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  • Quan Barnett

REAL ESTATE MARKET

A market can simply be defined as a place where two people exchange valuables, it’s a place where goods and services are exchanged, it is a place where buyers and sellers meet, it may not be in close contact with each other or may not see each other. Exchange of goods or services is the main purpose of people coming in contact either physically or digitally. A market might not be a particular location, but the exchange of goods and services can occur anywhere in any given period. A market is any place where two or more parties can meet to engage in an economic transaction, and a market transaction can simply involve the exchange of goods, services, information, currency, or any combination of these that moves from one person to another. Real estate is often referred to as the real property, buildings, even the air on the plot of land, and anything below the earth's surface of the land. In business terms, it is simply referred to as the producing, buying, and selling of properties.



Since the house that’s built on it is part of real estate. Real estate involves many aspects, it can be referred to as improved or not improved property, and it might be owned by a government or corporate entity. Real estate is referred to as a free market just like every other market, it also follows the law of demand and supply, that is when the demand for houses increases, the price of houses goes up and when the prices decreases, the price of houses comes down. Understanding the market price of a piece of property is important if you are buying, selling, or investing. And you must consider the location, size, condition, amenities, and proximity to services. The rapid rise in home prices and also a rise in house demand leads to real estate market crash, in this case, demands often outpace supply. The market crash that occurred in 2008 as a result of an unregulated market, another crash occur in the US on September 16th, 2011, so as there are crashes in the normal market, so is as real estate market And the real estate agents are the agents that help home buyers, sellers, and renters to go through the real estate documents and explain the unfamiliar terms. They also help in introducing buyers to sellers and vice versa. It’s not advisable to just start buying houses without consulting a real estate agent or a real estate lawyer.




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