There are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and.

they buy new homes.

Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates even further. If it slows enough, we have a recession.

During such a time, fewer people are buying homes. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment - perhaps because of a layoff in the family.

Next Supply and Demand

More Home Buying Articles and Advice Benefits of Owning Your Own Home

The Best Investment Income Tax Savings Stable Monthly Housing Costs Forced Savings Freedom and Individuality More Space

Important Things To Avoid Before Buying a Home

Don't Move Money Around The Effect of Changing Jobs No Major Purchases of Any Kind

Don't Buy a Car - or Did You Already Buy One?

When Income Grows and You Want to Buy "Stuff" Debt-to-Income Ratios and Car Payments How Buying a Car Reduces Your Purchase Price

The Business Cycle and Buying a Home

Recession and Expansion Supply and Demand Should You Try to "Time the Market"?

Comparable Sales and Your Offer Price

Determining Your Offer Price Comparable Sales in the Public Record Comparable Sales in the Multiple Listing Service Comparable Sales - Pending Transactions Other Factors Influencing Your Offer Price

Major Factors Influencing your Offer Price

How Property Condition Affects Your Offer How Home Improvements Affect Your Offer How Market Conditions Affect Your Offer How Seller Motivation Affects Your Offer The Final Decision on Your Offer Price

Offering to Purchase Real Estate- the Basics

Introduction and Overview Contingencies in a Purchase Offer Earnest Money Deposit The Closing Date Transfer of Possession

Writing an Offer - Safeguards Regarding the Property

Disclosures From the Seller Condition of the Property Upon Transfer Inspections You Should Require Final Walk-Through Inspection

How Financing Details Affect Your Offer

Down Payment Interest Rates Closing Costs and Financing Incentives Seller Financing Cash Offers Other Financing Details in Your Offer

How FHA and VA Financing Affects Your Offer

Extra Costs for the Seller VA and FHA Appraisals

Selecting Service Providers

You and the Seller Must Agree Escrow and Settlement Title Insurance Termite and Pest Inspection