Most real-estate participants working without an agent don't usually pay much attention on the current market conditions. That's because most folks tend to think of their home as a place to live and not as an investment. When most people decide to sell or buy a home, very few stop to take the temperature of the marketplace or wonder if the market is conducive to the goals at hand.
If you choose working FSBO you should understand that you won't have an agent to explain you all the terms and rules of the market. So it essential for you to know at least the basics of the real-estate market in order to understand all your negative sides in a particular situation and all your priorities as well.