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Strange Housing Times

Updated: Oct 15, 2023

Real estate sales are at their lowest ever. Generally speaking, sales never get lower than 4 million sales for the whole country. That's where we are now. With higher inflation, increased building costs, and a 7.5% interest rate ( just announced today) most homeowners are only moving if they have to. Like if they are being called back to the office from working at home, or a divorce, or a family member passes on. Like it or not, we are at rock bottom. There is not going to be any mass exodus back to NY, NJ, CA to name a few states or any of the other high tax states. Let's face it. We are all looking to pay lower taxes so most everyone, when they move, will be moving to a lower tax area. No homeowner will trade in there 3% 30 year fixed for a 7.5%. You would have to be crazy or in a forced selling situation.

That being said, real estate photography has never been so important if you decide to sell. Yes there is very little inventory so you figure it will sell anyway. You are correct, but at what price? If your photos do not do the home any justice, expect the selling price to be lower. Yes I know we all think that because we did a $60,000 renovation that we can just tack that on to the price of the home. It doesn't work that way. So do not go cheap on your photography. What I mean by cheap is let your agent do the images with their cell phone so they can save the expense on real photography. All real estate brokers are feeling the squeeze because there are very few homes for sale. That means they cut expenses so their business remains profitable. Are they dropping their rate they are charging you? Heck no! So make sure, if they decide to take the low road for imagery, you demand otherwise. Give us a call to schedule some time on a call. Discover what the AP3 family of agents already knows.

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