Real estate has always been a very emotional process. It is emotional on the person or persons selling the home thankas to the many memories that have been created, the family get-togethers, the graduation parties, sleepovers, kids crawling on the floor, then to learning to walk, and the family discussions around the dinner table.
It is an emotional purchase for the new buyers as well. They are wondering if they are making the right decision, are they getting in over their heads, will they be able to sell it someday and make a profit? How much will it cost to remodel, will I be able to afford the payments?
Real Estate is a very Sensory Experience,
Every property has a different feel to it. It can best be described as comfortable, peaceful, or it can satisfy your list of desirable characteristics that you want in your new home. It can be none of those items and something completely different. That is the unique thing about emotions, they can come and go at any time. They can change instantly.
Marketing Homes For Sale
The current manner in which homes are presented for sale has been dramatically changed. At present, gone are broker caravans, Open Houses with 3-20 visitors at a time have become a thing of the past, forget about seeing the property on a moment’s notice, Poor quality photographs and verbally challenged listing descriptions are a ticket to unsold inventory.
Real Estate Technology
Virtual showings have replaced property tours. A “ZOOM” meeting has become the new Sunday afternoon Open House. A technology called Matterport enables you to see the inside of the property room to room and by removing the ceiling.
To give you an idea of how the Matterport technology works here is a video of how the technology works on a Spanish Fixer in Pasadena we have for sale.
Current Market Conditions
It’s actually much better than you would probably think.
Despite the ‘Closed for Business” sign across most of the US, and the over-under stock market, the current real estate market is showing signs of activity. Homes are selling and in many cases selling quickly. I believe this is attributable to the cost of money. When interest rates are low and very favorable there is a demand for housing. Interest rates are looooow.
Interruptions occur, standard ways of doing business are disrupted and new innovations take place to fill the void.
Now if only we could find some toilet paper.
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Pasadena Condos under $500,000