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November 29, 2007

Buy a home with no photos, save money

Our whole job is to make finding and buying homes easier, but it’s the hard to classify homes that are a deal.

If you’re willing to do a little extra work (or you have a local agent who has actually been to all the homes for sale in your area), you can really score - Frank Llosa did a little digging and found that homes for sale with fewer photos sold for less:

  • 1 Photo= 91.2% of Original Price
  • 6 Or more= 95% of Original Price

And they sold more slowly (DOM is Days on Market, or the number of days the house was on the market before it sold):

  • 1 Photo = 70 DOM Avg
  • 6 Photos =40 DOM
  • 16-19 = 36 DOM
  • 20 MAX= 32 DOM

(via ReAgent in Connecticut)

This entry was posted on Thursday, November 29th, 2007 at 11:05 am and is filed under House values, deal of the day, real estate, real estate deals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Buy a home with no photos, save money”

  1. Frank Borges LL0SA- Broker Franklyrealty.com said:
    November 29th, 2007 at 3:58 pm

    Thanks for the shout out.
    Soon I wanna run some numbers for Days On the Market and Price. Seems obvious, but I want to figure out the correlation here in Virginia
    Frank

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