Buy a home with no photos, save money

Galen

Nov 29

Real estate

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)