If you drive a vehicle, you’ve most definitely felt the squeeze of the increase in fuel prices. Americans are more conscious of where their dollars are being spent with inflation affecting everyone directly or indirectly. The companies that ship and deliver goods have to adjust their prices because of the influx in fuel prices. The cost to heat and power homes is being impacted by the rising fuel and oil prices. People can afford less with these high prices. Consumer spending is restricted as well as leisure activities and traveling.
The real estate market is driven by supply and demand. While there is still a limited supply of properties for sale, demand remains high due in part to favorable mortgage terms. However, land prices have been pushed to record high prices. The real estate market will see an impact from the rising fuel costs. Buyers are unable to travel as much to explore the area and look at properties. Thus, the virtual platforms are essential tools used in marketing and are critical to provide sellers with exposure and buyers with an efficient opportunity to experience a property.
Virtual home tours were a great alternative when Covid had much of the country shut down. A virtual home tour allows you to see the layout of a home and provides the sellers and buyers with vantage points. The seller can get their homes or properties in the hands of potential buyers instantly and the buyer can decide whether a home is a good fit before spending the time and money to go physically see the property. Virtual land tours are much more innovative, and Corder and Associates is the only brokerage offering this game changing technology. A land tour gives an aerial view of a farm or ranch and then can display photos, links, or information associated with “hot spots” on the property. With the click of a mouse, you can see how far power lines are away from the barn or the width of the seasonal spring that runs through. You’ll be able to see the views that you’d have from standing on the property and the terrain. Furthermore, the virtual tour technology offers a chance to tour through shops, barns, and other outbuildings. See how fields connect and where the corrals are. It’s fascinating to be able to take your time in the comfort of your own home to have a virtual experience of your dream property.
Clients, both sellers and buyers alike, value the virtual land and home tours and the favorable prospects that such technology gives them. While the demand for properties and land is still fueling the price growth in the real estate industry, I expect gas prices, inflation, and the rising interest rates to combat those prices and somewhat cool the market in the near future. If you want to make “cents” of this inflated market, the time to sell is now!