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Stock impact report

In a frozen luxury housing market, buyers are asking to ‘try before you buy' and having sleepovers in multimillion-dollar mansions [Yahoo! Finance]

Anywhere Real Estate Inc., (HOUS) 
Company Research Source: Yahoo! Finance
New taxes in areas like Los Angeles and Cape Cod make luxury transactions even more costly, forcing sellers to be more mindful and flexible with pricing strategies. In today's luxury housing market, it's become increasingly difficult to sell for what the homeowner might think the home is worth—and even high-profile sellers have been forced to drop prices on their megamansions Because home prices and mortgage rates remain elevated, buyers are scrutinizing their purchases now more than ever. Plus, in several luxury housing markets, extra “ mansion taxes ” are tacked on, making purchasing costs even more expensive. So to woo prospective buyers, sellers are trying a new tactic: offering up sleepovers in their mansions to help seal the deal. Julian Johnston , a real estate agent with The Corcoran Group in Miami, said this is a trend he's seeing more frequently in today's luxury market as sellers and agents are forced to become more open to creative strategies like pricing adjustmen Show less Read more
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