Taylor Swift vs The Housing Market

Taylor Swift vs. The Housing Market

Which is harder Getting Tickets to Taylor Swift's Era's Tour or Buying a House in Today's Market? It has been a Cruel Summer for both! We are now in August of 2023 and there doesn't appear to be any sign of us being Out of the Woods any time soon for either.

We compared the process, circumstances, and likelihood of scoring tickets to the hottest selling concert sweeping the country; versus buying a house in today's market. There are a lot of similarities, believe it or not!

Getting Taylor Swift Eras tickets is a challenging task for many fans. The demand for the tickets is very high, as the singer is performing songs from all her albums in chronological order. The tickets are sold online, but the website often crashes due to the overwhelming traffic. Many fans also face difficulties in securing their preferred seats, dates and venues. Some fans resort to buying tickets from resellers, but they risk paying inflated prices or getting scammed which has led to some Bad Blood between Swifties and third party resellers. That's not to say that you can't get tickets to the show; but it may cost you as much as a 300% markup from the face value ticket. Getting Taylor Swift Eras tickets requires patience, persistence and luck. Never in my Wildest Dreams did I imagine that I would register for the fan code, spend hours online when the tickets went on sale, and then sit in a queue with over 17,000 people ahead of me, only to be let in to select my tickets, and then receive the message; those tickets are no longer available; and you have to Begin Again, and then sets in the panic buy whenever you see the right side of the stadium seating chart completely grayed out, then you look and the left side of the stadium is completely grayed out, and then after all of this you either get wait listed for the next set of tickets to go on sale OR you go to a third party site where the cheapest tickets are over $2400.00 for the nose bleed seats. This is unfortunately the experience of many fans across the globe. There are some fortunate fans who have actually paid face value for their tickets but for most of us we know the above described experience All Too Well!

You may be asking yourself how this compares to buying a house in today's market. Let's take a closer look at the similarities. Taylor Swift Era's tickets are in high demand and the supply is limited; basic supply vs. demand. Those who have the extra cash or room on their credit cards are able to pay the astronomical prices of the third party resellers and are willing to do so! You have to jump through hoops to even get yourself in a position to buy the tickets. It takes a certain amount of persistence, patience, and a little bit of luck and even then you still might not get a ticket, and the ticket you get may not be the actual ticket that you wanted. You may have to settle for the nosebleed section just to make it into the stadium. The demand is so high for these tickets that you may find yourself completely priced out of the competition and you may have to get creative to score the hottest tickets on the planet! I know, I can hear everyone saying You Need To Calm Down as I wipe the Teardrops On My Guitar and try my best to Shake It Off! It's hard to do when you are a songwriter yourself and you identify with someone's struggles from being told at Fifteen that there's no way you can write songs that anyone would have any interest in hearing. What do you know about life, love, hopes, dreams, sorrow, tragedy, or loss? So, yes, I want to be in the crowds to cheer on my Antihero and sing along with thousands of Swifties and swap friendship bracelets because it isn't just a show; it's an experience and will go down as modern Folklore!

Now, let's compare that experience to buying or selling a house right now in today's market; which has proven to be equally as challenging for a lot of the same reasons. For many, buying a home of their own is the single largest purchase of their lives and that dream seems to be getting further and further out of reach for a lot of first time home buyers. We need to go back and understand how we got here from just a few short years ago.

Everything Has Changed and we would all like to go Back To December of 22 when the number of homes for sale had increased by 54.7% compared to 2021 according to a Market Trends report by realtor.com. Buying a house in today's market is a challenging task for many people. The demand for housing is high, but the supply is low, which drives up the prices and makes it harder to find affordable options. Moreover, the economic uncertainty caused by the pandemic and other factors has made it difficult for many potential buyers to secure financing or save enough for a down payment causing their dreams of home ownership to feel like an impossible task. Additionally, the competition among buyers is fierce, and some may have to deal with bidding wars, cash offers, or waived contingencies. Add in the complexities of higher mortgage interest rates compared to pre pandemic rates. Then on top of that you have a lot of would-be sellers not wanting to put their house on the market because they are anticipating the likelihood of finding another home to be a difficult task and if they are utilizing loans as a way of financing; some have better interest rates from when they purchased their home with rates as low as 2.9% versus today's mortgage rates. (As of August 9, 2023)

Current mortgage and refinance interest rates

Product	Interest Rate	APR
30-Year Fixed Rate	7.43%	7.44%
20-Year Fixed Rate	7.49%	7.51%
15-Year Fixed Rate	6.79%	6.82%
10-Year Fixed Rate	6.84%	6.87%

The Wall Street Journal released an article this last week that "a recent surge in US Mortgage rates have pushed affordability to the lowest level in 4 decades," Not since 1989 has the US recorded the lowest level of housing affordability pushing a lot of first time home buyers out of the market. All these factors make buying a house in today's market a stressful and complex process that requires careful planning and research. Leading many to believe that This Is Why We Can't Have Nice Things! While "Swifties" may have to persevere and hope to be The Lucky One to score Taylor Swift Era's tickets; the housing market has one key advantage that concert goers do not and that is a real estate agent riding in on their White Horse to save the day with expert negotiating skills, savvy marketing, and experience navigating a challenging market.

A REALTOR® can help you navigate today's market; while Swifties are jumping through hoops, waiting on codes, camped out online and hoping for a bit of luck. Your REALTOR® is hard at work looking for the best house, analyzing comparables to make sure you are receiving the best price not only for home buyers but also home sellers; and while there may still be stiff competition in the market especially in certain areas and price points, you have someone who knows the ins and outs and can help guide you through the whole process. They are making calls, knocking on doors, making posts on social media, to not only help their clients buy their dream home; but also to market their seller's homes to the right buyers. Helping to give you a leg up in the competition by assisting in getting you prequalified with a lender to give your offer more weight in a sea of competition. They can guide you on how best to write an offer that not only gets noticed but has a better chance of being accepted. There are so many things that a professional real estate agent can do to assist you in this process. You are not on an island by yourself when you have one of our trusted professionals handling all of the details from helping you find the perfect home, to negotiating price, through the inspection process and all the way to closing and being handed the set of keys to your new home. You have a better chance to achieve your goal of home ownership, selling your existing home, or adding to your investment portfolio when you have a trusted professional with experience in challenging markets. That is what you will find at Adkins & Associates Real Estate.

Sorry, Swifties (and I'm one of you) but it looks like it may actually be easier to buy or sell a home in today's market than it is to get tickets to the "Eras" Tour. Who knows, maybe we will get lucky!

If you have considered buying a home, selling a home, or investing in Real Estate; we have a Blank Space on a Real Estate Contract and we'll write your name!

Please call one of our professionals at Adkins & Associates Real Estate and let us "Speak Now."

Author: JL Owens 08/23/2023

Don't forget to comment with the number of Taylor Swift Album/Song Titles featured in this Blog Post for your chance to win an ERAs Tour Merchandise package worth $180.00 USD!! One verified email address = 1 entry for the random drawing to be held on October 27, 2023 at 1:00 PM to be held on Facebook LIVE; No purchase necessary to win, contest is open to everyone who comments the correct answer. Of course if you would like to follow our page, or like our page on any of our social media platforms; we would be appreciative! However, it is not necessary to be entered into the contest. Bonus entry for those who answer correctly and also what Taylor Swift ERA best represents you. (Equals 2 entries into the drawing)

Let's have some fun!

Contest begins at Midnight August 25th, 2023 and will run until Midnight September 25th; the winner will be drawn on October 27th, 2023 at 1:00 PM Friday and will be available for viewing on Facebook LIVE. The winner will be notified by email and we will ship your prize package promptly.

Disclaimer: This promotional contest is in no way sponsored, endorsed, or administered by, or associated with Meta (Facebook)

Posted by Adkins & Associates Real Estate on August 25th, 2023

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Taylor Swift vs. The Housing Market

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