Real Estate Market

It is so exciting when you are staging your home for sale. Preparing your home to make an impact on potential buyers is fun and you only have one chance so you need to make sure you give it your best shot. The greatest benefit of staging your home for sale st that you will usually sell it for more than you originally expected. When multiple buyers are impressed with your house there can be a bidding war. Even if there is only one buyer interested in purchasing it, the greater impact that the staging has had on them will ensure that your asking price does not seem like too much.

There are many things that you can do when it comes to staging your home for sale. Take these ideas for example:

1. Remove Unattractive Features
Is there anything that you don’t like about the home? It is now time to get rid of it or update it. This would be a great time to update those lighting fixtures.

2. Painting
Putting a fresh coat of paint in a neutral color on your interior walls is easy and very inexpensive. If you are feeling really adventurous then consider painting the outside of your home too (depending upon what your home is made out of).

3. Declutter
It is amazing what some cleaning up does. Take a good look inside your home and see if anything can be removed to free up more space. Consider removing extra furniture, your collections, pack up most of your books and accessories, but leave a few. Rooms that are free of clutter will make your house look larger to buyers.

4. Landscaping
First impressions are everything. The outside of the house is the first thing buyers see when they drive up. Keep the lawn mowed. Have the kids bicycles and toys out of sight. You don’t need to renovate your garden, but by simply planting some nice plants and shrubs you can make a massive difference to the ‘curb appeal’ and character of your home. Choose native plants and trees and plan in advance to give them time to flower and blossom for the season.

5. Modernize
Just by changing drawer handles, curtains and other trimmings around the home you can give it a whole new look and really modernize the home on a budget. These days you can buy house accessories at a very affordable price from local hardware and home stores.

Staging your home for sale is the best possible way to maximize your asking price and get sold more quickly.

Realtors have employed professional stagers as part of their service to sell homes for years. In this market, price is king. Buyers expect homes to be in bad shape; they are becoming savvy to the fact that a bank is not going to upgrade a home, that a short sale is likely to have deferred maintenance, and sellers with equity do not want to spend any of their equity making repairs. We are seeing “as-is” on listings routinely. Your agent will guide you when they do the initial walk-through.

But with the largest inventory in recent years, sellers still want to stand out. Professional staging can cost several thousand dollars and realtors are no longer willing to front that cost when they are unsure about a sale. Let’s discuss some ideas that are budget conscious.

First thing to remember is that the stagers themselves are feeling the pinch. It can’t hurt to ask one to come over and give you an estimate. They have inventory that is not being used and they might be willing to lower their prices considerably. If they supply you with the staging items for a reasonable cost, then listen to their advice, ideas. As they walk around your home, take mental notes of what they would put/subtract to make the home more interesting. Then see if you can find those items in your home, or a friend’s home. Borrow what you can!

Always unclutter…..this is not a new suggestion and costs you nothing. If you must, pile things in your garage. If you do this though, try and still allow potential buyers the ability to see special aspects to your garage, such as extra storage or work area. Take all unessential knick-knacks off of tables and shelves. Look through magazines or even catalogs for ideas. Take the ideas from these high end stores and look for similar items in discount stores. Don’t feel like you need to overdo, just a few nice touches. Some ideas might be a clear bowl filled with lemons or apples. Treat your family to a fruit bowl and keep filled. Find inexpensive throw pillows to tie in a color pattern, take extras off the counters in the kitchen.

Hire an interior designer for an hour. Most designers have an hourly rate for advice. Use them! They are expert at using what you already have, they might also have floor items they could lend you in exchange for some minor advertising, such as business cards or a small sign. Offer to list them on fliers, your agent will be happy to accommodate this as they want the home to sell too.

Some home stagers mistakenly believe they need to carry their own furniture inventory because they live in a small town where there isn’t a large furniture rental company. Unfortunately, many of these stagers end up broke and out of business with nothing but truckloads of furniture and a pile of debt.

In part one of this article series, we discussed why home stagers who mistakenly believe they need to carry their own inventory of furniture are putting their business in financial danger. If these stagers would think outside the box, they would see several alternative means of sourcing furniture without going out and buying it themselves just to rent to their clients.

In this economy, it’s not difficult to negotiate with furniture retailers savvy enough to recognize an opportunity to earn additional revenue. Offer to rent some of their showroom furniture for staging projects. Don’t forget to consider used furniture stores and antique shops as well. Homebuyers don’t expect to see all brand new pieces in a home they’re viewing- in fact, some previously loved furniture will help to make the home look less staged.

There are many pros and cons to owning your own furniture inventory that are discussed in the Staging Diva Home Staging Business Training Program. The first question a new home stager needs to consider is whether they are going into home staging to be in the furniture rental business. Because make no mistake, the furniture rental business is its own business, it is not just a service provided by stagers. Just because many stagers build up their own furniture inventory doesn’t mean it’s always the best business decision, or that it has to be that way to grow a successful home staging business.

As Accredited Real Estate Staging professionals, we were very pleased to see the latest, and most realistic of the new HGTV shows about selling your home –The Stagers. In 30 minutes, the viewer quickly sees how real estate staging can create the impact necessary to truly transform a property, portraying a lifestyle that homebuyers really want! Staging, now more than ever, will help your home sell faster and at a richer price!

Let’s face it — it is currently a “buyer’s market” with lots of inventory… EVERYWHERE! If planned right, however, it can also be a seller’s market with a little research, foresight and the help of a knowledgeable real estate agent who will recommend you to a real estate staging expert BEFORE you put your home on the market.

If you can’t wait for the market to improve before selling your home, you need to follow a few basic rules:

· boost your home’s curb appeal – a clean house with cosmetic upgrades, including paint, flowers and manicured lawns can help form a much more positive first-impression — giving prospective buyers a reason to step over the threshold.
· invest in bigger improvements, if the budget allows – focus on fixing those “make or break rooms” – kitchens and baths can bring a seller the greatest return on their money.

Whether you are a buyer or a seller, it is critical to “know your market.” Check with the Office of Federal Housing Enterprise Oversight to learn more about house price appreciation trends in 275 markets – www.ofheo.gov.

If you want your home to sell quickly and for the highest amount possible, you’ll want to pay close attention to the way in which your home is staged. Home staging involves taking steps to present your home in the best light possible. Here are a few easy ways any seller can take in order to make their home more attractive to potential buyers.

One of the simplest staging techniques is to de-clutter. Go through each room in your home and eliminate any items which are not essential. Carefully organize items such as books and CDs. If you have too many of any particular item, consider donating them to charity. If the home is personalized with too many of your own possessions, it will be that much more difficult for potential buyers to picture how it might look if they lived there.

In addition to de-cluttering, make sure that you have cleaned every inch of your home. Vacuum or steam-clean your carpet, scrub the floors, wash the windows, and generally make your home spotless. Any indication of dirtiness will give potential buyers the impression that your home was not well maintained.

This is also a good idea to consider small repairs that you’ve been meaning to finish. Broken items such as drawer-handles, window locks, and patio doors need to be replaced. In addition, consider oiling doors and cupboards to ensure that they don’t squeak. Some buyers tend to pay close attention to minor details like these.

Another easy method for freshening up your home is to rearrange your living room furniture. Try several different arrangements to find the best combination. Consider taking a photo of each arrangement and then comparing each one. It may be a good idea to show the pictures to friends or neighbors to get outside advice. If your furniture is starting to show signs of age and wear, you may want to use slip-covers to give a fresh look.

If you have the time, painting the interior of your home can give an enormous boost to its overall appearance. Particularly if your home hasn’t been painted recently, a new paint job is a fantastic investment which will pay for itself. When in doubt, neutral colors are best.

Lastly, consider the overall ambience of your home. Make sure that it doesn’t have any bad smells, such as pet odors. Allow the home to air out, and consider burning scented candles and using air fresheners. When it comes time for potential buyers to visit, play some quiet music to create an inviting mood.

For more tips on selling your home, visit http://carvajalgroup.com.

Small can be beautiful, easy and practical. Many homeowners including newly-weds, baby boomers and singles are opting for smaller spaces. *This trend has been confirmed by Gopal Ahluwalia, director of research for the National Association of American Home Builders  who said -”We’re trending toward smaller homes. Growth in the average size of new single family homes which went from 1,750 square feet in 1978 to 2,479 in 2007 is starting to reverse.” In a survey of home builders this month, his group found that “89% are building or planning smaller homes than they had been.”

Kermit Baker, chief economist of the American Institute of Architects (AIA), also sees the shift toward smaller houses. He says “it was obvious with high-end buyers even before the economic downturn” and he expects it to continue with them. In a survey last April, the AIA found twice as many architects reporting a size decline rather than an increase. In 2006, the reverse was true.

For some it is a question of economics, for others they don’t want the responsibilities that are common with larger homes. Whatever the reason for you choosing to live in a small space, you will encounter and have to address the decorating challenges that are unique to small spaces.  For those who are downsizing, you will have to make some compromises in your decorating style, because your larger pieces more than likely will not fit comfortably in your smaller space; and you certainly will not want to feel cramped or stifled.

Small spaces, if decorated well, can be cozy and intimate. With the right pieces of furniture and strategic placement you can make your space wonderfully exciting, totally dramatic or extremely calming, it all depends on your taste in decorating and your lifestyle needs.  The use of paint, in warm tones, along with proper lighting and choice mirrors can transform a small space into your special and or unique haven.

Here are some ideas to help make your small space your sanctuary:

Clear the Clutter: Too much ‘stuff’ clutters any room and makes a small space appear even smaller. Get rid of the nick-knacks and other dust collectors; find ways to get treasured collections out of view, by using organizers to your advantage.

Color Scheme: Use lighter, cooler tones to paint and accessorize your space. These tones or hues will make your space feel and look open and airy while darker tones will make your space look smaller. For those who are more daring, punch up the colour on  one focal wall, this will add a sense of drama and highlight the area. Going monochromatic, using colors that are in the same color family, cool colors and or delicate warm colors on most surfaces will give the room a fresher more open look.

Fabric: Keep the look simple and airy by using sheer or light coloured fabrics for your window treatments, bed skirts, table covers, and furniture slipcovers. Sheer fabrics allow light to pass through them making things beyond them look further away, thereby increasing your space.

Furniture: Several smaller pieces of furniture will make a room appear cluttered and smaller, while a few large, simple pieces of furniture or accessories that are properly placed will give your room a calm and comfortable appearance. Choose plain colored upholstery for sofas and chairs instead of stripes, or prints; use texture for interest.

Lighting: Get yourself a few beautiful lamps, install track lighting, sconces or recessed lighting – whatever your room will accommodate. Bear in mind that the right lighting will help to make a room appear even larger.

Mirrors: Mirrored walls will enhance the look of a room while enlarging it at the same time, however, if not properly used mirrored walls can date your look, so use mirrors wisely. Consider using a large framed mirror on a wall, which will give you the same enlarging effect, pay particular attention to what the mirror will reflect.

Open spaces: Create open spaces by placing furniture and accessories away from walkways so they do not block the natural flow of traffic in the room. Place large and or tall pieces along a wall. Try to leave open areas, If you can see the floor, the room will look larger. Here is to the warmth, ambiance and intimacy of smaller spaces.

*His analysis, (Gopal Ahluwalia’s),  of Census data shows that homes started in the third quarter of 2008 averaged 2,438 square feet, down from 2,629 square feet in the second quarter. Ahluwalia, who began the quarterly analysis in 1999, says “there have been slight dips before, but the latest drop was much steeper and is likely to hold even after the economy recovers.”

In this slow real estate market, how long would you let your home sit on the market with no offers before looking for a solution? Would you accept your real estate agent’s advice and cut your listing price dramatically to generate interest? What if giving up all your equity by selling at a rock bottom price still wasn’t enough to generate a sale?

After completing her home staging business training, Staging Diva Graduate Kathy Vernon of Texas-based Staged by Dream Weavers staged a house that had been on and off the market for two years and was attracting no interest.

Like many home sellers who haven’t decorated their homes to sell quickly, the owner of this home was enduring a significant inconvenience by not being able to sell his house. In this case, commuting to and from work required 3 hours in the car every day.

The first couple to see the home after it was decorated to sell ended up making an offer and there was a back up buyer in place in case the first offer didn’t go through. The homeowners were thrilled and relieved that their lives could go on without being stuck with their non-selling house. “As a new home stager, it was wonderful to see that I could use my natural talent to change a family’s life,” said Kathy Vernon.

A professionally staged home speaks to buyers on an emotional level and allows them to picture their lives there. The house Kathy staged hadn’t pick up and moved to a different “hotter” location, and there were no renovations done. If that same home had been staged two years prior it probably would have sold just as quickly (but for a whole lot more) because home staging works.

With results like this, you have to question why a home seller would not invest in home staging to get a quick sale for the best price possible.

If you are one of those home owners who are desperate to sell their home, especially in this tough economic situation, then you should know these 12 reasons why there is a buyer out there for every house. You can focus your home selling marketing campaign based on these simple facts.

Need for a larger house

Many people start out small or their families grow bigger. Now they need a bigger house to accommodate extra family members or their way of life demands more space. For example, some people have home-based businesses and would like to separate their office from home chaos to focus on work. Sometimes kids need more space for toys or playtime. Sometimes it is an addition of a family member etc.

Need a more safe, stable and community-oriented neighborhood

People love safe, clean and comfortable neighborhoods with good school systems, shopping, dinning, parks, and recreation. If we live closer to parks, we can always get out for a quick walk when its sunny outside or take the dog out for a walk. If shopping and dinning are nearby, it will reduce the time and fuel consumed during frequent trips. (I know most women like to shop and dine occasionally).A safe neighborhood makes life more easy, relaxing, and less problematic. With a of community close by, families can organizing or participating in more activities and programs.

Need to be closer to work

This is probably one of the main reasons why we all live where we live. Being close to work not only reduces the commute, but also gives you some more time during a day. If your normal commute was 1 hour each way, then you could have about 1 and a half hour more to do things at home. It can also save the hassles to be at work in case there was trouble sleeping during the night or you could not wake up early. Saves you gas too.

Need to be closer to schools, daycares or babysitter’s house

This is a good reason to choose where to live for a lot of people with kids. Having a good school system makes it a worth-while investment not only at present but also a good selling point. There is always a good demand for houses in a good school district area with a low crime rate. Also, having a daycare close by can also reduce the commute because you will be making two trips 5 or more days a week to drop and pick up the child. Saves you gas too.

Need to be closer to friends and family members

Many people like to live close to friends and family. That is one of the main reasons why people like to buy a house in a particular neighborhood where they know people or relatives. It really helps to watch kids or go shopping together.

Need to stay away from friends or family

I know it sounds bizarre, but some people actually like to stay far from their relatives or certain friends. I think it has a lot to do with the past relationships not turning out right. For instance, an area may bring sore memories because of a previous divorce or broken relationship. If you share the same thoughts & experiences as Raymond from Everybody Loves Raymond, you would definitely look for a house away from your parents. (Unless your spouse is like Debra and wants to be near them.)

Need for a smaller home

Some people bought a house that is bigger than their needs. Like kids, parents, or relatives that were staying together and now they moved out or got married. Now the house is too big to handle that monthly mortgage, high utility bills, or lots of unused space. So it makes sense to buy smaller one to save big.

Need for a retirement home

Some people have worked hard in their life and earned good retirement benefits or pension. A lot of times people live a busy life and once they retire, they want to move away from that life and noise in a quiet neighborhood. With the retirement earnings, it’s possible to afford some mortgage payment. For most of these retirees, they already worked through their college days, paid all bills, and have improved credit that they can qualify for such a loan.

Need for a vacation house

Some people like to spend time away from the daily chaos and enjoy a scenic weather-friendly vacation. Sometimes its worth it to own a house at such a location than to pay for hotels or rentals. Plus, when it’s not being used the owner can always rent it out to help pay the mortgage payment. It can turn into a sizable chunk of cash if it is located nicely and managed properly.

Tax benefit

Home owners can write off the mortgage interest. You also get tax free profits from the sell of your home. Another tax benefit is that you can write off your property taxes paid, not escrow balances though. There are write offs for moving expenses too, depending on the mileage. On certain circumstances the home buyer can also deduct the mortgage points. Another deduction that you might be able to take advantage of is your PMI insurance. If you purchased your home after July 2008 but prior to April 2009, you can qualify for a first time home buyer deduction. IRA payouts can be penalty free for first time home buyers too. An unfair, but sweet deal is a D.C. homebuyer’s credit. You can get some relief in a sale if you keep improvement and repair receipts. Last, there are tax incentives in place for “energy saving” home improvements. WOW! All of this could equal to a pretty chunk of change.

Privacy

One very important reason for many people is the added amount of privacy you gain from owning your own home. For some people, sharing a wall with 1 or more families on either side is aggravating. You hear the neighbor’s music, the argument, the crazy unruly child, or constant bumping the walls. Now I know that not all places are built with wall this thin, but many are.

Freedom of Expression

In some apartments and even neighborhoods, you cannot change anything in the landscape. On the other hand you may not even have a yard at all. For some people with families, having a yard is an important aspect. Additionally, you can put your green thumb to work, barbecue with friends, just relax in a hammock, or whatever tickles your outdoor fancy. Owning a home can bring the nature nut this oasis in a greater way than the trails at the park could. Or maybe you want to have bold, loud red walls, but your landlord will not allow those changes to be made. You can in your own home, just change it prior to selling it. See more info on staging to sell.

Do you ever feel like you’re doing the same thing over and over again? That’s how I feel about our family meals. We know how to make a handful of dishes relatively well and it’s just a never-ending rotation of the same things, week after week. Sound familiar – BORING!

This could happen with our Staging design as well. We know what inventory we have to work with and how it could be set up. It can be a challenge sometimes to keep your design plans fresh.

I was very conscious of this because I didn’t want realtors to walk into one of my staged properties and say, “Oh, this looks just like what she did at the XYZ house”. If we staged a property in town and then another property in a nearby city, I did not have a problem recreating the same look there, but we NEVER used a similar design in the same city where the same group of realtors would likely see the house.

I always reminded my team of the absolute necessity to vary the design on every property we worked on. So what do you do when you run out of ideas? How about window shopping?

I recently walked by Banana Republic and saw two windows and had to take a photo because the first thing that popped in my mind was, that would be a great idea for Staging!

In the left window was a mannequin wearing a partially completed dress design and design sketches in the background of a design work table. This would be a great theme for an office. You can probably find some photos from magazines to substitute the sketches or even find a clothing design sketchbook that you can extract pages from. Framing the tear sheets would give you a more polished look.

The right window showed the mannequin wearing the finished design plus a second mannequin seated “sketching” at the work table. It was easy to trace the progress of the design from the first window to the second window.

Need ideas for kitchens? Visit some gourmet cooking stores.

Need ideas for bathrooms? Visit the bath department of a department store.

I love visiting the china department at Bloomies or Macys to get ideas for tablescapes.

Schedule some extra time for your next visit to the mall to look around and see where you can find additional inspiration for your staging plans.

Copyright (c) 2009 Alice Chan

Believe it or not, the first thing a potential buyer looks at in a home is the outside. If they do not like what they see, more than likely they are not going to consider looking on the inside or even purchasing the home.

Most buyers cannot or will not visualize changes, so it is up to the home owner to make these changes. If a potential home buyer does want to make changes, then they sometimes want you to lower the price of the home to compensate for the changes made to the home.

There are some things home owners can do to add curb appeal to the home.

* Install a new front door, something with an attractive glass.
* Put a fresh coat of paint on the home.
* If the garage faces the road, replace the old door, or apply a fresh coat of paint.

Home owners can also add curb appeal to the home by adding some lighting.

* Add low voltage down the driveway and sidewalks
* Add an attractive porch light
* Strategically place outdoor lighting in flower beds and under windows to show off the home at night

A homes lawn is important to curb appeal. Potential buyers will not want a home with an unattended lawn. Plant flowers in the flower beds, and be sure to plant some with colorful blooms. The lawns should be well attended with no brown or bare spots. Having pets in the yard can also damage the lawn; especially if they dig holes. Make sure all limbs are cleaned up. When a home is being shown, be sure to put all water hoses, toys and lawn furniture away.

It is also important to keep trees neatly trimmed. Don’t let limbs hang too low to the ground or scrape on the roof of the home.

There are other important things to look at when adding curb appeal to your home.

* Make sure the driveway does not have cracks or oil stains.
* Driveways should be clutter free.
* Depressions in the driveway should be repaired.

Another way to add curb appeal and value to your home is to add concrete curbing and landscape curbing. Basically all this is doing is adding some concrete edging along your curb or around flowerbeds. You can add curbing around just about anything, just be sure not to over do the curbing, adding too much to your landscape can make the lawn appear cluttered.

Making your home feel like home is an important step in adding curb appeal. Decorate for the season; add wreaths, pumpkins, whatever the season is, spice it up.

If painting your home is out of your budget, there are a few things that can be done that will add to your home. Try replacing door hardware, house and mailbox numbers with new ones. Instead of paining the entire home try repainting the shutters and trim. Adding some new bright color to the front door can brighten up the home as well.