Is staging a necessity? The smart answer is that it is not only a necessity it is vital in today’s buyers market. Many buyers cannot envision how a property can be decorated or used, but when a home is beautifully staged buyers perceive a higher value to that property. In fact the website HomeGain conducted a survey that found that home staging resulted, on average, in a $1,780 price increase.
A few staging tips:
Start at the Curb – At a minimum, lawns should be freshly mowed, flowerbeds clean and adding some color is increases curb appeal. Freshening up the door area where buyers will wait while an agent opens the door is your true first impression to sell an interested buyer.
Get Rid of Clutter – Pick one closet, room or area at a time and critically scrutinize each item. Forget hanging onto items for a garage sale just pick a favorite charity and donate it – it will save time and energy that you can focus on preparing your home to sell. If spaces still look cramped, start prepacking and storing the additional items.
Watch where your eye goes – Concentrate where your eyes go when you enter a space. If the eye is drawn to the chipped paint on the door then repair it. If you see the sloppy paint job you always meant to touch up do it.
Clean, clean and clean it again – We all realize that our homes may not be spotless in our day to day lives, but when it comes to selling clean is expected and will give you the most return for your time and money. Again go room by room or hire cleaners for a day to get the final white glove clean including those baseboards.
Bring in fresh eyes and/or a professional – call up your friend, you know the one that will be brutally honest with you. You can also always contact a real estate agent that knows the market and how to position your home to sell it (not just list it). As a real estate agents, The Marr Team can give tips on staging basics; but when needed our sellers are offered a complementary 2-hour staging consultation with a professional stager to get your home ready to compete in the real estate beauty contest.
The way we live in a home is emensely different than how we must setup a home to sell – I know it took me three months to do all those little things done around the house, get rid of the clutter and get it staged, but when it sells in only 19 days with multiple offers it is worth the extra time! Let us get you ready to go on the market – call us today even if it may be a few months until you are ready to sell. We can advise you on what repairs, upgrades or preparations will get you the most money for your efforts.
Many homeowners are not deciding to sell in this current market, but instead are looking at updating or upgrading their current homes. When upgrading, home owners should seek features that aren’t only desirable to them but also what will add value to the home when it comes time for resale.
Here’s some general advice from Bankrate.com to help guide you as you consider any changes in your home to determine if it would increase your home’s value.
These items may not be worth the expense:
Too high maintenance. Many buyers aren’t looking for homes that require too much upkeep and maintenance. The article notes in-ground swimming pools as a prime example of a high-maintenance feature that may turnoff many buyers as they look at the upkeep of it as too costly and too much work.
Over-the-top. Home owners don’t necessarily want to have the most upgraded home on the block. That’s because when they go to sell it, they likely won’t make all their money back on the upgrades if the home becomes overvalued for the neighborhood. So while granite countertops, stainless steel appliances and all the top finishes are always an attraction, home owners need to ask whether such features are too much for their neighborhood, particularly if the other homes just have moderately priced cabinets or features.
Too personal. Too much customized design choices, such as a Tuscan theme taken to the extreme, may turn off buyers or attract low-ball offers at times of resale because buyers who may have differing tastes see the decor and finishes as something they have to do-over. “Any time you deviate, no matter what the improvement is, from what is a fairly traditional, single-family house, you run the risk of improving in a fashion that will not lend itself to additional dollars,” Miami real estate pro Moe Veissi told Bankrate.com.
Unpopular. Ensure that the change in your home will not only be a good fit for your family and lifestyle, but will be wanted by traditional buyers.
If you are thinking of making changes, but don’t know how much value you are adding to your home, call The Marr Team – we will give you honest numbers and advice on your project and your home’s value.
Colby Sambrotto, one of the founders and former COO of ForSaleByOwner.com recently spent six months trying to sell his condominium himself through online listings and classified ads before turning over the condo listing to a New York broker. The broker told Sambrotto that he had actually priced the condo too low and was not attracting the right buyer for the condo. At first Sambrotto would not let the broker increase the price, but finally gave in. The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price and Sambrotto paid a 6% commission on the $2.15 million sale. While this story is very ironic, it details a typical scenario that happens everyday.
Each year less sellers take the risk of navigating the real estate market on their own. In 1991 19% of sellers sold their home For Sale By Owner (FSBO), but the total number of FSBO sales have decreased dramatically since then. In fact, the National Association of Realtors reports that in 2010 the number of FSBO sales decreased to 9% of total homes sold and only 5% of those were sold on the open market (the seller did not know the buyer).
The number one reason that people try to initally sell For Sale By Owner is to save money, but statistics show that 90% of all FSBO sellers end up turning to a real estate professional for help. In these times we all understand trying to save money, but statistics show that FSBOs actually end up saving more money by having professional advice which sells the home faster, for more money and also greatly reduces monthly carrying costs (and frustrations).
FSBOs report that the most difficult task in this real estate market is setting the price correctly as demonstrated by Sambrotto’s story as well. There are a number of other factors to consider when determining how you will approach the real estate market with your home.
TIME: Selling a home is a full-time job and requires answering multiple phone calls, showing buyers, following up with interested parties, writing offers, negotiating contracts, coordinating appraisals, inspections, surveys, keeping up with lenders and brining everyone to the final closing which also requires understanding and answering numerous questions. Another factor of time is ensuring you are only spending your time dealing with serious, qualified buyers.
MORE COMPETITIVE MARKET: All sellers are not just competing with their neighbors, but also foreclosures and short sales and the difficulty of positioning a home correctly on this market is why 23% of FSBOs report that setting the price is the most difficult task. Remember REALTORS® see and sell hundreds of homes over the life of their career while most sellers sell only a handful and most likely have not seen their current competition when they put their home on the market.
MARKETING: While there are websites that cater to FSBO properties, they have no access to major online marketing avenues in a time when a large majority of buyers are selecting their homes online. Sellers also have no avenue to advertise their homes to other real estate agents who are guiding the majority of buyers on the market.
SAFETY: Safety should always be a factor when letting someone unknown into your home whether you are alone or your family is in the home.
LEGAL PITFALLS: Today there are more disclosures and legal requirements for sellers than ever before.
The Marr Team helps FSBO sellers with required disclosures and consulting or if you are ready tolet someone else do all the work and get your homes sold let us put our aggressive and successful marketing plan to work for you today!
Today’s market is a buyer’s market, but current housing inventory is low giving sellers less competition when selling Plus, you can take advantage of the great buyer’s market when you purchase. Our team is working with numerous buyers right now that are searching the market and waiting for the right property. If you are considering selling within the next 6 months let’s talk – the fall market is still strong and the spring market is just around the corner.
We can help you or someone you know understand the current market trends, determine the value of your home and negotiate the best deal possible. Give us a call today for a no-obligation evaluation.
Are you ready to buy your first home? How do you know? Where to start? No need to worry all you need is a knowledgeable real estate professional to guide you. The Marr Team will spend time answering questions and explaining the entire process. You don’t need an agent to just open doors and point out home features – you need knowledgeable advisors to explain the entire process and to guide you through it.
We will also be able to provide the names of local, trusted lenders that can consult with you and give you more information to help you make an informed decision. Your lender should answer a number of questions for you about purchasing including:
– How much are you qualified to purchase?
– How much would your monthly payments be?
– How much cash do you need at the closing table?
It is an amazing time to buy a home right now due to extremely low interest rates and softer market prices, but once you get the answers to the previous questions you still need to consider the following questions to determine if the time is right for you.
– Do you have the needed funds to purchase?
– Do you have the time and funds to maintain a home?
– What montly payment are you comfortable with for your home purchase?
– Is it the right time to add more responsibility to your life?
Finally, if you are considering buying your first home this fall decide if you want to have millions of people watch you go through the process. If you do, give The Marr Team a call and we will get you the applications to appear on HGTV’s My First Place with us. HGTV is looking for fun, high-energy people who are just starting the home-buying process for their first place and would like to share their story with HGTV!
The goal of this show is to capture all the trials and tribulations of looking for, bidding on and buying your first place. Taping takes place this fall and winter in the Dallas/Fort Worth area. Ideal candidates will be enthusiastic buyers with a unique story to tell and a desire to share their experiences! Singles, couples and families are all invited to apply! And the best part is that candidates who complete taping will receive a monetary gift and a DVD copy of their episode to document their first home- buying experience for all time!
We would love to be your trusted advisors when you decide to buy your first home whether you do it in front of a national television audience or not – just give us a call!
BEGIN LIVING LARGE in this spacious home on a cul-de-sac street. 4 large bedrooms and 3 living areas give you space for everyone. Master bedroom is downstairs with separate shower and jetted tub, two sinks and walk-in closet. Kitchen upgraded with granite countertops and stone backsplash. All wet areas are ceramic tile and all other downstairs flooring is gorgeous newly installed engineered wood floors. Close to community pool, elementary and 121.
Is staging a necessity? The smart answer is that it is not only a necessity it is vital in today’s buyers market. Many buyers cannot envision how a property can be decorated or used, but when a home is beautifully staged buyers perceive a higher value to that property. In fact the website HomeGain conducted a survey that found that home staging resulted, on average, in a $1,780 price increase.
Many homeowners are not deciding to sell in this current market, but instead are looking at updating or upgrading their current homes. When upgrading, home owners should seek features that aren’t only desirable to them but also what will add value to the home when it comes time for resale.
Colby Sambrotto, one of the founders and former COO of ForSaleByOwner.com recently spent six months trying to sell his condominium himself through online listings and classified ads before turning over the condo listing to a New York broker. The broker told Sambrotto that he had actually priced the condo too low and was not attracting the right buyer for the condo. At first Sambrotto would not let the broker increase the price, but finally gave in. The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price and Sambrotto paid a 6% commission on the $2.15 million sale. While this story is very ironic, it details a typical scenario that happens everyday.
No need to worry all you need is a knowledgeable real estate professional to guide you. The Marr Team will spend time answering questions and explaining the entire process. You don’t need an agent to just open doors and point out home features – you need knowledgeable advisors to explain the entire process and to guide you through it.