Staging Pays Off for Sellers

If you are thinking of selling you should also think about staging your home. Why? The NAR did a study about home staging. No surprise, they found that home staging has many positive impacts for both the buyer and the seller.

  • It’s easier for a buyer to visualize a staged house as a future home. It’s not necessarily intuitive but an empty house looks a lot smaller than a house with furniture. And a cluttered house or a house where the walls are covered in family photos or the decorating leaves much to be desired is often a turn-off. It’s actually harder for a buyer to see through the clutter and envision themselves living there.
  • Beautiful photos of a staged home are more likely to entice a buyer to take a tour. This just makes sense. A buyer is more likely to go see the beautiful home over the plain home, all other things being equal.
  • Buyers are more willing to overlook faults.
  • 67% of sellers agents believe buyers are willing to pay more for a staged home. 19% said they were not sure and 10% said staging had no impact.

You can download the report here…

Interesting enough the Real Estate Staging Association (RESA) also did a study in 2013 on 63 unstaged homes that had spent an average of 143 days on the market with no offers. The homes were taken off the market, staged and then relisted. They generated first offers in an average of 40 days. Quite the difference.

In a separate study also by RESA they looked at 481 homes that were staged before hitting the market. They received a first offer in an average of 23 days!

What are the most important rooms to be staged? In order:

  1. Living room
  2. Kitchen
  3. Master bedroom
  4. Dining room
  5. Bathroom
  6. Kids and guest bedrooms

If you are thinking of selling and want to stage your home but don’t know where to start, ask us. We would be happy to help you get the most for your home.

Are you a New Year’s Buyer or Seller?

Are you a New Year’s Buyer or Seller?

Well, it’s the New Year, and many people are considering selling their home. If you are considering selling, don’t do what some people do and wait until Spring. Seller think Spring is the best time to put their home on the market, when their flowers are in bloom. This is good for buyers because there are more homes on the market from which to choose. But keep in mind, that all that competition will make it harder for your house to stand out. Right now is an excellent time to sell. We have  a shortage of houses in almost every category. So if you are waiting until Spring you are missing out.

And if you are a New Years buyer, you will want to start your home search now. The reason is interest rates. As you know interest rates impact your purchasing power. A small rise in rates can potentially shave thousands off what you can afford.

Everyone would like to know what the mortgage interest rates will do this year, but the best we can do is speculate. That said the Fed is now talking about raising interest rates possibly by mid 2015. Further, as we get closer to a Fed rate hike, mortgage interest rates will become more volatile. One thing is for certain however, we are enjoying record low interest rates, and that won’t last forever. Here is a snapshot of the rates as of today courtesy of Mortgage News Daily