Before the market recovery several years ago, many people thought that the showing condition of the home was of significant importance. After the recovery, the location of the property was thought to make the greatest difference in the success of the sale, and the list price might determine how long it would take for the home to sell. Of course, all three of these factors are crucial determinants of a home’s value.
Location is Unchangeable
The location of the home clearly cannot be changed so there is nothing an owner can do to alter that factor in the value and saleability of the property. Since a lot of home buyers have children and want to how to find a home in a good school district, it’s advantageous for sellers to mention the school districts their address falls within.
Pricing a Home Accurately is Crucial
The other two variables are entirely within the control of the seller. Though the seller has a choice of determining the listing price, it is prudent that they be well informed about the market to price the home appropriately. It has been discovered that the optimal price point for a home be within 2% of where its current value is trending or it may fall into the category of the 25% of homes that fail to sell at all.
Therefore, in a market that is experiencing a gradual softening of prices, it may be a mistaken strategy to knowingly set a price of 5% or more above theoretical current value as many owners have been doing recently.
Transform Your Home Through Home Staging
In any real estate market, the showing condition of the house and property is crucial to success. Because more than 85% of potential buyers preview homes online before deciding which home to see in person, they eliminate many homes that feel too small or unattractive in the photos. There are many tips and ideas that can be implemented at relatively little cost before photos are put online.
“Staging” with the help of an experienced realtor can transform a house into a highly desirable home. Alternatively, professional “staging” can be done for most homes for $5000-$20000 and transform it into a model home. It is true that “staging” was critical to many successful sales in the down-market of 2008-2012.
We have been able to help sellers achieve a return on preparation investment of three to ten times the costs in the past four years!
BEFORE The Edlen Team staged 550 Spoleto Dr
AFTER The Edlen Team staged 550 Spoleto [Big Difference, right?]
A Few Easy Home Staging Tips
Some easy examples of “staging” actions include removal of clutter and excessive furnishings which can increase the perception of the size of the home. A thorough cleaning of the interior and exterior and removal of personal family photos will help buyers pay attention to the homes “good” points. As first impressions are vital, paint and front landscape sprucing up can make a huge difference. Painting walls in neutral, off white tones will broaden the appeal, as will replacement of dated or worn carpeting.
Therefore, all three factors are involved in determining the price and saleability of a home. However, “staging” is the one aspect that a seller can make the greatest difference in with well thought out actions.
