What does this mean in terms of selling your home? Chasing down the market means you list your home at the price you want to achieve, but due to market conditions your home stays on the market x number of days until your price is reduced to what the current market will bear before it sells.
Your home will stay listed for sale until your home reaches the price a willing buyer will pay.
Depending on what source is reporting, days on market as well as inventory is fluctuating across the country. Here are some stats from the NAR or Realtor. com. You can see that some parts of the country have very low days on market, while others are looking at an average of a 6 month wait to sell their home.
The story keeps evolving. Although interests rates are still low and inventory is declining in many markets, prices have not rebounded all over. Yet.
What does this mean to you if you're selling your home?
The average days on market in your area may be a concern. Are you waiting to achieve the "average price"? Any home that has been on the market for 60+ days is going to be exposed to price reductions and increased expenses.
Talk to your Realtor about what you can expect if you try to hold out for price If you want to sell your home in 2012 consider all the tools available to help you achieve your best price. Staging your home to sell and marketing with professional photography is key to realizing your home's market potential. Don't get caught "chasing down the market". Price your home right from the start.
Follow Us by Email
Wednesday, March 14, 2012
Thursday, March 8, 2012
Sellers Who Get It
Sometimes the best staging advocates are your home staging clients This morning I received a call from a homeowner seeking a staging consultation. They found Hampton Redesign online and commented that our site seemed the most comprehensive and organized.
The homeowners know their home is in a prestigious and exclusive location, will have a limited number of buyers and will be priced in the range of $1.8 - $2 million. Buyers who want to be in this location pay a premium and as there are a limited number of homes available for sale, most sellers might assume that staging your home for sale wasn't necessary.These sellers however had already been shopping for a new home in a similar price range and were surprised at how some of the properties were presented. Master closets stuffed so full of clothes you couldn't tell how much storage there was, lack of cleanliness, odors and neglected landscaping were some of the turnoffs mentioned.
We talked for a little while about what that signals to buyers and it definitely was a turnoff to these potential buyers who couldn't understand why a $1-2 million dollar home would be shown without any preparation. He felt it was a good investment to spend a small amount of money to maximise the dollar value of their home. They really understood the value of having an objective, expert opinion to guide them through any improvements or enhancements.
It so simple. I'm sure the home they are interested in buying is clean, well-presented and staged to sell because these choosy buyers value a home that shows well.
What's interesting to me is the majority of calls I get these days are coming directly from home -owners who choose to be proactive about getting their home ready to sell. Real estate agents who are not advocating professional home staging to their clients - especially in this price range - are leaving money on the table. The client's money as well as their own commission.
I love it when I get calls like this from motivated sellers who get it. Now if we could just get the Real Estate Agents on board!
Tuesday, February 21, 2012
Top 10 Color Trends for 2012
 |
| Organic colors |
 | |
| Simplicity |
Keep in mind trends come and go, so choose the elements that appeal to you and will work with your home and lifestyle. Right now color is huge and it's so easy to change out pillows, throws, curtains and bedding to get a fresh new look for spring and summer.
Whether or not you have your home on the market, are staging your home for sale, or just want to revive your decor, keep these hot new trends in mind.
- Global palettes - These are the warm spicy colors from India and the east. Cinnamon, cumin, saffron and turmeric.
- Organic colors - Shades that are inspired by natural materials such as wood, stone and the earth.
- High gloss finishes - Especially high gloss white. You can completely transform a dresser, armoire or ornate chair by spray painting it with a gloss finish.
- Saturated aqua greens and turquoise. Sea glass, deep teals and rich blue greens work very well against neutral organic colors.
- Simplicity - Soft pastel or natural colors using a bright white trim creates a clean and calm look.
- Urban hues - Edgy metal and concrete finishes work especially well in loft spaces and as a surprise amid more traditional decor.
- Color up on ceilings - Think of your ceiling as a fourth wall. Go deeper in color for a cozy feel in a high ceiling ed room or just a shade darker than the walls.
- Super deep color - Deep, dark chocolate for example (especially in a gloss finish) creates a fresh modern palette for a traditional space. Pair it with bright white trim.
- Bold color trim work - Experiment with unusual color combinations for walls and trim. Go darker on the trim for an updated feel.
- Blue and white - Classic china combination is once more in style. Make it modern by using it in unexpected prints and surfaces.
 | ||||||
| Saturated greens and blues |
Monday, February 13, 2012
Top 10 Ideas for Focal Points
We all know that focal points are a key ingredient to creating the wow factor in a room. Especially a key room for buyers. Whether you are staging your home for sale or simply wanting to update and refresh your living spaces, here are some new ideas for creating or enhancing your room's focal point.
1. Fireplaces
Before TV, the fireplace provided warmth and a gathering spot for family and friends. It still is the most common focal point and often overcrowded or outdated. Update and lighten if appropriate with paint and new tile or stone. Keep in mind the architecture and age of the home when choosing new finishes. Keep mantels simple. Remember the rule of threes. Two accessories on one side and a third on the other create balance.
2. Architectural Windows
Do you have a large window that dominates the room? Play it up with a custom window treatment. Choose colors and a style that draw the eye to the window without distracting from a view. Or leave it bare and let the view shine.
3. Wall Decor
If you have the wall space, a dramatic large piece of art or grouping of frames can really create the wow factor. If you're selling your home make sure the art is not too controversial or distracting.
4. Feature Wall
Does your room lack architectural interest or a natural focal point? Try creating a feature wall with paint. A bold or deep color can do a lot to add impact to a room. Keep in mind your color palette throughout the house and choose a color that coordinates. One red wall feels random unless there are touches of red in other rooms. Consider chocolate brown or dark gray. Both are versatile neutral colors.
5. TV
Flat screen TVs are the new fireplace. If you want to mount your TV on the wall make sure the hardware is concealed either by tracks attached to the wall or by the furniture the TV is placed above. A buffet or console under the flat screen is a smart choice for storage and to create a true focal point.
6. Large Furniture
Do you have a pretty armoire or antique buffet? Treat it as a focal point. Center it on the wall and add two small chairs on either side if there's room. With a buffet or side table adding a large piece of art, or a grouping of art above it also helps draw the eye. Which is the definition of a focal point!
7. Window Treatments
Make not so tall ceilings feel higher by mounting drapes or valance close to the ceiling. In a plain room such as a bedroom, coordinating window treatments, simply done can create warmth and interest.
8. Built Ins
Does your historic home have built ins around the fireplace or in a dining room? Consider painting the back wall of the cabinets a darker or coordinating color. Tasteful lighting inside a cabinet can highlight a well thought out display of glassware, books, or objects.
9. Chandeliers
A stunning light fixture can easily draw the eye and updating a dated chandelier (those old gold and brass ones) can make a huge impact on a dining room or foyer.
10. Grand Staircase
If you're lucky enough to have a beautiful staircase, then you already have your focal point for your foyer, or open entry. Keep the decor simple and let the stairway shine.
Having a well defined focal point in the room is essential to good design. It creates balance and sets the mood for how the room is used. How the room functions is a key element to creating a restful environment and draws potential buyers into the room. If you are looking for a way to kick start redecorating a room, start with the focal point and let it set the color and mood for the rest of the room.
When selling your home, the rooms that most benefit from a defined focal point are the living area and the master bedroom. These are key rooms for buyers and time spent creating an inviting space is a great investment.
These 10 focal point subjects were inspired by the book Decorating: The Smart Approach to Design.
1. Fireplaces
Before TV, the fireplace provided warmth and a gathering spot for family and friends. It still is the most common focal point and often overcrowded or outdated. Update and lighten if appropriate with paint and new tile or stone. Keep in mind the architecture and age of the home when choosing new finishes. Keep mantels simple. Remember the rule of threes. Two accessories on one side and a third on the other create balance.
2. Architectural Windows
Do you have a large window that dominates the room? Play it up with a custom window treatment. Choose colors and a style that draw the eye to the window without distracting from a view. Or leave it bare and let the view shine.
3. Wall Decor
If you have the wall space, a dramatic large piece of art or grouping of frames can really create the wow factor. If you're selling your home make sure the art is not too controversial or distracting.
4. Feature Wall
Does your room lack architectural interest or a natural focal point? Try creating a feature wall with paint. A bold or deep color can do a lot to add impact to a room. Keep in mind your color palette throughout the house and choose a color that coordinates. One red wall feels random unless there are touches of red in other rooms. Consider chocolate brown or dark gray. Both are versatile neutral colors.
5. TV
Flat screen TVs are the new fireplace. If you want to mount your TV on the wall make sure the hardware is concealed either by tracks attached to the wall or by the furniture the TV is placed above. A buffet or console under the flat screen is a smart choice for storage and to create a true focal point.
6. Large Furniture
Do you have a pretty armoire or antique buffet? Treat it as a focal point. Center it on the wall and add two small chairs on either side if there's room. With a buffet or side table adding a large piece of art, or a grouping of art above it also helps draw the eye. Which is the definition of a focal point!
7. Window Treatments
Make not so tall ceilings feel higher by mounting drapes or valance close to the ceiling. In a plain room such as a bedroom, coordinating window treatments, simply done can create warmth and interest.
8. Built Ins
Does your historic home have built ins around the fireplace or in a dining room? Consider painting the back wall of the cabinets a darker or coordinating color. Tasteful lighting inside a cabinet can highlight a well thought out display of glassware, books, or objects.
9. Chandeliers
A stunning light fixture can easily draw the eye and updating a dated chandelier (those old gold and brass ones) can make a huge impact on a dining room or foyer.
10. Grand Staircase
If you're lucky enough to have a beautiful staircase, then you already have your focal point for your foyer, or open entry. Keep the decor simple and let the stairway shine.
Having a well defined focal point in the room is essential to good design. It creates balance and sets the mood for how the room is used. How the room functions is a key element to creating a restful environment and draws potential buyers into the room. If you are looking for a way to kick start redecorating a room, start with the focal point and let it set the color and mood for the rest of the room.
When selling your home, the rooms that most benefit from a defined focal point are the living area and the master bedroom. These are key rooms for buyers and time spent creating an inviting space is a great investment.
These 10 focal point subjects were inspired by the book Decorating: The Smart Approach to Design.
Monday, January 30, 2012
Tenure in the Home and Motivation for Selling
Tenure in the Home and Motivation for Selling
From the National Association of Realtors, here is some insight as to what motivates home sellers.
From the National Association of Realtors, here is some insight as to what motivates home sellers.
- The typical seller tenure in home from 2001 to 2008 was 6 years. In 2009, the median years the seller stayed in the home edged up to 7 years. In 2011, the typical seller sold their home after owning it after 9 years.
- Sellers who owned their home for 11 to 15 years, rose from a low of only 10 percent of sellers in 2006 to a high of 18 percent of sellers in 2011.
- The motivations behind selling a home have also changed in recent years. The top reason sellers sold their home in the latest profile was for a job relocation, tied with the home sellers home was too small—accounting for 17 percent of home sellers.
- Five years ago, the number one reason was the home was too small at 19 percent, but job relocation barely was on the radar at just 9 percent of home sellers.
- Among home sellers aged 45 to 54, job relocation out paces reasons to move substantially with 29 percent of home sellers in this age group moving for a job.
- Moving to avoid possibly foreclosure has increased from less than one percent in 2006 to 8 percent of sellers in the 2011 Profile.
- For more information on the Profile of Home Buyers and Sellers, go to: http://www.realtor.org/topics/homebuyers_sellers_profile
Saturday, January 21, 2012
Who's Buying Your Home?
I was recently talking with a friend about working with a new client who had contacted me to stage their home. She asked a question that surprised me. "Why would anyone need someone to tell them how to get their home ready to sell"?Now granted some of us know the basics of selling a home. Clean it, organize your closets and take care of any deferred maintenance such as paint and repairs. Those of us who have sold a few homes believe we know the drill. We expect to do those minor updates before we put the house on the market. It's comparable to cleaning your home before a party. Put your best face forward.
What's the big difference now when selling your home and why do you need help to stage your home for maximum return?
In the past most buyers came from your local area. FIrst time buyers typically bought into affordable neighborhoods close to amenities and in town areas. Move up buyers typically purchased in established neighborhoods with good schools, good transportation access for commuting. Marketing to your local buyers was a snap as buyers' expectations about home styles and amenities was a known quantity.
Online home buying has changed the local marketplace completely. While there will still be local buyers, when your home is for sale you are now effectively marketing to the world. With Facebook, Twitter, Trulia, Zillow and many other sources, information about you or your home is condensed into a nugget of first impressions. First impressions conveyed mainly by the photos you use to market your home.
Those photos are a reflection of how good a job you did preparing your home for sale. Still want to assess that yourself? Marketing is everything and your home is no exception. A professional home staging company can guide you to a realistic and professional presentation of your home that will appeal to your target buyer. Wherever they're moving from.
Monday, December 5, 2011
If every picture tells a story, make it a best seller!
Recently I used Realtor.com for research while working on a project. I was searching all over the country in different price ranges to get a sampling of current listings.
In this market and with the challenges facing sellers today I was frankly shocked at what I found. Listing after listing had either inadequate photos to market the home or the photos did absolutely nothing to sell a potential buyer on the property.
Realtor.com allows up to 25 photos to participating agents to market homes. I found million dollar plus homes with only 4 photos. Or million dollar homes with photos clearly not taken by a professional.
Here's some examples of photos on the MLS (mulitple listing service):
All of the homes above are listed for $1.5 million and up. Do these photos portray Million Dollar listings to you?
The homes below are a great example of how not to market your home if you want to sell it.
Can you imagine a buyer getting excited about the home these photos represent?
Here are some ideas to keep in mind when listing your home for sale:
• Hire a real estate agent who has a proven track record of marketing their listings with home staging, professional photography and social networking. If buyers can't find your home or see it's potential you've lost them.
• Work with your real estate agent and home stager to prepare your home before photos are taken. Don't rush to list your home before it's ready. Remember. One chance to make a first impression.
• To buyers, your home is only as appealing as your photos. It's worth spending a little extra to have professional photos taken no matter what price range you're in.
• Once you've listed your home, do some research yourself. Check your home's listing on Realtor.com and make sure the photos are appealing, well lit, adequate to represent both exterior and interior and large enough so buyers can use the slide show feature to preview your home. Use as many photos as needed up to the maximum of 25.
• If your home has been on the market for awhile check and make sure photos online represent your home now. A photo of a winter landscape in the summer tells buyers you've been on the market a long time. Take new photos and update your listing.
A great photo is worth it's weight in gold when selling your home. Especially at today's prices!
In this market and with the challenges facing sellers today I was frankly shocked at what I found. Listing after listing had either inadequate photos to market the home or the photos did absolutely nothing to sell a potential buyer on the property.
Realtor.com allows up to 25 photos to participating agents to market homes. I found million dollar plus homes with only 4 photos. Or million dollar homes with photos clearly not taken by a professional.
Here's some examples of photos on the MLS (mulitple listing service):
All of the homes above are listed for $1.5 million and up. Do these photos portray Million Dollar listings to you?
The homes below are a great example of how not to market your home if you want to sell it.
Can you imagine a buyer getting excited about the home these photos represent?
Here are some ideas to keep in mind when listing your home for sale:
• Hire a real estate agent who has a proven track record of marketing their listings with home staging, professional photography and social networking. If buyers can't find your home or see it's potential you've lost them.
• Work with your real estate agent and home stager to prepare your home before photos are taken. Don't rush to list your home before it's ready. Remember. One chance to make a first impression.
• To buyers, your home is only as appealing as your photos. It's worth spending a little extra to have professional photos taken no matter what price range you're in.
• Once you've listed your home, do some research yourself. Check your home's listing on Realtor.com and make sure the photos are appealing, well lit, adequate to represent both exterior and interior and large enough so buyers can use the slide show feature to preview your home. Use as many photos as needed up to the maximum of 25.
• If your home has been on the market for awhile check and make sure photos online represent your home now. A photo of a winter landscape in the summer tells buyers you've been on the market a long time. Take new photos and update your listing.
A great photo is worth it's weight in gold when selling your home. Especially at today's prices!
Subscribe to:
Posts (Atom)