Tag Archives: Home Staging Minneapolis MN

Do I Need to Stage My Home When It’s a Seller’s Market?

I know many people are asking that question and wondering if home staging is needed when inventory is low and homes are selling quickly. The answer may depend a bit but if you don’t stage, may you be leaving some money on the table?  Money on the Table

Let’s say you list your home ‘as is’ and you put the asking price a bit lower so you don’t have to do much of anything. You get an offer within a few weeks, maybe a few thousand below list but overall the percentage is still really good. Ok great!

But now let’s say you bring in a Home Stager, at the very minimum for a Home Staging Consultation, to give you a list of top things to do to get your home in top selling condition. She may suggest some fresh paint, or a couple new light fixtures, some repairs.

Now let’s say you are moving to your new home first and you are wondering if you should list the house empty or stage a couple key rooms with furniture. Will that matter?

Sold Sign

Let’s take a look at an older home I consulted on for a Realtor.  I did recommend some paint, a couple new light fixtures, new vinyl flooring in the kitchen and staging it with fresh modern furniture when they moved out. Here is the email I received from her shortly after is was listed:

 

  • Listed as coming soon 5/8
  • Active listing 5/22
  • 38 showings 5/22, 36 showings 5/23, 10 showings 5/24
  • Received 32 offers!
  • Inspection completed, now pending closing June 30

That’s 84 showings and 32 offers!!! PLUS it sold for $25,100 over list price! Which was over 10% of the list price. Unbelievable!

So yes the market is good. Would the house of sold anyway without staging? Absolutely.  Would the sellers have received 32 offers and sold for $25K over list without staging? We will never know for sure but I don’t think so. Don’t take a chance on leaving money on the table.

 

 

What Today’s Home Buyers Want

Better Homes & Gardens did a Home Buyer Study to see what millennials are looking for in their first home. The ‘next-gen’ buyers may give you some insight on what to do to assist in the sale of your  home.

#1 ) Purchase With A Plan to Stay

36% of these potential buyers see themselves living in that home at least 10 years. I remember when that statistic was 4-5 years. What does that mean? It means that the view of a starter home has changed. These buyers are now investing in more expensive homes with more square footage and areas with good school districts. These sets of wants were typically on the lists for ‘move-up’ buyers so now there is more competition at that level. Now empty nesters are looking to the smaller start-up homes.

 

calendar-1255953_1280       #2) Home Buying Process Takes Longer

Not only is the loan process taking longer, making it even more important to get preapproved, but buyers are taking more time in looking. In 2012 first time home buyers took an average of 3 months from research to closing and repeat buyers took 2 1/2 months. Those same buyers are taking 5 months and 4 months respectively. One reason for this may be because everyone starts their home search online and there are more resources than ever now to do that. The buyers are educating themselves by researching builders, reading articles and doing more research.

 

#3) Buyers are Looking for Move In Ready

Ten years ago buyers would seek out fixer-uppers. Outdated kitchens and baths didn’t scare them, nasty old carpet covering up wood floors wasn’t a big deal. Now 52% of buyers want a newly built home or one that doesn’t require any renovations or repairs before moving in. They are willing to do cosmetic changes or upgrades, they just don’t want to deal with extensive work.

 

#4) The Kitchen Being the Most Important Room is Stronger Than Ever

The kitchen motivates the buyer more than ever and I know it did me! Islands are really big right now, both in wish lists and the ability to seat people. High end appliances with custom cabinets, double ovens for entertaining are all on the list. 66% of buyers selected  a state-of-the-art kitchen as their most desired luxury.

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#5) It Has To Be A Good Investment

Today’s buyer is looking to make good choices and 65% see buying a home as a good investment for their future. To maximize their investment they need to look at such things as the area (up and coming and growing) and the size of other houses in the neighborhood.

If you are in the market to buy a new home, or selling your home, these trends can help you to determine what your competition looks like.

 

Read full Better Homes & Garden article here.

 

 

Prepare Your Home For Sale and Stay Safe During Covid-19

There are still many great reasons to sell your home during this time of fighting a virus. A concern to many however, and rightfully so, is coming into contact with others when you don’t know where they have been.

The nice thing about technology is that you can still have a certified home stager give you expert advice on how to get your home in top selling condition without having to come in contact with anyone.

I have done many ‘distance’ home staging consultations for clients with cabins out of town or living out of state. It can be done well to offer assistance in getting a home in top selling condition and still stay safe.

There are two options:

  • FaceTime/Skype with you:  Skype

This works well if there are two people present at the home. One to hold the phone and one to take notes. This option is helpful in that we can focus in immediately on problem areas.

It can be challenging in that it is difficult to hold the phone steady so that I can see clearly, background noise such as children in the home can be distracting, or if you are trying to take notes and hold the phone at the same time. This may be difficult for older clients, those not tech savvy or without a strong internet connection.

This option is nice however in that questions can be answered back and forth in real time.

 

Facetime

 

  • Send Me Photos of Your Home:

Living Room With this option I will provide a list of what photos you should take of your home. Email or text them to me and I will go through them and write up recommendations for each room. The list of recommendations will be emailed to you along with any questions I may have of the space. Either via email or by scheduling a follow up telephone call, we can go over your questions and discuss any questions that remain for me.

This option works great in that I can take my time viewing each room and the notes are already done for you. The photos also provide more detail and I can zoom in on corners.     Checklist

 

With either option there will be an opportunity to follow up with me to address any remaining or unanswered questions.    There may be times that a combination of the above makes sense.

 

When you are ready to schedule your Virtual Home Staging Consultation, I will provide you with more details and we’ll discuss the best option for you.

 

Hopefully this is a solution to a very short term problem. BUT I CAN HELP YOU NO MATTER WHERE YOU ARE!

With stores and restaurants closed, now is the perfect time to be working on that checklist of things needing to be done before listing your home. Now is a great time even if you won’t be listing for many months. Got the time? Get ahead of the game!