Stage from the start
Whether you’re thinking of putting your home on the market or your home is currently for sale, you should take seriously the professional advice given by real estate agents and professional home stagers.
Within the last year, I’ve noticed a shift, with most sellers becoming more open to taking advice when it comes to making necessary changes to get their homes ready for the market.
However, there are always a few reluctant sellers who do not feel it is necessary to make changes. Unfortunately, they realize later that it has cost them so much more in the long run.
After numerous months of no activity and no showings on their homes and paying the monthly mortgage, taxes, utility bills, along with all the upkeep, these reluctant sellers realize they would have been better off investing a little time cleaning things up, organizing, painting or having their home staged professionally to make it shine in a market with so many options.
Some of these sellers, even after six months of having no success, think changing real estate companies will get them the sale and do not consider that the price is why their home is not selling. They end up having to reduce the price and then making the changes anyway. All too often, they then find out that potential buyers have moved on, are no longer interested and have written an offer and are closing on a different property.
Shift in market
This is a big mistake for sellers. The market has shifted, and national statistics show that most homes are now selling at least 5 percent below their assessed value.
According to the Realtors Association of Northeast Wisconsin, the current simple market study taken from the multiple listing service for June 2010 to June 2011 shows that homes listed from zero to $90,000 range in Northeast Wisconsin have a little over a 13-month inventory. The median price range of homes listed in the $200,000 to $225,000 has a 24-month inventory. This is based on the units sold in these categories within the last 12 months in the Northeast Wisconsin Multiple Listing Service.
Knowing the high volume of inventory, it is important for sellers to be well informed before listing their homes.
There are plenty of qualified buyers, and the interest rates are at an all-time low. There are also options available for some first-time homebuyers, so this is a great time to buy real estate.
As a seller, the important thing is to take advantage of all your options, create some of your own incentives, and keep in mind that when buyers are looking, they have many choices and at bargain prices.
Home as product
Competition is elevated, so your home has to be priced right and look better than all the other homes that are for sale in order to even get a prospective buyer to take a look.
Consider your home as a product, just as you would look at products at your local store. What features, benefits, positives and negatives does your product have?
Having your home staged before presenting it to buyers is really the best way to get it sold in the shortest amount of time for optimal price.
Staging is the process of preparing your home before marketing it, regardless of its location, size, condition, price range or whether it is vacant or occupied.
Most staging packages are at a minimal expense and well worth the investment. In some cases, stagers may offer complimentary advice to get you started.
Being prepared is the best way to get results when selling your home. Checking into all your options will save you time and money. In the end, you will have more success in selling your home.
Written by Ann M. Sinisi. Ann Sinisi is a Realtor in First Weber Group’s Fond du Lac office. She is a staging professional and buyer representative. She also has a Green designation. This article originally appeared on fdlreporter.com
Here are some additional articles from the First Weber Wisconsin real estate & Wisconsin living blog:
The cost of staging is less than your first price reduction
Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog for information on how staging can help sell your Wisconsin property. Sellers must be prepared AND priced right when they hit the market in order to make a good first impression on Wisconsin home buyers. If your Wisconsin property is currently for sale, check out your competition on firstweber.com which includes all listings of participating brokers on the site. You can also view sold prices. Some areas of Wisconsin will need to create a free My First Weber Account first– MLS rules – the metro Milwaukee area and South Central Wisconsin MLS systems do not require registration. For people in those areas, you can search sold property in Wisconsin here.
photo credit http://www.flickr.com/photos/realestaging/2631355188/