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Low interest rates and Lenders willing to lend money opens the doors of opportunities for Buyers!
As a Seller, it is imperative to have your home make a lasting impression and differ from your competition.
Clearing the clutter and staging the property will give you that competitive edge. Home sweet home , vacation, or investment feel, can be presented to the Buyer without words by presentation alone!
Call upon a Realtor, Interior Decorator and Professional Organizer to assist you in listing your property. Realtor and Advanced International Organizing Professional; visit http://www.jessicapetrucco.com/
Real Estate Staging Statistics Report By RESA
February 18, 2010
Real Estate Staging Statistics Report By RESA Released February 2010
Vacant Homes Previously on the Market
In 2009 vacant homes in our study that were previously on the market on average of 277 Days as un-staged properties had not sold. Those same homes were then taken off the market and staged and re-listed. Those properties on average sold after 63 days on market after they were staged, which is 78% less time on the market.
Real Estate Staging Statistics Report By RESA Released February 2010
Occupied Homes Previously on the Market
In 2009 39 occupied homes (not staged) in our study were previously on the market an average of 233 days unsold. Those homeowners had their properties staged. Those same homes sold in 53 days on average after staging. This is 78% less time on the market.
Real Estate Staging Statistics Report By RESA Released February 2010
Staged First, Listed and SOLD!
Our study includes 167 occupied homes that were staged before they went on the market. These homes sold in 39 days on average after staging.Our study includes 117 vacant homes that were staged before they went on the market. These homes sold in 42 days on average after staging.
How much money could you save by staging your home before listing?
Our study shows 126 homeowners had their property on the market on average of 263 days before they decided to stage. 263 days = 9 months!!!Our study also shows 284 homes that were staged before they went on the market and they sold on average in 40.5 days. This is approximately 223 days less time on the market.223 days = 7 months. As an example, using this formula you can determine approximately how much money you will continue to spend while your home is on the market un-staged.If your mortgage is : $1800.00 If your direct expenses are: $300.00 Total carrying cost per month: $2,100.00
Our study shows home owners had their property on the market for an average of 9 months.$2,100.00 X 9 months = $18,900.00 in expenses. Had those homeowners staged first, their time on market would have been cut by 223 days on average (7 months). $2,100.00 x 7 months= $14,700.00Staging their homes first would have saved them $14,700.00. These numbers are all relative to individual mortgage and expenses. Use this simple formula to determine how much you will save by staging your home or listing before putting it on the market:Mortgage + expenses (utilities etc.) = Monthly expenses Monthly expenses X 9 months (avg. time un-staged) = Cost to list house un-stagedSavings: Expenses x 7 months (average time on market reduced) –staging fee =Savings if you stage your house first!** If you have a price reduction you can also add that into the loss you are taking by listing a property un-staged.
Real Estate Staging Statistics Report By RESA Released February 2009
With more people becoming Internet savvy, according to the NAR Profile of Home buyers and Sellers 2008 “87% of ALL home buyers and 94% of buyers aged 25 to 44 used the Internet to search for homes. Staging continues to be a valuable tool to gain more buyer interest beginning with their initial search on the Internet. Homes today are being eliminated from the “must see” list based on photographs from the Internet. Professional staging is key to the quality of those photos.
Consistent with that thought, the Remodel and Realtor magazine 2008-2009 Cost vs. Value Survey reports on additions, upgrades and replacements in regions across the country that bring the most value per dollar spent. Curb appeal ranked highest in all regions. A recent RESA study found that 99.2% of professional stagers recommend repairs and upgrades toseller when preparing a home for sale, 89% of sellers were willing to address the repairs recommended, 73.5% report their clients invest between $500 to $2000 in repairs.
Professional stagers are instrumental in bringing their first hand experience of their region and the improvements and upgrades that bring more value to the homeowners and Realtors they serve.
Proper list price is the Number One factor in a sale to be evaluated with condition, location and terms that will result in a sale. The Number One factor that can push the SOLD price to the top of the Sold price range is indisputably staging. The two in concert are the path to maximizing equity in any market and a faster sale in ALL markets.
Buyers benefit by purchasing homes that have issues resolved and that are move in ready. A Maritz survey says that 63% of buyers will pay more for move-in ready homes.Staging is no longer a “nice to have”, it is mandatory to maximize equity and makes good business sense for Realtors, homeowners and prospective buyers.
http://www.realestatestagingassociation.com/
