Home Staging for Under $1000

Kevin Shirley, Associate Broker (DC), ASP, GRI, e-PRO

As you prepare to put your home on the market, you already understand that getting it ready for prospective buyers is an important consideration. However, it can be challenging to determine the best way to attract buyers’ interest if you are on a budget.

The idea of home staging often makes home sellers think about costly renovations and upgrades to the home. However, not all homes need such expenses to attract the attention of interested buyers. Here are some ideas for home staging for under $1000.

As you make plans to sell your home, you may find that you have a limited budget set aside for marketing your home. A REALTOR will likely recommend that you stage your home to get the best results from buyers. The benefits that home staging could potentially have on the sale price of your home are enormous. Here are a few reasons why Realtors recommend staging a home:

• Staged homes look better in internet photos. The majority of clients review online listings before they decide to contact an agent regarding a property;
• Staged homes give a better impression of what it would be like to live in the home for the buyer;
• Staging eliminates elements of a home that would likely be unattractive to buyers (such as your personal effects);
• Staged homes appear to be better maintained and demonstrate that they are being represented by a professional seller.

As a result, staged homes often perform far better in terms of the average sale price and often sell faster than homes that have not been staged.

Start with a thorough cleaning

The most significant difference that can be made to a home that is being readied for sale is to clean the house thoroughly. This means packing up personal items and placing them in storage. Scrub walls, floors, and fixtures to get rid of dust and stains. The goal is to make sure that your home looks as clean as possible. Don’t forget about areas like the attic or garage, where dust and junk can pile up. It is not okay to leave these areas cluttered.

The best part about cleaning your property is that you can get it done for little to no cost, provided that you have the time and the help that you need to clean your property. Spend at least several days cleaning your property to ensure that everything is in the best shape possible.

Let the light in

As a free tip, you might want to consider adding more light. “Open the curtains and turn on all the lights (at least while you are showing the house). Light makes a space seem bigger and less claustrophobic. It lets the space breathe!” says Pamela Cole Harris, budget decorating blogger.

Adding more light can also help show prospective buyers that you have nothing to hide. In poorly lit homes, buyers may simply assume that the home’s wiring does not allow for adequate light. The potential buyer may also believe that the seller is trying to hide something by keeping the home dimly lit.

Paint

Painting the home can do wonders to breathe new life in your home. Not only will painting cover up dirty areas, but the paint job can also help remove the evidence of your personal preferences within the home. By painting a neutral color, such as white or beige, you can appeal to as many buyers as possible by painting the walls of the home.

If you have time, you can even do the painting yourself to not have to spend money to hire someone to do it for you. Try to avoid adding decorative elements into the paint job, as they may or may not appeal to buyers.

As you paint, make sure that you don’t overlook the details, as potential buyers will notice. “Tighten any loose doors or cabinets and re-stain, paint, or varnish doors. Paint the trim on floors and ceilings. Also, paint outside trims and nicks on the house, especially where clients come into the house.” says Rhonda Burns of Windermere Real Estate, Wenatchee, Washington.

Get rid of old carpets

Getting rid of old carpets is an excellent idea, especially if there are hardwood floors underneath the carpet. Old carpet can harbor smells and stains, which can make your home seem dated or poorly maintained. By eliminating old carpets, you can open up potential buyers to a new range of possibilities for your home.

Adjust your furniture arrangement

If you are on a limited budget for your home staging, buying new furniture is probably not within your budget. Instead of purchasing new furniture, decide on a new arrangement for your furniture that leaves plenty of space so that the furniture does not crowd the room. You should also come up with an arrangement that is free-flowing and doesn’t block windows and doors. If you are working with a smaller room or too many furniture items in a space, consider picking up some of the larger items and removing them from the room.

Staging a property does not have to mean breaking the bank. If your goal is to make your home look great to buyers while spending the least amount of money possible, these tips should help get you on the right track.

 

Preparing for Showings and Open Houses, Keep the Audience in Mind

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

Getting properties ready for open houses or other showings takes a bit of determination — especially when it comes to paring down all the ‘stuff’ accumulated through the years. It’s a push-pull between “I still use that every day!” and “This room still looks too crowded!” You may update the paint, add some fresh landscaping, but it’s the emptying-out part that sometimes takes the most resolve.

So, after that’s all done, are you ready for showings?

Not quite.

Showings and open houses are a bit like concerts and plays. They’re presentations that (hopefully) result in a pleasurable experience. To make that happen, there have to be workers who prepare behind the scenes. When successful, their efforts are invisible — a “hit” show seems to progress by itself, effortlessly. Showings and open houses have that in common with theatrical productions, and to be successful, one other thing has to be present: The focus should be on the audience, not the cast members or crew. For home showings, that means thinking about what prospective buyers (the audience) will encounter as they walk from room to room.

Allowing yourself to imagine how someone is not familiar with your house will experience an exercise that yields another beneficial side effect. It reminds you that showings and open houses are staged to invite strangers onto the property — and that should prompt a few additional precautions.

First, think about children. You can’t keep “looky-loos” from showing up occasionally, but prospects who bring their children often mean business. You should ensure that your home is free of potential child hazards before showings. Just as you would child-proof for family member visits, eliminate unnecessarily long extension cords, tempting (and sharp) fireplace pokers, knickknacks small enough to be choking hazards (should have packed them up, anyway!), and any other dangerous thing that might attract little fingers.

Not only because of children, clear as much of the half-used debris from cabinets and shelves as possible. Make them look like the spacious ones you see on HGTV — your “audience” will be impressed with the abundance of storage. Don’t forget the medicine cabinet. Secure all medications so you don’t have to worry when you are gone or out of the room. Clean out the “junk drawer” or the place where you keep mail or bills. Everything will look organized, and your private information will be secure from over-curious eyes. You may want to get a lockbox for added security for these and for jewelry and firearms.

When you do walk-throughs like a first-time visitor, you will find that you’re much more able to relax while your trusted real estate agent is conducting showings. Showings are just part of what will make up an effective marketing effort for your home. Give me a call to discuss how we can make all the pieces fit together!

 

Why Right Now May Be the Time to Sell Your House

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest REALTORS Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:

As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

What’s Your Home’s Emotional IQ?

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

When it comes to selling your house, the first attributes that will bring in prospective buyers will be found in your listing description: Size, location, and all the details that either match prospects’ wish lists (or don’t). Price is in there, too, of course. Next comes curb appeal, which can turn on or turn off prospective buyers. Although it is often the second “at bat” you get when you are selling your house, it’s not usually decisive. The third attribute can be just that — a bunch of factors that can hook your ultimate buyers.

Call it your home’s “emotional IQ.” Everything else is necessary, but emotion plays a decisive role in selling your house. That’s because home is, well, home — where people hang their hats, raise their kids, spend their precious downtime, and where the wi-fi connects automatically. When potential buyers come to your house, they may think they are checking out four walls and a roof, but they are much more likely to be seeking a place that tugs at their emotions.

All very well and good, but how do you up your home’s emotional IQ (and snag the sale in the process)? Look objectively at your home, then think about the emotional plays that will get them where it counts — through their senses. Give your home a quick sensory scan, looking for things that cue all five:

• Sight. Is your home clean? Is it decorated and staged (but not so much that potential buyers can’t imagine themselves in it)? Make sure your home is as spotless as possible and warm but not personal. When room entrances are arranged to feel open, they look welcoming: A robust way to please the eye.
• Sound. Does your home sound like a home? There’s nothing less emotionally pleasing than doing a walkthrough of an entirely empty shell of a house. Attractive floor coverings (rugs and throws) can eliminate the unbroken echo of footsteps — and make your home feel more inviting, less clinical. And don’t forget a drop or two of 3-in-1 oil or WD40 for squeaking doors!
• Smell. The nose is a decisive emotive factor. Aromas can evoke nostalgia, bringing on the feeling of well-being that comes with familiarity — but it can also sound alarm bells. Make sure the air doesn’t carry strong chemical or perfume smells. Better to throw a few cookies into the oven before walkthroughs arrive. It makes it easy for potential buyers to imagine themselves living, working, eating, and enjoying time in your home.
• Touch. Look for surfaces potential buyers may touch, and make them clean and inviting. Importantly, door latches and light switches should feel sound and serviceable.
• Taste. No — nobody can really taste a home, but selling your house may come down to leaving your personal taste at the door. It’s risky to forget to focus on the most tasteful place of all — the kitchen. The old real estate agent trope that gorgeous kitchens sell houses is more true than not, so if yours is hopeless, it may prove judicious to spend your upgrade dollars in a modern, open kitchen space.

How does your home’s emotional IQ add up? If you’re lacking in just one area, congratulations. You know what to fix, and a few subtle tweaks will help a lot. If you’re lacking in several areas, give me a call! I may be able to recommend some quick fixes or point to a home staging professional. Don’t forget: Whether buying or selling your house, things can get emotional. Take a deep breath, remember the real purpose of a home, and be ready to move!

Marketing Your Home to Millennials

Kevin Shirley, Associate Broker (DC), e-PRO, GRI, ASP

The generation born between the early 80s and just after the turn of the century (aka Millennials) has been slower to take the first steps toward homeownership than previous generations. That’s likely one of the byproducts of the cultural and economic shifts that have combined to make real estate less affordable (and proportionately less appealing). While there is no denying that lately, it’s been a challenging environment for many Millennials to jump into the real estate market in there are still plenty of young people who would like to buy a home.

But what makes real estate attractive to these younger prospects can be a lot different than what has traditionally drawn previous generations of buyers. And with fewer motivated candidates in this younger generation, if you will be selling your own property anytime soon, you should have your antennae up for how to include them in with your other potential buyers.

It’s no secret that Millennials devote a disproportionate amount of their time in the online world. In 2013, the number of hours Millennials spent on the Internet increased by 25% to nearly 25 hours per week. In short, homes with poor wireless and mobile connections will be a difficult sell to millennial buyers. If your current connection is slow, research other providers that will be available for a new buyer. The fact that such options are available can be enough to remove what could potentially block a sale.

Millennial buyers (well, most buyers, actually) don’t like cluttered homes — especially those littered with outdated furniture: it’s just too much of a leap to picture how they could make their own lifestyle fit into such a space. According to the real estate website HomeGain, sellers who invest just $500 in home staging can be expected to reap an average 343% on that investment.

Millennials work from home in more significant numbers than ever before — so presenting at least one of your rooms as a home office can create an appealing environment. Even if a room is currently being used for other purposes, having a wireless device working in a corner will usually be enough of a cue to point out its home office potential. If no dedicated room is available, staging a corner in the kitchen as a mobile docking/work station can also do the trick.

Millennials aren’t just refraining from purchasing homes — they’re also avoiding car purchases in the same numbers. The percentage of 16- to 24-year-olds with driver’s licenses has been dropping since 1997 (it’s now under 70% for the first time since the early ’60s). Walkability describes how easy or difficult it is to walk to work, public transportation, stores, parks, and other facilities. If this factor is a real estate plus for your home, create a bullet point list of approximate times or distances to local features closest to your property. Five or six should be enough (even if some are just a pond or small market!).

There is a convincing amount of evidence indicating that Millennials are simply delaying real estate purchases — rather than planning to skip homeownership altogether. As the economy slowly improves, we expect more significant numbers of younger buyers to enter the real estate market. If you will be listing your property soon, it’s essential to keep all potential client pools in mind.

Why It Makes Sense to Sell Your House This Holiday Season

If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers (See graph below):

When the supply of houses for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This means competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.

As this happens, prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. So, if your neighbors decide to remove their listings this season, your house may quickly rise to the top of a holiday buyer’s wish list if you stay on the market.

Today, there are many buyers who are ready, willing, and able to purchase. Record-low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live and to take action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.

Bottom Line

Home prices are appreciating in today’s sellers’ market. Making your home available over the next few weeks will give you the most exposure to buyers who will be actively competing against each other to purchase it.

My Neighbor’s House Is For Sale! How Can I Compete?

By Kevin Shirley, Associate Broker (DC), ASP, GRI, e-PRO

How to sell your home at the same time your neighbor’s place is on the market and still remain friends.
It can feel intimidating to put your home up for sale at the same time your neighbor does, but remember that it’s not who’s on the market first that matters – it’s about the deal itself. Here are some strategic moves to make your home stand out to interested buyers touring multiple homes on the same block.

“If you’re like most people, then you fell in love with your home and the neighborhood when you purchased it. But as your life changed over time, you decided to move onto something different. You started planning to sell your home and created an agreeable timeline. Then as you take out the trash one morning, you see a for-sale sign in your neighbor’s front yard. What do you do now? The last thing on your mind is that your neighbor would be doing the same thing as you.”

There are ways for both of you to sell your home and still keep the peace. To stand out from the house right next to you, you’ll need to create a unique layout, amp up your curb appeal, and make sure your home is spotless. Marketing is also going to play a critical role in selling your home efficiently, so when you look for a realtor, be sure to ask about their approach in this department.

Tour Your Neighbor’s Home

Getting an idea of how your neighbor’s home flows and how they decorate can help you stage your own home. Make sure to pay attention to the details like the condition of their walls, floors, light fixtures, and windows in each room. Take your time here. Notice if their kitchen has newer appliances and if their bathrooms have recently been upgraded. This will give them a higher appraisal number, thus increasing their home’s value.

Check out what amenities the home comes with. Is there a working fireplace, security system, or a large backyard? These features can be hard to compete with if you have a similar home layout but lack in the extras department. Even though you can’t magically add a beautiful exposed brick fireplace, you can still offer valuable amenities.

Deep Clean and De-clutter Your Home

This will be an enormous undertaking, and you might need to enlist your family or professionals’ help to make sure your home is squeaky clean. Consider washing walls, pressure-washing your driveway and exterior paint, and cleaning your carpets. By the time you’re done cleaning, it will be much easier to maintain this high-polished level of cleanliness during your showing schedule. The hard part is getting there, but spotless windows and sparkling kitchen backsplashes sell much better than dingy, “lived-in” rooms.

Put away any items that are too personal, like family portraits and knickknacks. You want to make your home look like a model home as much as possible without sacrificing your day-to-day routines. Of course, people will know you still live here, but it’s also hard for them to imagine their lives in your home if there are personal mementos on every level surface and wall. Think about it like this: your home should be a blank canvas to project their lives onto. The more neutral your space is, the easier it will be for buyers to envision themselves there.

Repair and Repaint

Anything minor needs to be fixed immediately. Think about what you saw while touring your neighbor’s house, and make sure you cover those trouble areas. After you’ve gone through and cleaned your home thoroughly, you’ll be able to see the places that need repairs. These repairs will upgrade your space, helping add to your amenities list.

Sometimes a nice new coat of paint can really help liven up a room. To start, freshen up your living, dining, and bedrooms with one top coat of paint. Next, cover your front door, garage door, and any other smaller detail that stands out to you. Conceal any scuffs on walls behind doors and outdoor staircases, too, paying particular attention to your highest traffic areas, such as a mudroom or a front entryway.

Curb Appeal

Chances are your neighbor has similar plants in their front yard. You’ll want to make small changes in your landscape to be different, but don’t go overboard. No custom lawn art or garden gnome collections – just make it look polished and well kept. Your yard will be the first thing people see when they drive up to take a tour, giving people a great first impression.

Uproot every single weed, and take a few minutes every day to check for any new ones. Freshen up the planters, haul away all the dead leaves, and give everything a good watering. If you have fruit trees, pick up all fallen fruit. Also, clean your rain gutters while you’re hauling away dead greenery.

Staging: Make It Different

Now it’s time to take your notes from your neighbor’s tour and put them to work. Arrange your furniture differently, and pick a different color scheme. Then, walk through your home as if you were a buyer, and note any trouble areas that need adjusting. This is also a great time to do a thorough check up on each room’s cleanliness.

Kitchens and bathrooms will make the most impact during these tours. Make the bigger appliances shine and clear most of the smaller ones from your counters completely. Take the trashcan out of the bathroom, as well as any bars of soap. You’ll really only want decorative towels on display, one lovely candle, and a roll of toilet paper in there during a showing – no toothbrushes or toiletries taking up valuable counter space.

Marketing with a Pro

Get a REALTOR who knows the local area well and has experience using trusted marketing methods to attract the largest audience. This is going to help you stand out from your neighbor. A tech-savvy realtor will know the best ways to take photos of your home, make informational flyers, as well as craft an excellent online listing. Social media can also help give buyers a better idea of all that your home has to offer; ask your REALTOR for recommendations on how to further attract potential buyers.

Stay Focused on the Sale, Not the Competition

Don’t waste too much of your time and resources by trying to outdo your neighbor. Remember, you still want to be friends after this, so burning bridges now will only make you both bitter. Having two beautiful homes for sale on the same block can be an advantage to pulling in potential buyers, so stay cordial during this process and trust that your home’s charm and value will draw the perfect buyer in no time.