The occupied unit for sale in this gorgeous 1911 building Show-Smart! Home Staging staged last week seems larger, fresher and will definitely be more appealing to buyers.
...Not to a buyer at the first Open House ...Not to a buyer the first day on the market Staged. But...SOLD!... to the VERY first person to see it Staged! Now, that's a first...for me and the owner who finished rehabbing this 1911 historic Row House for his deceased brother months before we Staged it. Located on North Carolina Ave SE DC, immediately across the street from DC's historic Eastern Market on Capitol Hill, this now beautiful home looked useful, but blank when we met. Rehabbing is great, but not enough to grab buyer's heart strings. The property had been finished and on the market for months unstaged with little or no traffic and no takers.
Here's the kitchen...
One of the two Bathrooms...
The Master Bedroom....
Staging simply warms up a property and shows its potential, don't you think?
Okay, the rule of thumb for investors is to buy the worst house in the best neighborhood, right? But, how do they find it? Easy. Look, I'll show you!
1. Look only in great neighborhoods, duh! Okay, that was a give away.
2. Look for an extended length of time on the market and price reductions.
3. Look only at homes meeting 1. and 2.
4. Then, look for minor repairsthat haven't been made, such as one broken spindle in the front railing that greets you as you near the front door.
5. Look for odd or stale color schemes like a bright red and blue bedroom...
...or the ever popular early 90's pink and blue palette.
6. Look for any outdated decor, such as even custom swag drapes.
7. Look for brass anywhere!
8. Look for needy bathrooms...Yuk!
9. Look for underwhelming kitchens.
10. Look for amateur, sloppy or missing staging.
Okay, I could go on, but you get the point. Please forgive the poor quality of these pictures. They were taken furtively at a well attended open house. You see, this is a real property that just came off the market, sold to my sons (smart boys who listen to their Mother!) for around $200,000-$250,000 under market! Doesn't that just prove the point?
So, if you're the investor, here's your guide. But, if you're a seller, take note and get busy before your property becomes somebody's else's great investment but your low balled, stale sale.
“Staging as a tax deduction, hmm. That might just be enough to persuade my guy to get on board with it. Goodness knows his property needs it.” This from a prominent, top producing REA of 35 years.
If this otherwise very savvy agent didn’t know, what makes you think other REAs or home sellers do?
That said, we all know what happens when you assume things, right.
As we Professional Home Stagers continue our crusade to educate everyone we can about the benefits of what Home Staging brings to the Real Estate industry in general and REAs and Home Sellers in particular, think to bring up the tax deduction probability with everyone you talk to.
After all, isn’t tax deductibility a terrific selling point for investing in Home Staging services. Most people I’ve talked to in my neck of the woods were not aware of it before I brought it up. What about you? Bring it up. Raise the question. Please, don’t just assume everybody knows!
Professional Home Staging really is an investment in selling a house, usually a legitimate tax deductible selling expense, and the IRS said so! But wait, please look into it, check with a CPA. Your case may be different, and the IRS can be so confusing. There may be particulars. We wouldn’t want you to assume anything, don’t you know…
(Are there any CPAs in the house rain? We’d love to hear from you!)
Other posts I found on the question of tax deductibility of Home Staging:
Nov 25, 2007 ... Is staging tax deductible?YES! This may be old news to some, Home Staging services can be considered an advertising fee (See IRS Publication ... activerain.com/blogsview/285195/HOME-STAGING-IS-TAX Labeled Blogs
Julianna: I believe that if a Real Estate Agent pays for staging, it is taxdeductible as a cost of doing business. I'm not sure about the home owner ... activerain.com/blogsview/377201/-Staging-Cents-Is Labeled Blogs
I've heard that Home Staging services are tax deductible as part of your costs of preparing a home for sale. Is this true? Is it a national standard, ... activerain.com/blogsview/154476/Tax-Deductible-Staging
Let’s use the Rain to get some discussion going on the subject. Please add any experience you’ve had on the question of Professional Home Staging as a tax deduction, so we can all learn. Thanks.
First, will somebody turn on the rest of the lights? Second, who's idea was the shopping carts with 4 independently minded wheels? Third, nothing against Swedish, but oh those names...I can't remember or even pronounce most of them. But, oh the ideas I get there, the bargains I find!
Situation: Totally white condo, totally. Pricey, pricey neighborhood. Want in for future referrals. Do a practically pro bono ($1000 budget) job to get them.
Biggest challenge: The not-quite-big-enough-for-a-table kitchen that the unit needs it to have. What to do? Go to IKEA, of course. And, the answer is...my latest "find" - their MUDDAS table and JEFF chairs, $39 and $8, respectively, and oh so adorable! Check it out.
The blank wall that was the only candidate for a table is on the right, just out of this picture.
...and behind you here.
The blank wall. The Ikea answer.
The reason the table is necessary beyond adding value to the property is this is the view passing in the hallway to the living room. The room beyond the kitchen here is the dining room.
The pieces come in several colors, too, as I recall!
FIVE WAYS TO GET OVER STAGE FRIGHT AND GIVE A GREAT PRESENTATION.
1.Realize that nobody is asking or expecting you to talk about Rocket Science. This is Home Staging, something you know and love. You are the rocket scientist as far as these people are concerned. Relax and share the wealth of your natural passion.
2. Realize that people will only be looking at you if you are the only thing to look at . So, relax. Give them something else to look at, a Power Point Presentation, pictures, props, anything to take their eyes off you. Much better for your talk, too.
3. Get ready. Really ready. Proper planning of your presentation automatically gives you confidence. Practicing it, yes, out loud, will automatically make you calmer. You have valuable info to give these people. Get organized. Get ready. Give it to them. Realize that they want it.
4. Realize that by being yourself, YOU will get out of way of the information you came to share. They are only listening to you for the information anyway, not because of anything about YOU at all really. They don’t actually even care who YOU are if you have something they want. Realize that they are much more interested in THEMSELVES. They may even be nervous that you will look at them. Again, divert their attention to the info for yours AND their comfort.
5. Spend your energy and attention on your audience’s reaction to your message. Watching to see if they are getting it will keep you focused and allow your info to get through to them as well as allow you to Get Over Yourself.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
[The Building]
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