10 REASONS NOT TO STAGE YOUR HOME

1.  We want to test the market for 90 days.  And on the 91st day?  Price reduction--and 90 days worth of potential buyers who have already eliminated your property. 

2.  It costs too much money.  I have never seen a home where the staging costs would have exceeded the first price reduction.  And that doesn't even factor in the monthly carrying cost of the home. 

3.  We can't stage the house, we're living in it.  One common misconception is that staging is only for vacant homes.  Every home/condo can be staged, and you can actually live in it after staging.   

4.  We didn't have to stage any of the other properties we sold over the years.  Yes, once upon a time you could generate three offers by 5 p.m. on the same day your Realtor put the For Sale sign in your yard.  Not now.  Buyers are picky and they have a lot of homes to choose from. 

5.  Everyone loves our house so buyers will love it, too.   What you, your friends and relatives love about your house may not be what today's buyer wants.  Sellers are often baffled by the feedback they get after showings--amazed that buyers have found things they don't like about the property. 

6. We can clean the carpets and declutter without someone telling us how.  Yes, you can (and should) do this, but it is a tiny piece of staging.  Do you know what separates  "clutter" from "asset"?  And what about all the other things that staging encompasses, like traffic flows, highlighting architectural features, updating, and appealing to your target market?

7.  We have no desire to remove/change our _______________ (wallpaper/mirrored tile/gold faucets/paneling/dated light fixtures . . .).  And neither do buyers.  Better to keep your home or be ready to sell at a deep discount. 

8.  The view alone will sell this place.  Then why many months later are these great view homes/condos still on the market?  Could it be that buyers want something to go with the view--like a comfortable, move-in ready home?

9.  We would rather let the buyers makes their own paint/flooring choices.  And that equals a price reduction.  If buyers do make an offer on your home they will double or triple the cost of these items and reflect that in their discounted offer price--which includes a deduction for the inconvenience. 

10. Our home is professionally decorated.  A professionally decorated home is tailored to the owner's particular needs.  Does it work for the new buyer's needs?  You could see #1 above . . . .

These are all great reasons--

• for price reductions
• for extended time on the market
• for buyers not coming to look at your home
• for buyers not coming back for a second look

There are dozens of reasons not to stage, but only one good reason to stage--getting your home sold faster for the highest possible price.  Staging is preparing your home for sale and creating a home that buyers want to buy.  If you want to be in the best competitive position in this market today, consult with a professional home stager before listing your property for sale. 

 

 

 

 

My Pay Toilet Is A Little Backed Up!

This past Friday I met with a client to list his home, an unoccupied short sale in the San Tan Valley, we arrived to find my client using towels to absorb what appeared to be a flood in the downstairs bathroom.

I had spoken with him earlier in the day and he hadn't mentioned any plumbing issues so I was surprised and concerned as the entire house, including the bathrooms, have beautiful hardwood floors.

What happened? I ask. It's the sewer company, he said.

The sewer company?.

Yep, they blocked the pipe.

I'm sure my mouth was open. What do you mean?

I was cleaning the toilets upstairs and down and after flushing them I noticed the downstairs bath was flooded.

Why would they do that, how can they do that?

We have XYZ, (not their real company name), a private sewer company and my wife forgot to pay the bill, when I realized that she had missed the payment I made it immediately.

I called and talked to the receivables person at XYZ to make sure they weren't going to block the sewer pipe, in fact I called twice and talked with two different people. They both assured me that I was not scheduled to have my service interrupted.

I'm sure my mouth was still open. They physically block the pipe?

Yep, it happened to a friend of ours who lives a couple of blocks from here. He hadn't missed a payment but his neighbor had, XYZ got the address wrong and blocked my friends sewer, it backed up and caused quite a bit of damage.

As soon as he had finished moping up as much water as possible and positioning a fan in the doorway to dry the floor he called the sewer company to report what had happened. To XYZ's credit, within an hour a company representative was at the home to check the damage and start the paperwork to begin the repair process.

My question to XYZ was why not just turn the water off if a bill is delinquent? The answer, water and sewer services are provided by two different private companies.

The company reps inspection took less than 30 minutes. His conclusion, the hard wood floor in the bathroom would have to be replaced, and three of the bathroom walls would need new sheet rock, texture and paint. They expect to have it finished in about 10 days.

As a REALTOR®, I've encountered a lot of unique twists and turns in the listing process, but this is a first!

Ten things to remove before listing...

Everyone has heard rumors of de-cluttering when it's time to sell your home. But, what does that really mean?  Before going hog wild and moving out... here's a few of the most important things to consider removing before you list your home for sale.

10. Personal photos. I don't always recommend removing photos of the 'family' but if you have hallways filled with photos or photos on every end table it is probably necessary. Buyers really DO get distracted by them. They will take them all in as they walk down the hall. Not only do they take away from the home, but it's really disturbing when a buyer is excited to 'know' the sellers. And, the buyers do look at them.

9. Bills and personal papers. I understand that you cannot remove these document from the home all together, but please take the time to organize them, box them up and put them out of sight. If you have bills laying out on the counter or kitchen table it's like an invitation for the buyers to 'peek' at them. Believe me - I discourage it - but it still happens. And as a seller you just don't want to leave the temptation behind.

8. Money. I would love to say that every buyer (and Realtor) going through every home is honest, but I really don't want to test those waters. If you have cash, cash boxes or coin jars sitting out in the open... put them away. It's just better for everyone if it's out of sight. As Realtors we do what we can to protect your home, but your help makes a difference!

7. Valuables. Jewelry, watches, valuable antiques.... anything that might be worth a bit of money that you wouldn't want to lose. Out of sight, out of mind. If buyers don't know they are there they won't think about it. I can't tell you how many homes I've been in where the jewelry is left on the dresser.... somehow it's uncomfortable. At least put it away.

6. Guns and ammo. I don't care if they are in a case or out laying around or under a bed. It's better if you just plain old remove them from the home prior to listing. For some reason they make buyers (in my experience) feel really insecure.

5. Shoes! If you have a pile of shoes at the door... ask yourself why. A pile of shoes gives a buyer two impressions. The first? That there isn't enough storage in your home. 2. That there are too many people living in the home. So, in order to avoid wondering on the part of the buyer... just put them away.

4. Medicine. Take it out. Don't store it on the counter. Don't store it in the cabinet. Don't store it in the bathroom. Remove it. There have been many complaints over the years of potential buyers 'stealing' the medicine out of the cabinets. I have never had it happen on my time clock, but to avoid any trouble it's best to simply remove it.

3. All things on your kitchen counter. Everything? Really? Yup. The cleaner you can leave the counter, the more buyers dream of being in there. Have you ever been in a cluttered kitchen? Does it feel inviting? How about a cleaned up kitchen? Does it make you wanna spend time there? Also, if you store things on the counter it gives the appearance that you do not have enough storage space.

2. No more junk drawers. Seriously. Clean 'em out. There is nothing more tacky than a potential buyer opening the cupboards and drawers and having things sticking out everywhere. Box up all the notes, pens, tacks, and odds and ends and put them away. Chances are you don't dig in the drawer often anyways.

1. Nothing but magnets.... and maybe not even that. Take a photo of your fridge, take everything off, wash the front (and side), and take another photo. It is really refreshing to walk into a home that has a clean fridge. The kids pictures are beautiful (believe me... my fridge is covered in them) but buyer's can't imagine their own children's drawing on there if it is covered with yours. And, the magnets... If they aren't decorative (and even then) they are generally more of a distraction to the room than a help. Consider it.

There are many more ways to declutter a home for sale... but these are some important things to consider. For more information on selling your home in Minnesota... give me a call.

_________________________________________________________________________________________

                 In the meantime... if you are looking to move into the area... I'll wait for you to call!

Selling Real Estate in Minnesota!

If you are looking for professional real estate services I am only a ring away! I am looking forward to working with you. And, please feel free to share my name with anyone that you know who needs assistance buying or selling a home ~ I love referrals!

                                                   Lindsey Hasford, REALTOR
                                                        Coldwell Banker Vision
                                             231 Main Street - Elk River - MN 55330
                                          763-241-5488 (office)  763-218-1347 (cell)
                                           lindseyhasford@coldwellbankervision.com
                                                  http://www.hasfordhomes.com

Who the heck Priced that House? There is trouble brewing...

There is a war raging and some of you may not even have noticed...yet... Others may be right in the heart of it. As the amount of homes Listed on the market declines sharply and the amount of sales continues to increase we have seen market stabilization in a lot of areas including here in the Manchester NH area. Prices have actually began to rise in segments of our market. 

There are 4 distinct sides in this "War of values". Which side will you be taking? 

1. SELLERS: One of the most important things that can help you sell your home is pricing it right. Using a Full time, Full service, Local and well experienced Listing Agent can give you the advantages you need when selling your home. List prices need to be priced at or near market value. The simple truth is over priced listings are one of the only segments of the market that are not selling.

2. BUYERS: With the amount of homes on the market sharply decreasing and sales continuing to rise there is more competition for homes among buyers. The days of 'Low Ball" offers is near over for owner occupants. Most buyers are learning the hard way losing their dream home by making a low offer. It is important to have an experienced buyer agent who can inform you of local trends and values.

3. LISTING AGENTS: With the decrease in Listings, there is pressure on Listing Agents to provide more service. For agents who have been providing a strong service to the banks throughout the last 4-5 years they are being rewarded as some banks consolodate their agent lists.

4. SHORT SALES: When listing short sales the practice of listing the home "way under market value" to attract more offers is leading to an increase in short sale rejections. This practice should be avoided as it is not helping out sellers who are losing their homes to foreclosure becuase of it.

5. BUYER AGENTS: One of the most important things is for Buyer Agents to inform and educate their buyers about current market conditions. Buyers need to be making better first offers. The offers need to follow any guideleines the seller puts forth in bank owned Sales. Offers should be accompanied with pre-quailification letters and forget the low ball offer if there is a lot of interest in a home.

 

IN CONCLUSION: The moral of the story is whether you are an agent, buyer or seller it is time to wake up, do not get caught snoozing and do not miss the boat. There are still some incredible deals out there. Interest rates are still ultra low "for now". Sellers need to be realistic, buyers need to be more realistic and agents need to be on top of their market to be able to provide the service your clients want and need.

It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.

 

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.

We stand by you through every step in selling your home.

PLEASE SEE SOME OF MY MOST POPULAR BLOGS

 

1. TOP 5 TIPS For Buying a Bank Owned Home
2. TIPS AND ADVICE For buying a Short Sale
3. Should a Buyer Use more than 1 Agent to help then buy a home?
4. Can I Purchase a home that is in FORECLOSURE?
5. Are Buyers waging WAR on SELLERS?
6. Do you owe more than your house is worth?
7. Can a Listing Agent submit an offer to a Seller that is "TOO LOW?'
8. THE TOP 5 MYTHS about Todays; REAL ESTATE MARKET
9. THE TOP 5 WAYS to know if "NOW IS THE TIME TO BUY A HOME."
10. THE "SECRETS" to getting a SHORT SALE approved

 

 

 

ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...

If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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Should I buy my house without a Realtor?

Dear Holly,

I am thinking of buying a house. My cousin said that I should really consider working with a Realtor, but I am kind of hands-on-do-it-yourself type and I think I can find a house myself. I don't even understand how Realtors get paid or who they work for in a transaction. Can you shed some light on this and offer some advice?

Many thanks,

Contemplating a Purchase in Northern Virginia

Dear Contemplating a Purchase in Northern Virginia,

True to your nature, you have asked an excellent question, one  which will ensure that you have all the information that you need to proceed.

It is very true that you can probably find a home on your own. What is not true is that you can be assured you have considered all the important aspects of buying a home, evaluated how your purchase lines up with other homes, done a Comparative Market Analysis to make sure you are not overpaying and quite, frankly, seen all that there is to see.

I find that potential buyers often think they have the same information on line that I do; the truth is, I have access to all the public listings on the MLS AND everything that you can find on-line (which is often severely outdated). Often times, I also know about properties that have not yet been listed.  If you are confident that you can 1) find a new home, 2) accurately analyze the offer price, 3) rule out all the other contenders, 4) negotiate the very best price, 5) Navigate the Home Inspection and possible re-negotiation, 6) Know what your Property Owners Report is saying and how to deal with problems, 7) Deal with the myriad of problems and issues that come up along the way--while still holding on to the job that allows you to make this purchase, then maybe you are right. Most people find that it is much more difficult and time consuming than they expected.

When you decide to hire a Realtor to represent you, you must hire one whom you trust and have confidence in. They will most likely ask you to sign a contract that says they represent you.  The contract says that if you violate the contract, you may owe them money. The Buyer's Contract also says, in many cases, that the commission that the Realtor earns will be paid by the seller--even for the Buyer's Realtor. For most Realtors, these commissions are the only income they earn. From this, they must pay all their own expenses, including taxes. This has led suspicious buyers to question whether a buyer broker will always work in their best interest (here is where the trust comes in) or just for the paycheck.  It is my experience that most Realtors are working for 2 things: 1) the commission, but also 2) your repeat business and referrals. Certainly, you are not going to want to come back to, or refer,  a Realtor who is working only for their own self-interest. 

I hope that this answers your questions. If you are considering the purchase of a Northern Virginia home, I would be love to talk to you about how I can help you with the process.

 

 If you like what you've read, please consider subscribing to my blog: 

 

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

The real estate crash didn’t just happen …

The real estate crash didn’t just happen … it was orchestrated like a symphony.

Nothing as dramatic as seeing home values skyrocket seemingly overnight from the late 1990s until 2005, only to crash like a boulder, has happened just once before … in 1929.

Circumstances then were similar to now: banks were organized as unregulated conglomerates, money was treated like water, speculation was rampant, and unbridled greed was pervasive. Consequently, America along with the rest of the world descended into a Great Depression that lasted more than a decade.

In 2008, the financial markets nearly crashed as catastrophically as it did in 1929.

The crisis started with the bankruptcy of Lehman Brothers, then the fourth largest investment bank in the United States. The self-destruction of Lehman Brothers was no accident. The firm out-leveraged their investments 31 to 1, much of its exposure in subprime mortgages. Once Lehman Brothers failed, others toppled right behind it, setting up a worldwide monetary crisis.

When Secretary of Treasury Henry ‘Hank’ Paulson (and former Goldman Sachs CEO) got down on his knees and begged President George W. Bush and our elected representatives to save the country with the Troubled Asset Relief Program (TARP) Act of 2008, America and the world was saved from a complete meltdown.

Many, though, would argue that TARP did not save America. Ask the 4 million homeowners who lost their homes to foreclosure or short sale if it matters to them that Wall Street was saved. Then ask the nearly 14 million other homeowners stuck in their current homes because they’re either underwater or have less than 5% equity left in their houses. The combined 18 million homeowners — 30% of all homeowners — may have a different take.

So what … or who … caused the Big Real Estate Crash and Great Recession in the first place?

Was it homebuyers who bought more home than they could afford?

Or was it attributable to something much bigger? In fact, wasn’t the Great Recession caused by the systematic elimination of monetary protections that had been in place since the Great Depression and replaced by laws enacted in the name of ‘deregulation’?

And was there a master conductor, if you will, waving his wand before the biggest symphony orchestra of all-time?

I’ll let you be the judge.

First, let’s cover the 3 laws that led to the Real Estate Boom And Bust.

3 laws responsible for the real estate boom and bust

Each of these laws served to deregulate the banking, investment and insurance industries but had far-reaching effects on the real estate market in particular and the economy as a whole.

Gramm-Leach-Bliley Act – Also known as the Financial Services Modernization Act of 1999, the Gramm-Leach-Bliley Act essentially took down the Glass-Steagall Act of 1933.

Glass-Steagall was enacted to prevent another stock market crash like the one in 1929. And it worked. There hadn’t been another instance of a Great Crash, Great Depression, or even Great Recession until 2008, nine short years after passage of the Gramm-Leach-Bliley Act.

Glass-Steagall was specifically designed to keep commercial banks, investment banks, and insurance companies as separate businesses. Clearly defined walls were established so that one large financial institution could not make loans to homeowners, for example, then package those loans and sell them to investors, and finally bet against any losses by insuring those investments through their insurance division.

Once the Gramm-Leach-Bliley Act passed, the rush was on. Like sharks in a pool of little fish, big financial companies swallowed smaller companies and rolled commercial banking, investment banking, and insurers into giant conglomerates.

From then on, one company could control everything, and greed rather than sound business judgment and wise investment choices took hold.

1. The commercial banking division of a conglomerate could incentivize mortgage brokers to approve loans for homebuyers — many of them unqualified — in return for high commissions.
2. Then the investment division could sell off the risks associated with any bad loans to investors as high-yield securitized bonds.
3. Finally, the insurance division could arrange for reinsurers outside the company to cover losses.

Everyone was heady with the new business model that generated whopping profits, skyrocketing stock prices, and generous bonuses … until the entire upside-down pyramid built on funny money came crashing down on all of us.  

Commodity Futures Modernization Act of 2000– This law deregulated derivatives trading, which fed into the securitization of mortgage loans into bonds. By bundling bad loans into large bond packages, then divvying them up and selling them off to bondholders through the investment divisions, the mortgage divisions could hedge their bets against losses at even greater margins.

Responsible Lending Act of 2005– Otherwise known as the Loan Shark Protection Act, this law was anything but responsible since it stopped individual states from enacting laws to protect consumers against predatory lending practices.

The Responsible Lending Act of 2005 also ushered in subprime loans.

By signing up for subprime loans, homebuyers who would otherwise be unable to secure a mortgage loan due to bad credit ratings, low income, and no cash for down payments could now move into the home of their dreams … or so they thought.

Subprime loans were tied to ARM loans and teaser rates that made it possible for homebuyers to afford monthly payments. For a while. Until the ARM rates reset.

The result? Within a year of passage, the Responsible Lending Act of 2005 precipitated foreclosures and Short Sales in such large numbers that it eventually took down the entire real estate market, including homeowners who never heard of subprime mortgages.

The conductor

You might think these 3 laws just happened. They didn’t. One man was behind them all.

His name is Phil Gramm, who served as Senator (R-Texas) from 1978 through 2002. He was the 1) ‘Gramm’ of the Gramm-Leach-Bliley Act, 2) one of five cosponsors of the Commodity Futures Modernization Act, and 3) one of the chief lobbyists for the Responsible Lending Act. At the time of this last legislation, Gramm was with financial conglomerate UBS, which had acquired PaineWebber as a direct result of the Gramm-Leach-Bliley Act.

It’s Judy … your North Shore Chicago real estate agent.

* * * * *

JUDY CHAPMAN | Live the life you dream

Residential Sales ∙ Residential Rentals ∙ Short Sales

                  

Koenig & Strey | 1925 Cherry Lane | Northbrook, IL 60062

Judy@ChgoNorthShore.com | Office: 847.749.3811 

 

Up until a year ago, I sold real estate in Orlando FL, explaining why you’ll see many, many posts related to the Orlando real estate market. Now I’m back home in ‘Sweet Home Chicago’, selling real estate primarily in the North Shore and West of North Shore Suburbs.

If you’re interested in relocating to Florida, contact me to get recommendations of some very fine Realtors^® all over the state. I can also refer you to some of the hardest working Short Sale real estate agents throughout the country.

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Are We Moving Towards a Jetson's Style Home or Could We Be Going Back to the Basics?

Are we moving towards a Jetsons style home or could we be going back to the basics?

I read an article in Yahoo Real Estate that looked into the home of 2015 in which it pointed out what we could expect to see more of and less of in the homes of the future.
And, over the past 2 or 3 years, I’ve read that builders were seeing fewer McMansions being built.  Surprisingly, for those hoping to see George Jetson, they may have to wait.

 

Some of the features we can expect to see according to the article are:
    -Spacious Laundry Rooms
    -Master Suite Walk in closets
    -Porches
    -Eat-in Kitchens

What can we expect to see less of:
    -Formal Dining rooms
    -4 bedrooms or more
    -Media or hobby rooms

Of course the economy plays some part in this trend... smaller homes can be less expensive to build. And hopefully our desire to own the “biggest” or have 2 bathrooms for every person in the house will wane.

Some Builders think that all they have to do with Baby Boomers is just put a home into a shrinkie machine (remember those). Baby Boomers still want the features we’ve always had,   As a member of the Boomer segment, I’m not ready to throw in the towel... yet. I still want a kitchen large enough for entertaining. But, we don’t need family rooms that are so large we feel like we have to buy a pool table to fill in the space.  We know that when we have family and friends over, everyone ends up in the kitchen, so we want space for that.  I may be aging but I didn't shrink that much! My Master Bath area is still important to me. What I don’t need are large secondary bedrooms or formal living rooms.  

Use-ability, multi-function areas, and  functionality seem to play a key.  Media rooms?  Seriously... how many times are they really used.  It just sounds nice to say you have one. Who needs a room just for wrapping gifts?  Home offices... absolutely need one.  

Other features we can expect to see are “Green” elements to the home, and either one-story homes or at least if a two story, one where the Master Bedroom is on the first floor.  

How does this information affect Realtors or Home Stagers?  I’d love to hear your thoughts.  For me as a Stager it may mean making sure I highlight the functionality of each room; that I make sure the seller edits their closets to show the storage it has; and to not leave the laundry or utility as an afterthought but to make sure it’s space is highlighted.

As for getting back to the basics?  I see nothing wrong with that... there’s something nice about having the family actually see each other when they’re in the home as opposed to every one being off in their little “i love me” spaces.  

 

 

 

 

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http://www.MrsHomeStaging.com

                     

                                   

 

 

 

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