We are working on a consultation for a client who has a common problem. I decided to blog on this topic after reading the blog on staging overpriced properties in hopes of getting a sell http://activerain.com/blogsview/171316/Home-Staging-In-The . This client is preparing his home for the market where there is very stiff competition and has completed some pretty major improvements including paint, carpet and bathroom remodels. So the problem.....He has no money for the stage AND he has a break even point that he needs to achieve in the sale. This price is very close to his asking price (before staging.) When we met with the seller and his agent, the conversation turned to the fact that he has already invested a 5K in updates and although the staging bill is small (as the house is now in great shape), he feels he cannot recoup the cost AND he will then need to get his asking price to break even.
This is the second client we have worked with lately that owes so much on his home that he needs to get almost 100% of asking in order to sell and move onto a new home. I believe this is due to the trend of 100% loans of the last few years and now with the softening market, homeowners are finding thier home has not appreciated as much as they believed it would.
These homewoners are n a tough position but our client already has a contingent contract for a new home so he needs to sell. We created a very detailed action plan for him to complete most of the work to save him as much money as possible. Then the plan calls for us to come in and complete a soft stage and get the home on the market.
Made me wonder how many other stagers are running into similar situations and what type of advice would you give this client?