What’s a better investment for home sellers? Spending a little time and money before listing their home or waiting to see if it’s going to take a price reduction to get it sold?
I did some research on the local market here in Santa Fe, New Mexico. (see the chart below) but you can use this wonderful Trulia chart to understand where your local market is in terms of days on market before a price reduction occurs. It's a powerful reminder of how much it costs when your home sits unsold.
The average price reduction in Santa Fe is 5-10%. In the 87508 zip code, homes are on market an average of 83 days before price is reduced by 5%. A home priced at $500K then has an average price reduction of $25,000. If that doesn't move the home, then there is a 35% chance it will need an other price reduction.
So the bottom line? Try to avoid letting an unprepared home sit on the market. Staging a home for sale is the smart move.
A home staging consultation starts at $175.
A home staging consultation helps your sellers get their home ready to sell. We'll give them an objective professional opinion on making the most of what they have by maximizing the space and features of their home.
We want to help you get the home sold before a price reduction is needed. It' s proven that home staging reduces days on market and creates a more marketable property both online and with showings.
Let us do what we do best. Create a professionally marketed property that sells ahead of the competition. At Hampton Redesign, a professional home staging company serving the Albuquerque and Santa Fe NM area, we know your bottom line will benefit.
by Tessa Skeens
Professional Home Staging and Redesign
Serving Fort Worth TX and Tarrant County
RESA National and Dallas Chapter Member