Another Reason to Stage REOs

By
Home Stager with Stage It Atlanta

Another Reason to Stage REOsForclosure Sign

I just read an article Can a lender sue after foreclosure? by Liz Pulliam Weston, about lenders suing their customers after a short sale or foreclosure. In some states, this does not apply, as state laws prohibit this practice.  Luckily, for the states that allow this practice, the fact that the homeowner lost a major (and probably their largest) asset is usually enough to keep the lenders at bay.  Additionally, the foreclosure process is expense and pursuing a customer post-foreclosure/short sale is a risky chance.

My staging wheels started turning feverishly after reading this article.  Often home staging is dismissed when short sales and foreclosures are involved, mainly because of the financial burden.  This is understandable - however, the benefits staging a REO are tremendous. 

Staging usually helps the buyer see the home as a more valuable asset.  Kathy Burke's post (LENDERS: Do You Have REO that is Ready for Market....Why You Need to Stage that Listing!) also brings light to the benefits of staging REO properties.  Look at her pictures, which would you rather buy? 

My reasoning is the higher the offer price, the more likely the lender is to accept said offer and the sooner it gets sold.  What do you think?

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Atlanta Home Staging Professional

Stage It Atlanta, LLC

www.stageitatatlanta.com

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Comments (3)

Anonymous
Kristin Schmidt

Janine,

 

Thanks for the post.  I never really thought of staging a REO before, but it makes a lot of sense!  Great idea:)

Oct 05, 2010 09:55 AM
#1
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I believe staging can help in most situations.  Most stagers will work within whatever budget a seller has to work with.  It doesn't always have to be expensive...staging, even through sweat equity alone, will make a huge difference.

Oct 13, 2010 10:25 AM
Lynn B. Friedman CRS Atlanta, GA 404-939-2727
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Janine Bell 
Glad I found you on Thom Abbott's post ---
Hope you will write posts for all of us again soon!
Have a happy day -
Lynn

Oct 27, 2014 09:48 AM