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What can you get for $3M ? You might be surprised....

By Melissa Marro

Real Estate Agent with Keller Williams First Coast Realty - The Marro Team

September 24, 2007 12:22 PM

Ok, I wasn't prospecting tonight.... though I do have a property that I'm staging by October 17th that is currently listed for $3.1 M & nearing the completion of construction. This particular agent is savvy & knows that on the Isle of Palms there is currently 8 years worth of inventory on the market. I thought I would see what the competition might be. I was really surprised by the fact that nearly half of the listings didn't have even a single photo of the interior. Can you imagine looking for a $3M home and not getting to see any photos of the interior? Wow!

Below are some photos I ran across, they are each from DIFFERENT homes..... remember the criteria was a minimim of $3 Million.... (at least one of these was actually over $5 million)

Ok, now taste is subjective but do these photos suprise anyone else? I know many buyers who can afford these homes can also afford interior designers to remodel the rooms, strip wallpaper, etc. However, with 8 years of inventory currently available in this particular market, do you think they are really putting their best foot forward? You know.... making the best First Impression possible?

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Anthony Stokes-Pereira

Better Homes and Gardens Rand Realty - Nanuet, NY

Realtor

Hi Melissa,

Great listing and wonderful home. Good Luck!!!!!!!!!!!!!!!!!!

Anthony

Sep 24, 2007 12:44 PM

Kimberly Wester

Valparaiso, IN

Melissa- I am not surprised at all. In this area, at least, it seems that the higher the price tag the more specific the decor. What does surprise me, however, is that the sellers in that range seem to be the most resistant to change, yet have the shallowest buyer pool of any market. There is a $2.5M French gothic (totally) mansion in this area that has been on the market for several years and it remains the same...Go figure...

Sep 24, 2007 01:09 PM

Juliet Johnson

Vizzitopia - St Johns, FL

Jacksonville Photography & Digital Marketing

Brilliantly awful photos!! Clearly they need you. Do all these places have a view? I have found that homes with great views have owners that think the home will sell itself and they won't have to do a thing!

There again, are these rental income producing properties? That should tell you another whole set of stories!

Really looking forward to seeing what you're gonna do with a $3.1. Take lots of pix.

Sep 24, 2007 01:49 PM

Melissa Marro

Keller Williams First Coast Realty - The Marro Team - Orange Park, FL

Jacksonville Real Estate and Home Staging

Anthony - this isn't the home I'm staging. The one I'm staging is new constructin & very french country.. I'm thrilled as it is personally my favorite decor.... though since it is a beach home, it's a little different...

Kimberly - I know... go figure! It is all very confusing & then they wonder why they don't sell for a year or more!

Juliet - Most of these are beach homes & do have views. This doesn't really help them as almost all of their competition also have views. These are not rental income properties, but rather single family residences. I will definately take lots of photos of the one I do & post them! Thanks!

Sep 24, 2007 02:20 PM

Cheri Dueker

Transitional Designs, LLC - Saint Louis, MO

Transitional Designs, LLC, Home Staging St. Louis

Melissa: We completed consultations on 2 500K homes yesterday that needed ALOT of help. The home that had a professional designer had a purple kitchen with a heavy wallpaper border (the seller LOVES it). Go figure! Of course they have been on the market for up to a year without a single offer and now the REA has hired us to stage so she can get these properties sold......Both of these homes could be in your group of photos...

Sep 24, 2007 02:28 PM

Jennifer G

Premier Home Staging - Reno, NV

WOW is all I can say. -WOW-

I don't post much, but I just had to post to this ...

Juliet: I love your comment "Brilliantly awful photos!!". So true, so true ... especially the bottom one!

At least the other ones do have focal points in a weird engrossed way. But, where in the heck do your eyes go in the bottom photo? They don't, they can't. Talk about too much going on in one room. WOW.

Sep 24, 2007 02:44 PM

Cindy Lin

Staged4more School of Home Staging - South San Francisco, CA

Host, The Home Staging Show podcast

oh my goodness. i think someone needs to PAY me 3 million to buy it! ;)

Cheers,

Cindy

Sep 24, 2007 03:35 PM

Jackie Peraza

Perceptions AdverStaging(TM), LLC - Framingham, MA

Home Stager - Framingham, Massachusetts

Is 'blech' a word? It's all I think when I see that living room.

Jackie

Sep 24, 2007 04:42 PM

Maureen Maureen

Orangeburg, NY

Melissa - I recently did a presentation in an affluent sort of bohemian area, the Broker told me that most of their homes had been decorated by professional interior designers. She went on to say the she could see the benefits for other areas they would have little cause for my services. I swear your pics look exactly like what I saw on MLS.

Just because it was professionally decorated (probably in the 80's) does not mean it does not need to be staged. I am not taking a shot at Interior Designers, I'm sure they would all agree that designing a home for specific customer preferences is not the same as staging it. I recently did a redesign where the client wanted the family room painted a deep red. It is very dark, they wanted it to look like a media room. If the home ever went on the market it would absolutely need staging.

Sep 25, 2007 12:04 AM

What can you get for $3M ? You might be surprised....

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