One of my recent condo listings in Silver Spring, MD sold super fast, for 8K above list price and with no contingencies! This was not a case of, well in this market everything sells, but one that emphasizes how much properly preparing and staging your home for sale can pay off.
This particular condo unit fronts busy Georgia Ave. The subdivision, Americana Finnmark, is also an older one with a beige and brown 70s color scheme that is not the most appealing. The condo fee for a 2-bedroom unit runs more than $900 a month but does include all utilities. That's quite a bit on top of a mortgage payment. In fact, one buyer who was planning on writing an offer on this unit had to pass after punching the numbers with their lender. What speaks for the community are the many amenities (outdoor pool, BBQ areas, tot lot, dog park, tennis & basketball courts) and its location across the street from the Forest Glen metro stop.
I first sold a condo in this community back in 2007. I know it well and keep an eye on all activity there. It's not unusual for a property to sit on the market for a few weeks, sometimes even months, especially when there's competition. It's crucial to properly prepare, address any defects, make improvements if needed, time it right, and stage and market to attract buyers and to celebrate a Happy Closing Day.
This was our gameplan and it certainly paid off for my clients.
The unit received a fresh coat of paint throughout. Light fixtures were replaced, a fan and light switch was repaired, new flooring was added in the half bath, new carpet was installed in most areas while leaving some of the original parquet exposed for a touch of mid-century modern vibe, and the condo was thoroughly cleaned. The latter shouldn't need mentioning, but yet it does. You'd be surprised how many dirty homes I tour with clients. More about that in another post.
After all the work was completed, my team and I came in with a truckload of furniture and accessories to turn this vacant condo into a home. We brought in furniture that complemented the mid-century vibe and added touches of color throughout.
Staging serves multiple purposes. A staged home looks much more inviting in professional photographs, that is the first impression a buyer will get! You only get one chance to get it right. A staged home helps with spatial awareness, how furniture can be arranged, or how a space can be utilized. A staged home shows that you care. Buyers may be less likely to wonder whether or not it's been maintained throughout the years. Staging turns a house into a home. It elicits emotional responses and allows buyers to envision themselves living there. That is what compels a buyer to make an offer, when it meets needs and budget *and* it is the place they'd like to come home to.
From staged to SOLD! The importance of home staging.