Selling my House (Part 1)

[dharmagirl]

Recordsclerk,

I don’t quite agree with you. Unless PatB’s house is going for a bargain basement price, I think he needs to spiff it up a bit.

Even in a crappy market, there is still that certain “something” that attracts buyers – I think much of it is psychological.

I’ve been told that buyers make up their mind about a place within the first 10-15 seconds of walking in the door.

When we told our realtor what to list the townhouse at (which we sold in another state), she was skeptical. She even said, “be prepared to wait a while.”

We listed the place for $25K more than her suggested price and spent about $2500 on staging, furniture rental, etc. In the end, we sold the place FAST and got our price.

If we hadnt staged it, we are convinced it would have stayed on the market longer (thus, more mortgage payments) and probably would have garnered a lower sales price.

Many buyers talked about how “inviting” the house felt, etc. Some buyers also noted that in a sea of townhomes, ours really stood out and made an impression.

Clearly, if a seller HAS to sell fast you do what you have to do.

Maybe PatB will get lucky and find a buyer who has imagination and vision.

I still believe a few changes would make a big difference.

[recordsclerk]

I agree that staging a house does work to a point, but it will not get you more then what the market price will allow. There is always an exception to the rule, but price has and always will be the determining factor in a house selling or not. Obviously if you have the time and want top dollar for your home (or top dollar for what the market will allow) you will need to make it presentable. There are many homes currently for sale and the ones that are getting multiple offers are the ones that are priced at or below current market value. I wonderfully staged home priced above market, even slightly above will languish. Most of the homes that are being sold today are bank owned properties that are not well staged, but well priced.

[recordsclerk]

I agree that staging a house does work to a point, but it will not get you more then what the market price will allow. There is always an exception to the rule, but price has and always will be the determining factor in a house selling or not. Obviously if you have the time and want top dollar for your home (or top dollar for what the market will allow) you will need to make it presentable. There are many homes currently for sale and the ones that are getting multiple offers are the ones that are priced at or below current market value. I wonderfully staged home priced above market, even slightly above will languish. Most of the homes that are being sold today are bank owned properties that are not well staged, but well priced.

[recordsclerk]

I agree that staging a house does work to a point, but it will not get you more then what the market price will allow. There is always an exception to the rule, but price has and always will be the determining factor in a house selling or not. Obviously if you have the time and want top dollar for your home (or top dollar for what the market will allow) you will need to make it presentable. There are many homes currently for sale and the ones that are getting multiple offers are the ones that are priced at or below current market value. I wonderfully staged home priced above market, even slightly above will languish. Most of the homes that are being sold today are bank owned properties that are not well staged, but well priced.

[recordsclerk]

I agree that staging a house does work to a point, but it will not get you more then what the market price will allow. There is always an exception to the rule, but price has and always will be the determining factor in a house selling or not. Obviously if you have the time and want top dollar for your home (or top dollar for what the market will allow) you will need to make it presentable. There are many homes currently for sale and the ones that are getting multiple offers are the ones that are priced at or below current market value. I wonderfully staged home priced above market, even slightly above will languish. Most of the homes that are being sold today are bank owned properties that are not well staged, but well priced.

[recordsclerk]

I agree that staging a house does work to a point, but it will not get you more then what the market price will allow. There is always an exception to the rule, but price has and always will be the determining factor in a house selling or not. Obviously if you have the time and want top dollar for your home (or top dollar for what the market will allow) you will need to make it presentable. There are many homes currently for sale and the ones that are getting multiple offers are the ones that are priced at or below current market value. I wonderfully staged home priced above market, even slightly above will languish. Most of the homes that are being sold today are bank owned properties that are not well staged, but well priced.

[EconProf]

As a free-market economist, I want to believe that people are rational, calculating, and thus staging is a waste of money. Why spend $3000 on outfitting an empty house or condo with phoney furniture, pictures, mirrors, towels and assorted doodads. Buyers are smart enough to see through that act, right?
And yet, it works. I sold 2 new condos 1 year ago in Normal Heights, priced at market. One under contract in 3 weeks; moved the staging next door to the other and it went in 2 weeks.
Frankly, brokers love to bring their clients around to see staged units, and it is often brokers you have to convince to get the sale. A buzz was created, the caravans were heavily attended, and word spread. Worked for me, even though my academic background says it shouldn’t have.

[EconProf]

As a free-market economist, I want to believe that people are rational, calculating, and thus staging is a waste of money. Why spend $3000 on outfitting an empty house or condo with phoney furniture, pictures, mirrors, towels and assorted doodads. Buyers are smart enough to see through that act, right?
And yet, it works. I sold 2 new condos 1 year ago in Normal Heights, priced at market. One under contract in 3 weeks; moved the staging next door to the other and it went in 2 weeks.
Frankly, brokers love to bring their clients around to see staged units, and it is often brokers you have to convince to get the sale. A buzz was created, the caravans were heavily attended, and word spread. Worked for me, even though my academic background says it shouldn’t have.

[EconProf]

As a free-market economist, I want to believe that people are rational, calculating, and thus staging is a waste of money. Why spend $3000 on outfitting an empty house or condo with phoney furniture, pictures, mirrors, towels and assorted doodads. Buyers are smart enough to see through that act, right?
And yet, it works. I sold 2 new condos 1 year ago in Normal Heights, priced at market. One under contract in 3 weeks; moved the staging next door to the other and it went in 2 weeks.
Frankly, brokers love to bring their clients around to see staged units, and it is often brokers you have to convince to get the sale. A buzz was created, the caravans were heavily attended, and word spread. Worked for me, even though my academic background says it shouldn’t have.

[EconProf]

As a free-market economist, I want to believe that people are rational, calculating, and thus staging is a waste of money. Why spend $3000 on outfitting an empty house or condo with phoney furniture, pictures, mirrors, towels and assorted doodads. Buyers are smart enough to see through that act, right?
And yet, it works. I sold 2 new condos 1 year ago in Normal Heights, priced at market. One under contract in 3 weeks; moved the staging next door to the other and it went in 2 weeks.
Frankly, brokers love to bring their clients around to see staged units, and it is often brokers you have to convince to get the sale. A buzz was created, the caravans were heavily attended, and word spread. Worked for me, even though my academic background says it shouldn’t have.

[EconProf]

As a free-market economist, I want to believe that people are rational, calculating, and thus staging is a waste of money. Why spend $3000 on outfitting an empty house or condo with phoney furniture, pictures, mirrors, towels and assorted doodads. Buyers are smart enough to see through that act, right?
And yet, it works. I sold 2 new condos 1 year ago in Normal Heights, priced at market. One under contract in 3 weeks; moved the staging next door to the other and it went in 2 weeks.
Frankly, brokers love to bring their clients around to see staged units, and it is often brokers you have to convince to get the sale. A buzz was created, the caravans were heavily attended, and word spread. Worked for me, even though my academic background says it shouldn’t have.

[recordsclerk]

Sorry if this has gone somewhat of topic.
This thread is about the seller trying to sell his home and it has languished. He said that he has done some substantial upgrades and has de-cluttered his house by having a yard sale. He has gone as far as hiring a housekeeper to come by every 3 days to keep it clean. This sounds like he is staging his house. It is not professionally staged, but staged none the less. It is still on the market without an offer. I believe that TG is right and that it is over priced based on recent comps near this home. I’m not stating that staging a home does not get results, but price is more important. Smaller homes do better when staged because some smaller areas need to be defined. People buy homes that make them feel fuzzy, but people sign on the dotted line when the price is right. Staging gets people’s attention and with the right price gets the deal done. I don’t think that this person can stage his house to get the price he is asking. He can stage it with a better price and get the sale done.

Dharmagirl,

Congrats on selling your house and I’m sure that staging your home helped you sell it. I think that you did great by only spending $500 to get top dollar for your home.
If I remember correctly you just purchased a home in Temecula. Was it well staged or well priced? (just kidding)

Econprof,

I also agree that it sounds crazy to spend money to get results, but that was brillant killing two birds with one stage kit.

[recordsclerk]

Sorry if this has gone somewhat of topic.
This thread is about the seller trying to sell his home and it has languished. He said that he has done some substantial upgrades and has de-cluttered his house by having a yard sale. He has gone as far as hiring a housekeeper to come by every 3 days to keep it clean. This sounds like he is staging his house. It is not professionally staged, but staged none the less. It is still on the market without an offer. I believe that TG is right and that it is over priced based on recent comps near this home. I’m not stating that staging a home does not get results, but price is more important. Smaller homes do better when staged because some smaller areas need to be defined. People buy homes that make them feel fuzzy, but people sign on the dotted line when the price is right. Staging gets people’s attention and with the right price gets the deal done. I don’t think that this person can stage his house to get the price he is asking. He can stage it with a better price and get the sale done.

Dharmagirl,

Congrats on selling your house and I’m sure that staging your home helped you sell it. I think that you did great by only spending $500 to get top dollar for your home.
If I remember correctly you just purchased a home in Temecula. Was it well staged or well priced? (just kidding)

Econprof,

I also agree that it sounds crazy to spend money to get results, but that was brillant killing two birds with one stage kit.

[recordsclerk]

Sorry if this has gone somewhat of topic.
This thread is about the seller trying to sell his home and it has languished. He said that he has done some substantial upgrades and has de-cluttered his house by having a yard sale. He has gone as far as hiring a housekeeper to come by every 3 days to keep it clean. This sounds like he is staging his house. It is not professionally staged, but staged none the less. It is still on the market without an offer. I believe that TG is right and that it is over priced based on recent comps near this home. I’m not stating that staging a home does not get results, but price is more important. Smaller homes do better when staged because some smaller areas need to be defined. People buy homes that make them feel fuzzy, but people sign on the dotted line when the price is right. Staging gets people’s attention and with the right price gets the deal done. I don’t think that this person can stage his house to get the price he is asking. He can stage it with a better price and get the sale done.

Dharmagirl,

Congrats on selling your house and I’m sure that staging your home helped you sell it. I think that you did great by only spending $500 to get top dollar for your home.
If I remember correctly you just purchased a home in Temecula. Was it well staged or well priced? (just kidding)

Econprof,

I also agree that it sounds crazy to spend money to get results, but that was brillant killing two birds with one stage kit.

[recordsclerk]

Sorry if this has gone somewhat of topic.
This thread is about the seller trying to sell his home and it has languished. He said that he has done some substantial upgrades and has de-cluttered his house by having a yard sale. He has gone as far as hiring a housekeeper to come by every 3 days to keep it clean. This sounds like he is staging his house. It is not professionally staged, but staged none the less. It is still on the market without an offer. I believe that TG is right and that it is over priced based on recent comps near this home. I’m not stating that staging a home does not get results, but price is more important. Smaller homes do better when staged because some smaller areas need to be defined. People buy homes that make them feel fuzzy, but people sign on the dotted line when the price is right. Staging gets people’s attention and with the right price gets the deal done. I don’t think that this person can stage his house to get the price he is asking. He can stage it with a better price and get the sale done.

Dharmagirl,

Congrats on selling your house and I’m sure that staging your home helped you sell it. I think that you did great by only spending $500 to get top dollar for your home.
If I remember correctly you just purchased a home in Temecula. Was it well staged or well priced? (just kidding)

Econprof,

I also agree that it sounds crazy to spend money to get results, but that was brillant killing two birds with one stage kit.

[Author]

Posts