Media Article - Get your home in shape to sell with these tips

April 20, 2008

Akanke from Open Door Staging was featured in a weekend South Florida Sun-Sentinel Newspaper feature atricle.

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Selling your home in today’s depressed market might be as ambitious as drumming up positive PR for Britney Spears. With thousands of properties for sale, buyers know they have leverage, and they’re using it. They search a multitude of homes in a quest for the best combination of amenities and price.

In Metropolitan Miami, which includes Broward and Palm Beach counties, it takes an average of 146 days to sell a home, the most in the nation, according to Real IQ and Altos Research Co.

So sellers need to fight back, preferably with broom and brush in hand.

Homes that do attract interest are priced right and show well. The grass is cut and the shrubs are manicured, rooms are free of clutter and ratty carpeting has been replaced with a neutral-color berber.

We talked to five South Florida housing experts — appraiser Joel Greenberg, real estate agent Janice Leis and home stagers Akanke Cadden, Heather Johnson and Margo Aguirre — for ideas on renovations that homeowners can make that will help their properties stand out.

Fair warning: most of these are budget-friendly, but some changes do require a little extra cash.

“When the market was hot, buyers were willing to overlook things,” Greenberg said. “Not anymore.”

1. Curb appeal

This is arguably the most important part of preparing your home for sale because it’s the buyer’s first impression. Your home doesn’t necessarily have to be repainted, but it should look fresh, with no cracked paint. Consider pressure-cleaning sidewalks, resealing the driveway and replacing the mailbox. Get rid of any debris, weeds and toys in the yard. Sprinkle mulch around the trees and trim the hedges so that they’re not hiding windows. Plant colorful flowers no more than 6 inches high.

“Red, purple, orange,” Cadden said. “Those colors create excitement in a buyer.”

2. Kitchens and bathrooms

Kitchens are the No. 1 seller of homes, with bathrooms a close second. Consider replacing the kitchen counter tops if they’re old and bland. Everybody loves granite, but laminate, black Formica or four-inch tiles with grout aren’t bad alternatives and cost less. Granite 12-by-12 tiles with thin grout is another possibility, but you may have to do a lot of cutting, depending on the depth of the counter top.

Here’s a good rule of thumb: If the house is listed at $500,000 or above, you probably need to spring for granite. To spruce up the bathrooms, replace the fixtures and the sliding shower door. Hang some fluffy white towels. Above all, the bathrooms must be spotless.

3. Doors

The front door, if possible, should have glass side panels to allow light to shine through. Replacing the hardware with, say, antique bronze is a cost-effective way to make the door look new. Don’t forget to make sure the doorbell works. Doors inside the house should be painted and the hardware should be the same on each one. Fix any annoying squeaks. Older homes have sliding-glass doors, but there’s not much you can do with those except replace them. French doors will add value, but they’re expensive.

4. Flooring

Wood is good, but make sure it’s sanded and restained. Laminate flooring also is fine, but it should be a neutral color. Shampoo the carpet so it’s free of stains and pet smells. You don’t need to buy new carpeting because the home buyer will want to select it. But if the rug is really bad, get berber from one of the home improvement stores and install it yourself.

5. Lighting

Upgrading the lighting is an inexpensive way to improve the look and mood of a house. Replace the fixtures, install dimmers and use soft-wattage light bulbs. Buy a chandelier, but nothing too ornate. Also, keep the outside lights on at night because prospective home buyers often drive through neighborhoods after dark.

6. Living room and closets

A cluttered house quickly turns off buyers, so lose the knick-knacks. Make the house appear open and inviting. Pack up one-third of a closet’s contents and store the junk somewhere off site. A crowded closet tells buyers the house doesn’t have adequate storage.

7. Garage

Garage organization is big business these days and the before/after photos offer dramatic contrasts. Local companies will come in and get rid of the junk, using bins, cabinets, lockers, hooks and hangers to more neatly store what’s left. The cost of organizing your garage can range from a few hundred dollars to more than $15,000. You could do much of the work yourself. For instance, if the garage floor is stained, paint it gray.

8. Patio

Again, less is more. Make sure the junk is gone and that the furniture looks new. Set up the grill. Create a scene that allows potential buyers to see themselves relaxing outside and enjoying the backyard.

9. Ceilings

Adding crown molding and removing popcorn ceilings are nice touches but not necessary. If you do try it, hire a professional. In most cases, however, your money would probably be better spent elsewhere.

10. Pool/spa/sprinkler system

The pool and spa should have enough water. If there are leaks, or if the equipment is broken, get busy. Don’t forget about the sprinkler system. Granted, sellers don’t want to invest hundreds or thousands of dollars in fixing these items, but it will greatly improve their chances with buyers.

Paul Owers can be reached at powers@sun-sentinel.com or 561-243-6529.

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Luxury Niche Not Hit So Bad by Downturn

April 11, 2008

The housing economy may be on the skids in many markets, but don’t shed any tears for wealthy home owners. They aren’t feeling the pain nearly as much as sellers of mid-price homes.

A recent examples illustrate that point:

This week, an agreement of sale was signed on the oceanfront Palm Beach, Fla., estate of billionaire founder and chairman of Jones Apparel Group (JNY), Sidney Kimmel. If the deal closes, the $81.5 million sale – 24 days after the home was put on the market – will be the highest price ever paid in Palm Beach. Not bad for a declining market.

In luxury markets, “Demand is remaining strong, and even if [prices] are going down they’re not going down as much as the overall market,” says Laurie Moore-Moore, founder of the Institute for Luxury Home Marketing.
Source: BusinessWeek.com, Prashant Gopal (04/11/2008)

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The real reasons that most agents do not home stage.

April 8, 2008

In our experience here in south Florida, we find that the home owner is looking to the real estate agent for opinion on what needs to be done to sell their home.

They are asking for your professional real estate opinion. They want to know, and will most often follow your advice - TRY IT.

Yet, this is when the sellers are often let down by their real estate agent. Despite the media attention on the topic, the TV shows, the magazines and mention of home staging in the real estate trade publications, most real estate agents do not introduce staging, they suggest some basic decluttering and cleaning in an unconvincing manner;

They fear losing the listing if they “tell them like it is”. They talk the talk, but are unable to walk the walk.
Contrary to all all industry reports, they firmly believe that “It’s all about the price”, and have gotten stuck in the price reduction game rut
Do not really plan on marketing the listing, just stick it in the MLS and hope someone finds it.
It costs too much. Hmmmm, I have heard this one time and again, a consultation is inexpensive, the same as an appraisal or inpspection in most cases. Get the consutlation, perhaps the seller can do most of the pre-staging tasks themselves? Elbow grease is free (ish).

Where have they been hiding? How can they not know about the marketing value of home staging?

It’s almost like they just don’t want to hear it.

We agree that not every listing is a suitable candidate for staging;

- There is simply no budget, it’s a foreclosure/short sale
- The house is way overpriced
- The return on investment makes staging a bad investment. Consult a home staging professional for an opinon on this - it can be a short no cost phone call.

Real estate agents, mention home staging witth the same conviction that you suggest an appraisal or a pre-listing inspection, both of which are in line with the costs of a home staging consultation.

Get the marketing edge, stage to sell. Staged listings sell faster. You owe it to yourself.

There is no comission for an expired listing? Happy sellers refer their friends.

If I missed any other reasons for not staging, let me know below.

Let us know if you have others that you think we should add to this post.