Home Staging - the tool that helps Buyers imagine themselves living in a house that has been presented for them - is not just a marketing tool for traditional sellers. Home Staging is also a key tool for marketing Investor properties.
A professional Home Stager can offer valuable assistance to an investor that is picking up properties sight unseen at auction. The Stager can help with everything from remodeling the property - coordinating local service providers, handymen, contractors, as well as help select options for improving the property for Buyers. Instead of selling a "blob of oatmeal" - real estate jargon for a house that has beige wall, beige carpeting, and bland appliances - a Home Stager will know what colors and materials to use based on the market and type of house, helping the Investor place their funds in the most important areas and priority items for the house.
Home Staging once the house has been repaired or remodeled will help it show better to Buyers on the internet, in photos, and in person. This is important as the Investor property is now competing with normal resale homes as well as the foreclosures that are still on the market. Investors that are able to place a small investment in the Staging of their property up front, will recoup that money in the sales price and time on market.
On average, Staging of a vacant house can be as little as $750.00 to about $2,000 depending on the size, style and price of the property. Some Staging companies can offer Investor Staging packages for their clients - addressing key areas of the house with furniture and decor that will help highlight key rooms. Even with with ongoing rental of about 50% of the upfront Staging investment, the overall fee for Staging the house is less than a price reduction. When an average price reduction is 5-10% of the list price of the house, the Staging will then help the Seller - the Investor - keep that much more in their pockets.
Some Home Stagers can help with additional marketing of the property once it is Staged - and offer to place it on various websites and share the property informaion with their sphere of influence, helping give key exposure to the property.
Investors that are savvy enough to purchase properties and take advantage of a sluggish real estate market need to keep in mind that Home Staging is a savvy marketing tool for that property when it is reintroduced to the market. When the Investor changes hats and becomes the Seller, it is important to put the best face forward for the house they are now selling - and make it appeal to all Buyers, and Home Staging is the key to open that door to Selling Success.
For information on Investor Home Staging, please call We Stage Sacramento at 888-WE-STAGE, www.WeStageSacramento.com. We Stage Sacramento has Staged over 2,500 houses for sale since 2002, and is the largest and most versatile home staging company in the greater Sacramento area. Contact Jennie Norris, ASP Master, IAHSP, for more information.
Showing posts with label investors. Show all posts
Showing posts with label investors. Show all posts
Monday, July 28, 2008
Sunday, July 20, 2008
Foreclosure Home Staging
The foreclosures that are flooding many regions of our country are of great concern to many in the real estate and financial industries, and of course, to homeowners that live in these areas. As more of these vacant homes are put on the market for sale, the only consideration seems to be Price as a strategy for getting these properties sold.
The fact is, a Foreclosure property needs to be treated lke any other house for sale. The difference, of course, is that instead of an individual homeowner selling the house, the bank or financial institution is selling the house. However, Buyers are the same. Even when Investors are purchasing the house, it should be presented in a way that helps it stand out from the other houses on the market.
Enter Home Staging. Home Staging is the only tool that has been proven to help a house sell in a shorter period of time which helps the seller (bank or individual) retain more of the house's value. Just because the bank is losing money on a foreclosure property, they can still invest in a reasonable amount of Home Staging to present the property for prospective buyers.
When the carrying costs on a foreclosure property are in the tens of thousands of dollars, Staging is a minimal investment that will help get the house sold. Price is not the only strategy that helps sell a house. Buyers respond to a Staged home because it feels better than the other empty houses and is easier to imagine living in - and the buyer is then more likely to purchase the one that shows well in photos and in person that the one that has not had any preparation or marketing done to attract a buyer.
When a foreclosure property does not sell, it eventually ends up in auction - where the bank loses an incredible amount of money and potential profit versus selling it with a traditional real estate process.
I would love to see bank managers, asset managers, other real estate owned managers of these financial institutions take an honest look at how their properties are NOT being marketed for buyers and make a small investment up front to Stage the house - and price it for the market - but not just blow out the price as their only sales strategy. The other homeowners that live with the foreclosures in their neighborhoods that are driving house values down, down, down would support and effort by the banks and lending institutions to help the houses sell sooner than later.
This is especially true because the demise of the market is tied to the selling of loans to unqualified homeowners - and this whole mess was created by the banks that are now stuck trying to offload properties. In my opinion, the lenders created this, and the least they can do is do MORE to help these properties sell and help protect the value of the houses and homeowners that are hanging on to their properties.
The fact is, a Foreclosure property needs to be treated lke any other house for sale. The difference, of course, is that instead of an individual homeowner selling the house, the bank or financial institution is selling the house. However, Buyers are the same. Even when Investors are purchasing the house, it should be presented in a way that helps it stand out from the other houses on the market.
Enter Home Staging. Home Staging is the only tool that has been proven to help a house sell in a shorter period of time which helps the seller (bank or individual) retain more of the house's value. Just because the bank is losing money on a foreclosure property, they can still invest in a reasonable amount of Home Staging to present the property for prospective buyers.
When the carrying costs on a foreclosure property are in the tens of thousands of dollars, Staging is a minimal investment that will help get the house sold. Price is not the only strategy that helps sell a house. Buyers respond to a Staged home because it feels better than the other empty houses and is easier to imagine living in - and the buyer is then more likely to purchase the one that shows well in photos and in person that the one that has not had any preparation or marketing done to attract a buyer.
When a foreclosure property does not sell, it eventually ends up in auction - where the bank loses an incredible amount of money and potential profit versus selling it with a traditional real estate process.
I would love to see bank managers, asset managers, other real estate owned managers of these financial institutions take an honest look at how their properties are NOT being marketed for buyers and make a small investment up front to Stage the house - and price it for the market - but not just blow out the price as their only sales strategy. The other homeowners that live with the foreclosures in their neighborhoods that are driving house values down, down, down would support and effort by the banks and lending institutions to help the houses sell sooner than later.
This is especially true because the demise of the market is tied to the selling of loans to unqualified homeowners - and this whole mess was created by the banks that are now stuck trying to offload properties. In my opinion, the lenders created this, and the least they can do is do MORE to help these properties sell and help protect the value of the houses and homeowners that are hanging on to their properties.
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