Staging For The 2012 Real Estate Market
Home Staging Doesn't Need to Be Expensive
Home staging doesn't need to be a budget buster. If you look for the little things that pack a big punch … like light fixtures and throw rugs … you may be able to stage your home for sale with very little expenditure.
Here's an article we found by Montana Ruark in EzineArticles. He's got some great tips.
Staging for the 2012 Real Estate Market
by Montana Ruark
Presenting any home in a slow yet competitive market becomes a challenge for sellers and Realtors. Each property that is entered into the multiple listing service creates a decreasing chance for the already existing properties to be sold. Being able to remain at the top of the buyer's interest in your area depends on a couple of important factors; a strong selling team should include a seller that understands the marketing plan, and a Realtor that has the ability to make the best decisions for each individual approach. With the presentation being the key to having a successful marketing approach, staging the right way the first time will determine the speed of your success.
Buyers need a home that is move-in ready. The least amount of improvements with the highest quality of amenities is a guaranteed selling combination for a new buyer. So begin your staging with packing and improvements. This isn't a difficult task; pack everything that isn't needed to make it through the next few months. Packing allows buyers to see the amount of space in closets and other rooms as well. For improvements you will need some simple tools and new hardware, and your house will begin to look in great condition for you open house and photo shoot. Look for light switch plates, vents, and door knobs. Changings the little stuff early on can keep you from getting complacent towards the end of the improvement process.
Before you replace anything, paint every room with the right staging colors. Next turn your attention to light fixtures, and bulbs. Replacing every light fixture for an energy efficient fixture is a great incentive to use for marketing. Replacing all of the bulbs will give each room the same lighting consistency throughout your home. Replace any out dated fixtures in your home. Even if they are in the best condition most buyers want a newer look and feel in their home.
So far your home should have a fresh paint job, the basic amount of furniture remaining in the room and a bright new set of lamps to show off every space. Next is moving everything that is packed away to another location. Get it out of your home and research some different storage options.
Complete each room with a focal point and matching accessories. Draw in buyers with a fresh look or a life style. Do not think that you cannot use color in your space as long as the wall colors are neutral, you can then apply different looks to each room and have an outstanding showing that every buyer will remember. Finishing these tasks correctly will provide your home with the best results.
Article Source: EzineArticles.com
Home Staging Is A Powerful Tactic … But It Needn't Be Expensive
The point of staging your home is to get it sold. It's not to rebuild it. Do what will make the home look nice and attract a buyer. Don't go overboard updating everything.
Southern California Home Sales:
Prices And Sales Are Both Up
Southern California Home Sales Mirror
The National Trends … UP!
Not to be left out in the cold, California Home Sales in august registered numbers that reflect the averages nationwide … and those numbers are up in both prices and sales. Last month we picked up quite a few indicators that told us to watch for an uptick in Southern California home sales. Well, those indicators weren't wrong.
Southern California home sales show that in August, the median home price rose 3.2 percent, while sales were up 8.4 percent from the month before.
Read all the details in this article by Kevin Smith in the Pasadena Star-News:
"Year-over-year results were even better, with an annual price gain of 10.2 percent and a sales increase of 14.4 percent. California home sales declined in August but continued to maintain a strong pace, recording five consecutive months of year-over-year sales gains, while the median price reached a four-year high, CAR reported." … Pasadena Star-News
Distressed Properties Still Make Up Large Portion Of Southern California Home Sales
Distressed properties are still a huge influence in Southern California home sales. Short Sales and Bank-owned properties make up a large proportion of the market, even though there are fewer REO properties on the market than there were a year ago. However, aggressive Investors and amenable Lenders show that even though prices may be rising, Southern California home sales are an attractive investment opportunity right now.
Southern California Home Sales.
Real Estate Values:
Fewer US Homes Underwater
As Prices Rise
As Real Estate Values Rise Nationwide,
Homeowners Gain Equity
There is no doubt that real estate values are rising nationwide. The rise can be attributed to high demand, smaller inventory, fewer REO properties with rock bottom pricing … any number of influences. Whatever the cause, the rise in real estate values is having a good effect on many who have been "underwater" … and are now rising above the foam.
Nationwide, real estate values rose enough in the second quarter to lift about 600,000 homeowners out of the negative equity swamp and into positive equity. This allows many to refinance, when that was impossible before.
Here is an informative article by Marilyn Kalfus in the Orange County Register:
Marilyn Kalfus – "About 600,000 underwater borrowers hit positive equity in the second quarter, according to the report. That followed more than 700,000 in the first three months of the 2012..Some 22.3 percent of homeowners with a mortgage had negative equity at the end of June, down from 23.7 percent three months earlier." … Orange County Register
Rising Real Estate Values Reduce Average Negative Equity Amounts
One of the things that's interesting to look at here is how the rise in real estate values is effecting the average amount of negative equity an "upsidedown" owner holds. Of the 6.6 million owners who have negative equity and have only one loan on their property, the average negative equity amount is now down to $51K, which is a significant improvement over last year.
Real Estate Values
Real Estate Sales:
New Home Sales On The Rise
As Real Estate Sales Rebound In General, New Home Sales Are Also On The Upswing
A new report on real estate sales from the consulting firm of John Burns Real Estaqte Consulting shows that new home sales are also on the rise. The Irvine firm reports a 25% increase over this time last year and that new home sales now make up about 8% of the areas real estate sales.
Read about it here, in this report from Alejandro Lazo of the Los Angeles Times:
Alejandro Lazo – "The economists at the Irvine firm (John Burns Real Estate Consulting) highlight 25% growth in year-over-year new home sales, and an increase of 36% from the bottom, which was reached in 2011. The firm's data show that new home sales currently account for about 8% of the market, up from a low of 5% during the bust and down from about 16% during the heady days of the bubble." …Los Angeles Times
Real Estate Sales: New Home Sales Constrained By Some Factors
The report also states that new home sales could be somewhat constrained right now because of several factors. Among those are the lack of distressed sales (foreclosures and short sales) in the area market right now as banks are fairly reluctant to foreclose, and the lack of many good, inexpensive development properties on the market. These are factors that will adjust as the market shakes itself out.
Real Estate Sales.
Real Estate News:
Real Estate of Obama and Romney
Real Estate News: Nothing "Significant" Here … Just Some Fun Information Concerning The Real Estate Holdings Of Obama and Romney
OK … it's election season and everyone is obsessed. We're not that obsessed around here … but we did find this interesting little bit of information concerning the real estate holdings of the President and the presumptive candidate. There's nothing significant here and we're not saying this information "means" anything. We just thought it was interesting to know what the real estate holding of the two candidates are.
So … here they are. Read about it in this report in Fox News from Erika Riggs of Zillow:
ERIKA RIGGS (Zillow) – "… before they (Obama and Romney) considered the White House their possible residence, the two lived in a variety of places across the U.S. Here’s a roundup of the homes each candidate currently owns." … FOX NEWS
Read more: http://www.foxnews.com/leisure/2012/09/05/real-estate-obama-and-romney/#ixzz25nwLeQv8 …"
Real Estate News: Real Estate Holdings of Obama and Romney
See? We told you there were no "earth shattering" revelations. But we do find it interesting information from a real estate standpoint. That's all for now … nothing more to see here … move along … move along …
Real Estate News
Los Angeles Commercial Real Estate:
$63 Million Shopping And Multi-Unit Combo Breaks Ground
Los Angeles Commercial Real Estate Development Is Benefitting From The Opening of
The Gold Line Rail Stations
More good news for Los Angeles commercial real estate development as NMS Properties has begun construction on a 6-story development that will house 131 residential units over stores and shops near the recently opened Gold Line. Hundreds of millions of dollars of development are in the pipeline along the Gold Line corridor.
Read about it in this article in the L.A. Times from Roger Vincent:
Roger Vincent – "Hundreds of millions of dollars worth of real estate development linked to Los Angeles County Metropolitan Transportation Authority's Expo Line are in the pipeline in Culver City. NMS and other developers are also targeting future station sites …" Los Angeles Times"
Washington Blvd Corridor Is Los Angeles Commercial Real Estate Hot Spot
Developers of Los Angeles Commercial Real Estate are bullish on the Washing Blvd. corridor in the Culver City area. The area has been developing its own "nightlife personality" very quickly, and the recent opening of the Metro Gold Line stations along the corridor provides easy transportation to and from downtown and areas further to the west.
Los Angeles Commercial Real Estate.
Commercial Real Estate:
Commercial Mortgage Delinquencies At Lowest Level Since 2009
Commercial Real Estate Market Gets More Good News As Reports Show Commercial Delinquencies Fall
Chandan Economics just released figures that show that delinquencies on commercial real estate mortgages have fallen to their lowest points since 2009. Those findings correspond closely to figures just released by the Mortgage Bankers Association, which show the same good news for the commercial real estate market.
Read about it in this article by Carl Gaines of the New York Observer:
Carl Gaines – "Chandan Economics and the Mortgage Bankers Association released data last week that points to continued improvements in the commercial real estate market … This data showed that the default rate on commercial mortgages held by banks had fallen to its lowest level since the middle of 2009—to 3.11 percent. This marked a 34 basis point drop when compared to the previous quarter." … Commercial Observer
Multi-Housing Units share In Commercial Real Estate Good News
Both reports show the same decline for the multi-unit housing sector of the commercial real estate market. All of this is very good news as far as commercial real estate is concerned. It's also a good indication that the economy is improving in general. We can only hope the trend continues into the future.
Commercial Real Estate.
California Home Sales:
In Southern California Everything Is Up Over July Of Last Year
California Home Sales and Prices … In Los Angeles, Orange, Riverside, San Bernardino, Ventura, & San Diego Counties … All Post Good July Numbers
We've been reporting on the rise of California home sales numbers and prices in these pages recently. Here's a simple chart that shows the bottom line.
Follow the link to see the chart in the Los Angeles Times:
Los Angeles Times – "July Southern California home sales and prices. ( Sources: DataQuick & DQNews.com) …"
California Home Sales Show Strong Numbers
Home sales and prices in all of the Southern California counties are posting strong numbers this summer. The reasons for the rises in activity and prices are many and the California home sales market is by no means a simple one … and reading it is not easy. However, these kinds of numbers are good news any way you look at it. If they continue … that portends good news for the future. It would be nice if we could look at a steadily building and improving California home sales market again.
California Home Sales.