Archive for the ‘What’s In’ Category

h1

Looks matter…

May 7, 2011

I am preparing to sell my parent’s villa-style retirement home and I am getting ready to set the “stage” with color, light and stunning furniture & accessories. All this for a home that will sell under $200K. But I know in doing so – I’ll sell it faster than my competitors.

Why do I do this? Because in today’s real estate world – looks matter. They matter more than ever. I have noticed that you can show buyers great values but if the homes are ugly, dirty, smelly or just not exciting, then they won’t sell. Buyers want something pretty and they don’t want to do anything to make it pretty. They are looking for inherited pretty.

I recently had someone submit a contract on one of my listings where they asked for ALL the furniture and accessories in the home to be included in the purchase price. While this may be extreme, it further validates my belief that a visually stunning home will sell faster than a home without decorating. Buyers want it all.

There will always be investors looking for great buys. But investors are now buying dumps and turning them into show homes with staged furniture. It’s more common than ever and a smart move for savvy sellers. Have you noticed that even foreclosed homes are now getting a facelift and banks are reaping the benefit with higher sales prices?

So for anyone who wants to improve their chances of getting a home sold? Call in a decorator and get that home in show shape. It makes a difference.

Advertisements
h1

Generational real estate selling and other minsinformation.

April 28, 2011

We live in a time when people want quick answers and quick resolutions to all their questions. How many times a day do you see articles with “Five ways to Happiness” or “Seven steps to selling your home”? Here’s a fact: there aren’t any quick or fast steps to doing anything. It’s just the use of a catch phrase to get your attention. Imagine how great life would be if we could solve things in three easy steps? It just not that simple.

One of the main things I see is that realtors are being misled to believe that their clients are now internet social butterflies and that so much business is done via the web. This is simply not true. While more than 80% may look on the web for a home; the majority of individuals still rely on word-of-mouth or personal relationships to find a realtor to assist them. For instance, a recent fact published by the American Affluence Research Center reflects that only 12.5% of affluent clients even use social media. That’s not very good odds for those seeking to attract the luxury market via the web, through Facebook or other social networking venues.

The other common mistake I see in today’s real estate world is labeling clients. Of course, you know about “boomers” but now we have the newest which is the Millenial generation. The Millenial Generation was born between 1977 and 1998 and has approximately 75 million members. REALTORS are being led to believe that this age group is the next big wave of buyers. Let me assure you – I don’t see this happening. Why? Because I personally have millenials (with college degrees) living under my roof and they can’t find jobs that pay enough to afford a home. Fact: College degrees don’t guarantee a high-paying job thereby making home ownership affordable. I have friends who also have children who graduated college, who are hard-working and driven BUT who are also waiting tables and working part-time at corporations just to get an opportunity for full-time employment. Where do they live? At home with their parents! In addition, many of my friends have not only their grown children living at home but also their parents. These are the people who are helping to support the Millenials. I wish more people would write about that fact.

Millenials and Gen “X” and “Y” are watching the world economy in turmoil and they are scared for their future. I’m not sure they see the value in home ownership and they may just wait it out for a few years and see how the United States government (and lending instituions) respond to our economic crisis.

What is factual? At the end of the day it is still about relationships. Get out from behind your computer and meet people. Stay in touch with friends and former clients. While I personally have a blog, Facebook page and I tweet like a maniac, I do so for fun. I don’t expect business to boom because I do all my social networking. People will buy homes because they need a place to live. But as for me – know any investors or better yet – let’s do lunch?

h1

What’s In and What’s Out

April 4, 2008

porchpc.jpg

According to a recent article in REALTOR magazine, outdoor living spaces are very “in” with today’s buyer. These spaces feature massive fireplaces, TV’s, cook centers and more in an outdoor arena. You only need to visit the parade of homes or a local street of dreams venue to see that where the indoor movie theater has been replaced by elaborate and extensive outdoor living spaces. The indoors have moved outdoors.

What’s out? One thing is voluminous ceiling heights. It’s about time this one went out as it is totally non-energy efficient and hard to maintain. The wasted space of a 20-foot ceiling in a 12 by 10 room is the heighth (pardon the pun) of absurdity.

What is IN with most buyers? I find that the KITCHEN never goes out of style. The more elaborate the better. Granite is almost expected and any home without it is considered inferior. The stove has really gone upscale and often features a minimum six burners. Gas stoves are back! Most upscale homes have TWO refrigerators and they are hidden with custom cabinetry so you they don’t stand out. This is the new hidden appliance concept. Look for more of this in the future.

What do I think is OUT? This one is easy…MEDITERRANEAN styled homes. They are so dated. Builders keep trying to sell us on this Tuscan themed look but it is stale. Note to builders…let’s go back to Americana…what’s wrong with shingle shake exteriors? Give me a bungalow or Cape-Cod styled home any day and I’ll show you a buyer.

Your thoughts?