My Blog

The start of our local Summer market coincides with the end of the school year. During this time, new listing inventory usually decreases and the market slows down considerably.  Potential buyers and sellers go away on vacation, have visiting relatives and children at home to entertain or just want to enjoy the summer months.  It can be a good time to buy!

There has been exceptional market activity on upper tier homes (those priced at $1,000,000 and above) with many properties selling with multiple offers.  Usually, there is a "trickle up" effect when the mid-range market is  active as those sellers move up to a larger home.  But, currently the mid-range sales activity is experiencing sluggish activity.  So, this is the first time in recent memory, or maybe ever, that the strong market activity in the upper tier in our area has not been the result of this trickle up.  

According to my in-house lender, Brian Moggan of Princeton Capital, interest rates are currently very volatile with rate fluctuations of up to one-half point in one day!  Rate fluctuations such as this effect sales in the mid and lower range properties but usually have no effect on sales of upper tier homes.  The market in the lower range is stalling somewhat due to problems in the sub-prime lending market.  In my area, we have a "tale of two markets" - the hot luxury market and the slower mid-to-lower range market.  Even  though area home sales are dropping, the median price paid for a home has increased, possibly as a result of the hot luxury market.

Our Fall market starts about the first week after the Labor Day holiday and ends right around Thanksgiving.  Many sellers who were not ready for the Spring market prefer to wait until the Fall market to put their homes up for sale.  Potential buyers are back from vacation and get back into the home buying mode, making the Fall market a very active one.  It is usually a good time to be a seller or a buyer. 

Home Stagers – What Do They Cost, What Do They Do?

The first thing the stagers with whom I work do is to visit the property for a walk-through to determine the staging needs and the budget for the job. The stager will walk through the house room-by-room and take notes on how to show off the house to its best advantage through staging. The stager also checks the landscaping, the entry, patios and decks for outdoor staging purposes. Later, the stager will present a written proposal to a home seller outlining the work, the cost of the job and the start and end dates.

In my area, a small two-bedroom house can be professionally staged for $3,000.00 to $3,500.00. To stage a really large house can cost up to $15,000.00. The price can vary depending upon whether or not the house is vacant and needs everything and whether or not it simply needs supplemental pieces brought in by the stager along with some artful placement. Most stagers require a small down payment with the rest paid upon completion. Prices will vary in different areas and stagers may also work differently.

The staging proposal may include some, or all, of the following:

Interior and exterior paint. Some stagers are color experts and can completely transform a home by using the right colors. Some stagers have their own painting crew and can take care of all of the painting, for an additional fee, of course.

Furniture groupings. Stagers will try to use the seller’s existing furniture as much as possible, sometimes moving pieces to a more advantageous spot. From their inventory they will supplement the owner’s pieces.

Artwork and rugs. Stagers will use or rearrange any artwork on hand or they may remove it entirely and bring in their own. They also bring in area rugs or suggest new carpet if the existing is old and stained. Sometimes there is hardwood flooring under the carpet. This can be removed and hauled away. The floors can be refinished, or polished and buffed if they are in good condition.

Floral arrangements. Most stagers have as part of their staff a person who does the floral arrangements inside the house, door wreaths and the potted plants on the outside. The arrangements can be elaborate or simple, as needed.

Other tasks that might be recommended on a staging proposal are replacing the light fixtures where needed, re-grouting tile counter tops, resurfacing stained bathtubs, removing old draperies, having windows washed inside and out, and having new linoleum installed in kitchen or baths.

Most stagers will also do a “consultation” walk-through with the owner. In my area, they charge at least $90.00 per hour for the service; but the owner can then do all of the staging items recommended themselves, if that is their choice.

Staged homes usually sell for a higher price in a shorter period of time.