January 27, 2012

Auto Detailing vs Home Staging a NO BRAINER for Home Sellers

(Simi Valley Real Estate Home Staging bedroom messSimi Valley) – Consider that when people decide to sell their used car they will have no qualms in spending $200 on an auto detailing job.  If the car they are selling has a $10,000.00 asking price, that is 2% of the asking price. Even digging down deeper, these same sellers will remove any personal affects from the car and make it look like it just rolled off the lot.

These very same people suddenly have a heart attack when you explain the benefits of having their home staged on the listing appointment.  Consider a very basic staging for $650 on a home with a asking price of $650,000.  Let’s see……….that’s one tenth of a percent of the asking price of the home.  What gives?  Recently I saw the tail end of  Get it Sold on HGTV and here is a great example of the little things that can be done for very few dollars.  Sabrina Soto is not coming over to my client’s and potential client’s home anytime soon, but there are stagers in my area that can accomplish the same affordable miracles that are seen on this program.

A home is probably the largest investment a family has. Thinking of that investment compared to the depreciating asset of  a car they have, I am still scratching my head trying to figure out why there is such a disconnect when it comes time to prepare a home for sale……….especially in the market conditions we are experiencing now.

Recently I was working with a home seller who’s home was on the market and no offers had come in.  Traffic was initially good and open houses picked up traffic, but failed to produce any buyers willing to submit an offer.  With a home now being the lowest price in the neighborhood and  still no offers being generated, it was time to bring in a Stager and evaluate the home.  The evaluation with a written detailed report costs approximately $250.00.  Well worth the investment for the following reasons:

  1. The Stagers come in as a buyer and point out the good and bad points of the home from the buyer’s perspective.
  2. The Seller has usually been in the property for many years, some simple issues to fix or items to put away may not be apparent.
  3. The list of items to address can be addressed individually and even if the seller can accomplish the entire list some changes are sure to help the over all attractiveness of the house.

simi valley home seller staging tipsIf the house is priced right and offers are not being generated, then something is distracting the buyers. Stepping back and letting a third party evaluate and give an opinion can be a painful process for the home seller.  Pride of ownership and pride of the things home owners have done to the home can get in the way of objective criticism.  If getting the home sold for the highest price is the objective, then why is it so easy prep and ready when it comes to selling a car vs selling a home?

If you need a referral to a good home stager please call (805) 432-7705

Simi Valley October 2011 Home Sales

Simi valley Real Estate homes for saleOctober Single Family Detached Home Sales for Simi Valley did not react much different that September.  Volume is up over 2010 and 2009.  Homes under $400k are pulling the lion’s share of the activity and as interest rates drop into low 4′s and high 3′s buyers still remain cautious.

I mentioned last month the sluggish upper end of the market.  If you have a home in the $900k to $999,999 price range, did you know that only 4, yes that is right FOUR homes have sold since January 1, 2011 in  this price range for Simi Valley real estate?   Currently there are 6 homes on the market in this price range and the last sale for the price range was in May.  So, if you are listed in this range and wonder what is happening, wonder no more, even with attractive interest rates buyers for this range are not abundant at this time.  At the same time, 10 Simi Valley homes have sold over 1 million with one of those being a custom spec house.

The ditressed market still is a major influencer on the overall market.  RealtyTrac recently reported:

California default notices increased 17 percent from the previous month to a 13-month high, helping the state post the nation’s second highest foreclosure rate: one in every 243 housing units with a foreclosure filing in October. A total of 29,240 default notices were reported in California in October, a 1 percent increase from October 2010 — the first year-over-year increase in defaults in California since November 2009.

Even though other parts of the country are seeing some relief.  However; Nevada, California, Florida and Arizona continue to battle through many struggling home owner’s loans with modification attempts, short sales and foreclosure.

simi valley homes sales october 2011

 

 

 

 

 

 

 

simi valley homes sales october 2011 by volume

 

 

 

 

 

 

 

 

Below is the 30 year interest rate chart for 30 year conforming loans.  2011 has continues to average with the lowest rates.  It is no wonder that investors are out snapping up deals with money this cheap.  The Blue line below should be a wake up call to those sitting on the sidelines.  The distressed market is continuing to to keep prices in check.

30 year interest rates monthly  average

29203 Village 29 Camarillo CA 93012 Leisure Village Home for Sale

29203 Village 29 Camarillo, CA 93012 Leisure Village(Video Tour) 29203 Village 29 Camarillo CA 93012 Leisure Village Home for Sale

Largest Model in Leisure Village with two car garage and fireplace.  Located in Leisure Village’s Village 29, this home has been freshly painted, new flooring including tile in the entry and bathrooms.  Brand new Stove/Oven, Microwave, dishwasher installed.  1 full horsepower Insinkerator garbage disposal.  New toilets and faucets in the bathrooms.  Rare Two car attached garage model with shelving and storage.    Covered Patio with block wall screening.  Double front door entry.  Formal dining room.  Formal Living Room.  Family room off kitchen with Fireplace. Copper plumbing re-piped in June 2003.  This home looks sharp call for a showing today.  Below is a Video tour of the home and and Video tour of the Leisure Village Community.