 Vacant Houses and Apartments Don't Sell
It's a fact - vacant houses and apartments sit on the market longer than occupied homes.
Why Should a Vacant Property Be Professionally Staged?
- Only 10% of buyers can see beyond emptiness and envision their possessions in a home or apartment
- Empty rooms appear smaller than they really are
- Buyers can't use their imagination to see the home's potential
- Buyers are overwhelmed by a lack of vision
- Buyers can't imagine where their furniture will go
- Without a frame of reference, it's incredibly difficult to tell the scale and size of the room
- Without furniture, a buyer may be confused as to the purpose of the room: "Is this a study or an extra bedroom?".
- Buyers can't imagine living there
- Buyers think the owner is desperate to sell because "they must be carrying two mortgages, utilities, maintenance, etc."
- Vacant homes appear soulless and no emotional attachment can be felt
- Vacant homes can appear to be neglected
- Paint colors and wallpaper stand out if too drastic, and buyers look at it as work to do
- Dirt and small defects stand out more: holes or cracks in walls, stains in carpet, grout in bathroom, scuff marks on walls and doors
- The emptiness will make the home appear as if there are too many windows, too many doors and too many expansive walls
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| First Quarter 2009 Market Overview: Manhattan
The numbers confirm the big changes in Manhattan since first quarter '08:
- The median sale price of re-sale units (excludes new developments) was down 31%
- The number of sales was down 48%
- The number of units on the market has increased 34%
- The discount from the listing price jumped to 12.4% from just 3.2%
Source: Prudential Douglas Elliman |
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....Vacant Homes
That Were Staged
Spent 85% Less Time on the Market?
According to Real Estate Staging Association, a 2008 survey revealed that:
- Unstaged vacant homes that were on the market an average of 190 days....
- ....sold after an average of only 28 days of being staged.
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| First Quarter 2009 Market Overview: the Hamptons
Price indicators fell as listing inventory expanded since first quarter '08:
- The median sale price declined 23%
- The number of sales decreased 50%
- The listing inventory increased 24%
- The discount from listing price jumped to 12.1% from 9.7%
- Interestingly, days on the market remained about the same.
Source: Prudential Douglas Elliman |
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of the Trade
When using decorative objects...
- DO group them:
- in odd numbers, such as 3s or 5s
- in varying heights
- in like types and colors
- DON'T:
- place objects in a straight line
- place objects in the corners of a table
- place objects so that they block the view of a seated guest
- crowd the surface with too many objects
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