Top Ten Mistakes Sellers Make About Presenting Their Home for Sale - Part I
 1. Paint Issues - too often prospective buyers can't get past the ugly shade of green that the house is painted or the purple in the bedroom. For both the exterior and interior it is best to stick to neutral colors (see my recommended colors under Tips and Tricks of the Trade below) , EXCEPT 1) you can use a bright contrasting color like red for a front door, and 2) DON'T use white on the interior walls as it's stark and cold (it's fine for trim and ceilings). Paint issues involve both color and the condition of the paint. Paint is one of the most inexpensive ways to freshen up any space. Walls and floors are the "bones" of any interior space and both should be in good condition.
2. Dirty or worn carpet and/or floors - .as just stated, walls and floors are the "bones" and should be in good condition. If carpets are old, outdated and badly stained, it's best to remove them. Sometimes a beautiful hardwood floor awaits underneath. If not, replace with inexpensive wall to wall carpeting. Hardwood floors in bad condition should be refinished. You don't want to give your buyer a mental checklist of repairs they need to do so that they either walk away or bid lower.
 3. Pets and their "accoutrement" - you may love your pets, but not every buyer will. Leaving your pets in the house while it's being shown is a BIG mistake. Removing them but leaving behind pet bowls, kitty litter boxes, leashes and dog cages is also a BIG mistake. Remove all traces of your pets including their hair and odor.
 4. Personalized Decor - displaying family photos, children's artwork, trophies, awards, collections and your prized deer head on the wall does NOT allow the buyer to imagine living in your space. Plus these items are also a distraction. You want the buyers to look at your house, not your children's baby photos.
5. Dated or worn hardware and fixtures - if floors and walls are the bones of the house, then hardware and fixtures are the "jewelry". Outdated or tarnished door handles on kitchen and bathroom cabinets, and outdated lighting fixtures and faucets are a turn-off to prospective buyers. Replacing these can update the look of a bathroom or kitchen very inexpensively. And don't forget to replace scratched doorknobs on doors and broken or non-matching lightswitch plates.
Stay tuned next month for the remaining five mistakes home sellers make when presenting their homes.
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Market Overview:
New York, NY
- The median sales price was down 22% to $975,000, year over year.
- The average listing price is $1,975,806 down 2.7% from July 31, 2008.
- The average sales price per square foot was $1,164, a decrease of 40% from the same quarter last year.
- The number of sales was down 35% from the same quarter last year
- There are 11,197 homes for sale.
While all of the numbers are markedly down from last year, there has been an uptick in the number of contracts signed since the beginning of the year. As reported by The New York Times (8/30/09), "brokers are reporting that the number of signed contracts rose in June, July and the first weeks of August". But this uptick did not necessarily translate into an uptick in sales prices. |
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Tips and Tricks of the Trade
Here are five recommended neutral colors for painting walls (all are Benjamin Moore):
- Natural Wicker (OC-1)
- Elephant Tusk (OC-8)
- Tapestry Beige (OC-32)
- Oat Straw (AF-340)
- Angelica (AF-665)
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...according to the National Association of Realtors
- 61% of home buyers are married couples
- 21% are single women
- 9% are single men
- 7% are unmarried couples
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Market Overview: The East End
All 3 major towns on the East End suffered similar percentage declines in the number and dollar value of residential sales for the quarter ended 7/30/09 compared to the same period last year, however East Hampton town suffered a greater percentage reduction in the median sales price than the other two towns.
Note: the number and dollar value of sales for 2009 were calculated on an annualized basis as compared to all of 2008.
According to Suffolk Research Service, in... - The median sales price was $850,000 down 14.4%
- The number of sales was down approximately 37%
- The dollar value of sales was down 44%
- The median sales price was $750,000 down 6.2%
- The number of sales was down approximately 33%
- The dollar value of sales was down 42%
- The median sales price was $475,000 down 5%
- The number of sales was down approximately 40%
- The dollar value of sales was down 40% |
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I was recently contacted by Mary Moran of Prudential Douglas Elliman about a new listing she had of a vacant small studio in the Chelsea section of Manhattan. She was smart enough to realize that the space looked even smaller without furniture in it and it would be difficult for a potential buyer to picture how everything would fit and where.
Check out my transformation of this vacant small studio apartment into a living space that fits it all in. Click here for before and after photos.
And here is what Mary had to say about the transformation:
"Donna took a completely empty 300 square feet and turned a blank slate into a comfortable home. This prewar studio apartment took on a completely new feeling with the softness of a day bed and simple rug and small eating area. Amazingly she turned the space into a home that became very versatile. The bathroom felt like a refreshing spa and the kitchen felt very upscale and workable. I would surely use Donna again for her good eye and sense of space."
Mary Moran, Prudential Douglas Elliman
Click here for more information and to schedule a
Vacant Staging Estimate |
