|
 Vacant Apartments Don't Sell
Imagine if you walked into the empty spaces below left, instead of the furnished rooms below right. What emotions would you experience?
Vacant apartments appear cold and sterile, and the buyer cannot emotionally connect with a lifestyle that they are aspiring to when they are looking for a home to buy.
The DeNiro Group of Prudential Douglas Elliman was smart enough to realize this when they called in Designed to Appeal to stage the key rooms in this 3 bedroom, 3 1/2 bath, 2,441 square foot duplex with fabulous views of the East River and beyond from the 35th floor, currently listed at $4 million.
Before After
|
Testimonial of the Month
"Donna Dazzo does an amazing job of bringing life to the homes she stages. She truly helps buyers envision what it would be like to live in these properties and is a tremendous asset for any home owner looking to sell."
Managing Director
Prudential Douglas Elliman
|
|
Market Overview:
New York, NY (Manhattan)
"After a very strong April, marketwide sales activity
(the number of sales) decreased 11% in May"
Co-ops:
The median sales price of $767,000 was an impressive 35% higher than a year ago and 9% higher than last month.
Average price per square foot was $1,313, a 22% increase from a year earlier and 4% higher than last month.
Days on the market were surprisingly unchanged from a year ago but are 8% less than last month.
Discount from last ask to sale was 8.7% compared to 13% a year ago, but unchanged from the month before.
The number of contracts signed is up a healthy 32% from a year ago but down 5% from last month. Listed inventory is down 26% from a year ago but up a slight 1%from the month before.
Condos:
The median sales price of $1,298,750 was 26% higher than a year ago and 4% higher than the month before.
Average price per square foot was $1,259, a 17% increase from a year earlier and 9% higher than last month.
Days on the market decreased 49% from a year ago but is 9% higher than the last month.
Discount from last ask to sale was 10.4% compared to 17% a year ago and 6% the month before.
The number of contracts signed is up 156 from a year ago but down 15% from last month.
Listed inventory is down a whopping 28% from a year ago and up a slight 1% from the month before.
|
|
Is that a ping pong table underneath all that stuff?
Tips and Tricks of the Trade
In 1973 a film entitled "Don't Look in the Basement" was released. It was originally entitled "The Forgotten" in reference to the ignored patients of an insane asylum, but someone thought it would attract more movie goers with a new title. After all, basements can be creepy.
Dark, dank and dirty is what usually comes to mind, never mind those hidden corners where something just might pop out!
Well, perhaps "The Forgotten" was an appropriate name after all, since basements are one of those areas in a home that is often overlooked when staging a home for sale.
Basements, whether finished or unfinished, add valuable square footage to the house.
Basements should receive as much attention as the rest of the house when it comes to the Must Do's of staging:
|
|
Did You Know...
- The Summer Solstice is the longest day and shortest night of the year?
- The word Sol-stice is derived from Latin meaning "sun stands still"?
- It occurs when the Earth's axis tilts most towards the sun causing the sun's position to reach its northernmost (in the Northern Hemisphere) and southernmost (in the Southern Hemisphere) extreme?
- At this point it seems to "stand still" until it reverses its direction?
- It occurred in the Northern Hemisphere at 7:28 a.m. EDT on June 21?
- It is also colloquially known as "midsummer"?
- Civilizations have for centuries celebrated this day?
- The present day belief of June being the lucky wedding month is derived from the Druids' celebration of this day as the "wedding of heaven and earth"?
- Pagans called the first (or only) full moon in June the Honey Moon. Tradition holds that this is the best time to harvest honey from the hives.
|
|
Market Overview: The East End
East Hampton Town continues its strong showing, particularly in the number and dollar volume of sales, in the first 5 months of this year compared to all of 2009, according to Suffolk Research Service's May 2010 report.
Note: 2010 year-to-date numbers have been annualized and are compared to all of 2009.
East Hampton Town
- The median price is up 10% over 2009 to $999,000
- The number of sales were up 80% over 2009
- The dollar volume of sales more than doubled (up 104%) from 2009
Southampton Town
- The median price is up 15% over 2009 to $907,000
- The number of sales were up 29% from 2009
- The dollar volume of sales were also up 33% from 2009
Southold Town
- The median price was virtually unchanged from 2009 to $465,000
- The number of sales were up 8% from 2009
- The dollar volume of sales were up 2.5% from 2009
|
