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Testimonial of the Month
According to the homeowner, the real estate agent was "blown away" by our staging and raised the planned asking price by 3%, OR $17,000.
"Showed the apartment twice today and your work made a big difference! I will definitely pass your name around at (Prudential Douglas) Elliman."
Prudential Douglas Elliman
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Price Raised $17,000 or 3% After Staging!
We received a call from the out-of-town homeowner telling us her tenant was moving out and that she was putting her one bedroom apartment on the Upper West Side in a great location near Riverside Park up for sale.
After viewing the apartment we recommended that the homeowner do the following updates prior to the staging so that buyers can move right in:
- Paint the walls in the entire apartment a warm neutral color. The color that we chose also served to highlight the classic Pre-War moldings in the apartment.
- Give us a small budget to replace the bland and outdated ceiling light fixtures in the foyer and bedroom.
- Remove the mirrors from the walls of the bathroom which really dated it.
Her total investment in staging and updates was a little under 2% of the asking price and well worth the investment, given the fact that her real estate agent raised the planned asking price by 3%!
Even this seasoned real estate agent could not see past the tenant's belongings, clutter and decor - so how could a typical buyer?
Here are the dramatic photos before the tenant moved out and after we staged:
Living Room Before
Living Room After
Living Room/Dining Area Before
Living Room/Dining Area After
Bedroom Before
Bedroom After
Kitchen Before
Kitchen After
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Market Overview: New York, NY
"The number of contracts signed increased compared to last August for both condominiums and co-ops. Whereas sales typically slow down in August, co-op sales increased from both last year and last month by 13% and 4%, respectively. Both market-wide listed inventory and the number of new listings ...declined from last month and last year." The following is a comparison of August 2011 vs. August 2010: Market Wide: - Listings on the market decreased 6% to 8,155
- New listings represent 17% of the total number of listings
Condos: - The median sale price increased 1% to $1,182,500
- The average price per square foot increased 10% to $1,297
- Days on the market increased 23% to 228
- Discount from last asking price to sale price increased 8% to 7.6%
- Listed inventory decreased 14% to 3,608 units
- Number of contracts signed increased 9% to 306
Co-ops: - The median sale price decreased 6% to $794,405
- The average price per square foot was unchanged at $837
- Days on the market increased 18% to 156
- Discount from last asking price to sale price decreased 58% to 2.8%
- Listed inventory increased 3% to 4,000 units
- Number of contracts signed increased 13% to 433
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Tips and Tricks of the Trade
- What's the perfect size table for conversation?
- How big should an overhead light fixture be?
- How high should a kitchen island be?
For answers to these and other decorating questions, download your free guide from House Beautiful. |
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Did you know....
- ...Columbus Day is celebrated on the 2nd Monday in October because Christopher Columbus actually landed in the "New World" on October 12, 1492?
- ...he discovered the New World by accident, as the monarchs of Spain had sent him on a voyage to look for a route to eastern Asia by water?
- ...Columbus made 4 trips to the New World?
- ...he named the island where he first landed San Salvador, now a part of the Bahamas?
- ...Columbus was arrested on his 3rd trip and sent back in chains to Spain for embezzlement of funds destined for the crown, for enslaving the local population and because the colonists complained of his policies?
- ...he had 3 ships on his first voyage and 17 ships on his second?
- ...many historians believe his birthplace was Genoa, Italy?
- ...the first Spanish colony was the island of Hispaniola which Columbus founded?
- ...the Santa Maria ran aground and had to be abandoned?
- ...Columbus is reviled in Latin American countries for bringing disease, slavery and other evils to the native peoples?
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Market Overview: The East End
Southampton Town was the only town reporting positive results across the board.
According to Suffolk Research Services, Inc.:
East Hampton Town:
- The median sales price decreased 9% to $860,000
- The number of sales decreased 7% to 521
- The dollar volume of sales decreased 26% to $721 million
Southampton Town:
- The median sales price increased 8% to $862,500
- The number of sales increased by 1 unit to 1,044
- The dollar volume of sales increased 19% to $1.898 billion
Southold Town:
- The median sales price remained unchanged at $440,000
- The number of sales decreased 15% to 276
- The dollar volume of sales decreased 9% to $172.5 million
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