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Greetings!
Many times we are asked if the cost of, or as we like to think of it, investment in, staging will be recouped upon sale.
Well, this month we have yet another example of a price increase after staging! Last month it was a 3% increase, and this month it's an 8% increase!
Plus the homeowner accepted an offer just 2 weeks after the first open house at 96% of asking price!
See the amazing Before and After pictures below.
Warmest regards,
Donna M. Dazzo, President
Designed to Appeal |
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Testimonial of the Month
"After seeing Donna's work, I knew she would be integral to the sale of my apartment. She had a vision for my apartment that I would never have been able to attain on my own. With her guidance and talent, my place was transformed. I often refer to Donna and my real estate agent, Lisa Wiener-Koenig, as my Dream Team. In less than 2 weeks from the open house, an offer was accepted! Amazing work!"
Nina Hernandez, Homeowner |
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Price Raised 8% After Staging and Accepted Offer
After Just Two Weeks!
A recently married homeowner needed to sell her one bedroom apartment in the Village. After viewing the apartment during our home staging consultation, 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.
- Add a ceiling light fixture to define the dining area
- Refinish the wood floors
As we told the homeowner, staging is more than just showcasing the property with furniture and decorative accessories. It's also about improving the condition of the property.
Her total investment in staging and updates was about 1.7% of the original planned asking price and well worth the investment, given the fact that she and her real estate agent raised the planned asking price by 8%!
And just two weeks after the first open house, the homeowner accepted an offer at 96% of asking price!
Here are the photos before and after we staged:
Living Room Before
Living Room After
Dining Area Before
Dining Area After
Bedroom Before
Bedroom After
Kitchen Before
Kitchen After
Bathroom Before
Bathroom After
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Market Overview: New York, NY
"With strong sales, lower inventory, and steady price growth, the residential real estate market showed continued signs of improvement. Third Quarter 2011 recorded the highest number of transactions since Second Quarter 2008 - before the downturn."
The following is a comparison of Third Quarter 2011 vs. Third Quarter 2010:
Market Wide:
- Sales increased 15%
- Listings on the market decreased 5% to 8,750
- Median price decreased 2% but price per square foot increased 3%.
- New listings as a % of total listings remained unchanged at 65%
Condos:
- The median sale price decreased 6% to $1,085,000
- The average price per square foot increased 4% to $1,225
Co-ops:
- The median sale price increased 1% to $699,000
- The average price per square foot was $871
While Corcoran maintains that the market shows continued signs of improvement, other firms say that the market is maintaining its status quo. Read what other firms' reports have to say. |
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Tips and Tricks
of the Trade
Living in New York means you have to know how to maximize the small spaces we live in. We've been in some very high-priced apartments in this city, and size does not always equate with price. Often price is driven by location or the building, rather than the square footage of the apartment.
Having said that, there are many New Yorkers who live in tiny spaces. And just because your space is small, doesn't mean it can't be stylish. See what these apartment residents did to their tiny spaces.
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Did you know....
- ...The Celtic holiday of Samhain, the Catholic Hallowmas period of All Saints' Day and All Souls' Day and the Roman festival of Feralia all influenced the modern holiday of Halloween?
- ...in the 19th century, Halloween began to lose its religious connotation, becoming a more secular community-based children's holiday?
- ...Halloween is the 2nd most commercially successful holiday, with Christmas being the first? People spend as much as over $2.5 billion during Halloween on candies, costumes, decorations and parties.
- ...orange and black are Halloween colors because orange is associated with the Fall harvest and black is associated with darkness and death?
- ...it is believed that the Irish began the tradition of Trick or Treating? In preparation for All Hallow's Eve, Irish townsfolk would visit neighbors and ask for contributions of food for a feast in the town.
- ...the ancient Celts thought that spirits and ghosts roamed the countryside on Halloween night? They began wearing masks and costumes to avoid being recognized as human.
- ...Jack o lanterns originated in Ireland where people placed candles in hollowed-out turnips to keep away spirits and ghosts on the Samhain holiday.
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Market Overview: The East End
According to the Third Quarter 2011 report by George R. Simpson, President of Suffolk Research Service, Inc.:
"The real estate market on the East End of Long Island, (with the exception of the Town of Southampton), is down in the 3rd Quarter of
2011. It is showing discouraging results over previous quarters and over the previous year."
Note: The following analysis is a comparison of 3rd quarter 2011 vs 3rd quarter 2010.
East Hampton Town:
- The median sales price increased 1.4% to $750,000
- The number of sales decreased 19% to 107
- The dollar volume of sales decreased 35% to $147 million
Southampton Town:
- The median sales price increased 11% to $790,000
- The number of sales decreased by less than 1% to 227
- The dollar volume of sales increased 14.5% to $393 million
Southold Town:
- The median sales price decreased 10% to $440,000
- The number of sales decreased 7% to 79
- The dollar volume of sales decreased 19.4% to $42 million
According to an article in The Real Deal, high end ($3.5 million and up) home sales in the Hamptons were up in the third quarter compared to last year. |
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For More Info During the Month...
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F/REE Closet Organization,
Open House, and Moving Checklists |
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Download your FREE Closet Organization, Open House and Moving Checklists, | | | |
Try our new Home Staging Savings Calculator developed by the Real Estate Staging Association (RESA):DIV>
Click on the calculator above, which will launch in a new window.
For more detailed instructions, click here. |
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