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Greetings!
I have some bad news and some good news to report. In last month's newsletter, we featured a property we staged that had an accepted offer just 2 weeks after the first open house at 96% of asking price.
Well, that deal fell through, as sometimes happens, so another open house was held, and this time the owner had 3 offers in the first week and accepted one at 98.5% of asking price!
As the owner said "Seems things do work out for the best sometimes."
This month we feature our transformation of another owner-occupied property, a nearly $6 million townhouse on the Upper West Side, which went into contact in a third less time than the average townhouse.
See the amazing Before and After pictures below.
Warmest regards,
Donna M. Dazzo, President
Designed to Appeal
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Testimonials of the Month
"Not only did Donna and her team do a great job by knowing the right things to do to make my townhouse more saleable, I was very impressed by Donna's professionalism, sense of decorative style and very importantly, her concern and attention to her client's budget. She didn't consider the time and expense of staging to be a "blank check" from me. Because I was so impressed by these qualities, I hired Donna to decorate my new apartment."
Monika Conley, Homeowner
New York, New York
"The staging was very well done and showed the house to its best advantage. The house seemed much lighter and brighter just by eliminating furniture and painting the walls. Also, each room was staged with a specific theme and look which gave a purpose to each room. This allowed a prospective buyer to understand how the townhouse might be utilized for their specific needs and to imagine themselves living there."
Lisa Fitzig, Corcoran
New York, New York |
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 $6 Million Staged Townhouse Goes into Contract
Faster Than Average!
 After we staged this townhouse on the Upper West Side, it went into contract 72 days later, a third less time than the average days on the market of 117!*
This 6-story townhouse was occupied by the owner, Monika Conley (see her testimonial above), on the first four floors and had two stories of rental apartments above it. Our staging concentrated only on the owner's unit.
Following our extensive Home Staging Consultation, she agreed to implement almost all of our recommendations.
Here are the photos before and after we staged:
Living Room Before
The room had heavy, outdated drapery and not the right artwork for the room.
Living Room After
So we removed the drapes and rearranged the owner's
extensive artwork collection.
Living Room Before
The room also had outdated and too much furniture.
Living Room After
So we removed it and replaced it with tasteful rental furniture.
 Living Room Landing Before
The outdated, overwhelming and heavily personal mural (from a prior owner) was sure to turn off the target buyer for this type of home.
Living Room Landing After
So we convinced the homeowner to paint, and grouped
the owner's sculpture collection together for more visual appeal.
Dining Room Before
The dining room was dark and not very inviting for
a formal dinner.
Dining Room After
Replacing the rug, adding a chandelier & mirror, and covering the chairs
all lightened up the space.
Guest Bedroom Before
This bedroom was overwhelmed by its dark mural...
Guest Bedroom After...until the owner agreed wtith our recommendation to paint the walls. We also changed the bedding,replaced the furniture and again made use of the owner's artwork collection.
Garden Room Before
This poor room looked like it was used
for a random collection of furniture...
Garden Room After
...until we convereted it into a lovely garden room leading to the outdoor space using most of the owner's furniture from elsewhere.
Garden Before
And the lovely garden seemed neglected and unused.
Garden After
So we had it professionally landscaped and now
buyers can imagine themselves relaxing here.
* Prudential Douglas Elliman Manhattan Townhouse Report. |
Market Overview: New York, NY
"The number of contracts signed in October increased from September
for both condos and co-ops but sales activity declined 8% compared to October 2010."
The following is a comparison of October 2011 vs. October 2010:
Condos:
- The median sale price increased 3% to $1,112,500
- The average price per square foot remained unchanged at $1,267
- Days on the market decreased a whopping 18% to 192 compared to last year
- Discount from last ask to sale also decreased at a whopping 46% to 3.8% due to less available inventory
- Listed inventory decreased 14% to 3,820 units
- Number of contracts signed decreased 13% to 305
Co-ops:
- The median sale price decreased 21% to $574,700
- The average price per square foot decreased slightly to $891
- Days on the market decreased 6% to 150
- Discount from last ask to sale also decreased at a whopping 32% to 3.6%
- Listed inventory remained unchanged at 4,674 units
- Number of contracts signed decreased 5% to 412
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Tips and Tricks of the Trade
We've recently discovered Maxwell Gillingham-Ryan's 20/20 (20-minute ideas for 20 days) Cure Videos and especially found the Day 19 video on Hanging Artwork to be most helpful (no suprise there).
With Maxwell's easy going ways and easy instructions, you won't be intimidated by hanging art ever again.
Click here to watch the short video. |
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Did you know....
...that 6 of the 10 most expensive ZIP codes in the country according to Forbes Magazine are right here in the New York metropolitan area?
- Alpine, New Jersey comes in at #1 with a median sale price of $4.55 million
- Sagaponack, New York (in the Hamptons) is #3 with a median sale price of $3.6 million
- 10012 (SoHo area) in New York, New York is #6 with a median sale price of $3.39 million
- 10013 (Tribeca area) in New York, New York is #7 with a close median sale price of $3.32 million
- Water Mill, New York (in the Hamptons) is #8 with a median sale price of $3.3 million
- Old Westbury, New York (Long Island) is #10 with a median sale price of $3.09 million.
So what zip codes are numbers 2, 4, 5 and 9? Find out here. |
Market Overview: The East End
Note: The following analysis is a comparison of annualized numbers through October 2011 to all of 2010.
According to the October 2011 report by Suffolk Research Service, Inc. it seems that Southampton Town continues to perform more strongly than other East End towns:
East Hampton Town:
- The median sales price decreased 4.75% to $900,000
- The number of sales decreased 12% to 492
- The dollar volume of sales decreased 30% to $681 million
Southampton Town:
- The median sales price increased 7% to $855,000
- The number of sales decreased by 5% to 990
- The dollar volume of sales increased 14% to $1.814 billion
Southold Town:
- The median sales price remained relatively unchanged at $437,500
- The number of sales decreased 12% to 280
- The dollar volume of sales decreased 12% to $167 million
Also, see Prudential Douglas Elliman's 3rd Quarter report on sales in the Hamptons and the North Fork.
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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, |
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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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