Our staging success story this month is a "two" bedroom apartment on the Upper West Side that had layout challenges and needed hefty renovations.
The real estate agent, Cynthia Crowley of Olshan Realty, convinced her client that his investment in staging would be more than returned to him by increasing the value of the apartment beyond what a similar apartment sold for. Read what Cindy had to say about her strategy here.
After a fresh coat of paint, sanding the hardwood floors, updating some light fixtures, and staging the apartment with rental furniture and our decorative accessories, the apartment sold in just one week at 3% over the asking price and 25% over the comparable apartment! Check out our before and after photos here.
Warm regards,
Donna M. Dazzo, President
Designed to Appeal
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Testimonial of the Month
"We had a unique challenge with an apartment on Central Park West. This combined unit had nearly 1600sf but was only set up as a one bedroom, though it's greatest value would be as a three bedroom. Additionally, it had been rented out for the last ten years, so it looked tired.
An identical unit had just closed in a neighboring building, in similar condition and unstaged, for $1,800,000. But we knew if buyers could see the potential of the multiple rooms, and have it freshened up so buyers felt they could move right in, we could greatly enhance the sales price for our owner.
Donna brought in her team, and decorated the wide open lofty living room so that buyers could easily visualize a dining room plus 2nd AND 3rd bedrooms, while still maintaining the drama of a double living room with park views. With deft touches of modern lighting, freshly sanded floors and peppy decor, she took drab 60s and made it a fabulous contemporary that really energized buyers at the open house.
Within a week of the listing we had a contract well over the asking price, and in fact sold the apartment for $2.25 million, a whopping 25% premium over the last similar sale.
Olshan Realty, New York, NY
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Living Room (Foreground) Before
Living Room (Foreground) After
TV Area (Foreground) Before
TV Area After
Master Bedroom Before
Master Bedroom After
Guest Bedroom Before
Guest Bedroom After
Kitchen Before
Kitchen After
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Market Overview: New York, NY
"May 2015 continued this year's strong and steady market performance. Contracts signed and inventory were up by single digits compared to last year. Negotiability and days on market continued to shrink. This month co-ops saw a positive change from last asking price to sale price, indicating on average buyers are paying above ask. New developments began to launch in large numbers in the last few months and condo price increases reflect the larger number of new development sales in addition to price appreciation. With co-ops representing a relative bargain to condos, demand is high, driving pricing upward and inventory down. Market share for condo listings continues to increase, resulting from both new development launches and under-supply in the co-op market."
The following is a comparison of May 2015 vs. May 2014:
Market Wide:
- Listings on Market: 6,030 units which was a 2% increase.
Condos:
- The median sale price of $1.75 million was a 3% increase.
- The average price per square foot of $2,186 was a 22% increase.
- The listed inventory was 2,957 units which was a 8% increase.
Co-ops:
- The median sale price of $895,000 was a 19% increase.
- The average price per square foot of $1,184 was a 10% increase.
- The listed inventory was 2,620 units which was a 5% decrease.
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Tips and Tricks of the Trade: Tips For Lightening Your Closet's Load
It's a mess, it's unmanageable, and you need space.
As you begin to pull items, however, the rational resolve breaks down and you begin to bring up overriding rationale to keep almost every item you were previously prepared to part with. Have no fear, Houzz contributor, Jennifer Phelps has come up with a list of tips that will keep you on track to a cleaner, more organized closet.
1. Note the excuses
We all have things we hold on to. Note the reasons that pop into your head, because once you know your reasons for holding on to those things, you'll be better able to move forward and make room - literally and figuratively.
2. Unburden yourself of the unworn
We've all heard that unless it's a cocktail gown or your wedding dress, you should get rid of it if you haven't worn it in six months. For many of us, that's easier said than done. It could even sound downright unreasonable. But there are ways to put this in perspective.
3. Multiply your space by trimming down multiples
Do you have five white blouses, black skirts or pink bras? Toss just one of these multiples and you've immediately gifted yourself with 20 percent more space.
4. Dump the damaged goods
Give yourself one week to treat the stuff, take it to the seamstress or move it out. You'll be rid of a pile and will enjoy the singular satisfaction of checking something off your to-do list.
5. Unload the unfashionable, unflattering and unhealthy
Certainly, some items are true classics and stand the test of time. However, clothes worn in a job you no longer have or in an environment you no longer frequent (say, outfits from your clubbing days) simply need to go, especially if that job or environment has bad feelings or loss attached to it.
To read more tips within the entire article, click here!
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Did You Know.....?
Fourth of July Trivia!!
1. What day did most signers of the Declaration of Independence actually sign the document?
a) July 4, 1776
b) May 4, 1776
c) August 2, 1776
d) December 31, 1776
2. How many people signed the Declaration of Independence on July 4th?
a) two
b) one
c) seven
d) five
3. Which president was born on the fourth of July?
a) Ulysses S. Grant
b) George Washington
c) Calvin Coolidge
d) William Howard Taft
4. When did the fourth of July become a legal, federal holiday?
a) 1942
b) 1827
c) 1938
d) 1779
For the answers to these and more trivia questions, click here.
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Market Overview:
The East End
East Hampton Town:
- The median sales price of $995,000 was a 7.9% decrease.
- The number of sales of 770 was less than a 1% decrease.
- The dollar volume of sales of $1,240M was a 12% decrease.
Southampton Town:
- The median sales price of $940,000 was a 10.6% increase.
- The number of sales of 1,442 was a 12% decrease.
- The dollar volume of sales of $2,760M was a 5% decrease.
Southold Town:
- The median sales price of $505,000 was a 3% increase.
- The number of sales of 352 was an 2% decrease.
- The dollar volume of sales of $222M was a 25% decrease.
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For More Info
During the Month...
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FREE Closet
Organization,
Open House, and
Moving Checklists
Download your
FREE Closet
Organization,
Open House, and
Moving Checklists.
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Try our
Home Staging Savings Calculator developed by the Real Estate Staging Association (RESA)
Click on the calculator above, which will launch in a new window.
For more detailed instructions, click here.
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