RISMEDIA, December 18, 2010—Selling a home in any market can be competitive. It’s essential that your sellers follow some simple, yet important tips to help make their home more salable.
A quicker home sale can be reached by keeping in mind the needs of the home’s most likely buyer and creating a fresh inspiring look just for them, according to Pulte Homes expert Janice Jones, national vice president of merchandising.
“Everyone understands the value of de-cluttering, cleaning and refreshing a home in today’s competitive market,” Jones said. “The difference between a ‘For Sale’ and a ‘Sold’ sign often boils down to effectively staging a home to appeal to young singles, families or empty nesters—the three largest customer segments that are likely to buy your home. Home sellers should have a good idea of the type of buyer who will make an offer and, since everyone likes an updated home, some simple refreshes can achieve an updated look and feel.”
Jones recommends conducting a technology overhaul prior to staging your home. “Old technology will date your home and you seldom have a second chance to make a positive first impression,” she said. “Flat screen TVs, laptop computers, iPods with docking stations and wireless technology have eliminated the need for large bulky entertainment centers or massive desks designed to hide wiring. Once you’ve rid your home of bulky, dated stereos and TVs, it’s time to hone in on attracting prospects.”
Here are a few, additional ideas:
For singles, Jones recommends emphasizing sleeping spaces and the living room, which are critical to this group. “Singles will spend a lot of time in the living room and the bedroom, which are their sanctuaries from the outside world. As a result, there is no need to set the dining room table with place settings,” Jones said. “Instead, focus on a simple TV stand with clean lines, a flat screen TV and candles in the bedroom and bathroom.”
Young families tend to revolve around children. Items that help this demographic envision themselves living in the space include age-appropriate bedding, linens and towels, a bright rug near play areas, and strategically placed toy chests with open tops. Since kids often play or watch TV on the floor, eliminate the coffee table to create a living room that appears larger and more inviting. Jones notes to remember about the garage when staging for families. “Organize children’s toys and sports equipment to showcase the garage’s storage capacity without compromising functionality,” she said.
Empty nesters tend to seek an upgrade in quality features. Upgrading bath accessories like towel bars and toilet paper holders or decorative hanging lights to a better quality and newer style will make an impact. If the budget allows, upgrading the refrigerator, stove and dishwasher can draw in a buyer.
Lighting is also a key feature for this group. Jones advises ensuring living spaces maximize natural light. If lighting is less than ideal, add lamps or a ceiling fan with light fixtures. It’s important to open heavy blinds or window coverings when showing the home.
An absolute “must” for home stagers regardless of which demographic is being targeted is color. Most sellers are instructed to use neutral colors when repainting. However, adding the right punch of color to accent walls can create depth, enhance kitchen cabinets, or bring a boring bathroom to life.
Homeowners can find color in simple accessories, like throw pillows, coffee table books, and decorative canisters. Neutral colors in flooring materials, upholstery pieces and window dressing work well because they enhance brighter accents.
When choosing colors, Jones cautions homeowners to be aware of their sensory impact:
- Red is stimulating and encourages self confidence
- Orange promotes happiness and celebration
- Yellow is uplifting and light-hearted
- Blue is calming in softer tones and promotes clarity in deeper tones
- Green is the color of nature—it feels fresh and rejuvenating
- Aqua is restful while pink is gentle and sweet—making a great pair
- Purple tones bring out a sense of compassion
“The key is to experiment and put yourself in the shoes of the prospective home buyer,” Jones said. “It may be helpful to ask a friend or relative for a brutally honest opinion before and after you start staging. You may be surprised how little changes—with a little budget—can make a huge difference to a prospective buyer.”
Real Estate help that matters to the Tri-Cities of Washington State in Richland, Kennewick, Pasco and their surrounding communities of Benton City, West Richland, Finley, Prosser and Burbank.
Showing posts with label Franklin Country. Show all posts
Showing posts with label Franklin Country. Show all posts
Monday, January 3, 2011
Friday, December 17, 2010
Tri-City home resales, prices on the upswing - Mid-Columbia News | Tri-City Herald : Mid-Columbia news
By the Herald staff and The Associated Press
Read more: http://www.tri-cityherald.com/2010/08/12/1127853/tri-city-home-resales-prices-on.html#storylink=mirelated#ixzz18OpR3n7W
Homes resales and the median home price in the Tri-Cities continue to increase at a time when median prices in the rest of the state are falling, according to a Washington State University report.
Home sales in Washington surged in the second quarter compared to a year ago, but statewide median prices continued to fall, though the decline was much smaller than seen in recent quarters, says the report by Washington Center for Real Estate Research.
The Tri-Cities registered an increase of 5.5 percent in the median resale price, together with a 33 percent increase in home resales.
It's perhaps the only community in the state to see significant growth, thanks largely to federal stimulus money, said Glenn Crellin, the center's director. The median home price in Benton and Franklin counties was $173,100 in the second quarter.
Stimulus money earmarked for Hanford cleanup has resulted in strong employment and housing markets in the Tri-Cities.
The pending end of federal tax credits for homebuyers clearly boosted sales in the April to June period, the research center said. Statewide, the number of homes sold rose 27.5 percent from the sales rate of the second quarter last year. Sales were up 3.5 percent from the first quarter of this year.
Crellin said nearly every county in the state saw increased sales activity compared with a year ago.
In the Tri-Cities, 1,150 homes were sold from April to June, according to the Tri-City Association of Realtors.
"Our market continues to be steady," said Jeff Thompson, co-owner of Windermere Real Estate Tri-Cities. "We haven't seen a lot of foreclosures," which could have lowered prices.
New homes are being constructed at a reasonable pace to add to the Tri-City housing inventory, Thompson said. At the end of June, 1,018 homes were available for sale.
The local economy continues to draw people into the Tri-Cities, he said. Homes in the $100,000 to $225,000 price range continue to appreciate up to 2.5 percent annually, he said.
In July, about 12 percent of the total homes sold in the Tri-Cities were in the $350,000 and above price range, according to Windermere data.
The inventory of high-end homes in the state is higher, and they tend to move slowly, Crellin said.
Sometimes high-end homebuyers -- who recently have moved into the area -- face a credit squeeze, Thompson said. They are unable to sell their old homes because the housing market in other parts of the country has slowed considerably.
"We need to educate people that the Tri-Cities is different. We are an appreciating market," Thompson said.
The five-county Central Puget Sound region had home sales of 49,980, more than half of the statewide total.
The median sale price during the second quarter was $246,800, which was 6.9 percent less than the median a year earlier, the center said.
The highest median price was $375,500 in King County, which replaced San Juan County as the price leader for the first time in several years. The lowest median price was $107,500 in Columbia County, the center said.
Among the urban areas, the biggest decline was 9 percent in Snohomish County.
Low prices and low interest rates made homes more affordable for households with good credit and reliable jobs, the center said. The housing affordability index showed a slight improvement to 136.4, meaning the median income family had 36.4 percent more income than the minimum required to buy a median price home with a 20 percent down payment and a 30-year mortgage.
The housing affordability index for Benton County was 177.7 and for Franklin County was 148.5.
Home sales in Washington surged in the second quarter compared to a year ago, but statewide median prices continued to fall, though the decline was much smaller than seen in recent quarters, says the report by Washington Center for Real Estate Research.
The Tri-Cities registered an increase of 5.5 percent in the median resale price, together with a 33 percent increase in home resales.
It's perhaps the only community in the state to see significant growth, thanks largely to federal stimulus money, said Glenn Crellin, the center's director. The median home price in Benton and Franklin counties was $173,100 in the second quarter.
Stimulus money earmarked for Hanford cleanup has resulted in strong employment and housing markets in the Tri-Cities.
The pending end of federal tax credits for homebuyers clearly boosted sales in the April to June period, the research center said. Statewide, the number of homes sold rose 27.5 percent from the sales rate of the second quarter last year. Sales were up 3.5 percent from the first quarter of this year.
Crellin said nearly every county in the state saw increased sales activity compared with a year ago.
In the Tri-Cities, 1,150 homes were sold from April to June, according to the Tri-City Association of Realtors.
"Our market continues to be steady," said Jeff Thompson, co-owner of Windermere Real Estate Tri-Cities. "We haven't seen a lot of foreclosures," which could have lowered prices.
New homes are being constructed at a reasonable pace to add to the Tri-City housing inventory, Thompson said. At the end of June, 1,018 homes were available for sale.
The local economy continues to draw people into the Tri-Cities, he said. Homes in the $100,000 to $225,000 price range continue to appreciate up to 2.5 percent annually, he said.
In July, about 12 percent of the total homes sold in the Tri-Cities were in the $350,000 and above price range, according to Windermere data.
The inventory of high-end homes in the state is higher, and they tend to move slowly, Crellin said.
Sometimes high-end homebuyers -- who recently have moved into the area -- face a credit squeeze, Thompson said. They are unable to sell their old homes because the housing market in other parts of the country has slowed considerably.
"We need to educate people that the Tri-Cities is different. We are an appreciating market," Thompson said.
The five-county Central Puget Sound region had home sales of 49,980, more than half of the statewide total.
The median sale price during the second quarter was $246,800, which was 6.9 percent less than the median a year earlier, the center said.
The highest median price was $375,500 in King County, which replaced San Juan County as the price leader for the first time in several years. The lowest median price was $107,500 in Columbia County, the center said.
Among the urban areas, the biggest decline was 9 percent in Snohomish County.
Low prices and low interest rates made homes more affordable for households with good credit and reliable jobs, the center said. The housing affordability index showed a slight improvement to 136.4, meaning the median income family had 36.4 percent more income than the minimum required to buy a median price home with a 20 percent down payment and a 30-year mortgage.
The housing affordability index for Benton County was 177.7 and for Franklin County was 148.5.
Read more: http://www.tri-cityherald.com/2010/08/12/1127853/tri-city-home-resales-prices-on.html#storylink=mirelated#ixzz18OpR3n7W
Home sales up, but clouds ahead - Business | Tri-City Herald : Mid-Columbia news
By The Associated Press and Herald staff
Read more: http://www.tri-cityherald.com/2010/10/26/1224447/home-sales-up-but-clouds-ahead.html#ixzz18OohXao8
WASHINGTON -- Nationwide sales of previously occupied homes rose last month after the worst summer for the housing market in more than a decade. And fears over flawed foreclosure documents could keep buyers on the sidelines in the final months of the year.
In the Tri-Cities home sales are up 20 percent for the year compared to last year at this time, said Paul Roy, of Coldwell Banker Tomlinson in Kennewick and vice president of the Tri-City Association of Realtors.
Because the Tri-Cities was not hit with high numbers of foreclosures as other areas of the country were, questions of flawed foreclosure documents should not affect the market here, he said.
Nationally, sales grew 10 percent in September to a seasonally adjusted annual rate of 4.53 million, the National Association of Realtors said Monday.
Home sales have declined 37.5 percent from their peak annual rate of 7.25 million in September 2005. They have risen from July's rate of 3.84 million, which was the lowest in 15 years. Most experts expect about 5 million homes to be sold through the entire year. That would be in line with last year's totals and just above sales for 2008, the worst since 1997.
Still, sales could fall further if potential lawsuits from former homeowners claiming that banks made errors when seizing their homes make consumers fearful of buying foreclosed properties.
The Federal Reserve on Monday became the latest regulator to announce it would be looking into whether mortgage companies cut corners on their own procedures when seizing homes. Chairman Ben Bernanke said the Fed would look intensively to see if policies, procedures or internal controls led lenders to improperly foreclosure on homeowners. Preliminary results of an in-depth report are expected to be released next month.
"We take violation of proper procedures very seriously," Bernanke said.
In a survey taken by the Realtors group this month, about 23 percent of the 2,000 agents surveyed said they have a client who is no longer interested in purchasing a foreclosed property due to the foreclosure-document mess.
"You're going to see uncertainty on the part of homebuyers," said Quinn Eddins, director of research at Radar Logic Inc., which tracks the housing market.
Mortgage applications to purchase homes last week were 29 percent below the same week a year ago, according to the Mortgage Bankers Association. At that time, buyers were rushing to purchase homes to qualify for federal tax credits.
Last month the inventory of unsold homes on the market fell about 2 percent to 4 million. That's a 10.8 month supply at the current sales pace.
In the Tri-Cities home sales are up 20 percent for the year compared to last year at this time, said Paul Roy, of Coldwell Banker Tomlinson in Kennewick and vice president of the Tri-City Association of Realtors.
Because the Tri-Cities was not hit with high numbers of foreclosures as other areas of the country were, questions of flawed foreclosure documents should not affect the market here, he said.
Nationally, sales grew 10 percent in September to a seasonally adjusted annual rate of 4.53 million, the National Association of Realtors said Monday.
Home sales have declined 37.5 percent from their peak annual rate of 7.25 million in September 2005. They have risen from July's rate of 3.84 million, which was the lowest in 15 years. Most experts expect about 5 million homes to be sold through the entire year. That would be in line with last year's totals and just above sales for 2008, the worst since 1997.
Still, sales could fall further if potential lawsuits from former homeowners claiming that banks made errors when seizing their homes make consumers fearful of buying foreclosed properties.
The Federal Reserve on Monday became the latest regulator to announce it would be looking into whether mortgage companies cut corners on their own procedures when seizing homes. Chairman Ben Bernanke said the Fed would look intensively to see if policies, procedures or internal controls led lenders to improperly foreclosure on homeowners. Preliminary results of an in-depth report are expected to be released next month.
"We take violation of proper procedures very seriously," Bernanke said.
In a survey taken by the Realtors group this month, about 23 percent of the 2,000 agents surveyed said they have a client who is no longer interested in purchasing a foreclosed property due to the foreclosure-document mess.
"You're going to see uncertainty on the part of homebuyers," said Quinn Eddins, director of research at Radar Logic Inc., which tracks the housing market.
Mortgage applications to purchase homes last week were 29 percent below the same week a year ago, according to the Mortgage Bankers Association. At that time, buyers were rushing to purchase homes to qualify for federal tax credits.
Last month the inventory of unsold homes on the market fell about 2 percent to 4 million. That's a 10.8 month supply at the current sales pace.
Read more: http://www.tri-cityherald.com/2010/10/26/1224447/home-sales-up-but-clouds-ahead.html#ixzz18OohXao8
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