Friday, July 10, 2020

Is Professional Staging Worth It When Selling Your Home?


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With the real estate shifting toward a buyers market, it is essential to present your home in such a way that showcases its best features and minimizes or rectifies problem areas. Many surveys have proven the importance of home staging as a powerful real estate marking tool that helps sell your home faster and for top dollars.
In my business, I offer a staging consultation and staging to assist my clients in selling their home.

What's Staging? 
Staging involves dressing-up your home to be presented for sale in its best possible state. It is about merchandising your property. 

Professional home stagers work with the traffic flow of a home, eliminate or reduce clutter, rearrange the furniture, add decorative accessories, and create the illusion of space to enhance the best features of your home and minimize or rectify problem areas. 
Another often overlooked, but equally important part of the staging process is addressing the exterior of the property. Often times, a prospective buyer forms their opinion about a property based on curb appeal. A property's exterior is very important, and for this reason, stagers will also make recommendations based on the property's landscaping, driveway, and exterior look.

Good staging considers the style of the home and ensures that the staging is done with moderate taste to appeal to a wide range of people. When done properly, your house can make a memorable first impression on potential homebuyers. Staging can be accomplished with a minimal amount of time, money and effort. 

How Much Does Staging Cost?
Usually, home stagers will work within the seller's budget, with an average cost of $1,000 to $4,000. This is dependent on the home's requirements and the amount the seller can afford to spend. 
The initial investment starts with a consultation, lasting one to two hours. During this time, your home will be closely examined with the critical eye of a potential buyer. The home stager will then provide you with a list of recommendations. You may do all of the work yourself, hire out some of it, or perhaps leave the entire process to the staging professional. 
Market Advantage 
As a seller, two considerations are of most importance: time (how long it takes to sell the home?) and money (how much money the home sells for?). 
Staging provides advantages on both fronts. Many surveys have proven, quite powerfully, that there are many benefits to staging. Indeed, one of the most important benefits of staging is that it can allow sellers to obtain top dollars for their property. Often times, the seller will obtain a 200% to 300% return on their investment in staging.
  • A staged home shows better than competing homes on the market. 
  • Staged homes sell for more money than unstaged homes. 
  • A staged home sells faster than an unstaged home. 
  • The listing of a staged home looks superior in print advertising and appeals to more people. 
  • Realtors recognize staged homes as the best properties to show their clients. 

It's Never Too Late To Stage...
If your house is already on the market, you may feel that you are reading this too late in the game. Rest assured, this is not true. While it's ideal to have your home staged before it's listed, the benefits of staging can also be achieved after it's been sitting.

If your home is currently sitting with no reasonable offers, and it's not overpriced, you should consider having it staged. Once the staging work is completed, your real estate agent can simply change the marketing plan. Instead of advertising it as "reduced", it can now be advertised as "recently staged", which is actually much less costly than a price reduction as well as the obvious benefit of generating new interest in your property.
There is no question that staging plays an important role in today's real estate market. Consult your realtor to assess the viability of staging your home.

Outdoor Lighting Ideas for Your Home!

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Well-executed exterior lighting can enhance the architectural detail of your property and makes your home look beautiful in the evening adding an abundance of curb appeal.   Aside from aesthetics, good exterior lighting can give you and your guest’s added security and peace of mind when entering and leaving your home.
Much of the success of exterior lighting depends mainly on its design. Professional lighting designers often talk about the “moonlight effect.” That’s a naturalistic look that features light no more intense than that of a full moon, but still strong enough to make beautiful shadows and intense highlights.
A well-lit front entrance enables you to greet guests and identify visitors. Wall lanterns on each side of the door will give your home a warm, welcoming look while assuring the safety of those who enter.
Install a single fixture above the garage door to provide lighting for safety and security. Consider installing a motion sensor on these fixtures or a photocell that turns the lights on at dusk and off at dawn to save energy.
Another important factor is making your home secure and safe from intruders and animals. Good lighting around the entire perimeter of your home can be a deterrent in itself. Illuminate any side of the house that would otherwise be in shadows. Spotlights installed on your eaves will accomplish this, or, for a more dramatic look, consider ground lights pointed up to graze your walls.
Steps, paths, and driveways should be illuminated to make sure family members and guests are able to move about easily and safely after dark. You can install path lights or post lanterns or attach lights to the side of the house.  Low-level path lights, which spread circular patterns of light, will brighten your walkway while highlighting nearby flower beds, shrubs and ground cover. Low-level path lights can also be used to define the boundaries of long driveways.
If you have added exterior features like a swimming pool, an exterior porch or entertaining space, ensure these areas are well lit as well.
Choose lighting fixtures that look beautiful, but also throws light a good distance away from your home. This will help illuminate dark areas and aid your vision to see outside from inside your home. If you have a large property, floodlights installed on the corners of your home will help throw light further than average wall sconces on the exterior of your home.
Another consideration to keep in mind is to select outdoor light fixtures that are energy efficient and made of durable material to suit the harsh outside temperatures during the hot summer days and cold winter nights.  In most cases, fixtures made of cast aluminum are a very durable option

Monday, July 6, 2020

Home Sales Average breaks $600K for the First Time in Kitchener-Waterloo

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The number of homes sold in June shot up 57.6 per cent compared to May. There were 673 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in June 2020, an increase of 2.1 per cent compared to June 2019, and an increase of 8.5 per cent compared to the previous 10-year average for June.  

“After a pandemic–induced delay to the typical spring market, home sales sprung back to life in a big way in June,” said Colleen Koehler, President of KWAR. “As Waterloo region entered stage two of reopening, we saw many buyers and sellers resuming their home buying and selling plans.” 

Total residential sales in June included 413 detached homes (up 1.7 per cent from June 2019), and 67 condominium apartments (up 36.7 per cent). Sales also included 134 townhouses (down 15.7 per cent) and 59 semi-detached homes (up 31.1 per cent).    

Total residential sales during this second quarter (April, May, June) are down 33 per cent compared to last year. On a year-to-date basis they are down 15.6 per cent.   

“I expect for the remainder of 2020 will see the number of home sales returning to near historical levels,” says Koehler. “There will be some catching up to do in the coming weeks, but I don’t think you will see the market taking a hiatus this summer.”    
   
The average sale price of all residential properties sold in June increased 12.8 per cent to $601,285 compared to the same month last year, while detached homes sold for an average price of $698,736 an increase of 13.2 per cent. During this same period, the average sale price for an apartment–style condominium was $372,392 for an increase of 13.2 per cent. Townhomes and semis sold for an average of $457,851 (up 11.4 per cent) and $504,816 (up 17.3 per cent) respectively.  

The median price of all residential properties sold in June increased 14.4 per cent to $564,000 and the median price of a detached home during the same period increased 11.9 per cent to $650,000. 

There were 920 new listings added to the MLS® System in KW and area last month, the most added in a single month since May of last year, and 1.9 per cent more than the previous ten-year average for June.   

The total number of homes available for sale in active status at the end of June was 640, a decrease of 28.7 per cent compared to June of last year.  

The number of Months Supply (also known as absorption rate) continues to be very low at just 1.4 months for the month of June, 22.2 per cent below the same period last year. The previous ten-year average supply of homes for June was 3.22 months, and in the past 5 years, the average supply for June was 2.22 months.  

The average days to sell in June was 16 days, compared to 20 days in June 2019.   

Koehler notes real estate was deemed an essential service from the beginning of the lockdown and REALTORS® have been taking all the necessary precautions to ensure transactions are done safely. KWAR’s president advises consumers to talk to their Realtor® about what measures they will be taking to protect your health and safety as they help you on your real estate journey.   








KWAR cautions that average sale price information can be useful in establishing long term trends but should not be used as an indicator that specific