Showing posts with label Tammy Behnam. Show all posts
Showing posts with label Tammy Behnam. Show all posts

Thursday, September 3, 2015

Are you ready to sell?


If you're like most home sellers, your house is worth a lot less than it was five years ago, maybe even less than what you paid for it.
So it isn't worth sinking more money into it before you put it on the market, right?
Sorry, but no, according to real estate agents. Sprucing up a home before you sell is still the best way to attract buyers and get a sale in this slowly recovering housing market.
"Buyers are picky," said Kim Guild, an agent with Keller Williams Realty, Edina. "There's not a lot of great inventory, but buyers still want it to look a certain way. A house needs to show like a model."
Today's buyers have higher expectations, but they aren't as set on a single neighborhood as they used to be, according to Laura Tiffany, an agent with Coldwell Banker Burnet's Minneapolis Lakes office. "They're more value-driven. They're willing to look in a broader area, which gives them more choices. The main thing I'm telling my clients is that homes need to be in pristine condition."
That doesn't mean you need to invest in major remodeling projects. Simple repairs, minor cosmetic enhancements, decluttering and staging are enough, in most cases, to make a home appealing to current buyers.
"Eliminate objections," said John Everett, an agent with Edina Realty. "You're competing with other houses, and the competition is all staged, neutralized and looking good. It doesn't cost a lot to declutter. Fresh paint doesn't cost a fortune."
A move-in-ready house is important to today's buyers because most don't have cash to pay for updates, Guild said. "They can finance the house but not the improvements. Lenders aren't approving those like they used to. You can't get those [home equity] lines of credit."
Plus, many of today's buyers aren't prepared -- or willing -- to tackle even minor home improvements themselves, according to Everett. "If they're both working, they don't have time." And most came of age in an era when home repairs and painting were increasingly outsourced.

"Buyers don't have a clue," Everett said. "They didn't do these things growing up and they didn't see their parents doing them. Today, when you point out a workbench in the basement, usually the wife laughs hysterically and says something like, 'My husband wouldn't know which end of the screwdriver to use.'"
So, if you're a home seller, what's worth spending money on and what's not? We asked agents to weigh in:
Professional photography. "The first showing is now online," Guild said. "You're not making the first impression when the buyer comes in the door, but on the Internet." Amateurish snapshots reduce the likelihood that a prospective buyer will be impressed enough to make an appointment. But high-quality shots by a pro who understands angles and lighting can pique buyers' interest.
Staging. Hiring a professional to present your home in its best light is almost always a worthwhile investment, Guild said. "I'm a huge proponent of staging." A well-staged home evokes positive emotion in potential buyers, often resulting in a faster sale and a higher sale price, she said.
Depending on the size of your home, a full-house staging can cost $2,500 to $3,000 -- even more if furniture, rather than just accessories, are involved. If that's beyond your budget, consider hiring a professional stager for a preliminary consultation and then follow his or her advice to complete the staging yourself.

Repairs. If it's broken, fix it. Today's buyers don't want to inherit your deferred-maintenance chores. "Almost all houses need some love," Everett said. "Spend the money, hire a handyman." Mechanics should be in good working order, Tiffany said. "Furnace certified. Windows and gutters clean -- anything that makes the house present itself as well cared for, and a good value."
Painting. A coat of fresh paint is a must for most homes, at least in rooms that see the most wear and tear. "You want everything to look fresh, new and clean," Tiffany said. Neutral colors are still recommended. While an unusual color scheme might be dramatic, it makes it more difficult for buyers to visualize themselves and their belongings in your home. Tiffany also tells her clients to paint basement floors, as part of cleaning and decluttering. "Basements can be scary, and clean, fresh paint on a cement floor really helps," she said.
Kitchens and baths. Concentrate your home-improvement efforts and dollars in these two spaces, Guild advised. "Kitchens and baths deliver the most bang for the buck." New lighting, faucets and hardware can give a kitchen a fresh, new look without breaking the bank. Bigger-ticket enhancements, such as new countertops, might or might not be smart, depending on the home and other circumstances. Guild has advised some clients with dated kitchens to add granite and new appliances, to appeal to modern buyers. But Everett urges caution. "Granite is very personal, and someone might hate the color you choose," he said. "They may want to pick out their own granite."
Other big projects. Thinking about finishing your unfinished basement so your home boasts more square footage? Don't bother, Guild said. "You're not going to get the money out of it, unless you were going to do it anyway." Tiffany agreed.
"For major improvements, I tell clients they should do it only for themselves, so they can get some enjoyment out of the improvement. The likelihood of a quick return on investment is not strong."
When in doubt about what to improve, ask your agent.
"The biggest thing is listening to the professional you hired," Guild said.

Everett said he's had several recent sales that involved multiple offers, and in every case, "they [sellers] did everything on my checklist." His advice: "Go out with both barrels loaded and get the job done."




Thursday, August 27, 2015

90 Ways to Sell Your Home Faster and for More Money!

The following pages will guide you step by step through the process of preparing your home for sale to achieve the highest possible sale price in the least amount of time.


Repairs

1. The rule of thumb is, if something needs repair, fix it! There are probably many things in your home that you have simply become used to over time . . . things that you have been promising yourself that you will attend to. 


Well, now is the time. The buyer will mentally add up the cost of repairing all those minor flaws and end up with an amount that is generally much higher than what it would cost you to do the repairs.

You might be saying to yourself, “These repairs aren’t any big deal.” But the buyer is thinking, “If the owners didn’t care for these little items, then what about the roof and the furnace?” Needed small repairs and perceived owner neglect will either lower the purchase price or lengthen the time required to sell.

2. Check all walls for peeling paint and loose wall paper.

3. Large repairs: In today’s climate of open disclosure and vigilant professional home inspections, the rule is “Treat a buyer as you would yourself.” Repair any problems with major systems or offer an allowance for the buyer to make repairs after closing. Always disclose anything that you know about the property. Having been a consumer yourself, you know that buyers will more readily make a purchase decision with someone whom they can trust.

Cleaning

4. Every area of the home must sparkle and shine! Each hour spent will be well worth it. Would you rather buy a clean car, or a dirty one? Would you hurry to buy a pair of shoes with mud on them?

5. Clean all windows, inside and out. This helps make the house sparkle.

6. Clean all wall-to-wall carpeting and area rugs. Clean and polish linoleum, tile and

wooden floors.

7. Clean and polish all woodwork if necessary. Pay particular attention to the kitchen and bath cabinets.

8. Clean and polish all light fixtures.

Neutralizing

9. Be cautious about selecting colors when painting or replacing carpeting. Your objective here is to make your home appeal to the largest possible buying segment. Ask yourself, “How many of the available buyers would be able to move into your house with their furniture and not have to replace the carpeting?” Position your home on the market to be as livable to as many people as possible, and allow the buyer to mentally picture the home as theirs.

10. Forget your personal taste . . . the “market” is always demand driven! The average buyer will have a hard time looking beyond blue carpeting and bold wallpaper. Consider replacing unusual or bold colors with neutral tones. Two coats of white paint may be the best investment you ever made.

Space Management

This involves creating the illusion of more space.

11. Arrange furniture to give the rooms as spacious a feeling as possible. Consider removing furniture from rooms that are crowded. If necessary, store large items.

12. Pack up collectibles . . . both to protect them, and to give the room a more spacious feel. Leave just enough accessories to give the home a personal touch. Dispose of unneeded items.

13. Remove all clutter and make it a habit to pick up clothing, shoes, and personal possessions each day for possible showings.

14. Empty closets of off-season clothing and pack for the move. Organize them to demonstrate the most efficient use of space. Leave as few items on the floor or shelves as possible.

15. Use light to create a sense of space. All drapes should be open. Turn on all of the lights throughout the home before a showing, and be sure to replace any burned out light bulbs.

Atmosphere

When placing yourself in the potential buyer’s shoes, you will want to consider the overall atmosphere of your home. Keep in mind your sense of smell as you go through the check list. Create the atmosphere of your home as a shelter, a place that is safe and warm, and in good condition.

16. A clean smelling house creates a positive image in the buyer’s mind. Be aware of any odors from cooking, cigarettes, pets, etc., that may have adverse effects on potential buyers. Remember that some people are much more sensitive to odors than others. Smokers rarely notice the odor of tobacco that fills their homes, and pet owners may be oblivious to objectionable doggy odor.

17. You can use products like carpet deodorizers, air fresheners, and room deodorizers; but the best strategy is to remove the source of the smell rather than cover it up.

18. Unfortunately, often the only way to remove the smell of pet urine from flooring is to rip up the carpeting and padding and replace them. If this is preventing the sale of your home, don’t hesitate to make this investment.

19. If smoking and cooking odors have permeated your home, have your carpets and furniture cleaned, and air out or dry-clean your drapes.

20. Mildew odors are another no-no. Don’t allow wet towels to accumulate in hampers or dirty laundry to pile up in closets.

21. Once offensive odors are removed, consider adding delightful ones. Recent studies have shown that humans have strong, positive responses to certain smells. Cinnamon, fresh flowers, breads baking in the oven are all excellent ways to enhance your property for sale.

Staging

This part of preparing your home for sale is the most fun and involves the use of color, lighting, and accessories to emphasize the best features of your home.

22. Study magazine ads or furniture showrooms to see how small details can make rooms more attractive and appealing. The effect of a vase of flowers, an open book on the coffee table, a basket of birch logs by the fireplace, etc., can make the difference in a room.

23. The use of a brightly colored pillow in a wing chair or a throw blanket on a couch can add dimension to a sterile room.

24. Soften potentially offending views, but always let light into your rooms. Replace heavy curtains with sheer white panels. Never apologize for things you cannot change. The buyer will either decide to accept or reject the property regardless of the words you say. Just present the home in the best way possible with complete honesty.

25. Go through your photo albums and select pictures of your house and yard during all seasons. If hung at eye level in a well-lighted area, the pictures will speak for themselves and give you yet another selling edge.

26. Take advantage of natural light as much as possible by cleaning windows, opening shades and drapes, etc. Add lamps and lighting where necessary. Be sure that all fixtures are clean and have functioning bulbs.

The Exterior: Check your home for any needed maintenance just as a buyer would. Repaint or touch up as necessary. You can’t make a better investment when you are selling your house! Don’t let the outside turn buyers off before the inside turns them on.

27. Color has the power to attract. A tub of geraniums, a pot of petunias, or a basket of impatiens on the front steps is a welcoming touch.

28. If you are selling during the winter months, consider using a wreath of dried flowers on the front door.

29. If you have a porch or deck, set the stage with pots of flowers and attractively arranged furniture.

30. Check to see that all doors and windows are in good working order. Give special attention to your home’s exterior doors and front entry. Clean and paint doors if necessary. Remember, first impressions are likely to color the remainder of the house tour.

31. Wash all windows and replace any broken or cracked window panes.

32. Screens should be free of any tears or holes.

33. Inspect all locks to ensure that they are functioning properly

34. Check for loose or missing shingles.

35. Invest in a new doormat that says “Welcome.”

The Yard

36. Make sure the yard is neatly mowed, raked and edged.

37. Prune and shape shrubbery and trees to compliment your house.

38. Consider adding seasonal flowers along the walks or in the planting areas. Plop the plants into a well-placed wheelbarrow, an old-fashioned washtub, or what have you. Such standbys as nasturtiums, petunias, impatiens, and verbena are easy to maintain if you only remember to water them regularly. Try a row of sweet smelling alyssum to line a short sidewalk or pop in some perky dwarf marigolds to form a cheerful oasis of color in your yard.

39. It is important to devote at least one area of your yard to outdoor living. Buyers will still recognize a scene set with picnic table and chairs and respond positively to it. Cover your picnic table with a fringed, red-and-white checked cloth, set out some plastic plates and glasses, bring out the barbecuing equipment, and buyers will almost smell the hot dogs cooking!

The Driveway

40. The driveway is no place for children’s toys. Not only are such things dangerous, but the clutter is unsightly.

41. The surface of your driveway should be beyond reproach; after all, it’s one of the first things a buyer will see when he drives up. Sweep and wash the driveway and walks to remove debris, dirt and stains. Repair and patch any cracks, edge the sides and pull up any weeds.

Room-by-Room Analysis

The Front Entry: Whether a gracious proportioned center-hall or a small space just large enough for a coat rack and a tiny table, this part of your home deserves your particular attention.

42. Study your entry hall and ask yourself what kind of impression it makes of your home. Dried flowers or a small plant can make a striking focal point on a hall table any time of the year.

43. Virtually any entry hall will benefit from a well-placed mirror to enlarge the area.

44. Your entry hall’s flooring will be observed carefully by the prospective buyer. Make sure the surface is spotless and add a small rug to protect the area during showings.

45. The entry hall closet is the first one inspected. Make it appear roomy. Add a few extra hangers. Hang a bag of cedar chips or a pomander ball to give a pleasant, fresh scent. Remove all off-season clothing.

Living Areas: Think of these areas as if they were furniture showrooms. Your job is to make each room generate a positive response. Add touches that make a room look truly inviting.

46. Sweep and clean the fireplace. Place a few logs on the grate to create an attractive appearance. You are welcome to have a fire going for showings during the winter months. . . it creates a great atmosphere.

47. Place something colorful on the mantel, but don’t make it look like

48. Improve the traffic flow by removing excess furniture. Have easy traffic flow patterns. Be sure that all doors open fully and easily.

49. Draw attention to exposed beams or a cathedral ceiling with special lighting. Be sure to remove any cobwebs and dust.

50. Remove oversized television sets if they dominate the room. If necessary, substitute with a smaller one until you move.

The Dining Room: Avoid going overboard. To be effective, any stage setting that you create should reflect the character of your entire home appropriately.

51. Set the scene by setting the table with an attractive arrangement. Add fresh or silk flowers as a centerpiece.

52. Visually enlarge a small dining area. If your dining table has extra leaves, take one or two out. Consider placing your dining table against the wall. Remove any extra “company” chairs. Consider putting oversized pieces in storage until your house is sold.

The Kitchen: Pay particular attention to your kitchen. This room continues to be the “heart of the home.” A pleasant, working kitchen is near the top of most buyers’ list of priorities and is a room that buyers always scrutinize closely.

53. Avoid clutter! Clean counters of small appliances and store whenever possible to maximize the appearance of work space.

54. Check the counter top around your sink, and remove any detergent or cleanser, etc., that may be cluttering the area.

55. Sinks, cabinets, and counter tops should be clean and fresh.

56. All appliances should be absolutely clean, bright, sparkling and shiny!

57. Clean off the top of the refrigerator! If you must use that space for storage, use baskets and bowls to camouflage the items kept there.

58. Set the scene with an open cookbook, a basket filled with fruit, a basket of silk flowers, or a ceramic mixing bowl and wire whisk.

59. Create the aromas associated with happy homes! Bake some cookies from premixed, refrigerated cookie dough, start baking a loaf of refrigerated bread dough, or pop a frozen apple pie in the oven.

60. In the heat of summer, place a bowl of lemons or limes on the counter to provide a fresh and pleasant aroma.

61. Clean and organize all storage space. lf your cabinets, drawers, and closets are crowded and overflowing, buyers assume that your storage space is inadequate. Give away items you don’t use, storing seldom-used items elsewhere, and reorganize the shelves. Neat, organized shelves and drawers look larger and more adequate for prospective buyer’s needs.

62. Large, cheerful kitchen windows are an advantage and should be highlighted as a special feature of your home. Take a critical look at the window treatment . . . is it clean, sharp and up-to-date? Do the curtains need washing or the blinds need cleaning? Would the window area look better without any window treatment?

63. If you have a counter top eating area, set two attractive place settings with coordinating napkins and placemats, and place cushions on the stools.

64. Set the table for an informal meal with bright placemats and a generous bowl of fruit as a centerpiece.

Laundry Room: A separate laundry room is a true asset and is one of the most frequent requests that buyers make during a home search. Don’t hide this treasure behind closed doors. Spruce up the room and open the door proudly for inspection.

65. Add a fresh coat of paint or put up a cheerful wallpaper.

66. Organize all closets and storage space.

67. Remove all dirty laundry. Keep current with your laundry or store all dirty laundry in a closed container (maybe even hermetically sealed and welded shut).

68. Clean and polish the washer and dryer.

69. Consider adding an attractive, coordinated throw rug.

Stairways: Stairways should provide an attractive transition from one level of your home to another.

70. Make certain the stairs are safe! Stair lighting should be more than adequate, stairs must be clutter free, stair railings tight and secure, and runners or carpeting tacked securely. Remove any items from the surface of the stairs and store elsewhere. Check the condition of the walls, and paint or re-wallpaper if necessary.

71. If the stairs are a focal point of the main living areas, carefully choose accents to improve the visual appeal. If you have a wide, gracious staircase, emphasize this feature by hanging a few pictures along the wall. Draw attention to a handsome lighting fixture by polishing the brass and dusting each small light bulb or crystal prism.

Bedrooms: Imagine for a moment that you’re in the “bed-and-breakfast” business. How would you change your home’s bedrooms to appeal to a paying lodger? Naturally, you’d make up the beds with your prettiest sheets and comforters. Maybe you’d add a vase of flowers on the dressing table or a cozy armchair in the corner. Every bedroom in your home should invite prospective buyers to settle right in.

72. Large master bedrooms are particularly popular among today’s home buyers. Make your bedroom larger. Paint the room a light color, remove one of the bureaus if the room is crowded, and minimize clutter to maximize spaciousness. Aim for a restful, subdued look.

73. A private bathroom off the master bedroom is a real sales plus. Decorate to coordinate with the color scheme of your bedroom, creating the “suite” effect.

74. Virtually all buyers are looking for a house with plenty of closet space. Try to make what you have appear generous and well planned. Remove and store all out of season clothing. Remove any items from the floor area. This will make a closet seem more spacious. Arrange all shelves to maximize the use of space.

75. Make sure all articles in the closet are fresh and clean smelling. When prospective buyers open your closet door, they should be greeted with a whiff of fresh smelling air.

76. Make sure all closet lights have adequate wattage and are operating. Add battery operated lights to those closets that lack them. Lighted closets look bigger, are more attractive, and allow buyers to inspect the interiors easily.

77. Take the time to explain the importance of marketing to your children. Encourage them to participate in preparing your home for showing, particularly the principle of appealing to the widest possible market segment. Ask your children’s cooperation in making their beds and picking up their rooms prior to showings. Consider promising a special reward if they willingly participate in your house selling goals.

78. Have them pack up any items that are not currently in use and dispose of unused possessions.

79. Remove any crowded, unusual, or personal wall hangings such as posters and store them until your home is sold.

Bathrooms: Wise sellers take special pains with preparing their bathrooms for scrutiny by strangers. The bathroom is a room after all, and a very personal one. Prospects will inspect yours carefully, so be sure it is immaculate. Cleanliness is the key! Make sure that all surfaces are spotless.

80. Replace worn or dirty shower curtains, clean and repair caulking, and remove non-skid bath decals that are in poor condition.

81. Clear off countertops and store all personal care products out of sight.

82. Repair any faucets that leak or do not function properly. Clean off mineral deposits with vinegar or commercial products.

83. Clean and organize all cabinets and drawers. Don’t forget the medicine cabinet: dispose of old prescriptions, and polish the shelves. The same goes for the storage cabinet under the sink.

84. Remember to appeal to a wide range of buyers. Play down dominant colors with contrasting neutral colored towels and accessories. If your bathroom is mostly white or neutral, add a few cheerful accents of color: use towels in the popular new shades. Don’t hesitate to buy a few new towels and a rug . . . you’ll be taking them with you to your new home.

85. Scrub and wax an old floor. Cover the largest area you can with a freshly washed scatter rug.

86. Decorate and personalize to create a pleasing, individual look. Consider bringing out your best towels and perfumed guest soaps. Add a plant for color and freshness.

87. A gentle hint of fragrance in the air is fine, but keep it subtle.

Garage

88. Sweep and wash the floor to remove dirt and stains. Organize tools, garden equipment, bicycles, etc. A clean, organized garage appears larger.

89. If the area is dark, add more light. If it is small and accommodates only one car, remove your car before buyers visit. An empty garage always looks larger. If you have a two car garage with very little extra room, remove one of your cars so that buyers can make their inspection in comfort.

90. Get rid of anything that you don’t plan to move to your new home. Place remaining stored material neatly in boxes, and position away from walls.



Wednesday, September 10, 2014

Staging your home for a faster sale, and higher price!


Fran Freedman took down the family photos and most of her artwork. She had the fence in the front yard ripped out, and she got rid of half the clothes in her closet. And that was just for starters. She wasn't redecorating. Rather, she was "staging" her house for a potential home buyer.
With 3.75 million homes on the market — a 7.3-month supply — sellers must work harder these days to attract buyers. Yet oddly enough, the trick to making your home stand out is often to make both the interior and exterior look generic, almost bland. And that's where home staging comes in.
"The philosophy is the buyer must be able to picture themselves living in your home," says Freedman, 65, a lawyer in Philadelphia. "They don't want to see your family photos and your artwork. The décor should be understated so they can say, 'This would be the perfect place for my...' "
Does it work? When Coldwell Banker Residential Brokerage in Los Altos, Calif., looked at nearly 2,800 properties in eight U.S. cities in 2004, they found that the staged homes, on average, sold in half the time that the non-staged homes did. The sellers with staged homes ended up with 6.3% more than their asking price, on average, while sellers with non-staged homes sold for 1.6% more than the asking price.
The cost of hiring a company to stage your home tends to range from $1,800 to $3,800 but can go much higher, depending on the size of the house and the amount of work involved.
Freedman says Tailored Transitions, the company she used, "had a hard time convincing me and my husband to spend the money. People don't spend money on this kind of thing. I'd never heard of staging."
In the end, they spent $2,500 for the interior, $4,000 for the exterior, $500 to rent "props" like less eye-catching artwork and decorative pillows and $500 to move their excess furniture and boxes into storage. In hindsight, she says, it was worth every dime.


They listed their home this month for $949,000, and Freedman says, "I don't know if we would have priced it that high when it wasn't so attractive."
Judee von Seldeneck put her staged home in Philadelphia on the market this month; it sold in one day, for $700,000.
From moving shrubs to planting flowers, to replacing the knobs on kitchen cabinets and ripping up the carpet on the stairs, every change was made to accentuate the house's best features. There were even pumpkins on the porch to lend a homey, inviting look.
Inside, the stagers "put furniture that looked comfortable but not too heavy, not cluttered," says von Seldeneck, CEO of an executive search firm, who's "in my 60s." The books on shelves, colors of the rug, the furniture — all were "geared more toward younger people."
She spent $8,000 on the job and says, "It was the best money I ever spent."
Short of hiring a company to do the work, there are some simple steps any seller can take to stage a home:
•Cleaning. The house should be Q-tip clean. Every surface should sparkle; every groove should be dirt-free. And above all, wash the windows.
Clutter. Pack up family photos, stacks of paper, medicines on the bathroom counter, the books overflowing the bookcase. Hide trash cans, ashtrays, the laundry hamper, the kitchen sponge, the cat's litter box and food dishes.
"Clutter eats equity," says Barb Schwarz, the self-proclaimed inventor of home staging and author of Home Staging: The Winning Way to Sell Your House for More Money.
•Color. Dark walls make the house look smaller. Walls should be off-white, or have earthy tones if the room has lots of light. Ideally, the carpet would be "real estate beige." Open or take down the curtains, so the rooms will have as much light as possible. Leave on the lights in darker areas.
Focal point. To think like a professional stager, stand at the doorway of each room. What features do you want to accentuate? Where's the focal point? (A room should have only one.) So if you have a fireplace and a big-screen TV, take out the TV. Arrange the furniture so the eye is drawn to the focal point.
•Furniture. Most rooms have too much furniture, which makes rooms look smaller. Reduce the number of pillows on the couch to zero, or have an odd number like three. Remove afghans and blankets. Reduce the number of paintings on the walls.
•Dining room. Take out the leaves from your dining table and put no more than four chairs around it. Set the table as if for a meal, and put an appealing centerpiece in the middle. Reduce the number of dishes in the china cabinet, leaving only a few.
•Kitchen. The exterior of the refrigerator should be bare. Store any appliances you don't use daily out of sight. Hide the trash can, and put the sponge and soap under the sink. You can spruce up an outdated kitchen simply by changing the knobs and hinges.
•Master bedroom. Buy a new bedspread, if necessary. Clear off bedside tables and chests of drawers. Hide the alarm clock. For the closets, pack up any clothing you're not using this season. It'll make the space look larger.
•Bathroom. Replace bar soap with liquid. Coordinate all towels using one or two colors. Fold them in thirds and hang them neatly. Clear everything out of the shower except for one bottle of liquid soap and one bottle of shampoo. Clean or replace the shower curtain. Make sure all grout is clean and in good condition. Remove all cloth toilet lid covers, and keep the lid down. Hide the trash can.
•Outside. Keep the lawn mowed and the edges neat. Trim shrubs, especially around windows. Put flowering plants near the front door. Does the house need painting? Consider painting or staining the front door; it's one of the least expensive ways to spruce up the entry. If there's furniture on the porch, make sure it isn't plastic but rather good wicker or wrought iron. Power-wash or stain the deck. Remove or hide old cans and bottles, auto parts, boats and RVs.
"When you start staging your house, emotionally, you need to say goodbye to your house," says Starr Osborne, CEO of Tailored Transitions in Philadelphia, the staging firm Freedman hired. "It's like hotel living. It's not a comfortable experience, but your home will sell more quickly and for better money."
The de-cluttering process is "one of the biggest challenges we find," she says. "Sellers feel it's an indictment of the way they live. You have to remember what you're selling. You're not selling your taste; you're selling tastes the buyer wants to see."
Freedman recalls it was "kind of traumatic" when all her family photos were packed away. Another tough moment was when she stood in front of her closet, wondering what she could throw out.
But in the end, Freedman says, the process was "cathartic." "It made us realize we had too much," she says. "When we move, we won't use it all."



www.mvprealestategroup.com

Wednesday, January 22, 2014

Arts District Could Get Two New Red Or Purple Line Rail Stops

2014.01_adstops.jpg 
As the Arts District's star has climbed over the past several years—hot restaurants, million-dollar condos, high-end development, even a park—there's been only one thing holding it back: It's pretty damn annoying to get to. And now Metro CEO Art Leahy is looking to fix that, asking staff to look at new rail stations at First and Sixth Streets along already-existing track that runs between Santa Fe and the LA River, from Union Station. He tells the Downtown News the stops could connect to either the Red or Purple Lines. (The under-construction One Santa Fe project at First Street sits on Metro land and there's long been talk of putting a station there, since it's also close to the Red/Purple maintenance yard.) One active neighborhood developers points out that a stop at Sixth Street would be particular great because it would let out right by the future Sixth Street Viaduct replacement, which will be friendly for bikers and pedestrians and surrounded by open space (and create an easy hop to or from Boyle Heights). Leahy made the request about two months ago and staff will check out "costs, location and initial designs." A proposal could reach the Metro board within a year.

Wednesday, January 8, 2014

New Wilshire Grand Renderings Show Sky Lobby And The Highest Rooftop Pool On The West Coast

          

The 1950s-era Wilshire Grand hotel has been completely demolished and construction on its 73-story office/hotel/retail skyscraper replacement has begun (see last photo). Now we have new renderings (via broker/blogger Brigham Yen) of the tower by architect AC Martin—these have not yet been approved by developer Korean Air—including many of the seventieth-floor sky lobby, to which guests will shoot up in an express elevator before checking into their rooms (very Lost in Translation). The renderings show a spire that can change color to reflect holidays and observances, and a rooftop pool that will be the highest on the West Coast (an "outdoor living room" is also planned). The hotel will be four stars and have 900 rooms, run by an operator to be announced soon—choices have narrowed down to two; rumors indicate it'll be a Grand Hyatt or a Waldorf-Astoria (!!). The tower should open in early 2017.
                      
Sky pool deck 
    

Outside the hotel lobby at Seventh and Fig 
    

Inside the hotel lobby 
    

Ground-floor lobby 
    

Sky lobby seating 
    

Bar at the sky restaurant, above the sky lobby 
    

Sky restaurant 
    

Cross-section of the top floors

Friday, January 3, 2014

The Top Ten Real Estate Trends for 2014

Millennials are moving the market, but not as homeowners

Though the so-called Millennial generation has been much-maligned in the media, real estate movers and shakers are increasingly interested in where this generation is headed -- quite literally. A number of the cities have seen increased economic activity in the real estate sector led by this generation, particularly Austin, Seattle, Portland and the Twin Cities in Minneapolis.

Minneapolis' place as number nine on a list of the top 10 cities for developers came as a surprise to Andrew Warren, director of PwC, a research and advising firm that co-authored the report with ULI.

"This is a city that's attractive to younger generations," he said, adding that its diverse economic base is helping to bring in a lot of college grads that don't want to leave the Midwest.

However, this same group isn't forming new households, and they're not buying as many homes as their parents' generation were at their age.

Second-tier cities will lead the recovery next year

Investors, developers and builders are losing some interest in the so-called 24-hour gateway cities -- San Francisco and New York City -- and have developed more interested in cities like Dallas and Portland, where there are more housing deals to be had.

For example, in 2011 only New York City and Washington, D.C. had good prospects for real estate investors and developers, according to the ULI report, but now Austin, Boston, Dallas, Houston, Miami, Orange County, Portland, San Francisco, San Jose and Seattle make that list -- and D.C. actually dropped out.

Real estate recovery still hinges on job growth

The slow pace of job growth as well as income and wage growth is still holding back the real estate recovery and that's not likely to change quickly.

Many cities in the Bay Area and in Texas have seen strong housing recoveries based on the strength of their economy, said Stephen Blank, ULI senior resident fellow for finance, so places with low unemployment can expect better recoveries next year, while places still haunted by economic issues won't.

The "smile investing" philosophy is back

Real estate developers are interested once again in a so-called smile investment philosophy, Warren said. According to the philosophy, developers and investors start looking at cities in the Northeast and moving south to cities along the Sun Belt -- Florida, Texas, Arizona -- and then coming back up to the Northwest -- Northern California, Oregon and Washington state. So expect to see more activity in those areas than in the Midwest.

Multi-family apartment building will wane

With rapidly rising demand for apartments during the recession -- boosted by increased demand from homeowners-turned-renters -- multi-family building surged. But that's likely to quiet down in 2014, as supply and demand have swapped places -- and there may actually have been too much multi-family building in 2013, Blank said.


Condo development is still on the back-burner

The recovery in the condo market hasn't matched that of the single-family market, and developers aren't willing to take the risk on putting up new condo buildings.

Instead, builders and developers are taking a dual-track option: They build a rental apartment building with an eye on switching it to condos in 12 to 16 months, depending on market conditions, Warren said.
High-end apartment buildings are also proving problematic for developers, as the interest from well-heeled potential renters simply hasn't been consistently strong.

Inventory is coming back

The experts at ULI are predicting that 2014 will be the last year that low inventory will aid property prices. Distressed inventory is drying up and sellers are looking at better profits than they have in years.

The buyer's market is long gone

Homes right now are priced to please sellers. "For buyers, they're priced to disappoint," Blank said.

Sellers now know they can squeeze buyers eager to buy before interest rates and home prices shoot up even further.

Shadow banking is emerging

There's optimism among those surveyed by ULI that lending standards will loosen next year, but Blank isn't as sure.

To fill the void, a concept called "shadow banking" has started to emerge and may take on a larger role in the lending market next year. Shadow banking is similar to traditional bank lending, but it's done outside banks and can therefore get around bank regulations.
Borrowers going this route will find a hodge-podge of private funds, wealthy individuals, family offices, and refugees from other lending markets, according to the report.

The suburban is going urban

There's not a lot of interest in developing suburban areas, Warren said. But where there is, it's surrounding more urban-minded projects located in spots where amenities and public transportation are easily accessible.

Tuesday, December 24, 2013

18 Photos Of LA Decorated For Xmas In the '30s, '40s, & '50s

    

Didn't all the Christmas light displays look so much quainter in the olden days, juxtaposed with Studebakers and GIs? Maybe it's just that a place could be known far and wide back then as the Christmas House with not much more than some fake snow, a few lights, and a cut-out Santa. Maybe it's that Claudette Colbert was around to get in on the action. Whatever it was, it sure is nice to look at. Enjoy these photos of Los Angeles dressed up for Christmas in the 1930s, '40s, and '50s, and Merry Christmas, if that's your thing!

Tuesday, December 17, 2013

12 Strategies for Hosting a Sucessful Open House

“You don't need a golden toilet. You just need a working toilet,” said Holly Sose, of City Connections Realty. “Any wild shenanigans are just that, shenanigans. … The market will always dictate a trade price. No amount of gorgeous models dancing in bikinis or catered sushi is going to do that for you.”
Once a seller figures out the right price, it may take some weeks to prepare a home so it looks ready for a showing. Here's how:

1. De-clutter your home
“Buyers want to envision themselves in the home, and it’s difficult to do so if your clutter is in the way,” said Shannon Aalai, of CitiHabitats.
Cleaning out closets is especially important since many city house hunters are obsessed with closet space and will surely open all doors, she said.

2. Add a fresh coat of paint, and fix anything that’s broken, especially if it’s squeaky.
"When people walk into an apartment they’re nitpicky and want to find something wrong even if they like it," Aalai said.
So, make sure everything is in working order, including light bulbs.
Vik Kukar, of Rutenberg Realty, recalled one open house where a broken dishwasher handle turned off prospective buyers.
“You’re really trying to create emotion when you walk in,” he said. “You don’t want anything to break that positive emotion.”

3. Stash your honeymoon photos and hide your doll collection.
“Take down anything I tell you is offensive or weird, and remove anything personal,” Aalai said. 
The goal is to keep the focus on the apartment. 
“Your dog is cute but we don’t need to see [it] in every photo," she said. "People are easily distracted. They look at the photos, and say, 'That’s a cute couple, that’s a cute baby.' They’re more interested in [the sellers’] lives.”
When taking a couple to look at a SoHo loft, Aalai heard the prospective buyers talking nonstop about the series of “creepy” collage boxes hanging on the wall instead of chatting about the home.
“The husband said you’ll never get rid of that energy,” she recounted.

4. Consider using a professional to stage your home.
It could cost anywhere from $4,000 to upwards of $25,000 to have your apartment staged, but there could be a big payoff, Kukar said.
“It’s often going to have a 300 percent return,” he said, especially if a home has no furniture.

5. Give your agent ample access to your house.
“Allow open houses, and let brokers show the property after work and on weekends,” Aalai said.

6. Target your outreach.
Teplitzky stressed the importance of “building momentum” by listing a home in different outlets, online and elsewhere.
Sometimes her agents will do mailings in the neighborhood to increase the number of people showing up.

7. Don’t be home for showings or open houses.
“Buyers are never honest in front of sellers, and frankly it often makes them uncomfortable,” Aalai said.

8. Be prepared for possible questions.
Make sure whoever is hosting the open house knows where to find the nearest gym and grocery stores and the closest subway and bus stops. Make sure they know what, if anything, was renovated and when, and whether walls can come down or be put up, Kukar said.

9. Get a cleaning service.
“People will notice if it’s dirty,” Aalai said, especially in bathrooms where prospective buyers often turn on faucets and use toilets.
“They move the shower curtain when they want to turn the water on, so make sure there’s no hair in the tub,” she said, also advising sellers to make sure there’s soap, and the good towels are hanging.

10. Take the dog or cat out; hide litter boxes and feeding bowls.
Not all house hunters are animal lovers.
“If a dog is there, sometimes people are worried about the dog jumping on them, and they’re freaking out,” Aalai said. “And with cats, a lot of people have allergies.”

11. Add simple, nice touches.
Aalai likes to bring flowers or set out a bowl with lemons or pears.
Teplitzky likes to offer little bottles of cold water or fruit in the heat of summer.
Sose likes to put on music.
“Music makes everything better,” she said.

12. Make sure the house doesn’t smell.
People often get accustomed to their homes' odors, said Aalai, who will often light a scented candle in the bathroom.
Many brokers will open windows before a showing to let it air out.
Kukar gently lets sellers know not to do any heavy cooking an hour or so before a showing. He remembered an open house where a family had just cooked a pot roast.
“It smelled good, but it was too much,” he said.
“Apartments are sold on emotion,” Kukar said. “The agent is the director of [a movie called] ‘Selling This Home.’ We’re trying to produce these strong feelings of joy, hope and happiness.”