If you watched or read our latest Denver Metro Area Market Report, you know that although the market is still very strong, we have definitely hit a seasonal slowdown....Days on Market is up, prices have leveled out, and it's starting to feel a bit more balanced out there. After several months of homes selling within hours and with multiple offers, it's feeling like the frenzy might calm down for a while -- and we think that's a good thing. Buyers will be able to take a deep breath and really give careful consideration to a home before writing an offer. And sellers are starting to realize that they need to shine the best light on their home in order to sell quickly and for top dollar.
We asked Live Urban agents Stacey Rohrer and Annette Knutson (also a professional stager for It's Showtime Staging) for their thoughts on this market shift and how they used staging to successfullly sell this home in Denver's Sloan's Lake neighborhood....
Live Urban: Congratulations on your contract for your cute rowhomein Sloan's Lake! We noticed that it had been on the market for a few weeks before being staged, and then went Under Contract shortly after it was staged...do you think that was a just a coincidence, or do you think the staging and updated photos played a factor?
Stacey: The staging made a huge difference, I knew it was a great property but our initial photos were not giving the home the justice it deserved. The homeowner was renting the property at the time and it felt more transitional. Once the tenants moved out, my seller updated some appliances, refreshed the paint and spruced up the curb appeal. We brought in Annette to stage and provide distinction and maturity to the rooms. It really shined and felt like a home once all was said and done.
Live Urban: Annette, when Stacey asked you to style the home, did you have a specific style or strategy in mind? What are today's buyers looking for when it comes to decor and lifestyle?
Annette: After completing my initial consultation at thehome, I came up with a staging proposal that incorporated a living and dining area into this small space. Today's buyers are looking for open concept living and need to visualize, especially in small spaces, that they can fit a dining table along with their living room furniture into that space. I also made several suggestions to the seller...paint over a mural in the kitchen, update the curb appeal and some maintenance items.
Live Urban: I think that some agents and sellers don't think that it is worth the time, effort, or money to stage a property for sale, especially in a "Seller's Market"...what would you tell them?
Stacey: With things moving so fast, you can trick yourself into thinking you don't have to do much to get multiple offers. But the first step is getting buyers in the door. Buyers are looking at homes on the internet, they want to see photos. If your home isn't presenting well, it is a missed opportunity. Staging is an investment to show the house at it's best and create demand - that translates to more money in your pocket at closing.
Annette:It is extremely important to stage in a "Seller's Market". In a "Sellers Market" more buyers are chasing fewer homes for sale. Homes sell quickly and often above asking price. You owe it to your sellers to encourage them to do what they can to blow away the competition. It feels great to get a bidding war going because your client's staged home is presented so much better than everything else in their price range. Home staging is an investment in getting a higher return for your clients when they sell their homehot market or not!
Live Urban: After staging the property and having it re-photographed by a high-end architectural photographer, did you see an increase in showings right away?
Stacey: My seller and I were pretty blown away by the new photos. You wanted to be in that house, to live in that house. We went from one showing the week before to five in the two days after publishing the new photos. Our photographer showcased the home - rather than the rooms feeling segmented, he was able to emphasize the flow and function of the space.
LiveUrban: Annette, are there any trends that we should be watching for as far as colors and accessories that you think really make the difference right now?
Annette: Staging a home for sale is so different than following the "trends" that you would incorporate into the home that you live in. When staging a home for sale, it is more about neutralizing, so buyers can picture themselves and their furniture in that space.
Live Urban: Any tips for our readers who would like to improve their property's value through staging or cosmetic upgrades but are on a tight budget? Are there must-have's or must-do's that tend to give Sellers the biggest "bang for their buck"?
Annette: Every seller should have a staging consultation, before putting their house on the market. They will receive valuable information on how to get their home "showing" ready, whether it is lived in or vacant. Painting, de-cluttering, curb appeal and a little maintenance go a long way!
Live Urban: As we head into Fall and Winter, we are seeing homes sit on the market for a bit longer, sell for a little less than list price, and showings have slowed down considerably. What can Sellers do to make sure that their home still sells quickly and for top dollar?
Stacey: Don't take the market for granted. Yes, inventory is still low but buyers are savvy and patient. They want to know that the home they are buying is worth what they are willing to pay. Invest in your home before putting it on the market. A staging consultation goes a long way a neutral party can offer some outstanding tips on how to best show your home's assets; and a great photographer can highlight those assets. And last but definitely not least, do your homework, look at comparable sales, visit the competition and price your home competitively. All of these steps will draw buyers in and lead to a quick sale!
Live Urban: Thanks ladies, and great job on a successful transaction!
Check out more Before and After photos....what a difference fantastic staging and photography can make! If you have questions or would like more information, don't hesitate to contact Stacey or Annette...they would love to help you with anything that you might need.
Exterior Before:
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