As the year is quickly coming to a close, many people are taking advantage of low mortgage rates, even despite mixed reports for jobless claims.
Summary: Homeowners in Oregon who are looking to sell their home may want to consider staging. This article discusses the benefits of home staging and provides several tips for homeowners who may be interested in staging their home.
Are you planning to sell your Oregon home some time soon? If so, you obviously want to sell it for the highest amount possible. And home staging can help you do just that.
“Staging” a house means preparing it for sale in ways that make it more attractive to potential buyers. Homeowners in Oregon can do much of this staging work themselves and can do this staging better when they reach out to their real estate agent for suggestions. They can also hire a professional to do the staging work for them. If you’re looking to sell your property in Oregon, staging may be an excellent way to sell your property at a quicker pace and for a greater price.
A study of 4,200 sold homes, conducted by Home Staging Resource (HSR), found that 85% of the staged homes sold for 6% to 25% more than a home that was not staged. This study was nationwide, but there’s no reason to suppose that these figures will be markedly dissimilar for sellers located in Oregon.
Forbes reports that 95% of staged homes sell in 11 days or less. This is 87% faster when compared to the time it takes, on average, to sell a home that is not staged.
An average home sells for 10% to 20% less than the asking price. It may be even more beneficial to stage a home that would otherwise have to sell as a “fixer-upper.” When listing a home, which is in disrepair, the asking price must be at a steep discount from the market value of a similar home that is in a better condition. If you properly stage your fixer-upper, this discount may not have to be quite as steep as it would be otherwise.
The general rule-of-thumb is that every $100 dollar invested in staging may return up to $400 in a higher sales price. This is a very good return. Any time you can spend $1 and receive $4 in return, a 400% return, you should consider this a fantastic opportunity. Compare this to typical returns in the stock market or bond market, for instance.
The National Association of REALTORS® published the 2017 Profile of Home Staging, which says the staging priorities are:
- Declutter: Decluttering a home creates more open space, and this open space makes the home look bigger. Remove at least half of the items in the home and two-thirds of the stuff in the closets. De-personalize the home by removing photos, kid toys, items for pets, etc.
- Cleaning: The entire house needs to be immaculately clean, inside and out, to the level of a five-star hotel.
- Carpet Cleaning/Replacement: Carpet needs to look and smell like new or it should be replaced.
- No Pets or Children: Do not have children or pets in the home when showing it to potential buyers.
- Renovations: Repairs, re-painting, and re-decorating should be done tastefully and by using neutral colors that appeal to most people.
- Rooms: Priority staging concentrates on these rooms, in this order: 1) Living Room; 2) Kitchen; 3) Master Bedroom and Bath; and 4) Dining Room.
- Vacant Home: A vacant home will probably sell much easier when staged using rented furniture.
Staging a home for sale makes perfect sense and is worth the investment of time, energy, and money. Staging your Oregon home can yield many benefits. The benefits are that the home usually sells for a better price, probably sells more quickly, and the investment in staging usually makes a profit for the home seller. Your real estate professional is available to offer guidance in selling your home quickly for a great price.
Reach Out to Sammamish Mortgage
Along with a real estate agent, the mortgage professionals at Sammamish Mortgage may also be able to offer guidance in this area. Our mortgage professionals have a wide breadth of knowledge related to real estate. Our expertise is not limited solely to the mortgage acquisition process, but to home staging, advertising, and other aspects of the home selling and home buying process.
If you need counsel in this area or any other area, reach out to Sammamish Mortgage today. Sammamish Mortgage is a family-owned mortgage company with strong roots in the Pacific Northwest since 1992. We offer a variety of mortgage programs at competitive rates to customers in WA, OR, ID and CO. Contact us to learn more!