Real Estate

April 13, 2010

Staging Houses in Real Estate Investing

Nick Cifonie asked:




Three years ago, houses were selling fast. Anyone could get a mortgage, and interest rates were low. Now interest rates are still low, but it's hard to get a mortgage. So, you do have to take a little more time to sell your houses.

Now, there are some types of deals that you might want to stage, and some you might not have to. For example, wholesale deals where you sell to other investors, those you probably don't have to stage as well. Of course, you do want to make them look good so it looks like it won't need so much work. An experienced rehabber will know what he's going to have to do, anyway, after walking through the house.

The houses I am talking about are the ones that you are selling to the public, a retail buyer who is going to move in and buy the house. If you have a house that you are putting up for auction, or you have a house that you have an option, doing a retail flip, or if you are a rehabber and you just renovated a house, and you want to make it look good to sell, you might as well make it look the best it can.

When you are staging a property, you always want to appeal to the senses. You want to make it smell, sound, look, and feel good. A home is a home. It has to be warm, comforting, and inviting.

First, let's talk about what you see. The kitchen and bath are especially important to the ladies. Everybody knows that the kitchen and bath are usually what sells a property. Put some towels up, hang them on the racks, fold a towel and leave it out by the sink. Put some bowls or wooden spoons out on the stove. In my smaller properties, I leave a box of dishwasher cleaner on top of the dishwasher, put some detergent by the sink, make it look like you have taken the extra care to make sure the place is clean. Appeal to their senses in the kitchen. Decorate it a little bit so it's not a big long empty countertop area. Maybe put a little rug in front of the sink, so it feels a little bit warmer. In the bathroom, do the same thing, put a little rug in front of the sink, as well in front of the bathtub. Hang a shower curtain as well, as well as putting towels in there. Also, make sure there is toilet paper on the roll. You can also put some handsoap and perhaps a cup on the sink. You want to make it look inviting.

On the front porch, it's a good idea to put a welcome mat out, as well as a little throw rug in the foyer, perhaps. If there are sliding doors in the kitchen, it might be a good idea to put a throw rug in front of the doors.

As for the living areas, if you have a fireplace, it might be a good idea to put a picture frame on the mantle with the picture that comes with it. Fireplace tools are a good idea as well. It makes them imagine what it would be like with a nice warm fire going, while sipping a cup of tea. A fake plant or two by the fireplace or other living area space would be great as well. Buy some neutral rug runners and you can put them in a long hallway in the house. You don't want them hearing an echo in a long hall. It sounds and looks better. If you have some extra pictures, hang some big pictures up as well.

In the bedrooms, I don't do a lot, but here are some tips. For the kids' rooms, you can find those rugs with kids' designs on them, perhaps a basketball-type one for the boys' room and leave a basketball there, or even go with a baseball theme. For a girls' room, you can put a Disney princess-type rug down and place maybe a rocking chair with a little crown on it, it would really make it look inviting. And when the kids check out those rooms, they come out asking if this room can be theirs. You want them to assume what it would be like if they were living in their house.

As far as furniture goes, there are many options. You can go ahead and fill the whole house, if you like. You can go to Court Furniture or Aarons, as well. If you want to put a bed in the master bedroom, that would be great with throw pillows and end tables and a lamp. For the living room, you can put in a couch with a table and a lamp on either side with a matching chair is excellent. For the dining room, a table with 4 chairs and maybe some flowers in the middle, that would be great. I know it's some extra work, but these companies will come out and set it all up for you. When you think about it, $499 or $500 a month is less than making additional mortgage payments. You want people to imagine what it would be like living there.

To make it sound better, you can also put a radio upstairs and downstairs with the same station on with some inviting music as they are walking through. During an Open House or when you know people are coming over, brew some coffee and perhaps make some cookies so it smells like home.

Open all of the blinds and turn on all of the lights so that it's bright, airy, and open. If it's a nice day, open the windows a bit so that they can hear the birds and nice outside noises. It helps to make a nice overall feel to the house.

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January 26, 2010

How to Stage Your Home For a Quick Sale

Nelsy Caliendo asked:




Staging your home for a quick sale, is as important as picking the right realtor to represent your home. It is imperative that your home appears clean,warm, and inviting. This peaks the potential buyer's curiosity giving them the desire to see more of the house as they move from room to room. Proper staging and tasteful decor is what could make or break a deal.

Depending on the condition of your home, you may or may not have your work cut out for you. If your home is an older home, or has been neglected, it is important to make major repairs, especially to any holes in the walls, water stains on ceilings, etc. Everything that is visibly broken or extremely worn should be fixed or replaced.

Once all of the obvious problems have been remedied, take a look at your walls. Do they have hand prints, food splatter, and dirt all over them? Try wiping the walls gently with baby wipes or a warm soapy cloth . Remember to clean the doors, light switches, and trim as well. If the job is too big, or wiping doesn't work, consider a new coat of paint in a neutral color. Nothing freshens up a house more than a new coat of paint. By choosing neutral colors, the potential buyer will feel like they have options when it comes to decorating their new home in their own style and taste, without an added expense.

Once the house has been repaired, and the walls are bright and clean, its time to declutter. People tend to feel claustrophobic or tense when a house is dirty and messy. You will want to give the appearance of spacious counters and shelves, so leave the bare minimum on dressers, desks, counters, and shelving. Dress up long tables and dressers with runners. Fresh flowers, bowls filled with fruit, river rocks, lemons and or limes are always a nice earthy touch. Be creative, anything goes, as long as it looks good.

Ample closet space is always very desirable. All closets should be neat and fresh smellling. Now is the time to get ride of anything you do not want or need. A good rule of thumb is, if you haven't touched it in a year, you won't miss it when it's gone. Organize shoes by type in an organizer or on the floor. Hang all slacks together, short sleeve shirts together, etc. This will help the closet look roomy and tidy. Be sure all beds are made. Throw pillows on the bed give the room a luxurious look and feel. Night stands should have only necessities such as a clock, phone and lamp on it. A stack of two or three hard covered books are a nice touch. If the lamp is not too tall, you can set the lamp on top of the books. Everything should be picked up off of the floor. Remove any piles of "stuff" from the corners, this will only detract from the space and the whole appearance of what should be a relaxing sanctuary.

In the kitchen make sure counters are wiped clean and not cluttered with appliances, baskets, toys, etc. Again, you want to convey a spacious work environment. Appliances should be wiped clean inside and out. One never knows who will be opening them up for a little look inside.

The bathrooms should be clean, have matching towels, and clutter free counters. The commode and shower should be wiped down, especially the floor around it. Set up some candles and you will be all done in there.

Before showing your home consider have the carpets cleaned. Although it's an easy fix, dirty carpets are a BIG turn off to potential buyers. Vacuum rugs, mop the floors, and dust the furniture as often as possible or as needed to ensure that the house comes across as being cared for. Lighting candles and spraying rugs with foam carpet spray gives the house a fresh smell prior to a buyer's arrival.

Don't forget about the outside. The front of your home gives off the very first impression. It's the cover to your book. The walkway and driveway should be free of bicycles, skates, gardening tools, etc. Plant flowers to add color and curb appeal. If you can not afford to add flowers, a potted plant or two along with a nice welcome mat will do the trick. Mow the lawn, and edge as needed. Keep trees, plants, and bushes pruned. Keep the flower beds free of weeds. The same applies to the backyard.

With some time, effort, and creativity, you can make your home a show place you will be proud of.

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