Quick Staging Tips to Help Sell Your Home

If you are getting ready to sell your home, or your home is already on the market, here are some tips to quickly stage your home to make it more appealing to a buyer.

Most of the tips are courtesy of Barb Schwarz of Stagedhomes.com , and realtor.org, the National Association of REALTORS(R) website, some are mine:

1) DECLUTTER!

• Take everything down from the fronts and sides of the refrigerator. Counters in kitchens should be cleaned of all unnecessary things, like papers and appliances you do not use on a daily basis.
• Bathroom counters should be clean of everything except your toothbrushes and soap. Towels should be in only one or two coordinating colors.
• Remove most personal photos. People need to imagine their family there.
• Take most decorative items down from furniture. Keep only 1, 3, or 5 things in a group in each area. This includes pictures, candlesticks, pillows, and other small items you may have on side tables and mantles! (The odd # grouping has been shown to be more appealing to the eye).
• This one isn’t on the list, but it is a big one on mine. CLEAR OUT YOUR CLOSETS. The more stuffed your closets are, the more people feel there must be a storage issue. Whatever season you are in, leave that set of clothes. All others should go in boxes. The linen closet should only have the extra set of towels you will need, the one or two bottles of shampoo, soap, etc you should need while your house is on the market. Storage closets can have larger items in them, but should NOT be stuffed to the gills!

2) RENT A STORAGE UNIT

• Take out unnecessary furniture. The extra chair, the ottoman, the side table you don’t use. Less furniture makes a room feel bigger.
• Boxes should go in the unit. People understand that you are moving, but you don’t need the mounds of boxes to prove it. (Those decorative items you removed earlier? The clothes & “stuff” from your closets? Hopefully you put them in boxes. Put the boxes directly into the storage unit, so they are ready to go to your next home!)

3) REHANG PAINTINGS & PAINT WALLS

• Some of your paintings/pictures/etc might need to come down to open the room up. This may mean rearranging some as well, which will show the walls in their natural state, which means you will most likely need to paint.
• Paint colors are very personal. If you have bright or strong colors, you may want to consider making those rooms more neutral.
• Touch up paint in rooms where there may be little nicks or scratches marring the paint. You want to look fresh!
• Repainting throughout is almost always a big plus. Fresh paint puts a fresh face on your house!

4) WHEN YOU HAVE SHOWINGS

• Have some music on — Light FM is best — when I was showing homes this weekend, we were struck by how nice it was to have the music going in one of them.
• Leave all lights on. Yes all. Are you wasting electricity? Yes. Is it worth it? YES. Your home *hopefully* shows best when it is brightly lit. Let people see it in top notch condition!
• Make sure you are NOT HOME. Allow for extra time before and after the showings so you don’t leave late and don’t come home early. People will feel rushed and uncomfortable.

5) OUTSIDE

• Make sure gutters are clean and there is not any mold, mildew, rust or any major marks outside. If necessary, have the house power washed.
• Get rid of the *stuff* — the toys, the wood stacks, the forgotten piles of leaves.
• Have nice plants around the property — in the flower beds, etc. Make sure they are well maintained and not overgrown, nor dead!
• Paint window and door trims if necessary. Again, fresh paint = fresh face! If most of the exterior is looking worn and it is a painted house, PAINT IT!

I hope these tips help you in staging your home to a successful sale. If you would like more information on your Towson house value, please contact me today!

Top Four Inside Secrets To Selling Your Home in This Buyer’s Market

Gary Keller, the owner of the company I work for, Keller Williams Realty, was interviewed this morning along with a few agents on Good Morning America about HOW to sell your home in this market.

These tips hold true in the Towson real estate market as well as others across the US.

Tip #1: When Pricing Your Home, Don’t Try to Make Money. If a similar house down the street is on the market for a certain amount, list your home just under that amount. Buyers will perceive your home as a deal, and will more likely move on yours versus others on the market.

Tip #2: Don’t Be Lazy When It Comes to Presentation. Staging is a great way to get your home to look its best. Remember, once you decide to sell your home, it is no longer *your home*. The goal is for it to be someone else’s! A Staging Professional is a good investment along with a REALTOR(R). As Gary Keller said, “Price gets you interest. Staging gets you offers.”

Tip #3: Some Photos are Priceless. When listing in winter, especially when you have feet of snow still to melt like here in Towson, share any photos you have of the yard, landscaping, etc, from when it is nice out with your real estate agent. Your agent can incorporate these into their marketing of your home. You know how great your yard is to enjoy, but when others can’t see it at the moment, they don’t know what a difference that makes in your home versus another. With these additional photos, it could make the difference.

Tip #4:Don’t Be Cheap When It Comes to Fixes. Have a faucet that drips? A floorboard that squeaks? A carpet that needs replacing? DO IT. Have older appliances? Buy new ones. Yes, new ones. They don’t have to be expensive, but more modern helps to sell!

I disagree with Tip #5 because my buyers find it extremely uncomfortable when the owner is home, and I find that they tend to not take the house seriously if the seller is there. It is good to have brochures and photos there to share information about your home, and your agent is an important facilitator in this process in speaking with the buyer’s agent and getting buyer’s questions answered. But do NOT be there for showings. Buyers want to open cabinets, closets, and feel like it could be their home. If you are there, they can’t imagine themselves as the owners there.

I hope Towson home sellers find this information useful as they prepare to sell their homes. Please contact me to help you further!

Northrup Grumman Moving Headquarters to Washington, DC Area Should Help Baltimore Housing Market

The Los Angeles Times reported today that Northrup Grumman is moving its Headquarters to the Washington, DC area.

This could mean a lot of jobs in the Maryland/DC/Virginia area, if current employees don’t want to move across the country.

They will be scouting locations in all three states before deciding where to plant their roots, which will happen by summer of 2011.

Should they choose to be in Maryland or even the northern part of DC, this could be a fanastic for the Baltimore real estate market in 2011.

Why?

Washington, DC, the Potomac, and the surrounding areas are very expensive places to live. Now, coming from Los Angeles, it might not be as much of a shock, but with MARC trains and easy commutes from Baltimore to the DC area, living in Baltimore is a great option for those employees who will be working for them.

So, welcome, Northrup Grumman!

Back to School Brings Buyers Back to Towson Real Estate Market

Last week, Baltimore County went back to school. A long Labor Day weekend allowed for a feeling of lengthened summer, but today is the official day that we are back in full swing and the long days of summer are over.

Since kids are back in school, that usually brings a boost to the Towson Real Estate market, and this year appears to be no different. I have appointments every evening this week as the cool crisp air brings a new sense of urgency to get into the home of your dreams as you get ready to hunker down indoors for the cold weather months!

The $8,000 First Time Homebuyer Tax Credit is also a catalyst, because buyers really should get a home under contract by September 25 in order to ensure closing happens before November 30, 2009. This affects home sellers too, because if their home is in a Towson neighborhood like Loch Raven Village, where first time homebuyers are flocking, they need to get their homes on the market now so they can move soon and their buyers can take advantage of this credit.

Contact me today to take advantage of this first time homebuyer market, whether you are a buyer or a seller. Everyone wins!

Old Towson Jail to become New West Towson Pool — Charter Members May Be Able to Transfer Membership when selling their West Towson Homes

The site of the old jail in West Towson at the corner of Bosley and TowsonTown Blvd is due to have a new life — as a community pool!

Set to be open Memorial Day 2011, this would be a great addition to the Towson community.

Loni Ingraham, of the Towson Times, wrote about it the day Baltimore County voted to lease the land for $1 per year. Here are more details in her article.

The space is also set to have office space in the old Warden’s building and possibly a cafe.

Mary Gail Hare, of the Baltimore Sun, wrote an article on June 14 about how the renovations began last week on the 3 story building, which was declared a historical landmark in 1991. Azola & Associates Inc is doing the work. They are known for their renovations on historic properties, like the one they did at the Stone Mansion in Coldspring Newtown and the Bromo Seltzer Tower in downtown Baltimore.

So what does this mean for Towson Homeowners? If you are a charter member, your membership may be transferrable with the sale of your Towson home. Once the pool is opened, as discovered at the Mays Chapel Swim Club in Timonium, they sell out quickly and there is a wait list years long. Having a charter membership could possibly help your Towson House Value for resale in the future, when memberships will most likely be hard to come by!

Misleading Towson Zillow Zestimates Explained Further

As I wrote March 2, Towson Zillow Zestimates in general, are statistically off by a large amount.

Last week I had a client call me because his HELOC was reduced by a large amount right in the middle of construction to improve his home. He could not understand how the bank could make the determination that his Towson house value had dropped over $200,000 in the past 18 months since he opened his HELOC.

Upon speaking to the bank, the representative pulls up Zillow, and proceeds to tell him this is how they discovered the value change.

“Is this true? Has my value really dropped by THIS much? I knew we were in a depressed market, but did not think it was THIS bad,” he asked me.

Based on a true market analysis, his value has really only dropped by $25-50,000. So how is Zillow off this much?

Enter the powers of social media!

I was able to find both the COO & the Director of Community Relations for Zillow on Twitter.

I contacted COO Spencer Rascoff and he tweeted back:

“Lenders shouldn’t rely on Zestimates. Use an appraisal.” “We have “a Zestimate is not an appraisal” language all over the site. http://twurl.nl/7lj6mc “

He then emailed me directly because he wanted to get to the bottom as to why they are so far off.

Director of Community Relations David Gibbons tweeted:

“…it may not change outcome by he {sic} can’t reduce heloc based on Zestimate alone.” “Lenders are supposed to use commercially licensed AVMs & appraisals, not Zestimates!”

While they are both correct, and I agree with them wholeheartedly, lenders ARE using their site, and if the site’s purpose is to provide real estate information, then the site should be more accurate.

Through emails and more discussion, I was able to find out more about how the Zestimate values are determined.

David direct messaged me that it: “looks like your purchase price and taxes have the biggest impact on your Zestimate…”

I asked what that had to do with a current value of a home, because there is no correlation whatsoever in the real estate market from what you paid for it and what it is worth now.

His answer: “homes only sell on average once every seven years so when figuring out what a home is worth its last price is important – though 2002 is…we count past sales in less and less over time … a sale last year would have much greater impact.”

NO WONDER the values are off so dramatically. And if Zestimates continue to be calculated in this respect, then we should be looking for values to be tremendously off in 2013-2014 in the other direction. So my client can be assured that in 3 years his Zestimate should be approximately $200,000 OVER true value!

Please be aware that the Zillow Zestimates, at least in the Towson market area, may have no relationship to the true value of any home.

This reiterates the point that REAL ESTATE IS LOCAL and, as COO Rascoff wrote: “a Zestimate is not a replacement for a real estate agent. Far from it.” For your free Towson Home Price Estimate, contact me today!

$8,000 Tax Credit Can Be Used for Downpayment for Baltimore Homebuyers

**Update May 14, 2009, please see my update that HUD has retracted its statement and that this may NOT be the case everywhere.**

The Secretary of the U.S. Department of Housing and Urban Development announced at the National Association of Realtors summit today that the FHA is going to allow lenders to let First Time Homebuyers use the $8000 tax credit currently in place as a downpayment rather than having to wait until they file their tax returns.

Secretary Donovan stated: “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment.”

On the heels of the Fannie Mae & Freddie Mac 105% Refinance Plus Program announced last month, this is a great indication of how the Obama Administration is working hard to stabilize the housing market and the economy in general.

More details will be forthcoming, and until then, the details can be found here.

So, what are you waiting for, Baltimore Homebuyers? THE TIME TO BUY IS NOW! Don’t miss your chance!

Real Estate Agent Social Media Networking Presentation for Women’s Council of Realtors in Baltimore

Thursday was a wonderful day — great weather, great people, and I had a blast presenting at the Greater Baltimore Board of Realtors (GBBR) to the Women’s Council of Realtors (WCR) on social media networking for real estate agents.

I was asked to present based on my experience and success using social media to enhance my Towson real estate business.

The four networks I discussed were Facebook, ActiveRain, Linkedin, and Twitter.

Although I also actively participate on Trulia and Zillow, I only had 20 minutes to present! On May 21, 2009, I have been asked to present a follow up because there was so much interest from the Baltimore realtors.

I met some fantastic people, and enjoyed speaking with many of the attendees afterwards. I am looking forward to the next presentation, and will also be teaching another 1.5 CE credit course on the same topic for GBBR on May 28, 2009.

11626 Hunters Run Drive – Hunt Valley Station – $550,000.00

A Fantastic Single Family Home on Hunters Run Drive in Hunt Valley Station
Four Bedrooms, Two Car Garage, Large Deck and Hardwood Floors Throughout

**Update July 13, 2009, CONGRATULATIONS! WE SETTLED!**

**Update May 5, 2009, Congratulations sellers, we are UNDER CONTRACT!**

Read more

Homeowners awarded an average of $693,000 for losses in Jacksonville House Values due to Exxon Spill

Jacksonville, Maryland is a quiet area in Northeast Baltimore County. The area is also known as Phoenix, Maryland.

Life there was generally uneventful until one fateful day in 2006 when an underground pipe at the Exxon Gas Station at Jarrettsville Pike & Paper Mill Roads began to leak — releasing 26,000 gallons of fuel into the ground.  The leak was not detected for 37 days due to an alarm reset issue.

After that, Jacksonville homes in the area had their wells contaminated and house values plummeted.  While homes in the neighborhoods used to sell for anywhere from $300,000 to over $1 million, they were basically unsaleable.  The leak exposed homeowners to to methyl tertiary butyl ether (MTBE), which has not been conclusively linked to cause cancer in humans, but has not been determined as safe either.

After a five month trial in Baltimore County Circuit Court, a jury awarded the homeowners about $150 million as compensation for the drop in their value of their Jacksonville property, their pain and suffering and for medical monitoring.  The average award for the drop in property values was $693,000.

Forbes reported on the verdict in favor of the plaintiffs, also indicating that not all homeowners were happy with the result.

Though I am pleased that the jury found in the homeowners’ favor and that they were awarded compensation for this preventable mess, I am saddened that this beautiful area now has this stigma attached to it.

My hope is that the MTBE will filter its way out over the next few years, and this can just be a horrible memory, though I feel that the likelyhood of that happening is unfortunately slim.

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