staging | Team Reba Real Estate

My 2cents on that is a resounding YES! However, to provide support from a source outside of my own real estate practice I think it helps to see the stats that a local staging company has been providing on the subject. They’ve somehow been gaining access to MLS data showing sold homes in a variety of mid-to-upper end homes and this is what they’ve found in 2 recent reports they sent out.

Report released December 8th with viewing of properties sold for the prior 90 days through to December 5th:

“In our research, we found that in the Seattle Area in the past 90 days, 480 homes have sold that were listed between $500,000 and $1,200,000. Of those that sold (excluding the 20 Waterfront and Waterview listings) 79% were STAGED HOMES, 21% were unstaged or vacant. Sample locations were West Seattle, East Side/South, Mercer Island, Bellevue-East of 405, Bellevue-West of 405, Kirkland/Bridle Trails, Queen Anne/Magnolia, North Seattle, and Ballard/Greenlake. All data provided by Northwest Multiple Listing Service and based on online photos. “Pretty interesting stuff, huh?

The study they released today had the past 30 days information on homes sold through January 6, 2009:

Building on last months study, we again reviewed all sold homes in the Seattle area. From our sample, it is clear that homes that are Staged are selling at a much higher rate than those that are not. In our research, we found that in the Seattle Area in the past 30 days, 116 homes have sold that were listed between $500,000 and $1,200,000. Of those that sold (excluding Waterfront and Waterview listings) 81.5% were STAGED HOMES, 18.5% were non-Staged or vacant. For those that sold, Time on Market for Staged Homes was 79.5 days while non-Staged homes was 125 days. Purchase price for Staged Homes was $40,209 less than asking price while purchase price was $46,842 less than asking for non-Staged homes. The dollar value that Staging brought to these home sellers was $6,633 in the sale price of their home and 45.5 less days on market. Sample locations were West Seattle, East Side/South, Mercer Island, Bellevue-East of 405, Bellevue-West of 405, Kirkland/Bridle Trails, Queen Anne/Magnolia, North Seattle, and Ballard/Greenlake. All data provided by Northwest Multiple Listing Service and based on online photos. Now, what I’d really like to know is how many houses were there on the market during that period of time? Not just how many of the sold units, but to compare that to all of the properties available. Now THAT would be some awesome numbers to show although this is mighty powerful information for sellers to consider since you want to be in that top 80-ish percent of sold and for higher prices than your competitors.

For agents, like me and my team, who have been doing this kind of servicing since DAY 1 with our Concierge Services we are pleased to see someone provide hard evidence of the value that this kind of service provides. If you are considering selling your home, we’d love to be able to show you the difference that our staging provides!

Anyone else have thoughts they’d like to share on staging? Please feel free to comment! What did or did not work for you?

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We are extremely excited to bring a series of new and some of our most popular classes to a new venue this year. As some of our clients and readers know, the organization Discover U closed its doors about this time last year so we lost one of our classroom venues. Now we have partnered with mortgage originator Paul McFadden to offer these 8 great classes for the public at Renton Technical College. All but one will be held at the RTC campus. We hope you’ll be able to join us, starting in April, and soon these will be on our Team Reba website where you can sign up or be directed to the RTC site for sign up there. We’re still waiting for details from them for that final piece since they’re still in Winter session. Check back for details!

Why Women Should Buy Real Estate

June 4 7-9pm

Location TBD

Whether you want to build a nest or a nest egg, it makes sense to consider real estate as part of your financial plan. Learn tips on how to research the right home or neighborhood for you, how to choose the right type of abode for your individual needs and best tips for navigating the process of buying.

Join us for a “girls night” devoted to preparing you for one of life’s biggest purchases, beyond fabulous strappy sandals.

(Wine, snacks, & espresso available for purchase.)

Short Sales & Foreclosure – Demystify the Process

May 16 10am-Noon

The financing and housing crisis has hit Washington residents with 1 in 10 homeowners owing more than their home is worth. What does this mean to you as a homeowner, seller, or potential investor buyer? Learn what a Short Sale is and how it relates to and differs from a foreclosure? How do Short Sales work? What are the timelines for each? And more importantly, if I’m involved in one what can I expect? The class will demystify the process and give you the knowledge you need to navigate one, as a buyer or seller.

Selling Your Home In This Market

June 20 10am-Noon

Recent changes in the local real estate markets have forced sellers to amp up their selling skills. Learn what to expect from buyers and how to craft a “WOW!” marketing plan to bring a quality offer quickly on your property. Learn about new laws affecting your obligations for legal disclosures and how to overcome the inevitable hurdles of contract contingencies.

Getting A Loan Today

April 18 10am-Noon

Media coverage today leads us to believe no one can qualify for a home loan. Nothing could be further from the truth. Learn how you can prepare yourself to get the best loan for your situation.

The importance of credit scoring, how it is determined, and what you can do about it

The loan approval process-from start to finish including qualifying factors

New and renewed loan programs:
- Low down-payment options (FHA, grants, gov’t bond)
- Energy efficient (Green Loans)
- Conventional and non-conventional financing

Diversify Your Portfolio With Real Estate

April 18 6:30-8:30pm

Now is the best time to review and rebalance your investment portfolio. With property prices down and reasonable financing options still available, it’s worth considering how real estate can fit into your investment strategy. This course will cover several elements including:

What mix of investments is appropriate
Tax savings and investment strategies to ensure a comfortable retirement
How to compare monthly returns of slow to faster turn around projects.

Real Estate Investment Analysis

May 5 6-9pm

In this “No-Fluff Real Estate Investment” class, you’ll discover how to do the financial due diligence necessary to make your real estate investment a profitable one. Learn the basics of financial analysis, taxation and planning from a financial analyst experienced in public and corporate accounting, taxation, financial management and analysis.

Should I Buy or Sell Now?

April 7 6:30-8:30pm

It’s not uncommon for buyers and sellers to feel lost in today’s market place with all the confusing and sometimes conflicting messages in the media. Join us as we cover current, local real estate market and financing data which can help you decipher for yourself if now is the right time to make your move.

Ask the Experts – A Panel Discussion for Real Estate Investors

May 19 6:30-8:30pm

Have you ever wondered if you should put your investment property into an LLC but haven’t known who or what to ask? We’ll have experts in estate planning, real estate law, and a CPA who can answer your questions on the best ways to protect yourself and your assets. A moderator will help lead the discussion as well as open Q&A session.

Team Reba Real Estate

Seattle real estate and related wealth management topics

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