Staging for First Impressions

July 14, 2008

Do it Yourself or Hire a Pro?

In today’s Truckee real estate market, sellers and their Realtors are looking for new ways to get homes sold. Staging, or creating vignettes, can be an important and strategic move in facilitating a positive first impression. It can also be fun and creative. You can do it yourself or hire a pro.

DOING IT YOURSELF: In real estate, first impressions matter! We often suggest to sellers that they approach the home they want to sell as though they are the buyer seeing it for the first time. Start at the street. Does your driveway need to be repaired or sealed? How does the yard look? Is it clear of pine needles, debris and are the trees trims trimmed and thinned appropriately? Does the house need staining? Are there any exterior repairs that have been neglected? What about the front entry? Now step inside the house. Does it feel inviting? Be honest about the clutter - do you need to put a few things away? Does your furniture arrangement show off your home’s potential? Does your home need a fresh coat of paint? Are you missing any key pieces of furniture? Does the carpet need to be cleaned? Clean out the refrigerator. Put nice towels in the bathrooms. Get rid of ugly bedspreads. Make sure the windows sparkle. Are your pantries and closets organized? Ask yourself, “Am I impressed”?

HIRING A PROFESSIONAL: Some sellers choose to hire professional Staging Consultants. We see this more frequently in brand new homes or spec homes. The staging consultant will typically come to your property (for a fee) and evaluate your home. The consultant will then come up with a plan that proposes the scope of their project including labor and materials. In new homes, the staging consultant will usually recommend that she stages the front entry (inside and out), kitchen, great room / living room, dining area, master bed & bath and a powder bath. Bonus rooms are often staged as well. The next step, if you choose to hire a staging consultant, is that they will bring in a houseful of furnishings and stage your home. The fee for this usually encompasses a delivery fee and set-up fee (the actual staging). A monthly fee is then assessed that is typically a percentage of the value of the furnishings placed in the home. Most staging consultants have a 3 month minimum for staging. Every Staging Consultant is different and it is very important to work with the one that you feel comfortable with. Keep in mind, staging is not meant to make your house sell for more but rather staging entices and captures the attention of your prospective buyers. You still need to make sure your house is priced strategically for the market you are in. Call us today to review what your home is valued at in this market and we’ll also be happy to provide a list of qualified Staging Consultants.

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Tahoe Donner Market Snap Shot: June 1 - June 30, 2008

July 14, 2008

Tahoe Donner Single Family Homes Sold - June 2008

Single Family Homes SOLD = 22
Median List Price = $620,000
Median Sold Price = $600,000
Average Days on Market = 127
YTD TD SF Homes Sold = 87
Active Listings = 166
*Twice as many single family homes sold in June ‘08 than in May ‘08.

Tahoe Donner Condos Sold - June 2008

Condos SOLD = 0
Median List Price = $425,000
Median Sold Price = no sales June ‘08
YTD TD Condos Sold = 6
Active Listings = 44

Tahoe Donner Lots Sold - June 2008

Lots SOLD = 1
Median List Price = $375,000
Median Sold Price = $350,000
Average Days on Market = 52
YTD TD Lots Sold = 9
Active Listings = 62

(YTD = Year-To-Date)

This is provided as a quick snapshot of the monthly market activity in Tahoe Donner. Keep in mind, numbers only tell part of the story. We would be happy to share our day-to-day insight.

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Selling in Today’s Market

July 12, 2008

What’s in Store for Buyers and Sellers?

We’re in the midst of a challenging market in the Truckee and Lake Tahoe real estate markets. One of the most difficult realities for most sellers to face is that prices in their neighborhood may have dropped during the last year or two. The trick is to price your home right for today’s market.

This is a great time to “move up”. In Tahoe Donner, for example, with today’s lower prices, it is an advantageous time to buy a newer, bigger or different house. As a seller, you may have to sell for less than you would have a few years ago. But, as a buyer, you may also pay a lot less for the next home you purchase.

When should you list? A seller usually has an advantage selling when there isn’t much competition from other listings. Listing before the busy summer months can put you ahead of the game. There will be more listings coming on the market in June and July and the vacation home market in Truckee is in full swing by August and September.

Thoughts about pricing: Today’s home buyers are extremely price-conscious. If there is alot of inventory to choose from, price will certainly be a big factor. A price that’s too high for the market won’t bring the desired result.

In the current environment, buyers are more cautious about what they buy because they know that the property they buy might drop in value before it starts appreciating. They buy for the long term and are less prone to make compromises.

Condition and maintenance: The condition of your property will be scrutinized more carefully in the current market than it would have been a few years ago. You can sell a property that has deferred maintenance. But, you will sell it more quickly and for a better price if you can repair defects and have the property looking great when it hits the market. If this is not possible, take this into consideration in your list price.

Price reductions: It’s difficult to hit the market price for a property if there haven’t been many recent sales in the neighborhood. If you miss the target and find that your home is priced too high, lower it as soon as possible. A price reduction is no longer a stigma in this market. Letting a listing sit on the market too long at a high price sends the wrong message to buyers and could result in a lower sale price if market prices in your area continue to decline.

When we work with you to sell your home we will provide objective opinions about pricing, repairing, replacing and staging. We want to help you get your home sold in the shortest amount of time for the most money. Give us a call at 530-550-5142.

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15329 Wolfgang Road, Tahoe Donner

July 10, 2008

Best LOT in Tahoe Donner Under $300K

Don’t miss your opportunity to own this fantastic Tahoe Donner lot. This gorgeous upslope and beautifully treed lot has panoramic mountain views. This lot is in close proximity to the Tahoe Donner Cross Country Ski Center, the Equestrian Center and the Downhill Ski Area! Hike and bike in the summer on the Tahoe Donner trails and xc ski and downhill ski in the winter at Tahoe Donner’s great ski areas. Build your dream home on this Tahoe Donner lot and start enjoying all the wonderful amenities Tahoe Donner has to offer.