Monday, March 17, 2014
Saturday, January 11, 2014
Over-the-Top Amenities Push Buyers Away | Realtor Magazine
Over-the-Top Amenities Push Buyers Away | Realtor Magazine: Over-the-Top Amenities Push Buyers Away
Daily Real Estate News | Friday, January 10, 2014
Real estate agents selling homes belonging to celebrities face unique challenges.
To preserve their privacy, celebrities often desire listings to be out of the public eye; and these homes also tend to be larger with upscale amenities like movie theaters and bowling alleys. Both of these factors make the resale process more difficult.
"The ability to afford all that satisfies your wants and needs leads celebrities to do things unique to their own interests and values," says Mark Stapp of Arizona State University's W.P. Carey School of Business, "but the design, style, finish, decor and amenities can be so specific to the individual that the property has limited value to most others."
It's important for celebrities to price their homes appropriately, and those seeking the most privacy should put the home in a blind trust.
Source: "Luxury Real Estate Mistakes of the Rich and Famous," Main Street News (01/08/2014)
Copyright © 2014 Information, Inc.
Daily Real Estate News | Friday, January 10, 2014
Real estate agents selling homes belonging to celebrities face unique challenges.
To preserve their privacy, celebrities often desire listings to be out of the public eye; and these homes also tend to be larger with upscale amenities like movie theaters and bowling alleys. Both of these factors make the resale process more difficult.
"The ability to afford all that satisfies your wants and needs leads celebrities to do things unique to their own interests and values," says Mark Stapp of Arizona State University's W.P. Carey School of Business, "but the design, style, finish, decor and amenities can be so specific to the individual that the property has limited value to most others."
It's important for celebrities to price their homes appropriately, and those seeking the most privacy should put the home in a blind trust.
Source: "Luxury Real Estate Mistakes of the Rich and Famous," Main Street News (01/08/2014)
Copyright © 2014 Information, Inc.
Monday, December 30, 2013
Friday, December 27, 2013
Study: Staging Doesn't Influence Selling Price
While effective home staging can influence first impressions of a property, new research concludes that the strategy by itself may not convince buyers to pay more.
College of William and Mary real estate and finance professor Michael Seiler led the study, called "The Impact of Staging Conditions on Residential Real Estate Demand." He and his co-authors used professional rendering software to create six virtual home tours with varying degrees of attractive or neutral design and furnishings, ugly furniture and design elements, or no furniture at all. More than 800 home buyers were exposed to one of the tours, after which they reported how much they would be willing to pay for the listing. Regardless of the paint color or quality of the furnishings, study participants all said they would pay about the same for all six of the homes: $204,000.
Still, Seiler warns that the study may not represent the last word on staging: "All we could test is how much the home would sell for. What we don't know is whether a well-staged home will sell faster. It may sell quicker."
Despite the findings, many real estate agents still believe staging works—especially when buyer emotions come into play. If the staging is favorable, they say, buyers will be willing to up the purchase price; but if it is unfavorable, it may be the element that causes them to walk away.
Source: "Home Staging Effect? Not Much." Wall Street Journal (Dec. 27, 2013)
Copyright 2013 Information Inc.
Read more
Want to Sell the Home Faster? Stage it First, Study Says
College of William and Mary real estate and finance professor Michael Seiler led the study, called "The Impact of Staging Conditions on Residential Real Estate Demand." He and his co-authors used professional rendering software to create six virtual home tours with varying degrees of attractive or neutral design and furnishings, ugly furniture and design elements, or no furniture at all. More than 800 home buyers were exposed to one of the tours, after which they reported how much they would be willing to pay for the listing. Regardless of the paint color or quality of the furnishings, study participants all said they would pay about the same for all six of the homes: $204,000.
Still, Seiler warns that the study may not represent the last word on staging: "All we could test is how much the home would sell for. What we don't know is whether a well-staged home will sell faster. It may sell quicker."
Despite the findings, many real estate agents still believe staging works—especially when buyer emotions come into play. If the staging is favorable, they say, buyers will be willing to up the purchase price; but if it is unfavorable, it may be the element that causes them to walk away.
Source: "Home Staging Effect? Not Much." Wall Street Journal (Dec. 27, 2013)
Copyright 2013 Information Inc.
Read more
Want to Sell the Home Faster? Stage it First, Study Says
Tuesday, November 19, 2013
Tuesday, October 8, 2013
Thursday, September 19, 2013
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