I read what would be an amusing, if it wasn?t so true, article written by Arizona Realtor Paul Pastore.? Times are tough for many home sellers, but the thoughts expressed about pricing and staging, while tongue in cheek, are spot on. ?The entire article is below.
?Home staging is not a substitute for proper pricing. ?It is only one leg of the ?home selling stool?.
Pricing, staging, and marketing all must be correct for a property to sell.
This week I viewed a property owned by a seller who thought he could fool ?all of the?people all of the time? with home staging.? He hired a local expert and a stager from California to ?cutify? his property.? ?The seller felt he could overprice the house by 50k after spending a few grand on staging cosmetics.
The seller purchased the property about a year ago for 390k & rolled his costs into a VA loan. ?His balance is around 400k.? The current market value is 375k. After costs he is about 50k under water.? He could short sale?the house, bring cash to closing, or ?doll it up? and ask 425k in an effort to break even.? He foolishly chose the latter strategy.
A sage once said that you can put lipstick on a pig, but you still have a pig.? An agent can stage an overpriced home, hold open houses every day, give out free hotdogs on the weekends, dress up in a clown suit and spin a sign on the nearest corner, have the Boy Scouts hand out flyers, have the 13 dogs that set the Guinness book of records jumping rope for the neighbors, have the Blue Angels do a fly-over, use the property for a charity Christmas boutique, offer a free petting zoo in the back yard, free car washes in the front yard by scantily clad cheerleaders, and have the home featured at half-time on Monday night football.
If the home is overpriced it still will not sell.
Home staging is to selling as red robes are to Catholic cardinals.? They both look great.
Few people buy a book based on its dust jacket.? Few home buyers overlook relevant comps because the home looks great and smells like vanilla extract.?
Source: http://michael-zimmerman.com/2011/10/03/home-staging-is-no-substitute-for-intelligent-pricing/
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