February 2012

$2200 – Charming Cape on Cul de Sac – 4 Bedroom – 2 bath

Charming Cape style home on lovely cul de sac. Living room, dining room, four bedrooms, 2 full baths, HW floors, level rear yard. Two months security, credit check and references required. Pets considered per landlord approval.

Exclusively listed with Bondi Realty Group LLC
Please call 203-899-9990 to schedule a showing appointment.

Staging Facts for Home Sellers

 

 Staging facts for home sellers

 If you really want results and would love to stand out above the competition when you sell your property, then consider hiring a professional home stager.

A small investment in staging can result in a much higher price for your home.

 Birgit Anich is a professional stager and lifestyle market specialist. The results from her expertise are amazing.  Check out her website www.BirgitAnich.com

Here is what she has to say about home staging and the local real estate market.

                                                                     How to Reveal the True Value of Your Home

When selling real estate – or any other product – there are always two sides that need to be considered. There is a difference between the PRICE and the VALUE of a property.

1. The PRICE is the amount of money you are asking for the property.

2. The VALUE is whether the buyer perceives that your property is worth or desirable for that price.

The perceived value is influenced by many factors, such as location, condition, features, appeal, and comparison to other listings in your market area. If your house has been on the market for some time and you have not received offers or not the offer that you desired to achieve, this is an indication that the buyers do not perceive the value of your property worth the price you are offering it for.

When selling your house you are in business and it is important to understand today’s real estate buyers and what they consider valuable in their decision when making their single largest expense. Buyers today are not buying the same way as buyers from just a few years ago. Due to a large selection of homes available to them on the market, buyers can afford being picky and in what they want to have. So what are some things buyers looking for?

• A move-in-ready home: most buyers do not want to purchase projects when they make their single largest expense. They want to be able to move in and immediately continue with their life without having to spend more money and time.
• Buyers are looking for a lifestyle. They do not just buy a house, they buy a home, a lifestyle they are dreaming of.
• Updated kitchen and bathrooms
• High-end finishes for appliances
• Curb appeal

So, what does this mean for you as the home seller? Are you showing your house at its best value to your buyers?

What are some of the things you can do to reveal the true value of your house?

1. Take care of all repairs.
2. Hire a real estate agent – pricing is their expertise.

3. Consult with a professional home stager on how to prepare your house for sale to show the maximum value to your target buyers. The home stager will consult you not only on how to update most cost efficiently different areas to achieve the highest return on investment, but also how you make your property stand out from your competition.

4. Update your kitchen and bathrooms. Your home stager can work with you on the best way to achieve the updated look without breaking your bank. Believe it or not, there are many ways to update a bathroom without having to completely renovate.

5. Arrange for a pre-listing home inspection. You show buyers that you have addressed any defects and thus add value and weight to your disclosure statement. It will eliminate or reduce buyers’ concerns.

6. The curb appeal gives the first impression when driving up to your house – make sure that this impression is a lasting one, so buyers get excited to visit your property. Consider hiring a professional landscaper.

7. Never sell a house vacant – real estate gurus will tell you that trying to sell a house empty is one of the biggest mistakes. But don’t just put any furniture in. Remember you are selling a lifestyle and added value to stand out from your competition. The right choice of furniture, furniture placement, accessories, artwork, lighting, rugs are critical for your success as each item that you add sends buyers a conscious and unconscious message to feel connected with the house. Call a professional home stager who specializes in vacant real estate staging.

Once you show buyers the maximum VALUE the house will sell faster and buyers are willing to pay more. The spring real estate market is just around the corner. Right now is the best time for you to get prepared to show the maximum value of YOUR house and consult with a professional stager. Don’t take the “let’s see how it goes and if it does not work, we can still hire a stager later” attitude. The most traffic drawn into your house will be within the first 2-4 weeks. If you don’t get the attention of buyer’s real estate agents and buyers looking online, you are wasting all this time on the market. Your house will then become a stale listing that they will not come back to visit, even if you have made changes. You then just compete on price and not the true value of your home. So, act BEFORE putting your house on the market and show it at its best value right away.

 

Betty Bondi
Bondi Realty Group LLC
203-899-9990

Fairfield County Real Estate News Update 2012

Real Estate News Update 2012

 Happy New Year! What does the local real estate market hold for us this year?

Does anyone really know? With first time buyers’ dipping their toes in the water, my guess is that it should be an active year in real estate. The rental market is still strong, but rents are increasing at such a pace that smart qualified buyers should be choosing to purchase a home instead of rent.

 Let’s take a look at what is really happening out there in our local real estate market. I believe our current local real estate market has faired better then the rest of the country. We haven’t seen as many foreclosures as the rest of the country and our job market have shown signs of picking up. Here are a few statistics from Consolidated Multiple Listing system.

 As we enter 2012 I can tell you that Norwalk’s housing market is showing signs of stability but the banks are still being cautious and reserved with their lending.  In January of 2011 there were 327 single family homes on the market and 194 condominiums for sale.  January of 2012 shows single family inventory at 320 and condominium inventory at 198. That is a slight decline in single family numbers. Condo numbers show a slight increase in the inventory.

 Norwalk home sales are down from last year. 505 single family homes and 227 condos sold in 2010. Sales from 2011 are showing 440 single family homes and 192 condos sold for the year. This could be attributed to more people renting last year than purchasing.

 Norwalk’s last quarter is showing the following numbers: 101 Single family homes sold and 44 condos. These numbers are very similar to the June- October quarter.

 Westport’s housing numbers are also down. Current inventory shows 229 single family and 13 condos for sale this year.  They are also reporting a decrease of home sales for 2011. 350 single family homes sold in 2010. 2011 is reporting sales of 344 single family homes, but condo sales are up from 23 sold in 2010 to 35 sold in 2011.

 Wilton single family sales numbers are up from last year! Current inventory shows 132 single family and 9 condos for sale. 165 Single family homes and 25 condos sold here in 2010. Sales for 2011 are showing 177 Single family homes sold along with 17 condos.

Last quarters numbers are as follows: Single family homes – 35, but no condo sales last quarter.

 As 2011 progressed the housing prices continued to slump. Our prices have declined 25 to 30% from the high point of the housing market. Mortgage rates and home prices are at an all time low and there are fantastic deals to be had. Short sales are still coming on the market and if you have some patience you can score a great buy!

 Betty Bondi
Bondi Realty Group LLC
203-899-9990