HOME SALES SLOWDOWN? NOT IN HOUSTON, TEXAS!

The Bayou City real estate market remains strong as summer gives way to fall

HOUSTON (September 23, 2013) You won’t find signs of the traditional autumn slowdown in the Houston real estate market as August provided a 27th consecutive month of positive home sales. Following July’s small uptick in home inventory, buyers once again outpaced sellers in August, sending months of inventory from 3.4 to 3.3 months versus 4.9 months at the same time last year.

According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR), home sales climbed 16.2 percent year-over-year, with contracts closing on 7,504 single-family homes. Monthly home sales volume has topped the 7,000 mark for four straight months, matching levels last seen in the spring of 2007.

The median price of a single-family home—the figure at which half the homes sold for more and half for less—rose 12.8 percent to $186,200. The average price increased 16.4 percent year-over-year to $260,607. Both figures represent the highest prices ever seen in an August in Houston.

August brought gains to all housing segments except the under-$80,000 market. Homes selling from $250,000 through the millions registered the greatest increase in sales volume.

“This has definitely been a summer sales season unlike any we have seen before,” said HAR Chairman Danny Frank with Prudential Anderson Properties. “Our small bump in inventory in July was short-lived as consumers bought faster than homeowners sold in August. It’s difficult to say exactly when Houston’s boiling real estate market will begin to cool down.”

Foreclosure property sales reported in the HAR Multiple Listing Service (MLS) dropped 47.0 percent compared to August 2012. Foreclosures currently make up just 7.7 percent of all property sales, down from 19.6 percent at the beginning of the year. The median price of foreclosures jumped 12.6 percent to $90,055.

August sales of all property types in totaled 8,908, a 16.4 percent increase over the same month last year. Total dollar volume for properties sold shot up 35.6 percent to $2.2 billion versus $1.6 billion a year earlier.

August Monthly Market Comparison

Houston’s real estate market enjoyed positive indicators across the board in August when comparing sales to August 2012. On a year-over-year basis, total property sales, total dollar volume and average and median pricing all increased.

Month-end pending sales totaled 4,363, a 1.5 percent gain over last year and a smaller increase than the market has experienced in many months. While that ordinarily might suggest a tapering in sales activity in the subsequent month, it is most likely symptomatic of homes selling so quickly that they never attain “pending” status. Active listings, or the number of available properties, at the end of August declined 18.9 percent to 32,834.

Houston’s inventory of available homes dipped from 3.4 months in July to 3.3 months in July, down from the year-ago level of 4.9 months of inventory. The inventory of single-family homes across the United States currently stands at 5.1 months, according to the latest report from the National Association of REALTORSâ (NAR).

CATEGORIES AUGUST 2012 AUGUST 2013 CHANGE
Total property sales 7,652 8,908 16.4%
Total dollar volume $1,640,672,396 $2,225,063,198 35.6%
Total active listings 40,540 32,834 -18.9%
Total pending sales 4,298 4,363 1.5%
Single-family home sales 6,457 7,504 16.2%
Single-family average sales price $223,858 $260,607 16.4%
Single-family median sales price $165,000 $186,200 12.8%
Months inventory* 4.9 3.3 -33.7%
* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

 

Single-Family Homes Update

August sales of single-family homes in Houston totaled 7,504, up 16.2 percent from August 2012. That marks the 27th consecutive monthly increase.

Home prices achieved the highest levels ever recorded in Houston in an August. The single-family median price rose 12.8 percent from last year to $186,200 and the average price climbed 16.4 percent year-over-year to $260,607.

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Broken out by housing segment, August sales performed as follows:

  • $1 – $79,999: decreased 38.6 percent
  • $80,000 – $149,999: increased 0.7 percent
  • $150,000 – $249,999: increased 25.7 percent
  • $250,000 – $499,999: increased 39.0 percent
  • $500,000 – $1 million and above: increased 51.2 percent
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HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In August 2013, existing home sales totaled 6,679, a 20.8 percent increase from the same month last year. The average sales price rose 16.6 percent year-over-year to $248,720 while the median sales price rose 14.2 percent to $177,000.

Townhouse/Condominium Update

August sales of townhouses and condominiums climbed 13.9 percent from one year earlier. A total of 665 units sold last month compared to 584 properties in August 2012. The average price rose 20.4 percent to $204,908 while the median price increased 14.6 percent to $150,000. Months inventory was 3.2 months versus 5.6 months in August 2012.

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Lease Property Update

Houston’s lease property market remained healthy in August. Rentals of single-family homes rose 10.3 percent compared to August 2012 while year-over-year townhouse/condominium rentals were flat. Rents crept up to record highs with the average monthly lease of a single-family home reaching $1,748 and the average monthly lease for a townhouse/condominium reaching $1,507.

Houston Real Estate Milestones in August
  • Single-family home sales increased 16.2 percent year-over-year, accounting for the market’s 27th consecutive monthly increase;
  • Total property sales rose 16.4 percent compared to one year earlier;
  • Total dollar volume jumped 35.6 percent, increasing from $1.6 billion to $2.2 billion on a year-over-year basis;
  • At $186,200, the single-family home median price reached the highest level for an August in Houston;
  • At $260,607, the single-family home average price also reached an August high;
  • 3.3 months inventory of single-family homes is down from 3.4 months in July 2013 and down from 4.9 months in August 2012 while comparing to the national average of 5.1 months;
  • Sales of townhouses/condominiums rose 13.9 percent year-over-year.
  • Rentals of single-family homes rose 10.3 percent while and townhouse/condominium units were flat.
  • Rents reached record highs of $1,748 for single-family leases and $1,507 for townhouse/condominium leases.

Source

Houston Real Estate: The Time Is Right For New Commercial Construction

HOUSTON/NEW YORK (Reuters) – With Texas one of the few bright spots in the U.S. economy, the skyline of swaggering Houston is where the action is as builders and global oil companies, from Phillips 66 to Exxon Mobil Corp, look past previous busts and spend billions on gleaming new buildings.

The U.S. shale oil and gas revolution – which has already changed industries from railroads to pipelines and refineries – is helping drive the voracious appetite for office space needed for the expanding workforce in the world’s energy capital.houston-commercial-real-estate-1

Demand is so hot that Houston is one of the few places where banks – including Wells Fargo & Co, which is seen as one of the more conservative big banks – will loan money for a new building without demanding developers first have a tenant.

“Houston is booming and bar none the strongest market in the United States of America,” said Joseph Sitt, chief executive of Thor Equities, which has two projects underway in Houston.

There are some 56 office buildings totaling at least 11 million square feet under construction in and around Houston, according to real estate services firm CBRE Group Inc. That is equivalent to 190 football fields.

In the forested suburbs, Exxon has what it calls “one of the largest commercial construction projects underway in North America.” The nearly 400-acre campus with 20 buildings will have enough room for 10,000 employees.

With crude now above $100 a barrel, money is flowing freely. And while the shale oil and gas transformation means North America may be energy independent by the end of this decade, economists are wary when people say this boom will be different. They counsel caution.

“The Texas oil and gas industry is not known for long periods of stability,” Karr Ingham, economist for the Texas Alliance of Energy Producers. “Nobody wants what happened (in past busts) to happen again.”

To be sure, the amount of space being built is still only a fraction of the 88.9 million square feet developers constructed in Houston from 1980 through 1986, a flurry that more than doubled the city’s office market, according to real estate research firm Reis Inc.houston-commercial-real-estate-2

The Texas economy grew 4.8 percent last year, the fastest pace among the big U.S. states. New workers are pouring into Houston, which needs new offices for the 100,000 jobs it added last year. Houston is on track to add another 80,000 this year.

But over-exuberance about real estate and oil have afflicted Houston before. In the early 1980s developers built a 71-story green glass tower with a footprint shaped like a dollar sign.

It took nearly two decades to recover from Houston’s big crash in the 1980s, which was brought on by a collapse in oil prices. Vacancy rates soared to near 30 percent in 1983 from 9.8 percent two years prior, according to Reis.

The current building cycle is in large part propelled by burgeoning domestic production of oil and natural gas unlocked from shale formations through hydraulic fracturing and horizontal drilling.

“If you are investing in Houston, you’re a believer in the energy sector long term, which we are,” said Russell Cooper, managing director of capital transactions at Shorenstein Properties LLC in San Francisco.

The firm in January bought a building of more than one million square feet in downtown Houston from Exxon for $48 million. It plans to put a new glass skin on the building and may connect it to the air-conditioned tunnel system downtown, where office workers eat and shop to escape torrential rains and steamy heat.

Exxon has put two other buildings in Houston and one in Virginia up for sale, ahead of the move to its new campus.

Houston’s Energy Corridor Home To Big Commercial Real Estate Developments

Tower cranes dot the landscape of Houston’s so-called energy corridor, about 15 miles from downtown. The area, located on the western edge of the city, is experiencing rapid growth as companies build and expand. There, refining company Phillips 66 is constructing a 14-acre campus with over a million square feet for its 1,800 employees.

Firms are loading their blueprints with plans for everything from basketball courts to childcare centers and fancy coffee shops to attract hard-to-find energy experts.

Near the Exxon campus, an entire master-planned community called Springwoods Village with room for up to 5,000 houses and apartments is going up to accommodate new workers.

While others construct facilities for employees, some companies are building space to push the frontiers of oil technology.houston-commercial-real-estate-3

BP Plc is spending more than $100 million over the next five years to build a new three-story building that will house the huge supercomputing complex used to speed up BP’s search for oil and gas around the world.

“It made more sense to create a new home,” said Keith Gray, manager of BP’s High Performance Computing unit. “It became clear that a freestanding building was needed to address growth needs.”

Other oil and gas companies with buildings under construction or in preliminary stages in Houston include BHP Billiton Petroleum, Anadarko Petroleum Corp, Royal Dutch Shell and Chevron Corp, which plans a 50-story tower downtown.

One building which started on spec – meaning banks loan money for construction even if a tenant isn’t lined up – is the 550,000-square-foot Energy Center Three in west Houston.

Principal Real Estate Investors, part of Principal Financial Group, and developer Trammell Crow Co started the building with a loan of roughly $100 million from a Wells Fargo-led syndicate.

Within four months, oil company ConocoPhillips signed a lease for the entire building and half of Energy Center Four, which is not yet under construction, said Aaron Thielhorn, managing director of Trammell Crow’s Houston business unit.

Brian Stoffers, president of CBRE Capital Markets, said spec building in Houston in many ways makes it an outlier.

“The dynamics of the Houston market are so robust right now that it’s the exception to the economic rule around the rest of the country,” he said.

Of the buildings under construction, 29 will be rentals that will not be owner-occupied. Of those, 13 broke ground without signed leases but six of those have since found tenants.

Vacancy rates in the most expensive, modern office buildings in Houston are tumbling. Second-quarter vacancy slid to 6.9 percent from 12 percent in the same period two years ago, according to CBRE. The broader office vacancy rate is 14.2 percent versus a national average of 17 percent.

Any Danger Ahead in Commercial Real Estate in Houston?

While access to shale deposits has diminished worries about supplies, much of the new demand for crude oil in recent years has been led by developing nations such as China and India.

Big slowdowns in those developing economies could hit the price of crude and cool enthusiasm for building in Houston.

“If China and India have hit a plateau, then I think we have to ask where are the drivers for oil demand in the future,” said the University of Houston’s Robert Gilmer.

Chinese growth slowed to 7.5 percent in the second quarter – below the 8.9 percent average of the last six years.houston-commercial-real-estate-4

Apart from shale, crude oil prices generally need to stay above $65 per barrel to produce from the deepwater Gulf of Mexico or the oilsands in Canada for companies to make money.

Another risk is overbuilding. Houston, a sprawling 8,778-square-mile metropolis, has no zoning restrictions, a fact that has some investors including New York-based GreenOak Real Estate Advisors, looking elsewhere to buy.

Owners in areas where building is constrained can reap big rewards when demand for space rises, fueling rent spikes of sometimes 20 percent. That rarely happens in Houston, where developers can easily build.

“When you’re dealing with a market like Houston, there’s nothing to hold developers back,” Ryan Severino, Reis senior economist said. “You can literally can go next door and put up a building.”

Source

The Immutable Laws of Buying and Selling Real Estate

You’ve got Netwon’s Laws of Motionhouston area real estate, real estate texas, houston real estate, real estate in texas, texas real estate, tx real estate, real estate listings, houston texas real estate, real estate in houston tx, real estate houston texas, texas real estate houston, real estate in houston texas, woodlands real estate, houston real estate for sale, real estate for sale houston, real estate for sale in houston, katy real estate, houston commercial real estate, real estate in houston area, homes in houston area, houston real estate market, houston real estates, real estate in houston tx area, houston residential real estate, real estate houston tx area, houston area realestate, houston real estate listings, bellaire houston real estate, houston real estate listing, houston area real estate listings (depicted mathematically at the right). You’ve got the Laws of Thermodynamics, the economic Law of Supply and Demand, heck you’ve even got Murphy’s Law.

Why aren’t there any Laws of Real Estate?

Well, there are now.

First Law of Real Estate: It doesn’t matter what your neighbors home sold for in the past. The corollary to the First Law of Real Estate is that it doesn’t matter what your own home was worth in the past.

It. Doesn’t. Matter. Home prices are dynamic. They rise and fall, wax and wane, and can change daily – seemingly on a whim. What a home was worth five years ago, last month or yesterday has no bearing on what it is worth today. If you are in the Houston real estate market, this can be a difficult pill to swallow. You need to stop thinking about “woulda, coulda and shoulda”. You didn’t sell your home two years ago when you could have gotten twice what you’ll get today, so getting upset about what it sells for today simply is a waste of energy. You can’t go back in time (according to Einstein, a pretty sharp dude) and sell your home, so stop worrying about it.

Second Law of Real Estate: A home is worth what a ready, willing and able buyer will pay for it. In today’s market, “able” is usually the limiting factor. Blame the banks.

Your real estate agent can’t tell you what your home is worth. Zillow and other automated valuation models (AVMs) certainly can’t tell you what a home is worth. A home appraiser can’t even tell you (though the bank will listen to an appraiser and not loan you more than what they claim the home is worth).

A real estate agent can give you a general idea of what a home may sell for. Software valuations are fun to play with and are reasonable ways to look at pricing trends, but should never be relied on to price a home. And appraisers do very good work at drilling down into a home’s value. But the bottom line is, unless you find a buyer that is ready, willing and able to buy your home – at the price they deem appropriate – it’s not going to sell. Ever. (With the possible exception of being “sold” back to the lender at foreclosure).

In short, it doesn’t matter what you think your home is worth. And it certainly doesn’t matter what you wish your home was worth. What matters is what a buyer thinks it’s worth. And whether a lender will approve a loan at that amount.houston area real estate, real estate texas, houston real estate, real estate in texas, texas real estate, tx real estate, real estate listings, houston texas real estate, real estate in houston tx, real estate houston texas, texas real estate houston, real estate in houston texas, woodlands real estate, houston real estate for sale, real estate for sale houston, real estate for sale in houston, katy real estate, houston commercial real estate, real estate in houston area, homes in houston area, houston real estate market, houston real estates, real estate in houston tx area, houston residential real estate, real estate houston tx area, houston area realestate, houston real estate listings, bellaire houston real estate, houston real estate listing, houston area real estate listings

Third law of Real Estate: Your home improvements will not make your home value increase in an amount equal to or greater than what you paid for the improvements. The corollary to the Third Law of Real Estate is that money spent on maintaining your home adds zero to the home’s value (though maintenance will help keep your home value from decreasing).

Have a $25,000 swimming pool installed, and your home value is not auto-magically increased by $25,000. Depending on the pool, the location, nearby amenities and the direction the prevailing wind blows, your $25K pool addition might add 5 or 10K to the value of the home. Or it may in fact, add 0K. Some improvements, especially kitchen and bathroom improvements, tend to have higher rates of payback than others. But there is no improvement that adds equal or more value to a home than what it cost.

That shiny new water heater you added last year, the pretty new roof or that $3,000 air conditioner compressor that was installed last week add ZERO dollars to your home’s value. Oh the fact the water heater, AC and/or roof is newish may appeal to some buyers. That may well be what triggers their decision to buy your home versus another one, but they don’t make the home intrinsically more valuable . Does it suck to dump three grand into an air conditioning repair on a home you’re not even living in? Hell yes it sucks. But try selling a home in Phoenix without A/C. Or without a water heater. Or a roof. You’d have to discount the price of the home at a far greater amount than those repairs would cost in order to sell a home missing such basic functionality. And you’ll cut your potential houston area real estate, real estate texas, houston real estate, real estate in texas, texas real estate, tx real estate, real estate listings, houston texas real estate, real estate in houston tx, real estate houston texas, texas real estate houston, real estate in houston texas, woodlands real estate, houston real estate for sale, real estate for sale houston, real estate for sale in houston, katy real estate, houston commercial real estate, real estate in houston area, homes in houston area, houston real estate market, houston real estates, real estate in houston tx area, houston residential real estate, real estate houston tx area, houston area realestate, houston real estate listings, bellaire houston real estate, houston real estate listing, houston area real estate listingsbuyer pool significantly without those mandatory “features”. If you need to make fundamental repairs, you’re just going to have to suck it up and make them and not expect to recoup any of that money.

Fourth Law of Real Estate: The odds of getting an offer on your home increase exponentially if your real estate agent goes out of town. The corollary to the Fourth Law of Real Estate is your dream home will come on the market 15 minutes after your agent boards a plane.

Seriously! Ask any agent what happens to their business when they go to a conference. Or on a vacation – whatever that means. They’ll tell you that business invariably increases when they leave town. Usually in direct proportion to the level of inconvenience it requires to respond to offers, buyer inquiries, etc. So if you really want to get an offer on your home that is for sale, send your agent on a trip to Hawaii. It’ll work every time…

Buying and Selling Real Estate in Houston

Buying and selling a home in any market is a difficult task, and add that you are in Houston, Texas, the 4th largest metropolitan area in the United States makes it even more important that you work with an agent that knows the market. At Houston Area Realty, we now this market better than any other realtor, and we are ready and willing to get to work for you to find your next dream home, or get the best price for the home you currently own. Fill out the information below, and we will be in contact with you immediately to get the ball rolling on your current Houston real estate need.

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Houston Real Estate: How To Stage Your Home For A Quick Sale

When real estate agents talk about staging your home, they’re referring to a method of decorating that is designed to showcase the home’s best assets, impress buyers and sell quickly for the highest possible price.

Because not all sellers stage their homes, especially homes in lower price ranges, you’ll be at an advantage if you do. Read on to find out how.

Why Home Staging Is Important

Although staging is optional, it really shouldn’t be. When you’re dealing with such a significant financial transaction, you don’t want to be lazy and settle for a lower selling price or a longer marketing period than you have to.

Relative to the amount of time and money involved, staging may be one of the most lucrative projects you ever undertake. Potential buyers aren’t just looking for a structure to inhabit – they’re looking to fulfill their dreams and improve their lifestyles. Staging helps sell those dreamsstaging-your-home-for-sale-1 and creates a more emotional purchase that can generate more money for the seller.

Home staging is also beneficial because potential buyers don’t want to see work that needs to be done upon moving into the home. For every problem they see, they’ll deduct its cost from their offering price. If they see too many problems, they’ll pass altogether.

Staging How To’s
While there are plenty of room-specific staging tips, if you’re on a limited budget, it’s best to focus on big-picture improvements and on the areas that will make the biggest difference in your home’s selling price.

These include the exterior and entryway (both heavily impact a buyers’ first impressions), the living room, kitchens and bathrooms, the master bedroom and outdoor living space, such as a back patio. The following techniques can and should be employed in as many rooms of the house as you can afford and have time for:

Clean
In the kitchen, potential buyers love to see new appliances that come with the home, but if you can’t do that, make the ones you have spotless. No one wants to see splattered spaghetti sauce, films of grease or piles of crumbs in their potential new home. Likewise, make sure your bathroom sparkles, from the corners of the tub to the sink drain to that spot behind the toilet you don’t think anyone can see. Your goal should be to make everything look new.

Declutter
There are two major problems with clutter. One is that it distracts buyers from your home’s features. The other is that it makes it seem like the home doesn’t have enough storage space. Put away knickknacks. Keep in mind that buyers will be interested in your closet space, so tossing everything into the closet to hide it away may not be the best strategy.

Depersonalize
Buyers need to be able to envision themselves in your home, so remove all the family photos, items with family members’ names on them and refrigerator art. Also make sure to put away all the toys and anything else that is highly indicative of the home’s current inhabitants.

Remove Odors
Pets, kids, what you ate for dinner last night, a mildew-covered bathroom and many other conditions can make your home smell. You are probably immune to your home’s smell, so you’ll need to have a friend or neighbor help you out with this one. Inexpensive tricks for ridding a home of odors and giving it an inviting aroma include baking cinnamon-coated apples in the oven, burning vanilla-scented candles, or throwing some slice-and-bake cookies in the oven. It’s also a good idea to grind half a lemon in the garbage disposal to remove sink odors. While you could use a spray to deodorize your home, it might give it a cheap, institutional bathroom smell, which is hardly the image you’re going for. If you’re a smoker and you normally smoke indoors, start limiting your smoking to outside the home and take extra steps to deodorize indoors. Finally, don’t forget to take out the trash.

Define Rooms
Make sure each room has a single, defined purpose. Also make sure that every space within every room has a purpose so that buyers will see how to maximize the home’s square footage. If you have a finished attic, make it an office. A finished basement can become an entertainment room, and a junk room can be transformed into a guest bedroom. Even if the buyer won’t want to use the room for the same purpose, the important thing is for them to see that every inch of the home is usable space. This includes alcoves, window seats, corners, breakfast nooks and so on.

Wallpaper/Paint
It is unlikely that a potential buyer will like your wallpaper. Your best bet is to tear it down and paint the walls instead. Don’t even think about painting over the wallpaper – it will look shabby and send red flags for the buyer about all the work he or she will have to do later.

Custom paint colors are the same way. You may love your orange bathroom, but people’s tastes in colors are very specific and highly personal. While you might think that white walls would be ideal because they create a blank slate that allows buyers to envision their own décor and gives them an easy starting point, it’s actually better to paint your home with warm, neutral colors that appeal to the masses and project the homey image you’re trying to sell.

Flooring
No one wants to live with dirty, stained carpet, especially when someone else made it that way. Linoleum is passé and looks cheap. Though pricey, hardwood floors add value and elegance to a home. They are also low-maintenance, provide great long-term value and are perfect for buyers with allergies. In other words, they appeal to almost everyone, and if not, they’re easily carpeted over by the buyer and preserved for the next owner.

In kitchens and bathrooms, go with ceramic tile or stone if you can afford it. If not, use high-quality vinyl tiles that mimic their more expensive counterparts. If you can’t afford to do that, stick to common areas like the living room, dining room and kitchen. Bathrooms should make the cut too because they have relatively little floor area and therefore won’t be too expensive to upgrade.

Lighting
Take advantage of your home’s natural light. Open all curtains and blinds when showing your home. Add supplemental lighting where necessary. Outdated or broken light fixtures can be cheaply and easily replaced. If you think your existing fixtures are fine, make sure to dust them, clean off any grime and empty out the dead bugs.

Furniture
Make sure furniture is the right size for the room, and don’t clutter a room with too much furniture. Furniture that’s too big will make a room look small, while too little or too small furniture can make a space feel cold. Don’t use cheap college furniture, either. You don’t have to pay a lot of money to switch out your existing furniture and you may even be able to rent it, but the furniture should look nice, new, expensive and inviting. You’ll also want to arrange the furniture in a way that makes each room feel spacious yet homey. In the living room, for example, seating should be set up in a way that creates a gathering area around the fireplace.

Walls and Ceilings
Cracks in the walls or ceiling are a red flag to buyers as they may indicate foundation problems. If your home does have foundation problems, you will need to either fix them or alert potential buyers to the problem. That said, a fix would be better in terms of getting the home sold. If the foundation only looks bad, but has been deemed sound by an inspector, repair the cracks so you don’t scare off buyers for no good reason.

Exterior
Your home’s exterior will be the first impression buyers get and may even determine their interest in viewing the inside. Make sure your lawn, hedges, trees and other plants are well-maintained and neatly pruned and eliminate any weeds. To brighten windows, wash them well, and consider adding flower boxes to brighten them up further. If you can, power wash your home’s exterior – it can make it look almost freshly painted but with less effort and expense. Make sure the sidewalk leading up to the house is clear and clean, and purchase new doormats for the front and back doors. If you have a pool, showcase it by making sure it’s crystal clear. Creating some sort of outdoor living space in the backyard, such as a deck or patio with outdoor furniture, is another way to use the exterior of your home to its greatest advantage.

Last Touches
Just before any open house or showing, make sure that your staging efforts go the full mile with a few last-minute touches that will make the home seem warm and inviting. These include fresh flowers, letting fresh air into the house for at least ten minutes beforehand so it isn’t stuffy, adding a pleasant scent as discussed earlier, and putting new, plush, nicely folded towels in the bathrooms.

Bottom Line
Even if you have plenty of cash, don’t put too much money into the staging process. You want to emphasize the home’s best features, but keep in mind that what sells the home and what will make the home usable for the buyer are not necessarily the same thing. Overall, to get the most bang for your buck, your home staging efforts should be designed to appeal to the widest possible range of buyers. The more people willing to submit purchase offers for your home, the higher the selling price will be.

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thomas davisthomas davis