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How to stage your home

Edit décor, add fresh accessories

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staging, gay news, Washington Blade

It’s important to stage your home correctly when selling.

When it comes to home staging, many people think it means getting rid of all your “stuff” and replacing it with furnishings from the stager, so it can look like the homes on HGTV. However, most of us have too many things in our homes, so effective staging can simply mean editing the items you already have and adding the accessories that will dress up the room and give it a freshly designed look.

Whichever path you choose, thoughtful staging will make you more money and sell your home faster. The reason is that the positive or negative emotional response that occurs in buyers’ minds when they walk into a room happens before their rational thought process can kick in.  Even before buyers can think about price and location, their emotions have registered a “yes” or “no” response. So, it’s smart to make everything look beautiful and stylish as soon as buyers walk in your front door; that way, half of the work in selling your home will be done for you.

How do you evoke a positive emotion in a buyer? Here are a few guidelines you can follow:

• Start by Cleaning and Clearing. Before you begin staging your home, clean out your normal accessories and start with a clean slate. Since staging is about what you already have, take inventory of your furniture and décor so that you know exactly what you’re working with.

• Focus on Attracting, not Distracting. Be strategic in your style decisions. Place items in such a way that enhance the great aspects of your home. For example, if you want to show off your high ceilings, decorate the room with taller lamps, high back chairs, a long mirror, or anything else that draws the eye up.

• Keep it Small and Simple. Remember that less is more and you don’t need to go overboard with decorating. A single elegant candle or seasonal wreath on your door does so much more for your home in a buyer’s eye than an overabundance of mismatched trinkets.

• Maintain a Sense of Anonymity. It’s important to remove individuality in the home. Pack away family photos and the children’s artwork. Again, buyers want to be able to see themselves living in your home and it’s hard to do that with when your personal possessions are around.

• Consider all Five Senses. Stirring up emotion doesn’t just happen by sight, but can often be captured by smell, too. Naturally, you’ll want to get rid of any sources of bad odors. As for infusing the room with positive smells, stick to scents that are clean and refreshing, such as lemon, vanilla, cedar, basil or pine.

These guidelines will get you started in staging your home for market. Remember, work with your real estate agent; he/she probably has nearly as much experience as a professional stager and can recommend stagers, painters and contractors who can get your house looking its best when it has its debut in the marketplace.

Donna Evers is the owner and broker of Evers & Co. Real Estate, the largest woman-owned and -run real estate firm in the Washington metro area, and the proprietor of Twin Oaks Tavern Winery in Bluemont, Va. She is a regular contributor to the Washington Blade and frequently appears on TV and radio as an expert on the D.C. real estate market. Reach her at [email protected] or follow her team on Twitter @EversCo.

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Real Estate

Make the most of the market and keep a positive perspective

Home sales are slowing and interest rates are rising

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Home sales are slowing as interest rates rise, but there are silver linings.

Over the course of the last year, what was once a red-hot housing market has experienced a cool-down. Home sales have been slowing, and interest rates are rising as the Federal Reserve continues to try and tame inflation and soaring prices. Rates are currently sitting at their highest point since late 2008, and are more than double their level a year ago. 

Any time interest rates rise and the market slows down, concern is understandable – but there are always silver linings, and viewing the market from a broader historical perspective is important. A few of those silver linings include:

• Interest rates remain historically low: Since the end of 2021, mortgage interest rates have jumped by more than 2 percentage points, climbing above 6% as of September 2022. As a result, mortgage payment amounts have also risen. It’s easy to look at rising interest rates and higher mortgage payments and worry – but when viewed in perspective over the course of the last several decades, rates are still very low. According to Freddie Mac, over the past half-century, rates have averaged nearly 8 percent, and in the early 1980s, even reached as high as 18 percent. When considered in that context, today’s housing market is still far healthier than at other points in recent history.

• Inventory is up: Another benefit of the current market is that inventory is up. For those interested in purchasing a home, this means that there is a wider variety to choose from, and time can be devoted to truly finding a home that checks all of the boxes, rather than simply rushing to make an offer on one of the few that are available.

• Offers are more likely to be accepted: The fact that more inventory exists in the current market allows buyers to potentially place a reasonable offer on a home and have it accepted. This is a stark contrast to the situation of a year ago, where buyers frequently had to rather worry about engaging in an ongoing bidding war where prices became inflated and offers were less likely to be accepted. 

Ultimately, conditions are much better in the real estate market now, even with slightly rising interest rates, than they were the last time the housing market went through a major correction. In fact, following the subprime mortgage crash of 2007 and the subsequent recession, home values dropped by nearly half in some markets. Millions of borrowers found themselves underwater on their mortgages, and many buyers were hesitant to make purchases in such a difficult and unpredictable market.  Currently, many expect that while home appreciation may decline slightly, it will likely remain above the historical average.

While the market may not be as robust as it was a year ago, there are still plenty of positives. A key aspect of making the most of any market is finding a real estate agent who can guide you through the process and help you reach your goals. This can make all the difference between a smooth and successful experience, and a stressful one. At GayRealEstate.com, we’re here to help you find the perfect agent for your needs.

At GayRealEstate.com – We’re Here for You

One thing is certain about the real estate market – over time, it will change and fluctuate. There will be ups and downs. At times it may be ideal for sellers, at other times, more ideal for buyers. Regardless of how the market shifts, however, one thing is constant – at GayRealEstate.com, we’re here for you. It is our passion to connect LGBTQ home buyers and sellers across the country with excellent and experienced LGBTQ-friendly realtors who know and love their communities. We are committed to helping you achieve your real estate goals, whatever they may be. If we can help you, visit us at GayRealEstate.com today to get connected and get started. 

Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at 303-378-5526 or [email protected].

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Business

Maryland LGBT Chamber holds expo

Business event held in Columbia, Md.

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Maryland LGBT Business Expo. (Washington Blade photo by Linus Berggren)

Over 35 Maryland LGBT Chamber of Commerce member businesses and organizations participated in the 2022 LGBT Business Expo in Columbia, Md. on Thursday, Sept. 15.

Panels and presentations at the event covered a variety of business topics, including:
We will also feature panel talks and presentations on a variety of business topics throughout the afternoon including: “Master Your Budget: 3 Simple Steps to go from Surviving to Thriving” presented by Financial Coach, Amy Scott; How we got our Rehoboth Beach cottage (without saving up for it)… And how YOU can too!!!” presented by the Retire on Real Estate author, K. Kai Anderson and “Why and How to get your small business LGBTQ Certified”, presented by NGLCC.

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Real Estate

Standing on both feet in the current real estate market

Interest rates are up and contingencies are back

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Buyers have more power than they’ve had in recent years.

Gone are the days of a home receiving 25 offers and going well over asking price by more than $250,000. One would think…

The housing market in our immediate area as well as most of the United States has changed from what we’ve seen during the earlier pandemic days. Here in the nation’s capital, we have seen a market that is more in keeping with what we have historically seen. The fall market this year has brought on a substantial amount of new inventory to the market, which is consistent with earlier market trends. We have seen the prices reduce a bit and we have seen days on market linger a bit. But what exactly is going on here?

RISING MORTGAGE RATES

For two years we saw a wild real estate market that was fueled by the need for more space, new space, fresh space, and insanely low interest rates. The lack of inventory in the market also assisted in allowing sellers to get substantial amounts of money over their asking price and left buyers giving everything away. Since then the landscape has changed. Due to higher than the “old normal” interest rates, the market has begun to correct itself a bit. I would like to point out that the interest rates are NOT the only reason for the market correcting itself, this is also due to the influx of inventory coming to the market. Buyers now have so many options to look at, things to consider, and time is truly back on their side in order to make a more sound and informed decision when it comes to home ownership.

Please don’t get it twisted — if a home is well photographed, well marketed, and well priced in addition to having a brilliantly charming Realtor at the open house — it will surely sell with several offers and over asking. That is just no longer the norm.

TIT-FOR-TAT NEGOTIATIONS 

Although we no longer live in a world where sellers can expect to receive $250,000 above asking, we also don’t live in a world where buyers can expect to offer 30-50 percent less than asking and expect for the results to be positive. Similar to dating – we are back to a more intimate handholding experience when it comes to both the home buying and selling experience. As a seller it is important to ensure that your home is in tip-top shape while pricing it properly. As a buyer you should ensure that you have a great pre-approval, provide an appropriate EMD and realize that now you can include CONTINGENCIES! Yes! Once again, you can actually have a home inspection, financing contingency and even a radon test if you are feeling frisky. Those are the most valuable changes in the market for buyers.

INFLATION OR INFLATEGATE?

While turning on the news might be grim these days between inflation, the stock market, and interest rates – home prices are still over 6 percent more expensive than this time last year. If you look at the job market for example, unemployment is at an all-time low. You are still getting paid every week and if your manager makes you angry enough you have the flexibility to quit one job and find another relatively quickly. This mindset combined with an increase in active home listings and decrease in demand – you will likely still say: “Let’s go buy a home.”

Justin Noble is a Realtor with Sotheby’s international Realty licensed in D.C., Maryland, and Delaware for your DMV and Delaware Beach needs. Specializing in first-time homebuyers, development and new construction as well as estate sales, Justin is a well-versed agent, highly regarded, and provides white glove service at every price point. Reach him at 202-503-4243,  [email protected] or BurnsandNoble.com.

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