Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
jordysmamma, maybe this was what Jake was referring too??
"Bank of America looking for deeper cuts"
Bank of America looks for deeper cuts - CharlotteObserver.com (http://www.charlotteobserver.com/2011/01/22/1999675/bofa-looks-for-deeper-cuts.html - broken link)
Thank you very much. I appreciate your info.
The article does not say anything about layoffs specifically in Charlotte. Additionally, a lot of those jobs will be in the servicing area of loan mods. When loan mods are no longer needed, they will begin to cut the operations staff that handles them. So, in theory, when loan mods and foreclosures are not comanding such an enormous staff, other areas will.
With all of the inventory in the area, it is a buyer's market AND they can be afford to be choosy. SOO everyone listing their house should honestly think about staging their house. Homeowners looking to sell need to start thinking of their house as a product they are trying to sell. Home buyers almost always want move-in ready homes they can envision their own belongings in. Buyers also will tend to over-estimate the upgrades and repairs they want to make, and in turn will ask for a credit (or price reduction). I am an Interior Designer (not trying to advertise) and watch a bunch of those design to sell shows on HGTV and they REALLY work. If you are willing to put in $2000-5000 of hard work, you will be able to get a higher return and a FASTER sale. PLEASE people, DECLUTTER and take down those family photos and pictures on your refrigerators and CLEAN CLEAN CLEAN! If anyone would like to email me a picture or a few pictures, I can give them advise on what they can do. I recently updated my kitchen and bath cabinets with sand paper, primer, and paint and they look GREAT! its amazing what even $50 worth of upgrades can do to your home. New bedding and a fresh coat of paint in the master. .....get rid of your collections on your shelves BY HALF. show all the SPACE to store things, not your stuff.
With all of the inventory in the area, it is a buyer's market AND they can be afford to be choosy. SOO everyone listing their house should honestly think about staging their house. Homeowners looking to sell need to start thinking of their house as a product they are trying to sell. Home buyers almost always want move-in ready homes they can envision their own belongings in. Buyers also will tend to over-estimate the upgrades and repairs they want to make, and in turn will ask for a credit (or price reduction). I am an Interior Designer (not trying to advertise) and watch a bunch of those design to sell shows on HGTV and they REALLY work. If you are willing to put in $2000-5000 of hard work, you will be able to get a higher return and a FASTER sale. PLEASE people, DECLUTTER and take down those family photos and pictures on your refrigerators and CLEAN CLEAN CLEAN! If anyone would like to email me a picture or a few pictures, I can give them advise on what they can do. I recently updated my kitchen and bath cabinets with sand paper, primer, and paint and they look GREAT! its amazing what even $50 worth of upgrades can do to your home. New bedding and a fresh coat of paint in the master. .....get rid of your collections on your shelves BY HALF. show all the SPACE to store things, not your stuff.
No offense intended, Purple, cause I agree- typically, staging helps a house sell - but in this market . . . staging cannot compensate for 1. no buyers in certain price ranges, and 2. falling prices.
Let's face it: with so many foreclosed homes slashed to prices "below market value" (a questionable term, at best) . . . if folks are trying to decide between that foreclosed home at $229K and the one just like it that is decorated well for $289K . . . the Pottery Barn accessories in the kitchen ain't gonna be the determining factor, lol.
No offense intended, Purple, cause I agree- typically, staging helps a house sell - but in this market . . . staging cannot compensate for 1. no buyers in certain price ranges, and 2. falling prices.
Let's face it: with so many foreclosed homes slashed to prices "below market value" (a questionable term, at best) . . . if folks are trying to decide between that foreclosed home at $229K and the one just like it that is decorated well for $289K . . . the Pottery Barn accessories in the kitchen ain't gonna be the determining factor, lol.
It's true... lipstick on a pig. If the kitchen and floors are $#@!, I don't care how much you stage it. I would save the $60k and do it myself.
That's the biggest issue for sellers right now - the "core" of the house can't fool a savvy buyer. Bottom feeding neighborhoods and bargain shopping with more and more to choose from every day.
It's true... lipstick on a pig. If the kitchen and floors are $#@!, I don't care how much you stage it. I would save the $60k and do it myself.
That's the biggest issue for sellers right now - the "core" of the house can't fool a savvy buyer. Bottom feeding neighborhoods and bargain shopping with more and more to choose from every day.
...i am not a decorator and am by no means suggesting accessories can sell a house. Redoing kitchen cabinets, finding a granite supplier, and updating flooring and light fixtures are all part of what I am talking about. If you bought your home in the 90s and only decorated it once, and have the builder's finishes (or overly customized) will need updating. Buyers will look at your home as a "fixer-upper" even if it needs cosmetic changes. Brass light fixtures over dining tables, hung at the wrong height, can make a buyer hesitant. I don't fix houses for a career, but I do give sellers advice because there is proof it works.
...i am not a decorator and am by no means suggesting accessories can sell a house. Redoing kitchen cabinets, finding a granite supplier, and updating flooring and light fixtures are all part of what I am talking about. If you bought your home in the 90s and only decorated it once, and have the builder's finishes (or overly customized) will need updating. Buyers will look at your home as a "fixer-upper" even if it needs cosmetic changes. Brass light fixtures over dining tables, hung at the wrong height, can make a buyer hesitant. I don't fix houses for a career, but I do give sellers advice because there is proof it works.
There is proof it has worked in the past . . . and it certainly invites a buyer if the price is right in today's market.
But I think the point Mikey is trying to make (and certainly is the point I am making) - is that it really doesn't matter if the house is updated or not in this market, unless it is priced at rock bottom in line w/ the foreclosures around it. The foreclosure situation is horrific and in many neighborhoods, folks are under water on their mortgages and have lost all equity - and can't sell their homes even when slashing the price.
For example, a home that sold for $600K in 2007 may be on the market now for $420K due to foreclosure and being in a neighborhood full of foreclosures. A seller who has his/her home for sale for $489K in that same neighborhood isn't gonna sell it no matter how many updates, additions, upgrades, landscaping, etc he/she does . . . so it is more or less just money down the drain if one is doing it to "distinguish" the house from others in the neighborhood. The house isn't gonna sell no matter what the owner does, unless he/she can lower the price to under $420K - and that is assuming a buyer is willing to move into a neighborhood w/ high % of foreclosed homes.
Of course, if someone is in a neighborhood where there are not numerous foreclosures, all the houses are priced the same, and the homeowner can do some inexpensive upgrades to make his/her home stand out from the crowd, it is always smart to make the best impression possible.
With all of the inventory in the area, it is a buyer's market AND they can be afford to be choosy. SOO everyone listing their house should honestly think about staging their house. Homeowners looking to sell need to start thinking of their house as a product they are trying to sell. Home buyers almost always want move-in ready homes they can envision their own belongings in. Buyers also will tend to over-estimate the upgrades and repairs they want to make, and in turn will ask for a credit (or price reduction). I am an Interior Designer (not trying to advertise) and watch a bunch of those design to sell shows on HGTV and they REALLY work. If you are willing to put in $2000-5000 of hard work, you will be able to get a higher return and a FASTER sale. PLEASE people, DECLUTTER and take down those family photos and pictures on your refrigerators and CLEAN CLEAN CLEAN! If anyone would like to email me a picture or a few pictures, I can give them advise on what they can do. I recently updated my kitchen and bath cabinets with sand paper, primer, and paint and they look GREAT! its amazing what even $50 worth of upgrades can do to your home. New bedding and a fresh coat of paint in the master. .....get rid of your collections on your shelves BY HALF. show all the SPACE to store things, not your stuff.
With so many homes empty and so many under their mortgages, staging a home is not going to do it like it has in recent years. Two years ago a well staged home would have gotten it sold, mine sold while others sat but it is a whole different world these days..price and price only seem to be the contributing factors.
With so many homes empty and so many under their mortgages, staging a home is not going to do it like it has in recent years. Two years ago a well staged home would have gotten it sold, mine sold while others sat but it is a whole different world these days..price and price only seem to be the contributing factors.
I don't know because I'm not in the business but there are some high end homes selling that I would assume are based more than just price. I also assume that it depends on things like view and floorplan in these places. Still, maybe a staging would help increase desirability? I don't know. I just find these numbers interesting (self compiled).
Neighborhood Price # Sales
LAKE NORMAN 860000.00 25
BLUESTONE HARBOR 322500.00 11
LOOKOUT POINT 1085000.00 3
PENINSULA 600000.00 33
PLAYERS RIDGE / SPRINGWINDS 530000.00 9
One thing that hasn't gone away is the cliche LOCATION... no doubt. We shouldn't forget.
Price, location, and condition - yah? Pretty much what any agent will tell you. It's just that my point is you have to hit all 3 hard to sell. Staging to a certain degree may help - but only in the context of pricing aggressively against the non staged competition.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
