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Old 01-26-2018, 06:55 AM
 
1,528 posts, read 724,410 times
Reputation: 2062

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Quote:
Originally Posted by MrLinderman View Post
Not sure what exactly you're asking here. That being said there is a world of difference between Mattapan and Weymouth. Weymouth is just kind of blah. Large swaths of Mattapan are really bad.

The "How rude" was a joke though
Still not cheap by most of the country's standards!
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Old 01-26-2018, 07:47 AM
 
364 posts, read 195,034 times
Reputation: 341
Quote:
Originally Posted by MikePRU View Post
One of the very first things they teach you about pricing houses when you become a real estate agent is that what the owner paid for the house is completely irrelevant to what the house is worth today. For example, your house may appreciate at a faster rate then the one a couple blocks away that's exactly the same except that it abuts some railroad tracks.
No kidding, really they teach such eye opening stuff to real estate agents? Such a secret! For nicer South Shore towns, including in lesser neighborhoods, the point remains a $200K increase since the GFC isn't out of the ordinary nor high. On the other hand, $1.3 does appear relatively high compared with nearby homes with a similar # of brs, bathrooms, etc. Asking too much?
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Old 01-26-2018, 08:15 AM
 
917 posts, read 402,858 times
Reputation: 2270
What is the average days on market for homes at that price point, in your local market?

Even if there are oodles of them on the market for that amount, it doesn’t mean they’re selling for that, or quickly. Know what I mean?
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Old 01-26-2018, 08:37 AM
 
Location: Medford, MA
101 posts, read 66,266 times
Reputation: 236
Quote:
Originally Posted by 2houses.oh.no View Post
How does staging work? How much does it cost? Would we rent or buy furniture/accessories? Someone suggested that the RE agent sometimes pays for it. Is that common? Thanks!
Agree with MikePRU that it's between you & your agent with regard to who pays for it--I've seen agents pay, owners pay, and split between the two. Also agree that the cost can approach $3k or more, but in my experience the high end is when a fair amount of furniture is needed.

Staging can be anything from sprinkling a few accessories & re-arranging what you have to advice on painting & needed updates & roomfuls of furniture. In this case the agent & stager should be suggesting ways in which you can improve how the house shows & flows, not just adding accessories (although that should be part of it). Whether you decide to interview other agents or stick with the one you have, ask specifically about that. And the marketing plan should expand on that idea & showcase it. There's been some good advice here, but you really need someone to take a hard look at the house & then give you solid advice.

At the end of the day you choose what you are willing to do, but IMO if you want to maximize your return that is how you have to approach it. How much $$ & time am I willing to expend & what is the estimated return?
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Old 01-26-2018, 08:55 AM
 
1,528 posts, read 724,410 times
Reputation: 2062
There's a lot of talk about potential costs to stage and I think we all understand that this can vary greatly. However, the costs given were only for the monthly rental. I think it would be useful for consumers if someone explains how the whole model normally works and anything that they should be wary of. Otherwise just giving part of the cost (if it's really only part of it) can mislead the consumer.

For example:
Do they pay for the stager to "design" the staging and oversee its installation? What about move in and removal costs for the furniture? Other costs like any required insurance? Minimum rental periods? Does the stager work by the hour? Get paid by the rental companies based on what is ordered? etc.
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Old 01-26-2018, 10:13 AM
 
Location: Medford, MA
101 posts, read 66,266 times
Reputation: 236
Quote:
Originally Posted by just_because View Post
There's a lot of talk about potential costs to stage and I think we all understand that this can vary greatly. However, the costs given were only for the monthly rental. I think it would be useful for consumers if someone explains how the whole model normally works and anything that they should be wary of. Otherwise just giving part of the cost (if it's really only part of it) can mislead the consumer.

For example:
Do they pay for the stager to "design" the staging and oversee its installation? What about move in and removal costs for the furniture? Other costs like any required insurance? Minimum rental periods? Does the stager work by the hour? Get paid by the rental companies based on what is ordered? etc.
I think the specific answer would depend on the specific agent who brings in the stager, the extent of what is needed, and how they go about their business. The agent should be able to provide a "not to exceed" number at the get-go, and a detailed explanation of what will be provided. The time aspect could definitely impact the price, particularly when furniture is involved.

The $3k+ number I supported was my past experience with a full service stager--consult, furniture, labor, for a month. There should be a discounted price for subsequent months, if needed.

Again, in my experience, furniture is by the month, whether from a rental company or directly from a stager who has an inventory. I can't imagine needing it for less than a month, and there may be some who would charge by the week after the minimum time had passed, not sure...

The stager/agent should supervise everything, unless they were only called in to tell the owner how to best rearrange their own furniture and accessories, which can sometimes be the case.
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Old 01-26-2018, 11:44 AM
 
10,608 posts, read 13,373,641 times
Reputation: 17153
Quote:
Originally Posted by hingham-x View Post
The main house (3000sf) - the two gambrel roof sections - consists of first floor kitchen, dining area, living room, half bath, den, and sunroom/laundry. One the second floor is the master bedroom and bath, and two small bedrooms, with a den/playroom and another bath in between. The third floor has two bedrooms, half bath, and little study area. This is the section we lived in.

There was an addition (1000sf) added 20 years ago off the kitchen that is an in-law apartment consisting of one bedroom, a full bath, kitchenette/wet bar, and an open living space. It's soundproof and has it's own thermostats in each room. I used that whole apartment for my business.

The barn is finished inside on the first floor and has a bath/kitchen area. Upstairs is unfinished. Can have home business with up to 3 employees. Because of the pool you can have a full kitchen.

The buyer has to be someone who is going to make use of the various options that make it different from a 4-bedroom colonial, OR, It has to be someone with deep pockets that wants a very private but not isolated setting and can redo everything - gut it. Add central air, garage, etc. Have amazing parties/movies in the barn, connect it to the house and so on. That is what other people in my neighborhood have done - Bought a house for $1.7-1.8 and worked on it for a year before moving in.

My husband is a commercial airline pilot and wants to be away from people when he gets home so he refused to live in a cul de sac/neighborhood. And because he has a different schedule every month, with kids, it was impossible for me to work full time in Boston so the work-at-home option was perfect. The house was a perfect fit for us. I thought it might be for someone else, too, but I guess I was mistaken. I'd put a maker-space or shared office setup in the barn and use the in-law apt bed/bath for parents/guests visiting, etc. Multi-generational/work at home...

Maybe it should be marketed differently so it's easier to understand/imagine?
First, I love the house and property. That being said, my first impression on the listing itself:

1. You nailed it ^^. So you answered your own question LOL.

2. Your agent's description is a blob of stream of consciousness.

3. Staging. Better to have none than for example, that little corner IKEA computer desk shoved into that corner, there. And you may not see it but I see clutter. YOU may use it for your kids to keep them in that room ....(family room?) but it conveys "no space" to strangers. Same with the giant armoire next to the (living room?) fireplace. And other rooms. Why are there two occasional chairs blocking the French doors' exit to the outside in that one room...Living room? Can't tell. #10. You're also blocking those custom built-ins there, with the old sofa. You can remove it. Nobody wants to envision themselves having to block a focal point of a room to sit down.

I'm sure you thought you were staging it but I'd call it negative staging.

4. Nobody is going to agree that it's a "chef's kitchen". Maybe it's the photos. Is that the ENTIRE kitchen? For me, it's a gut if I have a family of six (if that's even possible). There's no real workspace for a family. The fridge is nice - is it new? A buyer who cooks is going to need to close off that opening to whatever that other room is there, and get some more sq footage/wall space, IMO. Hard to tell with just a fragment of a photo.

5. The fireplace stains give a "deferred maintenance" type of vibe. Same with the roof on the back, there's a portion with some weird wear showing. And some dead landscaping should be removed. And the stuff climbing up the walls and walkway canopy. I'd get all the trees pruned before listing it again.

6. The electric baseboard heating is sort of a red flag.

7. REALLY poor photos. You can't get any type of feel about that interior. And where's the BARN stuff? I fired an agent for those type of photos and they were better than these LOL. You can't even see the Audrey Hepburn room's bones with the fabric climbing up the wall and it looks like it's hiding something if you're a suspicious buyer. Same with the giant period wooden bed squeezed into the corner in the pink room. Stage it! Or remove most of the stuff. Why are there little lamps on all the bathroom sinks, for example?

LOL she didn't even take a photo of the FULL staircase but chopped it off half way. I assume that's the ENTRY?

And she didn't even take a decent photo of the only beautiful room of the entire house - the sunroom. I assume it's a family room addition (with the electric heat)

Where is the " first floor In law/au pair suite, Childrens suite"?? And what IS a "children's suite"? A playroom?

8. What's up with the bathrooms? Is that the master? Or half of it? With one sink? Kitchens and bathrooms sell houses. What is that grey entryway or room with a towel bar?

9. Then there's the flooring. Mostly covered with rugs. Are the floors faded around the rugs? The trim and paint looks good. But the older valances and stuff convey "old". And I see wallpaper beyond the dining? What is that? Maybe it's the room with the French doors.

10. Right under your listing it says:

69.17%
More expensive than
nearby properties

I don't think you were getting serious buyers.

And it's always PRICE. Unless there's some magic here that nobody can see.

Again, I love the house/property and it gives a sort of "Kennedy Compound" sort of vibe where you can picture a bunch of kids having fun and running in and out of all those little secret rooms or whatnot.

And I have imagination and don't need to see staging and tricks BUT for SURE I'd have to love the property and be prepared to be willing to see it as an almost fixer to even come for a showing.

People are shopping for a lifestyle if they're not visionary renovators. They're not feeling it with the older mismatched furniture, bookcases full of clutter and stuff. This is not an insult...that's just how people are. You want to convey PLENTY Of space for everything, not that you're squeezing stuff into tiny old choppy rooms.

Especially when they see renos on television. And I'm from Washington Crossing PA, FULL of period homes from the 1700's. A mix-mosh doesn't work in those type of houses.

Because to take on all the WORK and EXPENSE of your home they've got to LOVE it. And if they don't they've got to have a reason to live in exactly that location.

Lastly, do some research on your realtor. The one I fired was showing ALL the other condos in my HOA except mine. Because they were all easier to sell during the crash. The least she could do with those crappy photos is label each one - as to what we're looking at!

Good luck!

Last edited by runswithscissors; 01-26-2018 at 12:38 PM..
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Old 01-26-2018, 12:36 PM
 
Location: Needham, MA
6,324 posts, read 9,023,459 times
Reputation: 5324
Quote:
Originally Posted by Laowai View Post
No kidding, really they teach such eye opening stuff to real estate agents? Such a secret! For nicer South Shore towns, including in lesser neighborhoods, the point remains a $200K increase since the GFC isn't out of the ordinary nor high. On the other hand, $1.3 does appear relatively high compared with nearby homes with a similar # of brs, bathrooms, etc. Asking too much?
Wow! That's an awfully snarky response. Yet taking on a sarcastic tone does not make your previous statement any more correct. Saying "well they're asking $X more than they paid" just has no basis in reality when it comes to real estate.

While a $200K value increase on a house in Hingham wouldn't be unusual in that time period, you're making a generalization based on the direction of the overall market and this house is clearly one that will follow a different curve because of it's more limited appeal. You also have no idea if what they paid when they bought it was a reasonable price either. I've seen tons of people pay more for a house because it had features that held great appeal for them and them alone. When they go to sell it they're always shocked at what it sells for because they didn't realize that the features they love have little to no value for the average buyer. That doesn't make a house bad. It's just tailored to a specific person's taste.

I completely understand where the OP and their agent are coming up with the price. The house right across the street sold for $1.3M a few years back. So, with the market going up and this house having a similar number of bedrooms/bathrooms/square footage/etc. why wouldn't this house sell for more? That's really too high a level of analysis though especially for this house which is so unique.

Quote:
Originally Posted by runswithscissors View Post
10. Right under your listing it says:

69.17%
More expensive than
nearby properties
That's not terribly uncommon for Massachusetts as our housing lacks uniformity. I drive through my neighborhood everyday and see a mix of large, new(er) homes surrounded by older, smaller homes. The larger homes often sell for at least 50% more than what the smaller homes will sell for.

The OP has mentioned that their neighborhood is a bit of a mix as well.
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Old 01-26-2018, 02:45 PM
 
30 posts, read 27,529 times
Reputation: 32
Quote:
Originally Posted by Schmooky View Post
What is the average days on market for homes at that price point, in your local market?

Even if there are oodles of them on the market for that amount, it doesn’t mean they’re selling for that, or quickly. Know what I mean?
An earlier comment mentioned average DOM for $1-1.5 in Hingham was 39 and 49 sold in the past year. (Not verified, just repeating what was said.)
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Old 01-26-2018, 03:43 PM
Status: "Will Fall ever arrive???" (set 18 days ago)
 
689 posts, read 617,818 times
Reputation: 566
Default One answer

Quote:
Originally Posted by 2houses.oh.no View Post
Can any real estate professionals give me some insight as to why this house has not sold? It has been on the market since May in a really hot town south of Boston. The realtor has had tons of open houses, advertising, brochures, traffic, showings. Not a single offer.

Obviously it's not professionally staged. We emptied it out a few months into the process. There is still old stuff in the basement and barn, not a lot, but some. What's your gut feeling? I took it off the market yesterday. Plan to realist in the spring. You can be honest, I really want to sell it and need help! Thanks!

https://www.realtor.com/realestatean...3_M43347-40237
[CENTER]SaveSave[/CENTER]
It's always about the price no matter what in RE.
If you lower the price you will get it sold.
Once I made the mistake of lowering it too fast people came to see it based on the ad for $365k and I had already lowered it to $355k, but I got it sold!
Just lower it by a set amount every 2 weeks and advertise it on Zillow with lots of photos you DO NOT need a Realtor, just put the phrase "RE brokers/agents protected" meaning if a RE agent brings you a buyer you will pay their normal "split" percentage, like 2.0 % You keep the other half as if you were an agent. All completely legit. Also make sure you put the phrase "as is" on all paperwork.

Last edited by SailCT; 01-26-2018 at 03:45 PM.. Reason: typos
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