Housing forecasts by experts often don't turn out as expected. For example, sales of existing homes increased by 5.2 percent in February to a seasonally adjusted annualized rate of 6.91 million units, according to a report from the National Association of Realtors. Most analysts predicted a downturn in sales. Leading economists were expecting sales of about 6.52 million, according to a survey conducted by MarketWatch.
However, the supply of unsold homes rose by 5.2 percent in February to 3.03 million. That's close to the all-time record of 3.04 million in 1986. That inventory represents 5.3 months supply of home inventory. NAR still predicts a lower level of home sales this year. Existing home sales are expected to fall 5.7 percent to 6.67 million units during the year ? down from the record 7.08 million last year.
New home sales are expected to drop by 7.7 percent this year. New home construction starts will probably total 1.98 million this year, down 4.3 percent from last year. As for home prices (nationally), they are expected to increase by about 5.4 percent this year. The 30-year,, fixed-rate mortgage will probably increase gradually during the year to about 6.9 percent by the fourth quarter, according to NAR.
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Asking why staging is a vital aspect of home selling is kind of like asking "why bother to clean before the show?" Years ago before staging had not really been defined in the real estate industry, the process was already being done to some extent on most home sales. It is just in recent years that the need has presented itself in enough force to found a whole new business sector. Home staging is now all the rage in the home selling sector and as a result, buyers are expecting more of a presentation when they view a home. In turn, home stagers have turned the average home sale into a fully designed and carefully coordinated showpiece complete with new art and custom furnishings.
The difference is evident when viewing a staged home versus an un-staged one. The difference is actually quite alarming. A staged home is utilizing all the space in the home to show off it's various assets as opposed to using the space for mere storage. Also much of the time our furniture is an extension of our personalities and a distinct personality can be difficult for some buyers to get past. Visually the homes should lack the sellers personal tastes in art, furniture etc. Many home stagers hold a larger inventory of furniture that can be utilized to accent any room perfectly. Other stagers have simply learned how to accent a room using existing items. Most will be fully capable of both and will make their decision based on the quality and "show value" of the items that are currently there.
With so many homes on the market and the number of qualified buyers in question, it has become a necessity to present the best possible home package. Competition for buyers is stiff all over the country and well presented homes are definitely catching their attention. The big question is "can you afford not to put yourself in that percentage of well presented homes?" In today's real estate market, the reality is that homes need to have an impressive package to garner the kind of buyer interest that's necessary to sell a home. Staging is a great way to garner that positive attention.
Both Jim M. Woodard & Kevin & Gretchen Koitz are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jim M. Woodard has sinced written about articles on various topics from Finances, Sell Home. Copyright 2006 LowQuoteLeads.comSyndicated real estate columnist and feature writer Mortgage / Real Estate Update Report www.LowQuoteLeads.com. Jim M. Woodard's top article generates over 5400 views. to your Favourites.
Kevin & Gretchen Koitz has sinced written about articles on various topics from Sell Home, Real Estate and Work From Home. With over 19 years of experience in real estate Gretchen Koitz has proven herself to be one of the top agents in . For professional and intellige. Kevin & Gretchen Koitz's top article generates over 12100 views. to your Favourites.
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