Well, as we here in Marin County get what seems like all of our yearly rainfall in a week, the market is staying hot! We are seeing a continuation of multiple offers in a number of cases, and interest rates are staying relatively low--under 4% for 30 year fixed rate money. There was a brief rate spike for a few hours mid-week when one of the Fed Open Market Committee members voted against keeping rates down (he lost 9-1, but the fact that he dissented at all briefly pushed rates up). They quickly dropped after a few hours' raise. The message from here is that it's still a GREAT time to sell, and, if you're buying, the continued low rates certainly make it very attractive to buy.
For those of you thinking of selling, one important thing to keep in mind is making your home as attractive as is reasonably possible, short of doing a total remodel. The best way to do so is staging. Staging basically covers a wide range of options: from simply decluttering to doing limited remodeling and painting. The idea behind it all is that it makes potential buyers see your home in its best possible light--and think that if they buy your house, it will always look like it does once it's staged. In reality, it probably won't, but that's not the point. The point is that it gets them looking as positively at your home as is possible. That, in turn, increases the chance that they'll make you an offer, and an offer that is at or close to your asking price! How much difference does staging really make? Well, a recent survey shows that 94% of staged homes sold in an average of 29 days on the market, compared with an average DOM of 145 days for non-staged homes. Also, the question is often asked by sellers: how much will all this cost me, and will I get my cost back? Well, recent statistics on that issue show an average return on staging investment/cost of 299%! In other words, if you spend, say, $10,000 to stage your home, you could expect, on average, to get a return of $29,900 more on your sale price. Sounds pretty good, doesn't it?
If you have questions about staging--or anything else regarding your home or interest in the market, call us. We'd be happy to help you! Peter: (415) 279-6466; Jane: (415) 531-4091.