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Home Staging Toronto Blog

Home Staging Helps Sell Toronto Homes for More

Posted by StagingWorks on August 29th, 2010

 

The two top priorities for home sellers are ensuring that their property sells quickly and that they maximize their selling price (ie: equity) during the sale.

 

At StagingWorks, we believe that there are five key factors that determine how successful your home sale will be. These factors include:
* The prevailing market conditions
* Your location
* Your asking price
* The home presentation
* Your choice of realtor

 

Generally speaking, the market conditions when you sell and your current property’s location are factors beyond your control.

 

Elements more within your control are the asking price, how your home presents to potential buyers and choosing an effective realtor.

 

In this post, we’ll touch on the benefits home staging provides as an effective marketing tool to ensure that your home presents well to potential buyers.

 

The top five benefits professional home staging provides to Toronto sellers include:

 

1) Higher impact marketing material – which draw more showings

Staged homes present better in MLS photos, feature sheets and other marketing material. Higher impact photos create an immediate good impression and draw more showings.

 

2) Differentiation from competitive listings

Don’t forget that you have competition. Buyers have options. To effectively differentiate your listing, your home should ideally show better than alternative listings at the same asking price. Home staging ensure thay this occurs.

 

3) Sell for more

Think about it. It just makes sense. Buyers are looking for a property that they feel is “move in ready”. When buyers connect with your home, asking price typically becomes a secondary consideration.

 

On the other hand, if buyers feel that the home requires work, but the asking price has not been reduced accordingly, they will be expected a significant price reduction. You can take this issue off the table by ensuring your home looks its best and shows to its full potential.

 

4) Sell faster

Statistics show that staged homes sell on average twice as fast as homes that are not staged. A property that shows better attracts more buyers and increases the likelihood of selling more quickly.

 

5) Get peace of mind

Rest easy knowing that your home shows to its full potential.  Now, look forward to negotiation and closing the deal.

 

 

Independent of market conditions, home staging is a highly effective marketing tool used to maximize the selling price of homes and condos.  

 

StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve Toronto, GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell, and get a free home staging estimate.   Or, call us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

 

StagingWorks has been voted Toronto’s top home stager by Toronto Life.

Best of the City   Toronto Life

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Toronto home sales down 20% in the first half of June

Posted by StagingWorks on June 20th, 2010

Residential real estate listings up 21%.

 

Greater Toronto Realtors reported 4,139 sales through the Multiple Listing Service® (MLS®) during the first two weeks of June 2010. This represented a 20 per cent decrease compared to the 5,185 sales recorded during the same period in 2009. New listings increased by 21 per cent annually to 7,985.

 

“The pace of existing home sales in the GTA has slowed to more normal levels following a record-setting start to 2010,” said Toronto Real Estate Board President Tom Lebour.

 

“Due to higher mortgage carrying costs, sales in the second half of 2010 will not be as high as what was experienced during the last six months of 2009.”

 

The average price for June mid-month transactions was $437,039 – up seven per cent compared to the average of $407,716 recorded during the first 14 days of June 2009. “The seller’s market conditions experienced during the first few months of the year have given way to more balanced conditions. Home buyers are experiencing more choice,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “With more choice in the market place, price growth is starting to slow.”

 

Summary Of June Sales And Average Price

City of Toronto (sales -20.3% | price +4.0%)
2010 Sales: 1,681 | Average Price: $467,983
2009 Sales: 2,023 | Average Price: $449,946

Rest of GTA (sales -28.6% | price +9.2%)
2010 Sales: 2,458 | Average Price: $415,876
2009 Sales: 3,162 | Average Price: $380,698

All of GTA (sales -25.3% | price +7.2%)
2010 Sales: 4,139 | Average Price: $437,039
2009 Sales: 5,185 | Average Price: $407,716

 

Home staging is a highly effective marketing tool used to maximize the selling price of homes and condos.   StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve Toronto, GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell, and get a free home staging estimate.   Or, call us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

Popularity: 27% [?]

Housing market to moderate: CMHC

Posted by StagingWorks on June 17th, 2010

The following article by Tony Wong was published recently in the Toronto Star.   Home staging is a key component to maximizing the selling price of your home.

 

Existing Toronto area home sales up 7% over last year

 

Sales of existing homes will hit six digits for the first time by the end of this year, creating a new record. But 2011 will look “quite different” as the market ratchets down, says a report by the Canada Mortgage and Housing Corporation released Wednesday. “The era of rock bottom mortgage rates is coming to an end and the red hot Greater Toronto Area housing market will begin to lose its steam,” said Shaun Hildebrand, senior market analyst for the CMHC.

 

The CMHC is forecasting that sales will pass the 100,000 mark for the first time to 101,000 by the end of 2010, while average prices will also increase to a record $444,000. The peak of the market was in 2007 when sales hit 95,000.

 

However, the federal housing agency is also warning that prices “could come down” sometime in late 2010 or 2011. But they are saying any declines will be minimal or short lived.

 

The CMHC expects the upward streak of price appreciation to continue into 2011 resulting in 16 consecutive years of increases. They are forecasting that prices will increase slightly by 1.7 per cent at the end of 2011.

 

The CMHC report is at odds with some other analysts including economist David Rosenberg who has said national prices are overvalued by as much as 30 per cent. The TD Bank recently revised their forecast to say that prices nationally will come down by 2.7 per cent instead of increasing next year. Their previous forecast was for a 1.6 per cent increase.

 

“There is a question of whether the bidding wars in Toronto have caused prices to overshoot,” said Hildebrand. “There is also the question of whether buyers will respond more negatively than expected to higher interest rates, but we think prices will likely hold.”

 

The CMHC says prices will likely flat line after 2011 as affordability becomes an issue.

 

“Five year mortgage rates will be a full percentage point higher by the end of the year. Combining higher rates with the new reality of average prices well above $400,000 will make the transition to homeownership more expensive,” said Hildebrand. “The erosion of affordability will cause delay for many first time buyers.”

 

For now, the market is showing few signs of a slow down, although more supply is evident.

 

In a separate report released by the Toronto Real Estate Board on Wednesday, existing home sales in the Toronto area market were up by 7 per cent in the first two weeks of May compared with the same time last year.

 

The board reported that 4,887 sales occurred through the Multiple Listing Service.

 

The average price for May mid month transactions was $448,641, up by 12 per cent compared with $399,811 last year.

 

One encouraging sign for buyers is that new listings are up by 48 per cent.

 

“The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace,” said Jason Mercer, the board’s senior manager of market analysis.

 

The most fragile sector of the Toronto market continues to be high rise development, where the CMHC expects 17,000 condos will be completed in the Greater Toronto Area this year, with another 16,000 completed next year.

 

The CMHC expects 10,000 of these condominiums, purchased by investors will be placed back on the market over the next two years.

 

“The added supply will lead to softer price growth for high rise units relative to low rise homes,” said Hildebrand. “With fewer buyers competing for more homes, bidding wars will become less common and prices will face little upward pressure.”

 

Some mitigating factors in the Toronto economy include stronger income and job growth and higher net migration which will help to keep the market stable, said the CMHC.

 

Employment is expected to rise by 1.5 per cent in 2010 and wages by 2.5 per cent.

 

“These are pretty big numbers for the first year out of recession,” said Hildebrand.

 

StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve the GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell and get a free home staging estimate.   Or, contact us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

 

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Toronto resale home sales down 1% in May

Posted by StagingWorks on June 17th, 2010

StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve the GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell and get a free home staging estimate.   Or, contact us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

 

Greater Toronto Realtors reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.

 

“The pace of transactions slowed in May following record-setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”

 

New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.

 

“The gap between listings and sales has widened, which means there is more choice for buyers,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.”

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10 Best Kept Secrets for Selling Your Home

Posted by StagingWorks on May 7th, 2010

Tricks of the trade to help you get top dollar when selling your home.

 

Selling Secret #10: Pricing it right

Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

 

Selling Secret #9: Half-empty closets
Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

 

Selling Secret #8: Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

 

Selling Secret #7: Play the agent field
A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the multiple listing service (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

 

Selling Secret #6: Conceal the critters
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

 

Selling Secret #5: Don’t over-upgrade
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

 

Selling Secret #4: Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

 

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

 

Selling Secret #2: Always be ready to show
Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

 

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

 

StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve the GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell and get a free home staging estimate.   Or, contact us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

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