Real Estate Information Archive

Blog

Displaying blog entries 1-3 of 3

Get Staging with the All-Star Team!

by Kim Moore, All-Star Stager

Home Staging means preparing a home for sale by making the home appealing to the highest number of potential buyers.  Unlike decorating, staging is not about personal style, it is about creating inviting spaces to inspire buyers. 

Some valuable tips for staging your home include:

Decluttering

The most important thing you can do to prepare your home for sale is to get rid of clutter. As the Old adage goes, for every new item that comes in, an old one has to leave. One of the biggest contributors to a cluttered look is having too much furniture. When professional stagers are preparing a home for market, we often suggest the sellers take away as much as half of their furnishings.  The home will look much bigger for it. This approach may seem drastic, but try to take a good look at what you have and ask yourself what you can live without.  After all, you are moving anyway. 

Create a Balanced Space

To make a room appear bigger, paint it the same color as the adjacent room(s). If you have a small kitchen and dining room, a seamless look will make both rooms feel like one big space.

Try using the same neutral paint color in all of the first rooms you see when you enter the home for a better flow. 

Home Lighting

One of the most important things that make staged homes look so warm and welcoming is great lighting. To help with this problem, increase the wattage in your lamps and fixtures, and don’t depend on just one or two fixtures per room.  Make sure you have several different types of lighting including overhead, pendant and table and wall lamps. 

Neutralizing is Appealing

Painting a living room a fresh neutral color helps tone down any dated finishes in the space. Consider painting in a warm, neutral hue. These days, the definition of neutral can extend way beyond beige, from warm tans and honeys to soft blue-greens. As for bold wall colors, they have a way of reducing offers, so go with neutrals in large spaces.

Staging with Trio’s

Mixing the right accessories can make a room more inviting. When it comes to eye-pleasing accessorizing, odd numbers are preferable, especially three. Scale is important, so in your group of three be sure to vary height and width, with the largest item at the back and the smallest in front. For maximum effect, group accessories by color, shape, texture or some other unifying element, stagers suggest.

Fluffing up the Landscaping

Not only does good landscaping give you the highest return on your money, but it also can literally transform the exterior look and feel of your home. 

So take a look at some of the before and after pictures below and let us know how we may help you prepare your home for listing!

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:

After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually.

These wild swings in values were caused by abnormal ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.

When the market hit its peak in 2007, homeowners and builders were trying to take advantage of a market that was fueled by an “irrational exuberance.”

Inventory levels grew to 7+ months. With that many homes available for sale, there weren’t enough buyers to satisfy the number of homeowners/builders trying to sell, so prices began to fall.

Then, foreclosures came to market. We eventually hit 11 months inventory which caused prices to crash until early 2012. By that time, inventory levels had fallen to 6.2 months and the market began its recovery.

Over the last five years, inventory levels have remained well below the 6-month supply needed for prices to continue to level off. As a result, home prices have increased over that time at percentages well above the appreciation levels seen in a more normal market. 

That was the past. What about the future?

We currently have about 4.5-months inventory. This means prices should continue to appreciate at above-normal levels which most experts believe will happen for the next year. However, two things have just occurred that are pointing to the fact that we may be returning to a more normal market.

1. Listing Supply is Increasing

Both existing and new construction inventory is on the rise. The latest Existing Home Sales Report from the National Association of Realtors revealed that inventory has increased over the last two months after thirty-seven consecutive months of declining inventory. At the same time, building permits are also increasing which means more new construction is about to come to market. 

2. Buyer Demand is Softening

Ivy Zelman, who is widely respected as an industry expert, reported in her latest ‘Z’ Report:

 “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets.

Indicative of this, our broker contacts rated buyer demand at 69 on a 0- 100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey.”

With supply increasing and demand waning, we may soon be back to a more normal real estate market. We will no longer be in a buyers’ market (like 2007-February 2012) or a sellers’ market (like March 2012- Today).

Prices won’t appreciate at the levels we’ve seen recently, nor will they depreciate. It will be a balanced market where prices remain steady, where buyers will be better able to afford a home, and where sellers will more easily be able to move-up or move-down to a home that better suits their current lifestyles.

Bottom Line

Returning to a normal market is a good thing. However, after the zaniness of the last eleven years, it might feel strange. If you are going 85 miles per hour on a road with a 60 MPH speed limit and you see a police car ahead, you’re going to slow down quickly. But, after going 85 MPH, 60 MPH will feel like you’re crawling. It is the normal speed limit, yet, it will feel strange.

That’s what is about to happen in real estate. The housing market is not falling apart. We are just returning to a more normal market which, in the long run, will be much healthier for you whether you are a buyer or a seller.

Finding our “Why?”

by Adam Watkins

As we enter the fourth and final stretch of 2018, there’s a lot of activity going on in our business.  As many of you know, I have the honor and opportunity to serve in the capacity of President of the Mississippi REALTORS in 2019.  So much of the planning and preparation for that comes in the months and years prior to assuming the role.  Needless to say, it’s been a growing experience, and my hope is that my service will help to improve the lives of our members and the clients and communities we serve.

As part of that duty, I’ve had the opportunity to participate in various leadership training sessions to prepare me for the role.  This past August, I joined incoming state and local presidents in Chicago for the National Association of REALTORS’ Leadership Summit.  We were challenged to develop “our story” to share with others regarding what this business means to us, and to use it to inspire others to remain committed to the ethical ideals of being a REALTOR.  I like to think of it in terms of a personal testimony of sorts.

The truth is there are a variety of stories that have developed over the years that help us relate to our clients and customers.  For example, the story of how I lost money one time on a home I purchased and had to bring a check to closing to cover the difference, in order to help empathize with clients in similar circumstances.  Or the story of my first home purchase and my overwhelming, but illogical, feelings of regret and fear that set in once I’d signed the contract - to help first buyers get past the stereotypical “buyer’s remorse” after contracting a home for purchase.

Beyond this, though, is an overriding story for why I am so passionately committed to this industry and what it represents.  In our last staff meeting of September, our entire team spent some time sharing and developing our individual “stories” about what drew us to the business.  My personal challenge to each of them, and to myself, is to consider what it is that we actually do for people on a daily basis.  For me, the reason goes back to my childhood upbringing and the blessing that owning property can mean for a family.

Real estate was an integral part of my family’s story.  My dad was the youngest of ten children born in the second quarter of the 20th century in rural Perry County.  They were born into extreme poverty, and every child had to take part in providing for the needs of the family.  As a result, the opportunity for higher education was not available to them.  In fact, my dad and only a few of his other siblings graduated high school or earned their equivalency certificate, because the need to work in order to feed themselves was so great.  The remainder of my aunts and uncles never completed formal schooling.   The necessity of providing for their basic needs required a strong work ethic that developed amongst the ten siblings.  It also birthed the dream of escaping their circumstances.  Growing up with very little instilled in them a sense of thriftiness and investing.  Over time they begin investing in land, and building homes, and by the measure of their beginnings, by-and-large, were extremely successful.  Real estate literally became the rope that they used to pull themselves out of poverty!  In the process, they changed the trajectory of our entire family.  My cousins and I were afforded much better opportunities than my dad and his siblings had when they were young.  In one generation, the combination of hard work, responsible decisions, and real estate investing created a foundation that allowed my brother, sister, and me to pursue careers and dreams that my dad could never attain.  I am convinced that there is no other land on earth, where a family like theirs – with seemingly so little opportunity – could have achieved so much in a single generation.  Real estate was a huge part of that story, and I am so very thankful for it!

So, you see, when I look at what we do, I don’t see it as a business.  I see it as a mission to change the lives of people for the better by extending the opportunity to own and invest in real estate to any who can responsibly enjoy it.  It’s not only my “why,” but it’s the collective “why” for all of us at The All-Star Team, REALTORS.  We are honored and thankful to be in a position to bring the benefits of property ownership to people every single day.

Adam & Team

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Contact Information

The All-Star Team, REALTORS®
Bringing you home...again and again!
4 Willow Bend, Suite 2A
Hattiesburg MS 39402
601.545.3900
800.335.6477

The All-Star Team, REALTORS brings you over 200 years of accumulated experience along with the most innovative marketing strategies in the real estate industry. We specialize in the real estate properties located in Hattiesburg, Oak Grove, Petal, Sumrall, Purvis, Columbia, and the entire Pine Belt region. Put The All-Star Team, REALTORS® to work for you as you consider your next home sale or purchase. Experience the team approach to real estate and make us your REALTOR® for life! See how The All-Star Team, REALTORS® really is bringing the Pine Belt home again and again.