Earlier this week, the National Association of Realtors (NAR) reported that sales of existing homes are at their highest level in over two years which bodes well for home stagers.
It is believed that Obama’s $8,000 tax credit for qualified first-time home buyers has been a driving force behind these high sales levels. The tax credit deadline, which was supposed to be at the end of November, has been extended to April 30 which will give more first-time buyers the chance to dive into the real estate market and take advantage of this tax credit. And that is great news for home stagers because it will help boost demand for staging in the new year.
The group of buyers home staging has the greatest impact on is the first-time home buyer.
These buyers often have the strongest emotional response to homes that have been staged. Since they’ve never had the experience of buying a home before, this is the group most worried about the responsibilities that come with being a homeowner. They are also the least realistic about how great a house they can get in whatever their price range is.
A well-staged home is not plagued by a bunch of repair projects, ugly wallpaper or an abundance of clutter that would scare off many first time buyers. Home staging helps them see the home in its best light and it helps them imagine themselves living there. Not only that, it creates the “I can just move right in” feeling that would comfort a nervous first-time buyer.
On Monday, I’ll post some information on what’s happening with the Canadian real estate market. In the meantime, for more information about the economy and how it can affect your home staging business, please download my free Ask Staging Diva report: Can I grow a home staging business in a depressed economy?
Debra Gould, The Staging Diva®
President, Six Elements Inc. Home Staging
Debra Gould developed the Staging Diva Training Program to create opportunities for others to grow their own profitable home staging businesses. Debra encourages anyone concerned about starting or growing a home staging business in today’s economy to download her free special report: “Ask Staging Diva: Can I grow a home staging business in a depressed economy?”
[tags]real estate, home stagers, home staging, first time buyers, real estate news, staging diva, debra gould[/tags]
I couldn’t agree with you more that the tax credit is helping home BUYERS. Unfortunately, where I live, SELLERS still have little to no money to spend on staging. The buyers are benefiting when buying, and the sellers are benefiting because their home is selling, but the sellers still have no UP FRONT $$$ to stage. Fortunately, my business encompasses more than home staging so I am fortunate to still be working! I am, however, the eternal optimist and truly believe my home staging business will turn around next year. I’m laying the groundwork NOW.
Staging To Sell
Home Staging For Sellers . Interior Design & reDesign
231.690.0398
Jill R. Monczunski
President/Designer
http://www.staging2sell.com
jill@staging2sell.com
Sellers have money to spend on staging when they REALLY understand the financial benefits to them of doing so.
Really, the cost of a home staging consultation, that could mean the difference between selling now and selling in a year from now (and the carrying costs that go with that not to mention the price reductions they’ll take along the way) is less than what they’ll likely spend on that next big screen TV, impulse purchases for the kids, tickets to a concert, on and on.
It’s all about choices.
Yes, I’ve noticed an increase in calls and jobs for home staging! It’s great so far. Just wonder what the market will do when the $8000 expires….?!!
Debra,
Your points regarding first time home buyers are well taken. About the extension of the $8,000 first time home buyers’ credit until April 30, it has been further amended to include not only first time home buyers, but a $6,500 credit to any home buyer who has been in their home for at least 5 of the last 8 years. We stagers should truly see a robust spring market. Get ready!
Home Staging is NOT an expense. It is an INVESTMENT in a seller’s bottom line, pure and simple. And, Home Staging can be a tax deduction as a selling expense. So, there’s nothing to lose and more money to gain!