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ANY ADVICE PLEASE!!!! We need to sell our home. Is it ever a good idea to sell a home, before it is staged?

Asked by , Sat Jun 28, 2008

My husband and I differ in opinion. The closing on our new home is August 8th. (We made arrangements for financing) Our current home we need to sell, is full of our boxes, personal items. We don't have the time or money to move twice, so storage isn't an option. He says just list it now and people can see through all our stuff. The price range is around $130k, he thinks people don't expect so much in this price range. I say we must wait until the closing, get everything mostly out, stage, then list for sale. Which way is in our best interest to get it sold quicker? Can anyone please offer an opinion as to what you would do!!! Help!!

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Other advice is good, but I think they may have missed your point. You say that because you don't have the time or money to move twice, you can't store the material; you want to wait until you close on the new house, then stage and list.

You'd better find a way to store your items. Otherwise, you're stuck between a rock and a hard place. Your husband's wrong. The house needs to look good to sell.

But I'm concerned about your strategy of waiting until you close on your new home before you put your current one up for sale. You close August 8. Allow a couple of weeks (minimum) to clean, repaint, stage, and list the property. So it goes on the market right around Labor Day. You've missed the market for families who want to buy and move before the new school year. While early fall is an OK time to sell a home, the market in many places is slow. If you don't find someone pretty quickly, you're sliding into November and December, when the market really slows down.

Ask yourself: Are you prepared either to: (1) cut your price sufficiently in the fall, if necessary, to sell it quickly, or, alternatively, (2) carry two mortgages from August 2008 to perhaps March 2009? That's what you're risking, in today's market, by holding off on putting your present home on sale until you close on the new one.

Rent some storage space for a few hundred dollars. Move the stuff out now. Stage now. List now. It'll be a lot cheaper than cutting your price substantially or paying two mortgages for 6-8 months.

Good luck.
5 votes Thank Flag Link Sat Jun 28, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Thanks to everyone, PLEASE keep any advice coming! Financing I guess is relevant! I neglected to state that our home to sell is PIF, no mortgage. The new home we have creatively financed low monthly pays, no closing costs. Our intent is too sell this home and payoff the new one in full. I know it seems backwards to most, but we found the home that we always wanted and cannot risk losing it. I now realize that I must stick with my original thought....STAGE.....1st.......ANY MORE ADVICE IS VERY WELCOMED, KNOW A BETTER WAY TO DO THIS????? PLEASE SHARE!
1 vote Thank Flag Link Sat Jun 28, 2008
Remember that timing issues are highly conditioned on local market characteristics. The fall & early winter have traditionally been a good time to sell in our area-better even than summer some years. So, price and condition are most important even compared with the time of year you are hitting the market.

The advise previously given about thinking hard about carrying two mortgages is worth thinking long and hard about, though. You don't want to get in to a situation where it becomes urgent to sell quickly, forcing you to negotiate more than you should.
1 vote Thank Flag Link Sat Jun 28, 2008
The first thing I would tell you is NOT close on your new home until you get your old home SOLD! If you have no money to put things in storage how are you going to make 2 house payments? Your are not even close to the staging process because you ar going to mess this up. "Don not close on the new home until you close on the old one"
1 vote Thank Flag Link Sat Jun 28, 2008
Get it ready first. Homes need to be priced properly and show-ready in this market. You'll want to have nice photographs online to attract potential buyers, you want to look better than the competition for showings, etc. You will get top dollar, quicker if you do it right. Of course, consult your friendly local REALTOR(r) for specific guidance on this. =)
1 vote Thank Flag Link Sat Jun 28, 2008
I understand that this house is paid in full and your new house will have a small mortgage, in this situation you can afford to wait until you close and move to put your house on the market, but sometimes there are ways we can arrange the boxes or use a basement, garage or attic to store them. It will be a shame for you to lose the buyers that are coming now, $130,000 range is what is selling .

Cristina Mirassol
Key Real Estate of the Poconos
Office:(610)849-0405
Cell :(201)207-6264
cristinamirassol@hotmail.com
http://www.cristinamirassol.com
0 votes Thank Flag Link Thu Apr 30, 2009
Stage your home! Staging sells. Don't over do it though. I walked into a home with a client that was "over staged," and my client felt a bit claustrophobic. Sometimes the best staging is done with a simple rearranging of your own furniture to accentuate focal points in a room. Countertops in kitchens and bathrooms should not be over cluttered to show counter space. Borders sells many books that talk about staging and how to do it if you are looking for some more direct ideas. I found some of them to be very enlightening.Good luck to you!
0 votes Thank Flag Link Thu Nov 20, 2008
Given your new information, it sounds like you could wait until you move. Having the property paid off, and a mortgage on the new home secured. you could take your time to stage and sell. Who knows, the market could take a turn for the better. However, if you sold your home now, it sounds like you wouldn't need a mortgage at all for the new home, saving you in interest, taxes, insurance and closing costs.
The very best of luck to you.

Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
michaelddelp@verizon.net
http://www.mortgagepro.instantlender.com
0 votes Thank Flag Link Sun Jun 29, 2008
Staging is critical in the current market, where you are likely competing with many other properties in the same geographic area and price range. Staging is another marketing tool to help you sell quicker and/or for a higher profit. The majority of buyers need to be shown the true potential of a house--they do not have the imagination to see past your stuff. Best of luck!
0 votes Thank Flag Link Sat Jun 28, 2008
I know this is redundant but the two previous answers are totally on target, especially in this market. Buyers in any price range are going to be comparing your home to others on the market. If your home doesn't show as nicely as other homes, they will not even make an offer. If they don't like the pictures in the MLS, they won't make an appointment. PODS or self storage is a good idea. Try to find a storage place that offers a really low 1st month's rent. like $1. This way it won't be so bad if you store your stuff for July and move in early August. I also recomend staging the home with furniture, etc. after you move out. An empty house is harder to sell than a lived in one.

Go here to get free tips and reports on selling your home such as "5 things to do before putting your home on the market." http://www.yourlifemoves.com/free_reports.shtml

Best wishes,

Kelly Gidzinski
Long & Foster Real Estate, Inc.
0 votes Thank Flag Link Sat Jun 28, 2008
The old saying "you never have a second chance to make a good first impression" is true. Unless your home is being marketed as a "fixer upper" wait until it's show ready. Buyers tend to have selective memories. You don't want them remembering your home as "the one with all those boxes piled up." If they can't see past the clutter, they can't see all the good things about your home. Do you have PODS in your area? It would be an additional expense to store your belongings, but you'll see that money again at the closing table.
0 votes Thank Flag Link Sat Jun 28, 2008
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