Archive for July, 2015

2015 Profile of Home Staging

Key Findings
Among REALTORS® who typically represent the buyer, 49 percent report most buyers are affected by home staging and 47 percent report some buyers area ffected by home staging.
For buyers it is easier to visualize the property as a future home (81 percent), buyers are more willing to walk through a home they viewed online (46 percent), will positively impact the value of the home if it is decorated to the buyer tastes (45percent), and buyers are more willing to overlook other property faults (28 percent). 
Among sellers’ agents 34 percent stage all homes, 13 percent stage difficult homes to sell, and four percent stage only high price bracket homes. Forty-four percent suggest the seller de-clutter and fix property faults only and do not stage the home.
The median dollar value to stage a home is $675 for each home.
Among homes that are staged: 62 percent of sellers’ agents offer the home staging services to their sellers, 39 percent of sellers pay for the home before the home is listed, 10 percent of sellers pay after the home is sold, and three percent of agents’firms pay for the home staging service.
The most important rooms to be staged for buyers matches identically to the rooms that are most common to be staged among sellers—in order: living room, kitchen,master bedroom, dining room, bathroom, children’s bedroom, and guest bedroom.
Thirty-two percent of buyers’ agents believe staged homes increases the dollarvalue buyers are willing to offer by one percent to five percent. Nineteen percent say there is no impact on the dollar value, and 16 percent believe it increases the dollar value buyers are willing to offer by six percent to 10 percent.
Thirty-seven percent of sellers’ agents believe staged homes increases the dollarvalue buyers are willing to offer by one percent to five percent. Twenty-two percent believe it increases the dollar value buyers are willing to offer by six percent to 10 percent, 10 percent say home staging has no impact on dollar value, and eight percent say home believe staged homes increases the dollar value buyers are willing to offer by 11 percent to 15 percent.

The San Francisco Chronicle is reporting the Second District Court of Appeals in Ventura has upheld the authority of homeowners associations to charge additional HOA fees to owners who rent out their condominium units to short-term occupants.

“An association is entitled to impose reasonable fees to cover the extra costs of vacationers and other short-term renters, who usually use recreation areas and other facilities more than other residents and are less careful … because they are not concerned with the long-term consequences of abuse,” the Second District Court of Appeal in Ventura said. 

The case doesn’t directly affect the Airbnb controversy over sub-rentals of urban housing units and their impact on housing supply and costs.

The court ruled in favor of Oak Shores, alongside Lake Nacimiento in San Luis Obispo County.

The HOA claimed (based on the own study) “short term rental units incur nearly $900 a year more in costs than those occupied by owners or long term renters”. 

The association charges owners $325 a year to rent their property and imposes other fees on short-term renters and guests, including a garbage-collection fee and charges of $25 a day or $125 a week for bringing watercraft to the lake. 

The fees were challenged by three owners who said they violated a state law limiting homeowners’ association fees to “the amount necessary to defray the costs”.

In upholding the ruling, the appeals court said “California law requires courts to give homeowners associations some leeway in decisions on property cost-sharing”. 

The association’s lawyer, Roy Weatherup, said the ruling clarified an unsettled area of the law and vindicated his client.

 

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