Tag: real estate

Home Staging Richmond VA

Home staging is a part of our complimentary concierge services we offer at Tina Morris Co, and we consider it to be one of the most important steps in marketing your home. When we team up with our Professional Staging Team to create a plan for our clients, our main goal is to create a warm and inviting environment, focusing on the best architectural features and selling points. We want to help potential buyers visualize the property as their future dream home.

Let’s look at some statistics on why home staging is so crucial in the real estate market.

1. Homes Sell Faster

According to the National Association of Realtors, staged homes typically sell 88% faster than non-staged homes. This statistic alone highlights the impact that staging can have on the speed of a home sale.

2. Increased Sale Price

Staged homes also tend to fetch a higher sale price. The Real Estate Staging Association reports that staged homes can sell for up to 20% more than non-staged homes. This significant increase in sale price is a compelling reason to invest in staging.

3. Enhanced Buyer Appeal

Staging helps potential buyers envision themselves living in the space. By creating a welcoming and attractive environment, staging can make a property more appealing to a wider range of buyers, increasing the likelihood of a successful sale.

40% of home buyers are more willing to visit a staged home they saw online.

Staging helps 81% of buyers find it easier to visualize a staged property as a future home. This means that staging can significantly impact how potential buyers perceive a property and envision themselves living in it.

Additionally, staging prompts 27% of buyers to overlook property faults. By highlighting the positive aspects of a home through staging, potential buyers may be more willing to overlook minor imperfections or issues.

Buyers also tend to linger in staged homes an average of 40 minutes—compared to just 6 minutes overall. This extended time spent in a staged home indicates that buyers are more engaged and interested in properties that have been professionally staged.

4. Competitive Edge

In a competitive real estate market, staging can give sellers a crucial edge over other properties. Staged homes stand out in listings and showings, making them more memorable to potential buyers and increasing the chances of receiving offers.

5. Positive First Impression

First impressions are key in real estate. Staging a home ensures that it makes a positive impact on buyers from the moment they walk through the door. This initial impression can set the tone for the rest of the viewing and influence a buyer’s decision-making process.

Tina Morris is a top real estate agent in Richmond, VA. Together, we can create a customized plan for selling and marketing your home, including the staging process.

Let’s look at some of our recent staging projects!

Ask us about our complementary staging services at Tina Morris Co!

Cathy Heleniak

2 months ago

The True Strength of Homeowners Today

The main benefit of buying a home in Richmond is that our housing market is strong and building home equity is one of the best ways to build wealth.

Richmond homeowners are wondering what’s going on with the Real Estate market and how home values will hold up with the recent shift. The article below gives a great overview of the benefit of buying a home in Richmond.

The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.

Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:

“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983.”

She continued on to say:

“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”

What Is LTV?

The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:

“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price.

You can also think about LTV in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value. So your LTV ratio is 80%.”

Why Is This Important?

This is yet another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008, when many owed more on their homes than they were worth.

Bottom Line

Homeowners today have more financial strength than they have had since 1983. This is a combination of how homeowners have handled equity since the crash and rising home prices of the last two years. And this is yet another benefit of buying a home in Richmond and why homeownership in any market makes sense.