Tag Archives: housing market expectations

Selling Your Home During The Winter Months May Pay Off

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If you’re waiting until spring to put your home on the market, you may want to reconsider. In general, lower housing inventory means less competition and prospective buyers who want to get into a home quickly are more anxious to purchase.

A study by online brokerage Redfin reports that on average, sellers net more above asking price during the months of December through March than they do from June through November. They also found that “those listed in winter have a 9 percentage point greater likelihood of selling, sell a week faster, and sell for 1.2 percentage points more relative to list price than homes listed in any other season.”

According to Sally Bowman, Broker/Owner of Sally Bowman Real Estate, Cheshire, CT, “The contracts that are written in the winter months are from serious buyers. They may be moving for a change in their job, family situation or retirement.” Bowman also believes, “Buyers that were on the fence during the summer will usually jump in the winter as they realize that mortgage rates will have to go up at some point.” Her best advice for winter sellers is to make your home as inviting as possible by cleaning up the yard, winterizing your lawn, applying a fresh coat of driveway sealer, replacing outdoor bulbs and always keeping the house bright and appealing.

The following is a list of basic tips that sellers should keep in mind to make their property more attractive when listing their home during the winter:

Constant Curb Appeal
Maintain a polished look by keeping gutters clean, garden tools put away and shrubs trimmed. Also be sure to remove any hazards by shoveling, sanding and removing any ice or snow from the driveway, walkways and sidewalks.

Let it Shine
With shorter days, let in as much natural light as possible by opening blinds and curtains. Make sure that all lights are working, light bulbs have been changed, and be sure that the property is well lit both inside and out for late afternoon showings.

Make it Warm and Inviting
Evergreens in pots on the front porch, a wreath on the door and other simple, tasteful holiday decor throughout are all welcoming touches that will go a long way to engage buyers on a gloomy day.

Be Flexible
It’s hard to predict how long a home will take to sell especially with unpredicatable weather conditions. Therefore sellers need to be understanding of unforseen obstacles including rescheduling showings, inspections or closings.

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January 2015 Edition of the Style Report Features Home Design Trends, New Colors and More

The first issue of the New Year of the Style Report, the PJ & Company Staging and Interior Decorating newsletter is out  showcasing the latest trends in color and design for 2015 along with an excerpt from Patti’s article featured in the National Association of Realtor’s blog – Style Staged and Sold – discussing staging for the generation gap. If you haven’t received a copy via email, click on the image link below.

If you aren’t already on our newsletter mailing list please enter your contact information by clicking HERE. We’d be thrilled to add you to our list so you can enjoy ongoing interior design and home staging tips and advice from our team!

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Special Holiday Edition of the Style Report is Packed With Decorating Ideas and Trends for the New Year

Our latest year-end issue of The Style Report, the PJ & Company Staging and Interior Decorating newsletter, has recently been sent out to our readers! If you haven’t received the holiday issue, click on the image link below to get some tips and ideas on holiday décor styles for Thanksgiving, Christmas and Hanukkah. Style trends and predictions for the New Year showcases ideas you can incorporate into your own home. A recap on the current housing market and predictions for 2015 from our realtor friends is also included.

If you aren’t already on our mailing list to receive our monthly newsletter, then you can enter your contact information in the “Sign Up For The Style Report” box featured on our website.

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“Pivotal” 2013 Housing Market Brings High Expectations For 2014

Improving. Strong. Energized. Pivotal. We asked a group of realtors and agency leaders across Connecticut to share a one word recap of the 2013 housing market and gathered together their insights. The consensus – 2013 was a year of change and growth that many hope will carry into the New Year.

“2013 showed a marked increase in sales and expectations,” according to Joel Grossman, sales manager of Calcagni in Wallingford. “2014 will continue the trend with increased sales in both our resale and new homes divisions. Both buyers and sellers will fare well as we expect interest rates to remain low,” he adds.

While Connecticut’s housing recovery has lagged behind much of the country, 2013 gains have the state’s housing market finishing with slow and steady growth.

The Warren Group, which collects data on the New England housing market, recently reported that Connecticut demonstrated a jump in sales growth and pricing for September – the best September since 2007. That momentum has given many realtors we’ve spoken with a brisk start to the fourth quarter and hope for the future.

PJ Louis, sales manager of the William Raveis office in Avon, expects 2014 to be better than 2013 as the economy and new construction numbers improve.

Tight Inventory Conditions Questionable for 2014
We’ve said it over and over again in 2013 – buyer traffic is outpacing seller traffic and tight inventory is boosting pricing. Both in Connecticut and nationally, inventory shortages have been a key marker of the housing recovery.

According to NARS Chief Economist Lawrence Yun’s Housing Marketing and Economic Outlook, in 2014 home pricing could either slow or accelerate – the housing starts will be the deciding factor. He adds that the industry needs to reach 1.5 million starts soon or face a persistent shortage that will impact pricing and affordability.

Staging Gives Sellers a Market Advantage in 2013
This year’s inventory shortages provided sellers with a market advantage in many areas and those sellers who staged their homes were able to leverage that advantage further and capture buyers. The year got off to a busy start and from January on PJ & Company worked on over 25 homes, with many selling in record time after staging.

Statistics released throughout the year also continued to support the benefits of staging. New figures from the Real Estate Staging Association and Staged Homes reinforced that if you want to sell, stage it first.

As the market evolves in 2014, we asked realtors why staging a home for sale will continue to be important in today’s real estate market.

“A home that is staged or as I like to say, “romanced”, stands out from the competition. There are many benefits to staging a home for sale besides exciting the agents in the community to show and sell. A staged house is memorable, a staged house is often “move-in” ready and perceived as a great value.”
Joel Grossman, Calcagni, Wallingford 

“For my sellers staging brings the most value in the shortest amount of market time over their competitors. Staging makes the home appealing to the largest variety of buyers.”
Lorraine Amaral, William Pitt Sotheby’s International Realty, Danbury

“Today’s buyers demand clean, fresh, organized homes to become excited in their purchase process. Sellers who fall into distressed, tired home syndrome will be rejected by buyers unless very low priced. A home is either really exciting or boring! Anyone can list a home, not all can get it SOLD! A staged home is exciting!- Ruth Ratner, CT Properties/Keller Williams, Cheshire 

Hopeful for 2014
As we look ahead to 2014,the biggest hope for many is that the housing market will continue to recover to stable levels analysts will define as healthy. Ruth Ratner of CT Properties/Keller Williams shares with many in the industry hope for continued increases in listings and sales that will drive the market and allow buyers to find affordable, move-in ready homes.

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