[5-DayForum] Putting Lipstick on a Pig

[Bill Effros]

Allison,

I don't believe that putting lipstick on a pig is what sells it.

Clean your home.  Get it as nice as you can.  The market will tell you 
what it's worth.

Stick to the rule in the book.  If you are not POSITIVE you will get 
back $2 for every $1 you spend--don't spend it.  You'll put more money 
in your pocket at the end of the day.

Staging is rubbish as far as I'm concerned.

Bill Effros



Allison Babb wrote:
>
> So that makes me wonder about staging...... 
>
>  
>
> Given your analogy, would it be safe to say that staging your home 
> does /not/ make it sell at a higher price?  That's what stagers say 
> all the time---that staged homes sell for more money.  Given your 
> analogy, sounds like staging may get your home sold sooner but not 
> necessarily at a higher price than an identical non-staged home? 
>
>  
>
> Or were you saying that this /particular/ market you shouldn't expect 
> to get more $$ for extras and staging, but you may indeed get more $$ 
> for extras and staging if we were in a "seller's market?"   Just 
> curious.....
>
>  
>
> --Allison
>
>  
>
>  
>
> ------------------------------------------------------------------------
>
> *From:* 
> 5-dayforum-bounces+babb1=comcast.net at mailman.howtosellyourhomein5days.com 
> [mailto:5-dayforum-bounces+babb1=comcast.net at mailman.howtosellyourhomein5days.com] 
> *On Behalf Of *Bill Effros
> *Sent:* Monday, September 03, 2007 3:54 PM
> *To:* How To Sell Your Home in 5-Days
> *Subject:* [5-DayForum] The Toyota Analogy
>
>  
>
> David,
>
> We've discussed this situation before.
>
> If 2 identical Toyotas are offered for sale at the same time, but one 
> has a sunroof and the other doesn't, the one with the sunroof will 
> sell first, but they will both sell at the same price.
>
> No one will pay you extra for the upgrades, just as you didn't pay the 
> builder extra in the first place.  If prices continued to decline you 
> can expect to get less than you paid.
>
> There is no harm in pointing out all the extras, just don't think that 
> will increase the selling price in this market.
>
> Bill Effros
>
>
>
>
>
> capndave2k at netscape.net <mailto:capndave2k at netscape.net> wrote:
>
>
> Hi All,
>
>  
>
> We are running our sale this weekend 9/8-9.  The home is a highly 
> upgraded 1710 sq. ft. 3/2 in Surprise AZ.  It was delivered to us from 
> the builder in May 2006 (I was working in Arizona at the time).  The 
> market had already begun to decline at that time and the builder was 
> actually forced to reduce the contract price because they were 
> offering many more incentives to new buyers at the time which reduced 
> the appraisal.
>
>  
>
> That having been said.  I'm pretty sure that I have many more 
> amenities in this house than you would find in virtually any other 
> house with the same plan in this community.  What I was thinking was 
> that I would include a summary list of the builder upgrades including 
> the original price as part of the information packet and make the 
> Construction and Design Center work orders available to for the 
> buyer's inspection. 
>
>  
>
> My thought is that it would let the buyers see that this particular 
> house has more "added value" than what they will see elsewhere.  We 
> know and will have told them that we are expecting to take a loss on 
> the house so hopefullly this would encourage them to calculate the 
> value of the home for themselves.
>
> What do you think?  Would this be helpful or harmful? 
>
>
>
> David Cron
>
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