Condo investors: do your due diligence

Did you know that some condominiums have restrictions regarding the rental of units in the complex? Many lenders require a minimum owner-occupancy and many condominiums have rules limiting the number of rental units allowed. Some require that the owner live in the property for a specified period before the property is rented. Move in and move out fees may also be imposed and finally, there may be leasing and application requirements imposed by the homeowners’ association. Before you invest in a condominium as a rental, make sure you and your agent do their due diligence.

Earning my Accredited Staging Professional designation

I am proud to announce that I have recently earned my Accredited Staging Professional designation.  This means that I am able to give my sellers even more value as I help them identify ways to improve the staging of their home as they prepare their home for market.   Did you know that 96.4% of ASP staged homes sell on average in 33 days or less? According to Barb Schwarz, my instructor and the creator of home staging, "The Investment IN ASP Staging Your Home will Always be Less than a Price Reduction ON Your Home!"

Now that I am an Accredited Staging Professional I am able to identify key areas of a home that can be improved by staging, often with little to no financial investment.  As a class project,  I was part of a team of ASP students who staged a $1.6M home on Mercer Island.   When I first entered the home, I was disappointed because the home was beautiful and did not appear to need much help from us.  However, after we were divided into teams and assigned rooms to work on, the magic began.  We removed clutter, shifted furniture from room to room, added color and vignettes in key locations.  After a few hours, the transformation was astounding.  With no financial investment, other than our donated labor, the home was increased in value before our eyes.  The home appeared more spacious, more welcoming, and more valuable.  Our instructor estimated the cost for this transformation would have been approximately $2,000.  What was the increase in value?  The Realtors present estimated a minimum increase in value of $30K.  Do you think staging could help you sell your home?  Give me a call and let's talk!