Setting the stage for house-buying season

January 24, 2011|By Alan J. Heavens, Inquirer Real Estate Writer
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  • A house for sale in Millis, Mass., looks tended despite snow. "You need to pull every trick out of your hat in order to even get a showing," one agent said.

The spring real estate market is approaching, and this year there is no federal tax credit to get wary buyers off the fence.

A recent survey of 3,500 U.S. homeowners and renters conducted for the National Association of Realtors by Harris Interactive found that 60 percent of those who would like to own a house worry about job security and creditworthiness.

That said, some area real estate agents say they think the market may be rebounding because prospective buyers fear interest rates are permanently back on the upward trajectory and they need to get in the game.

B. John Duffy, president of Duffy Real Estate on the Main Line, said that sense "may have been fueled by the slight rise in mortgage interest rates," now 4.74 percent from a record low 4.17 percent in November.

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In a market where financial motivation is canceled out by financial apprehension, the state of each house for sale becomes even more important to getting a deal done.

Buyers are still looking for "perfection, with comfort," said John B. Badalamenti, an associate broker at Prudential Fox & Roach Realtors in Wayne.

"As a result of the staging craze, buyers have become a bit spoiled," Badalamenti said. "Homes are almost being put on the market as museum pieces. You can bounce a dime off a bed."

Said Carol Sabatelli, an agent with Weichert Realtors in Media: "Right now, you need to pull every trick out of your hat in order to even get a showing."

Staging has become big business and is often recommended for hard-to-sell houses and potentially easy ones alike.

"It is rare to find a home that does not need some suggestions for showing," said Diane Williams, an agent with Weichert Realtors in Spring House. "In fact, I find that sellers ask about it because they are familiar with the TV shows or articles on staging."

When she goes to a listing appointment, Williams - who has a real estate designation qualifying her as an expert in staging - can quickly tell whether the house needs tweaking or major changes. If only minor touches are required, she gives the homeowners "suggestions to make the house more showable."

And, of course, it should be "Q-tip clean," as Williams' staging course recommended.

After-showing feedback is important, too, even though many sellers do not want to hear buyers' opinions.

"Gone are the days when buyers were willing to settle for anything," said Cheryl Miller, of Long & Foster Real Estate in Blue Bell.

"The Wizard of Oz has had the curtain pulled back."

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