How Fannie Mae is leveraging technology to expand access to homeownership

Fannie Mae is taking important steps to help the mortgage industry close the racial housing gap, achieve equality within the housing industry and offer sustainable and affordable housing.

What is the next step for NAR?

In this Q&A, Senior Real Estate Reporter Matthew Blake gives us the inside scoop on what happened at NAR’s annual conference, including the latest on the DOJ investigation.

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

What’s next for the maligned real estate appraiser?

In this episode of Houses in Motion, a series that is part of the HousingWire Daily podcast lineup, St. Petersburg, Florida-based appraiser Francois “Frank” Gregoire discusses issues in the appraisal industry.

Real Estate

How much can home staging boost your sale price?

One quarter of agents say it bumps price by 10%

It makes sense that staging a listing to make a home more appealing might influence a buyer’s decision. But, that’s just a nebulous idea until you put a dollar value on it.

So, here it is: 25% of agents representing buyers in a survey by the National Association of Realtors last month said staging increased offers by up to 5%. Using NAR’s March median price of $259,400, that’s $12,970. About 12% said it increased offers by up to 10%, or $25,940. And, 29% said it had no impact on the offer.

Agents representing sellers put a higher dollar value on home staging. About 22% reported a bump in sale price of up to 5%, 17% reported an increase of up to 10%, and 2% reported a payback of up to 20% – on a median-priced home, that’s a cool $51,880.

When deciding which homes need extra help, 28% of sellers' agents said they stage all listings and 45% said they don’t get involved in staging but they advise sellers to declutter and spruce up a home. About 13% said they only stage homes that are difficult to sell, and 7% only stage homes in higher price brackets.

"Buying a house is more than a financial decision – it’s an emotional decision as well,” said NAR President John Smaby, a broker at Edina Realty in Edina, Minnesota. "Realtors have the expertise and local market knowledge to know which properties and specific rooms will benefit the most from staging.”

About 47% of agents who represent buyers said living rooms are the most important area to stage, 42% put master bedrooms next on the list, and 35% cited kitchens in third place. Sellers' agents had the same list, but in reverse order: kitchens, master bedrooms, and then living rooms. One thing they all agreed on: the guest bedroom is the least important room to stage.

More than half of sellers' agents said that staging decreases the amount of time a home spends on the market. Of those, 25% said it greatly decreases the time and 28% said it slightly decreases the time.

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit is $970,800.

Nov 30, 2021 By

Latest Articles

Black Knight’s Borrower Digital POS solution simplifies the mortgage loan application process for borrowers

To address lender needs, Black Knight developed Borrower Digital – a point-of-sale solution that delivers a single, fully integrated and customer-facing mortgage loan application solution. Borrower Digital streamlines and simplifies the loan application process for the borrower by guiding them through the prequalification, pre-approval and refinance processes.

Dec 01, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please