Real Estate Information
Virginia Beach Real Estate Blog
Displaying blog entries 1-10 of 12
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The theory of under-pricing
Staging and market presentation
Disclose and inspect upfront
Low mortgage rates
What’s next door — or could be
A condo can offer a good location at a less expensive price.
Photo by Brian Weiss
- Location – Where do you want to be? Are there options for both condos and single-family houses in this area?
- Privacy – Is it important to you to have complete privacy or do you find close neighbors to be a comfort?
- Responsibility – Do you need total control over decisions affecting your home or are you attracted to the idea of sharing decision-making with your neighbors?
- Maintenance – Are you a homebody who enjoys getting dirty in the yard or are you delighted with the idea of never having to cut a blade of grass again?
- Budget – How much do you have to spend? Depending on where you want to live, a condo may be the only option that meets your budget.
It’s no secret that color is crucial when marketing a product. In fact, consumers come to a subconscious conclusion about a product within 90 seconds of viewing, and much of that judgment (62-90 percent) is based solely on color, according to the Institute for Color Research. Retailers apply these findings every day (think red sale signs) to encourage consumers to purchase their products. Can the same be said in real estate?
Consider this: If color influences product marketing strategies, the color of a home can be a decisive factor when selling.
“Your home’s exterior color is literally the first thing a buyer will see and comment on,” says Suzanne Otto, home stager and owner of Six Twenty Designs in Montgomery County, Pa. When preparing a home for the market, Otto recommends shades within the white, tan or gray color families. These colors resonate beyond pure aesthetics – according to e-commerce giant eBay, white indicates safety. For a homebuyer, a home with a white exterior can translate to concepts like “shelter” or “safe haven.”
Similarly, understated browns (including the aforementioned tan) signal security. Homes painted in sandy or mushroom hues read comfort and warmth. Colors like taupe, which falls somewhere between brown and gray, call to mind traditional values, homeownership included. Earthy tones like laurel green or artichoke can not only highlight a verdant landscape, but also evoke a sense of tranquility.
Per eBay’s assessment, blue is ideal to move product because it transcends culture. Homes outfitted with a dusty blue or blue-gray exterior may not bridge the gap between your everyday seller and an international homebuyer, but a universally regarded color can help widen the net for buyers on the home front.
If red signs boost retail sales, it seems likely a red home would be ideal for a speedy sale. Not necessarily – red in small doses, such as sale stickers or tags, encourages action. Red on a grander scale can cause adverse reactions. An alizarin crimson door, for instance, might be well-received by buyers, but a house in the same shade could potentially limit offers.
Homes in other colors can sell successfully – our retinas tend to register yellow before any other color, so a buttery yellow exterior could be an attractive option for buyers – but non-traditional colors, like oranges and purples, appeal to very specific personalities and can significantly shrink the pool of interested buyers.
It’s important for sellers to consider the home in relation to the neighborhood before swapping out the exterior color or refreshing an existing paint job. Do nearby homes share a distinct color scheme? Is each home uniquely colored? Evaluating the home’s surroundings can help sellers determine what’s most popular in their market.