Altos Research publishes a weekly report available by zipcode providing real estate analytical information at the local level. This weeks report summary describes the Santee Real Estate Market as follows: “Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.” Regarding Supply and Demand: “The market has been consistently cools for several weeks. Demand level are low relative to available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise.” To Read the full report please click here Santee August 8, 2011 Altos Research Report

So what does all this mean? It means that there are fewer homes available for sale because the homes available are selling at a faster rate than new property listings are coming on the market. In real estate the technical term for this is absorption rate. The median price for a home in Santee has been decreasing over the last three weeks from $319,900 to $309,900. So if you are contemplating selling your home what can you expect? Homes that are priced competitively and in good condition continue to sell well. Expect your home to sell within 60 days to 90 days. The key word here is competitive. Buyers buy by comparison. The homes that offer the most value to prospective buyers are the homes that sell first! Questions on selling your home? Please call me at 619-258-1111.

I had a good read this morning on Agent Genius, a real estate website for real estate agents, on the top 15 “rules” for staging a house. My wife would probably disagree with point 13. “Sheer or no window coverings on all windows”. Most designers agree that it is important to “frame a window”…Using drapes on the side of the window so that a room looks finished. The closer a home seller can move towards completing this list the better the results they will obtain with the sale of their home.

Top 15 staging rules

According to the scientific study by Duke University, these are the top 15 staging rules listed with the most importantly ranked at the top of this list:

1. Removal of personal items from bathrooms.
2. Using rooms for their intended purpose.
3. Removing evidence of pets.
4. Turning on every light in the home during showings.
5. Vacant homes should be furnished.
6. Removal of garbage cans.
7. Removal of personal photographs.
8. Removal attention-grabbing or personal art or accessories.
9. Neutral paint colors on all walls.
10. Removal of appliances from kitchen counters.
11. Never placing the back of furniture facing any room entrance.
12.“Tell a story” with staging (breakfast tray with mugs on bed).
13. Sheer or no coverings on all windows.
14. Use of scented candles, plug-in air fresheners or potpourri.
15. Chocolate chips baking in oven during showings.

Commonly reported additional rules that did not make the top 15 include an extremely clean, decluttered house with good curb appeal. I would add to this list having the house and the carpets professionally cleaned.