Category: Market Updates

Last week was about how to get your kitchen ready before the open house; this week, we will talk about the second most important room in your house: the bathroom.

This is a list of some tips you will need:

• Carpets, mats and toilet seat need to go. They simply don’t look clean and they are sometimes responsible for bad smells.

• “Let the sunshine in”. If there is a window in your bathroom, you need to pull up the blinds or shades and if you have any privacy issue, you might want to frost the glass with a film or with a can of paint.

• Tile and grout MUST be spotless; so clean, clean and clean again! If the grout is old, it might be discolored in some places. No need to worry, I have a quick fix for that! Go to your hardware store and ask for a “grout pen”, this thing is magic! But remember, it’s just for touch ups; if you need to re-grout everything, do it. It will pay off in the end.

Buyers are looking for a spa-like bathroom, the kind of bathroom where they will be able to relax after a long day at work.

• Accessorizing is the key to a well-staged bathroom:

1. Buy a couple of fresh fluffy bath and hand towels.
2. A candle or two displayed on the shelves, tub or vanity will create a relaxing atmosphere.
3. You need a clean shower curtain, but try not to get anything too overwhelming for the space. A nice neutral with a simple pattern will do the job.

• Also, clear out the clutter; it will distract buyers. Again, less is more in this case; especially in one of the smallest spaces in the house.

And for the last touch, add freshly-cut, colorful flowers in a simple glass vase and Voilà, your bathroom is ready to impress potential buyers!

Staging tips of the week:
If you have a mirror without a frame in your bathroom, don’t replace it. Just work with it. Did you know that you could buy molding at the hardware store and ask them to cut it to size? Then, apply some heavy duty glue and you got yourself a custom-framed mirror for a fraction of the cost!

Good luck!
Virginie Gill, Certified Staging Expert
Owner of Voila Design

CNN is saying the housing market could get a lot worse because of another wave of foreclosures set to hit the Tulsa real estate market. An avalanche of subprime mortgages are set to hit the market in the next 18 to 24 months.

As these mortgages reset to a higher interest rate along with higher unemployment, it is likely to cause a surge in mortgages going to default. Currently in the U.S., one in ten homes is either in foreclosure or behind in payments. The new numbers could be even more staggering.

Economists warn this could cause housing prices to decline up to 20% more before the market rebounds. Currently losses from the housing bust totaled $3.6 trillion at the end of 2008. Lawrence Yun the chief economist with the National Association of Realtors® estimates losses will likely approach $5 trillion by the time the crisis ends.

If you are facing a financial hardship with either decreased income, higher expenses or job loss, call me. Foreclosure doesn’t have to be your only option. I recently became a Certified Distressed Property Expert, or CDPE, and can help you or anyone you know avoid foreclosure by using a short sale. We can negotiate with the lender to take a reduced payment, pay our commissions, and avoid the damage of a on your credit score.

I know the Tulsa Real Estate market and job markets are tough out there. Let us help you or your friends if they are struggling.