enrichedrealestate

Home staging became a trend when the market crash left a huge number of inventory that were ripe for the picking. Most brokers stage houses to give clients a realistic feeling of living in the house. While this may seem like an unnecessary expense, the data shows that home staging actually has some positive effects. Here’s what we know: Buyers are willing to offer more money for a staged home. A majority of buyers feel that staging helps them visualize living in the house. Half of buyers feel that the chosen décor will influence their decision to buy the house. Realtors report that buyers are indeed affected by home staging, either positively or negatively depending on taste. Staged homes sell faster than empty homes. They are 50% more likely to sell than non-staged homes. Staged homes rarely drop in price because they sell fast. The longer a house is on the market, the lower the value becomes as time goes by. Staging homes increases the perceived value of the property. A cle...

Investing in real estate is tricky. You can’t simply decide to go for it one day without any knowledge and expect success. Aside from the basics, there is more to know, especially real estate cycles. If you’ve been dabbling in real estate, you’ve heard of the phrase before. So, what does it mean, and why does it matter? What is the Real Estate Cycle? A real estate cycle is a chain of recurring events in the industry that affect the market. Several factors influence a period such as demographics and economy. It’s widely accepted as a supply-and-demand concept. For example, a vacancy in a particular area is high. Building a new place for tenants will pay off because they need a new location. However, if the occupancy is high, it won’t be the smartest choice as people are already settled. But besides the local side of the cycle, there is also the financial side. The capital flow mostly influences it. Essentially, if many people want to buy properties, the prices will increas...

Every day, another person becomes a millionaire. Because of that, crazy real estate trends are popping up here and there. For example, the ultra-rich are buying high value real estate properties in Singapore, Hong Kong, South Korea, and many parts of Europe. People are actually buying castles, too. It’s not surprising that the next stage is buying an island. Why an island? It’s private, it’s usually a huge piece of property, and you can tell people you own an island. You can even apply to make an island a country if you have enough money. How are people buying islands? People seem to forget that once upon a time, very rich people in the 18th and 19th century bought large plots of land before the government started taking lands for themselves. These pieces of land were passed down from generation to generation. Most of these properties were bought or sold for a dollar, more or less, in those periods. Considering inflation, these properties haven’t increased to the point of insan...