TIPS TO SELL YOUR SOUTHAMPTON VILLAGE HOME:
A BRIEF MARKET SUMMARY:
In this customarily active real estate market here in Southampton Village, New York, we have seen a market shift from inactive in late 2008 into 2010, to very active in June-2011 up until now.
- Brand new construction sells at within 5%-10% of its asking price. Demand for new construction is up significantly from last year at this same time.
- In a review of the current Existing home inventory, we see a much different sort of activity. Houses that are not brand new sit for least 6 months and maybe even more if the house is in dis-repair. When they trade, it is between 15% to 20% off the asking price.
- I thought it could be very enlightening to see how Renovated homes sell too. I had to do the grunt research to find out which houses had been renovated and I did that by studying each sold listing. I checked on when they were renovated as well. I found that the newly renovated homes tend to sell at very close to asking, very much like new construction with a 10% difference between asking and the sold price.
Since today's buyer is out there looking for "new", many smart homeowners have caught on to that trend. These homeowners have taken the steps to make sure they will get top dollar for their home without emptying their pocketbooks. These are the homeowners who have taken the aggressive steps necessary to get their homes sold:
Renovate where needed and a major clean-up and paint job before marketing is the approach most successfully utilized.
The highly desirable architecture of a brand new home is reflective of the 20th century summer cottages. This is the most significant influence on the new houses that sell quickly and at top dollar. Gambrel roofed cottages and Federal Style traditional houses are among the most sought after styles for "The Hamptons Look".
THE LIST OF ESSENTIALS:
Below is a list of the most affordable and essential things to do to make your existing home a winner in the eyes of the buyer. The focus here is to create or improve on "The Hamptons Look" of your home.
- Fresh paint on all surfaces--aim for an eye pleasing Ivory or Linen color on all interior walls and ceilings. Outside, a natural wood with white trim or white exterior with gray or black shutters. This makes the house appeal to a greater number of potential buyers.
- Front door should be sparkling white with clean moldings and very clean windows if there are any.
- Door step should free of any clutter and swept clean of all debris such as leaves, dirt, sand or other outdoor clutter.
- Fresh flower pot in the spring or summer is nice on the front steps/porch with a collection of fresh blooms or ferns.
- Indoors, the floors should shine, whether they be wood, tile, stone or marble. Nothing says "welcome" better than cleanliness!
- All windows should be sparkling clean and clear of any heavy or dark coverings. White, wooden 2" blinds can be used effectively through-out the house to be able to shut out light and for privacy
Keep the theme of "The Hamptons Look" alive within your home. The public expects it and is not very happy if they see another, more citified look in a home in the Hamptons.
KEY HAMPTONS LOOK PIECES
- Overstuffed, slip covered sofas and chairs in natural colors or shades of white. Sometimes a blue ticking stripe is used effectively
- Sumptuous bedding and beds with soothing blue and white colors and patterns in pillows and throws.
- Caned chairs for the dining table; lots of natural wood and neutral colors for the table top treatment.
- Lots of White, crisp white dishes and serving platters
- Piles of books--lots of picture books and summer reading
"THE HAMPTONS LOOK" PERSONIFIED
Slip covered, very comfortable sofas and chairs in the family room or other living areas. Large coffee table with coffee table books, large candles for light on a relaxing night and fresh cut flowers from the Hydrangea bush outside the house.
Muted and natural colors are the best way to bring life to the bedrooms and bathrooms; pillows of natural colored linen or faded blues and greens of the sea can make a room more welcoming. Opulent bedding that includes down comforters, (Yes, even in the summer)
In the dining room, a very large table with high backed chairs make "The Hamptons Look" easy to accomplish---forget the carpets and the upholstered chairs in this room---leave it a place of calm with a focus on the food, not the furnishings!
THE HAMPTONS LOOK IS FUN AND INTERESTING
Never before has an influence like "The Hamptons Look" had such an impact on design in a given area as in the Hamptons---the only other design influence that comes to mind is the "Cotswold Cottage" look in the UK. I have noticed how style and interior design magazines have captured the feeling of "The Hamptons Look" and it is a fresh and comfortable look with family and relaxation in mind.
Countryside and Village alike use this design effectively and when it comes to selling your home here in Southampton Village, nothing says "buy me" better than a wonderfully designed and styled "Hamptons Look" cottage.
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY. The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill: http://www.elliman.com/paulahathaway
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