It is found that empty houses get sold for a smaller amount of money. It also takes a lot of time in the market. Empty houses get sold for 7.2% in some places like Greenville, Omaha, Nebraska, etc. Redfin analysis has revealed that, if we see nationwide, these empty houses get sold for less than $11,306 and takes almost 6 days in the market which is more than occupied houses.
Their analysis process is followed by the comparison between sale cost and time taken in the market for the listing of the house. That house is flagged as empty when the house is sold with those that were not marked as empty.
Below mentioned table described the stats of empty vs occupied houses at the metropolitan area. This is represented in the order of more discount to less:
The houses which are occupied get sold at a higher rate along with for more dollars. This totally relies on some elements. Just like everyone has unique tastes and liking. For instance, When the home is not vacant and it has modern furniture, which complements the whole house then it shows the nice & positive effect on the prospective client. In fact, it might possible that he will pay more dollars for the home. In the same way, if the furnishing of the home is outdated and not apt of the space, then you may lose the prospective buyer.
Staging Empty House
Even though, the empty houses do not get sold for high prices and spend a lot of time in the market before the contract. But staging or virtual staging of the empty house can help the agent to impress the prospective buyer. All you have to do is to hire a company who can arrange the furniture in the best way possible. You can take the image and show it to the prospective buyers. You must agree with the statement that staging of the houses influences more which has open spaces. In the open spaces, buyers always need assistance in arranging the furniture.
If you opt for professional staging, it will cost a huge amount of money. Basically, it relies upon how many rooms you want to stages along with the span of time. The staging has a great effect on the sale price of the house and total days spent in the market. But it is associated with disadvantages like, expensive, unwieldy, and provides adaptability to present several aesthetic styling. A cost-effective option is virtual staging as it offers home buyers a real view of the fully furnished house. Virtual staging helps in serving today’s prospective home buyers who demands to see the 3-d image in mobile view so that they can analyze and evaluate the house. It also doesn’t require a physical walk to the house. You can see it virtually on your hone or desktop.
Below you can see the images.
Each and every house in unique so as the seller. The seller has different priorities. It better to have a word with the advantages and disadvantages of listing the home in the market at the meanwhile it’s empty VS occupied and whether staging or virtual staging is a nice choice for the buyer.
This report is prepared by using linear regression. This helps in forecasting the sale price of the house. Empty houses which are marked for the sale purpose differ in the level of furnishing. It may be completely empty or may be fully furnished. If the house is empty, it should not be occupied when you are throwing it in the market. It is found that merely three percent of the houses are occupied at the time of listing and empty at the time of sale. Ten percent of the sale of the house in the metropolitan area is covered in an empty listing of the houses. Almost 70% of the houses are sold and covered under MLS Listings. This listing includes the information that whether the house is empty or occupied. We divided the information through a metropolitan area which includes many characteristics of the houses. It also involves place, the size of the house, etc.