Home Staging in Damariscotta

   Today's Guest Blogger is Bonnie Grenier, owner of Day's Cove Interiors in Damariscotta, who talks with us about one of her first staging jobs here in Mid Coast, Maine. 

    My first local staging job happened quite by accident. I wanted to check out the house before beginning renovations on my own kitchen.  A new house with an updated kitchen would help me avoid the dust, mayhem, confusion, and stress that inevitably accompany every kitchen project.

   I was intrigued by the house because of the great location, right on Day's Cove with an ever changing water view as the tide goes in and out. The outside is immaculate with very attractive landscaping. My high expectations for the house were totally obliterated when I walked through the front door into a dark, dated, dirty and cluttered house with bright red tile in the foyer and adjacent kitchen.  you couldn't miss the stale odor of a house that has been vacant and closed up for months.

   My first thoughts were that this house was incredibly dated and in dire need of staging. There was so much potential, but I knew most buyers would not be able to get past the red floor and dark paneling throughout the house. (Very 70's!) Then, there were all those faded pictures adorning the walls, not to mention at least 3 dozen plates on the walls in the kitchen and dining room. Ahhh...so much "stuff" to look at inside at the expense of that fabulous water view!

   Fortunately, a forward thinking real estate broker and the attorney for the estate selling the home agreed to let me stage the house with a generous budget.  (No small leap of faith in an area of the country where staging has yet to come into it's own!) We agreed that 2%-3% of the asking price was a fair amount for a staging budget.

    We hired a terrific painter with a crew of two who painted 2/3 of the paneling in the house with 3 coats of paint.  A new tile floor in the kitchen and foyer were a no brainer.  The three quarter bath was updated with paint, new light fixtures, and removal of a very dated vanity mirror. We kept the light blue sink, toilet and shower to save on costs but new grey paint on the paneling muted their impact.  We eliminated a fair amount of furniture throughout the house to visually enhance the space.  Our "carpenter on call" did a great job on a variety of small jobs. Fresh bedding, removal of yellowed  accordion style shower curtains in both baths, and a really good cleaning completed our staging efforts.

   That's not to say we couldn't have done more, but given our budget we got a lot of bang for our buck and the changes were remarkable (even if I do say so myself!) The entire job took about 6 weeks, and that was with time off for Christmas and New Years.

   Now, the house has a great, attractive space for entertaining, water views from every room, and is in move in condition.  If my husband and I hadn't already begun construction on our new kitchen in the meantime, my staged house would be a serious contender!  However, you may want to take a look!

  In this competitive real estate market, every home needs to look its best to have a chance of selling. If you'd like to talk with Bonnie Grenier she can be reached via email, dayscoveinteriors@roadrunner.com or by phone 207-563-1305.To see this home in it's new splendor please call Lee Simard or Bill Byrnes at Newcastle Square Realty.

Saturday "Solds"

   Another in an occasional series, where we give you a brief snapshot of the market and a sampling of those properties that have been selling in Lincoln County.  Sold prices are publicly available, days on market are gathered from the Maine Real Estate Information System.

   Editors note: Despite persistent negative media reports, not everyone has defaulted on their mortgage and homes are selling, albeit not as fast as 2 years ago.

   On the Damariscotta River at Perkins Point in Newcastle, this home was originally listed at $835,000 and sold for $800,000 after 248 days on the market.

   On Townsend Ave. in Boothbay Harbor, this home which has been used as a B&B, was originally listed for $459,000 and sold for $300,000 after 870 days on the market.

   Located at the corner of Foster Rd. and Bristol Rd. in Bristol and originally listed for $180,000, this home sold for $110,000 after 467 days on the market.

   Townhouse #3 of this condominium conversion sold for $386,000 after 518 days on the market. It was the last available unit in the project.

   Located on Damariscotta Lake in Jefferson, this home was priced at and sold for $595,000 after 4 days on the market with Newcastle Square Realty although it had been previously exposed to the market with another company.

   Beautifully sited on the Damariscotta River in Newcastle this elegant home was listed for $795,000 and sold for $750,000 after 444 days on the market.

Local Retailer Wins Energy Efficiency Award

 

 

Reny's, our favorite local family run store, made the news today by winning an award for energy efficiency.

From The Kennebec Journal

Reny’s Department Stores, a longtime favorite of bargain-hunters, has received an award for becoming more energy-efficient.

The Newcastle-based chain, which has local stores in downtown Gardiner, Farmington, Madison, Pittsfield, Belfast, Camden, Saco, Bath, Bridgton, Damariscotta, Dexter, Wells and Ellsworth was one of 10 businesses honored by the Northeast Energy Efficiency Partnerships with a Northeast Business Leaders for Energy Efficiency award, the only winner in Maine.

Reny’s, sponsored for the award by Efficiency Maine, demonstrated a 30 percent reduction in energy use. The reduced energy usage resulted in annual cost savings of almost $30,000, according to a news release.

The winning organizations were chosen based on their outstanding achievements to adopt and implement energy efficiency practices. Their efforts, the release said, resulted in demonstrated energy savings which improved the organizations’ financial bottom lines.

This doesn't surprise me at all since being energy efficient is a good business decision and Reny's has a history of making good business decisions since Robert Reny opened the first store on Main Street in Damariscotta in 1949.

Thomas Field

Well, at least it's not getting any worse...

   For real estate brokers, "how's the market doing?" has replaced "What do you think my house is worth?" as the most asked question they are likely to hear.  So how does one answer that?  Well, faithful readers of this space may have noticed that we haven't posted for a couple weeks.  No we were not someplace warm sipping a pina colada, we were right here, showing property and talking with clients, both Buyers and Sellers.

   I certainly don't mean to give anyone the impression that the market has gone crazy, far from it.  Buyers are being very careful, as they should be and where they may have looked at 8-10 homes previously they look at 20-30 homes now.  Of course part of that is a function of there simply being more inventory on the market. They ask for information about all of the neighborhoods and communities where these homes are located.  They ask for careful analysis of what they can expect the value of their potential purchase to be in the future and we're happy to provide them with that.

   Sellers ask hard questions, also.  No one puts their home up for sale in the face of the unrelenting negative media reports such as we experience now unless they are absolutely serious. They want the clearest possible analysis of their homes value and how they can expect the market to react to it.

   Meanwhile on a macro scale, the Fed cuts rates and pumps liquidity into the banking system. The Administration and Congress actually do something and pass a stimulus package. The unscrupulous mortgage brokers go out of business leaving only the most competent still standing like wheat separated from chaff. And the business cycle keeps on turning.

   Slowly, methodically we work our way out of this mess.  We take 2 steps forward and 1 step back.  Today the CPI report looks good, tomorrow oil prices will rise on a weak dollar but then next week the Fed will cut rates again.

   But pent up demand, low rates and just maybe a light at the end of the tunnel and all of a sudden it feels like we can answer that constant question with "Well, at least it's not getting any worse."  Now truly is the time to buy and for those individuals who have been trying to time the market and wait for the bottom, I'm afraid some will be kicking themselves someday over not buying now.

Jim Cosgrove