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Elevate Your Home's Market Value With Expert Staging Techniques
the monthly hale JUNE 2024
Staging a home is an art designed to showcase the best features of a property, helping potential buyers visualize it as their future home. At The Mitchell Group, staging is a fundamental part of our service offering, exclusive to our clients. Our commitment to staging has even drawn attention from other realtors who reach out to ask for our assistance — that’s a large compliment from realtors who see hundreds of homes a year! Why should you stage your home? Staging a home is essential because it creates a more appealing property listing. It transforms empty or cluttered spaces into welcoming, attractive environments. This helps capture the interest of potential buyers through photographs and during showings. Staging emphasizes the property’s strengths and minimizes its weak spots, enabling buyers to imagine living there, which can significantly speed up the selling process.
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Benefits of Home Staging Faster Sales
Did you know that, according to the National Association of Realtors (NAR), staged homes typically sell 73% faster than unstaged homes? These results are largely because staged homes create a better first impression, leading to quicker offers from potential buyers.
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Increased Sales Price Homes that are staged typically sell for more money. According to the National Association of Realtors (NAR), staged homes can boost the selling price of homes by 1%–5% compared to non-staged homes. In competitive markets, this percentage can be even higher, as staging can make a home stand out from the rest. Reduced Time on Market The average time on the market for staged homes is often much shorter. A well-staged home makes a property feel more aspirational, which can lead to faster sales because it spends less time listed. How Do We Approach Staging? Our team takes a comprehensive approach to staging. We believe that by creating an environment that appeals to a wide variety of people, we can engage more potential buyers. Our staging includes optimizing the layout, enhancing decor, and sometimes making minor repairs or upgrades to ensure the property looks its best. For sellers looking to make a memorable impression in the real estate market, partnering with a team that understands and effectively implements staging strategies is crucial. At The Mitchell Group Real Estate Team, we ensure every home we list is staged to meet high standards, reflecting the quality and care we dedicate to each client.
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1 -Sachi Mitchell 808.824.4088
Food is central to every culture. The what, why, and hows of culinary history are diverse and fascinating. From the forgotten Roman condiment to the short-lived hot soda, there’s no end to the depth of interesting food facts. No. 1: Double-Dip Faux Pas The nobility of the Ottoman Empire followed a complex but rational code of culinary conduct. After washing with soap and water, they ate primarily with their hands. Once the meal began, they followed rules much like ours. Double dipping and lip-smacking were frowned upon, and eating more than one bite of a dish was rude, too. Luckily, meals had dozens of unique dishes. 4 FASCINATING HISTORICAL FOOD FACTS
WHAT OUR CU
“Jason Mitchell took great care of the property we needed to sell. He is very
professional and answered all of the questions that we had for him to our satisfaction. He kept us completely informed with every step of the process, from clearing out the property, any repair work needed, upgrading the property, and staging the house. If I had another property to sell, I would have Jason take care of it!” –Robin Nishimura, Hawaii
No. 2: The Lost Condiment The Romans left behind a vibrant legacy. Aqueducts are still used throughout Europe, while their language is the basis of many other languages. One thing that hasn’t stood the test of time is garum. They poured this condiment on almost everything they ate. Made from fermented fish, garum’s salty, fishy flavor no longer appeals to the average Westerner’s palate. No. 3: Hot Beverage Fail Dr. Pepper, like most sodas, is best enjoyed cold. This means there are fewer soda sales during the winter when people opt for comforting, warm beverages. To remedy this, the soda company tried to push hot Dr. Pepper in the 1960s. Meant to be served warm with lemon, they marketed it to magazines, television, and radio. The campaign was unsurprisingly unsuccessful. No. 4: Roaming Ramen Ramen is one of Japan’s most iconic dishes, but it doesn’t actually originate from Japan. The noodle soup comes from China, where it is known as shina soba. It became popular in Japan after World War II. The country had undergone a food shortage for years but had finally started importing supplies. Chinese food was believed to be nourishing and filling, so street vendors offering cheap but delicious ramen became a mainstay. Once instant ramen was invented, the noodle soup became associated with Japan worldwide. Whenever you sit down for dinner, consider how you eat and the odd traditions you unconsciously observe. We’re all part of a marvelous culinary culture and should celebrate what makes us unique.
HOME SALES AND PRICES
Single-family home buyers and sellers entered contracts more quickly in April. During April, there was an uptick in single-family home and condo sales. Single-family home sales rose by 26.0% year-over-year, totaling 262 transactions, and by 13.9% month-over-month. Similarly, condo sales saw a 2.6% rise compared to last year, totaling 431 units sold and a 25.3% increase month-over-month. In April, buyers and sellers for single-family homes entered contract quickly, with median days on the market decreasing to 17 from 24 days a year ago. Conversely, condos experienced a more extended selling period, with median days on the market rising to 29 from 20 compared to last April. Honolulu’s Board of Realtors (HBR) April Monthly Statistics Report also shows: • Despite a change in momentum, sales remained subdued compared to recent years. Based on a 12-month moving average, April's average was about 40% below the peak averages of 2021 and 2022. • Median prices for single-family homes remained stable at $1,100,000, a 10% year-over-year increase, while condo prices reached $528,000, up 5.6%. • Single-family homes priced at $1,100,000 and above surged 50%, with 132 sales. Condos priced at $600,000 and above increased by 23.1%, while units within the lower price range of $300,000 to $399,999 decreased by 35.1%. • One-third of single-family home sales closed above the original asking price, compared to 25% in April
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TAKE A BREAK
USTOMERS ARE SAYING
Bloom Cinco
Comic Derby Emerald Gemini Graduation Lily Memorial Mother
1400 Ala Aolani St., Moanalua Valley Listed for $1,300,000 - Sold for $1,339,000
Renewal Veterans
Text your answers to Sachi at 808.286.7633 . The first person to text with the correct answers gets a $5 Starbucks gift card.
The referral of your friends and family is the greatest compliment you can give us. Mahalo for your trust!
S INCREASED IN APRIL!
GRILLED RED CURRY BEEF SATAY WITH PEANUT SAUCE
2023, indicating increased competition. Conversely, only 15% of condo sales closed above the original asking price, down from 22% last April. • Year-over-year, single-family home inventory grew by 15.5%, while condo inventory surged by 37.8% "Though home sales haven't reached pre-pandemic levels or the peak activity we noticed in 2021 and 2022, we're seeing positive recovery signs for O'ahu's housing market," says Fran Gendrano, president of the HBR. "The month-over-month rise in sales indicates buyers are active in the market despite higher mortgage rates."
INGREDIENTS • 1 1/2 lb flank steak • 1/2 cup unsweetened coconut milk • 2 tbsp lime juice • 1–3 tbsp Thai red curry paste • 1 tbsp fish sauce For sauce: • 1 cup unsweetened coconut milk • 1–2 tbsp Thai red curry paste • 1 tbsp brown sugar • 1 tbsp fish sauce • 1/2 cup creamy peanut butter • 1 tbsp lime juice
$1,100,000 MEDIAN SINGLE-FAMILY PRICE
10%
SINGLE-FAMILY MARKET
262 CLOSED SALES
26%
DIRECTIONS 1. Freeze flank steak for 30 minutes. Cut crosswise, against the grain, into thin slices. 2. In a medium bowl, whisk together coconut milk, lime juice, curry paste, and fish sauce. Add steak and toss to coat. Cover and chill for 8 hours. 3. In a small saucepan over medium heat, combine coconut milk, curry paste, brown sugar, and fish sauce. Bring to a gentle boil for 3 minutes, stirring occasionally. Add peanut butter and stir until well blended. Remove from heat and add lime juice. 4. Thread the marinated meat onto 12 long skewers. Grill until beef is medium rare, 1–2 minutes per side. 5. Transfer satay to a platter and serve with peanut sauce.
$528,000
CONDO/ TOWNHOUSE MARKET
5.6%
MEDIAN CONDO PRICE
431 CLOSED SALES
2.6%
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808.824.4088
500 ALA MOANA BLVD SUITE 7-400 HONOLULU HI 96813 808.824.4088
PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411
THEMITCHELLGROUPHAWAII.COM THEMITCHELLGROUPHAWAII@GMAIL.COM
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Staging to Sell
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Food History Facts That Will Amaze You
What Our Clients Are Saying Word Search Grilled Red Curry Beef Satay With Peanut Sauce 4 A Symphony of Colors, Patterns, and Bold Statements
Functional and Sustainable Trends for Your Home in 2024
This year brings a new wave of interior design trends, transforming homes into havens of style and functionality. These trends offer a glimpse into the evolving landscape of interior design, but they’re not entirely new. Let’s explore the key trends shaping the homes of today and tomorrow. Sustainable living takes center stage. Sustainable and eco-friendly materials are gaining popularity, reflecting our commitment to reducing our carbon footprint in our living spaces. This isn’t new, as many homeowners and renters try their best to find and refurbish furniture made of recycled materials and use energy-efficient appliances and lighting. This trend continues as we embrace more sustainable designs. Biophilic design contributes to tranquil spaces. Biophilic design incorporates nature within a living space, such as putting plants in living rooms, bedrooms, and bathrooms. Integrating this and other natural elements like water features and ample natural light will help blend these spaces. The trend also includes plant- inspired textiles, e.g., pillows, curtains, upholstery, etc. These details bring tranquility and continue a tradition of melding the inside and outside without harsh boundaries. Maximalism makes a comeback. The minimalism of the 2010s is out. Maximalism is in, which means bold and vibrant colors and eclectic decor choices are gaining
momentum. More people are embracing the idea that more is more, creating visually stunning spaces that reflect their personalities and diverse interests rather than opting for a sterile, monochrome ambiance.
Home offices evolve. The rise of remote work has transformed the way we use homes. In 2024, the home office continues to evolve to accommodate this work-from-home hybrid model. Versatile yet ergonomic furniture, innovative but out-of-sight storage solutions, and personalized technology integration are becoming staples, creating home environments conducive to work and everyday living. Multifunctional furniture enables flexible living. With space optimization becoming increasingly important, multifunctional furniture is gaining popularity. Homes must adapt to various needs, so why shouldn’t your furniture do the same? Sofa beds, convertible tables, and modular storage units are some popular ways to ensure your furniture is efficient and beautiful.
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