Joe Martin — a successful and experienced broker based in Arizona — responds to pressing real estate agent and buyer concerns each month in the “Ask Joe” section of the free Foreclosure.com Agent University newsletter. Below is an excerpt from the July 2010 edition.

First, let’s define what “staging” is for those who have not heard the term before.

Home staging “is the act of preparing a private residence for sale in the real estate marketplace.” The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money.

Staging techniques focus on improving a property’s appeal by transforming it into a welcoming, attractive product that anyone might want.

Craig Peck, the designated broker of RE/MAX Diamond in Mesa, Ariz., stated he believed staging could reduce days on market (DOM) by as much as 50 to 70 percent.

It appears he wasn’t far off the mark.

Based upon a survey conducted by The International Association of Home Staging Professionals® and StagedHomes.com® of more than 1,000 homes (62 percent vacant, 38 percent occupied) throughout the United States and Canada, it was revealed that 94.6 percent of Accredited Staging Professionals (ASP®)-staged homes sold, on average, in 33 days or less, compared to 196 days on non-staged homes, from Jan. 2010 through May 2010.

Personally, I believe in staging homes, and have always educated my traditional sellers on the advantages of doing so.

Foreclosure staging begins after the property has been vacated and the “initial services” are ordered. An outside vendor comes into the home and performs what is termed a “trash-out” or “clean-out.” The vendor removes all the trash and debris and “broom cleans” the home. The cupboards and cabinets are emptied, counters wiped down, carpets vacuumed, floors swept (sometimes mopped) and all contents (if any) are removed.

All that said, foreclosures are not in the traditional resale market and typically don’t have homeowners or tenants living in them. Accordingly, they are not generally staged on the interior with furnishings, plants and pictures on the wall, as traditional home staging would include.

Foreclosure staging begins after the property has been vacated and the “initial services” are ordered. An outside vendor comes into the home and performs what is termed a “trash-out” or “clean-out.” The vendor removes all the trash and debris and “broom cleans” the home. The cupboards and cabinets are emptied, counters wiped down, carpets vacuumed, floors swept (sometimes mopped) and all contents (if any) are removed.

Also included in the “initial services” is the yard and pool cleanup, which involves basic lawn mowing, debris removal and either securing or starting up the pool, depending on the client. Recurring yard and pool service, along with monthly maid cleaning services are typically ordered to keep the home in selling “show-ready” condition.

Any further staging in foreclosures is going to vary, depending on the marketing strategy chosen by the asset management company or servicer client and the agent in charge of the property. The client chooses between an “as-is” strategy or “repaired” strategy.

Either strategy will include the “initial services” mentioned earlier, but a “repaired” marketing strategy will also include paint, carpet, replacing outlet covers, repairing the landscaping up to installing a new lawn (some HOAs require this and impose fines if not done) or some light rehab in some cases (even extensive rehab on some, but rare).

Some of the little things many REO brokers do, including ourselves, to stage our homes is to install room deodorizers, change the air filters and make sure the entryway is always inviting to the home.

Sometimes, we dress up the entrance with flowers to provide additional ambiance. We also make sure the fan blades are wiped down, top of light fixtures are clean, toilet seats are down and stoves and microwaves are clean inside.

We even carry brooms and cleaning supplies in our cars, just in case any of the homes need sprucing up! In addition, we place property fliers on the counters for potential buyers and provide a toll-free number for all buyers to get information 24/7 on the property.

It appears staging has become more popular lately — real estate agents realize that it shortens the DOM and brings top dollar for the home. More and more staging companies are popping up, too. There are even certifications available to be a staging consultant!

One interesting service has popped up called HomeTending. The service it provides is to stage the home with furnishings to be move-in ready and provide screened short-term cooperative “caretakers” to live in the vacant staged homes.

The “caretakers” pay the utilities. The HomeTender service pays for the pool, lawn service and pest control. If there is an alarm, they will activate and pay for that, too. The HomeTender caretakers are not tenants, but rather a subcontractor who pays a monthly participation fee.

Caretakers are required to carry renters insurance and have the home in “show ready” condition between the hours of 10 a.m. and 7 p.m. ET every day. When homes sell, the caretakers have to move out, but will have at least 10 days to pack up their belongings.

On the surface, it appears to have advantages on both sides. As long as the liability issues are handled properly, the staging of the home could very well shorten the DOM and bring in top dollar for the home.

Typically, bank-owned homes are left vacant and unstaged because of the risk of vandalism and extra costs involved.

If you have a burning question for Joe, please email him at AskJoe@foreclosure.com. Joe may just select your question to answer in an upcoming newsletter!

So says Colorado Springs, Colo., real estate agent Shawn Jardine in a recent article from the Christian Science Monitor:

“It’s a feeding frenzy right now. On one property listed for $65,000, I had 15 offers. The best offer won at $20,000 over asking price.”

Wholesalers, which are basically investors with lots of money who can buy in bulk, are “snapping up” a healthy chunk of the best distressed property deals currently available on the market.

It’s common these days for wholesalers to swoop in and make all-cash offers, making it difficult for first-time homebuyers and other “small-time” investors to land their deals.

With the nationwide housing market riddled with bargains, and a volatile stock market, wholesalers are literally banking on the notion that the market will eventually rebound. Perhaps not to pre-collapse levels anytime soon, but nonetheless, it’s bound to happen.

When and where is still a huge question mark. In the meantime, opportunistic wholesalers have the ability to buy low now, renovate their homes (if necessary) and then hang onto them for however long it takes to rent or re-sell at later time for huge profits.

To beat wholeslaers, investors and other buyers to the punch, we always recommend that you consider our FREE email alerts. We send you the hottest deals in your area the moment they hit the market.

Timing is everything … now more than ever!

There are several things that can and do often send homebuyers off the rails during the homebuying process, but CNNMoney.com whittles down the list of the most common pitfalls to six:

1. Not knowing your credit score
2. Buying a car before a house
3. Skimping on home inspection
4. No lawyer
5. No contingencies
6. Not budgeting from insurance

Remember to also check out our “First-time Homebuyer Program” Webinar to ensure that your experience is the best it can possibly be … it’s well worth it.

Avoid costly mistakes now and in the future!

WMBF News today put together a nice punch list of things that homeowners today “need to know” before buying a foreclosure … or any other type of home for that matter.

Check it out:

1. Double-check your credit — Check your credit report immediately to be sure it does not show any incorrect information.
2. Talk to lenders — Check rates and offers from several mortgage professionals to find one you with whom you want to work.
3. Home prices are still low — Now is an excellent time for a home investment.
4. Interest rates are still good — Mortgage interest rates have dropped again to about 5 percent annually.
5. You must have savings — A down payment is essential today.
6. Know all costs of ownership — A rule of thumb is to budget 1 percent of the home’s purchase price per year for upkeep.
7. Buyer beware — Invest in a home inspection before agreeing to purchase any home.

Foreclosure.com currently features more than 2 million distressed real estate listings in its nationwide database, including preforeclosures, foreclosures, Sheriff sales, bankruptcies, tax liens, auctions and much more. In short, we have a house for everyone … at the most affordable price.

So use the tips above, search our Web site for the best deals in your area and live your own American dream while the conditions are in your favor. Opportunities like this don’t come around very often.

To search for homes and other cheap real estate deals — often up to 50 percent off — right now click here.

Right now there are so many great discounted properties available throughout the nation that you can essentially “steal” them for dirt cheap prices.

On top of these amazing deals, as well as the limited-time tax credit for first-time homebuyers that expires on Dec. 1, 2009, banks are still offering fantastic mortgage rates to encourage spending.

In fact, rates recently dropped to less than 5 percent!

Mortgage applications have skyrocketed thanks to this “perfect storm” that has created ideal homebuyer conditions.

How can you not be tempted to capitalize on these opportunities of a lifetime?

All these facts add up to one major point: for the right property, the numbers make good, solid “cents” right now. There has literally never been a better time to get into distressed property investment.

The September 2009 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which is all about helping you figure out how to get your hands on the money you need to get started in distressed property investing.

We touch on everything, from funding options to tips for raising your credit score. We also cover how you can accomplish it all without experiencing any of the headaches that can often deter first timers.

So get ready to learn everything you need to know about financing your dream home at the best possible terms! Check out “Fund the Deal” today and get going before it’s too late — remember the clock is ticking to lock-in the best terms and incentives!

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

… we’ve got them in the most recent edition of the Foreclosure.com monthly email newsletter, “Investment Exchange,” which is now available for FREE right here.

Our April edition is the first of a two-part series that focuses on foreclosure investing, covering everything from how to find great foreclosure deals to how to analyze and flip them for monster profits.

We also provide educational resources that will help you better understand the foreclosure investing process, as well as some pitfalls for which beginners need to look out.

In addition, the newsletter contains a bonus article from Wall Street Journal best-selling author, nationally renowned speaker and major real estate investor, Robert Shemin.

To check it all out right now for FREE click here.

Foreclosure Tip: Search for local real estate agents – REO pros – who specialize in the foreclosure market.

The reason: Purchasing an REO is typically not as clear-cut as purchasing a home in the traditional sense. If a you are looking for a real estate “deal” then you should use a real estate broker who knows the ins-and-outs of foreclosure properties. In fact, REO agents often offer a team of skilled inspectors and repairmen who can help you spot and ward off trouble before you sign on the dotted line.

“REO” defined: When a lender takes ownership of a property as a result of the foreclosure process, the lender then calls the property an REO, which stands for “Real Estate Owned.”