Most full-time real estate agents hear a lot of feedback every day throughout the year from home buyers when they view potential resale and new construction homes. They wonder why home builders, developers and sellers add finishes or upgrades that say “cheap” or “soon to be outdated” plus homeowners who think wood grain laminate kitchen cabinets look good. Old standbys like solid oak hardwood flooring may not be at the forefront of design, but quality and durability are the best-sellers in residential real estate any day. After a year of showing properties in 2005 and eight years prior with homebuyers, as well as consumer requests after reviewing “1001 Tips for Buying and Selling a Home” in The New York Times, I’ve compiled a list of home runs. and strikes. -outs for those looking to sell to 2006 homebuyers.
What’s up
-Smaller square footage homes. After years of expansion, new construction buyers want less space with better finishes.
-Quality kitchen cabinets. With the kitchen/great room being the center of family life, today’s buyers are looking for furniture style cabinets.
-Bamboo wood floors. It might overtake maple as the favorite light-colored hardwood floor in 2006.
-Wall space for flat screen TVs. Specify cable and power boxes near where homebuyers want to place the latest in visual technology. The popular location for installation in new construction is above the chimney.
-Multiple and high power telephone lines. With modems, dsl, wi-fi moving into mainstream use, tech-savvy homebuyers want “wired” homes.
-Separate shower cabins and bathtubs in main bathrooms. The growing divide between “soakers” and “duchadores” is increasing. Not having one of each in a master bath could stifle a purchase.
-Integrated home stereo systems are a must for many audiophiles. Wireless hasn’t made the pre-wired home audio system obsolete, at least not in 2006.
-Balconies and terraces more than 3 feet wide. Homebuyers want usable outdoor space. Large enough for a bistro table and chairs and a couple of pots for container gardening.
-Guest parking. With the rise of condos, lofts, and zero-lot subdivisions, homebuyers want their guests to have a hassle-free experience when they arrive at their new home. Buy or rent an additional space for family or friends.
-Dog parks. Dogs and home ownership go hand in hand. The new way to meet your neighborhood neighbors is to interact with them at the dog park. Before buying a house, check the nearest one.
-Ranch or one level houses. Baby boomers are discovering their utility in droves.
-Second Homes. Baby boomers are also keeping this market segment strong. Demand for second homes was still on the up in 2005, but if demand for primary homes weakens, the second home market will historically follow.
-Seller returns. With a more balanced market in most metropolitan markets, buyer requests to pay closing costs have increased and some sellers are paying them.
-Carbon monoxide detectors. Home inspectors red flag homes that only have smoke detectors. Inexpensive and life-saving, install one on each floor of a home before opening it up to homebuyers.
What’s outside
-The housing bubble. It is a correction with a smooth drop in prices.
-Ebony stained hardwood floors. Better to rip it out than try to sand the ebony to restore it.
-Wardrobes with a single bar. Buyers want the most storage in the least amount of space. The organizers achieve this.
-Dark rooms with small windows. Natural light can nullify many other problems in a home.
-Wallpaper. Buyers never have the same taste as decorators. Take it down (carefully) and paint.
-Builder grade lighting fixtures and interior fixtures used on the exterior. The right accessories tell buyers quality.
-Mid-Century awnings on exterior doors and windows. Buyers want to let the sun in.
– Mirrored backsplash in kitchens and everywhere else. Mirrored walls and ceilings say the hedonism of the 80s.
-Commitment colors (strong, daring and fashionable). They look great in magazines, but as one buyer told me, “I don’t live in a magazine.”
-Gas grills that need their own tank. Buyers prefer piped gas from the house so they don’t have to replace tanks.
-Falling ceilings. You could have updated a 1950s bungalow, but buyers want as much vertical space as possible.
– Flipping. Unsold home inventories are rising, indicating weakening demand from all buyers. If you have investment property, be prepared to put it on the market after the holidays.
At the exit.
-Stainless steel appliances. Word of mouth says that cleaning requirements are not for everyone.
-Laminate floors that look like hardwood. Buyers can not only tell that it’s not wood, but the noise it makes in high-heeled shoes is the deciding factor during property showings.
