Archive for June, 2011
Advantages of Buying in a Slow market- Home buyers looking for remodeled homes!
June 20th, 2011 categories: Real Estate news
Daily Real Estate News | June 20, 2011 |
Share
What Today’s Home Buyers Desire
Home buyers have high expectations for their purchases this
year, the most critical of which may be a really great deal. In addition to more
bang for the buck — and the bragging rights that go along with a superior
bargain — today’s house hunters also are looking for incentives, such as gift
cards that they can use to decorate their new home or financial assistance at
the settlement table.
Another important
desire of buyers is that the property be well-maintained. “I’m not working with
too many people who want a fixer-upper,” says Pat Vredevoogd Combs, vice
president of Coldwell Banker AJS Schmidt in Grand Rapids, Mich., and past
president of the National Association of REALTORS®.
Current NAR President Ron Phipps agrees. More often than not, he
explains, “buyers have limited amounts of cash. Even if they want to do a
fixer-upper, they don’t have the money to do it.”
That is true even for buyers of bank-owned properties, says real
estate broker Joan Pratt of RE/MAX Professionals in Castle Pines, Colo. “They
want the short sales and the foreclosures, and they want them to look like
they’re owner-occupied,” she says. “They don’t want to paint. They don’t want to
put carpet in. They don’t want to clean.”
Modern buyers also favor open kitchens; open floor plans; and outdoor
living components, such as screened porches, exterior kitchens, and two-way
fireplaces. Additionally, the environment is increasingly important, with
today’s prospects seeking out elements such as triple-glazed windows and
energy-efficient appliances.
Repurposed
materials matter, too. “We’re seeing lots of different materials and lots of
reusable materials, which is interesting,” Phipps notes. “Also a lot of unusual
uses of hardwood — like pine flooring (reclaimed and) reused for counters,” or
terra cotta slabs for countertops. Buyers in 2011 are indicating a preference
for smaller homes, but they like them nicely appointed. Luxurious elements such
as coffee bars in the master bedroom are gaining popularity, as are expensive
finishes in not-so-expensive homes.
Source: “Nine Items Homebuyers Desire in
2011,” Bankrate.com, Dana Dratch
(June 16, 2011)
| Discussion: 1 Comment »
