California Real Estate
What's In, What's Out
CA Real Estate Investment Outlook
There might not be a real estate bubble,
but inventory levels are rising and the competition is increasing among
builders, developers and home-sellers for homebuyers.
Real estate author and expert Mark Nash has an idea what buyers are dying for and what they will run from in 2008.
The majority of full-time real estate
agents hear a lot of feedback every day all year from homebuyers as they
visit potential resale and new construction homes.
They wonder why builders, developers and
home-sellers add finishes or upgrades that say "cheap" or
"soon-to-be-out-of-date", in addition to owners who think the laminate
wood-grained kitchen cabinets look fine.
Old stand-bys like solid oak hardwood
floors might not be on the design edge, but quality and durability out
sell trendy any day in residential real estate.
- Smaller square footage homes. After years of sprawl, new construction buyers want less space with better finishes.
- Quality kitchen cabinets. With the kitchen/great room the center of family living, buyers today are looking at furniture style cabinets.
- Wall space for flat screen TV's. Specify
power and cable boxes close to locations where homebuyers want to place
the latest in visual technology. The popular location for installation
in new construction is over the fireplace.
- Multiple and high-powered phone lines. With modems, DSL, wi-fi moving into mainstream use, tech-savvy homebuyers want "wired" homes.
- Separate shower stalls and bathtubs
in master bathrooms. The growing divide among "soakers" and "showerers"
is increasing. Not having one of each in a master bath could squelch a
- Built-in home stereo systems
are a must-have for many audiophiles. Wireless hasn't quite made the
pre-wired audio system home obsolete, at least not in 2008.
- Balconies and decks wider than 3 feet. Homebuyers want usable outdoor space. Big enough for a bistro table and chairs and a couple of pots for container gardening.
- Guest parking. With the rise
in condominiums, lofts and zero-lot line subdivisions, homebuyers want
their guests to have a hassle-free experience when they arrive at their
new home. Buy or lease an extra space for family or friends.
- Dog Parks. Dogs and
homeownership go hand-in-hand. The new way to meet neighbors in the hood
is to interact with them at the dog park. Before buying a home, check
out the nearest one.
- Ranch or one level homes. The baby-boomers are discovering their utility in droves.
- Second Homes. The
baby-boomers are also keeping this market segment strong. Demand for
second homes was still on the upside in 2007, but if primary home demand
weakens, the second home market will historically follow.
- Seller give-backs. With a
more balanced market in most metro markets, requests by buyers to pay
closing costs have increased, and some sellers are paying them.
- Carbon Monoxide detectors.
Home inspectors red flag homes that have only smoke detectors.
Inexpensive and life-saving, install one on every floor of a home before
opening to homebuyers.
- The real estate bubble. It's a correction with a soft decline in prices.
- Ebony-stained hardwood floors. You're better off tearing it out than trying to sand the ebony out to refinish.
- Single-rod closets. Buyers want the most storage in the least amount of space. Organizers accomplish this.
- Dark rooms with small windows. Natural light can over-rule a lot of other problems in a home.
- Wallpaper. Buyers never have the same taste as decorators. Take it down (carefully) and paint.
- Builder grade light fixtures and interior fixtures used outside. The right fixtures say quality to buyers.
- Mid-century awnings on exterior windows and doors. Buyers want to let the sun shine in.
- Mirrored backsplash's in kitchens and everywhere else. Mirrored walls and ceilings say 1980's hedonism.
- Commitment (strong, bold trendy) colors. They look great in magazines, but as one buyer said to me "I don't live in a magazine".
- Gas grills that need their own tank. Buyers prefer the gas piped from the house so they don't have to replace tanks.
- Dropped ceilings. It might have updated a bungalow in the 1950's, but buyers want as much vertical space as possible.
- Flipping. Increasing
inventories of unsold homes is increasing, signaling weakening demand by
all buyers. If you are holding properties to flip, prepare to place
them on market after the holidays.
On the way out:
- Stainless steel appliances. Word-of-mouth says the cleaning requirements aren't for everyone.
- Laminate flooring that looks like hardwood. Not only can buyers tell it's not wood, the noise it makes with high-heel shoes is the deal killer during property showings
Mark Nash's fourth real estate book "1001
Tips for Buying and Selling a Home" (2005) and a real estate broker in
Chicago are the foundation for his consumer-centric real estate
perspective which has been featured on CBS The Early Show, Bloomberg TV,
Fidelity Investor’s Weekly, Dow Jones Market Watch, MSNBC.com, The New
York Times, Universal Press Syndicate and USA Today.
Chicago, IL (PRWEB) November 30, 2005 --
Amazon.com review and book description, author background:
"1001 Tips for Buying & Selling a Home" is an invaluable
reference for anyone looking for the ins and outs of buying or selling a
home. From selecting the right real estate agent to make the process
less stressful, to learning the process of buying and selling a home
from the first showing to closing, Nash teaches you what to look for in
your mortgage, home inspector, and other transaction participants.
Nash offers recipes for smooth selling of
your home, negotiating tactics, and reality-based advice to guide you to
a successful closing. Also included is a handy, helpful glossary with
definitions of real estate terms and a Resource Appendix that points you
to additional information via websites, organizations, and government
About the Author
Mark Nash is a Broker Associate with
Coldwell Banker Residential Brokerage serving real estate consumers on
the north shore and in the city of Chicago. Well seasoned in the dynamic
real estate trade, Nash was previously affiliated with Prudential
Preferred Properties, where he helped create the "Prestige Homes"
marketing program for niche upper bracket properties. A President's Club
member since 1999, he was also a member of the coveted President's
Circle, comprised of the top 5 percent of sales associates with
Prudential Real Estate nationally.
is a Number #1 Expert ® real estate website. An established author,
Nash's previous work includes The Original New Agent's Guide to Starting
& Succeeding in Real Estate (South-Western, 2004), which received
five-star reviews from Midwest Book Review and the National Association
of REALTORS ®, as well as national media focus on Bloomberg TV. He is
also a co-author of the well-received Reaching Out, the Financial Power
of Niche Marketing and Fundamentals of Marketing for Real Estate
Professionals (Dearborn Real Estate Education, 2003 & 2004).
Mark is a contributing writer for REALTOR ®
Magazine Online and Illinois, Michigan and Texas REALTOR ® Magazines
and a contributing reporter on local market conditions for Realty Times.
Kitchen Cabinet Refacing & Resurfacing
Window Treatments and Replacements
2005-2007. EntertainmentMagazine.net / EMOL.org / AZentertain.com