What's Hot and What's Not in 2008

Posted at 12:05 PM, Aug. 29, 2008

Every year Coldwell Banker's star agent and real estate columnist Mark Nash tells us what's in and what's out with Home Buyers.

In:

Here is an obvious one, home buyers.  They are calling the shots and they want updated kitchens and baths, pristine condition and a perception of value.  That last one be key!

Short Sales.

Pet Showers.  No longer are buyers satisfied with bathing the pooch in the tub. 

Outdoor Living Spaces that Look Intertior.  Statement fireplaces, custom kitchens, heating flooring and walkways, artwork and fabrics that can tolerate the elements. 

Down Payments.  Good old-fashioned saving is expected.

A Homes Carbon Footprint.  Home buyers want to know how their potential new home can save the plant.

Multi-Use Hand Held Devices.  Control everything in the room with one remote.

Concealed Appliances.  Hinged and pocket doors are more popular than matching cabinetry for hiding appliances.

Non-Smoking Homeowners Association.  Decs and By-Laws are being re-written to prohibit homeowners from smoking in their units and in common areas.

OUT:

Unrealistic Home Sellers.  These relics of another time and market missed the cocktail party chat and water cooler angst by the transitional sellers of 2007.  Cautions included: pricing your home right the first time, consider home-sale contingencies, and offer closing cost givebacks.  Hear-no-evil sellers were overlooked by buyers who pined for reality minded ones.  Because if sellers were flexible with buyers' needs, buyers bought.

Living Rooms.  The great room is what is in.  Open living spaces combined with the kitchen and dining areas to allow family and friends to congregate together.

Empty For Sale Homes.  Buyers expect homes to be lived in.  Stage it and stage it right with neutral colors and thoughful furniture rental is more appealing.

Double Digit Home Value Appreication.  Get rich quick is out.  Normal flat or single-digit appreication is what is going around.

Order Taking Real Estate Agents.  During the boom, everyone and anyone got licensed and into the frenzy.  It is the seasoned, full-time, professional agents who were able to produce the fifth highest year in real estate sales in 2007.

McMansions.  Size means little if it's not well finished.  Home buyers want quality, not quantity. 

Obese Ceiling Heights.  It's cheaper to go up than out.  That was the reasoning behind the past residential design.  Buyers want ceiling heights between nine and eleven feet.  More than that, is a waste.  Even more so if the room is under 10 by 12. 

Pioneering Locations.  Buyers are steering away from take-a-chance hoods.  They now what the tried-and-true address keeping resale desirability firmly in mind.

Balconies As A Marketing Gimmick.  Real balconies that can fit a table and chairs along with a grill is what is expected, not the anorexic appendage hanging off the building. 

Pre-Construction Pricing.  Get rid of the "everything's an upgrade" mentality. 

On The Way Out:

Mosaic Tile.  Once deemed the ultimate tile, is now considered a very personal design commitment to the previous owner.  The cost and waste to remove is over-whelming to buyers and could very well cost the deal.

Retro-1970's Chic.  No more trend designing they cry!  The desire is looks that will remain in no matter what the trend.

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