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10-12-2007, 10:47 PM
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Real Estate Agent
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Join Date: May 2006
Location: Raleigh, NC
5,087 posts, read 4,531,747 times
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Quote:
Originally Posted by NChomesomeday
Oh, I see your point, Vicki. I guess I was thinking from my perspective. We're not into new construction. I'd rather have a house with good "bones" and update where needed. But that's just me.
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To be honest NChomesomeday, sometimes I have buyers that don't want a house because the rooms are painted colors they don't like and no matter how often I explain that paint is cheap, they just can't visualize! Same with countertops, etc. You are right that some things are easy "fixes" but so many people want a house thats just "move in" ready. Thats why so many people prefer a new house. However, I have noticed that more of our homes that were built in the 1980s and 1990s are selling well. I think its because so many people want an established lawn WITH trees.
Vicki
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10-12-2007, 10:48 PM
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Senior Member
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Join Date: Sep 2007
460 posts, read 486,690 times
Reputation: 88
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Quote:
Originally Posted by NChomesomeday
Oh, I see your point, Vicki. I guess I was thinking from my perspective. We're not into new construction. I'd rather have a house with good "bones" and update where needed. But that's just me.
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Your perspective is that of many people. Not everyone buys new. Some people like 'trees'  (eta: Vicki and I were posting at the same time about trees - lol)
Quote:
Originally Posted by MikeJaquish
Technically, I agree.
But when the Buyer is working with limited cash, and that $250,000 home needs $4,000 to upgrade the tops, it is easier sometimes to consider looking elsewhere.
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Yeah, that's what I'm wondering. In resells, how much does granite matter in those price points? I'm thinking you'd have to be judicious in how the upgrade money is spent so that you don't price your house too high in that neighborhood.
In Woodcroft, there was a home for sale 2 weeks ago that was more expensive than others, but they had granite, stainless, blah, blah, blah. It was gorgeous, and move in ready, but it was significantly more expensive than other houses.
On the flip side, the other houses I saw, while in my favorite neighborhood, and while they were awesome on the outside, and had lots of space...as I went through them, my inner cash register was adding up how much I'd have to spend to bring it 'out of the 80's'.
The house I bought was built in the 80's but the previous owners were well traveled, and made certain upgrades that made the house that really resonated with me (ie exotic wood floors). The floors, the floorplan, and the 'views from all windows' sold me on the house. I didn't really notice the outdated kitchen and bathrooms. They weren't 'bothersome', just not 'updated.' But after looking at a LOT of HGTV, I'm thinking it will be an issue for most buyers when I go to resell.
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10-12-2007, 11:02 PM
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Senior Member
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Join Date: Jun 2007
3,034 posts, read 2,345,962 times
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We've owned 3 houses together since we've been married (I had a townhouse before we got married--new: needed nothing, and he had a small 2 bed house that he got for a song and put very little into but it was in a well sought after neighborhood).
The first house was in a well sought after neighborhood: West Seattle. It was a 3 bed, 2 ba ranch built in the 40's. It had a nice view of Puget Sound (that alone made it worth it!) We did a lot to that house--added a great deck, replaced all the windows, put a French door from our bedroom out to the deck, finished the basement, upgraded the kitchen and bathroom, yanked out the shag carpet and refinished the hardwoods, and finished off a small unfinished part of the basement for a home office.
I loved that house. We had our first 2 children there. If we were still in Seattle, we most likely would have fled to the 'burbs by now but who knows? Maybe we would have put on a second story (even better view!) and put the kids in private school.
Our second house was a 10 year old house in NoVa in move-in quality. Put down your suitcases and you're home. Except I never really felt "at home".
Our third house was built in the early 60's in a small town in MA. It was also a "fixer". We stripped wallpaper, painted everything, refinished the basement, expanded the deck and after about 3 years there, added a large family room and totally gutted and redid the kitchen (and I finally got my granite countertops). Well , you guys alll know the financial disaster we went through after 9/11 but we hung on by the skin of our teeth and borrowed pretty heaviy against the equity in that house to try to keep it. We gave up the fight last Feb and it was heartbreaking. We sold before prices in MA could slide further and after paying off 1st, 2nd and debts, we're left with not a whole lot of money for another down payment. So we're renting. I hate where we're renting.
We still really want to leave the area and come down to NC because we think we can rebuild our finances more quickly and become homeowners again sooner. But it's now looking like we're going to be here for at least 2 more years. So I've been looking at getting out of this place we're renting and moving. My little town doesn't offer much in the way of rentals so I've expanded to incude the next town over. Different school district--the kids would have to switch schools. But they already know so many people there from various sports and activities and the fact that we basically lived on the town line for 10 years. In fact the swim team is combined between the two schools!
I'm veering off topic here but in my hunt for a place we could stand longer term, we stumbled into a 3 bed, 1 ba house on a very large lot (about 3 acres) in that next town over. It's in decent shape but needs updating and of course, with 3 kids, the size is not very attractive. But the owner has really clicked with us and though we've been looking elsewhere, he came up with a proposal of a lease/option with him carrying back the mortgage for 5 years. If we elect to stay here, this is a really good deal. The house would be bought for less than market value, even in this sliding market and our rent payment would go towards the down. FUrther, we'd have 5 years to really clean up/clean out our credit issues and apply for conventional financing at a decent rate. The biggest issue is (here's where the remodel stuff comes in) whether or not we want to sqush for 6 mos to a year while we ink out the deal with the owner. Then hubby, who used to be a contractor, can pretty much add on a 4th bedroom and 2nd bath himself. The rest ot the house has those good "bones" I was talking about and really is in need of just some updating. The kitchen/family room area is very large and flows well.
It's a lot to think about!
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10-12-2007, 11:38 PM
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Bond Park is my 2nd home
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Join Date: Aug 2006
Location: Cary, NC
1,659 posts, read 1,721,150 times
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Quote:
Originally Posted by NChomesomeday
Countertops are easily replaced. I wouldn't let that turn me off of a home.
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It doesn't turn me off either  But I calculate the cost in my head to replace it. If the price is right I can add my own personal taste. Then I think I couldn't have lived with a generic white countertop for 10-20 years. But to each their own. 
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10-13-2007, 12:29 AM
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Bloom where you're planted
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Join Date: Nov 2006
Location: Portland, Oregon
3,046 posts, read 1,605,837 times
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Quote:
Originally Posted by coltank
Actually, I prefer Quartz countertops, since they are not porous.
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I agree. Engineered or Quartz countertops are the latest. I like the contemporary look and they come in great colors.
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10-13-2007, 12:57 AM
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Senior Member
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Join Date: Sep 2007
Location: Cary, NC
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While I wouldn't say it's essential, I don't understand why people think it's such a negative thing that buyers are looking for "granite" or "stone" in every price point. I hear a lot of talk about trends and cycles. Do people actually believe that granite will look dated in a couple years and that the future of kitchen countertops is laminate or formica?
I love the quartz. The durability is great; if I accidentally set a hot pan or plate on it, I don't need to rip out the whole counter. It's fairly easy to clean. The material lasts longer than laminate. What's not to love?
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10-13-2007, 01:11 AM
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Member
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Join Date: Sep 2007
14 posts, read 21,666 times
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I personally don't like Granite. I prefer the ZodiaQ Dupont surface which is a quartz. I also like some of the higher grade Corian and you don't need to remember to seal it every year like Granite. Granite is also more likely to chip or crack.
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10-13-2007, 01:43 AM
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Senior Member
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Join Date: Sep 2007
460 posts, read 486,690 times
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Quote:
Originally Posted by jinxor
While I wouldn't say it's essential, I don't understand why people think it's such a negative thing that buyers are looking for "granite" or "stone" in every price point.
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I re-read the thread, and no one said it was a 'negative thing' that buyers are looking for granite at all price points. When I first moved into my home, I wanted to upscale several things, but people said it was out of 'touch' with the neighborhood. But now I'm seeing 'some' listings where people have granite...most new condos in the $200k range are all going up with granite, too.
My question is more geared toward trying to figure out if granite (or upscaled) counter materials are now going to be considered 'standard' requirements by buyers in all(more) price points.
Quote:
Originally Posted by jinxor
I hear a lot of talk about trends and cycles. Do people actually believe that granite will look dated in a couple years and that the future of kitchen countertops is laminate or formica?
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LOL! I thought that was pretty funny, too. Kind of like wondering if blue eyeshadow and legwarmers will make a come back.
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10-13-2007, 04:29 AM
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Senior Member
Status:
"didn't get to wander, oh well"
(set 4 days ago)
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Join Date: Mar 2007
976 posts, read 902,382 times
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Well, as someone who is going to be buying soon-asap, when we get our job transfers-I am looking for granite/possibly quartz countertops. I think they look better and will last much longer than laminate. At this point in my life, I have zero interest in rehabbing another home (like we did with our first) and I want what I want this time. In my mind and at my pricepoint, if I see a home with old laminate, I automatically subtract $ from any potential offer I'd make.
Not saying I wouldn't make an offer on a dated home, although it would not be my first choice. I would, however, likely make an offer quite under asking price.
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10-13-2007, 06:09 AM
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Senior Member
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Join Date: Jan 2007
179 posts, read 195,131 times
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It's interesting how one's perspective changes when you are a seller or a buyer regarding needed updates. As for the granite "look" and stainless appliances of whatever quality, they've been around for a while, are no longer upper end upgrades, and I suspect will be dated before too long-just like white cabinets are now and ubiquitous red dining rooms.
What is making me scratch my head as a soon-to-be-buyer is how MANY of the resale homes I've reviewed on the internet have done NO updating, yet have listing prices that are just barely under new home list prices. The development in which my husband and I are most interested has a 15 year old resale needing complete updating listed at the same price as a new home in the development of the same size--and at 15 years old you have to consider the roof as well. What are they thinking?
We're unafraid of doing the updates ourselves, but sellers have got to get a grip on how much money it would cost to make their resale home liveable and factor in the hassle that is shifted to the buyer along with all of the updating tasks.
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