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Yet another day of house searching. What we found is that the best deals are on homes from the 1990's that have Masonite siding. Is Masonite siding something that causes the price of the house to be lower? What are the concerns about it? Should we avoid any homes that have it? When did they stop using it around here?
It isn't the masonite siding that causes the houses to be less expensive.
Brand new is more expensive than exsisting. North Raleigh and Cary are more expensive than Holly Springs.
If you are looking to spend X dollars and want to live in North Raleigh, you may only find houses in your price range that were built in the late 80s and early 90s and most of those houses are Colonials that used masonite siding.
If you like houses built in the 50s, you'll find split levels, in this area.
Vicky is right, but Masonite should reduce the price because it sxxks....Masonite had a recall a few years back and a class action case but im pretty sure the time has expired on it. The problem was if it is not caulked properly water will leach under the siding and then absorb into the product causing rot and water damage as well as warping effect which looks bad. Hardy plank is the product you need to use to replace that stuff and can cost you.
Vicky is right, but Masonite should reduce the price because it sxxks....Masonite had a recall a few years back and a class action case but im pretty sure the time has expired on it. The problem was if it is not caulked properly water will leach under the siding and then absorb into the product causing rot and water damage as well as warping effect which looks bad. Hardy plank is the product you need to use to replace that stuff and can cost you.
Your right about the cauking. The major factor in the cases were method of installation, rather than a defect in the product. If it was properly installed it provided adequate protection from the weather or elements. Inproper installation led to water damage and then rot and structual damage which typically was not covered by the manufacturer's warranty, because it was not a manufacturing defect.
While Masonite has its share of problems and bad press, I think that generally a 10 to 15 year old home needs to be priced aggressively for a couple of other reasons, too.
A lot of the time a home that is 10 to 15 years old in our area will have had 2 or 3 owners. None of them stayed in the house long enough to really stay committed to maintaining it, so those homes tend to need work at that age. Major systems begin to fail, roofs and siding start to look and perform poorly, kitchens become obsolete.
The other factor is psychological. We are in a market that favors new construction, and as a result builders and developers are always trying to move the needle with new floorplans, elevations, and all of the very latest design trends in color and materials on the interior. If you go out and look at what features builders are including this year, it can make a home that is even only 6 to 8 years old look horribly outdated (bright brass light fixtures and door hardware, anyone?) That puts downward price pressure on those homes because people start calculating what it will cost to bring the cosmetics up to current preferences.
There was a home on the same street I used to live on that remained for sale for nearly 18 months while no less than 6 of the 30 homes on the street (including mine) sold in 90 days or less. Same floorplan, neutral exterior, great condition, nice landscaping, no lot objections (in fact it was arguably a better lot than the rest). All of the homes were built between 2002 and mid 2003, but this one was the first one occupied by the first owner,who had built the home from scratch and done all of their interior selections themselves. The home was vacant when it was listed, and it was in a neighborhood that would have been considered 'hot' at the time (and one that has still held up well even in the current market).
It was the only home with a white laminate kitchen in the group-everyone else had maple or cherry cabinets. It also had granite countertops ,but in a very strong emerald green color- all of the rest of us had corian in more subtle shades. It was the only home with very light hardwood floors-everyone else had chosen mid to dark tones. It was the only home with all bright brass switchplates and outlet covers. It was the only one with all bright brass lighting fixtures and cabinet knobs.
All of these selections were made just as those preferences pretty much left the market, and the house immediately looked dated.
The house was mispriced from the start, but it still got plenty of showings for the first 6 months. After that point, every realtor who had shown it got sick of hearing the same negative feedback from buyers about those details, and they got sick of prefacing a showing with "It's a beautiful home on a great street in a great neighborhood in the most coveted school district in the county that just needs a little updating". The house just went dead in the market.
There is a sale pending on the house right now, and I'll bet that when it closes it will have sold for FAR less per square foot than all of the rest of us got. The listing price had been reduced by $100,000 during its time on the market-$100,000.
Vicky is right, but Masonite should reduce the price because it sxxks....Masonite had a recall a few years back and a class action case but im pretty sure the time has expired on it. The problem was if it is not caulked properly water will leach under the siding and then absorb into the product causing rot and water damage as well as warping effect which looks bad. Hardy plank is the product you need to use to replace that stuff and can cost you.
Can an inspector readily recognize if there is damage? Or is it kind of hidden damage behind the walls you can't see? It would be very dissapointing to find that out after you've bought the house.
Can an inspector readily recognize if there is damage? Or is it kind of hidden damage behind the walls you can't see? It would be very dissapointing to find that out after you've bought the house.
If you know what to look for, finding bad masonite is easy, but you can't see if the house is okay without pulling the boards, which can be scary. The best thing to do is inspect the house carefully, paying attention to corners and edges. Push the board with your finger so find any softness that indicates compromised boards, and visually inspect for good paint and caulk seals. If any board looks puffed up, its because its absorbing water.
Some houses have flashing under the board to protect against moisture, but most do not, so you need to be careful. If a house has good bones, normal maint is easy and inexpensive, but if it has bad bones (moisture in the house between siding and wood, cracked foundation, shifting, soft wood, extensive termite damage), stay away.
I myself have a masonite house and its fine. When I originally looked at it, there were some bad pieces and I inspected the work when the siding guys came after my home inspection, and saw that the house was dry, the board was just starting to go. I've started replacing old pieces with cement board as necessary and yearly caulk any holes I find, and there are no issues. As long as its maintained you will be fine - you just have to be aware of its potential problems.
While Masonite has its share of problems and bad press, I think that generally a 10 to 15 year old home needs to be priced aggressively for a couple of other reasons, too.
A lot of the time a home that is 10 to 15 years old in our area will have had 2 or 3 owners. None of them stayed in the house long enough to really stay committed to maintaining it, so those homes tend to need work at that age. Major systems begin to fail, roofs and siding start to look and perform poorly, kitchens become obsolete.
The other factor is psychological. We are in a market that favors new construction, and as a result builders and developers are always trying to move the needle with new floorplans, elevations, and all of the very latest design trends in color and materials on the interior. If you go out and look at what features builders are including this year, it can make a home that is even only 6 to 8 years old look horribly outdated (bright brass light fixtures and door hardware, anyone?) That puts downward price pressure on those homes because people start calculating what it will cost to bring the cosmetics up to current preferences.
There was a home on the same street I used to live on that remained for sale for nearly 18 months while no less than 6 of the 30 homes on the street (including mine) sold in 90 days or less. Same floorplan, neutral exterior, great condition, nice landscaping, no lot objections (in fact it was arguably a better lot than the rest). All of the homes were built between 2002 and mid 2003, but this one was the first one occupied by the first owner,who had built the home from scratch and done all of their interior selections themselves. The home was vacant when it was listed, and it was in a neighborhood that would have been considered 'hot' at the time (and one that has still held up well even in the current market).
It was the only home with a white laminate kitchen in the group-everyone else had maple or cherry cabinets. It also had granite countertops ,but in a very strong emerald green color- all of the rest of us had corian in more subtle shades. It was the only home with very light hardwood floors-everyone else had chosen mid to dark tones. It was the only home with all bright brass switchplates and outlet covers. It was the only one with all bright brass lighting fixtures and cabinet knobs.
All of these selections were made just as those preferences pretty much left the market, and the house immediately looked dated.
The house was mispriced from the start, but it still got plenty of showings for the first 6 months. After that point, every realtor who had shown it got sick of hearing the same negative feedback from buyers about those details, and they got sick of prefacing a showing with "It's a beautiful home on a great street in a great neighborhood in the most coveted school district in the county that just needs a little updating". The house just went dead in the market.
There is a sale pending on the house right now, and I'll bet that when it closes it will have sold for FAR less per square foot than all of the rest of us got. The listing price had been reduced by $100,000 during its time on the market-$100,000.
Excellent post, and very true - most sellers don't spend the $5k it takes to bring a house up to date and lose out on tens of thousands on resale. Some fresh paint, new fixtures and carpet, and most older homes will look as good as new homes, plus have grown-in yards. A lot of sellers see the brass fixtures, dark toned paint of the 90s, and stained carpet and just walk - they can't see or don't want to make the improvements to bring an older house up to contemporary style, yet a seller can easily see $50k lost by not doing these simple things.
Can an inspector readily recognize if there is damage? Or is it kind of hidden damage behind the walls you can't see? It would be very dissapointing to find that out after you've bought the house.
It depends on the damage and if it has caused visible damage otherwise its undetected.
Moderator cut: quote you are referring to has been removed
A bit OT, but when I was looking at houses, the mid-90s houses were masonite but looked to be holding up well, the 2001+ "knock em up" homes were looking shabby, vinyl siding was falling off, trim was worn out, definite shortcuts were starting to show. Imo, the contractor homes are not as well built today as they were in the 90s.
Last edited by autumngal; 08-18-2008 at 03:14 PM..
Reason: mod edit quote
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