Housing market is hot - yet I see homes more than 30 - 60 days on market (power lines, second mortgage)

[Ralph_Kirk]

Originally Posted by globe9

Not hating on it, just not my thing. I like an updated look, not retro.
When granite and stainless are out of fashion, I'll update my house. I don't want to live in a time warp. That's just my personal opinion. Im not hating on anyone who likes retro. To rleach their own.
I was just commenting on how many people in this area seem to live in outdated homes. You yourself mention how easy it is to paint paneling, replace cabinet doors, replace countertops fairly inexpensively etc, yet none of the houses I've seen online have done these easy updates since 1960. I was just curious as to why it seems so prevalent here. I've never seen your house nor was I referring to it, so please don't take my comments personally. I was just commenting on the Dallas area as a whole and my observations. Just my opinion.

They bought a house they liked and their tastes didn't change.

Most people's tastes don't change, unless they're committed to being trendy. Unless the house changed hands several times and the economy of the day provided a buyer with money for remodeling, it's very likely not to have been remodeled.

[TheOverdog]

Unless the house changed hands several times and the economy of the day provided a buyer with money for remodeling, it's very likely not to have been remodeled.

Exactly, and for the past about 30 years, most neighborhoods have been moving down or sideways in the market as the newer homes were built north and west. So you don't remodel, you move north or west.

[BigDGeek]

Originally Posted by Ralph_Kirk

They bought a house they liked and their tastes didn't change.

Most people's tastes don't change, unless they're committed to being trendy. Unless the house changed hands several times and the economy of the day provided a buyer with money for remodeling, it's very likely not to have been remodeled.

Yup. Plus a lot of old-school Texans are pretty frugal and don't see the need to spend money to replace something that is perfectly functional.

If someone gave me $100k to remodel my house, I'd do it in a heartbeat. I can think of tons of things I'd like to do to it. But that's not going to happen. I have to spend my OWN money to do it, and I can't make the logical leap to spend thousands of dollars remodeling an area that doesn't NEED to be remodeled. I guess the old school knows the difference between "need" and "want."

Plus, home equity loans here have only even been legal for what, 15 years tops? Also consider that equity here builds slowly and some people (myself included) still feel queasy about taking out a loan secured on our own home just to make cosmetic updates to it.

There's also this to consider...a homeowner may sock money away for a dream kitchen or brand-new bathroom, but that money vanishes when an expensive foundation problem pops up, or BOOM...need a new roof that insurance won't pay for because it wasn't destroyed by hail. Or, OOPS! there goes the bathroom budget because we need a brand-new AC system.

Lots of factors to consider.

[globe9]

Originally Posted by Ralph_Kirk

They bought a house they liked and their tastes didn't change.

Most people's tastes don't change, unless they're committed to being trendy. Unless the house changed hands several times and the economy of the day provided a buyer with money for remodeling, it's very likely not to have been remodeled.

Really? Tastes dont change? So everyone with that bright orange formica countertop straight outta the Brady Bunch still loves that look in 2014?
Y'all are also acting like I'm suggesting $100,000 makeovers. A new coat of paint, replacing cabinet doors, and updated fixtures are not that expensive and something people have done everywhere else I've lived.
I guess I'll chalk it up to they just buy a new house or something when their tastes change. I've just never seen anything like it. I can't think of one single person with old wood paneling that hasnt at least been painted in New Orleans, Atlanta or Nashville. Texans sure are a different breed. Of course these "frugal" people who's taste don't change are in brand new cars every 3 years and filling up the multiple malls buying new clothes.

[BigDGeek]

Originally Posted by globe9

Really? Tastes dont change? So everyone with that bright orange formica countertop straight outta the Brady Bunch still loves that look in 2014?
Y'all are also acting like I'm suggesting $100,000 makeovers. A new coat of paint, replacing cabinet doors, and updated fixtures are not that expensive and something people have done everywhere else I've lived.
I guess I'll chalk it up to they just buy a new house or something when their tastes change. I've just never seen anything like it. I can't think of one single person with old wood paneling that hasnt at least been painted in New Orleans, Atlanta or Nashville. Texans sure are a different breed. Of course these "frugal" people who's taste don't change are in brand new cars every 3 years and filling up the multiple malls buying new clothes.

My wood paneling is painted. My counters aren't orange, they're seafoam green. Not what I would have chosen, but they're functional. They will need to be replaced in the near future but for now, I can live with them. Formica/laminate counters can also be painted if they're in good condition.

I saw some houses that had not had any updating at all as you stated, and I passed on them because there was too much work to be done on them plus they all had at least one dealbreaker like no gas, a leak under the slab, crappy layout, etc. One house had lovely finishes and was obviously a flip. I was ready to make an offer on it until I read the seller's disclosure which stated that the house had aluminum wiring. Kind of pathetic that the flipper spent so much on stupid skip trowel finishes on the walls instead of ripping the wiring out and redoing it.

[TurtleCreek80]

Originally Posted by Ralph_Kirk

They bought a house they liked and their tastes didn't change.

Most people's tastes don't change, unless they're committed to being trendy. Unless the house changed hands several times and the economy of the day provided a buyer with money for remodeling, it's very likely not to have been remodeled.

In the older in-town neighborhoods, homes tend to get a remodel/ refresh every 20 years. Sometimes that's when the home changes hands as the owner would rather just buy a different house than live through planning & executing a major remodel. Other times, the family loves their block/neighbors, location, lot, etc so much that they update the house to look relevant again. This can take $100k's or can be done on the cheap, focusing on cosmetics like paint/ wallpaper, light fixtures, hardware, and floor coverings.

However, 20 years is about the lifespan of major home decor trends. I'd say we're about 5 years into the grey paint + white kitchen trend ("light and bright", as realtors call it) and the late 1990-2000's Pottery Barn color scheme with heavy brown/ leather furniture is about 5-10 years from being really passé.

People have to be pretty obvlivious to the outside world if their tastes haven't changed in 20-30 years. Not having money to remodel is one thing; thinking a 1980's brass + Formica + wallpaper home is "relevant" in 2014 is completely a different thing.

[globe9]

I'm not referring to your house when I wonder about the quantity of non updated homes, but since you keep bringing yours up. Those seafoam green Formica countertops would have been one of the first things to go. I spend a large amount of time in my home and I want it to be pleasing to the eye and something I enjoy looking at every day. I like nice modern updated finishes and have no problem purchasing what I want to create a look I like. I have a good job and have no debt other than my small mortgage. I work hard and like to come home to a home that expresses me. In the next 15-20 years my taste will most certainly evolve as new products and finishes become available. I will update my home accordingly. Apparently, that's not so common here in N.TX. oh well, that's what makes everyone unique I guess. Who knows seafoam green and pepto pink may make a comeback one day.

[DRob4JC]

With regards to the topic in general, if houses are available for 30-60 days, there is a reason.

If people put out a good cleaned up product, it will go pretty quickly.

[BigDGeek]

Originally Posted by globe9

I'm not referring to your house when I wonder about the quantity of non updated homes, but since you keep bringing yours up. Those seafoam green Formica countertops would have been one of the first things to go. I spend a large amount of time in my home and I want it to be pleasing to the eye and something I enjoy looking at every day. I like nice modern updated finishes and have no problem purchasing what I want to create a look I like. I have a good job and have no debt other than my small mortgage. I work hard and like to come home to a home that expresses me. In the next 15-20 years my taste will most certainly evolve as new products and finishes become available. I will update my home accordingly. Apparently, that's not so common here in N.TX. oh well, that's what makes everyone unique I guess. Who knows seafoam green and pepto pink may make a comeback one day.

I've made other changes to the house that took priority over the counters. I intend to change them but for the last couple of weeks I've been dealing with an air conditioning problem. I also got laid off last fall, started then walked away from a business, and the only money I've had coming in was from a 3-month contract that is already over and I'm job-hunting aggressively right now. I also live alone, so my income is the only income.

Priorities. That's all I'm saying. Priorities. Consider yourself fortunate if the color of your kitchen counter is the only thing that's troubling you, or if there's nothing else competing for your hard-earned money.

[MckinneyOwnr]

Originally Posted by globe9

Really? Tastes dont change? So everyone with that bright orange formica countertop straight outta the Brady Bunch still loves that look in 2014?
Y'all are also acting like I'm suggesting $100,000 makeovers. A new coat of paint, replacing cabinet doors, and updated fixtures are not that expensive and something people have done everywhere else I've lived.
I guess I'll chalk it up to they just buy a new house or something when their tastes change. I've just never seen anything like it. I can't think of one single person with old wood paneling that hasnt at least been painted in New Orleans, Atlanta or Nashville. Texans sure are a different breed. Of course these "frugal" people who's taste don't change are in brand new cars every 3 years and filling up the multiple malls buying new clothes.

My parents gradually updated their home in Plano (built in 1984) to be more modern. They started with the country kitchen... wallpaper was stripped off, granite counters put in, updated appliances, etc. Then they did the great room... new Brazilian cherry hardwoods and fresh paint. Redid the office, etc.

However, the family room did have the wood paneling, and they never updated it. In their case though, it was a very nice looking room. There's a big difference between cheap paneling and high end stuff that you still find today in homes with a designated office/study.