A couple of days ago I shared author Mark Nash’s research on some hot new trends in housing. Here’s the opposite—what Nash says is out in 2007.
-“As is” in home sale marketing. Anything went in the boom market, but if you’re planning to use “as is” in 2007, forget it. The two letter-two word kiss of death, buyers see it as a red flag about the home and you the seller. You have too much competition to be chasing buyers away.
-Bedrooms not large enough for a bed. In the boom, rehabbers and
developers learned the fastest way to profit was to increase the room count of a home of an existing home. Bedrooms shrunk to walk-in closet size when a four-room one-bedroom was gut-rehabbed into a four-room two-bedroom. Savvy agents kept asking, can you fit a queen-size bed in either room? And the answer was usually, no.
-Glass upper kitchen cabinet doors. Buyers say it looks great, but
many who specified and experienced it, firsthand don’t have the time to keep their kitchen cabinets organized. Plus if you hate washing the windows.
-Bowl-shaped bathroom sinks. The splashing and up-keep have earned these the reputation of nice to look at, but you don’t want one.
-Any shiny metal finish. Brushed nickels and pewter’s are in. Antiqued and polished brass is out.
-Stainless-steel refrigerators and dishwashers are a fading trend. The cold look and higher maintenance of steel is shifting buyers to specify warmer colors.
-Spiral staircases. Once the rage for mid-seventies make over’s, now death to a home seller. The boomers have aged, their kids don’t like them, unfriendly to pets and young children. Take yours out and put in a standard staircase (inside or out) before you sell.
-Bamboo floors. The first reviews are in on this popular eco-friendly flooring and they’re not pretty. They’re easily dented and scratched and prone to warping from variations in our climate and humidity levels.
Hardwood laminate floors. These noisy poor relatives of
solid hardwood don’t stand up to multiple sanding’s to change color or to remove stains.
-Home sellers who smoke in their home while it is being marketed. Buyers hate second-hand and stale smoke odors. Marketing your home is not the same as living in it. If you have to smoke go outside.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.