[quote=flu][quote=AN]I understand that this will be newer than most SFR in MM, but will this drive down the houses in MM that were built in the 90s without those new home features, like great rooms, home networks, etc. If you have a houses that’s built in the 80s-90s that has been remodeled with these features, would buyers view it in the same light when both are resale?
Wouldn’t taste change 10-20 years from now and some of these features will be outdated, just like some of the features that were the in thing in the 80s-90s?[/quote]I think quite the opposite possibly. If the ultimate result attracts new buyers who presumably have a higher economic background (being that these homes are in the 600’s and that the days of crazy financing have gone), I think the only thing that would happen is the neighborhood gets better, not worse. Folks with higher income levels will raise the levels in spending in local areas, school scores, etc. And this will feed on itself.[/quote]
I understand the effect of getting new more expensive housing stock built in an area. I agree with all the advantages you listed. My post was in response to sdr’s statement that there’s a cachet with new homes. So, I asked if the cachet will fetch $200k premium. If it does, then what would it do to those homes that currently enjoy the cachet of being the newest homes in the area. If anything, I was hoping it would drive down those houses so I can pick one up for myself :-D. I hate these new houses with narrow and TINY lots. I thought my lot is already is small at 5200 sq-ft. For $650k, I rather pick up something like this one: http://www.sdlookup.com/MLS-110041512-6181_Sunset_Crest_Way_San_Diego_CA_92121. It currently enjoy the “newest house/development” cachet. If that cachet is gone, I was hoping I can pick it up for high 500s :-D.
