Will premium features be freebies?

[temeculaguy]

I’m with Kev, it’s an edge. It may not be the driving factor but it is a factor especially if there are comparable nearby homes listed. In a way it has a price factor because I have my minimums and anything lacking those, I back out the cost of those when determining the price. For instance, I hate honey oak cabinets and tile countertops with grout because I’m lazy and granite or corian is easy to clean. I also want stainless or at least new and higher end appliances (a quiet dishwasher with a built in disposal). I also hate carpet, laminate flooring, vinyl flooring, and glossy tile. Wood, tile or some other natural flooring or I will put it in before moving in and my offer will reflect my cost of doing so. Putting in flooring, counters or cabinets is a pain in the butt while you live there. So is there a value to places that are already “dialed in” and modern? YES. Will they get back every nickel they put into it? NO!! That is why I would prefer to buy the one that has the upgrades, because it’s easier and cheaper to get it the way you want when there is so much out there to choose from and if a place lacks these things, they have to lower their price to compensate. It’s like buying a car without air conditioning, right off the bat, you’ve lost half the potential clients and of those that are left, they will want a price reduction commensurate to the lack of air.

[temeculaguy]

I’m with Kev, it’s an edge. It may not be the driving factor but it is a factor especially if there are comparable nearby homes listed. In a way it has a price factor because I have my minimums and anything lacking those, I back out the cost of those when determining the price. For instance, I hate honey oak cabinets and tile countertops with grout because I’m lazy and granite or corian is easy to clean. I also want stainless or at least new and higher end appliances (a quiet dishwasher with a built in disposal). I also hate carpet, laminate flooring, vinyl flooring, and glossy tile. Wood, tile or some other natural flooring or I will put it in before moving in and my offer will reflect my cost of doing so. Putting in flooring, counters or cabinets is a pain in the butt while you live there. So is there a value to places that are already “dialed in” and modern? YES. Will they get back every nickel they put into it? NO!! That is why I would prefer to buy the one that has the upgrades, because it’s easier and cheaper to get it the way you want when there is so much out there to choose from and if a place lacks these things, they have to lower their price to compensate. It’s like buying a car without air conditioning, right off the bat, you’ve lost half the potential clients and of those that are left, they will want a price reduction commensurate to the lack of air.

[kev374]

for me as well…granite countertops and stainless steel appliances are non-negotiable. Personally I think tile countertops look aweful and very dated, I don’t like them at all.

[kev374]

for me as well…granite countertops and stainless steel appliances are non-negotiable. Personally I think tile countertops look aweful and very dated, I don’t like them at all.

[kev374]

for me as well…granite countertops and stainless steel appliances are non-negotiable. Personally I think tile countertops look aweful and very dated, I don’t like them at all.

[kev374]

for me as well…granite countertops and stainless steel appliances are non-negotiable. Personally I think tile countertops look aweful and very dated, I don’t like them at all.

[Bugs]

During this runup the builders grossly exagerrated the costs of those upgrades and options in their pricing. As in, 300% or more in many cases. Regardless of the health of the market those massive premimums become almost invisible after about 5 years or so anyway. As a couple of you have noted they add to the marketability of the property more than the value upon resale.

[Bugs]

During this runup the builders grossly exagerrated the costs of those upgrades and options in their pricing. As in, 300% or more in many cases. Regardless of the health of the market those massive premimums become almost invisible after about 5 years or so anyway. As a couple of you have noted they add to the marketability of the property more than the value upon resale.

[Bugs]

During this runup the builders grossly exagerrated the costs of those upgrades and options in their pricing. As in, 300% or more in many cases. Regardless of the health of the market those massive premimums become almost invisible after about 5 years or so anyway. As a couple of you have noted they add to the marketability of the property more than the value upon resale.

[Bugs]

During this runup the builders grossly exagerrated the costs of those upgrades and options in their pricing. As in, 300% or more in many cases. Regardless of the health of the market those massive premimums become almost invisible after about 5 years or so anyway. As a couple of you have noted they add to the marketability of the property more than the value upon resale.

[kev374]

how much should we adjust the price downward for missing features, i.e. how much does it cost to put these things in?

Granite countertops
Hardwood floors (assuming typical 1700sqft house)
stainless steel appliances

[kev374]

how much should we adjust the price downward for missing features, i.e. how much does it cost to put these things in?

Granite countertops
Hardwood floors (assuming typical 1700sqft house)
stainless steel appliances

[kev374]

how much should we adjust the price downward for missing features, i.e. how much does it cost to put these things in?

Granite countertops
Hardwood floors (assuming typical 1700sqft house)
stainless steel appliances

[kev374]

how much should we adjust the price downward for missing features, i.e. how much does it cost to put these things in?

Granite countertops
Hardwood floors (assuming typical 1700sqft house)
stainless steel appliances

[bjensen]

You know, I may be on the low end of the income scale for this community… and the age scale for that matter.

I have yet to clear 100k a year and am only 26. For me, I am more concerned with practicality… and will probably be equally concerned when I feel we are in the market trough. I already have a wife and newborn baby to support.

I just think that most crappy one/two bedroom condo conversions were going a little overboard with the premium construction.

I am glad to hear that you all seem to agree that I will not be forced to pay for luxury materials just because every REO has them.

[Author]

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