Although a home is a much more permanent investment than a tie or a pair of pants, some home features and designs will come in and out of fashion. As a real estate professional, you need to keep up with the times. You need to be able to advise sellers that yes, they really should pull up that shag carpeting. On the other hand, you have to be savvy enough to market the right home to the right buyer, whether its features are in demand or not.
No matter where you think we are in the economic recovery cycle, people are still feeling the effects of the recession. Even those who can afford to buy a new home are still playing out the psychological effects of the economic downturn.
What's Out and Why
Many of the (sometimes grandiose) nesting features that people wanted before the recession, like home theaters, have fallen out of favor. Instead, there are a lot of people out there looking for smaller homes where they can be cozier with their families.
Subdivisions that have a lot of special amenities like swimming pools, tennis courts and large clubhouses and exercise rooms are not as important as they once had been. One reason for this may be that prospective buyers fear unpredictable homeowner fees. Many think that even if they get a great deal initially, a rise in fees may hit them down the road.
What's In and Why
All things natural are very much in, in a variety of ways.
Although people were not thrilled about moving into subdivisions with pools and clubhouses, they did like the idea of a planned community with walking paths. With an increased interest in health and emphasis on affordable activities, walking paths are popular.
Our country's increased emphasis on environmentalism means that people want to see energy-efficient appliances and windows, ad well as homes that use "green" elements in construction.
And no matter what else goes in and out of style, kitchens matter a great deal. This is true for prospective buyers across the spectrum-those looking for condos, starter homes or palatial properties. Whether they cook often or not, people really want great-looking, up-to-date kitchens.