Here's the list you've been waiting for!
- Sidelined home buyers. Family or lifestyle additions or changes made in buyers households in the last three years are forcing those waiting out the market transition to finally get off the fence and say, it's time for our family to buy the new home that suits our new needs.
- Home uplifts. Not a big renovation, but some new finishes that can visually holdover stay-put home sellers. Not a gut rehab to the studs new kitchen, but new flooring, countertops and appliances.
- Collaborative home pricing. The old days of home sellers configuring a homes price are out. What's new is that the seller with their agent look at closed comparables, set a price, then the buyer and their agent agree or disagree, but in the end, a mortgage lender and their appraiser will set the price, as they are assuming the most risk in the transaction.
- Balanced reporting by real estate and personal finance journalists. Consumers learned in 2008 that the 'doom and gloom" residential real estate market headlines don't apply to all markets. What's been lost in the hype is that there are still stories of homes selling in short market times (in as little as 1-3 days), homes selling at full price and some selling with multiple contracts on the table.
- Creative home seller financing. Exhausted home sellers are turning to self-financing to move properties. Installment sale contracts and lease-to-own are the most popular and effective ways for sellers to begin to receive income from a property that has languished on the market in 2008.
- Real estate agents as a housing resource, not a salesperson. New-age real estate agents help consumers through the home sale or purchase process which takes a skilled agent who is not driven by sales, but by providing resources to help the consumer determine if they should buy or sell a home. Home ownership is not for everyone. Factors such as a job move in 3 years or less, marginal credit and lack of interest in home maintenance can be reasons for a resource-driven agent to advise their client not to buy.
- Property tax appeals. With home prices dropping, many savvy home owners are appealing their property taxes. This is especially attractive to those looking to sell their home in 2009. With a competitive marketplace, those with the most realistic taxes are more likely to offer buyers an overall lower expense in home ownership.
- House therapists. Divided partners in a home are increasingly relying on an independent third party (house therapist or coach) to bring household relationships to common ground on such prickly issues such as to stay or move, how much to spend on remodeling or decorating, or spending nothing at all. Third parties can outline the benefits and pitfalls of over-spending on a new larger home or weighing in on a spouses desire to over-improve for the neighborhood. With less equity and with the financial stakes higher smart couples hire a home therapist to wrangle concessions and agreements out with their significant other instead of doing damage to their relationship by going head-to-head with them.
- Architectural overhead garage doors. After years of bland vanilla garage doors, the architecture has permeated the door most people look at the most. Traditional styling has arrived with mullioned windows, faux wrought iron hinges and latches that provide the original non-overhead garage door look. Contemporary looks now include the adjacent siding applied over the door for a seamless look, much like the panels installed on refrigerator doors to complement cabinets in a kitchen.
- Loveseats. A pair or trio is gaining acceptance as the functional way to rearrange a living or family room. Consumers appreciate the ease at which they can rearrange them, move an extra one to another room, or provide long-term furniture flexibility in future homes. Plus, they're tired of sitting miles away from others on oversized sectional sofas.
- The master bed as a throne. With consumer spending down and more nesting at home, home owners are focusing on making their bed like an at-home luxury hotel experience. Posh linens, pillows and mattresses create a getaway without leaving home.
- Older war-horse appliances. Collectable, working appliances from the 1940's through the late 1980's have found a new niche among homeowners who appreciate their rock-solid construction and durability. Harvest gold double ovens from the 1970's have been repainted a metallic red and go from boring to bold. Cold spot refrigerators from the 1950's refinished in sky blue perks up the butler’s pantry in suburban home. And, the early 1960's dryer that looks like it's from George Jetson's house painted pink to match punches up the in-unit laundry room in a condominium.
- Dining chairs that don't match. With consumers watching their non-essential spending closely and electing to stay home to entertain friends, many have found a quick pick-me-up for their dining room suite, mismatched pairs or single chairs. Feedback from friends or family has been favorable to this easy and cost effective way to say welcome to my cutting edge table.
- Obama-era paint colors. President elect Barak Obama will add a fresh, younger and forward-looking feel to residential interior paint decor in the spaces at The White House where he and future First Lady Michelle have a say. Look for parchment whites, cashmere yellows, bright optimistic blues and radiant golds. Depressing Bush era colors such as plum, chocolate brown, rusty mustard and pale sage will gladly be replaced by more optimistic colors in American homes.
What do you think?
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