Pimp My House - Have We Become Blinded By Stainless Steel?
On the rare occasion, my husband watches that TV show Pimp My Ride. I, quite frankly, don’t see the appeal. Finally, I had to ask him, “is all they do is add some flashy paint and a ridiculous interior with huge speakers and TVs in the trunk?” “Pretty much,” he said. So, if the engine is on it’s last leg and the rest of the car is falling apart at least it looks good and has a radio loud enough burst your ear drums? I just received a nod to the latter question.
There are similar shows on cable TV where individuals do the same thing with homes. These older homes are loaded with flash and glitz, but what’s “under the hood?”
Where am I heading with this? Well, today was the first agent tour of one of my newest listings. I’ve known the people who have lived there for the past seven years, and I know everything about this townhouse there is to know. I know they have installed a critical drainage system to eliminate potential foundation damage and wood rot to the rear of the structure – something many others on the same street have not addressed. I know they have, recently, built a two-car garage, installed a new fence in the back yard and have done other, albeit not glamorous, updates to the home. I did my homework, checked the recent comps and offered my opinion of what, I felt, was a fair asking price for the property – about $11,000.00 less than what the homeowners were hoping for, but they trusted my opinion. Virtually every agent who toured the home felt it was priced accordingly, except one. In fact, this person felt I was about $30,000.00 over what would’ve been his asking price. When I asked what his rationale was for such a dramatic price difference his response was short and simple, “no stainless or granite.” I will agree, we are in a competitive market, and I appreciate the look of stainless and granite as much as the next person, but is it the end-all to the value of a home? I have a hard time telling my clients that the $13,000.00 they spent on a detached two-car garage (which most of the comps did not have) and a much needed drainage system would have been better spent on replacing perfectly good appliances and counter tops – which would, most likely, be outdated in five more years.
I know, I know, stainless steel and granite are two of the things which make buyers all giddy in today’s market. But seriously, please take a close look at the big picture, and don’t become blinded by the shiny exterior.
Posted: September 6th, 2007 under Bluffton real estate, Westbury Park.
Comments: 12
Comments
Pingback from The Feed Bag - Even Darth Vader Took The Mask Off
Time: September 6, 2007, 8:55 pm
[...] in Bluffton explains why granite etc isn’t going to be part of this falls selection in Pimp My House - Have We Become Blinded By Stainless Steel? Required [...]
Comment from stacey
Time: September 6, 2007, 9:26 pm
Athol,
Thanks for sharing. Please don’t use the listing photos as one of your Bad Listing photos of the Day. I’m taking better ones in the morning, I swear!
Comment from Mike Graham
Time: September 6, 2007, 11:14 pm
Stacey, I’d have to agree with you. Clearly, the homeowners spent wisely on their upgrades.
Stainless and Granite will slowly become the Avocado Green of our generation.
Comment from stacey
Time: September 7, 2007, 1:19 pm
Thanks Mike,
I love the comparison to avocado appliances. Who didn’t have these in the 70s?
I could go on and on about this subject. But what is now a solid analogy, and valid point, could easily turn into an temperamental rant. So, I digress.
Pingback from The Feed Bag - Refried and Served Again
Time: September 9, 2007, 2:53 pm
[...] Stacey in Bluffton explains why granite etc isn’t going to be part of this falls selection in Pimp My House - Have We Become Blinded By Stainless Steel? [...]
Pingback from The Feed Bag - Refried and Served Again
Time: September 9, 2007, 2:53 pm
[...] Stacey in Bluffton explains why granite etc isn’t going to be part of this falls selection in Pimp My House - Have We Become Blinded By Stainless Steel? [...]
Comment from Louisville Real Estate
Time: September 9, 2007, 8:59 pm
Great article, good to see someone touching on this issue.
Comment from Columbus Real Estate
Time: September 11, 2007, 10:15 am
It is amusing how ubiquitous those two items have become. I wrote a similar post a little over a year ago. Nice blog. Keep up the good work.
Comment from The David Bragg Team
Time: September 11, 2007, 2:24 pm
Hi Stacey,
I cannot agree with you more. This is a very interesting point you bring up. Granite counter tops are a great addition to any home, but on a more primitive level one should really focus on the more important things a home has to offer when considering using it as their new home.
If a major storm rolls into Hilton Head you are not going to be thinking of your granite counter tops. You are going to start wondering when the last time was you had the roof inspected.
I wrote an entry in our blog inspired by your entry.
Please take a look at http://www.thedavidbraggteamblog.com
Thanks for the great insight Stacey.
The David Bragg Team
Comment from stacey
Time: September 11, 2007, 6:06 pm
Louisville RE,
Thanks. I’m sure you know, it’s a great time for home buyers if they make sure their priorities are in order. A remodeled resale may look more attractive than the well maintained home down the street. But it may be cheaper to upgrade the latter and end up with a much better home, and far fewer headaches.
David Bragg Team,
Thanks for swigging by. It’s nice to have a few more RE bloggers in the area. I read your your post. We’re on the same page.
Comment from Maureen Francis
Time: September 11, 2007, 10:10 pm
I have seen more than one buyer bedazzeled with something like the stainless steel and granite and willing to overlook something like a leaky foundation. Sad but true.
Comment from stacey
Time: September 16, 2007, 11:05 am
Joe P.,
Sorry your comment was caught by my spam filter.
But, yes, I agree. I actually feel a new kitchen trend is on the near horizon. Unless the homeowner is installing high end appliances (Wolf, Viking, Sub-zero) in a complete kitchen makeover, I would be hesitant on replacing appliances and counters which are still in good condition.
If the buyer really likes the home otherwise, but has their heart set on stainless, there are ways to negotiate around this.
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