Have foreclosures and short-sales affected the quality of NEW homes?

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

Have foreclosures and short-sales affected the quality of NEW homes?The current real estate market has caused a paradigm shift in the way buyers think about real estate.

The old notion that “more is better” has given way to “less is best.” Buyers simply do not want to put a lot of money into a house during a declining market.

Builders in Coweta County Georgia has responded to consumers by purchasing  existing lots at fire sale prices, and by downgrading the product finishing to make the price as attractive as possible.

What was once a stone or tile shower is now a one piece fiberglass unit. Where there was once crown molding, now there is none. Carpet has crept over most of the space that at one tome would have been a hardwood floor.

It makes you wonder if perhaps we had come to the point where we expected too much in the first place.

Perhaps simpler is better. At least it is more affordable, that’s for sure!

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Topic:
ActiveRain Community
Location:
Georgia Coweta County Newnan
Groups:
BananaTude
Diary of a Realtor
Realtors®
The Lounge at Active Rain
"Whacked"!!!
Tags:
new homes
quality of new homes

Comments 12 New Comment

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Ambassador
1,620,774
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Ginny...

Here we are talking about homes under $200K ... some under $150K. So there's not a lot of ma gin to work with. Thanks my friend.

Barbara ...

But if they could get a brand new 2500 SF house for $150K they just might rethink that position! Thanks so much.

Andy...

"Out of whack!!!" That's for sure my good fellow. Thanks for jumping in to the fray!

 

February 16, 2012 09:31 AM
Rainmaker
1,267,722
Kristin Johnston, Waukesha Realtor 414-254-6647
Waukesha County Realtor, RE/MAX Buyer Agent
RE/MAX Realty Center

Yeah, I think everyone has certainly been babied...you watch HGTV (sigh) and see first time home buyers expecting granite, hwfs, etc..

February 16, 2012 09:32 AM
Rainmaker
591,182
Laura Giannotta
Your Realtor Down the Shore!
Keller Williams Realty - Atlantic Shore

Builders in my area are building smaller homes, but the buyer still demands and gets the amenities...Tile baths, granite courter tops etc.  Buyers will forgo square footage.

February 16, 2012 10:03 AM
Rainmaker
1,657,601
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY

Not many spec homes being built.   The last one I saw was just that, cheap materials.  Trying to keep the price down so that it will appraise out.

February 16, 2012 11:28 AM
Ambassador
777,207
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Our area is not seeing a huge amount of construction but builders are covering the bases from standard to all the bells and whistles. 

 

February 16, 2012 12:28 PM
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Richard Weisser Coweta Newnan Homes for Sale
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Additional Information

Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

Coweta Fayette Real Estate allows you to search the entire Georgia MLS for free with NO registration required!

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