What Buyers Want

It is hard to say where the market is going these days in this area. One thing I know, is that we currently have a shortage of good listings. There are still plenty of short sales and distressed homes coming on the market but what is missing is an inventory of homes that show well. Buyers are out there in droves. There has been a lot of pent up demand built up over the past few years. The strong local economy combined with  mortgage interest rates that are so low that it is obscene has generated a large pool of folks wanting to buy a home. However, with the recent recession under their belt many young buyers are choosing to be very picky about the homes they look at. We are not seeing the rush to plop down good money on just anything that comes on the market. Most buyers who are not investors want more bang for their buck when considering a home purchase. I would have to say that one of the biggest factors is the age of the kitchen. New or refurbished kitchens are in high demand with new bathrooms being a close second. If you are selling a home with a 20-30 year old kitchen  then you are going to have to be patient and price it correctly. There are two factors driving home sales these days- product and price. Exposure is not necessarily the issue. Any good Real Estate Company is going to get your home exposed on the Internet. But if your product (home) is not in top shape then your only choice is to consider the asking price. You must measure what the competition has to offer and act accordingly. I realize that this is not rocket science. But many sellers are having a hard time adjusting to the realities of the market. Yes, we are in a competitive market with hungry buyers. However, the buyers out there are looking for value and passing up on the average or the overpriced. They are limiting their choices to homes that are in exceptional condition and/or have an attractive low price.

Shotgun Shack?

Many of you who regularly drive on Jones Bridge Rd. in Bethesda are familiar with this home. For thirty years I have driven by the home and wondered about it. It seems so out of place in Bethesda where so many of the homes are upscale. There is a history to this home and the neighboring community that I will perhaps write about at a later date. The question for today is exactly what style of home is it? I have been doing some research but have come up with a few style descriptions that this home might fall under. I kind of think it is a two level "shotgun" style home.  Shotgun homes are more typically found in the South and generally consist of one level only. However, I did find a few examples of two level shotgun homes. If you want to see some great examples do a search for images of  shotgun homes in New Orleans. You can get a good idea of what the style is like from the many examples found in that city. The most important thing in defining a shotgun home is that there are typically no hallways. The houses lead from front to back and one room (generally the living room first) leads directly into the next, usually through a single door.

I asked my friend Gordon Bock, the former editor of  "Old House Journal" and author of a few books on renovating historic properties, and he was not sure if it is a true shotgun house. However, Gordon admitted that he was not sure which style the home could be classified under as well. How about you? Want to take a stab at it. I would be interested to hear your comments and opinions about this home.