Karen Bruno, Home Buyer in New York, NY

Are contemporary homes in this market less desirable than traditional styles? What kind of mark down would?

Asked by Karen Bruno, New York, NY Fri May 1, 2009

you expect?

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Answers

2
Hi Karen - It's true that some architectural styles are more popular than others. Right now in our local area, shingle style is extremely popular. But popularity in styles changes over time. In addition, many homes don't fit neatly into a single style. While many Buyers do not care for contemporary, many do. In particular, contemporary is a popoular style for waterfront properties, because the oversized windows allow panoramic views. And some of the most expensive homes and listings in the area are contemporary.
I would not discount, or mark down, a listing price on a home just because the style is contemporary. It may take longer to sell but this is true of many homes that lean strongly towards a particular style and away from neutral.
0 votes Thank Flag Link Fri May 1, 2009
Hi Karen,

Yes, in general contemporary homes are less valuable in New England than more traditional styles like capes & colonials . All else being equal (location size, amenities, condition), maybe 10-15%. Its hard to nail down. Location & Condition have the most significant impact on value in this market.

Good luck,
Send an email if you have any more questions.

Michael
0 votes Thank Flag Link Fri May 1, 2009
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