What's Selling in a Slow Market

According to Hovnanian Enterprises, Toll Brothers, John Laing Homes, Kimball Hill Homes, David Weekley Homes, Drees Homes, and Orleans Homebuilders, their top-selling models are priced between $500,000 to $2 million and boast numerous specialty rooms.

Among the most popular features are angled entries that visually enlarge interior space, game rooms, sunrooms, bigger pantries, walk-in closets and smaller living rooms. To preserve resale value, many buyers want dining rooms, even though they will take most of their meals in spacious “morning rooms” near the kitchen.

Builders are offering these rooms without expanding the home’s square footage. Unlike sellers of existing residences, builders say they can attract buyers with tens of thousands of dollars in free upgrades that enhance the home without boosting the price due to their ability to purchase materials in bulk.

Source: Wall Street Journal (06/15/07) P. W8; Fletcher, June© Copyright 2007 INFORMATION, INC. Bethesda, MD