Out: Gaudy. In: Practical
Hummer’s are out, BMW 3’s and 5’s are in.
Those, too, but I was thinking about the housing market equivalent: well-built and updated homes with all the bells & whistles in high-demand Twin Cities neighborhoods like Tyrol (Golden Valley), Fern Hill (St. Louis Park), and Linden Hills (Southwest Minneapolis).
Less than you might guess; judging from what I’ve seen this Spring, the ideal seems to be anywhere from high two’s (over 2,700 FSF) to mid-three’s (3,500 FSF) — provided the home’s floor plan is open and flowing.
Size “Sweet Spot”
What’s magic about that size home?
Put it this way: few Buyers today want (or need) the upkeep and maintenance — never mind property taxes — associated with a truly large home (over 4,000 square feet or so).
And fewer Buyers still want to tackle updating such a home.
Too, Buyers today want to feel that they’re using all the space they’re paying for.
The net result is that I see lots of older, bigger Twin Cities homes listed for $700k-$900k these days and seemingly languishing on the market.
Meanwhile, houses that are substantially smaller — but are new or completely updated — are asking only a little less . . . and selling much more briskly.