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Does Size Really Matter? Yes and No!

The size I am referring to is the square footage of a property which a buyer is seeking to purchase or which a seller is seeking to list and sell.

Let me begin by addressing the issue as it pertains to the home search when a buyer is seeking to purchase a property. One of the most frequently asked questions is how many square feet is the property, along with number of bedrooms, location, asking price, and so on. While these may be important questions when doing a comparative market analysis, two properties the same size and of the same square footage may “live” differently to each prospective purchaser.

For instance, one property may have larger bedrooms, which the purchaser is seeking, or one may instead have a larger kitchen or family room area, sacrificing bedroom sizes. Perhaps this fits a purchaser's needs rather than having the larger bedrooms. Although it adds absolutely no livable square footage, only cubic square footage, one property may have vaulted or higher ceilings, making the property “feel” more expansive. So, from the real estate agent's point of view, just because a prospective purchaser states they want to invest in a property of so many square feet, there is no reason to narrow their choices solely because of square footage. Therefore, size really doesn’t matter.

When listing a property on the MLS, an agent must identify the approximate number of square feet in the home for sale. As a general rule, this footage should be an amount that is actual living, or air conditioned, square footage. It should not include screened porches, patios, balconies, or garages, although those can be mentioned as amenities or features.  It is also required that the agent disclose where they have obtained this information. It could come from several sources--the agent, appraiser, appraisal district, owner, building plans, or a plat. The most reliable is the appraisal district or the appraiser.

If for any reason, the agent suspects the footage is not accurate, it is their responsibility to do further research to ascertain the correct information.  There have been complaints filed with the Texas Real Estate Commission involving inaccurate disclosure of square footage information, and real estate agents have been reprimanded when they should have known (or did know) that the specific listing information was incorrect from the beginning. If there is conflicting information from more than one source, it is a good idea for the listing agent to quote the other source under “Remarks” on the MLS listing. So, in this case, size really does matter!

Author: Greg Fain
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Greg Fain is a licensed Real Estate Agent and sales manager for Coastal Properties GMAC Real Estate.

 
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Greg Fain is a licensed Real Estate Agent and sales manager for Coastal Properties GMAC Real Estate.


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Home Buyer Must Haves – Today
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These days, buildings are trendy, kitchens are seriously trendy, baths can be elevated to high fashion, and ceilings are certainly cutting edge.

New buyers are demanding that their properties meet high design standards. And it is surprising where the décor fashions are popping up.

The first buyer must have – Ceilings

Popcorn ceilings are now the pinnacle of bad ceiling style. Smooth is in and acoustic popcorn spray is seriously out. This is odd as the new ceiling height expectations make popcorn texture barely visible. 9 – 11 foot ceilings are now the desirable norm. In addition, architecturally accented ceilings are favorable. Add a tray design, raised panel for lighting, or barrel ceiling for maximum trendiness.

The second buyer must have – Lighting

Florescent lights are officially a bad idea. Preferred lighting includes pendant lights, track lighting, and recessed lighting. Additional accent lights are a big deal as well. Buyers like to see under the counter halogens, over the cabinet lighting, or even lit glass cabinets. To combine trends, include accent lighting in your raised tray ceiling design. Bathroom lighting has grown up, too. A row of round vanity bulbs on a mirrored fixture won't meet with buyer enthusiasm.  Look for stylized fixtures often flanking the mirror.

The third buyer must have – Bathrooms

A traditional vanity with faux marble top has been met with disdain in recent seasons. Tile top or granite has been better received. Bathroom sinks have changed, too. The pinnacle of trendiness are raised bowl sinks with faucets mounted in the wall above. They may be glass, porcelain, stone, or even wood. They are almost too pretty to spit toothpaste in. Fiberglass shower surrounds are out as well. Buyers prefer a tile or granite surround. Open showers without doors are a unique new trend. Of course, these must be cleverly designed to prevent flooding.

The fourth buyer must have – Flooring

On South Padre Island we don’t see a lot of carpet anymore. Living areas are definitely covered in a hard flooring. Tile, marble, travertine, bamboo, or hardwood are acceptable. Tile sizes have changed, too. Traditional 12 inch tiles are a thing of the past. Now 14 – 24 inch tiles have become the favorite. Colors are fairly neutral, but quality is a big consideration.

The fifth buyer must have – Architectural Elements

New builders have been getting creative. Otherwise vacant walls are now sporting elegant niches. Some may be deep enough for shelves, others are shallow lit spaces designed for displaying art. Door frames that used to be square are now soaring arches. Cathedral ceilings may make room for high sculpture storage, and accent windows are appearing everywhere.

Feeling less than trendy? These kind of specific changes may not be a remodel option for older, low ceiling properties with Hollywood baths and nicheless walls. But don’t be alarmed. Someday smooth ceilings will be sprayed with popcorn again, and owners of high ceilinged homes will be wondering why their electric bills are so high. These trends too shall pass.

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The real estate advisor magazineOur Real Estate Advisor magazine is full of articles, real estate trends, and advice. Plus, it includes all the best listings for South Padre, Port Isabel, Laguna Vista, and the SPI Golf Course. Contact us to have a copy of the magazine mailed to you or click here to download a .pdf version.

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