I’m a Real Estate Appraiser: 6 Things To Know About US Home Values Right Now

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It’s no secret that the housing market has been a very arduous one for homebuyers lately. Inflation, soaring mortgage rates, and an inventory drought have left many would-be buyers on the sidelines and owners hesitant to sell.

Yet, when it comes to home value, experts said that some features can help sell homes faster, and appeal to more customers.

Here are some of these, according to experts.

Move-In Ready Homes

The biggest thing buyers want right now are move-in ready, turnkey, updated homes, so they’re paying top dollar for these properties, according to Clare Trapasso, Realtor.com‘s executive news editor.

Trapasso explained that with high home prices and mortgage rates, they want to know that their money is well spent, with most buyers’ interest in updated and functional kitchens and bathrooms.

“The last thing many want to do is purchase a home and then embark on a pricey renovation,” she said. “They may not have the money left over to do so.”

She added that curb appeal is important as well, as buyers are less interested in homes in need of a fresh coat of paint with overgrown lawns and untrimmed bushes.

“Cute, well-priced, homes in good condition in desirable areas are selling briskly, often in bidding wars,” she said.

Additional Space

During the pandemic, additional space became a priority. Homebuyers sought out larger homes with big yards, said Trapasso. “Pools were also very popular as were home offices and home gyms,” she said.

Today, space is still important to buyers, especially flexible space that can be used for a variety of different purposes.

This trend is noticed by several other experts. Sebastian Jania, owner of Ontario Property Buyers, also said that one thing that helps property sell faster and for more money is when there is the potential to add additional units such as through a basement unit or an accessory dwelling unit (ADU).

“In today’s times, it is not uncommon for buyers to be factoring in that they may need to have a mortgage helper so properties that open up this possibility are in greater demand,” he said.

Low Maintenance and Easy Homes

This is another trend that makes some homes more popular and quick to sell.

“People want to live their lives without the burden of the time required for maintenance and the extra budget,” said Sean Barron, real estate salesperson at Long & Foster Real Estate. “I believe this is what makes all the new construction apartment rentals are trending upward.”

He noted that while buying a fixer-upper is appealing to an investor, he sees fewer people wanting to grow sweat equity, and more people wanting turn-key ready.

“People want ease,” he said. “People want an easy-to-maintain home, in an area that’s easy to navigate to work or school, and that has all the amenities locally.”

Upgraded Heating, Ventilation and HVAC Systems

HVAC systems with energy-efficient models, programmable thermostats, zoning systems, and indoor air quality enhancements also can enhance your home’s value, some experts said.

“These improvements not only attract eco-conscious and tech-savvy buyers but also offer long-term cost savings,” according to Brad Roberson, president, of Aire Serv, a Neighborly company. “Obtaining energy efficiency certifications like Energy Star can further showcase your home’s commitment to efficiency and potentially lead to a quicker sale with higher offers.”

He added that in high-end homes, advanced HVAC trends are prevalent, and can include a slew of features.

For instance, smart thermostats for remote control, zoning systems for individualized climate control, geothermal heating and cooling for energy efficiency, or radiant heating and cooling through floor systems. 

“These features cater to the preferences of discerning luxury real estate buyers who prioritize comfort, energy savings, and environmental responsibility,” he said.

Plumbing Features

Some of these can significantly enhance a home’s value and appeal to potential buyers.

“Upgraded fixtures, such as modern faucets and showerheads, not only improve aesthetics but also functionality,” said Matt Kunz, president, of Mr. Rooter Plumbing, a Neighborly company.

In addition, energy-efficient appliances such as water heaters, dishwashers, and washing machines help reduce utility bills, attracting eco-conscious buyers.

According to Kuntz, in high-end homes, plumbing feature trends often combine luxury and technology to provide an exceptional living experience.

For example, these can include smart plumbing systems that enable remote control of water usage and temperature through smartphone apps. Another example is spa-like bathrooms with steam showers and high-end fixtures, as well as radiant floor heating for added comfort, which are common features.

“Whole-house water filtration and purification systems ensure clean water throughout the home, appealing to health-conscious buyers,” he said, adding that rainwater harvesting systems, dual-flush toilets, and touchless, sensor-activated faucets align with eco-conscious trends.

Trendy Terms for Most Sought-After Features

According to Realtor.com Economic Data Analyst Hannah Jones, buyers continued to look for access to the outdoors this summer but kept values in mind as well. In June, July and August of this year, the search tags that drew the most attention relative to the typical U.S. listings were ‘furnished’, ‘wrap-around porch’, ‘wooded land’, ‘fixer-upper’ and ‘waterfront,’ said Jones.

In addition, she noted that homes that were tagged as ‘furnished’ brought in almost 50% more viewership than the typical U.S. homes.

“Homes with a ‘wrap around porch’ brought in 39% more viewership compared to the typical home, while ‘wooded land’, ‘fixer-upper’ [brought in] 36% [each] and ‘waterfront’ brought in 30% more views than the typical home, respectively,” she added.

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