The usual suspects
In competitive market, home sellers compelled to offer same top brand names, amenities
When Fergal Woods began re developing a four-unit brownstone in Boston's South End last September, he noticed something was missing.
Woods poured over the checklist: Top-of-the-line granite countertops, Brazilian cherry wood floors, Sub-Zero refrigerators, and Jenn-Air cook tops. Surround sound audio and plasma screen televisions are also included in each of the units, which range in price from $679,000 to $1,095,000.
But in the brownstone's front rooms where Woods was installing gourmet kitchens and living areas, he discovered the omission.
``The fireplaces were all blocked up and bricked over and hadn't been used in years," he said. ``And you have to have a working fireplace in the South End."
Home sellers such as Woods seem to have almost no choice but to offer brand-name appliances and top-of-the-line amenities to entice buyers in the current soft real estate market. Whether it's a condo in the South End or South Boston, a home in Weston or Whitman, the floors have to be hardwood (preferably an exotic type), the countertops granite, and the refrigerator -- whether Sub-Zero or Frigidaire -- had better be stainless steel.
No fireplace? Forget about it. Unless you have a Jacuzzi.
Woods not only restored all of the fireplaces in each unit, but their ornate mahogany mantels as well -- a detail that he said was crucial for attracting the right buyers.
``It's not 2002 where people would buy anything just because it was for sale," said Woods. ``Buyers have more choices today, so I have no choice but to offer them everything. Top-of-the-line appliances, plasma screens, mantels, and fireplaces -- you can't afford to leave anything out."
Woods said he felt obliged to offer a similar lineup of appliances and amenities -- including adding electric fireplaces -- in more modestly priced condos he developed in South Boston.
Yet in their race to distinguish themselves, home sellers risk having their properties look alike -- or at least sound alike -- because they tend to buy the same brand or style of appliances or other features. After a while one unit with ``granite kit w/ ss appl and hdwds" sounds like any other.
Diane Saatchi, a senior vice president with the Corcoran Group real estate firm in New York, said there is a ``herd mentality" in her industry. Saatchi, who was in the psychology field for 18 years before becoming a real estate developer, said home buyers are driving much of this trend.
``Within communities and social groups, there are the standard `must-haves' for homes and few people are secure enough to stray from them," she said. Therefore, in order to sell their properties, developers must not only join the herd, but cater to it, she said.
That catering includes serving up Sub-Zero and Viking appliances at the high end, Frigidaire and Amana in the midrange, according to Steve Sheinkopf , director of sales and marketing for Yale Appliance & Lighting in Dorchester. Often home sellers offer the exact same features and amenities from plasma screen televisions to central air.
Without those, Sheinkopf said home sellers would ``stand out" for what they don't have -- the last thing they want.
``Buyers understand appliances, they understand kitchen and baths. They understand the cache of stainless steel and the resale value associated with it," he said.
What's more, top-of-the-line is going down-market. What buyers found in a luxury property five years ago is what they now expect in the mid range home of today, said Judy Jenkins , president of the Builders Association of Greater Boston.
``Air conditioning, gas fireplaces, solid surface tops, stainless-steel appliances, hardwood floors, Internet access, security systems -- you see these features in new condos being built for as little as $275,000 to $300,000," said Jenkins, whose Canton-based company Can-Four is building townhouses in Whitman in this price range.
Doug McClure , owner of Re/Max Affiliates in West Roxbury, said he didn't think twice about including the standard granite countertops and stainless-steel appliances in his three-bedroom condo he developed in Roslindale. McClure said he went one step further in the market there by adding Brazilian cherry wood floors, crown moldings, and a chair rail in the dining room.
``Everyone has the granite and stainless steel, but many developers tend to leave out the architectural details that so many buyers appreciate," he said. ``So, even though it was more expensive, it was worth it to set ourselves apart in this neighborhood."
McClure also added a Jacuzzi in the master bathroom for good measure. The property is listed for $349,000 with Re/Max Affiliates.
Another trend in residential development is to use ``style" as an amenity, said Larry Wenglin , a real estate broker for Re/Max Destiny in Back Bay, who notes that many home buyers not only want their homes to be brand new, but to have some panache as well.
``A few years ago, everyone was painting everything linen white and playing it safe," he said. Now, Wenglin says, some developers are bringing in color consultants. They're not afraid to use ``Feng Shui colors" such as green and indigo blue or hang funky lighting fixtures that double as art.
``We are in constant competition, rushing to stay ahead of the next guy," said Dan Stockdale , a real estate developer and entrepreneur. ``We rush to offer bigger and better, or at the very least, the ever-changing new norm."![]()
