The nature of my telephone inquiries (buyer calls on my listings) has changed.   Perhaps due to lender’s requiring larger down payments, many buyers are cash poor once they scrape together their down payment.  Callers now routinely ask if the electrical and plumbing have been updated BEFORE viewing the home. It appears that many potential buyers would love to buy, but that they are nervous about repairs and upgrades that will need to be made sooner rather than later.  Apparently these are the more conservative buyers, the ones that didn’t get the "0" down financing or the low teaser rates. 

This tool provides a list of the estimated costs to upgrade or replace the major systems and components in a typical home. It also provides a general guideline for the life-expectancies of those systems.

A new study sponsored by Bank of America and conducted by NAHB provides general guideline information on how many years of service a home owner can reasonably expect from the various components of a home.

In any event, we do have a listing on a quiet street in Northwest Glendale ($615,000) - Immaculate condition, great back yard with spa & waterfall frountain.