Connecticut mortgage quote

may I add to your well-put critique ("Vacation in Place, page, 15) in the July issue of residential architect? While looking over the appraisal for my homeowners insurance renewal, I inquired about what appeared to be a rather low value--a number that would fall far short if rebuilding our renovated, expanded rambler became necessary. The agent offered to perform a short survey, process the results, and provide the "true" value.

The process did not result in a true value, in my opinion, and the reasons may be obvious to you in the following survey questions.

The questions on area and number of bedrooms were expected. Others were curious. Did the house have a breakfast nook? No, it was a more traditional "table space" kitchen with volume and window walls facing gardens on either side of the room--but not technically a "nooked kitchen." Did the house have French doors? Not exactly. We have a modern look of flush glazed doors--and quite a few of them--but, no, not a "French-doored house." Yes, hardwood floors throughout--no, quarter-sawn oak is not an answer.

More questions followed. Does the house have a whirlpool bath? No. Is there a deck attached? Yes, but no, it's not attached. Is there a porch in front and/or back? Yes and yes, but wouldn't you like to "know more? Is there central air? Yes, but don't you care about the hydronic heat, also? Any bay windows? No, window walls are not bays or picture windows. Crown moldings? Not really. Wallpaper or paint? I guess we shouldn't have steamed those walls years ago ...

One bright spot was the question about kitchens: "Is it standard, upgrade, or custom?" I guess my custom kitchen counted, because the appraisal did increase slightly.

The system that defines our homes for mortgage banking, real estate sales, and insurance appraisals seems to follow the "hot-button" design philosophy created by advertising brochures for new houses. But builders' options are the least common denominators, offered because they add profits, the appearance of value, and the lowest likelihood of transactional error in an error-prone industry. In the end, the least common denominators are the qualifiers in this survey, the comparables that reduce houses to a quick take, elements of style not requiring "consciousness of what really makes a good house," to quote your editorial.

Who, except an architect, is literate in the qualities, the intangibles, of architectural design'? Creating value in design is our calling, and we have some educating to do. A final comment: My brother recently bought an outstanding house in a sale from an unfortunate family dissolved by divorce. For 10 years an architect had lived in and renovated the structure. Replete with fine things and thoughtful design--but unpainted walls--it sold substantially under market! Even the real estate agent did not recognize it. How not?

Allen E. Neyman

NSArchitects / a design corporation

Silver Spring, Md.

huzzah! for your July editorial. I would expand your thoughts on home size and the banking system to recognize the single greatest trend in home building today: the emerging return to more moderate-sized homes.

Driven by soaring land and construction costs, demographic trends that show 70 percent of new-home buyers are not "Morn and Dad and two kids" (the traditional family), and nudged on by such visionary architects as Sarah Susanka in her book The Not So Big House, the American public is turning toward homes that reflect their lifestyles. More practical, more modest, more sustainable, more functional, and often more fun, these homes are being created by architects with vision and innovation in their blood.

With few exceptions, banking institutions are dragging their leer as they do comparables on both custom and merchant-built homes that reflect these trends. The result is reluctance to fund innovative infill, small and clustered lot product, and full-time housing that is "outside the (safe) dots." Two sets of books aren't needed--just one, that recognizes shifting demographics, emerging lifestyles, and long term value.

By the way, some banks are offering lower rates to those buying near transit, on the theory that the money they save on automobile costs--variously estimated at upwards of $5,000 per vehicle per year--can be applied to paying the mortgage. There is hope!

William H. Kreager, FAIA

MITHUN architects" +

designers + planners

Seattle

i saw your article "Vacation in Place" in residential architect and I could not wait to e mail you. I have a textbook situation right now with a client.

I sell real estate in the Greater Danbury area of Fairfield County in Connecticut.

We have found the ideal home. However, it measures out at 1,000 square feet. It has water views and has been redone inside and out at a quality that I don't always see in million-dollar homes. But I think it is $40,000 overpriced based on what has sold in the area, even with the upgrades.

What do I do as a Realtor? I work for my client and am obligated legally and morally to get him a fair deal and I am not comfortable with the list price. (The owner won't budge.)

How long will it take for the intelligence expressed in your article to be reflected in the buying public? What does the buyer who needs "heavy leverage and favorable interest rates" do?

The irony is that my client is a good friend and a contractor and he's the one who handed me your article. He recognizes himself in the article but we feel trapped in a society that is forcing us to make a reasonable financial decision.

Thank you so much for succinctly defining our dilemma.

John Chopourian

Prudential Connecticut Realty

Ridgefield, Conn.

you are very correct in your thinking in "Vacation in Place." Being bound by convention that's aided and abetted by appraisers and banks is something the new homeowner should be freed from. It's the cookie-cutter mentality for efficient loan processing of these two industries that has a stifling effect on doing something different.

The houses of today are big for bigness' sake, a fine reason to waste resources during and after construction.

Jim Shaddox

by e-mail