Items homebuyers desire in 2011

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Editor’s note: This is a transcript of the audio file.

It’s a buyers’ market right now when it comes to homes and buyers want it all.

I’m Sheyna Steiner with the personal finance minute.

Negotiating is a blood sport in today’s market. Buyers want lower prices that will compete with the glut of foreclosures and short-sales and they want more incentives as well.

Buyers may want low prices but in general they are not looking for fixer uppers. Instead experts say that people are looking for well-maintained homes with modern touches such as an open floor plan.

Another major selling point are outdoor living spaces. If a house already has that, it’s going to make it more competitive on the market.

Also on buyers’ shopping lists are energy efficient perks. For instance, triple-glazed windows, high efficiency boilers and energy efficient appliances. And they’re paying attention to touches that increase or decrease sun exposure depending on the area of the country.

More than anything people are being realistic with the homes they buy. The houses are smaller with fewer rooms and more cozy spaces.

For more on this and other personal finance issues, visit I’m Sheyna Steiner.