That's fine -- if you live in Canada. The clustering of housing is not prevalent down here. In fact, they want more land and are willing to drive over an hour to work to have it. Now, there is a difference in buyer wants and needs. Young families generally like the master upstairs, while boomers and older families (read that ones that have had the master upstairs) want the master downstairs. There is not a market price differential yet due to the continued growth and availability of homes. However, many builders are building homes with master bedrooms downstairs on a 10/1 or higher basis.
In 1996 when one of my genetically defective knees decided to eat on me, I went thru therapy. I know that I must have appraised 75% of the 2 sty. homes in my area during that time. I still do not like upper levels. Climbing up is not too bad, but I have to turn sideways and crab down, especially in those old homes with steep (& dangerous) stairs.
The news tonight noted that Fannie Mae is raising the limit of conventional dwelling loan to well over 300K, from 300K, and Jumbo loans are only a quarter point higher. Troubling was an interview with an architect who had refinanced and got cheaper rates AND took out $50,000 cash. He claimed he used the cash to shore up his flagging business and investments....duh...was that a real bright idea? It does not change your net worth does it? Perhaps your house is your safest investment. How many more like him will have no equity?
Story from the Jal Forest. One of my subs was asked by another appraiser to run some numbers on the NADA software for Manf. Homes. Came up 56,000.....way low said the appraiser. I'm going by what you give me, replied the help... What are you needing? Well, I appraised it 2 years ago for $124,000...on 2 acres. [ie- they expect it to be higher than then] No, the bubble did not burst in 2002 because most people are still employed, and the stock market is the pits to invest in, so we put our money somewhere. This housing mkt. is unsustainable unless the economy can make a rapid turn around, and the pundits who were negative two years ago [as opposed to the ones who were really wrong] are predicting a long slow recovery and housing usually goes down after the bottom, not during it. Bad appraising & inflated appraisals are only going to make things worse. There seems to be an appraiser out there somewhere that will always make the deal work. I was told by a Realtor who has a listing being sold by another agent that the other agent had delayed the closing because he wants to find the highest appraisal he can.