We love awards issues at CUSTOM HOME. They serve a number of important purposes for our editorial staff. They help us discover new talent and update us on new work by old friends. Runners-up are usually so good, we’ll use them in subsequent issues throughout the year. But first and foremost our awards program helps us recognize the best designed and crafted custom work going on across the country. This task is even more important in our tough economic conditions. Anything that boosts the profile of residential pros is precious right now.
The new custom home market is nearly frozen because even clients who have money to spend are leery of doing so given the uncertainty of current home values. But it’s almost a travesty to link the valuation of true custom homes to the overall housing market. Frankly, it always has been. They are so much more than comps of location, bedrooms and baths, and lot size. They are more than “upgraded” counters, cabinets, and roofing. Do appraisers evaluate the quality of natural light, of interior and exterior views? The people who own custom homes designed and built just for them already understand they are works of art and craft that bring enduring delight. The appraisal problem, which has been around for a long time, is worse than ever. Skittish or inexperienced appraisers are coming in woefully low on houses that have no equal on the market. Oddly enough, they’re starting to appreciate the value of green or energy-saving features, but custom character and unique details still stymie them. Just because one family loves them, what ensures another will if the house has to sell?
I think that fear is overstated. In Washington, D.C., I keep a close eye on houses for sale and have done so for almost a decade. I’ve seen very few that match what I’ve seen in the pages of this magazine—at any price. Yet I know they’re out there. My conclusion? Their owners just don’t sell them—at least, not very often. And when they do, they’re gone in a heartbeat.
I hope awards programs like this one help buoy the perception and ultimate appraisals of custom homes. And because we’d like to encourage reticent clients to go ahead with their dream homes, next year we’ll add a new category for work on the boards. In the meantime, we’ll admire our current collection of built design award winners, knowing their lucky owners are already living the dream.
Email: cconroy@hanleywood.com
