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REAL ESTATE
From the RealEstateJournal Archives

Split-Levels Present a Savings
For Buyers Who Prefer Them

by Sheree R. Curry
From The Wall Street Journal Online
March 07, 2008

Split-level homes are a great deal right now because buyers have little competition. Only 9 percent of Americans prefer this style to others, a recent National Association of Home Builders survey found. -- Sheree R. Curry

[PJ_Illinois.jpg] Place/Price: Zion, Ill. / $202,000

Taxes: $6,000 / year

Property: 4 bedrooms, 3 1/2 baths, 1,787 square feet

Description: This fenced quad-level split home has two master suites. The lower-level has a family room, two bedrooms, and a loft that could be used as fifth bedroom or an office.

Notable: In 1979, 11 percent of new homes were split-level; in 1989 4 percent were; in 1999 it was only one. Today it's less than one percent, according to NAHB data. This home was built in 2007.

[PJ_Minnesota.jpg] Place/Price: Maple Grove, Minn. / $349,000

Taxes: $3,489

Property: 4 bedrooms, 2 baths, 2,205 square feet

Description: The lower level has new carpet, a gas fireplace, the fourth bedroom and a large bathroom with a glass block shower. Main floor has hardwood floors. The roof is new.

Notable: In 1980, 20 percent of homebuyers preferred split-level entry homes. In 1995 that number dropped to 11 percent, but went up to 14 percent in 2004, according to the NAHB. This home was built in 1994.

[PJ_Georgia.jpg]

Place/Price: $610,000 / Decatur, Ga

Taxes: $10,000

Property: 4 bedrooms, 3 1/2 baths, 2,800 square feet

Description: This all-brick, split-level town home has hardwood floors and a 10-foot ceiling on the main level. There is a gas log fireplace, and built-in bookcases. The kitchen has granite countertops.

Notable: Split-levels are most popular among African American homebuyers; 21 percent of them prefer them to other styles, whereas 9 percent of Asians do, 8 percent of Hispanics and 7 percent of Caucasians, according to the NAHB.

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