"Arulmozhi" wrote in message
om...

Is the lack of a large formal dining area abutting the kitchen a huge
issue?

it is for me but a lot of people don't seem to care anymore ...

How about the lack of fireplaces?

won't be a plus when you decide to sell but shouldn't be a huge minus either

How about the lack of a garage? I view this as mostly a nuisance but
one that I am ready to put up with. I think this is currently priced
into the house but does the rate of price appreciation depend on the
presence/absence of a garage?

some people won't buy a house without a garage

The fact that the house has been on the market for over a year with
progressive price reductions with no takers scares us a lot. Why is
this house not selling?

houses are normally on the market that long for one of three reasons: (a)
price, (b) big repair/structural problems or poor appearance, (c) poor
market conditions; you should be able to ascertain which factor is weighing
most heavily here

if you can live with the house and like it the only thing worth considering
is whether you are paying the appropriate price for it ... the concern is
getting rid of it when you're ready to move and any house priced properly
will sell; there will be buyers willing to make the same kinds of tradeoffs
you are thinking about, but not if you pay too much now and ask too much
later ... you need to try and get true comparable price data and you cannot
simply rely on what the mortgage appraisers say ...

in general, homes with a traditional look/plan and commonly expected
features move more quickly ... no surprise there