Over Improvements

Calculated Risk has a great post about over improvements on homes. It discusses the over-inflated prices flippers were getting for upgrades during the boom. How much added value will a buyer pay for granite counter-tops and stainless steel appliances? Especially during a downturn. Also if you have to put real money - actual savings - are these upgrades going to have the same value? When the house is 100% financed from the bank it is much easier to want or demand all these upgrades. However when you have to put in your own real money the bells and whistles of these over-improvements are not as important.