Rising building costs
Dear Agents
Rising building costs are a factor in the increase in home
prices due to the demand in markets besides the United States,
such as China. By implanting green building techniques such as
using locally obtained building materials and other renewable
resources, capital costs can possible be decreased and home
prices do not increase.
As real estate professionals it is our ethical duty to
encourage the building and marketing of ‘green homes’.
Recently, the Portland, Oregon Regional Multiple Listing
Service added the ability to search for homes based on green
certifications and specific aspects the home has that make it
green, such as the features discussed above.
Everyone in the real estate industry needs to work together to
promote green building. Appraisers can note the value in the
home based on the full-life circle of the home and the savings
in monthly energy and maintenance costs. If lenders begin
considering not only PITI (principle, interest, taxes, and
insurance) as monthly costs of home ownership but also EM
(energy and maintenance costs), buyers may be able to afford
more home based on their monthly savings.
Regards
Real Estate Agents