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Posted over 15 years ago

Green Homes and Sales Trends

Green is the New Black

The housing industry hasnt developed a reliable way of breaking down green versus conventional homes sales figures. But its clearly a hot button issue and will even become more important, perhaps mandatory, as we begin to seriously deal with global warming.

What Others are Saying....

Developers Those builders are seeing that they'll get more buyers coming to their developments when they have solar. They sell like hot cakes, Bernadette del Chiaro, an energy specialist at the advocacy group Environment California, told the Los Angeles Times. The Times also quoted Julie Blumden, a vice president at San Jose-based solar tile maker SunPower Corp., as pointing out that the increase in sales velocity is actually paying for the solar systems. (LA Times via the Daily Gre

NAR

According to a recent NAR survey, 90 percent of recent home buyers thought energy efficiency was a very important consideration when searching for a home, and the demand for green buildings and environmentally sensitive home features is growing.

Ris Media

Way back in 2007, Ris Media reported that the market for true green homes is expected to rise from $2 billion to up to $20 billion over the next five years. Green homeowners are happy with their homes because they are concerned about the health of their families, as well as energy savings and operating costs. Homeowners are buying green homes

National Association of Home Builders.

According to the National Association of Home Builders, the green homes market is expected to increase to 10 percent by 2010. The NAHB hits a new milestone this month, it just green certified its 500th home builder project.

Green Tools You Can Use

Appraisal

Congress may require all appraisers to consider energy efficient improvements in appraisals. Appraisal standards would be uniformly revised to include all energy efficient improvements, typically including double paned windows, extra insulation and solar hot water heaters.

EEM Mortgages

Buy more house. Fannie Mae, Freddie Mac, FHA, and VA all permit borrowers to qualify for larger mortgages using projected energy savings. Every home with retrofitted energy-efficient (EPA approved energy star rated) features is eligible.Green mortgage products may also include low down payments effectively increasing buying power. Generally lenders require a professional auditor to certify the energy efficient improvements before you can qualify for mortgage breaks.

Get Audited

A seller with a good energy audit is a plus. Sellers can call their local utility company for an energy audit. The audit includes the furnace, the water heater, and major appliances, windows, insulation and the heat seal in general. There is a small cost of about $100, but good results are a good marketing tool. A poor audit can be also be a good support tool for the selling agent. An independent third party recommendation to upgrade can be a powerful argument towards convincing sellers to invest in sale process. More on cost savings of green homes and how they boost equity

Thanks for Reading

www.yourpropertypath.com

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