Consumer demand in real estate continues to trend eco-friendly, according to a new report from the National Association of Realtors
Nearly 60 percent of agents surveyed said that their clients were very or somewhat interested in sustainability. Seven in 10 residential and commercial agents and brokers reported that promoting energy efficiency in listings is either somewhat or very valuable.
A new Zillow analysis shows homes with solar-energy systems sold for 4.1 percent more on average than others nationwide in the past year. The sale premium varies by market — 5.4 percent in New York, 4.4 percent in San Francisco and 3.6 percent in Los Angeles, for example.
“Energy conservation isn’t only good for the environment, it can also translate into big savings on electricity bills as well as help to reduce the strain on the electrical grid,” said Zillow senior economist Sarah Mikhitarian. “Homes with solar-energy systems often sell for more than comparable homes without solar power. This premium is largely reflective of the future energy cost savings associated with the system.”
So true Diane! I just sold a Pearl Gold Certified home yesterday and it did appraise at full contract price. Following the guidelines in order to get value for these homes is a requirement for this to happen. Thanks to educating appraisers, Sandy Adomatis has been our hero in helping these homes gain value!
This week I'm hoping (2nd showing) that my LEED Platinum listing goes under contract to a set of buyers who also appreciate the extra care and work involved in LEED Certified homes. It takes the right agent to understand the homes' features so that the public is aware of the benefits included! After all, when a home has spray foam in the walls and ceiling, no one would know unless that feature was shared!
Informed marketing is an early key in selling anything more than a basic energy efficiency package. Increasingly, real estate agents/brokers are becoming educated and, hopefully, the local multiple listing service and appraisers recognize the value issues and allow sales value increases that lenders will accept and underwrite. Statement of the obvious - All that just to say this transaction is so much more than just a dialog between agent and buyer.
I totally agree with all the points as it is true that one can go for a home which reduce their energy bill.
You are very correct! Everybody demands a good environment and a sustainable home and for that I had to remodel the main parts of my home like kitchen and bathroom. I also expanded the rooms and made a gallery space and added greenery to that. Now, that the project is done by the San Jose Adu, I am thinking of spending more time here and then quote my home by the contractors