"Green" Homes
August 29, 2011
An piece written by Kenneth R. Harney in the Los Angeles Times on Sunday, August 28 was entitled "Do green homes sell better?" As a real estate agent, I was quick to read what Mr. Harney had to say. I have been noticing more and more homes with solar panels mounted on the roof which has led me to believe that homeowners are investing in solar electricity. Yes, this major investment says on utility costs, but does it also add market value to a home?
The data is still very limited, but it did seem to indicate that "green" amenities and certification in new construction does add some additional value.
According to Mr Harney's article, researchers examined a sampling of home sales in the $500,000 range in the San Diego and Sacramento markets. They found that , on average, solar panel installation did add an increase in appraised value.
There are still some issues as lenders approach "green" sales. One is the qualification of the borrower process and give credit for less utility expense. The second is bringing appraisers up to speed in recognizing the added value of solar panel electricity.
Slowly the real estate market place is learning to appreciate "green" houses.
An piece written by Kenneth R. Harney in the Los Angeles Times on Sunday, August 28 was entitled "Do green homes sell better?" As a real estate agent, I was quick to read what Mr. Harney had to say. I have been noticing more and more homes with solar panels mounted on the roof which has led me to believe that homeowners are investing in solar electricity. Yes, this major investment says on utility costs, but does it also add market value to a home?
The data is still very limited, but it did seem to indicate that "green" amenities and certification in new construction does add some additional value.
According to Mr Harney's article, researchers examined a sampling of home sales in the $500,000 range in the San Diego and Sacramento markets. They found that , on average, solar panel installation did add an increase in appraised value.
There are still some issues as lenders approach "green" sales. One is the qualification of the borrower process and give credit for less utility expense. The second is bringing appraisers up to speed in recognizing the added value of solar panel electricity.
Slowly the real estate market place is learning to appreciate "green" houses.
posted by shirley harry at 8:57 AM
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