Going Green May Help Sell Your House Faster

A new report from Zillow finds that updating your home with eco-friendly or eco-resistant features may help sellers get a better price for their house on the market as well as sell it up to 10 days faster. 

At the top of the list are electric vehicle charging stations (9.5 days faster), double pane windows (6.9 days faster), and seismic-resistant features (19 days faster) that all help sell a home faster than homes without. Also on the list are tankless water heaters (2 days faster), drought-resistant landscaping (9.2 days faster), and smart sprinkler systems (4.9 days faster). 

At the top of the list are electric vehicle charging stations (9.5 days faster), double pane windows (6.9 days faster), and seismic-resistant features (19 days faster) that all help sell a home faster than homes without. Also on the list are tankless water heaters (2 days faster), drought-resistant landscaping (9.2 days faster), and smart sprinkler systems (4.9 days faster). 

According to Zillow, their research found that buyers are also seriously considering the possibility of flooding (55%), tornadoes (41%), hurricanes (35%), and earthquakes (29%) when choosing a home. The increasing frequencies at which these events, along with other natural disasters, are occurring means buyers are paying a premium on homes that have these features to protect themselves and their investment. 

read more at: https://themreport.com/daily-dose/04-18-2022/going-green

Video – Buying a home this spring? Be aware of these 5 unexpected costs

watch video at: https://www.cnbc.com/2022/03/30/unexpected-costs-when-buying-your-first-home-this-spring.html

April 1 – Fannie Mae will require appraisers to use the SF Method guidelines per ANSI (American National Standard Institute)

Appraisers will be required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®)
Measuring Standard for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals
requiring interior and exterior inspections with effective dates of April 1, 2022 or later on loans sold to Fannie Mae

Here are some items for appraisers to consider when using the
ANSI standard1:
• Measurements are taken to the nearest inch or tenth of a foot, and
the final square footage is reported to the nearest whole square foot.
• Staircases are included in the GLA of the floor from which they descend.
• Basement is any space that is partially or completely below grade.
• The GLA calculation does not include openings to the floor below,
e.g., two-story foyers.
• Finished areas must have a ceiling height of at least 7’. In a room
with a sloping ceiling, at least 50% of the finished square footage
of the room must have a ceiling height of at least 7’ and no portion
of the finished area that has a ceiling height of less than 5’ can be
included in the GLA.
• If a house has a finished area that does not have a ceiling height
of 7’ for 50% of the finished area, e.g., some cape cods, in
conformance with the ANSI Standard, the appraiser may put this
area on a separate line in the Sales Comparison Grid with the
appropriate market adjustment. The report will be ANSI-compliant
and also acknowledge the contributing value of the non-GLA
square footage.

read more at: https://singlefamily.fanniemae.com/media/30266/display