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Leasing of Solar Panels May Not be An Asset When A House is Up for Sale

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Can going green by leasing solar panels for your roof cost you money — or headaches — when you go to sell the house?

Possibly both. Say you get pitched by one of the growing number of companies offering solar panels — at no upfront cost — that they claim will save you lots of money on electricity bills. Sounds like a slam-dunk. So you sign on. Then a few years later you decide to sell the house. You assume that the presence of solar panels can only be a marketing plus, maybe even get you a higher price. Everybody goes for green, right?

But that’s when it gets weird. Some would-be buyers balk when they learn that they’ll need to qualify on credit to take over your solar lease payments for the next 15 to 17 years. Others say they like the house but won’t sign a contract unless you buy out the remaining lease payment stream — $15,000 or $20,000 or more — because they’re worried that the solar equipment will become obsolete or won’t save as much on electricity bills as advertised.

Issues such as these are popping up increasingly in California and other states and are interfering with sales and closings, according to real estate industry experts.

Be aware of the potential complexities that can occur when you lease, rather than buy, solar panels. If you opt for a lease, understand your long-term obligations, and talk to your current utility company about the savings claimed. Most important: If you’ve got a leased system and plan to sell, contact the leasing company well in advance to learn about lease transfer and buyout options. That way, you’ll be ready if prospective buyers have problems with your panels.

read more at: http://www.washingtonpost.com/realestate/why-leased-solar-panels-may-not-be-an-asset-when-a-house-is-up-for-sale/2015/03/18/41392e26-cc0b-11e4-a2a7-9517a3a70506_story.html

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One Reason San Diego Home Values Not Increasing – Stagnating Wages

Wages in San Diego County grew at the slowest annual rate among the nation’s 10 largest counties in the third quarter of last year, the U.S. Bureau of Labor Statistics reported Thursday.

From the third quarter of 2013 to the third quarter of 2014, the average weekly wage rose 0.8 percent to $1,030. San Diego’s gain over the year was less than half the rate of inflation, which increased 1.8 percent locally in the third quarter.

“That’s very slow,” said Esmael Adibi, economist at Chapman University in Orange. “This is obviously one of the biggest concerns that economists have, that if the wage growth doesn’t pick up speed, then it means people’s earning are not growing as fast and in a way that in turn is going to slow down spending growth.”

San Diego’s pace trailed the nine other largest counties, with the next-slowest county being Maricopa in Arizona, which includes Phoenix, where pay grew 1.8 percent over the year to $914 per week. This is the second consecutive quarter in which San Diego County has boasted the slowest wage gains among the top 10 regions.

read more at: http://www.utsandiego.com/news/2015/mar/19/bls-wages-jobs-pay-salary-economy-hiring/

Disclaimer: for information and entertainment purposes only

San Diego – Water Wise Ideas Demonstration Garden at the Flower Fields

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For a second year, San Diego’s Master Gardeners have partnered with The Flower Fields in Carlsbad to create a demonstration garden that showcases water-wise plants from Mediterranean climate zones.

The 1,200-square-foot garden at The Flower Fields includes plants from the Mediterranean Sea Basin, South Africa, California and Australia. The exhibits also show garden design trends and effective gardening methods endorsed by the Master Gardener program. The garden is planted, managed and staffed by Master Gardener volunteers.

Other exhibits include a Grass Mosaic Garden with a variety of low-water grasses; succulents woven into a vibrant living tapestry; a culinary herb garden with herbs from all the Mediterranean climate zones; and a California native garden.

The demonstration garden will be open from 9 a.m. to 6 p.m. daily until May 10 at 5704 Paseo Del Norte, Carlsbad. It’s included with your Flower Fields ticket, which is $12 for adults, $11 for seniors and $6 for children 3-10 (children under age 3 are admitted free.

theflowerfields.com