Green Real Estate Appraiser

Green & Gorgeous Homes: Can they Command a Premium?

Posted on September 25, 2013 | Leave a comment

It’s not easy being green — if you’re a house for sale.

Sure, everyone loves energy efficient upgrades — in theory.

But when it comes time to fork over green paper with pictures of dead presidents, many buyers won’t pay a premium for eco features, no matter how sexy and how beneficial for the planet. That could soon start to change as some new national programs create incentives and infrastructure for energy upgrades in for-sale homes.

One problem the green industry faces is not enough appraisers are qualified to appraise green, LEED or energy-efficiency properties. Contact the appraisers at www.scappraisals.com, they are the forerunners in green property appraisals.

Some forward-thinking developers have taken green to the max in rehabbing high-end SF houses. Here are two luxury renovations that received LEED Platinum certification — among only a handful of SF houses to snare the coveted designation.

First up, a six-bedroom Queen Anne at 235 Broderick on the border of Haight Ashbury and the Panhandle. Its owners* spent $2 million and a lot of time and energy redoing it to be ultra-environmental.

“Every single thing in that house is salvaged locally, sustainably forested or a combination,” said listing agent Amanda Jones of Sotheby’s International Realty. “Getting LEED certified requires a lot of attention to water consumption, energy use and air circulation.”

The three-story house was gutted, given a new steel frame, new foundation and lots of extras. In addition, the house is “wired to the hilt,” Jones said, with an impressive media room.

It looks spectacular in the photos — but hasn’t found someone willing to pony up extra to be that green, although lots of successful tech execs and even some Hollywood types have toured it.

The house hit the market almost five months ago at just over $4 million and this month dropped the price by $600,000 to $3.495 million.

Now, the owners, who are moving back to Australia, are contemplating renting it, at a cool $17,000 a month.

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San Diego: WaterSmart Garden Classes

Posted on September 24, 2013 | Leave a comment

Agave, kangaroo paw and drought-tolerant grasses add color and softness to this garden. U-T file photo

San Diego area residents can learn how to save water and grow drought-resistant gardens through a series of workshops offered by the San Diego County Water Authority.

The WaterSmart landscaping workshops, offered on Saturdays at various sites in San Diego and North County, teach participants how to employ urban conservation in their own backyards.

Does drought resistant landscaping add value to your home? Contact the appraisers at www.scappraisals.com for your home value and real estate appraisal questions.

Each three-hour class covers key concepts for water-efficient landscaping.

Participants learn to take a watershed approach to their yards by replacing turf with drought-resistant native and Mediterranean plants, according to the water authority.

They will learn how to capture rainfall through a living soil sponge rich with microorganisms that benefit plants. And they’ll evaluate their yard’s “microclimates,” noting soil conditions and identifying areas that are hot and dry, cool and shady, or windy.

Participants will learn how to select the right plants for each space, and how to group them for maximum benefit. And they’ll how to capture rainfall and how to efficiently use irrigation to minimize waste.

Class handouts will include: six elements of a California-friendly landscape, California-friendly landscape class resources, a sprinkler to drip retrofit guide, rain gardens and healthy soil, a sprinkler to rotary nozzles guide, and planning your project.

The classes will take place in San Diego, Escondido, Oceanside, Vista, at the Helix Water District and at the Olivenhain and San Dieguito Municipal Water Districts.

For a class schedule and registration information, call 619.533.7548 or visit www.watersmartsd.org

Doing Math On Homebuying – Is it a good time to stop renting and buy?

Posted on September 23, 2013 | Leave a comment

San Diego County Rental Stats

Sep-12 Sep-13 % change

Average monthly rental rate $1,377 -$1,475 7.1%

Average square footage 870- 873 0.3%

Average price per $1.58 – $1.69 7.0%

Vacancy rate 4.50%- 4.61% 2.4%

Source: MarketPointe Realty Advisors

Pros of renting:

• Greater mobility. Selling or buying a home has transaction cost and can take time.

• You can call the landlord for repairs

• There’s no resale risk. While home prices have been rising in San Diego County, there’s no guarantee that the value will increase over time.

Cons of renting:

• The landlord can kick you out if, for example, he or she decides to sell the place

• No equity is built up: “Renting is throwing money away,” said Linda Lee, president of San Diego Association of Realtors.

• You can’t paint or remodel without the owner’s permission

Rates near historic lows

The monthly average 30-year, fixed mortgage rate rose nearly one percentage point from May to August to 4.46 percent, according to Freddie Mac, the government-controlled mortgage buyer. However, mortgage rates are still near historic lows. Throughout the 1980s, for example, they ranged from 9 percent to 18 percent.

For the San Diego metro area, mortgage rates would have to climb to 7.3 percent for renting to be cheaper than buying, according to a Trulia report released Thursday. Trulia calls this the mortgage-rate tipping point. The last time 30-year fixed mortgage rates were that high was about 12 years ago, according to Freddie Mac.

By comparison, the mortgage rate tipping point is 7 percent for Orange County, 5.7 percent for the San Francisco metro area and 5.2 percent for the San Jose metro area.

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