Tag Archives: energy efficiency

how energy-efficient upgrades can increase your home’s value

Posted on December 7, 2016 | Leave a comment

Energy-efficient upgrades can not only shrink your utility bill; they can increase the value of your home.

Have questions about ee upgrades on your home? In SoCal contact the appraisers at www.scappraisals.com.

Homebuyers are becoming increasingly aware of the benefits of energy-efficient homes. In fact, they’re often willing to pay more for homes with “green” upgrades, says Sandra Adomatis, a specialist in green valuation with Adomatis Appraisal Service in Punta Gorda, Fla.

Just how much your home will increase in value depends on a number of factors, Adomatis says, like where you live, which upgrades you’ve made and how your home is marketed at sale time. The length of time to recoup the costs of green upgrades also depends on the energy costs in your area.

In 2014, upgraded homes in Los Angeles County saw a 6 percent increase in value, according to a study from Build It Green, a nonprofit based in Oakland, Calif., that works with home professionals. Upgraded homes in Washington, D.C., saw a 2 percent to 5 percent increase in 2015, according to a study Adomatis authored.

disclaimer: for information and entertainment purposes only

Home Buyers are Willing to Pay extra for Smart Homes

Posted on August 31, 2016 | Leave a comment

smart home

Disclaimer: For information and entertainment purposes only. The data nor the study has been verified. It is unknown what criteria was used to determine if “smart home.”

Could “smart home” technology — features such as network-connected thermostats, security devices, appliances and lighting — help you sell your home faster and for more?

Probably so, according to recent consumer polling data plus anecdotal reports from appraisers and realty agents. The key, though, is that the smart products need to be installed before you list your house, because most buyers in 2016 don’t want to have to install them on their own. They want things pretty much turnkey.

The latest in an ongoing series of research projects by Coldwell Banker Real Estate found that 71 percent of buyers out of a sample of 1,250 American adults want a “move-in ready” house and that 57 percent of those buyers looking at older houses would consider them updated, and more appealing as move-in ready, if they have smart home features already in place.

Green Home Could Result in a Larger Loan

Posted on August 14, 2013 | Leave a comment

Those solar panels or radiant-heated stone floors could help snag a larger home loan under legislation now pending in the U.S. Senate.

The SAVE Act would require Fannie Mae, Freddie Mac and the Federal Housing Administration about 90 percent of the mortgage market to add energy efficiency to their underwriting policies.

Mortgage lenders and appraisers do not systematically consider the value of a home’s energy-efficient technology, said Robert Sahadi, director of energy efficiency finance policy at the Institute for Market Transformation, a nonprofit Washington D.C. group promoting green building. The organization co-authored the bill.

Have a green home or an energy-efficient home but did not get credit for it on the appraisal? Contact the appraisers at www.scappraisals.com; we specialize in green and energy efficient properties.

“There have been some attempts in the past to do something about it, but they were premature, like 10 years ago, before consumers were really demanding these kinds of homes,” he said.

Sen. Michael Bennet, D-Colo., and Sen. Johnny Isakson, R-Ga., filed the bill in June. The bipartisan SAVE Act legislation has dozens of co-sponsors, and support from a broad variety of groups, including real estate agents, consumer organizations and environmental advocates. SAVE stands for Sensible Accounting to Value Energy.

While utility bills are ignored in mortgage underwriting, they usually amount to more money than real estate taxes or homeowner’s insurance, the institute says.

The typical U.S. homeowner pays $2,500 on home energy bills annually, according to the institute. The organization estimates an energy efficient upgrade, even a small one, could reduce a home’s energy bills by 30 percent or more.

The bill would help borrowers in two ways. Lenders would factor in energy cost savings when arriving at a borrower’s debt-to-income ratio, which could result in a larger loan. Lenders would add future energy savings to the home’s value, if that is not already reflected in the appraisal.

Disclaimer: for information and entertainment purposes only.

Tag Archives: energy efficiency

how energy-efficient upgrades can increase your home’s value

Home Buyers are Willing to Pay extra for Smart Homes

Green Home Could Result in a Larger Loan

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