Tag Archives: LEED home

Green & Gorgeous Homes: Can they Command a Premium?

leed

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.

Read more at: http://blog.sfgate.com/ontheblock/2013/09/21/green-gorgeous-homes-can-they-command-a-premium/

Disclaimer: for information and entertainment purposes only

Homes in Varying Shades of Green

As conscious as consumers have become in recent years of the merits of sustainable housing and the drawbacks of having a large carbon footprint, the fact remains that in all of Westchester County today, there are only two LEED-certified residential projects: a two-family market-rate condominium in Hastings-on-Hudson and a 22-unit affordable assisted-living complex in Yonkers.

Will “greening” your home add value?  Contact the appraisers at www.scappraisals.com with your value questions.

By comparison, according to the United States Green Building Council in Washington, which created the certification process and coined the terminology (LEED is an acronym for Leadership in Energy and Environmental Design) the village of Cold Spring, in Putnam County to the north of Westchester, has more than 100 LEED-certified units, among them single- and multifamily, market-rate and income-restricted.

Overall state and national numbers remain modest. There are 1,262 certified LEED for Homes units in New York State; 1,658 in New Jersey; 3,043 in California; and a total of 20,000 in the United States, according to the nonprofit council that administers the LEED for Homes program.

read more at; http://www.nytimes.com/2012/07/15/realestate/westchester-in-the-region-lagging-in-leed-homes.html?_r=1&ref=realestate

Property Spotlight – LEED Plantinum Homes in Martha’s Vineyard

What is a LEED certified home? Read: https://greenrealestateappraiser.wordpress.com/2011/08/16/what-is-a-leed-certified-home/

The eight homes are split between a 1,250-square-foot two-bedroom model and a 1,450-square-foot three-bedroom model, which is identical to the smaller house except for the addition of an extension for the additional bedroom. They each have a 5 kW photovoltaic array on their south-facing roofs—enough power to make the all-electric homes net energy generators on an annual basis, if the residents are exceptionally frugal.

Now how would an appraiser value these LEED homes if there are no comparables.  Appraisers have different methods when valuing properties and the sales comparison approach is just one method.  The article reports that cost was $200/SF not including land acquisition, site work and the PVs.  The cost approach may be utilized depending on the scope of work requested by the client.  Again these are two methods but there are additional ways to value properties.  Contact the appraisers at www.socalappraisalserv.com for your “green” value issues.

For more information on these LEED homes: http://greensource.construction.com/green_building_projects/2011/1109_small_but_significant.asp

Disclaimer: For Information and Entertainment Purposes Only.