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Energy Audits to be required on all homes sold after January 1, 2011

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Mortgage and Lending with Alterra Home Loans

For a while now I have been touting the greatness of the FHA 203(k) Streamline loan.  As a reminder, some of the benefits include 1) less competition for the buyer on houses that wouldn't otherwise qualify for regular FHA financing, 2) buyers can customize the house to their liking making the end result even better which means more referrals for everyone, 3) Realtor writes fewer offers because there is less competition on the homes that NEED the FHA 203(k) Streamline, and 4) The buyer is in better control of his expenses because if he takes advantage of the EEM (Energy Efficient Mortgage) in conjunction with the 203(k) Streamline, he can upgrade appliances (hot water heater, AC units, etc) that may be on the brink of failure and will cost less to run.

When a buyer utilizes the 203(k) Streamline, an energy audit is required, in addition to the home inspection.  I met with the Managing Director of Sustainable Energy Solutions here in Southern Nevada and he told me about the HER Score and showed me a copy of a report they just completed for a client.  He also told me that as of January 1, 2011, an energy audit will be required on all homes sold after that date.  I was rather impressed with everything they do to generate the data for the report and will be conducting an energy audit on my own home.  If you would like to learn more about this, feel free to contact me and I can put you in touch with him.

As for a value-added niche, I can't recommend strongly enough the advantages of the FHA 203(k) for your buyers.  They can get a home they way they want and it will be like new.  Imagine how impressed their friends will be and how those buyers will brag about you (and the lender) when they are showing off their "new" home.  I'd love to get your thoughts / comments.  Feel free to use this post in you're marketing - just give me credit.

Posted by

D. Jed Wunderli

Certified Mortgage Planner

Alterra Home Loans

702-812-1214

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