Green Home Market in Mercer County NJ

By
Real Estate Agent with RE/MAX Tri County

While you read a lot about building green, and retrofitting your home to be greener, the industry still is fairly fragmented. A recent article in RISMedia explains, "Availability of loans, interest rates, tax credits, home affordability, and general economic conditions all influence housing trends. However, the primary factor affecting growth of green homes in any given area depends on where local government, designers, builders, and consumers are in their green education, adoption, and implementation. These groups all influence each other with some being more advanced in their green education than others.

"Additionally, a secondary factor influencing the depth of an area's green home stock is timing. The green wave was rapidly growing prior to the economic collapse and has since slowed along with general new construction. While green education may have arrived in some areas, implementing a green strategy may be on hold because of local economic conditions. It takes organizations such as the U.S. Green Building Council (USGBC) and other similar organizations to help educate these groups on the benefits of green homes.

"Once home construction rebounds you will find a significant increase in certified green homes or those with green features. This increase will come as more local governments incentivize green homes or, in some cases, mandate them.

"In terms of the existing home market, there is proposed federal legislation called HOME STAR, also known as ‘Cash for Caulkers' that will incentivize homeowners to make their homes more efficient and durable. This $6 billion program would stimulate construction jobs and provide direct rebates to homeowners who invest in qualifying home energy improvements. Rebate amounts can be deducted from overall job costs and paid directly to the contractor or product retailer after the retrofit work has been completed (for more information visit www.efficiencyfirst.org). If this legislation passes, homeowners are certain to take advantage and when they go to sell they'll want to work with someone who knows how to market their home's green features.

"Even if you do not have an abundance of green homes in your community now, you may see an increase soon as green building awareness rises and as more builders make sustainable features and green certifications standard."

Contact me to find out which builders in Mercer County and surrounding areas are committed to green practices.

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