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Why do most lenders not recognize "Green" price adjustments on Energy Efficient / Green Homes by Appraisers ?

Reblogger Isaac E. Chavez
Services for Real Estate Pros with Vermont REALTORS

Original content by Edward D. Nikles PA Broker-RM060117A

Some Lenders pretend to offer "Energy Efficient" Mortgages with expanded ratios for Energy Star & Green Homes ! However , these same lenders will not recognize the "Green" adjustments made by Appraisers vs. non-green & non-energy star homes ! It costs more to build Energy Star & Green ! The benefits are documented by HERS Raters & Green Verifiers and utility cost savings can be calculated by computer programs ! Yet another Green Paradox - we want you to build Green , but it just won't Appraise ! Wake up people ! There are very few Energy Star & Green comparables sold as Resales ! If we can't appraise the ones we build , then how are we supposed to build more ? Is Green only for the wealthy or high downpayment clients ? I hope not ! I'm looking for ideas - What do you think ? Keepin' it Green !

Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

This issue is really important and I'm not sure how you could go about bringing great attention to this kind of disparity. I'm working with some investors and rehabbers right now in a very depressed area outside Philadelphia and our goal is to bring "green" to these houses so that Section 8 housing could benefit from lower operating costs. Let me know how I can help here in PA.   Great post Isaac

Mar 02, 2009 10:02 PM
Bill Lumpp
Century 21 The Combs Company - Rocky Mount, NC
Realtor, GREEN

We have a builder that is building all of his homes in one area with green features. He is selling faster than any other builder in the area! Most are being financed!

Aug 23, 2009 03:39 AM