Archive for December, 2009

Green Homes Hot Despite Housing Slump

I just pulled this gem of an article from USA Today and it’s reporting that Energy Star Certified Homes made up 17% of the market in 2008.   Despite a 30% reduction in new home starts last year all of the independent certifiers of green homes reported growth last year.

I think this is important to note as an agent, buyer, or seller because the question is whether or not in a few short years, will a program like Energy Star becomes the industry standard?  I worked with our local MLS in getting these certifications added in our searchable features in 2008 and have since consulted nationally with other MLS’s looking to add these features as well.  This will enable Realtors and Appraisers to pull statistics of average days on market and price per square foot which we anticipate will be a premium for certified homes.    Beyond the environmental benefits,  these green certifications are worthy of your consideration both if you are in the market to purchase or considering improvements as they may prove to be a real benefit for resale.

Here are some basic stats for Middle TN so far.  We have 235 active green certified listings starting in the 130’s, we have 132 currently pending (meaning there are no financing or inspection contingencies), and 536 sold this year.

Cash For Clunkers moves to your HVAC

I blogged in the fall that through federal stimulus money there was going to be some rebate money available for upgrading your appliances to Energy Star.  Each state had to submit their plan by October so obviously the amount and what’s included will vary by state.  Just saw this announcement in the Business Journal about it only applying to AC and heating units in the state of TN.

This one is a mixxed bag for me.  $250 rebate on a several thousand dollar unit is not very exciting really but it’s something and it can be stacked with the 30% federal tax credit.  I need to go with my green mantra of “every little bit helps.”  I do not see where it applies to anything like refrigerators or hot water heaters, which behind heating and cooling, round out the top spots of energy consumption in your home.

If you are expecting to have to replace your unit in 2010, I would suggest holding off until April because the rebate is not retroactive.  You should also bear in mine that 2010 is the year that in compliance with the Clean Air Act, chemical companies will have to stop manufacturing Freon for new HVAC units.  These newer units will be using something called Puron (there is a more official technical name for it).  Freon will only be manufactured for existing units until 2020 and then the chemical companies will only be able recycle existing Freon for maintenance of existing units.  To that end,  it might be worth a look at the EPA’s phase out plan for ozone depleting refrigerants. While these newer units may be more costly up front (not sure if they are or aren’t I haven’t priced them yet),  you may not get the full life of your unit or you could get hit with higher maintenance costs as freon becomes more scarce down the road, leaving your life-cycle costs much higher.

What does a Walk Score Mean?

More and more as I work with out of state buyers, I field questions about the availability of sidewalks,  public transportation or bike lanes in Nashville’s neighborhoods and I’m on the prowl for how to give quality information that is more than anecdotal.  It’s no secret that Nashville’s focus up until the last 10 years or so, has been sprawl but certainly with the reassurance of 12South, Hillsboro/Belmont, East Nashville, and Germantown there seems to be a generation of buyer who is interested in navigating Nashville with no or limited access to a vehicle.

I have finally landed on a very cool website that utilizes google maps to plot out near by businesses, libraries, bus stops, and restaurants, and shopping for any address.  It then assigns an index score from 1-100 as to how realistic it is for you to navigate your neighborhood without hitting the roadway and this is called your walk score.

Walkability is an integral component of New Urban design principles and with focus on saving energy, building healthy safe environments outdoors, and allowing residents to feel connected to their neighbors and community.  Factors influencing walkability include the presence or absence and quality of sidewalks or other pedestrian right-of-ways, traffic and road conditions, land use patterns, building accessibility, and safety, among others and these too are a consideration for a home’s walk score.

There is a fine line for Realtors in promoting a listing or a community in a way that isolates any of the protected classes under Fair Housing Law.  However,  if purchasing in a neighborhood that will allow you some freedom to move about without a car is a priority, then this is a wonderful tool to help you evaluate some of the neighborhoods you may be considering.