Green real estate is a growing trend, and while the global economy has its challenges, Green Real Estate Education is making a difference for those in the industry to lead the effort for consumers to reconsider priorities.
What better time to think of value in residential real estate than in the present? Most are still wondering if the projections of a turnaround in the current marketplace are just fiction or truthful. Five steps forward and two back, then three forward and three back.
So what is really going to drive value for the buyer to buy again? What does a buyer consider in today's economic climate for the decision to buy a home? Do they think of a home for their family in terms of how their parents looked at the purchase? Do they still think a home is the American Dream, where investment returns will be offered in the 6%-8% in annual growth patterns as in the past?
The current climate offers a new sales technique for mortgage and real estate companies in moving property. The "short sale" market is of value to the investor, but counter productive for future community values. So, if you want to sell a home in this market, what are your options? The appraiser will always look at recent sales, and there have been several homes foreclosed and resold as short sales in your neighborhood. Consider a family that wants to move across town into a nicer home; the short sales will affect the value of their home dramatically. Appraisers will look at the most recent sales, using the cost approach to determine value. This gives you only one real option to take less for your home, and hopefully buy a short sale across town if any are available. Why should we take such a loss? We were always on time with our mortgage and taxes, why are we being so affected by others' hard times?
So you don't sell, because you do not want to take such a loss and there are no foreclosures in the area you want to go to. What do you do to build value for the future? What do you honestly think will help your home stand out in front of the others? What do you think a buyer is thinking about today? Low utility bills? Are they considering looking into solar or energy savings? Are they curious about green building and green renovation products?
Here is an idea: put $15,000 in energy-efficient upgrades in your existing home, taking advantage of the tax incentives and rebates. Now, depending on the upgrades you have chosen, the property stands out in this development. With offering up to 65% lower energy bills alone. A buyer desiring your neighborhood may lean towards your home even if there is a short sale for less. The timing couldn't be better as most are curious on how to renovate to lower utility bills. Green renovations can make a difference in real estate values. Using healthy materials and installing more high efficiency systems will make a difference in quality of life. While economic times are challenging those involved in the energy sector hold promise for growth. Our company, Green Real Estate Education, is educating all sectors in the real estate industry to bring these points to markets. Our educational programs are in demand even in these economic times.
Green Real Estate Education is green "training the chain" of professionals in real estate transactions to bring information to home buyers and sellers on achieving basic economical energy savings, as well as financing these types of renovations. Energy-efficient homes, and especially green-certified properties, are some of the most sought-after residences and are gaining strength daily. The entire building industry is changing towards sustainable and green techniques; it's about time we embrace the new green revolution.
It is the opinion of Green Real Estate Education that a home seller should separate their property from the short sales and get green products and systems into their home as soon as possible. Some may not be thinking of selling right now -- maybe in the future. But all renovations need to have energy conservation offer healthier indoor air quality. To investigate the best and most affordable way to do a green renovation that will produce future value, to hire one of the 5,000 Green Real Estate Education has trained. A GCMP-GL is a Green Certified Mortgage Professional with a Level One Green Leadership Certification and a GCREP-GL is a Green Certified Real Estate Professional with a Green Leadership Certification. These professionals will offer options many do not even realize exist.
Preparing your home for your future and the future of others will be a key to a successful sale. As a buyer, using these professionals will bring you additional information for becoming more aware of what your investment can bring in the future. This can and will support value while separating your home from others.
Kerry Mitchell is the founder and course developer of Green Real Estate Education, which is on target to educate more than 20,000 real estate professionals in going green by 2010. Mitchell established the recognized certification for the real estate industry, the GCREP.GL. She worked for 14 years as a licensed real estate broker in Maryland and Florida, where she now resides.
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