Green Real Estate and Education Go Hand and Hand and the Timing Couldn’t Be Better
What a better time to think of value in residential real estate than in the present challenging times. Most are still wondering if the projections of a turn around in the current marketplace are just fiction or truth. 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. The bad thing is the family that wants to move across town into a nicer home, but 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. I mean why should we take such a loose; we were always on time with our mortgage and taxes, why are we being so affected by others hard times.
read moreGreen Real Estate Education Presents a New Era Coming to the Industry
Real Estate Investors can see a new era coming in the green revolution. It is no longer business as usual. Years ago, all professions in real estate were forced to become part of the information age, a new information revolution. Fifteen or so years ago, in many areas hard copy paper descriptions of homes for sale and lease and commercial properties were hand delivered. When the information highway came about, computers delivered property information and allowed people to access public records and tax information, providing up-to-date statistical property reports.
We now look to the next 20 or so years from a real estate investment standpoint. In an age where values are declining, it is time to know why green can cause a major shift in a buyer’s decision. A selling price is and always has been what a buyer is willing to pay. Well, thanks to the media — through newspapers, websites and TV, especially HGTV and other stations — education for consumers is being offered. The days of accepting a piece of real estate with the the risks of unhealthy indoor air quality are becoming fewer as consumers become educated.
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