Sellers/Owners/”Green” Buyers
Demand is growing for green homes, but supply is low. Fixer-upper type homes have been hit hard in the current real estate market, especially in my local market of Elmhurst. The federal government is giving out millions of dollars to spur energy-efficient home improvements, create jobs and cut our dependence on foreign oil.
The folks who understand that these three issues are related have an advantage in today’s real estate market, and will be best poised for resale down the road! That’s why I created Ready, Set, Green Homes (SM) and The 5×10 Challenge. Whether you are selling a home today, own a home, or are shopping for a green home soon, I have a program to help.
“Green” Homebuyers
Whether you call yourself green or not, there is a growing wave of buyers who are interested in the lowest utility bills possible, and homes that are healthier and more comfortable to live in. There is also a growing wave of new homes built to green standards. But what if want to live in an established community like Elmhurst with an older housing stock? And what if your budget doesn’t allow for new construction? Ready, Set, Green Homes (sm) is the tool you need! The program allows you to find an affordable existing home, and customize it to be green the way you want. The program combines a credit from the seller, the federal tax credit available for approved energy efficient remodeling projects, a discounted green loan from the program’s affiliated lender and a free energy audit provided by me as your Realtor.
My recent townhouse listing in Wheaton featured the Ready, Set, Green Homes program. The total green incentive package to be provided to the buyer at closing was $4650 on a condo listed for $170,000. A perfect opportunity to update the place with an ENERGY STAR furnace and a few windows! On a $500,000 single-family home the incentives could be as high as $18,300! That would easily bump up the insulation in the home and cover some ENERGY STAR windows throughout!
Check out the YouTube video from Chicago Magazine’s “Deal Estate” blog which explains how the program works.
The program creates many benefits for buyers:
- Create the house you want even with affordable green home inventory so low
- Cut energy bills by 10-30%
- Improve the long-term resale value of the home
Contact me for full details and restrictions on how the program works, including suggestions for using your own lender for financing.
Sellers of a “Not-YET-Green Home”
Let’s face it, it’s hard for any home to stand out in today’s crowded real estate inventory. But the Ready, Set, Green Homes (sm) program will help you market your current home, even if it’s not green yet, to the attractive and growing pool of green home buyers. The program works very much like a home warranty program. As a seller you can determine the amount of a credit you might provide a buyer so they can make green improvements to the home after closing. Typically a lender can approve a credit up to 3% of the purchase price. Then I can package this credit with the federal tax credit available for approved energy efficient remodeling projects, a discounted green loan from the program’s affiliated lender and a free energy audit provided to the buyer by me as your Realtor. The incentive package on a $200,000 condo might be around $5000. On a $500,000 single-family home the package might be $18,300! See the incentive package information and YouTube video in the Green Homebuyers section above.
Contact me to determine the best green incentive package to market your home in a bold, new way!
Homeowners
You may not be selling your home today, but homesellers are always looking for projects they can do now to add value down the road. In my opinion, the smartest projects right now are energy efficiency home improvements. Why? Because you can get a tax credit up to $1500 back on approved projects with your federal taxes. And, because you’ll see an immediate cut in your utility bills between 10-30%! And, by the time you get around to selling your home, buyers will be shopping based on features AND utility bills. Believe it or not, they are also likely to be shopping for homes that will be easiest to convert to solar power, and the homes that are most efficient make the best prospects.
I created The 5×10 Challenge to help any homeowner take five smart steps towards energy efficiency before the end of 2010. I recommend a project budget of $5000 because it earns the maximum tax credit of $1500, so the project really only costs you $3500. Visit www.5×10.org to sign help and start planning your 5×10 project today!
