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Is ‘Green’ at a Premium? Depends Where You Purchase

Who says you need “green” to get a green home?

According to an analysis by realtor.com®, eco-friendliness is becoming the norm—and being a green homeowner may not be as pricey as thought. While California’s costlier markets have high concentrations of green homes, there are also affordable pockets outside the Golden State—and, in many markets, eco-features are no longer at a premium.

The greenest:

  1. Fort Collins, Colo.
    Green Home Listings Share: 36 percent
    Local Median Price-Per-Square Foot (PPSF): $170.4
    Green Local Median PPSF: $171
  1. Dallas-Fort Worth-Arlington, Texas
    Green Home Listings Share: 35 percent
    Local Median Price-Per-Square Foot (PPSF): $139.1
    Green Local Median PPSF: $144
  1. San Jose-Sunnyvale-Santa Clara, Calif.
    Green Home Listings Share: 35 percent
    Local Median Price-Per-Square Foot (PPSF): $738.9
    Green Local Median PPSF: $701
  1. San Antonio-New Braunfels, Texas
    Green Home Listings Share: 34 percent
    Local Median Price-Per-Square Foot (PPSF): $128.8
    Green Local Median PPSF: $130
  1. Tulsa, Okla.
    Green Home Listings Share: 33 percent
    Local Median Price-Per-Square Foot (PPSF): $96.7
    Green Local Median PPSF: $115
  1. Boulder, Colo.
    Green Home Listings Share: 25 percent
    Local Median Price-Per-Square Foot (PPSF): $257.7
    Green Local Median PPSF: $267
  1. Salinas, Calif.
    Green Home Listings Share: 21 percent
    Local Median Price-Per-Square Foot (PPSF): $498.5
    Green Local Median PPSF: $429
  1. Atlanta-Sandy Springs-Roswell, Ga.
    Green Home Listings Share: 20 percent
    Local Median Price-Per-Square Foot (PPSF): $121.5
    Green Local Median PPSF: $132
  1. McAllen-Edinburg-Mission, Texas
    Green Home Listings Share: 19 percent
    Local Median Price-Per-Square Foot (PPSF): $93.2
    Green Local Median PPSF: $107
  1. Santa Cruz-Watsonville, Calif.
    Green Home Listings Share: 17 percent
    Local Median Price-Per-Square Foot (PPSF): $565.7
    Green Local Median PPSF: $544

“Although Southern and Western states still lead the way in green technology adoption, eco-friendly features have grown in popularity across many regions of the United States,” says Javier Vivas, director of Economic Research at realtor.com. “Many buyers have come to expect standard features, and homes integrating specialty green features are becoming more mainstream.

“However, in today’s inventory-starved market, location still reigns supreme and the price of land can easily override the allure of special eco-friendly features,” Vivas says.

Analysts defined a “green” home as one with bamboo flooring, dual-pane windows, ENERGY STAR appliances and/or rating, Seasonal Energy Efficiency Ratio (SEER) ventilation and/or solar panels.

For more information, please visit www.realtor.com.

DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Is ‘Green’ at a Premium? Depends Where You Purchase appeared first on RISMedia.

New Data Finds Homeowners Struggle When Selling, Despite Hot Market

Twelve days before Thanksgiving, Mark and Sue Meaney decided to put their 109-year-old house on the market. They looked at comps of similar-sized homes near their St. Paul neighborhood, agreed on a price with their agent and waited anxiously for their first offer to roll in.

Mark and Sue knew their timing wasn’t ideal. The holidays loomed, and the market was slowing; worse, St. Paul was entering its notorious subzero season.

The couple felt torn. After one year of searching for a new home, they had found the perfect place a few miles away. It was spacious enough to raise their kids and had a first-floor bedroom and bathroom for Sue’s aging parents.

As first-time sellers—Mark and Sue had lived in the house for 20 years—the couple took a leap of faith. They bought the new home, moved in Sue’s parents and dropped nearly $20,000 to spruce up their old house to help it sell quickly.

Several weeks later, their vacant home remains for sale, its exterior weathering the forces of yet another Minnesota winter.

Selling a Home: Truth in Data
Skim any number of news articles on the U.S. housing market and chances are you’ll run across the phrases “low inventory,” “sellers’ market” and “strong demand.” This rings especially true in larger metropolitan areas, where stories of bidding wars abound, leaving the impression that sellers in these markets simply list their homes, sit back and receive offers above the asking price.

For much of the U.S., however, the data reveals a starker reality.

According to new findings from Zillow Group—which used data from the Zillow Group Consumer Housing Trends Report 2017—selling a home in the U.S. is not only fraught with anxiety, but often culminates in unmet expectations.

In fact, close to one-third of sellers said they felt unsatisfied with the selling process. Of first-time sellers, nearly 30 percent were unprepared for how long it took to sell their homes and said they wished they would have started the process sooner, according to the analysis.

Furthermore, 76 percent of sellers across the U.S. ended up making at least one concession, with lowering the price the most-cited compromise. Thirty-six percent said they either struggled to sell their homes within their desired price range or time frame.

“This data shows there is a huge opportunity to create a better end-to-end experience for sellers and help them turn over their homes faster,” said Jeremy Wacksman, chief marketing officer at Zillow Group.

More Information, More Stress
Much of the stress sellers feel stems from that nail-biting wait to get the right offer. Fueling this collective anxiety is, of course, more access to information.

While the internet has greatly democratized the buying and selling process, it has also created a state of seller vigilance. Sellers are more involved than ever in the sale of their homes—and more stressed out.

Take Mark, for instance. He’s constantly monitoring how many views his house gets on Zillow and how it ranks compared to other homes coming on the market. Despite working with an agent, Mark is immersed—and stressed.

While Zillow’s findings show that 82 percent of sellers valued having an agent guide them through the process, America has entered a new era of how deeply involved homeowners are in selling their most expensive investment, Wacksman said.

Krishnan_SoniaSonia Krishnan is a senior writer at Zillow Group. This article was originally published on the Premier Agent Resource Center on Feb. 16, 2018. See the full story here.

For the latest real estate news and trends, bookmark RISMedia.com.

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Weighing Risk and Reward: Crypto-Investing in Home Equity

For homeowners that are looking to access home equity funds, but don’t want to take out a second loan, a home equity line of credit (HELOC) or a reverse mortgage, there are not many options; however, blockchain technology is looking to change that by offering investment opportunities that are tied to a home’s equity and rising values.

Quantm Real Estate (QuantmRE) is a membership-based real estate investment network built on blockchain technology. It allows the primary issuance and secondary trading of investment tokens backed by fractional equity interests in single-family homes. This means that QuantmRE invests in a fraction of the home by paying the homeowner a pre-determined amount of money (USD) to later benefit from rising home values when the homeowner decides to sell.

Any funds gained are used by QuantmRE to continue investing in single family homes—of which the portion purchased goes into a pool of other equity from other homeowners. The company also invests in non-homeowner occupied single-family homes that are held as investment properties.

“Having to borrow from a bank simply to access the wealth that you have built up in your home is deeply unsatisfactory,” said Matthew Sullivan, CEO and founder of QuantmRE, in a statement. “Our ability to digitize the value of a homeowner’s equity and realize the locked-up value will solve a huge problem for homeowners worldwide. It’s time for people to be able to access more affordable homeownership options, flexibility and less financial risk.”

Although the company makes a consistent effort to stay away from the term loan—because the process lacks monthly payments and interest charges—it is, in fact, a type of loan that needs to be paid back. The company does not charge interest, but homeowners are required to pay more than the original sum provided as QuantmRE becomes a partner with the owner of the property and is entitled to a fraction of home value gains—a lien is placed on the property to make sure of that.

So, what’s in it for homeowners? At the moment, fast cash without having to worry about monthly payments and a small chance to profit should the property values dramatically increase from the time of investment. Of course, QuantmRE funds are on the line if the property doesn’t appreciate or goes down in value; but if it does, homeowners will typically receive less for the sale of their property than if they had not engaged in a shared equity contract in the first place.

The question is, do these blockchain investment companies make out better than the homeowners? That may be the case. QuantmRE will typically make its initial investment amount back, and has the chance to profit from home value appreciation. Homeowners, on the other hand, are automatically in debt—a term QuantmRE chooses to refuse—and are then on the line for an even larger balance should their home’s value rise.

The pros? Risk of volatility is reduced, as the tokens deal with only real estate assets instead of other less reliable crypto-investments. When it comes to home improvements, QuantmRE is not entitled to a fraction of the property value gains earned from these updates. Homeowners can also pay QuantmRE before the sale of their home; however, the company may add provisions to ensure they don’t take a loss in the case of unfavorable market conditions. Although QuantmRE’s website states that tax consequences are not known until a future date, homeowners should speak to their tax advisors to confirm before participating.

As with most investments, profitability is determined on a case-by-case basis. While this is a chance for homeowners to participate in a blockchain-based investment, they should consult a financial advisor to determine if this is the right choice for them or if traditional equity-funded loans make more financial sense.

Dominguez_Liz_60x60_4cLiz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Weighing Risk and Reward: Crypto-Investing in Home Equity appeared first on RISMedia.

 

Home Buyers: You can automatically receive personalized Chautauqua County MLS listings by e-mail. Simply choose Free Home Finder and fill in the requested information. Early each morning we will search the local MLS and find the properties that match your criteria and notify you immediately with the latest listing information!!

 

Chautauqua County Home Sellers 

If you're planning to sell your home in the next few months, this FREE service is designed to help establish your home's current market value. Simply choose My Home's Value and fill out the requested information. We will use comparable sold listings to help you calculate the fair market value of your home and return it to you by email. 

 

About Chautauqua

Chautauqua County occupies the extreme southwest corner of New York State. The county takes its name from the largest lake in the area, which is twenty miles long and 1,308 feet above sea level. At one end is located Mayville, the county seat and at the other end is the city of Jamestown. 

Outstanding recreational opportunities exist in the county, from hiking and biking on the county's public trail systems, to fishing, boating and canoeing on the lakes, to skiing and snowmobiling. The famous Chautauqua Institution, founded in 1874 and located on Chautauqua Lake, hosts educational and cultural programs each summer. 
-courtesy of the Chautauqua County Government

 

Your Real Estate Advantage

For over twenty years, Real Estate Advantage has been serving buyers, sellers and renters in Chautauqua County. We are a full service brokerage and we also provide property management services. With over 23 agents to assist you, we feel we are one of the most knowledgeable and experienced agencies in the area. We offer full disclosure to buyers and will work at your pace. Please call us today and let us help you start a life of living on Lake Chautauqua! 

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