States like California and Texas are at the forefront of developing technologies that offer "greener" building practices.
The
whole nation is still in the process of going green, and has not
arrived there yet. New green technologies are coming forward.
Communities are installing new green building plans and systems. Now, in real
estate, there is green building, green houses, and green building
standards. There are forms to be filled out stating what is green, or
what green features are available to the buyer. In a recent survey by
the National Association of Home Builders, it was reported that more
than 97,000 green homes have been built and given the stamp of green
certification. Builders are attending green workshops and taking
courses on green building practices. Real estate agents are taking
green courses and earning a green real estate professional's
designation, a new designation among many from the National Association
of REALTORS. Earth Advantage, a nonprofit organization out of Portland,
Oregon, did a survey, and found that 42% of the people surveyed would
spend 10% more for a home with green features. While many of us applaud
the movement towards green, and more energy efficiency, there is a
problem.
Remember,
when purchasing a home, most people have to get mortgage financing.
Remember also, that the mortgage company, or bank, will want an
appraisal done on the property to be purchased. That has always been
the reality. However, it becomes a challenge for an appraiser to
evaluate a green home, because there is not an established set dollar
value on a green structure, or green feature. It
is one thing to compare square footage, number of rooms, location and
age of home, but throw in the green design or system of a home, and
that makes the appraiser's job very difficult. The solution is
education, and communication. In some places coalitions of construction
industry workers, product suppliers, local governments, other
professionals, and the general public, are forming, as well as
incentives, metrics, and standards. In states like California, the state has California forms that provide tax incentives for building green. This is especially true for those builders that want to install alternative and renewable energy systems on homes.
Although,
green has been developing among residential units, the commercial real
estate sectors are also starting to be affected by this green movement
in building practices and procedures. Green designation standards are
given to those builders who follow green standards.
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