[Greenbuilding] Green real estate market

[Steve Tripp]

I have received quite a bit of excellent information from everyone and have
quite a few leads to follow up on.  I'm pretty new to the world of green and
sustainable living and had not heard of EEMs before.  This is an area I'm
looking into right now with my bank and Credit Union.

One thing I have noticed after talking to several General Contractors about
geothermal systems is that there is not a lot of good information out there
about reliability and performance.  10 years seems to be average that they
give these systems to last before requiring major repairs.  Our energy costs
are also quite low compared to other areas of the states and makes it more
difficult to show payback before repairs are necessary.  I'm still looking
into it though because I don't let go of ideas that easily.

My wife and I are doing most of the finish carpentry, finish plumbing and
finish electrical ourselves as well as installing the bamboo floors, which
is as much as I can handle on my schedule, so our sweat equity should be
pretty considerable on this remodel.

When it comes to low-no VOC products, Contractors seem to be quite well
versed and have worked with them, which is great.  One thing I'm looking
into in this area is the spray in foam insulation that expands into all the
crevices.  It is a very efficient product, but I have not found anything out
about its chemical makeup.

Thanks to everyone.  The information has been invaluable.



On 1/10/07, Jason Holstine <jasonh at amicusdb.com> wrote:
>
> If you're not going after a jumbo loan, try for a Fannie Mae energy
> efficient mortgage (EEM). A variety of local and national lenders are now
> offering them. The program basically counts expected energy savings as
> income, thus improving your risk score and allowing you better terms.
>
>
> Steve Tripp wrote:
> > (I) am wondering what kind of
> > uphill battle I may have with the bank if I cannot show that we are
> > adding more to the value of the home.
> >
> Explain to the loans officer that because you will be spending less money
> on
> heating and cooling, you will have more 'discretionary capital'
> to pay the mortgage with. Of course you will have to have some $ figures
> on
> paper to back this statement up.
> Lenders are in the business of lending money and earning a return on it.
> If
> your credit history merits a loan for something like a new car or a
> snowmobile, there's no reason they would refuse you one for home
> improvements of any kind, especially if you have some equity in the house
> and will be adding more via the 'sweat equity' route.. If you can show
> that
> the improvements will be the equivalent of getting a salary raise ("A
> penny
> saved is a penny earned". said Old Ben ) they should be less hesitant to
> fork over the $.
> If not, the next step is: find a new bank or mortgage broker.
>
> Regular home construction starts in the US have dropped by something like
> 13%, and today's Province newspaper, it appears the expectation is that
> they
> will drop off a further 11%.
> The article was talking about this as a sign thee will be a drop in the
> market for softwood lumber, but the unwritten "other part" of that market
> change is that there will be more mortgage money floating around looking
> for
> some place to go to work.
>
> You asked: Do green homes sell?
>
> Almost any home will sell eventually, but local market conditions
> determine
> when and at what price. However, with the internet changing the world into
> one big market which individuals can play in, the selling of a green house
> might best be done on line to reach a market more interested in such
> things.
>
> Here is a link to the archetypal site featuring Green Homes For Sale.
> http://www.greenhomesforsale.com/
>
> In closing, the more of the work on the renovation that you can do
> yourself,
> the less money you will need to borrow. That's not always possible, but
> even
> just doing the site clean-up and doing things like sorting, de-nailing and
> cleaning up lumber so it can be used again or recycled elsewhere, and
> perhaps part of the landscaping work, will save you some money.
>
> Cheers,
>
> Chris Green.
>
>

-- 
Do not pray for easy lives. Pray to be stronger men.

John F. Kennedy (1917-1963)