What Green Means in the WNC Real Estate Market
Patreecia Spaulding sizes up the difference a green home can make.

“Are there any houses for sale around here with passive solar?” I asked. The real estate agent looked at me like I was from Mars. That was my experience when I moved to Asheville several years ago. Today, things are changing.


The real estate market picture in general isn’t painted great in the news these days, but green real estate is a whole other story. Green homes, or healthy and energy-efficient homes, are boldly taking their place in today’s market.


There are still plenty of real estate agents who won’t know how to answer the solar question I asked, but there’s also a growing number who do. Asheville has the first Board-certified program to train REALTORS® as Environmental Consultants (or ECO agents).


Being certified as an ECO Consultant doesn’t make you an expert on all things “green,” but it does give you a lot of exposure to the information and issues of sustainable, healthy design and development. The courses are taught and attended by local professionals in related fields, so the certification broadens the agent’s referral network, too.


The number of homes with green features increases daily in the regional MLS, the Multiple Listing Service used by real estate agents, another thing that distinguishes this area from others. Our MLS currently has categories to help agents find certified Energy Star and WNC HealthyBuilt Homes, as well as homes that use solar heat, and it will soon include many more search options for green features.


We are living in a very new real estate market. We have a less than vibrant economy that’s inhibiting people from buying. This varies greatly around the country, but hearing about it constantly in the news takes its toll psychologically and affects consumer confidence no matter where you live.


When you don’t have a steady flow of buyers, sellers can’t sell their homes as easily. Only the best homes will sell. Just a year ago, 2.2 percent of the homes on the market here had their listings expire and didn’t sell. In January 2008, the percentage was 26.5. But the good news is that 73.5 percent of the homes are selling. Sellers perceive these as the best homes on the market—either the shiniest apples on the pile or the cheapest. People want the most they can get for their dollar.


Another reason why this is a new real estate market is Mother Earth. We’ve been getting signals from nature that we need to make some changes in how we live. And, green building is not just a fad. For just one to ten percent more in initial cost you can add features to your home that will save you money in the long run and be healthier for you and Mother Earth.


I began comparing the green real estate market statistics to the conventional statistics several months ago. The patterns have been interesting and the facts revealing. When calculating the ratios of homes that didn’t sell to those that were listed between August 2007 and January 2008, 16.81 percent of the total homes listed did not sell. Just 7.81 percent of the certified HealthyBuilt homes didn’t sell.


In today’s market, sustainably crafted homes are more in demand than conventionally built homes. New homes are going to have to provide more green features to sell in the new market. And real estate agents are going to have to know how to find a home with passive solar capabilities or low-VOC paints for their clients—or start thinking about a career on Mars.





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