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What Green Means in the WNC Real Estate Market
Patreecia Spaulding sizes up the difference
a green home can make.
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“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.
Patreecia is an ECO Consultant and broker
in Asheville; prior to Western NC, she spent 16 years in Papua
New Guinea and then co-directed an international peace-building
institute. She has degrees in Environmental Design and Leadership
Studies, and her specialty is helping people who respect the Earth
with their real estate needs. She can be contacted at tree@kw.com,
or you can read her blog at http://patreecia.featuredblog.com.
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