How to get the real estate market to value green homes for what they’re really worth
In this photo taken March 23, 2010, installers assemble solar electrical panels on the roof of a home in Glendale, Calif. (Reed Saxon/AP) From installing rooftop solar panels to putting in new triple pane windows and EnergyStar appliances, people today make all kinds of home upgrades that save energy and lower their utility bills. But when they opt to sell their “green” home, it’s often less than clear how such upgrades are valued in the real estate market by appraisers, lenders, or purchasers — or even how information about a home’s energy characteristics should be conveyed to real estate agents and potential homebuyers. “People do upgrade [for energy efficiency], but the problem is, a lot of that information on what they’re doing doesn’t get to the marketplace, doesn’t find its way into the real estate transaction,” says Maria Vargas, who directs the Better Buildings Challenge program at the Department of Energy. The department aims to change that with a...
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