Attending the recently concluded CAR Expo in San Jose CA we could see that things weren’t exactly hopping, especially in the Green seminars and Green expo booths. Who could blame everyone, with the still lingering effect of the economy, unemployment and overall uncertainty? The Expo offered a bevy of economic forecasts, short sale sessions and new DRE laws going into effect but of course we went to check the green goings on. How’s the Green movement within the ranks of the real estate world? If my Green colleague and I would guess from the sparse attendance at the few green sessions and Green display booths then the state of Green Real Estate isn’t exactly on everyone’s radar.
The Going Green Member Forum offered informative green facts from a CHEERS rater as well as some finer points from Build It Green’s Elise Hunter about the Green Point Rated system. We discovered that the HERS Phase II rating will include: whole house energy homes, uniform rating system based on a statewide rating scale, as well as labeling procedures for homebuyers, renters, real estate industry, mortgage lenders who have an interest in home energy ratings. We say Hoorah to that! The speaker also snuck in some tidbits of info that even surprised us such as the “”Energy Efficient Mortgage” that ties into the 203B FHA loan that allows five percent of property value in most cases, while VA loans allows up to $6,000 in green upgrades.
Hunter offered a straightforward overview of the benefits of the Green Point Rated system, the economic pulse (such as occupancy rates are 5.6 percent higher in Green multi-unit apartment buildings in Seattle) and the state of green buildings. We already knew a lot of the info but not everyone does and with the sparse attendance in the room it appears that interest in Green real estate and its many be benefits may have to wait until the real estate industry weathers this storm.