Green Homes and Appraisals

Last year, single-family green home construction represented 17 percent of the homebuilding market, in effect doubling since 2008, according to a report by McGraw-Hill Construction. Researchers predict that by 2016, green home construction could comprise 29 percent to 38 percent of the market, as builders devote more time to green projects. The share of remodeling projects labeled as green is expected to rise as well.

Who’s creating the trend and who’s following it? It’s tough to say.

Simultaneously, manufacturers are coming out with better products, builders and remodelers are looking to differentiate themselves in the marketplace, and homeowners are seeking healthier living spaces while keeping a lid on rising energy costs.

“It might not be for everybody,” said Brandon Weiss, of Weiss Building & Development LLC in Elgin. “Some people might still want the cheapest house they can find. When I got into it six years ago, everyone had to be educated. Now I’m actually getting calls. They are looking for a green homebuilder that knows about indoor air quality or (they) want to save on their energy bills.”

In addition to his other projects, Weiss recently completed a gut rehab of a foreclosure in Elgin that received a Leadership in Energy and Environmental Design (LEED) platinum rating. The home sold for more than its list price and appraised higher than its selling price.

Reprinted partially from http://articles.chicagotribune.com/2012-10-11/classified/ct-mre-1014-podmolik-homefront-20121011_1_green-home-appraisal-institute-green-fields

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