Northeast Sustainable Energy Association (NESEA) asked if I would submit an article on the process of high-performance home valuation for the Fall Edition of BuildingEnergy Magazine. The three documents mentioned in the article should be used in the valuation process of any HPH, spec, custom built or resale.
"Comparative marketing analysis can be very difficult because there may not be homes in the neighborhood with solar PV and if they do, the posting agent that entered info into the Multiple Listing Service almost certainly didn’t list the critical information we need to value it on a home," Foley observes.
Hey there Realtors - get your Green Designation in Boston as part of the annual conference package!
Register for a special offering of the #NARGREEN course on Wed., 10/31 at #NARAnnual for just $75 early bird pricing! Learn about consumer demand for green homes, define smart and green features, discuss cost benefits of green. http://bit.ly/2LiCaf0
Winchester, MA April 16, 2018 – RE/MAX Leading Edge Agent, Craig Foley recently represented the sale of the E+ Solutions LLC Highland St. project in the Fort Hill neighborhood of Boston. The project, an ultra-high performance home, commanded an impressive 22.7% premium per square foot than its built-to-code competitor down the street.
"Craig is a national expert in green home marketing and valuation,” said Linda O’Koniewski, CEO, RE/MAX Leading Edge. “His expertise gives developers and homeowners a clear advantage in conveying the value of green homes to home buyers, their agents and lenders."
Another article in REALTORMag about last week's Sustainability Summit hosted by NAR in Washington, D.C. So many industry leaders were in attendance including Jeremy Crawford, Sandra Adomatis, SRA, LEED Green Associate, Lauren Hansen, John Barrows, Ben Hoen, Gabe Klein, George Karayannis, Jaclyn S. Toole, Jamie Johnson to name a few. Great that NAR leadership Elizabeth Mendenhall, Heather Ozur, Connie Hettinga, and Kevin Sears were so engaged...and special thanks to our excellent NAR staff Amanda Stinton, Marc Gould and Russell Riggs for this outstanding event. Note to self: good to sit next to Pres elect so you are included in photos, lol...
"Craig Foley, GREEN, a sustainability expert with RE/MAX Leading Edge in Somerville, Mass., said introducing the topic of energy efficiency to clients can affect transactions in both positive and negative ways, depending on your preparedness to explain the subject wisely. To mitigate problems, practitioners should get specific training on how to sell energy-efficient homes, he advised."
Here's a teaser video for the project I worked on with Elevate Energy to establish a best practices for listing solar PV homes. Hopefully full class will be available by the end of June for CE's in most states www.youtube.com/watch?v=OBz2HpPpphE
There is a link at the end of the short video where you can sign up for the latest info about the project.
Warren Group Banker & Tradesman May 2017 interview home energy scores - balancing real estate industry worries versus buyer's need for information on operating costs of a home...found at https://vimeo.com/215426290
Very proud to have been part of the core team of this Lawrence Berkeley National Laboratory project to create a road map for implementing solar PV auto-pop data into the MLS.
More info can be found at https://emp.lbl.gov/publications/capturing-sun-roadmap-navigating-data
"The work that I’m doing now as a sustainable real estate consultant, my business is focused on high-performance homes. I also do a lot of real estate education. My focus is on green homes and sustainability. I ended up being in a unique place at a unique time at the right kind of market to bring this to light. I love what I’m doing now
Panel I participated in on solar PV valuation featured on NAR website: "REALTORS® need to educate themselves and get proficient on this topic if you are going represent home buyers and sellers in the solar powered niche" #realestate #solarrealestate
Honored to be working on two projects in this DOE link, working with Elevate Energy to write the curriculum for national CEU class for real estate agents on solar PV as well as the LBNL project to auto-populate the multiple listing service with solar PV
"Will green energy investments help to increase the value of my property when it is sold? The answer is a qualified, yes. Let me explain"
"development of online training programs that will teach real estate professionals, appraisers, and appraiser regulators how to value residential solar PV systems. Delivering on fair resale value for these arrays will help promote further homeowner investments in solar"
"Craig Foley, e-PRO, GREEN, managing partner and energy consultant for inCharge Energy LLC, said that in areas such as his where customers pay a premium for energy, the payoff can be even greater
"A few years ago, real estate broker Craig Foley, chief of energy solutions at RE/Max Leading Edge, wondered whether “buyers were speaking with their wallets when it came to lower energy costs for homes.” He studied about 4,600 homes in Greater Boston, measuring whether buyers preferred natural-gas heating to oil, which tends to be more expensive. It turned out that natural-gas homes commanded $11 more per square foot — that adds up to a $22,000 premium on a 2,000-square-foot house.
"As Mr. Foley put it, “the passage of the bill would ensure that consumers receive content similar to when they purchase a car; the MPG requirement for the passenger vehicle fleet is one metric all U.S. consumers have available to them at the point of sale.” As S.1761 dovetails nicely with USGBC MA's green building focus, we are proud to support its passage."
"Unlike other “fuels,” energy efficiency does not have a furnace that burns, or even a utility meter and breaker panel box. Energy efficiency is invisible for most people; in fact, it is only present in its absence – like when your utility bills drop. For that reason it has been hard for the average residential real estate agent to effectively communicate energy efficiency benefits to clients. But that’s changing."
"Many people believe that the multiple listing service is a single, monolithic, centralized database of real estate transactions that has stored the essential information for residential sales across the country. Nothing could be further from the truth."