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Converting Energy Efficiency into Higher Appraisals

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The need for making energy efficiency simple and affordable.

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Converting Energy Efficiency into Higher Appraisals

  1. 1. When Improvements Appraise & When They Don’t
  2. 2.  Presenters Philip Beere-(When it works) Preparing a draft of new home improvements and latest technologies, excluding green focus. Will provide case studies, include statistical analysis and theories to show how and why particular home improvements were successful in contributing to value. Developing draft in a couple of weeks or sooner. Don Saba-(When it doesn’t work) Discussing case studies; will educate appraisers on over improvements (functional obsolescence) and/or super adequacy. Will also discuss theories to show how and why the particular home improvements were not successful in contributing to value. Will get started once draft is received from Philip Beere. Thomas Kenney – Collaborating with Philip Beere to discuss home improvements and latest technologies, possibly from an organizational standpoint. Webinar Time 2hrs  · Case Studies-When it works 45 minutes  · Case Studies-When it doesn't work 45 minutes  · Q&A 30 minutes
  3. 3. Today's Objectives  2 Case Studies: When Improvements Pay (Philip Beere)  Case Study: Lipstick vs. Rehab (neighboring houses)  feat Jay Josephs  Typical Improvements of each Case Study  3 Case Studies: When Improvements Don’t Pay (Don Saba)  Innovative yet practical and economical home imrovements (Thomas and Philip)
  4. 4. G Street introduction:  Brand  Marketing  Design  Educator  Higher Appraisals  Simplifies the process  NAHB Partner of the Year  Not Realtor or Contractor
  5. 5. LEED + NAHB = The need for making ‘green’ simple and improved, therefore the G
  6. 6. $4500
  7. 7. MARKET CRASHES IN PHOENIX: APRIL 2008
  8. 8. The first Emerald certified in the U.S. Purchase 89k Sold for 240k 20 days on market
  9. 9. G 2006 LEED Design 2009 NAHB 2009 IECC
  10. 10. 3 CASE STUDIES When improvements payG HOME™ Philip Beere
  11. 11. 8101 N 6th Street Acquisition Price 74k Acquisition per square foot Improvement Cost 65k Contract Price 184k Appraised Price 184k Neighboring Homes average value 95k Price per square foot Financing
  12. 12. 8101 N 6th St, Phoenix NAHB Emerald Certified
  13. 13. 101 N 6th St, Phoenix, AZ old on 7/5/12:$380,000 stimate®: $259,619
  14. 14. 5225 N 83rd Place Acquisition Price 74k Acquisition per square foot Improvement Cost 65k Contract Price 184k Appraised Price 184k Neighboring Homes average value 95k Price per square foot Financing
  15. 15. 5225 N 83rd PL, Scottsdale NAHB Bronze Certified
  16. 16. 5225 N 83rd, AZ Sold on 8/23/12:$340,000 Estimate®: $278,619
  17. 17. 2219 W Indianola Acquisition Price 74k Acquisition per square foot Improvement Cost 65k Contract Price 184k Appraised Price 184k Neighboring Homes average value 95k Price per square foot Financing
  18. 18. 5225 N 83rd, AZ Sold on 6/13/12:$184,000 Estimate®: $157,019
  19. 19. The AppraisalJay Josephs
  20. 20. Jay Joseph slides
  21. 21. Lip Stick vs. Rehab Comparison (neighboring houses) 2206 2219 Acquisition Price 64k 74k Acquisition per square foot Improvement Cost 30k 60k Contract Price 124k 184k Appraised Price 95k 184k Neighboring Homes average value 75k 75k Price per square foot Financing Days on market 105 22
  22. 22. Lipstick case study
  23. 23. Photos of 2206
  24. 24. Improvements Improvements Comparison Improvement Typical Lipstick Case Studies Paint ✓ ✓ Flooring ✓ ✓ Cabinets ✓ ✓ Windows ✓ ✓ Detailed Design Standards (aesthetics) ✓ Curb Appeal - Landscape ✓ Improve and Measure Mechanical ✓ G Home™ (branded and certified) ✓ Green certified as verified by NAHB Research Center ✓ Homeowner education ✓ Financing Days on market 104 22
  25. 25. THE TYPICAL G HOME™
  26. 26. Priced: 150k – 390k
  27. 27. Improvement Strategy  Design and Aesthetics #1  Pre and Post Measure, Energy and Water  Third party verified and certified, NAHB  HERS Index, or REM/Rate used  Educate Investor, Real Estate Professional, Home Buyer, and Appraiser
  28. 28. 3 CASE STUDIES When improvements do not pay Don Saba
  29. 29. The latest… in home improvemnets Philip Beere & Thomas Kenney
  30. 30. News articles and statistis slides
  31. 31. Design
  32. 32. Energy effieciency and education = comfort and health
  33. 33. Supporting material
  34. 34. G STREET™ Education
  35. 35. Remodel Workshop and Energy Efficiency Design Partners
  36. 36. Remodel Workshop: Special Session examples  Monthly Series  Spotlight a remodel strategy:  HVAC: Incentives and rebates  Landscape Design  Interiors and Materials made easy  Marketing for eco-flippers  Working with the Appraiser  Energy Efficiency mortgages  Hear from Appraisers of the G Home™
  37. 37. Thank you philip@gstreetinc.com
  38. 38. Next step?

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