Yesterday I had a request for market data regarding green homes in the Charlottesville area. Someone is trying to gauge market demand for green building in the area. Right now there is a media blitz in Charlottesville for green homes. The Real Estate Weekly, newcomer House and Home, the Green Matters series being run by Habitat for Humanity,(their links page is here) …
Charlottesville is consistently rated as one of the top “green” places in the country.
I perceive the current demand in this market to be quite high, higher perhaps than some people think. (I noted buyers’ demands a few weeks ago). More buyers are asking for utility bills to more accurately gauge what their monthly costs of living will be. More buyers are asking about the energy efficiency of windows and insulation. Many buyers note that windows and insulation will be among the first upgrades they made after they purchase. More are considering sustainable flooring such as bamboo and cork. The demand is there. How to measure that demand, amidst a slower market is the question. The time is takes to accurately gauge market trends is longer, as inventory is staying on the market much longer.
Building and renovating green are more long-term decisions that many in the market – buyers, builders, Realtors, lenders – are not yet used to.
I have written before that those builders and developers who aren’t building green in the next 3-5 years, will be left behind. In fact, I gave a presentation about technology and other stuff at another real estate company in town last week. When I started the previous sentence, two of their Realtors finished it for me.