We’re predicting that many homeowners, in the not so distant future, will want or need access to rooftop solar.
Based on improving technologies, financial incentives and increasing demand,his is the definition of thinking forward.
What does this mean for the housing market today? Unfortunately, most of the rooftops have too much shade on them to economically produce power with solar panels. It also doesn’t help that many HOAs won’t let you put solar panels in the yard.
While generating solar energy seems simple enough, not many homes are pointed into the sun. Because the vast majority of existing homes were built with no consideration for harvesting sunshine, only certain, randomly placed ones have enough access to direct sunlight to efficiently do it.
Because solar panels don’t produce electricity in the shade and because most HOAs won’t let you put them in the yard, home’s that offer good rooftop solar opportunities are beginning to fetch premiums in today’s marketplace.
The market for “rooftop solar homes”, homes with the access needed to reliably produce solar energy, is increasing as is the value of them. This is creating a new segment of the real estate market and with it comes a new kind of agent, one who understands that identifying unappreciated solar values in a home is the best marketing tool there is.
We identify and market homes that offer good rooftop solar opportunities which requires more product knowledge than most agents posses in today’s market place today. It also gives us the experience you depend on to find a quality move-in-ready or a profitable home renovation project. Our competition is training agents, we’re educating the real estate professionals needed to work this end of the market.
But having a good working knowledge about how homes are built, how they age and how you renovate them gives us the edge if you’re looking for move-in-ready homes or homes needing renovation. Renovating a home and making it your own can be both financially and personally rewarding, if you’re working with the right home.
Asking questions is one thing, being able to answer them is another. The best way to answer any question is to be an authority on the subject at hand. While your Good Investment understands the market like any good agent would, they are also an authority on the home itself.
Whether you’re buying or selling, fixer uppers typically fall into 2 distinct categories…cosmetic or structural.
The cosmetic renovation will often involve nothing more than paint, carpet, landscaping and fixtures. These can renovations can move quickly because they typically won’t require permits or inspections that come along with them. On the other hand, a structural renovation may involve removing walls or repairing foundations and these will require permitting. More time consuming than a cosmetic reno, the structural renovation offers more profit potential for those with the patience needed to finish one.
Selling a fixer upper can be challenging. Many agents will encourage you to make repairs in order to make a return on your investment. This is understandable because most agents don’t have an outlet to sell project homes other than the “house flipper”. Because they have to budget for resale expenses, the flipper expects a deal and ultimately, it’s coming out of your pocket. Good Investments on the other hand has buyers waiting for the right project and because they don’t intend on reselling the home, they can pay more for it than a flipper can. We currently know of no other company in our market that approaches the sell of you home in this way and because we have owner occupants waiting to buy your home, we can get you a better price for your fixer upper than our competition can.
Buying a fixer upper can be challenging. Homes that need renovation may not qualify for a conventional home loan and this is where having good credit and a substantial down payment will make all the difference. Also, financing the repairs can be tricky as well but again, we at Good Investments know how to help you get the funds you need to see your project through.
Knowing and being able to identify good renovation opportunities is the key to making one work for you. For those who have the money and the guts to do it, renovating a home can not only be profitable, it can be the best way to get the home you want. Of course, all of this depends on finding the right home and being prepared to buy when the time comes!
To find the right Fixer Upper, work with an agent who understands the success of renovating, a Good Investments agent! Contact us today for more information.
However, there is a new way to renovate…recognizing easy ways to claim solar potentials only makes sense, if you know what to look for!
We’re looking for Licensed Agents and Brokers who are ready to transition into what the Real Estate market will be, not what it has been. As interest rates rise, the housing market will cool and it will be more of a numbers game than the emotionally charged roller coaster it’s been. The best way to win the numbers game is to understand the numbers and one of the most important tools you’ll have to win at this game is product knowledge. The condition of a home and the potential it has to build value through renovation and addition will be paramount in the years to come.
We have yet to find a major player in the Real Estate industry that does anything to teach its partners about the products they deal with on a daily basis. We think this shows in the number of deals that have fall apart or are undersold because the Agent simply didn’t know enough about the property they’re dealing with to properly market it or avoid it all together. Our goal is to teach our Agents and Brokers everything they need to know about the average home so they can become experts about them.
But we’re also focused on where we think the market is going and in our mind, it’s towards Solar Viability. Solar is growing beyond a “green” technology and in parts of the country where rolling blackouts are becoming the norm, solar has proven to be a useful supplement to grid supplied electricity than it is a “going green” gimmick.
In today’s market, solar viability is a freebie but we don’t think that won’t always be the case. As demand for electricity grows, as the production of electricity using fossil fuels continues to decline and as our grid continues to deteriorate, having the ability to produce solar energy will be a useful, and valuable, quality to find in a home.
