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Friday, December 18, 2020
Sunday, December 6, 2020
How do Solar Panels Impact Property Value
Solar Panels and their Impact on Home Values
I was privileged and honored to be included as part of an "expert roundup" to discuss the ways in which solar panels might be beneficial to a home owner, specifically with regard to the impact on property value. The article includes incredible insights from real estate pros across the country, which might be helpful to someone who is considering whether to purchase, or to lease, solar panels for his/her own home.
John Romito - Heart and Home Real Estate
"Solar panels are a solid way to increase the value of a home by an average of roughly 4% across all markets in the US." John Romito - Heart and Home Real Estate
"Solar panels practically pay for themselves when utility bill savings are factored in along with federal and state tax credit incentives. Solar panels also provide a sleek, streamlined addition to the resale value of the home."
John Castle
"The stats vary on how much value rooftop solar panels add to the value of a house. The most reliable figures have the resale premium from a solar system at about $15,000 nationally.
However, that amount varies considerably by state. In New Jersey and Hawaii, for example, the premium is about $30,000. Owned systems add the most value."
Michael Carnahan - AtHomeNation.com
RE/MAX First Choice
"A homeowner can either own or lease solar panels, and there are advantages and disadvantages to both options.
For buyers interested in owning solar panels, they will typically be excited about the opportunity because they are using renewable energy and they are saving money on utility bills.
If a buyer can save on the electric utility by having solar panels, then the home becomes more appealing and, therefore, more valuable.
A typical buyer could save hundreds of dollars per month depending on the size of the home and the amount of electrical usage.
There are also maintenance costs that should be considered, but overall many buyers see it as a win because they realize monthly savings, and these same buyers are often willing to pay more for that advantage."
As always, please share with me your questions about real estate so I can answer them directly, post the answer here on the blog, and/or share a video response on my YouTube Channel.
Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
Q and A with Mike - Buyer Appraisal Issues
What do you do when an appraisal issue arises?
One of the most challenging areas of real estate can be the appraisal part of the transaction. Do you know what common appraisal issues could arise? Do you know how to handle them? In this video I touch on the types of challenges a buyer may face, such as when the value comes back lower than the sales price, and I talk about the possible solutions to these issues.
I am a absolutely passionate about real estate and about helping my clients. I love to share what I know with anyone who has a question in hopes that this will help to make transactions smoother and less stressful. Please share with me your questions, and I'll be happy to answer them.
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Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
mike@RemarkableListings.com
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