Green Features Aren't Selling Houses

Green housing features like solar roofs and angled walls add cost to a development, and lenders don't see added value. So as CNN reports, green housing currently faces a stiff market.
March 15, 2010, 1pm PDT | Akshali Gandhi
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Because green features aren't always included on the cost tab, they reflect lower resale values. Banks, in turn, won't fully finance the homes, leaving buyers with a bigger check to write for the down payment.

Adding a green feature will probably resell at a fraction of the price if the concept isn't popular, argues David Snook, a California-based appraiser who serves on the real property committee on education for the American Society of Appraisers.

"It doesn't do a lot of good to simply add value based on cost...[since] cost does not necessarily equal value. The question is 'How much will the market pay on resale?'"

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Published on Wednesday, March 10, 2010 in CNN Money
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