Why Real Estate is a Green Issue

The fact that the Green movement started back in the sixties and seventies is no surprise to me. When I was growing up, my grandma used to save the water from washing rice and produce to water her gardens. She was practicing a combination of the "green" principles in green living - reduce and reuse.  No wonder, her roses blossomed. 

Today, we hear and read about everything green. Companies in various sectors, ranging from technology, financial services, energy, retail, to manufacturing, are embracing environmentally safe practices. Bristol Myers-Squibb, General Mills, IBM, HP, Mattel, Exxon-Mobil, Intel, Procter & Gamble, Gap, Nike, Heinz, PG&E, Kohl`s, GE, Citigroup, Microsoft, Coca Cola, Apple, Staples, JP Morgan Chase are just a few of the 100 top corporate citizens named by Forbes Magazine that implement green practices in their work sites, product development and packaging, and energy-saving data centers.¹  Bank of America plans to build a 52-story eco-skyscraper near New York's Times Square, while Empire State Building is undergoing a $20 million renovation to be green over a 5-year period with the objective of cutting energy by 40% and saving about $4.4 million on energy costs a year.²

Within the United States alone, homes account for 21 percent of the greenhouse gas emissions.³ Rising energy costs have prompted groups and individuals to look for cost savings. Consumers are becoming more and more environmentally conscious. Cahners Residential Group, a building trades publisher, surveyed and found that consumers are ready to pay for a house that has alternative building materials and energy-efficient systems. Results of the survey showed that almost 80% of respondents listed the environment as a top concern, and almost 90% replied they would be willing to pay more for a house with environmentally friendly features.⁴ Consumers are also looking for healthier lifestyles in greener homes. According to National Association of Realtors (N.A.R.), 75% consumers surveyed indicate green features preferred when purchasing homes.³  

In the commercial sector, a recent study (CoStar Group Study) revealed the economic benefits of building green.  LEED buildings command rent premiums of $11.24 per square foot over their non-LEED counterparts, and have 3.8 percent higher occupancy.⁵ What is LEED? "The Leadership in Energy and Environmental Design (LEED) Green Building Rating System^TM encourages and accelerates global adoption of sustainable green building and development practices through the creation and implementation of universally understood and accepted tools and performance criteria".⁶  Compared to non-Energy Star buildings, Energy Star buildings represent a $2.38 per square foot increase in rental rates, and have 3.6 percent higher occupancy.  Another trend that may garner more interest from institutional investors is that Energy Star buildings are selling for an average of $61 per square foot more than their peers, while LEED buildings achieve a significantly $171 higher price per square foot.⁵

Additionally, California's Public Utilities Commission has mandated that new housing developments are to be "zero net energy" by 2020. "A zero energy home (ZEH) combines the latest technology, energy-efficient construction and appliances with commercially available renewable energy systems, such as solar water heating and solar electricity. The result is a home that produces its own energy-as much as or more than it needs".³  Last but not least, federal and state programs offer incentives for homes and buildings to be more energy efficient.  As more and more emphasis moves towards eco-friendly designs and cost-savings, REALTORS^® will join hands with consumers, homebuilders, homeowners, local governments, schools, and others to focus on the energy-efficiency of homes and buildings.  

Agents interested in obtaining the GREEN designation offered by N.A.R should visit National Association of Realtors (N.A.R.). To read about green trends, and how they may benefit you as a real estate professional, check out the following sites -

1.       C.A.R. green site - understanding what's green, tips & information for homeowners & more.

2.      U.S. Green Building Council - to learn, certify & understand green building, & more about LEED.

3.      U.S. Environmental Protection Agency, or EPA -  - provides information on its Energy Star program, with resources on new-home builders, lenders, energy-use rater, and utility programs that promote energy efficiency.

4.      Energy Star  - The site also provides users with an extensive list of federal tax credits for using energy-efficient products.

5.      Database of State Incentives for Renewables & Efficiency - DSIRE provides information on state, local, utility, and federal incentives that promote renewable energy and energy efficiency.

6.      Energy & Environmental Building Association or EEBA - is a principal association for builders and others, including real estate professionals, concerned with development of environmentally friendly buildings.

7.      Residential Energy Services Network - sets standards for building energy performance certification industry.  Site also contains basic information on energy-efficient mortgages and links to many of the key green housing sites.

8.       Energy Efficient Mortgages, offered as part of the Energy Star program, spells out EPA home energy-efficiency standards and FHA, Fannie Mae and Freddie Mac mortgage requirements on mortgages that credit a home's energy efficiency in the mortgage.

9.      Earth 911 - find local recyclers, create an office recycling program, and do a waste assessment, among other programs.

10.    National Geographic  - guide for daily living.

Notes:

1.         Forbes Magazine

2.         Boston Globe

3.         California Association of Realtors' Green site

4           National Association of Realtors

5.          N.A.R. - Green Buildings Perform Better

6.          U.S. Green Building Council

Copyright SherrySim2009. Information deemed correct at time of posting but not guaranteed.

Review of 2008/2007 Home Sales & Prices in Cayucos, CA

JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007

Data from the Central Coast MLS shows that sales of stick-built single-family homes in Cayucos improved by 23% or 8 more sales, in 2008, when compared with 2007.

It also appears that the average time taken to market properties improved by 13% from 158 days to 137 days.

Conversely, the median sale price dropped by 5% from $840,000 in 2007 to $799,750 in 2008.

The above data shows that home sale prices in Cayucos are still holding relatively strong when compared to other cities/towns in San Luis Obispo county.

Due to limited sales data, home sales of condos and mobile homes are not considered in this review.

Notes: 

 1.  AVG. DOM = Average Days on Market

 2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences included.

4.  Condos, PUDs, and mobile homes are not included in this study.

Review of 2008/2007 Home Sales/Prices in Morro Bay, CA

JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007

Sales of stick-built single-family residences rose by 11% in 2008.  This reflects the addition of 11 sales over the 96 sales in 2007.  The double-digit increase in the 2008 home sales could be attributed to a higher number of short sales and foreclosures and sales of more lower-priced homes in Morro Bay.

Out of the 107 sales in 2008, more than half or 61% of the sales are priced below $550,000.  A small 10% of these sales are above the $1-million range.  The remaining 29% sales fall between the $550,000-$999,999 range.

For the same period reviewed, the median home sale prices declined by 9% from $572,500 in 2007 to $520,000 in 2008.

Additionally, sellers needed an average marketing time taken of 146 days to sell their homes in Morro Bay.  This is 13 more days when compared to the same 12 months a year ago.

The above data is culled from the Central Coast Multiple Listing System.  Price reductions still prevail. The median home sale price is expected to continue to decline, possibly within a single-digit drop, at least till end of this year. 

Notes: 

 1.  AVG. DOM = Average Days on Market

 2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences included.

4.  Condos, PUDs, and mobile homes are not included in this study.

Review of Home Sales & Prices in Los Osos, CA

For January-December 2008, Los Osos saw a drop of 17% in sales of stick-built single-family homes when compared to the same period in 2007.  The number of stick-built single-family homes sold fell from 124 in 2007 to 103 in 2008. 

At the same time, sellers took more time - an additional four days based on an average marketing time of 129 days to sell their properties in 2008 compared to a year ago.

The median home price decreased by 8% from $471,000 in 2007 to $435,000 in 2008.  The decrease is not surprising as we saw fewer sales of higher priced properties.

Out of the 103 stick-built single-family homes sold in 2008, almost 64% or 66 out of 103 homes are under $500,000. Only five of these sales were priced over $1 million. 

The data obtained from the Central Coast Multiple Listing System reflects more sales in the lower price ranges due to short sales and foreclosures in this small coastal town.

Notes:

 1.  AVG. DOM = Average Days on Market

2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences are included.

4..  Condos, PUDs, and mobile homes are not included in this study.

Review of Home Sales & Prices in Cambria, CA

Among the coastal towns/cities in San Luis Obispo county, Cambria suffered the highest decline of 10% in the median home price in 2008 when compared to the same 12 months a year ago.  The median home price for 2008 was $632,500.  This is a drop of $67,500 from $700,000 in 2007.

Sales of stick-built single family residences in Cambria suffered a big decline of 18% @ 80 sales versus 97 sales in 2007.  A review of the data from the Central Coast Multiple Listing System shows that the bulk comprising about 73% of the home sales are in the mid-level price range, from $500,000-$999,999.  The next level of sales, ie. 15%, are in the lower price ranges which are under $500,000, with the remainder sales (13%) falling in the over-the-$1-million price range.

Unlike the other areas, the consolation is that the average marketing time is unchanged, @ 157 days.

Home sales and home prices are expected to decline in Cambria, at least till end of this year.

Notes: 

 1.  AVG. DOM = Average Days on Market

 2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences included.

4.  Condos, PUDs, and mobile homes are not included in this study.

Review of Home Sales/Prices in San Luis Obispo, CA

Like every other markets, the city of San Luis Obispo was not spared by the decline in home sales and prices on stick-built single family residences.  Notwithstanding that the city of San Luis Obispo is a college town that tend to face higher turnover in ownership, home sales fell by a huge 24% in 2008.  Compared to 2007 where there were 275 home sales, only 209 sold in 2008.

It's interesting to note too that there are fewer million-dollar purchases in San Luis Obispo during 2008.  Of the 209 sales in 2008, only 24 or about 23% are sales on properties over $1 million.  14% of the 209 sales are between the $250,000 to $499,999.  The bulk of the sales is in the $500,000-$999,999 price range.

In 2008, sellers needed additional 10 days to market their properties. The average marketing time lengthened from 83 days in 2007 to 93 days in 2008.

The median home price of stick-built single family homes in San Luis Obispo saw a 5% decrease in 2008.

Notes: 

 1.  AVG. DOM = Average Days on Market

 2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences included.

4.  Condos, PUDs, and mobile homes are not included in this study.

48 15th Street in Cayucos is Sold!

Cayucos, San Luis Obispo County  -  The single story at 48 15th Street has been sold.

Property information

'Squirt, Soap, Scrub & Spray' lands Cayucos Rotary with over $1,000 towards school scoreboard

Cayucos Del Mar Project Update

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Back in April 2007, I shared that a large development was proposed at the junction of Old Creek Road and Ocean Boulevard in the south community of Cayucos, CA.  The project is again stalled as the county Board of Supervisors had requested for more changes in the design, especially on the third floor, to allow more recesses or openings.

Many local residents opposed the project. A group known as the Concerned Citizens of Cayucos (CCC) was formed to address this issue and represent the residents' concerns. Concerns raised included lack of conformity with the residential neighborhood - the project was considered "out of scale"; traffic impacts; lack of parking; safety and potential soil contamination.

The Planning Commission had approved a two-storey building, with a height restriction of 22 feet versus 30 feet that was in the original design.  The Planning Commission's approval was supported by County Supervisor Bruce Gibson.  Franco DiCicco, the project developer is appealing the Planning Commission's decision. The next hearing is scheduled on October 28, 2008.

Originally, the project was three stories high that would include 18 motel rooms, four condominiums, a restaurant and a convenience store.  The restaurant and convenience store had been eliminated.  Some 5,000 square feet of commercial space, most of it on the third floor, was removed.

An update will be posted after the October 28, 2008 hearing.

To read about my earlier post, please refer to :-

http://activerain.com/blogsview/73117/DEVELOP-OR-DOWNSIZE-THE

For more information on the Cayucos Del Mar Project, check out :-

Concerned Citizens of Cayucos' site: http://www.cayucosproject.com/

Developer Franco DiCicco's site:  http://cayucosdelmarproject.com/

Disclaimer: The photo is a simulation of the proposed project and may not be to scale.

Cayucos Rotary's Car Wash Fundraiser

You're all invited.

For $5, you can get your car washed on Saturday, October 18 from 10:00 am to 2:00 pm

at the Cayucos School, 301 Cayucos Drive, Cayucos, CA

All proceeds from the car wash will go to the purchase of an electronic scoreboard for the new school gym

 at Cayucos School.

 Come and show your support to the students who will be present to wash your car, and thank you.

A copy of the flyer is featured below.

Spice & Fun at the Cayucos Seniors' October '08 Potluck Luncheon

On my second visit to the Cayucos Seniors' potluck luncheon this month, I found myself inducted as an honorary member of the group. The most senior of all told me they love to have me join them, but wondered about my age. It turned out that I would not qualify, but they decided to honor me instead, and made feel me even more welcome.

The Cayucos Seniors' potluck is held every second Wednesday of the month, at the Cayucos Veterans' Hall at the Pier. On such Wednesdays, the seniors bring a dish of any speciality to add to what their senior counterparts had cooked at the Cayucos Veterans Hall.  They might also bring their own chinaware and cutlery, if desired. Wine was offered at very nominal prices.  Other beverages were free.  There's usually a good spread of salads, meats and desserts.  The senior volunteers also know how to cook up a dish. For the October 7th luncheon, the theme was German, so we had sausages and sauerkraut.  Many members worked hard to serve their fellow seniors.  Several cooked and cleaned in the kitchen while others cleared dishes, and ran the program.

After lunch, we were treated to a series of folk songs, waltzes, and ballads from the quartet who sang, wooed, boogied and played for the audience. Many swayed to the music. A few couples stood up to dance.  I was thrilled to see the seniors hum and smile to the tunes.  Let it be said that they did know how to have a good time.

I met new friends, like the Simpsons below, who just celebrated their 66th wedding anniversary. They were a very sweet couple.

The luncheon ended with a 50/50 drawing and series of drawing for door prizes.  My friend, Bob Pollock won over $100 in the 50/50 drawing.

I left the seniors' potluck feeling humbled.

Morro Bay Harbor Festival

The rain didn't stop Morro Bayans and their visitors from enjoying the festival this past weekend.  There was some slight chaos when electricity was disrupted when the festival opened on Saturday, October 4, 2008. When electricity and the sun returned, the festival fell into full swing of entertainment, food, fun and lots of activity. 

There's something for everyone.  As is the tradition, a gigantic sand scuplture greets visitors at the South (main) entrance.  Adults and kids were treated to live performances by local high school bands, and other civic groups.  Families brought their children to check out the bay, visit the Coast Guard and simply bounce around in the play areas.

At the Seafood Pavilion and Wine Tasting, the bands strummed and courted patrons to linger and sample some of the finest tasties and great wine selections from 28 participating wineries.  The abalcore kebabs were my favorite. Many participated in the clam chowder tasting contest on Saturday, October 4, 2008, while others tasted and vied over which oysters were best on Sunday, October 5, 2008.

The wide range of products offered this year was also tempting.  Accessories, customized handmade mail boxes, handcarved wooden lounge chairs, special knits, leather bags, health products, hair products, clothing were a shortlist of the many offerings at this year's festival.

Many returned the next day, Sunday, October 5, a bright and beautiful day for the coast.  They continued to enjoy the festival to its end. 

If you plan to visit, the Morro Bay Harbor Festival is held annually during the first weekend of October.

A good service provider is hired!

I had locked the front door to the office one evening, when Clif Coimbra of Riptide Alchemy showed up. He was leaving a flyer for our office. I opened the door and spoke to him. It turned out that he specialized in hot tubs and spas and pools, and in servicing older models.

It so happened I had an older hot tub that needed to be checked and serviced.  The hot tub came with the house. It had been six years since anyone had looked at it.  Clif was really nice and patient with my questions. He came over to my place firstly to check it, and could not locate a older fuse. On his own accord, he visited the nearest hardware store to locate the fuse but they did not have it. Then he called to ask me. I had no idea of what he was talking about. I asked my husband who had kept the fuse away for a day like this.  Clif had said that he would be willing to check out another store if we could not find it.  It took me a week to find the fuse. By that weekend, Clif had to leave town to attend to business and could not return for another week.  He took the trouble to call me to let me know. When he did return a week later, he came by immediately, installed the fuse that we found, and checked and reported to me that my hot tub was in working condition.  He did all of that without charging me a penny.

Naturally, I was impressed with Clif's level of attention and follow-up. For his efforts, I decided to engage his services to maintain my new-found hot tub. Please know Clif also offered to teach me how to maintain my hot tub.  He would be happy to furnish any supplies or tell me where to get them.   I appreciated Clif's attentiveness to detail.

Clif returned again.  He cleaned, established the PH balance and brought the temperature to speed for me to use that very evening.  I had since used the hot tub almost every other day to relax my neck and tense muscles and painful right shoulder. I wondered why I had not bothered to get someone to look at the hot tub sooner. 

Things do happen for a reason. For me, I may be waiting for the right service provider.  Clif is also a reminder to me that we, as agents, need to accord the same level of attention and follow-up to our clients in our line of work.  We would be hired too, if we have Clif's dedication.

If you are looking for a hot tub or pool service provider, I would recommend that you call Clif, 1-866-398-2242, or visit his website, www.riptidealchemy.com

A day at the Cayucos Farmer's Market

It's been some time since I visited the Cayucos Farmers' Market.  Each Friday morning (till noon) from May to September, the huge parking lot by the Cayuos Vets' Hall would be taken over by vendors from all over the county.  They would be there to tout their fresh produce - lovely greens, roots, custom dressings, fruits and more fruits and not-to-miss goodies to residents and visitors in Cayucos.

The setting was lovely - you could hear the ocean, and look south beyond the pier towards the Morro Rock in Morro Bay.  The weather was beautiful too, this morning.  There's however something wrong with the picture this morning. There were only eight vendors, and not enough patrons. Golly, there were probably more seagulls around.  Is this the sign of the times?

Notwithstanding the selection, I found some tasty treats.  The avocado-cilantro hummus dip was yummy.  I eyed the box of baklava.  The young man told me I could have the big box for $10. I bought it. I'm afraid I gobbled them all by the evening, that is, except for a few that I shared with my neighbor and left two for the rest of my family. (Yeah, I have a weakness for some sweets!)

Next I visited one of the fruit vendors.  The lovely couple, Dana and Brian were from San Miguel.  They were showcasing the cabernet champagne grapes from their vineyard, and two great selection of Japanese and Korean pears.  The samples were sweet. I bought two bags of the Japanese and Korean pears. I couldn't resist the sweet Granny Smith apples either.

It's always fun to check what's availabe locally, and be out on a sunny day by the beach. I am looking forward to their return next summer.

Schools in San Luis Obispo County Received Strong Scores on the State’s Academic Performance Index (API)

The 2008 results are in.  Overall; majority of the schools showed improvement in their API test scores when compared to a year ago.  Most schools exceeded the 800 mark; which is considered high.  Two schools, Bellevue-Santa Fe Charter School and Teach Elementary API The 2008 results are in.  Overall; majority of the schools showed improvement in their API test scores when compared to a year ago.  While most schools exceeded the 800 mark, which is high, Bellevue-Santa Fe Charter School and Teach Elementary API scores surpassed the 900 mark. The Index and 'yearly progress reports' are based on information from the state's standardized testing and results of high school exit exams.

Out of the 82 schools, only 11 are in the ‘program improvement status’. These schools are required to offer more services such as tutoring, and teacher training.  Subgroups are students classified by their ethnicity and disability, and whether English is their second language or whether students are socio-economically disadvantaged.

For more information, check the chart below for your child’s or favorite school’s score:-