With the recent surge in real estate sales and new home starts the “bubble” talk is inevitable and likely to be an ongoing debate in the media. However, most economists on the subject appear to agree factors driving the home sales increases are different than those that drove the economy to the great recession. This boom is being led by investment companies rather than “flippers” on the investor side, and real homeowners looking to buy who have been on the sidelines waiting for the economy and housing market to improve. In either case, buyers are still looking for a good value and homes with better energy efficiency will continue to be popular to investors and primary owners.
Now is the time to act for anyone interested in making a home purchase, selling their property, or upgrading a primary home. Housing prices have clearly bottomed out and are now rebounding. Searches on the worlds most popular search engine Google provide real trends behind the headlines. More buyers are searching the web for homes to buy as the searches for apartments to rent have leveled off. It’s a good bet that moving forward homes offering greater energy efficiencies will be in demand as heating and cooling cost continues to rise.
There are several million houses that were allowed to languish and deteriorate during the crash. Many are still in the shadows as they wind through the slow bank foreclosure process. As these and other older homes get purchased by new owners they need to be updated and that will often include adding, upgrading or replacing insulation. Few if any home energy improvements offer the immediate savings and quick return on investment as upgrading insulation, and insulation can also boost the resale value of a home.
For existing homeowners looking to upgrade their insulation, the increasing real estate prices may mean a return or increase in equity. Banks are now beginning to offer home equity loan programs again and making energy improvements is an excellent reason to reinvest in a home. Improvements to a primary home also once again qualify for federal tax credits and there are many state and local incentives available, which can be found on the Department of Energy DSIRE website.
Cellulose insulation is the optimal product for retrofitting insulation in older homes. It can be blown into walls in most cases without the need for costly demolition. The product is also excellent in new construction for those building a home and looking for better energy saving and Eco-friendly building materials to differentiate their new homes over older existing properties. Cellulose insulation is a true green building material with up to 85% recycled content and low embodied energy. With green building now a mainstay in construction trends, adding cellulose insulation can add even more marketable value to a home.
So whether you are thinking of buying, selling or upgrading a home now is a good time to act while the market is rebounding.