Jordan  Ayan, Luxury Market Expert, CLHMS,Million Dollar Guild (The Lifestyle Collection)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I haven't encountered that, Jordan. We have very few homes with solar power here in the Charlotte area. 

I'm sure there is someone here who can help though!

Oct 07, 2018 01:17 PM
Rainer
482,447
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Hi Jordan Ayan
In our area there are a growing number of homes with solar panels - many in senior communities. This is an ever evolving market and one needs to investigate the specific home seller's situation and agreements. While they are attractive to the homeowner, they are often viewed negatively by buyers due to age or ability for the buyer to qualify to take over a lease (which can take time and affects their debt to income ratio related to their mortgage application).

Of course, if the buyers don't want solar panels, it's a non-starter...

Hope this helps at least a little,
Bruce

Oct 07, 2018 02:58 PM
Rainmaker
4,209,388
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No experience. Not dome in the aresa I have serviced. Solar was predominantly used to heat pools!

Oct 07, 2018 02:57 PM
Rainmaker
1,899,349
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Solar is so extremely rare here Jordan Ayan I doubt that of the 50,000 residences here we have a dozen homes with a solar panel on them. 

Oct 07, 2018 01:49 PM
Rainmaker
2,062,534
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Not in our area.

Oct 07, 2018 01:32 PM
Rainmaker
1,596,606
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Same here, no solar in condos

Oct 07, 2018 12:17 PM
Rainmaker
5,571,896
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we have not had to deal with that in our area.... solar panels are not a big seller here, YET.... eventually, POSSIBLY.... 

Oct 07, 2018 12:11 PM
Rainmaker
1,736,218
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Perhaps Jan Green can weigh in on this subject. 

Oct 07, 2018 04:53 PM
Rainmaker
563,429
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

I have no experience with this 

Oct 07, 2018 02:10 PM
Rainmaker
6,606,578
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Not enough experience to offer a good answer.

Oct 07, 2018 12:08 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not encountered that in CA.  I have dealt with many homes that have leased solar ... it does not impact the value if the home. Appraisers don't give solar panels any value to the appraised value of a home.

Oct 08, 2018 08:24 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

On my places with solar we are off the grid, the power company tried too many sneaky tricks and my response was to cut the cord and tell them to go away.

Oct 07, 2018 07:21 PM
Rainmaker
849,960
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I would ignore it, and just focus on the homes value.

Oct 07, 2018 05:20 PM
Rainmaker
4,042,729
Richard Weeks
Dallas, TX
REALTOR®, Broker

Nothiing we deal with in our area.

Oct 07, 2018 05:01 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This is a good question in considering solar

Oct 07, 2018 05:00 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

If it is very new say 2-3 years old the appraiser can adjust 1/3 of actual cost like $5K.  With the solar leased system there is no adjustment. 

The reason is the owner actually took the tax credit first year. Most new homes have solar already so this is not going worth more so far as valuation with newer homes goes. In Northern CA it takes ~3 years to break even a $15-20K cost of owning solar system.  Consumers want the seller to pay for it but will be unwilling to pay much for a used unit same as a used car.

Oct 07, 2018 04:30 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Very few properties in western PA have solar power at this time so I can't offer any advice.

Oct 07, 2018 03:23 PM
Rainmaker
1,722,955
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Didn't you ask this already?

Oct 07, 2018 02:05 PM
Rainmaker
5,586,657
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jordan,

This may be a case to consult with a CPA.  A

Oct 07, 2018 01:47 PM
Rainmaker
1,044,339
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

We don't run into to many solar powered homes in Northern Virginia a few homes will have solar panels to assist with hot water but its very rare here

Oct 13, 2018 03:25 PM
Rainmaker
1,083,186
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Net metering is not the be all end all of value for solar panels.  First, if the solar panels are leased, there is no value, even if net metering - selling back to the grid exists.  

 

If the solar system is owned, then you have value in the system.  There are several components involved in gaining value on an appraisal and when determining value in the list price.  I highly recommend taking the Solar course provided by Elevate Energy to learn how to value solar systems: 

https://www.elevateenergy.org/selling-the-sun-now-live/

There are several pieces of information needed in order to gain value:  Date of installation; price paid; type of panels; azimuth; and you'll need before and after utility bills to show energy savings.  An appraiser would either use the market value approach or the income approach depending on the energy savings.  

An appraiser would input all the data into this site:  pvvalue.com. 

Feel free to visit that site. 

 

To find an appraiser in your state that is educated on valuing solar panels, visit appraisalinstitute.org.  I see you're in Scottsdale.  Here's the list in Arizona: 

 https://www.myappraisalinstitute.org/findappraiser/green_sustainability_residential.aspx?_ga=2.86033818.348734554.1539012639-1779673662.1538424329

 

Once under contract, you call the lender to find out if they have a green qualified appraiser on their list. If they don't, send them the above list.  This is how it's taught by Appraisal Institute. 

 

Come to my class 12/3 at SAAR and I'll relay all of this, giving you tips and tricks. It's a speaker panel with a lender, appraiser, energy auditor and me.  3 hours Disclosure

Oct 08, 2018 08:35 AM
Rainmaker
4,099,168
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Like versus like? No clue.

Oct 07, 2018 06:33 PM
Rainmaker
872,909
Nancy Frimann
Eagle Ridge Realty/Signature Homes & Estates - Gilroy, CA

I don't as I've talked to appraisers and they don't give it any value, nor do most lenders.  

Oct 08, 2018 07:20 PM
Rainmaker
4,938,568
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We are seeing more and more solar panels, and have spoken to appraisers, and they say, they give NO VALUE to a home.

Oct 11, 2018 07:24 AM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Most cases, it is lease and buyer need to take over lease.

Oct 10, 2018 07:53 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Great question but I have no idea

Oct 09, 2018 08:42 PM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea.

Oct 08, 2018 04:12 PM
Rainmaker
556,608
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

This is a great question and I have no idea what the answer is.

Oct 08, 2018 03:38 PM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't know if we still or ever did have this in CA.  Sorry, doing my first sale of a home with solar now.

Oct 08, 2018 10:34 AM
Rainmaker
2,023,900
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Hopefully not an eyesore 

Oct 08, 2018 06:13 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have not run into this.

Oct 08, 2018 05:51 AM
Rainmaker
3,331,511
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It may not be Arizona, but here in NH we have seen Solar boosted 1000%. II just listed a home with solar, and it actually made it harder. Some were afraid of the cost when it came to upgrade batteries on an owned unit. On the one before that it was a leased solar aray. The company gets the eclectic produced and the home owner pays the same rate year round which can start off about half of what their bill is, but rates increase over the lease time. 

Oct 08, 2018 05:44 AM
Rainmaker
888,897
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Start with the balance sheet. How much money does this arrangement create for the owner?

Is that amount worthwhile taking into consideration any cosmetic costs that exist.

Include the benefit as a value JUST LIKE a brand new kitchen.

Let's say this same property had a detached structure that could or has been converted and able to be rented as a vacation cottage. How would that benefit be presented if most potential buyers really only want a shop or place to stash the John Deer?

WARNING: If your marketing is too focused on vanity metrics or surrogate endpoints, the suspicion that arises will prove counterproductive. Don't try to pump value into something that has little value.

HINT: Focus your value added efforts on those crazies with the coexist bumper stickers.

Oct 08, 2018 04:57 AM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sorry, but have never sold a house withsolar power.

Oct 07, 2018 11:12 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Talquin Electric (here in northwest Florida) has  buy back policy for people who generate extra solar power; but I have not dealt with it.  You might want to visit their website.

Oct 07, 2018 11:09 PM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

No metering in CA at the moment, but solar is mandatory for all new constrictions. 

Oct 07, 2018 10:01 PM
Rainmaker
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Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Hi Jordan. I sold a few homes in Phoenix Scottsdale in the last 2 years with elaborate solar systems. In none of the transactions that metering of any sort come into play whatsoever. All those solar systems were owned and not leased - just to add as a comment. And btw, had no effect on the market value of the property.

Oct 07, 2018 08:39 PM