GREEN REALTOR NEWS | Vol. 33
Photo Contest | Market Update | Be Part of the Climate Solution | A New Year’s Wish
Another easy one! This photo, as many of you know, is of Lighthouse Café in Sausalito. Lighthouse is a very popular breakfast spot that does not take reservations. Instead they say: “Come on over, get a cup of coffee, and chat with everybody else until a table is available.” Seems like a great way to start 2024!
Market Update
The year is wrapping up on a high note, at least for a bumpy real estate market. The year-over-year median sales price for single family homes is up by 2% in San Francisco and 4.2% in Marin, breaking a trend that has persisted since July 2022. This can primarily be attributed to the comparatively low inventory in the market which in 2023 was 41% lower than the previous year, leading to a competitive market for buyers that held prices relatively steady despite the highest mortgage rates in the last 23 years. Rates appear to have peaked in October. As of mid-December interest rates had fallen for 5 consecutive weeks and seem as though they will continue to do so into the new year. San Francisco condo prices are unchanged from November 2022 - November 2023, but the number of transactions is up 19.3%. The previously static condo market seems to be changing, which is good news for sellers. Click the buttons below for the full market reports.
Clean Energy A Bright Spot in the Hottest Year on Record
Despite 2023 being the hottest year ever recorded, there are some bright spots to bring us hope on the climate front. While more needs to be done to reach global goals of net-zero carbon emissions by 2050, the growth of solar power, storage batteries and heat pumps made significant gains in 2023. Sonia Aggarwal, the CEO of the think tank Energy Innovation and a former climate adviser to the Biden administration, acknowledges there were plenty of reasons to be pessimistic in light of rising temperatures. But she thinks progress in the clean energy economy around the globe and across sectors was so great that she leans toward optimism. “Just going sector by sector on the numbers, it’s a pretty compelling story,” she said. “We’ve hit the accelerator on the clean energy path.”
How Can You Be Part of the Solution?
Energy-efficient home upgrades can help solve the climate crisis, make your home more comfortable and healthy, and increase your home’s value, but they can be costly up front. Thanks to the Inflation Reduction Act of 2022, there are more ways to save on home improvements than ever before. Energy efficiency tax credits, which reduce your total annual tax liability, are already available, as well as certain existing rebates. Plus, over $8 billion in upfront rebates will be rolling out from participating states and utilities in the next 12 to 24 months. Click on the button below for the handbook on Everything You Need to Know about Home Energy Rebates and Tax Credits from the Pearl Certification Network. You can also check out the handy IRA Rebates Calculator which includes a deep dive into rebates and credits specific to particular appliances and systems. It’s easy and fun. Check it out!
I’ve loved hearing from my clients this year about their green home upgrades! From EVs, to solar panels, to fire hardening systems acquired for free through county rebate programs, so many of you are out there making your lives and homes better AND doing your part for the climate. Keep the stories coming!
A New Year’s Wish
Instead of our usual photo contest, I want to give you all this wish for 2024. I am so grateful and lucky to know you all. You bring tremendous richness to my world.
I hope 2024 brings you all you desire.
I hope you enjoyed the Green Realtor News! If you know anyone buying or selling, or if you are curious to hear more about the market, please don’t hesitate to reach out. I’d love to help you or your friends make moves. As one of my happy clients loves to say:
Everyone Needs A Lucinda!
