With the implementation of the Home Energy Rating System in California (HERS) starting this next year, home buyers and especially home sellers need to become quickly familiar with its provisions. This is the first of many posts I will do regarding this somewhat controversial, but important, new point of sale requirement.
HERS basically requires the home seller do have several water and energy saving features installed in your home prior to the close of escrow. Starting next year with water saving device, i.e. low flow shower heads, to a full energy audit in future years, these requirements will affect all buying and selling a home here in California. Stay tuned.
- A survey by Fannie Mae found that the cost of heating, cooling, and hot water for a home is the highest cost of homeownership outside the mortgage loan. When home shopping, it is possible to compare the energy efficiency of homes by looking at its Home Energy Rating System (HERS) score.
- More than 1.1 million homes now carry a HERS score, which is gaining acceptance as a standard among government agencies, utilities, mortgage lenders, and home buyers. In 2012, 40 percent of all new homes sold in the U.S. were issued HERS scores.
- The CALIFORNIA ASSOCIATION OF REALTORS® offers the C.A.R. REALTOR® Energy Audit Program (R.E.A.P.), which provides up to a $250 rebate on a HERS home energy audit conducted by a certified HERS rater.
- To qualify for R.E.A.P., applicants must: Purchase a home between Oct. 1, 2010, and Dec. 31, 2013; conduct a HERS home energy audit of the home before the close of escrow or no later than 60 days after the close of escrow; use a California REALTOR® in the transaction (referrals do not qualify); purchase a primary single family residence in California; and review and download the application (application must be submitted by an active California REALTOR®).
- For more information, visit http://www.car.org/members/haf/reap/.
If I can help you find the perfect Napa Valley property, please contact me