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CFPB Proposes New Consumer Protections for Homeowners Seeking Clean Energy Financing
Proposed rule would guard against unscrupulous practices and prevent unnecessary mortgage foreclosures WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) proposed a rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower's home, are often promoted as a way to finance clean energy improvements such as solar panels. The proposed rule would require lenders to assess a borrower's ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. The CFPB also published a report on residential PACE loans, which found that the loans cause an increase in borrowers falling behind on their mortgage payments, along with other negative credit outcomes. "When unscrupulous companies bait homeowners into unaffordable loans with exaggerated promises of energy bill savings, this can lead to serious financial distress," said CFPB Director Rohit Chopra. "We are proposing new rules that would require sensible safeguards on these clean energy loans." Residential PACE loans finance home improvements for borrowers, who pay back the loans through increased property tax payments over time. Eligible upgrades can include energy and water efficiency projects, or projects to prepare homes for natural disasters. From 2014-2020, a majority of PACE loans were for home improvements for natural disaster preparedness. The obligation of paying the loan back through higher property tax payments remains with the property even if the borrower sells the property. Although PACE lending is authorized by local governments, private companies typically administer the programs, which can include marketing of the loans, managing originations, and making the lending decisions. In October 2022, the FTC and State of California sued one of these private PACE administrators, Ygrene Energy Fund Inc., to force it to stop deceptive, coercive, and fraudulent sales practices. Today's proposed rule comes five years after President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, which directed the CFPB to prescribe ability-to-repay rules for PACE financing and to apply the civil liability provisions of the Truth in Lending Act for violations. If finalized, the proposed rule would require PACE creditors and PACE companies to consider a consumer's ability to repay when issuing a new PACE loan, and it would amend Regulation Z to address how the Truth in Lending Act applies to PACE transactions. Among other amendments, the proposed rule would adjust disclosure requirements to better fit PACE loans and to help consumers understand the loans' impact on their property tax payments. Public comments on the proposal are due by July 26, 2023, or 30 days after publication in the Federal Register, whichever is later. Read the proposed rule. PACE Financing Report The new CFPB report on the PACE loans highlights the impact these loans have on borrowers' credit outcomes. The report focused on California and Florida as these are the two states where almost all PACE loan activity has occurred to date. Some of the risks to consumers identified in the report include: Higher property taxes: PACE loans increased a homeowner's property taxes by about $2,700 per year on average – an increase of about 88%. Higher interest rates: The average PACE loan had a 7.6% interest rate, which is much higher than average interest rates for home purchase or home equity loans. Increased mortgage delinquencies: In the two years following PACE loan origination, the mortgage delinquency rate for PACE loan borrowers with a pre-existing mortgage increased by 2.5 percentage points. Increased credit card balances: Consumers without a pre-existing mortgage increased their credit card balances in response to acquiring a PACE loan, perhaps accumulating credit card debt in order to make the PACE loan payments. PACE borrowers were more likely to reside in census tracts with higher percentages of Black and Hispanic residents relative to the average for their states. Reforms and regulation of PACE loans in California appear to have substantially reduced the volume of delinquencies compared to the trend in Florida over the same period. Read today's report, Property Assessed Clean Energy (PACE) Financing and Consumer Financial Outcomes Implementing Rules Mandated by Congress The CFPB is taking action to implement statutes and activate authorities enacted by Congress. Recent actions include: The CFPB recently met a court deadline to finalize rules implementing a required small business lending data collection provision under Section 1071 of the Consumer Financial Protection Act. The CFPB has also started a rulemaking process on personal financial data rights, using a dormant authority under Section 1033 of the Consumer Financial Protection Act that will accelerate the shift to "open banking" in the United States. In June 2022, the CFPB finalized a rule implementing the Debt Bondage Repair Act to mitigate financial consequences for survivors of human trafficking. In February 2022, the CFPB published its outline of a proposal to implement a 2010 law to prevent algorithmic bias in home valuations, and is working closely with other agencies to issue the proposed rule. Consumers can submit complaints about financial products and services by visiting the CFPB's website or by calling (855) 411-CFPB (2372). The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.
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NAR to Plant 215,000 Trees in Idaho National Forests, Capturing CO2 Emissions Equivalent to More Than 12 Million Gallons of Gasoline Consumed
BOISE, ID (April 14, 2023) – The National Association of Realtors®, in partnership with the National Forest Foundation, will plant 215,000 trees in national forests throughout Idaho this year. This action will capture 107,500 metric tons of carbon dioxide emissions over their lifetime – the equivalent to the CO2 emissions released from: Nearly 21,000 homes' electricity use for one year (20,917), More than 23,000 gasoline-powered passenger vehicles driven for one year (23,163), Nearly 12.1 million gallons of gasoline consumed (12,096,320), More than 13 billion smartphones charged (13,076,584,477) or More than 266 million miles driven by an average gasoline-powered passenger vehicle (266,837,098).(Source: The U.S. Environmental Protection Agency Greenhouse Gas Equivalencies Calculator) "We are proud of our work at the intersection of the built and natural environments," said Tracy Kasper 2023 National Association of Realtors® President-elect and a Realtor® from Nampa, Idaho. "Sustainability is directly relevant to what agents and Realtors® do, and we aim to lead by example – determining how to enjoy resources today and ensure that future generations have the same advantages." NAR will make this announcement during its sustainability symposium – "NAR Community and Stewardship: Boise, Idaho" – in Boise on Friday afternoon. The planted trees will support reforestation efforts in the Boise and Nez Perce-Clearwater National Forests to bolster recovery from the 2016 Pioneer Fire and the 2021 Johnson Creek Fire. This planting is part of NAR's partnership with NFF on a 1.575 million tree-planting initiative. "The National Forest Foundation is proud to partner with the NAR on their sustainability initiatives." said Mary Mitsos, President & CEO, National Forest Foundation. "Tree planting after wildfires is more important than ever. These 215,000 trees are a crucial step to not only restoring our public lands, but to providing cleaner air and beautiful outdoor spaces for future generations to enjoy. With NAR's support, and our joint commitment to sustainability and growth, we look forward to a brighter, greener future." The symposium will include two panel discussions. "Sustainability and the State of Idaho" will explore sustainability issues that impact Idaho and how they are being addressed. "Residential Resilience and Community Stewardship" will explore how local initiatives, policies and programs directly impact the development, purchase and sale of property. Attendees will hear from business and community leaders and real estate professionals regarding initiatives being developed in Idaho that will promote residential resilience and environmental stewardship. "The outdoor opportunities in Idaho are such a large draw to current residents and those moving to our area, including our miles of Boise River Greenbelt, our foothills and other natural resources," said Boise Regional REALTORS® 2023 President Debbi Myers. "Initiatives like NAR's will provide additional support for those spaces so our residents can continue to enjoy the great outdoors for generations to come." Idaho Governor Brad Little issued a proclamation for the tree planting, which will be presented at Friday's event. The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
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NAR Releases Its Inaugural ESG+R Sustainability Report
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ATTOM Expands Property Data and Analytics Footprint to Include Climate Change Risk Data
Access to Detailed Property Information and Climate Risk Ratings for Five Climate Change Hazards: Fire, Flood, Heat, Drought and Storm; Climate Change Data Solution for Today, Tomorrow and the Future IRVINE, Calif. - Nov. 17, 2021 -- ATTOM, curator of the nation's premier property database, today announced it has added a category of data to its ever-expanding ATTOM Table of Data Elements. The addition of ATTOM's climate change risk data offers a comprehensive, forward-looking risk assessment for every property nationwide. NEW Enhanced ATTOM Table of Data Elements "Our mission at ATTOM is to increase real estate transparency and fuel innovation. We continue to expand our data footprint to help our customers solve the additional challenges this housing market presents," said Todd Teta, chief product and technology officer at ATTOM. "With the addition of this new data product clients will be able to better mitigate risk, streamline decision making and gain deeper intelligence on the housing market." ATTOM's climate change risk solution includes ratings at the property level for five climate change hazards – wildfire, flood, heat, storm and drought. Each property is assessed with a 0-100 rating for each climate change risk listed above, and all ratings are compared to all properties nationwide. This risk assessment rating helps to determine a property's current and future risk of climate-change-related hazards, with projections going as far out as 2050 — a period within the lifespan of a 30-year mortgage signed today. "Understanding current and future climate change risk has become a very important data point for many of our customers in real estate, mortgage and insurance industries," says Sean Mooney, vice president of product at ATTOM. "So, it makes perfect sense for us to offer it as a new solution tied into our robust property database." Customers can use ATTOM's climate change risk solution to evaluate properties for investment decisions, assess risk for new product development, or to enrich a real estate portal with unique content. Additional use cases include: Determine a property's projected climate risk when insuring a home Identify risk exposure for reinsurance decisions Screen individual assets to avoid high risk assets Understand how climate change increases operating expenses ATTOM's climate change risk data will be updated quarterly and is available today for delivery via bulk files, with integration to ATTOM Cloud and API coming soon. ATTOM is your one-stop shop for nationwide premium property data with flexible delivery solutions. Our commitment to continuing to power innovation across various industries has earned top honors and accolades, including being named among MReport's Top 30 Companies to work for in 2020, T3 Sixty's Tech500 in 2020, and HousingWire's Tech100 for 2021. Our most recent corporate acquisitions, furthering expanding our data footprint, have not only demonstrated our focus on investing in data elements, but also our focus on investing in people elements, with the integration of numerous talented teams. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.
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A Third of Realtors Assisted Their Clients with Buying or Selling a Property that Had 'Green' Features in the Past Year
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The Green Building Registry Partners with RESNET to Provide HERS Data
PORTLAND, Ore., Dec. 15, 2020 -- Earth Advantage, Inc. and RESNET announced today a partnership to help deliver green and energy-efficient home data through the Green Building Registry (GBR). Historically, important information on a home such as energy ratings, third-party building certifications or renewable power production estimates (solar panels) has not made it into for-sale listings. Thousands of dollars of value could be lost because trustworthy data was not available for a listing agent and potential buyers to react to at the time of sale. That lack of data has also prevented appraisers and lending institutions from accounting for those market reactions. Since 2017, GBR has provided green home data to the public and real estate multiple listing services. The DaaS (Data as a Service) platform provides verified data directly from sources such as U.S. Department of Energy, Home Energy Scores, LEED® for Homes, National Green Building Services (NGBS), solar data, and other regional third-party verification programs throughout the country. Nationwide values for the HERS Index, a scoring system for home energy performance administered by RESNET, will now be included in GBR for the entire United States. Steve Baden, executive director of RESNET, stated, "A RESNET HERS Rating provides an invaluable tool for builders, consumers, real estate agents and appraisers in unlocking the value of energy-efficient homes. RESNET has been working with MLS systems across the nation to incorporate HERS Index Scores into their listings. Our collaboration with Earth Advantage will boost this effort by providing the GBR with the largest dataset of energy-efficient homes in the country." David Heslam, executive director at Earth Advantage, stated, "Data drives the modern economy. That's especially true for the real estate industry which provides the data for millions of home sales and mortgages every year. The HERS Index is in use across the country, especially on efficient new homes. Adding more than one million HER Index scores to the Green Building Registry will make that data easily available to MLS systems, agents, appraisers, and lenders." About GBR The Green Building Registry (GBR) was built and is maintained by the 501(c)(3) nonprofit Earth Advantage, Inc. GBR is a single-source solution for the public and real estate industry to facilitate auto population of verified green data into listings throughout the United States. Earth Advantage's mission is to accelerate the adoption of high-performance and sustainable, residential building practices. We focus on two key pathways for success: maintaining well-above-code standards for our own certifications and providing information to the public in the form of third-party data and professional training. Visit the GBR public website at us.greenbuildingregistry.com to learn more. For more information on Earth Advantage, visit earthadvantage.org. About RESNET The Residential Energy Services Network (RESNET) is the independent, national nonprofit organization that homeowners trust to improve home energy efficiency and realize substantial savings on their utility bills. RESNET's industry-leading standards are recognized by the housing industry, federal, state and local government agencies, among others. To date, over three million homes have been energy-rated and issued HERS Index Scores in the U.S. For more information, visit www.resnet.us. For more information, contact Meg Garabrant at 503.310.9138 x62 or email [email protected].
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NAR, NAHB Partner to Educate Consumers, Members on Home Performance, Sustainability
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NAR Wins 2019 Sustainability Award from Business Intelligence Group
CHICAGO (August 1, 2019) – The National Association of Realtors® was today recognized by the Business Intelligence Group as a global leader in sustainability promotion. The annual Sustainability Awards honor organizations that have made sustainability an integral part of their business practice, commending NAR for the work it's done since implementing an association-wide Sustainability Program in 2017. The program has catalyzed a surge of member interest and support, introducing corporate social responsibility and triple bottom line concepts for NAR's decision-making practices. "The National Association of Realtors® is honored and encouraged to earn a 2019 Sustainability award from the Business Intelligence Group," said NAR President John Smaby, a second generation Realtor® and broker at Edina Realty in Edina, Minnesota. "This award validates NAR's efforts over recent years to reduce our association's operational impact, establish strategic sustainability priorities and encourage our members to do the same, beginning with the development of our Sustainability Program in 2017." NAR has taken steps to fully engage its 1.3 million members on this increasingly relevant issue. Specifically, the association has worked at local, state, and national levels to adopt sustainability conversations and committees; it has hosted annual Sustainability Summits to continue the progress of sustainability initiatives around the real estate industry; and has adopted a set of 15 Sustainability Strategic Priorities to integrate throughout the association. "The role of sustainability is becoming more prevalent in most organizations, but these nominees have provided everyone with a leadership standard we can all model," said Business Intelligence Group Chief Nominations Officer Maria Jimenez when announcing the 2019 award winners. "We are so proud to reward and recognize all of our winners and finalists, as they provide the leadership and vision needed to protect our environment." The Sustainability Advisory Group's inaugural meeting was in May of 2018 and focused on coordinating and articulating NAR's sustainability efforts. In just six months, the group authored a set of 15 Sustainability Priorities for the organization, which achieved unanimous Leadership Team approval. "While the impact of these initiatives can already be felt amongst our membership and in communities across the country, NAR is committed to continue leading the industry in this direction," Smaby said. "We look forward to working to increase awareness about sustainability for Realtors® and highlighting the business opportunities for agents who better understand home performance, valuation and sustainable development." The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries. About Business Intelligence Group The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, business executives—those with experience and knowledge—judge the programs. The organization's proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.
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Homes with Close Proximity to Electric Vehicle Charging Stations List for 1.5 Times More
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Realtors Report Value in Promoting Green Features in Both Residential and Commercial Listings
WASHINGTON (April 19, 2019) - With Earth Day right around the corner, members of the National Association of Realtors® are doubling down on their commitment to promote environmentally friendly home features, adopt green business practices and encourage a culture of sustainability in real estate. With this in mind, NAR is releasing the REALTORS® and Sustainability 2019 Report, which found that consumer demand in real estate continues to trend eco-friendly. The report is in its third iteration and stems from NAR's Sustainability Program. It surveyed Realtors® about sustainability issues in the residential and commercial real estate markets and the preferences they are seeing in consumers in their communities. According to the report, 59% of respondents found that residential consumers were very or somewhat interested in sustainability. Seven in 10 residential and commercial agents and brokers reported that promoting energy efficiency in listings is either somewhat or very valuable. "The state of the environment is important to our members and their business practices, and the report shows that sustainability impacts consumers' home buying decisions as well," said NAR President John Smaby, a second-generation Realtor® from Edina, Minnesota and broker at Edina Realty. "Realtors® remain on the cutting edge of sustainability and continue to lead the conversation about energy efficiency in real estate." A large majority of respondents (83%) said that solar panels were available in their markets, and 36% said that solar panels increased the perceived property value. However, only 8% of those surveyed said that solar panels decreased the perceived amount of time a home spent on the market. Solar panels are most prevalent in Northeast (available in 94% of markets) and respondents in the West were the most likely to report they increase perceived property value (41%). Twenty-five percent of brokers indicated that tiny homes - homes that are 600 square feet or less - are available in their markets, a 2% increase from 2018. Only 13% of respondents said that wind farms were available in their markets. The transportation and commuting features that Realtors® stated are very or somewhat important to their clients include: easy access to highways (82%), short commute times and distance to work (81%) and walkability (51%) - the same as 2018. Forty-one percent of respondents were aware that their Multiple Listing Service, or MLS, has green data fields, compared to only 14% that were unaware. Among those that do have green data fields, 35% of respondents use them to promote green features, 26% use to promote energy information and 14% use to promote green certifications. Realtors® also revealed how comfortable they are answering questions about home performance and efficiency; 39% said they are comfortable or extremely comfortable. Forty percent of respondents say they are confident or extremely confident in their ability to connect clients with green lenders; only 6% responded that they are not at all confident. When asked what they consider as the top market issues and considerations regarding sustainability, agents and brokers named understanding lending options for energy upgrades or solar panels (38%), the lack of information and materials provided to real estate professionals (32%) and improving the energy efficiency of existing housing stock (31%). Respondents were also asked about sustainability in commercial real estate. Seventy percent of agents and brokers indicated that promoting energy efficiency in their commercial listings was very or somewhat valuable. Sixteen percent of respondents reported that their Commercial Information Exchange had green data fields and that those fields promote energy information and green features. The top building features that clients specified as very or somewhat important to their agents or brokers were utility/operation costs (81%), efficient use of lighting (67%) and indoor air quality (64%). NAR initiated the Sustainability Program as a platform for dialogue on sustainability for Realtors®, brokers, allied trade associations, and consumers. The program's efforts focus on coordination and articulation of NAR's existing sustainability resources, while also supporting a growing area of interest for consumers, helping members to assist home buyers and sellers. The REALTOR® Sustainability Program invited a sample of 112,035 active Realtors® to participate in an online survey pertaining to sustainability issues facing consumers and the industry, resulting in 6,047 usable responses. NAR plans to use this report to better benchmark Realtor® understanding of sustainability and create resources to help Realtors® better serve clients surrounding sustainability topics. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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Consumer Interest Trends Towards Sustainability, say Realtors
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It's Not Cheap Being Green, but Eco-Friendly Homes Do Not Always Cost More
SANTA CLARA, Calif., April 19, 2018 -- Homes with eco-friendly features do not always command a premium price tag in today's hot housing market, according to analysis from realtor.com®, a leading online real estate destination. In honor of Earth Day, realtor.com® analyzed current listings in the top 200 U.S. metros to determine the market availability of "green" homes with any of seven eco-friendly features, such as solar panels, smart thermostats or bamboo floors, and evaluated how much more – or less – these homes may cost a prospective homebuyer. "Although Southern and Western states still lead the way in green technology adoption, eco-friendly features have grown in popularity across many regions of the United States," said Javier Vivas, director of economic research for realtor.com®. "Many buyers have come to expect standard features, and homes integrating specialty green features are becoming more mainstream. However, in today's inventory-starved market, location still reigns supreme and the price of land can easily override the allure of special eco-friendly features." The "greenest" metro of them all Prospective homebuyers in the Fort Collins, Colo. metro area have the highest likelihood of finding a home with integrated "green" features, with 36 percent of its April 2018 listings noting at least one sustainable living feature. Following closely behind are the Dallas-Fort Worth-Arlington, Texas and San Jose/Sunnyvale/Santa Clara, Calif., metro areas at 35 percent of listings each. Although homes with eco-friendly features are four percent more expensive than the median home price in the Dallas metro area, there is essentially no price difference between "green" homes and the median home price in Fort Collins. Notably, homebuyers looking in Sunnyvale/San Jose/Santa Clara may find homes with sustainable living features for five percent less than the local median home price. Of the top 10 "green" metros, buyers in Tulsa, Okla., will pay the biggest premium – 19 percent – if buying a home with existing eco-friendly features is a priority. Those in Salinas, Calif., have the biggest price advantage, as "green" listings are 14 percent below the median home price. However, while three California metros show that "green" homes are less expensive relative to the median home price in their respective areas, keep in mind that the median home price in each metro is significantly higher than those in other states. Solar panels soak up the sun in California and Arizona California dominated seven of the top ten markets with the highest concentration of listings featuring solar panels, with the San Jose-Sunnyvale-Santa Clara, Calif., area leading the list at 6.1 percent of total listed homes. Salinas, Calif., and Arizona's Phoenix-Mesa-Scottsdale metro areas follow closely behind at 4.8 percent and 4.6 percent of total listings featuring solar panels, respectively. Good news for buyers who want integrated solar panels in their new home: every market aside from Prescott, Ariz., and Fresno, Calif., showed that prices of solar panel homes were the same or less than the median home price in each market. In Salinas, Calif., buyers save on average $233,850 on homes featuring solar panels when compared to the metro's median listing price of $917,050. However, in Prescott, Ariz., new homeowners will need to add $78,200 to the metro's median home price of $400,050. Programmable thermostats heat up home prices in Oklahoma, Alabama and Texas Homes featuring programmable thermostats will likely cost homebuyers more, adding up to 20 percent in Montgomery, Ala., 17 percent in Tulsa, Okla., 15 percent in the McAllen-Edinburg-Mission, Texas metro area, and 12 percent in the Oklahoma City metro area. The Tulsa metro area has the highest proportion of smart thermostat home listings at 31 percent, followed by San Antonio at 28 percent and Fort Collins, Colo. at 25 percent. Some of the price differences may be attributed to the fact that median home prices in these four metros are all below the national median price of $280,000, ranging from $176,944 for Montgomery, Ala., to $239,650 for Oklahoma City. ENERGY STAR-rated homes shine bright (and costly) in Connecticut Four Connecticut metros have the highest concentration of ENERGY STAR-rated* home listings currently on the market, but most homebuyers will need to pay between 21 to 26 percent more than the median home price per square foot. ENERGY STAR-rated homes make up four percent of current listings in each of Connecticut's Norwich-New London, Hartford, and New Haven-Milford metro areas, adding 26 percent, 21 percent and 24 percent more to the price per square foot, respectively. ENERGY STAR-rated homes in the Greensboro-High Point, N.C., metro, the fifth highest concentration market at 1 percent of total listings, will cost buyers 41 percent more per square foot. Of the top five metros, the only one that does not require a premium is the Bridgeport-Stamford-Norwalk metro area, where ENERGY STAR-rated homes account for slightly over 3 percent of active listings. While the median home price is the most expensive of the top five metros at $792,050, buyers can save $37,050 on average for a ENERGY STAR-rated home. Top Markets with Green Amenities Ranking of the top 200 largest U.S. metros with the highest percentage of active listings featuring at least one of seven "green" amenities in April 2018 Top Markets: Solar Ranking of the top 200 largest U.S. metros with the highest percentage of active listings featuring solar panels in April 2018 Top Markets: Programmable Thermostats Ranking of the top 200 largest U.S. metros with the highest percentage of active listings featuring programmable thermostats in April 2018 Top Markets: Energy Star-Rated Homes Ranking of the top 200 largest U.S. metros with the highest percentage of active listings featuring Energy Star-rated homes in April 2018 Methodology Realtor.com® looked at the active home listings in April 2018 to see which of the top 200 largest U.S. metro areas had the highest share of homes that included "green" features. To qualify for the list, the metro must have at least 30 listings that included the "green" feature. The eco-friendly features included for analysis are solar panels, bamboo flooring, smart thermostats, ENERGY STAR-rated homes, Seasonal Energy Efficiency Ratio (SEER) ventilation, dual pane windows and ENERGY STAR appliances. * ENERGY STAR  is a voluntary energy efficiency program managed by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE). New homes that earn the ENERGY STAR are at least 15 percent more efficient than those built to code. For more information: https://www.energystar.gov/about About realtor.com® Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Solar Power Pays Off in These 10 Midwestern Cities
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Majority of Realtors® Say Clients Interested in Sustainability
  WASHINGTON (April 6, 2017) — Growing consumer interest and demand for greener, more sustainable properties is driving a dialogue between Realtors® and homebuyers and sellers. Over half of Realtors® find that consumers have interest in real estate sustainability issues and practices, according to the National Association of Realtors®' recent REALTORS® and Sustainability report. The report, stemming from NAR's new Sustainability Program, surveyed Realtors® about sustainability issues facing consumers in the real estate market and ways Realtors® are setting their own goals to reduce energy usage. "As consumers' interest in sustainability grows, Realtors® understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to homebuyers," said NAR President William E. Brown, a Realtor® from Alamo, California and founder of Investment Properties. "The goal of the NAR Sustainability Program is to provide leadership and strategies on topics of sustainability to benefit members, consumers and communities." To meet growing consumer interest, more Multiple Listing Services are incorporating data entry fields to identify a property's green features; 43 percent of respondents report their MLS has green data fields, and only 19 percent do not. Realtors® see great value in promoting energy efficiency in listings with seven out of 10 feeling strongly about the benefits in promoting those features to clients. The survey asked respondents about renewable energy and its impact on the real estate market. A majority of agents and brokers (80 percent) said that solar panels are available in their market; forty-two percent said solar panels increased the perceived property value. Twenty-four percent of brokers said that tiny homes were available in their market, compared to 61 percent that reported tiny homes were not yet available. When asked about involvement with clients and green properties, 27 percent of agents and brokers were involved with 1 to 5 properties that had green features in the last 12 months. Seventy percent of members worked with no properties that had green features, leaving a great deal of room for future growth. The home features that Realtors® said clients consider as very or somewhat important include a home's efficient use of lighting (50 percent), a smart/connected home (40 percent), green community features such as bike lanes and green spaces (37 percent), landscaping for water conservation (32 percent), and renewable energy systems such as solar and geothermal (23 percent). When it comes to the sustainable neighborhood features for which clients are looking, 60 percent of Realtors® listed parks and outdoor recreation, 37 percent listed access to local food and nine percent listed recycling. The transportation and commuting features of a community that Realtors® listed as very or somewhat important to their clients included walkability (51 percent), public transportation (31 percent) and bike lanes/paths (39 percent). NAR initiated the Sustainability Program as a platform for dialogue on sustainability for Realtors®, brokers, allied trade associations, and consumers. The program's efforts focus on coordination and articulation of NAR's existing sustainability resources, while also supporting a growing area of interest for consumers, helping members to assist home buyers and sellers. To further position NAR as a leader in real estate sustainability topics with consumers, Realtors®, brokers and allied trade associations, the REALTOR® Sustainability Program surveyed Realtors® pertaining to sustainability issues facing consumers and the industry. NAR plans to use this report to better benchmark Realtor® understanding of sustainability. The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing over 1.2 million members involved in all aspects of the residential and commercial real estate industries.
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Solar Power is an Untapped Resource in These 10 Cities
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MRIS Joins Home Energy Information Accelerator and Commits to Expand Energy Efficiency in the Mid-Atlantic Region
May 28, 2015 -- Today the Energy Department announced two new Better Buildings Accelerators, which will convene leaders to focus on key solutions to expanding energy efficiency in the residential sector. Partners will focus on expanding awareness of homes' energy efficiency and streamlining the processes used to help consumers improve the efficiency of their homes. MRIS has joined the Home Energy Information Accelerator and is committed to reflecting the most accurate energy efficient attributes of residential properties in the Mid-Atlantic region. The Better Buildings Home Energy Information Accelerator supports the President's Climate Action Plan with a goal to accelerate investment in home energy efficiency improvement projects across the country. Today, 32 partners were welcomed by the Energy Department for their commitments to advance home energy efficiency across the country. The Home Energy Information Accelerator brings together leaders in real estate and energy efficiency to expand the availability and use of reliable home energy information at relevant points in residential real estate transactions. Accelerator partners will develop and demonstrate replicable, sustainable approaches that make energy-related information—such as a home's efficiency certification or its estimated energy usage – easily available through multiple listing services and other reports. "Mid-Atlantic residents are environmentally conscious and want their homes to reflect this," said Jonathan Hill, Vice President of Marketing and Communications at MRIS. "We want to make it easier for real estate professionals to help sellers promote the green features in their listings and to help buyers identify these homes which are more energy efficient and eco-friendly." To better inform consumers regarding a property's energy efficiency, MRIS, the industry-leading Mid-Atlantic Multiple Listing Service (MLS) that facilitates nearly $125 million a day in real estate transactions, is adding 14 new MLS high performance home (HPH) fields including ENERGY STAR Cooling and Heating Systems, LEED for Homes certification, and HERS index scores (Home Energy Rating System). This will allow real estate professionals to better identify HPH features and certifications so that potential buyers can make more informed purchasing decisions. "By improving the efficiency of buildings across the country, Better Buildings partners are saving money by saving energy, creating more sustainable communities, and helping to protect future generations from the impacts of climate change," said Under Secretary for Science and Energy Franklin Orr. "Expanding the program to include water savings and the residential sector means that American families can be a part of this successful partnership that cuts costs and pollution." Better Buildings Accelerators convene leaders across sectors and building types to address persistent barriers that stand in the way of greater energy efficiency. As Better Buildings Home Energy Information Accelerator partners share their successes with the market, resources will be posted in the Better Buildings Residential Program Solution Center. The Solution Center is an online tool designed to help organizations explore the solutions tested and proven by partners. As a cornerstone of the President's Climate Action Plan, Better Buildings aims to make commercial, public, industrial, and residential buildings 20% more energy efficient over the next decade. This means saving hundreds of billions of dollars on energy bills, reducing GHG emissions, and creating thousands of jobs. Through Better Buildings, public and private sector organizations across the country are working together to share and replicate positive gains in energy efficiency. For a detailed progress report on the Better Buildings Initiative, and for more information on how to join these partners and advance your own energy efficiency work, visit: http://betterbuildingssolutioncenter.energy.gov. ABOUT MRIS MRIS is a leading provider of real estate information technology and one of the nation's leading multiple listing services (MLS), facilitating over $45 billion in system wide sales in 2014. The company supports over 45,000 real estate professionals in the Mid-Atlantic region, including Maryland, Northern Virginia, Washington, D.C. and parts of Pennsylvania, Delaware and West Virginia. MRIS provides its customers with a portfolio of best-in-class desktop, mobile and cloud-based technologies to improve the real estate transaction process for both real estate professionals and homebuyers and sellers. For more information, please visit MRIS.com or MRIShomes.com to search for thousands of available homes in the Mid-Atlantic region.
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New NAR Guide Helps MLSs Highlight Green Homes and Features
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Authentisign Speeds Real Estate Transactions
Guest Contributor Kay Pratt of RE/MAX sends us a great testimonial about Authentisign offered by Instanet Solutions.  Kay says: I have been using Authentisign for over two years now to speed the processing of real estate transactions for my clients. As most everyone knows, real estate transactions require a TON of paperwork. There are offers to sign, along with counteroffers, addendums, treatments, repairs and replacements (TRR) documents, contract extensions, etc. And this is all BEFORE the closing occurs. In the past the fax machine was our best friend. I would constantly be faxing documents for clients to sign, picked up and transferring signed documents, and trying to keep track which document was the latest version. The entire process was very inefficient and was especially problematic when clients were out of town or worse yet, traveling for work. If clients were in Edmond the process wasn’t bad, and even in the Oklahoma City metro area it was workable, but if a client was moving from California and buying a house in Oklahoma, the process was very cumbersome. Clients would have to find a fax machine, which can be challenging on weekends or late at night, print the document, sign it, then fax it back to me. I would have to sign it, scan it, then email it to the other Realtor. The entire process was challenging at best. All of my real estate documents are kept in a program called Transaction Desk, and I could quickly create a document there and send it to Authentisign for digital signatures. In Authentisign I set up the emails of my clients and anyone else who may need to sign a document, load the document, and then send it for digital signature. Authentisign then sends an email to my client with a link to a signature page. They create a login and Authentisign handles the digital signature and ensures everything is secure, encrypted and legal for use in Oklahoma. This has significantly sped up the signing of documents, especially for distant or traveling clients. My clients LOVE the process since it is so much faster and more efficient than tracking down a fax machine. All the documents are kept in Transaction Desk so we can pull them up at any time, send them via email or fax, or just save and/or print them if needed. And since real estate transactions are time sensitive, this makes sure we meet our deadlines and don’t default on a contract offer." To View The Original Blog Post Click Here! To Learn More About Authentisign and Instanet Solutions Please Click Here!
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DotLoop Introduces New Edition to Make Its Collaborative Workspace a Revenue Stream for REALTOR® Associations
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DotLoop Powers 23 New Michigan Real Estate Offices to Meet the Demand of Today’s Buyer and Seller
The move towards completely electronic real estate transactions is quickly becoming the norm throughout the industry. Recently, Michigan agents joined a growing number of real estate professionals across the country as 23 offices began using DotLoop in the month of April to complete deals electronically and increase efficiency. In response to the growing presence of mobile technology among consumers, REALTORS® use DotLoop to leverage technology, meeting a growing demand to buy and sell homes online. For years, real estate agents and brokers advertised listings online, yet failed to employ closing or transaction functions in the same online space. According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, the share of buyers who searched "frequently" online for their home rose to 89 percent in 2010. DotLoop delivers that solution for real estate agents and the home buyers they serve. Using what's known as a "collaborative workspace," agents share and adjust documents with clients in real-time, anywhere they have Internet access. When all negotiations are complete, electronic signatures are used to finalize the contracts quickly and securely. Agents across the country using the "collaborative workspace" are completing deals quicker and easier than before. "This will set us apart from other agents in how easy it is to make offers on our listings," said Darne Ridgley, REALTOR® with Keller Williams. "The client view will be easy to explain and the co-op agents will not have any trouble viewing it either." While transactions may only be initiated by DotLoop authorized agents, it's available to the cooperative agent receiving the initiation for free. This open source engagement with other agents allows transactions to maintain transparency and simplicity with the home buyer's and seller's interests in mind. Jim Bowling of RE/MAX Preferred Group of Southern Ohio said, "Depending how you look at it, it could mean the difference of getting a signature at 1 p.m. or 5 p.m. once my client gets off work. My clients sign contracts at work, in seconds." DotLoop helps an agent overcome the inefficiencies of the traditional real estate process and meet the demands of today's home buyers and sellers. By leveraging technology, both agents and their brokers position themselves for future success. Agents across the country continue to adopt DotLoop's collaborative workspace with nearly 10,000 new users added every month. In the midst of a national expansion, DotLoop continues to simplify the home buying and selling process for agents and clients in New York, Ohio, Florida and more to come over the next year. About DotLoop Headquartered in Cincinnati, Ohio, DotLoop is transforming the real estate industry by providing a collaborative workspace where any real estate agent can share and sign transaction documents. As the leading provider of collaborative negotiation services, DotLoop is available to service all real estate professionals throughout the United States and Canada. The innovative DotLoop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve, and sign documents digitally – addressing the challenges of security, efficiency, and overhead costs in today's real estate industry. Learn more about DotLoop.  
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Earth Day 2011: Doing Business Online Reduces Environmental Scourge
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Kodak Reports Significant Progress on Sustainability Goals
ROCHESTER, NY, April 18 — Eastman Kodak Company (NYSE:EK) today reported that it has reduced greenhouse gas (GHG) emissions by 49%, closing in on its goal for a 50% reduction by the end of 2012 under its current set of Sustainability Goals. Since the baseline year of 2002, Kodak has achieved a GHG reduction of more than 1.5 million tons, the equivalent of taking 350,000 cars off the road. Additionally, Kodak demonstrated its commitment to energy efficiency by continuing to deliver ENERGY STAR® qualified products. Since 2009, 96% of all eligible Kodak products have qualified for this standard, which is reserved for the most energy efficient products in a category. Kodak's current ENERGY STAR products include document scanners, consumer inkjet printers, digital picture frames and a variety of accessories for consumer electronics. Kodak's Sustainability Goals are the latest in a series of voluntary environmental and sustainability focused goals dating back to 1998. The current goals set progress expectations in the categories of social responsibility, product responsibility and operational responsibility. Additional highlights of progress through 2010 also include: Decreasing Kodak's occupational injury rate by 75%, surpassing the goal for a 70% reduction. Cutting energy usage by 49%, edging close to the 50% target for the end of 2012. Expanding the use of life cycle assessment methodologies to identify improvement opportunities in all product systems. "Kodak is proud of the progress made thus far, and we remain committed to do more," said Charles Ruffing, Director of Health, Safety, Environment and Sustainability. "Our customers expect us to be more sustainable, and we know that they also want our support in being more sustainable in their own operations and their own lives." Click here for a link to the full report on Kodak's progress on its current Sustainability Goals. For more information on Kodak's Health, Safety, Environment and Sustainability policies, procedures and performance, please refer to www.kodak.com/go/sustainability. About Kodak As the world's foremost imaging innovator, Kodak helps consumers, businesses, and creative professionals unleash the power of pictures and printing to enrich their lives. To learn more, visit www.kodak.com and follow our blogs and more at www.kodak.com/go/followus. More than 75 million people worldwide manage, share and create photo gifts online at KODAK Gallery—join today at www.kodakgallery.com. To read the original press release, click here.  
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DotLoop Opens Doors to Green Real Estate Transactions for 12 Tennessee Brokerages
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Georgia Real Estate Professionals Join the Movement with DotLoop’s Collaborative Workspace
Real estate professionals in the southeast are now executing transactions online through the all-encompassing, collaborative workspace DotLoop. In the midst of a national expansion, Georgia-based agents are the newest group of users to DotLoop; increasing efficiency and meeting today's home buyers' demand for faster transactions. With the prevalence of smart phones and instant connectivity, today's home buyers want the ability to complete the purchase of real estate transactions similar to other products they purchase online. As online business continues to evolve, these tech-minded buyers will appreciate a platform like DotLoop where they can share, adjust and electronically sign documents in real time; under one collaborative workspace. "I was recently traveling with family for the weekend and had a buyer decide abruptly to write an offer on a house we had seen earlier in the week. No problem with the DotLoop difference," said Tonya Hayes, top-producing Realtor with Keller Williams in Columbia, SC. "I quickly found out what she wanted to offer, logged on and emailed the contract for initials and signatures and was on our way to a ratified contract Monday." Initiating real-time transactions or "loops" with clients provides a level of communication similar to being at the same table. As each "loop" is created, agents and clients are continually updated as amendments and electronic signatures are applied to each document. The idea is to eliminate confusion and provide greater clarity to each party throughout the process. Recent studies show an increasing number of new buyers perform their search for a home using the Internet. The National Association of Realtor's "Profile of Home Buyers and Sellers 2010" states, "For the last three years, about 90 percent of home buyers used the Internet in their search." Electronic signatures have also been a used throughout ecommerce for more than a decade. However, until recently, electronic signatures were underutilized in the buying and selling of real estate. Since the Electronic Signatures in Global and National Commerce (ESIGN) Act was passed in 2000 – officially recognizing electronic signatures as legally binding -- user companies reportedly saw increases in their sales while maintaining the integrity and security of their customers' information. A 2010 study by Aberdeen Group indicates, "Users of electronic signatures were 50 percent more likely to show improved customer renewal rates, 41 percent more likely to reduce proposal errors and 18 percent more likely to shorten sales cycles." These statistics directly correlate with the functionality of the collaborative workspace within DotLoop. Upon successful adoption in other regions such as the Carolinas, Virginia, Maryland, Utah and South Texas, DotLoop's presence in Georgia is on pace to gain even more agent users. Agents across the country are experiencing a new way of doing business that makes home buying and selling simple and efficient. After establishing its presence in Georgia, DotLoop continues to expand, reaching new agents in Tennessee, Alabama, Michigan and Northern Ohio during the month of April. About DotLoop Headquartered in Cincinnati, Ohio, DotLoop is transforming the real estate industry by providing a collaborative workspace where any real estate agent can share and sign transaction documents. As the leading provider of collaborative negotiation services, DotLoop is available to service all real estate professionals throughout the United States and Canada. The innovative DotLoop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve, and sign documents digitally - addressing the challenges of security, efficiency, and overhead costs in today's real estate industry. For more information about DotLoop, please click here.  
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Get DocuSign For Free Trial!
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DotLoop Joins Keller Williams Realty Family Reunion
 DotLoop is gearing up for the Keller Williams Family Reunion, Feb. 19-23 in Anaheim, Calif. for the much-anticipated launch of eEdge, the first lead-to-close business solution for real estate. Family Reunion attendees get an in-depth look at DotLoop’s features; designed to improve the transactional elements of their business.   As the myTransactions component of eEdge, DotLoop provides a collaborative workspace to send and share documents with the added convenience and security of electronic signatures.  It is designed to increase efficiency by eliminating cumbersome practices in traditional real estate such as printing, faxing and driving between appointments.   DotLoop’s collaborative workspace allows buyers, sellers and real estate agents to work together to close more real estate transactions.  Both buying and listing agents utilize a unique invitation process to initiate a loop.  From there, either party can share, electronically sign or revise the documents pertinent to the transaction with DotLoop’s unique “Version Now” software. Rather than drafting several copies of the same document, “Version Now” provides agents and their clients’ with the most recent version without printing a single page.   Once negotiations are complete, transactions are finalized using electronic signatures. When a deal is done, all parties can view a thorough record of transaction activity for improved accuracy and security.   Currently, new Keller Williams associates are experiencing the DotLoop difference in Austin, Texas, North Carolina and South Carolina as the result of a recent roll out in the region.   The DotLoop collaborative workspace helps to changes lives for brokers, agents and buyers/sellers.  How?   Brokers: More Confidence and control of their Brokerage by providing more transparency and visibility to all transactions.  Agents: Better time management with a faster, easier way to edit, review and sign documents with clients.  Buyers/Sellers: Buying and selling a home can change people's lives DotLoop helps this happen more often.    The official launch of eEdge at Family reunion begins the national rollout giving Keller Williams’ 80,000 plus agents to access to DotLoop.  Now, agents will close more deals in less time while building better relationships with customers.   Attendees of Keller Williams Family Reunion are encouraged to visit DotLoop at Booth 527 to view demonstrations of how the secure, collaborative environment is where deals get done.   About DotLoop   Headquartered in Cincinnati, Ohio, DotLoop is transforming the real estate industry by providing a secure online platform where any real estate agent can share and sign transaction documents.  As the leading provider of collaborative negotiation services, DotLoop is available to service all real estate professionals throughout the United States and Canada.  The innovative DotLoop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve, and electronically sign documents digitally - addressing the challenges of security, efficiency, and overhead costs in today's real estate industry.   For more information, please click here.  
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Announcing the Templates and Packages Release for eSignOnlineTM v2.0
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