1. Success of Green Building in the Northwest
Healthy Home Class – Built Green
November 12, 2009
By GreenWorks Realty 1

2. GreenWorks Realty
GreenWorks Realty is the only mission driven real estate company in our region.
The first real estate brokerage in the country to specialize in green properties.
Full-service agency
Every agent is expected to receive green designation (Built Green Professional, LEED AP, EcoBroker) within their first year
We believe real estate professionals can be change agents and influence the demand for green homes.
We work to make every home a greener home through our Healthy Home Package, free to our clients who purchase a non-green home. GreenWorks recently performed an in-depth carbon footprint analysis and implemented carbon reduction measures into our culture and policies. 2

3. King County Single Family Homes Built 2007 or Later Certified Built Green, Energy Star, and LEED For Homes
Non
Certified %
Homes
Diff
# of homes sold
4,188
1,129
21.2%
Median Square Ft
2,400
1,779
-25.9%
Median Sold Price
$ 457,823
$ 469,950
2.6%
Median Days on Mrkt 58 52
-10.3%
Price/SF $ $
38.5% 3

4. 4

5. 5

6. Seattle Single Family Homes Built 2007 or Later Certified Built Green, Energy Star, and LEED For Homes
Non
Certified %
Homes
Diff
# of homes sold
1,411
627
30.8%
Median Square Ft
1,500
1,455
-3.0%
Median Sold Price
$ 399,990
$ 417,000
4.3%
Median Days on Mrkt 50 38
-24.0%
Price/SF $ $
7.5%
Unpublished Data:
In the City of Seattle, Certified Homes Premiums have jumped from 7 ½ to 8 ½ %
Certified Home Premiums have been steadily increasing 6

7. Seattle Single Family Homes Built 2007 or Later Certified Built Green, Energy Star, and LEED For Homes Ballard/Greenlake Neighborhood
Area 705
Non
Certified %
Homes
Diff
# of homes sold
465
240
34.0%
Median Square Ft
1,471
1,369
-6.9%
Median Sold Price
$ 419,000
$ 410,000
-2.1%
Median Days on Mrkt 47 36
-23.4%
Price/SF $ $
5.1% 7

8. Seattle Single Family Homes Built 2007 or Later Third Party Verified (Built Green 4 and 5 Star Homes)
3rd Party Cert
Non
Certified %
Homes
Diff
# of homes sold
1,254 77
5.8%
Median Square Ft
1,490
1,527
2.5%
Median Sold Price
$ 405,000
$ 465,657
15.0%
Median Days on Mrkt 50 74
48.0%
Price/SF $ $
12.2% 8

9. Green Building Value Initiative
Purpose:
To determine the level of value green building certification adds to residential and commercial real estate projects
Method:
Case studies, property comparisons, interviews, and surveys for assessments
Involved Parties:
A collaboration between:
Built Green- King and Snohomish Counties
Built Green- Washington State
Cascadia Chapter of the US Green Building Council
Earth Advantage Institute
Northwest Eco Building Guild
Lighthouse Sustainable Building Center
Master Builders Association of Pierce County
Olympia Master Builders
State of Washington Department of Ecology
Vancouver Valuation Accord 9

10. GBVI Highlights
Home buying public needs to better understand the value
and significance of certified sustainable homes.
Builders who build certified homes asserted the importance that homebuyers
learn more to understand the full quality and value of their products.
Home values should incorporate performance measures.
Residential performance measures should be incorporated into standard home valuation. Long-term reductions in utility and repair costs should be considered
in appraisals.   
Certified homes perform better if the home buyer understands
the quality and systems differentiation of that home.
A certified home is more likely to earn a price premium if the quality and performance savings of that home is clearly communicated to the future resident. 10

11. GBVI Highlights Hamilton Report
14% premium from marketing the green features of a home.
In a 5 county region:
$534,000 – Avg. sales price of certified homes marketed as green
$458,000 – Avg. sales price of certified homes NOT marketed as green
Study includes:
1,470 certified homes sold between 2007 and April, 2009, built between 2005 and 2009.
All counties show some sort of premium for marketed homes, presenting strong evidence that marketing green features and certifications has a positive effect on home prices.
Conclusion
As buyers mature in their understanding of certified homes, the value of
certified homes will continue to grow relative to those without certification. 11

12. Buyers Underestimate Environmental Impact of Homes12

13. 13

14. Who’s Listening? Profile of the Green Home Buyer
Income Levels
32% over $75,000
64, over half over $50,000 14

15. Who’s Listening? Profile of the Green Home Buyer
Educational Level
Green homeowners are highly educated, with nearly 80% having some college-level experience. Nearly 60% have college or advanced degrees.
I would imagine that with our technology-based economy in the Northwest, that this national statistic is pretty spot-on?
The Milliennial Generation was raised on recycling and corporate transparency and these ethics will continue to push the consumer markets, including home buying.
Young people are the future home buyers, and they are likely to continue to push the market toward more sustainable practices. 15

16. Dave’s notes on demographics
Personal Attitudes and Preferences of Green Homeowners – Cultural Creatives
Interested in continuous learning and new experiences – 79%
Active as comparative shoppers – 76%
Enthusiastic about travel – 73%
Dave’s notes on demographics
Page 17 SmartMarket
Interested in cooking – 64%
Socially and politically knowledgeable – 58%
Additionally, 40% are not at all interested in celebrities and television. 16

17. RCLCO Report
Green homeowners are highly educated, with nearly 80% having some college-level experience. Nearly 60% have college or advanced degrees.
I would imagine that with our technology-based economy in the Northwest, that this national statistic is pretty spot-on?
The Milliennial Generation was raised on recycling and corporate transparency and these ethics will continue to push the consumer markets, including home buying.
Young people are the future home buyers, and they are likely to continue to push the market toward more sustainable practices. 17

18. RCLCO Report

19. RCLCO Report

20. RCLCO Report

21. RCLCO Report

22. RCLCO Report

23. NWMLS Environmental Additions to Listing Input

24. National Green Labels
Home rating systems (to be discussed soon), and product labels and rating systems help consumers know what they are buying, and realtors know what they are selling. 24

25. What’s Next 25

26. Thank you.
Ben Kaufman 26