The HERE Model Holds the Key for Stimulating Both Energy Retrofitting and Home Sales
(*SMUD has increased their rebate, since the production of this video.)
“The HERE Model holds the key to creating a serious urgency and demand for the energy retrofitting programs currently available. It does this in a way that leverages these resources and creates momentum for opportunities that have been available for years and will be available well into the future. This will ensure that energy retro-fitting will continue once the incentives are no longer available. This is something that not only creates jobs and promotes retrofitting measures but actually ensures that both the jobs and the energy reduction process will continue after the ARRA funding has been exhausted. This is a very significant advantage over any of the approaches that have been attempted so far.
The real beauty of this approach is that it is a classic example of a multiple-benefits solution. That is, the solution to promoting these energy retro-fitting opportunities is actually achieved by using this opportunity to solve another problem. It is a case where 1 plus 1 equals much more than 2.
Energy retrofit rebates associated with the financing of energy upgrades into home purchases provide a significant incentive to purchase a house. That alone will unleash an enthusiastic sales force for retrofit of around 175,000 Realtors in this state.
The HERE Program uses current guidelines and available programs. In other words, almost everything we need to do this is HERE now. The only parts missing are:
1) The recognition of these opportunities; and
2) A legitimate resource for the Loan Officers and Realtors to obtain accurate and practical information to successfully support these financing programs.
I am addressing both of the above points. I am also providing specific scenarios that many buyers will be able to use to structure energy retrofit financing in combination with homebuyer programs, resulting in more net financial incentive than the $8,000 Federal Stimulus Home Buyer Credit. Note that this is not limited to first time buyers either.
One of the keys to effectively making this work, however, is a clear understanding among the Contractors, Lenders, and Realtors of the special considerations that must be accommodated when Energy Financing is incorporated into the home purchase process.”
(The preceding information is an excerpt from “Important Considerations for HERE Model”)
This site is a work in progress and content will be updated and clarified over the next couple of weeks.
Sacramento 1st DBA Comstock Mortgage – Lic : 01390474
Kevin Nunn – NMLS 305826 / DRE 01158674
