KENT-TAL NEWS APRIL 2016

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Megan’s Message Megan Beauvais, Realtor® CalBRE #01426805 Ascent Real Estate TO GO SOLAR OR NOT TO GO, THAT IS THE QUESTION… I get asked about solar panels a lot with regards to resale value. Solar energy certainly has its environmental benefits that are hugely impactful and my position has always been in support of sustaining and preserving our earth. That said, solar panel leases tend to hinder and complicate a real estate sale due to the terms and conditions, and lender requirements. Unless these panels are bought outright, it will sometimes turn people away from a purchase. Sometimes homeowners don’t like the way they look, aren’t interested in dealing with the material once the lease is paid off, or don’t want to be burdened by an additional lease payment. In my opinion, these leases really didn’t make much financial sense up until recently as the costs were often on par with the cost of your actual energy bill.

On top of that you have roof preparations, potential maintenance issues and the long terms of the leases. From a buyer perspective, the fact that buyers are required to be pre-approved to assume said lease as well as incorporate the lease into their debt to income ratio (as compared to regular utility bills which are not considered with DTI calculations) just complicates the loan approval process. Currently, I am finally seeing a change in the way the solar panels are sold today that is starting to make better sense. While I am not sure we are actually at a place where these panel sales actually enhance the value of a home, progress is progress. Some contractors are approved for the HERO program (Home Energy Renovation Opportunity), where the cost for the lease is incorporated into your tax bill as an assessment. While this is a great solution for homeowners who plan to remain in their homes for the duration of the lease/assessment payoff, this assessment is recorded against your tax bill and most lenders won’t lend on a property with this additional tax. You are thereby required to pay it in full prior to funding a loan as there is too much risk involved of non-payment for the lender. There is a new program which I just learned of from a client that is offering a low fixed energy rate for a 20-year term and no additional cost to the homeowner, with zero down and actually a cost benefit. That said, the future buyer of your home will still be faced with the approval process for taking over the lease payments. The best advice I can give you is to recognize the environmental benefits of generating your own power, but do not count on solar panels to enhance the value of your home when you go to sell it…yet. If you have any comments, call me I would love to discuss it with you!

Vol.1 No. 10 - April 2016

MEET YOUR NEIGHBOR

M

eet Your Neighbors, Bella and Stan Hollingsworth. Talmadge residents Bella & Stan Hollingworth have lived in the Mid-City area for 30 years. The Hollingsworths moved to the area as newlyweds, the first year after they married. Before settling in Talmadge, they lived in Solana Beach. Bella was originally born in Portugal (Madeira) and emigrated to the United States when she was 4. Her family settled in Boston, MA where she grew up and attended art school. Bella got her first job in Connecticut teaching art and eventually made her way out to California. She has been in San Diego specifically for the past 40 years. Stan Hollingsworth is originally from Salt Lake City, Utah. After graduating from the University of Utah with a bachelor’s degree in Science, he joined the Peace Corps and had the opportunity to see the world. After travelling to parts of Africa and Somalia he returned to the is teaching career teaching Math for the San Diego City Schools. As fate would have it, this is where he met his love, Bella. While working for San Diego City Schools, Bella was a district counselor that mostly worked at John Adams Elementary and Stan taught junior high school at Kroc Middle School. Stan Hollingsworth had lived in Talmadge before meeting Bella and always had a fondness for the area. After their engagement, Stan told Bella that he really loved this neighborhood and he wanted to introduce her to the area. She immediately fell in love. Their search for the perfect house took them six months and in time they found their current home. When asked what they love most about Talmadge, Bella says she loves the “neighborliness - everyone is open and friendly” and they “love the feeling of being part of a close community” where everyone is “proud of the neighborhood.” She says Talmadge is a place with no “…exclusiveness, but rather an inclusiveness. People go out of their way to be neighborly especially retired people like us, everyone is so outgoing and friendly.” If you weren’t already aware, Bella is an amazing artist. She paints commissioned art work that includes homes and pets and has painted dozens of homes in Kensington and Talmadge. She participates in art shows throughout San Diego and has painted several homes for me personally, and was a featured artist at the Art Around Adams event last year. A portrait painted by Bella of your home or beloved pet makes a great gift to yourself or a loved one and she will even frame it for you! According to Bella, it’s a great way to meet new people and what a great way to get to know them. Stan enjoys playing the piano and belongs to a piano group in Balboa Park where they play for one another. You can often walk by their house on any given day and hear the piano melodies pouring through the windows. It is really quite lovely. The Hollingsworths enjoy studying languages (Bella French and Stan Spanish) and in addition to music and art Stan writes short stories (fiction) and Bela writes poetry. They both love the same things…art, music, literature meeting new people and of course, their shared love of Talmadge. Lastly, they say that the spirit of the community is second to none and they haven’t encountered anything like it anywhere else they have lived. In fact, several new neighbors have mentioned it to Bella…that is the spirit of Talmadge. The next time you see the Hollingsworths out on their daily morning walk of the neighborhood…be sure to introduce yourself and say Hi! For more information about commissioning a portrait, contact Bella Hollingsworth at (619)229-0650. Everyone is conscientious about keeping up their property. The spirit of community is second to none - haven’t found this anywhere else she lived. New neighbors even mention this to her…that is the spirit of Talmadge.


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KENT-TAL NEWS APRIL 2016 by SD METRO - Issuu