QUICK TAKES Seeing value in ‘green’ residential properties There is a market for homes with energy efficient and high performance features, according to the “2021 REALTORS® & Sustainability Report – Residential,” by the National Association of REALTORS®. Some of the findings include: u 82 percent said properties with solar panels were available in their markets and 40 percent said homes with solar panels raised perceived property values. u 65 percent of respondents said energy efficiency promotion in listings was very valuable or somewhat valuable.
u 55 percent said customers
were at least somewhat interested in sustainability. u 36 percent reported that their MLS has green data fields that they used to promote green features and energy information. u 22 percent said they’d been involved with properties with “green” features. The most popular features consumers seek included: windows, doors, siding, proximity to frequently visited places and a comfortable living space. For more details, go to: bit.ly/NAR_ SustainabilityReport_2021
Freddie Mac's surprising facts about refinancing
In memoriam
Illinois REALTORS® mourns the loss of Morton-area REALTOR® Nancy Koch, a former president of the Peoria Area Association of REALTORS® and the Illinois Real Estate Educational Foundation. In 2007, she was named Illinois REALTOR® of the Year. Koch died April 19. 6
www.IllinoisRealtors.org
As mortgage interest rates fell throughout 2020, 10.1 percent of refinances were “repeat refinances,” according to research from Freddie Mac. In other words, the loans were refinanced two or more times in a 12-month period. In 2019, 7.8 percent of refinances were repeats, while 16.6 were repeats in 2003. On average, consumers who refinanced a 30-year fixed rate mortgage into another 30-year fixed rate mortgage saved more than $2,800 in annual mortgage payments. Also, during the first quarter of 2020, about 24 percent of borrowers shortened the term of their loans. About 98 percent of refinancing borrowers chose fixed-rate loans. For more information, go to: bit.ly/FreddieMac_Refinance
