AB 2678 (Núñez) was passed by the Assembly on a 44-33 vote on Wednesday. The bill needed 41 votes to pass. AB 2678 would require, among other things, that ALL homes and commercial property in California have an energy audit at point-of-sale, and that mandatory energy efficiency investments be made. While C.A.R. appreciates the goal of energy conservation, C.A.R. strongly opposes the point-of-sale requirements in AB 2678 because they are not necessary to achieve the bill’s objectives and such mandates will weaken the housing market. If enacted, AB 2678 could add thousands of dollars to the cost of purchasing a home, including up to $400 just to have the home audited. AB 2678 will next be considered by the state Senate. Stay tuned for more info on that bill.

As a home buyer, a home’s energy efficiency should be a priority and factored into understanding your monthly housing costs.

As a home seller there is the obvious resistance to spend money on upgrades to the home you are selling. You just want to get out of there and into your new dream home right? Questions I wonder at this point are: Will the energy efficient upgrades have to be done before Escrow closes? or will a credit to the buyer at closing be sufficient and a follow up energy audit after closing? This will be an interesting to watch how it unfolds.

Mario Bertacco, Broker
SoCo Real Estate, Inc