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About Brian McElroy
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I am a home builder in the Tampa Florida area specializing in energy-efficient homes built with precast concrete wall systems that are hurricane resistant to 235 mph. I have researched and used many methods of new home construction and find this the most cost-effective, environmentally-friendly method of home building for this area. I am also investigating other alternative methods to improve my products. I am a member of the Florida Green Build Coalition, EPA Energy Star Program, and have other affiliations involving energy savings, safe building practices and quality construction practices

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You are here:  Experts > Home/Garden > Home Improvement/Repair > Alternative Housing > Dome Home Finance

Alternative Housing - Dome Home Finance


Expert: Brian McElroy - 8/2/2007

Question
I'm a realtor who recently took a listing on a Geodesic Dome House.  I was wondering if you know of anyone or if you do any financing on Dome Homes.

Please Advise. Thanks

Answer
I have been asked this question 3 times in the last 2 weeks. Unless you can get an appraiser to value the home based on comparables, there is no financing available through normal means. There is non-conventional money out there at higher rates and with higher equity requirements. At least 2 of the folks I had ask previously have decided not to purchase based on the unwillingness of lenders to see the value of the doe homes. If you remember when you took your real estate test, there are different types of obselesence. This one falls in that category.  Unless the purchaser has a large down payment, or unless the seller is willing to carry a large 2nd mortgage, financing is a huge challenge. Sorry.

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