Eight Twenty Solar

[Teo9969]

I am not sure where "making your money back" comes into the picture since you always have more money each month. Like, you don't talk about "making your money back" when you just measure interest from money you put in a savings account.

This would be more akin to amortizing 30% of my electric costs over the next 30yrs and not having to pay the other 70%.

Because you can't finance $230k, you can only finance $200k and have to pay the additional $30k out of pocket

[Midtowner]

Because you can't finance $230k, you can only finance $200k and have to pay the additional $30k out of pocket

How many people really finance 100% of the purchase of a home? Aintcha heard about a down payment? For that $200K home, you should be putting down at least $40K to avoid PMI, right?

[chssooner]

How many people really finance 100% of the purchase of a home? Aintcha heard about a down payment? For that $200K home, you should be putting down at least $40K to avoid PMI, right?

But most first (or even second) time home buyers can't afford 20% down, so they grin and bear the PMI.

[OKCRealtor]

How many people really finance 100% of the purchase of a home? Aintcha heard about a down payment? For that $200K home, you should be putting down at least $40K to avoid PMI, right?

Most people do not have an abundance of cash to put down. Apart from credit scores, it's probably the #2 reason people couldn't buy something in the last couple years as you needed cash to get in. Over 60% of people living paycheck to paycheck, which is staggering, including those over $100k threshold.

[Teo9969]

How many people really finance 100% of the purchase of a home? Aintcha heard about a down payment? For that $200K home, you should be putting down at least $40K to avoid PMI, right?

Y'all are making the #dontbepoor argument.

People are not going to choose a smaller/worse located/lower quality house in order to get into a home that has Solar they know nothing about already installed.

I see a future where appraisals give back some value to owners who did the install, but it will never be what you paid for install. I think best case scenario, you'll lose minimum 30% of wherever you're at in the depreciated life cycle.

[fortpatches]

Most people do not have an abundance of cash to put down. Apart from credit scores, it's probably the #2 reason people couldn't buy something in the last couple years as you needed cash to get in. Over 60% of people living paycheck to paycheck, which is staggering, including those over $100k threshold.

I'm lucky I bought my first house in mid-2019. No down payment, meh credit, and bank preapproval based on a job offer letter when I was otherwise unemployed for 6 mo / an independent contractor (By closing, I did have two paychecks with my new (current) job, though).

Basically, I had to buy a house since I could not find a landlord that would allow three pets and we couldn't just abandon one!

[Midtowner]

Y'all are making the #dontbepoor argument.

People are not going to choose a smaller/worse located/lower quality house in order to get into a home that has Solar they know nothing about already installed.

I see a future where appraisals give back some value to owners who did the install, but it will never be what you paid for install. I think best case scenario, you'll lose minimum 30% of wherever you're at in the depreciated life cycle.

If you're not a first time homebuyer, you likely have $100K+ to plunk down as a down payment. Especially if you built up some equity in the home you're moving from. Even more especially if you're moving here from a higher priced market. A lot of these assumptions presuppose all buyers will be first time purchasers or will only have a de minimis down payment. I can't imagine--especially for homes in the $400s and up that many buyers are purchasing their first home or aren't able to put at least 20% down.

So yeah, most home buyers are probably not poor. That's why they're home buyers and not renters. We're not really talking about poor people here.

That said, you're going to probably lose a good chunk of money on any home improvements you aren't doing a good quality job on yourself unless the improvement is bringing the house from 'unacceptable' to 'acceptable.' Even premium windows and doors aren't going to give you a 100%+ ROI.

[Teo9969]

No, the argument is really this:

Buyers will figure out what their budget is both in terms of down payment and loan thresholds.

They'll then create their list of criteria to look for, and all but a fraction of buyers will have already-installed-solar as a criterion. So you, the owner of a solar home, will list your house out of their price range by asking for additional monies to cover the solar. You won't even get factored in because you'll be out of range, and if you are well with in their price point, your home is probably lacking other major criteria they're looking for.

Now, when a home finally starts appraising higher due to solar and it *is* possible to buy beyond budget because of rolling what forpatches posted in post #72 there will be more market, but still less than you think because so many buyers look to buy as much house as they'll be approved for, even if they have the capital.

[Pete]

This project is dead:

[HangryHippo]

Any idea where they may be looking now in lieu of this location?

[king183]

When Eight Twenty was installing my solar project last year, I asked them about their plans to build in that location. They seemed genuinely excited to start developing it, but mentioned that they discovered some major environmental issues and weren't sure at that time what it would take to remediate. Hopefully they find a new location.

[David]

Really a shame this is dead, I assume that probably kills the possibility of Sheridan getting extended west and curving up to cross the tracks and intersect with 1st street?

[josefromtulsa]

they discovered some major environmental issues and weren't sure at that time what it would take to remediate.

This is going to be the story with most of the land between NW 4th and Reno. With OKANA all that land is just gonna boom in value even more. And i think RTA wanted to put the Tinker BRT down Reno to Eastern to SE 29th.
.

[therhett17]

When they say "environmental issues" and "cleanup", what exactly is the issue? What is the land contaminated with?

[fortpatches]

Is it part of the OKC oil fields stuff that (may have?) contaminated other areas like the Producers Co-op site?

I have just started reading about the contamination down town and it is pretty crazy.

[Pete]

Eight Twenty Solar is taking space in a multi-tenant warehouse building at 1825 N. Walnut.

[Urbanized]

Weird…I thought that’s where they already were. I know there’s been trucks with 820’s name on them in front of that building since around day one.

[Pete]

Weird…I thought that’s where they already were. I know there’s been trucks with 820’s name on them in front of that building since around day one.

They may be just expanding inside that building.