PAWV
  • Give to PAWV
    • Give Online
    • Ways to Give to PAWV
    • Volunteer
  • Resources
    • Funding Resources >
      • Saving Historical Places Grant
    • Consultants and Contractors
    • Preservation Techniques >
      • Historic Building Assessment
      • How to Recycle Asbestos
      • Mothballing Property
      • Window Rehabilitation
    • Educational Resources >
      • Frances Benjamin Johnston >
        • Essay - Frances Benjamin Johnston: A West Virginia Icon
        • Selected Photos
        • Behind the Lens Activity
      • Webinar Archive
  • Programs
    • Advocacy >
      • Historic Rehabilitation Tax Credits
    • Annual Awards >
      • 2020 Historic Preservation Awards
    • West Virginia Endangered Properties >
      • West Virginia Endangered Properties List
      • Saved Sites
      • Archived Sites
    • West Virginia Historic Preservation Conference
    • Historic Preservation Loan Fund
    • Webinars
    • West Virginia Historic Theatre Trail >
      • Movie Theatres of West Virginia
    • WV New Deal Trail
  • AmeriCorps
    • About Preserve WV
    • Preserve WV Stories
    • Preserve WV Members
    • Join AmeriCorps >
      • Open AmeriCorps Opportunities
      • Apply for AmeriCorps
    • Sponsor a Member
    • Preserve WV Alumni
  • About Us
    • Contact PAWV
    • Our Team
    • Our Story
    • News and Notes

MARKETING HISTORIC HOMES & OTHER TIPS FOR REAL ESTATE AGENTS

5/10/2013

 
By Danielle

Earlier this week, I had the pleasure of attending a workshop primarily for real estate agents at the Historic Darden House in Elkins, WV.  This was the third workshop in a series with other locations including Martinsburg and Wheeling.  The WV State Historic Preservation Office (WVSHPO) and three Certified Local Governments teamed up to give the workshops in honor of National Historic Preservation Month.

Historic homes and residential historic districts are a dime a dozen in West Virginia.  To increase the sale of these homes, real estate agents learned historic preservation facts while earning seven Continuing Education Units.  Speakers, Robin Ziegler with the National Alliance of Preservation Commissions and Jennifer Brennan with the WVSHPO, had a jam-packed session focused on the National Register of Historic Places, historic preservation financial incentives, and best ways to market historic homes.  I’ll share those with you shortly!

Before moving onto the tips, let’s recap the financial incentives available in West Virginia.

State Residential Rehabilitation Tax Credit: This is a 20% state income tax credit which is based on qualified expenditures undertaken as part of the rehabilitation to a historic private residence. The credit is applied directly against taxes owed by the owner. This credit is available to private homeowners for approved rehabilitation work on their own residence.  The building must be either individually listed or a contributing building in an historic district listed in the National Register of Historic Places.

Non-historic Tax Credit:  This 10% tax credit is available for the rehabilitation of non-historic buildings placed in service before 1936. The building must be rehabilitated for non-residential use and cannot be listed in the National Register of Historic Places.

State Development Grant: This is for rehabilitation of properties that are listed in the National Register of Historic Places or a contributing property in a historic district or/and archaeological development of a site listed in the National Register of Historic Places.  The grant will cover up to 50% of the project costs, and a 50% match must be provided to receive the grant.

Federal and State Commercial Rehabilitation Tax Credits: A 20% federal income tax credit and a 10% state income tax credit are available for the rehabilitation of historic, income-producing buildings that are determined by the Secretary of the Interior, through the National Park Service, to be “certified historic structures.” The State Historic Preservation Offices and the National Park Service review the rehabilitation work to ensure that it complies with the Secretary’s Standards for Rehabilitation.

Real estate agents should always know if the property they are selling is listed in the National Register of Historic Places.  This information is easy to find too!  For West Virginians, just go to the WVSHPO’s website to see if your property is listed.  Once you know if your property is listed, you will know what financial incentives are available to buyers. 

Now for the marketing tips:
1)      Create a Story – Research the home and find a few interesting tidbits.  Share these with your potential buyers.  The National Register nomination should have some useful information, and you can also research deeds at the county assessor’s office.  The deed will tell you the history of ownership, and you might find that one of the owners had an interesting past.

2)      Highlight Original Elements – Historic buildings are treasure troves for original craftsmanship.  This will interest many buyers.  Point out woodworking, light fixtures, crown molding, and other original materials.  Maybe the building is from a special period.  Is it a Sears Kit Home or a Lustron Home?  Find out!  These are niche markets, and buyers want to know all about these homes.

3)      Financial Incentives – Don’t forget these!

4)      Be a Resource – Offer information on FHA 203K loans, historic preservation craftspeople (we can help with this one), and insurance companies.

5)      Embrace the Flaws – Know your buyers.  They may appreciate the hand-made quirks of historic homes.  They might want a fixer-upper and will jump at the chance to stain those old hard wood floors that have been hidden under carpet for the last 30 years.

6) Advertise with the National Trust for Historic Preservation and other historic real estate websites/magazines.

7)      Know Inspectors who Understand Historic Buildings – They understand that historic buildings were built to last and will tell the truth about the property you are trying to sell.

8)      Consider a Specialty – During your research, you may find that there is a prevalent architect, builder, or style in your area.  Specialize in a topic that can help you sell these properties.

West Virginia’s population has, for the most part, been on the decline for the last few decades.  Real estate agents can help turn around this trend by selling historic homes and increasing investment in West Virginia’s communities.

Comments are closed.

    News and Notes

    RSS Feed

    Categories

    All
    About
    Advocacy
    Awards
    Conferences
    Endangered Properties
    Excuse For An Excursion
    Federal Historic Tax Credit
    For Sale
    Heritage Areas
    Heritage Tourism
    Historic Architecture
    Historic Preservation Funding
    Historic Preservation Programs
    Miscellaneous
    Newsletter
    Preservation Legislation
    Preserve WV AmeriCorps
    State Historic Tax Credit
    Training

    Archives

    February 2021
    January 2021
    May 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    March 2019
    February 2019
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012


    Subscribe to our mailing list to receive e-news updates on historic preservation news and events in West Virginia.
    Subscribe

Get Involved

  • Give Online
  • ​Volunteer
  • Join AmeriCorps 
  • ​Subscribe 
  • Kroger Community Rewards
  • Shop with Amazon Smile
  • Contact Us

Programs

  • Our Latest E-News
  • Saving Historical Places Grant
  • Preserve WV AmeriCorps
  • Advocacy
  • ​Preservation Awards
  • Endangered Properties List
  • Conferences
  • Historic Preservation Loan Fund
  • WV Historic Theatre Trail
  • WV Historic New Deal Trail


Contact Us

Preservation Alliance of West Virginia
​421 Davis Avenue, #4  |  Elkins, WV 26241
​Email: info@pawv.org
Phone: 304-345-6005
Donate with Crypto

PAWV Logo
Picture
Picture
Picture
© COPYRIGHT 2021 - PRESERVATION ALLIANCE OF WEST VIRGINIA. ALL RIGHTS RESERVED.
  • Give to PAWV
    • Give Online
    • Ways to Give to PAWV
    • Volunteer
  • Resources
    • Funding Resources >
      • Saving Historical Places Grant
    • Consultants and Contractors
    • Preservation Techniques >
      • Historic Building Assessment
      • How to Recycle Asbestos
      • Mothballing Property
      • Window Rehabilitation
    • Educational Resources >
      • Frances Benjamin Johnston >
        • Essay - Frances Benjamin Johnston: A West Virginia Icon
        • Selected Photos
        • Behind the Lens Activity
      • Webinar Archive
  • Programs
    • Advocacy >
      • Historic Rehabilitation Tax Credits
    • Annual Awards >
      • 2020 Historic Preservation Awards
    • West Virginia Endangered Properties >
      • West Virginia Endangered Properties List
      • Saved Sites
      • Archived Sites
    • West Virginia Historic Preservation Conference
    • Historic Preservation Loan Fund
    • Webinars
    • West Virginia Historic Theatre Trail >
      • Movie Theatres of West Virginia
    • WV New Deal Trail
  • AmeriCorps
    • About Preserve WV
    • Preserve WV Stories
    • Preserve WV Members
    • Join AmeriCorps >
      • Open AmeriCorps Opportunities
      • Apply for AmeriCorps
    • Sponsor a Member
    • Preserve WV Alumni
  • About Us
    • Contact PAWV
    • Our Team
    • Our Story
    • News and Notes