Appraisal Institute Improves Tool to Aid Valuation of Green Home Features
The nation’s largest professional association of real estate appraisers today released an updated research tool to assist appraisers and users of appraisal services in understanding market reactions to green and energy efficient homes. In updating the AI Reports® Residential Green and Energy Efficient Addendum, the Appraisal Institute intends to position appraisers to analyze data more efficiently and to report the analysis in a format that is more readable and consistent with mortgage industry information standards. The Appraisal Institute originally issued its Residential Green and Energy Efficient Addendum in September 2011 as an optional addendum to commonly used appraisal forms for loans sold and guaranteed by government-sponsored enterprises and government agencies. The Addendum was most recently updated in March 2013. “The objective of this Addendum is to standardize the communication of the high-performance features of residential properties,” said ...