Back in 2013 in CHICAGO, it reported that the nation’s largest professional association of real estate appraisers premiered its “Residential and Commercial Valuation of Solar” course. This course back then was the latest offering in the Appraisal Institute’s Valuation of Sustainable Buildings Professional Development Program.
More interestingly, this hands-on course introduces appraisers to solar terminology. Also it shows them how to solve solar-related valuation problems through real-life examples and case studies. All are on both residential and commercial properties.
The Appraisal Institute’s Valuation of Sustainable Buildings Professional Development Program educates appraisers. It educates them on the intricacies of valuing high-performance residential and commercial buildings.
In addition, it also consists of the new intro course and three others. They are the following: “Introduction to Green Buildings: Principles & Concepts”.
Also, “Case Studies in Appraising Residential Green Buildings;” and “Case Studies in Appraising Commercial Green Buildings.” All four courses, which have been approved for continuing education by the U.S. Green Building Council. More importantly, all courses multiple times in many locations across the country.
Launching the “Residential and Commercial Valuation of Solar” course is the most recent example. It’s an example of Appraisal Institute’s leadership in green valuation efforts.
Also, that’s because since June 2008, the Appraisal Institute has offered courses on green. As well as energy-efficient valuation. Most noteworthy, nearly 5,000 attendees have participated even back in 2008!
In September 2011, the Appraisal Institute released the Residential Green and Energy Efficient Addendum. That was the first form of its kind intended for appraisers’ use. It is an optional addendum to Fannie Mae Form 1004. That form is the appraisal industry’s most widely used form for mortgage lending purposes.
Cause the Appraisal Institute’s addendum allows appraisers to find and describe a home’s green features. That’s from solar panels to energy-saving appliances.
· In January 2012, the Appraisal Institute announced its support for PV Value. It’s a spreadsheet developed by Solar Power Electric and Sandia National Laboratories. That spreadsheet assists appraisers and others. Others that are seeking to set up the value of a property’s solar-powered features.
The Appraisal Institute contributed to the Green MLS Tool Kit, issued in April 2010. The tool kit created to help Realtors add a green initiative to their local multiple listing service. The tool kit provides guidance on enhancing data in the MLS, empowering appraisers to make well-supported comparisons, analyses and adjustments.
Published by the Appraisal Institute in June 2010, “An Introduction to Green Homes” by Alan Simmons, SRPA, LEED AP, provides the appraiser with an overview of programs, organizations and products that relate to environmentally responsible building and remodeling.
Further, the Appraisal Institute and the Institute for Market Transformation issued guidance for green valuation. It’s called “Recognition of Energy Costs and Energy Performance in Real Property Valuation”.
It released at a forum hosted in May 2012 by the American Council for an Energy-Efficient Economy.
So the Appraisal Institute sponsored this report. It reported ways to finance $150 billion per year. All in energy efficiency projects that yield double-digit financial returns. “Energy Efficiency Financing: Models and Strategies” by Capital-E and partner organizations. Reporting found that within 10 years, investment at this level would save U.S. businesses and households $200 billion annually. Yup folks and would create more than 1 million new full-time jobs.
In October 2011, the Appraisal Institute endorsed the federal Sensible Accounting to Value Energy (SAVE) Act. That which would improve the mortgage underwriting process by ensuring energy costs included. Sponsored by Sens. Michael Bennet, D-Colo., and Johnny Isakson, R-Ga., the SAVE Act would instruct federal loan agencies to assess a borrower’s expected energy costs when financing a house. IMT also is among the bill’s supporters.
Then Appraisal Institute Unveils ‘Green’ Commercial Valuation Course.
Now fast forward to Nov. 6, 2017. Then again the Appraisal Institute premiered a two-day educational course on valuation of only green commercial properties.
“Practical Applications in Appraising Green Commercial Properties” introduces participants to a broad range of valuation problems. Thereby the ones met when appraising green commercial buildings. As well as conventional buildings with green features. Then and when conventional buildings in today’s markets are increasingly influenced by sustainability and green building.
This course will offer participants real-world case study examples. All from a variety of property types to learn and apply credible valuation techniques. Clearly for analyzing and reporting the degree to which green building and sustainability is affecting property values.
Structured around applying the three approaches to value. Therefore, participants will develop valuable insight and hands-on experience applying cost and income-based adjustments when sales data is lacking, identifying and analyzing rent and marketability premiums, evaluating operating cost impacts and assessing risk effects.
In addition, participants learning how green building and sustainability affect scope of work development. Most importantly it is affecting the highest and best use analysis for both green and conventional properties. Cause the course also familiarized participants with emerging green topics. Topics such as net zero energy, distributed generation, wellness-based design and most interestingly resilience.
The Green Living Guy, Seth Leitman, is recognized as a green living guru and electric car expert. The Green Living Guy writes about green living, green lighting, the green guru guides, green business and electric vehicles.