by Stacey May
on Thursday, October 20th, 2011 at 6:46pm.
Unfortunately green homeowners are still very much sore out of luck when it comes to reaping the value of their green homes. This appraisal form could have been put together ages ago and it's disappointing that large banks have not seen green homes, their financing and energy efficient mortgages that help homeowners retrofit existing homes. This form is indeed a small baby step for the real estate sales industry and I do NOT expect to see the type of forward steps that I feel we should be taking. The Appraisal Institute launched a green educational course earlier this yearand I'm thrilled to see that the appraisal community is actively trying to improve the real estate sales industry, but upset by the lack of political and corporate leadership.
The greatest problem is that our MLS systems and the web-sites that regurgitate MLS data to millions of home buyers and sellers do not adequately record and display very basic energy information. RIGHT NOW it should be mandatory that web-sites like www.realtor.com have the ability to display this important information so homeowners can make an educated decision when they shop for homes. This will help appraisers, banks and real estate agents in many ways as well. See this old blog post all about this VERY important issue. This is a massive opportunity for the United States to improve their energy efficiency. Miles per gallon rating on homes! Not required, but real estate agents MUST at least have the opportunity to display valuable certifications and most importantly a HERS Ratings, which is the most accurate way to measure a home's efficiency and anticipated energy consumption costs.
Another industry problem is how the appraisal industry has been turned upside down. What are the chances that someone purchasing a green home will end up with an appraiser who is experienced or interested in this form? Not very good, in my opinion.