NEW Residential Green & Energy Appraisal Form.

By
Real Estate Broker/Owner with DMK Real Estate Ct RE Broker 0789963

 

NEW Residential Green & Energy Appraisal Form.

The form is being offered as an optional addendum to Fannie Mae Form 1004 - the standard appraisal form for mortgage lending purposes that, according to the appraisal trade group, devotes limited attention to green home features.

The Appraisal Institute recently released a three-page optional addendum form to the standard appraisal form Fannie Mae 1004. The new GREEN Form is called the Residential Green and Energy Efficient Addendum  and is meant to collect information about energy efficient and green features, such as insulation values, efficiencies of heating and air equipment, high performance windows, geothermal heat pumps,  reclaimed water systems, ENERGY STAR qualification or a HERS Rating, etc.  can now be more easily considered into the home’s value

The form is meant to be used by appraisers, lenders, home energy raters and builders.  The Appraisal Institute is encouraging Fannie Mae and Freddie Mac to use the form and even request it from appraisers.

Energy-efficient green features will now get more attention from appraisers that will benefit owners of sustainable buildings and homes.  Few people realize that they have a right to request that their lender assign an appraiser who is skilled and competent at performing valuation adjustments for energy efficiency features.  It is perfectly acceptable to provide documents and information to the lender or appraiser about features of your home that you think are above average.  It is the appraiser's job to verify that information, and give it an appropriate value.



 

David Popoff is a license Realtor in Connecticut with William Raveis office in Darien.   
A resident of Fairfield County for over 40 years with a background in residential construction and property management.

  • NAR Green designee.
  • David Popoff is an accredited LEED Accredited Professional (LEED AP) Homes and USGBC member of the Connecticut chapter (CTGBC).  
  • Associate member and an accredited Certified Green Professional (CGP) of National Association of Home Builders (NAHB) and the local chapter HBRA-Fairfield County, Ct. .
  • Contact David Popoff for all your real estate needs in lower Fairfield County, Connecticut. Member of the Connecticut Association of Realtors, CAR.
  • Member of the National Association of Realtors, NAR.
  • Member of the Darien MLS, Greenwich MLS & Greater Fairfield County, Ct MLS.

 

Posted by

David Popoff
Connecticut Licensed Real Estate Broker
Realtor® Green
Seller Representative Specialist
Accredited Buyer Representative
candidate
LEED AP Homes

 

DMK Real Estate, Darien, CT.
Cell (203) 228-0646
DMKrealestate.com

 

 

 

DMK Realty, 06820 

 

 

 

 

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Topic:
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Groups:
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Green Marketing
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Green in Connecticut

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Rainmaker
514,107
The Scott Loper Team Bux-Mont Premier Properties
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi David,

I don't know for sure, but I would bet the homes in our area of Southeastern PA would not fare so well in these appraisals.  But I do think the green movement will catch and spread (eventually).

Lisa

Oct 12, 2011 02:29 AM #1
Rainmaker
756,187
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

This addendum is an optional page to the standard appraisal, only if needed Scott.

Oct 12, 2011 03:16 AM #2
Rainmaker
271,071
Dave Roberts
Healdsburg Sotheby's International Realty - Healdsburg, CA

Thanks for pointing out this form. Green homes are definitely more cost effective to heat and cool and it's only right that lenders consider lower utility costs when they are calculating loan ratios.

Oct 12, 2011 12:35 PM #3
Rainer
27,574
Marlo Newman
W.J. Bradley Mortgage Capital - Scottsdale, AZ
Marlo Newman Mortgage Banker 480-326-9858

One of the things missing on the form is type of pool pump (variable or 2 speed) here in Arizona switching them out to newer ones can be almost 20% of the persons bill every month.

Oct 18, 2011 09:15 PM #4
Rainmaker
756,187
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

The vairiable speed pumps for pools, heating systems etc work very well. There is an open item on the form where you can put in additional green features that were not listed. This is an all use form and depending on what region you live in there will be different sustainable features.

Oct 19, 2011 12:45 AM #5
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Rainmaker
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David Popoff

Realtor®,SRS, Green ~ Fairfield County, Ct
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