The Appraisal Institute has developed a Residential Green and Energy Efficient Addendum. The Appraisal Institute Green Addendum is the first residential energy efficiency appraisal report addendum developed by appraisers, for use by appraisers when appropriate. This report evaluates items of high performance housing for consideration by appraisers.
Measuring the Value of Home Energy Efficiency
The Appraisal Institute Green Addendum will serve as a tool for appraisers when selecting comparable sales for the property being appraised. If an appraiser had a completed Appraisal Institute Green Addendum on every high-performance house used as comparable sales, it would leave little question on the comparability of the data. The addition of this property evaluation method may aid in a more accurate valuation of the property.
Download Information about Homes Already In the RESNET Registry
Through an agreement between RESNET and the Appraisal Institute, you can now generate the Appraisal Institute Green Addendum and auto-populate it from the data collected in the home energy rating. Any RESNET Rater with access to the RESNET National Building Registry can produce the Residential Green and Energy Efficient Addendum at the time that a home’s energy rating is entered into the RESNET registry. RESNET Raters can now log into the RESNET Building Registry, view a rating, and then click on “Print Appraisal Institute Addendum” at the top of the screen. It will automatically generate and start downloading a PDF form and auto-fill it with the data currently available in the registry. When RESNET adds additional building description data to the registry, you will be able to fill out a lot more. In the meantime, Raters can use the PDF form to fill out additional information manually and then print it.
This new Green Addendum will help appraisers better understand the value of a house with consideration to its energy-efficient features. This will provide increased value, and likely demand, for homeowners seeking a RESNET HERS rating of their home. To learn more about RESNET Ratings, please visit the RESNET HERS page.