Ultimately, the authors concluded, “There is a current lack of researchable and quantifiable data … Until the data is consistently available and easy to find, it is likely that the residential appraiser’s ability to develop a credible opinion of value will be limited.
Among the observations/findings in the study:
The percentage of home sale listings citing “energy” increased in both local multiple listing services between 2006 and 2013, apparently indicating that such features are increasingly appealing to prospective buyers.
In a very limited survey the authors conducted of home owners who purchased Energy Star-qualified homes, 96% indicated that if they were purchasing a home in the future, they would like the home to have an energy-efficiency rating so that they could compare it to other homes.
According to the authors: “Appraisers need third-party certified and verified energy-efficiency documentation.” Determining a home’s energy efficiency is “beyond the normal scope of work,” knowledge and experience of an appraiser.
Although the survey was not intended to estimate property values based on the presence of energy-efficient elements, in most of the case studies, the presence of energy-efficiency features added measurably to the value of the home. Several of the homes featured in the case studies were certified to the ICC 700 National Green Building Standard.
It was difficult, and sometimes impossible, for the study’s authors to separate the value of energy efficiency measures from other green features.
NAHB actively supports efforts to educate appraisal and realty professionals about the intrinsic value of home performance, and how certifications like the ICC 700 National Green Building Standard can help non-building professionals and their customers identify high performance homes and appreciate their benefits.
The Annual Spring Parade of Homes is on the last week in the Wichita Metro Area. There are some great homes out there. Lots of amenities to consider. Everyone has their own lifestyle and looks for a floor plan to fit. They all have their sense of taste and can look at the colors, finishes and visual effects.
Every builder says they build an energy efficient home. Energy Efficiency is built in behind the walls. It is usually not seen. Energy Efficiency is about people and how they install the items that create the efficiency. The specific items are less important then the way they are installed. Generally, the manufacturers install instructions must be followed.
Wichita – Sedgwick County has not adopted any code provisions for energy efficiency in new homes. It may be legal to build a home with no insulation, but is that a wise decision? No one thinks so. So how much is enough and is it installed correctly? In this area we are reliant on the free enterprise approach energy efficiency in new homes.
Phoenix, AZ has an energy code, yet the free enterprise market based system has upped the game for buyers. Here is a recent article in the Phoenix Newspaper about how a home buyer can see what is behind the walls.
ATLANTA – Public input is being sought into a proposed revision of ASHRAE’s residential indoor air quality guideline.
ASHRAE Guideline 24-2008, Ventilation and Indoor Air Quality in Low-Rise Residential Buildings, is the companion guideline to ANSI/ASHRAE Standard 62.2-2007, Ventilation and Acceptable Indoor Air Quality in Low-Rise Residential Buildings. Guideline 24 provides information on achieving good IAQ that goes beyond the requirements contained in Standard 62.2 by providing explanatory and educational material not included in the code-intended standard.