Colorado signs up for 'green' home appraisals | Denver Real Estate ...

Dennis Huspeni
Reporter- Denver Business Journal

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The Appraisal Institute has signed a memorandum of understanding with Colorado to better promote the appraisal of home energy-saving features and help develop valuation studies with state officials.

While the appraisal industry has been working to develop standards, valuation of energy efficient features on single-family homes varies wildly.

Appraisal Institute officials plan to work with the state?s Energy Office to identify Colorado market-specific trends in energy valuation. ?The organizations plan to collect information about the impact of energy efficiency on the residential real estate market and to share that data as trends emerge,? according to a news release issued Tuesday.

The Appraisal Institute bills itself as the nation?s largest professional association of real estate appraisers.

?This effort is part of the Appraisal Institute?s mission of providing leadership in the real estate valuation profession, including in emerging areas such as valuing green and energy-efficient features,? Sara W. Stephens, MAI and Appraisal Institute president, said in a statement.

Gov. John Hickenlooper signed the memo with Appraisal Institute CEO Frederick Grubbe. The release said the memorandum ?seeks to address a need for data in valuing homes with green and energy-efficient features. In addition to aiding appraisers, that data can help consumers decide which improvements to pursue as they seek to maximize the value of their homes,? the release states.

?Understanding the market reaction to high performing homes is a key component of the Colorado Energy Office?s residential efforts,? Peter Rusin, Colorado?s residential program associate, said in a statement. ?The agreement sets out a process that will allow the state to work with experts in the field to develop credible case studies, data sets and resources for residential appraisers.?

Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the ?Real Deals? blog. Phone: 303-803-9232.

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Article source: http://www.bizjournals.com/denver/news/2012/10/09/colorado-signs-up-for-green-home.html

Loren is a long-time Denver real estate investor. He has bought, remodeled and sold homes throughout the Denver metro area. Loren has also invested in commercial real estate. He is an entreprenuer who has owned multiple businesses and is now a licensed real estate agent with Keller Williams Advantage Realty.

Source: http://denverrealestateblogger.com/1553/colorado-signs-up-for-green-home-appraisals/

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