Help spread the word about green valuation issues
Letter to the Editor
By Inman News, Tuesday, March 19, 2013.
Re: 'Help sellers get fair value for home's
'green' features' (Feb. 7, 2013)
Dear Editor:
Excellent article to help raise the awareness within the real estate industry to this very important issue of value for the new and emerging asset class of "green real estate."
So many home owners (and commercial property owners) have put significant improvements in their property to make them energy efficient. But because the appraisal community didn't know how to value them, their energy efficiencies have been ignored.
This has created a huge void in establishing the empirical and historical
data that appraisers need to make an accurate, like-kind market analysis. Your
comment on sellers just saying no to an appraiser if they are not trained on
this topic, is brilliant. But it takes an educated seller and listing agent to
know to even ask the questions.
I especially appreciate you highlighting Sandra Adomatis's observation about lenders opening themselves up to future buyback or indemnification issues with Freddie, Fannie and FHA. I spent over two years as the national sustainability director for our parent company FNF, and the education gap on this issue in the lending and real estate community is huge.
Thank you for supporting this huge "next step" for the appraisal industry and hopefully the lenders and the Realtors will take note to give sellers the credit (pun intended!) they deserve for making improvements to make their property more energy efficient.
All of us in the industry can help to spread the word to raise awareness and continue to connect the green dots on the valuation vs. benefit issue for energy efficiency in the built environment, residential and commercial.
Michele Skupic
Vice president, Chicago Title Co.
Sacramento, Calif.
Dear Editor:
Excellent article to help raise the awareness within the real estate industry to this very important issue of value for the new and emerging asset class of "green real estate."
So many home owners (and commercial property owners) have put significant improvements in their property to make them energy efficient. But because the appraisal community didn't know how to value them, their energy efficiencies have been ignored.
Article continues below 
I especially appreciate you highlighting Sandra Adomatis's observation about lenders opening themselves up to future buyback or indemnification issues with Freddie, Fannie and FHA. I spent over two years as the national sustainability director for our parent company FNF, and the education gap on this issue in the lending and real estate community is huge.
Thank you for supporting this huge "next step" for the appraisal industry and hopefully the lenders and the Realtors will take note to give sellers the credit (pun intended!) they deserve for making improvements to make their property more energy efficient.
All of us in the industry can help to spread the word to raise awareness and continue to connect the green dots on the valuation vs. benefit issue for energy efficiency in the built environment, residential and commercial.
Michele Skupic
Vice president, Chicago Title Co.
Sacramento, Calif.
| Contact Inman News: |
No comments:
Post a Comment