New Appraisal Institute Addendum for Green & Energy-Efficient Homes Specifies NGBS

Earlier this year, the Appraisal Institute released an updated form intended to help analyze values of green and energy-efficient home features. The new form specifically provides an opportunity for a property to be identified as certified to the ICC 700 National Green Building Standard (NGBS), as well as LEED.

The Institute originally issued its Residential Green and Energy Efficient Addendum in September 2011, as an optional addendum to Fannie Mae Form 1004, the most widely used form for mortgage lending purposes. Form 1004 devotes limited attention to energy-efficient features, so green data usually doesn't appear in the appraisal report, or it is included in a lengthy narrative that often is ignored. The updated five-page green addendum, which reflects input from both NAHB and USGBC, now allows appraisers to identify and describe a home's green features, from solar panels to energy-saving appliances.

For more information on how to use the addendum for the benefit of Home Innovation NGBS Green Certified projects, contact us.

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ABOUT: Home Innovation Research Labs, located in Upper Marlboro, Md., is a full-service research, testing, and consulting firm determined to improve the quality, durability, affordability, and environmental performance of single- and multifamily homes and home building products – in short, we aim to perfect the home. Founded in 1964 as a subsidiary of the National Association of Home Builders (NAHB), our team has been integral in solving many of our client’s most difficult product and technology issues, and helping to introduce some of the most groundbreaking innovations in construction. Through an interdisciplinary research approach – including market research, building science analysis, laboratory testing, and standards development – we help to find a home for innovation in the construction industry.

NOTE TO EDITORS ON STYLE USAGE: To identify this company and its work correctly, first reference should be "Home Innovation Research Labs." In subsequent mentions, “Home Innovation” should be used; we are not identified by an acronym. Prior to February 12, 2013, the company was known as the NAHB Research Center.