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December 21, 2014

Appraisal Institute to Study the Value of Green

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Appraisal Institute to Study the Value of Green

The Appraisal Institute is teaming with the Colorado Energy Office to asses energy efficiency and green features on the value of existing homes. The appraisal trade group says they are taking part in the study to help them better take into account green and energy efficient features when valuing homes.

"Although energy improvements can have a significant impact on the total cost of owning real estate, a lack of recognition of potential value can prevent buyers and sellers from making cost-effective upgrades," according to a document detailing the Appraisal Institute’s agreement to work with the Colorado Energy Office. 

The Appraisal Institute and Colorado Energy Office will use their findings to develop a curriculum for appraisers to use in when valuing green buildings. The findings will also be used to develop universal appraisal forms for reporting energy performance, Inman News reports. 

Source: “Study to Gauge Impact of ‘Green’ Features on Home Values,” Inman News (Oct. 9, 2012)

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