October 2013
| Business World Magazine | 241
praisal Institute, the nation’s largest profes-
sional association of real estate appraisers,
updated forms to now help analyze and cal-
culate values of energy efficient home fea-
tures. This move expanded on the Institute’s
2011 Residential Green and Energy Efficient
Addendum utilized as an optional adden-
dum to Fannie Mae Form 1004 which has
been the most widely used valuation model
used in mortgage lending practices. The new
updated addendum reflects input from the
U.S. Green Building Council as well as the
National Association of Home Builders. The
Appraisal Institute is also continuing to add
educational programming to further assist
appraisers in identifying and assessing ap-
propriate valuations for green building, and
Morrow indicates these are positive steps
that help promote clearer understanding and
opportunities in the market.
Morrow says it is essential that home-
owners contract with professionals who gen-
uinely understand what sustainability means
and have been trained to approach it in a sys-
temized manner, saying that green building
isn’t simply about energy efficiency, water
conservation, better insulation, technology
integration or any other singular nuance. As
a system, Morrow says sustainability is rep-
resented in the way all the separate pieces
work together to reduce impact on the en-
vironment, increase performance and create
greater value for a homeowner.
To learn more about the ICC 700
Green Building Standard and how to be-
come certified as a green builder, or details
on the variety of other services and programs
offered by theNational Association of Home
Builders, visit the NAHB website at www.
nahb.org.
