February 2014
| Business World Magazine | 85
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 homeown-
ers contract with professionals who genu-
inely 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 become certi-
fied as a green builder, or details on the vari-
ety of other services and programs offered by
the National Association of Home Builders,
visit the NAHB website at
.
