Course Criteria: Appraising Energy Efficient Homes

All distance education seminars must meet the Distance Education Standards established by Distance Education Certification Center (IDECC).

All seminars must be approved for Appraiser continuing education by the appropriate state regulatory bodies.

All synchronous or asynchronous seminars at a minimum must meet the following learning objectives in a minimum of 7 hours.

1. Introduction to appraising energy-efficient homes

• What is an Energy Efficient "Green Building"?

  • • What are the components of energy efficiency (water, energy, waste, indoor air quality, sustainability)?

    • What are the systems of energy efficiency (heating, cooling, electric)?

    • What are the building materials in an energy efficient building?

    • Energy efficiency versus Sustainability

2. The following should be defined during the seminar:

• Energy Efficient Programs:

  • • National Programs

    • State Programs

    • Local Programs and Building Codes (The need to know what exists in your market)

• Solar:

  • • What is it

    • What are the systems and their components?

    • Calculations

3. Identify the secondary mortgage market GSEs (government-sponsored entities):

• What do they currently look for in an appraisal of energy-efficient homes where an adequate number of paired sales are not available

• Scope of Work Considerations:

• Site Inspection Issues and Considerations:

• Form for Appraiser to fill out property owner (to be developed)

1. • Data Collection Issues and Considerations

4. Cost Approach:

• How to accurately obtain cost

• Functional depreciation considerations

• Interviews with market participants (consumers and providers)

• Examples

5. Income Approach:

• How to gather accurate data to determine cost savings

• How to develop a residential cap rate

• Examples

6. Sales Approach:

• How to find comparable sales

• How to calculate paired sales

• Regression Analysis

• Interviews with market participants (consumers and providers)

• Examples

7. Reconciliation:

• Comments, explanations and rationale

• Support

• Assumptions

8. Case Study

• One case study that demonstrates how to use both the income and cost approach in supporting the value opinion

9. Competency:

• Core competencies requisite to become a real estate appraiser, i.e. ability to perform income approach, cost approach, and market approach to value

• Geographic competency, all that can be overcome by working with another appraiser in that region

• Adherence to USPAP STANDARDS 1 and 2

• Using the tools identified in the seminar

• Obtaining more knowledge and information from Calypso or AI in more advanced seminars