To ensure that a home’s green and/or energy efficient features and equipment are taken into account during an appraisal, it is important to document the home’s energy efficiency features in a standard format. Existing homes may have higher energy efficiency or green standards than many others on the market because a current or previous owner has implemented a whole-house energy upgrade, or installed green or high-efficiency equipment and features. Homes like this typically perform better than homes built during the same period or earlier. There are several steps contractors can take to help the buyer assure a competent appraiser is selected.
BCAP is proud to announce a new resource for REALTORS® developed by BCAP, the Appraisal Institute (AI) and the National Association of REALTORS (NAR). As homes are increasingly listed with energy efficient features in Multiple Listing Services (MLSs) around the country, it is important for real estate professionals to both understand the benefits of energy efficiency, and how to best communicate with clients about efficiency. When they understand the impact that efficiency upgrades can have on new or existing homes, real estate professionals can advise and refer clients to additional actions they can take to further improve home performance.
Consumer demand for energy efficiency is a topic energy code advocates need to understand. We want to know the answers to questions like “do consumers believe in conserving energy through increasing energy efficiency in their homes?” and “how much are consumers willing to pay for home improvements for efficiency?” so that we can make a stronger case for our support for energy efficient building codes. Recently, BCAP looked at four major consumer surveys and summarized their findings in a fact sheet. Although the surveys were conducted by various organizations, the findings led to a strikingly similar conclusion: Consumers want and expect energy efficiency when buying a new home.
Energy efficiency can be overlooked in the appraisal process for a variety of reasons, including a lack of access to quality data, underwriting impediments, and appraiser qualifications. Many appraisers may not be aware of the unique features of an energy efficient home. There are several steps builders can take to help the buyer assure a competent appraiser is selected.
October is the designated national month for energy efficiency. As President Obama states in his 2012 proclamation, we must “recognize this month by working together to achieve greater energy security, a more robust economy, and a healthier environment for our children.” Energy efficiency is considered to be the US’s greatest energy resource, and it is never too late to take action on this issue.
New results from a statewide consumer survey in Idaho show that consumers there value energy efficiency in new homes and are willing to pay more for it. In addition, two out of three Idahoans agree that the state should adopt a state energy code consistent with national standards. The majority believe that energy efficient homes increase the resale value of a home.
A new survey found that Omaha residents overwhelmingly favor improved energy efficiency through updated energy codes for new homes and buildings. The study comes at a key time as Omaha’s City Council is set to vote on requiring greater energy efficiency in new homes, allowing homeowners to keep thousands of dollars in reduced energy bills as early as August.
On March 20, BCAP participated in a congressional briefing hosted by the Environmental and Energy Study Institute (EESI) on consumer attitudes toward energy codes. The event included presentations by Maureen Guttman of the Building Codes Assistance Project (BCAP), Stacy Weisfeld of Consumers Union, and Laura Richardson of the New Hampshire Office of Energy and Planning.
Read and download factsheets providing helpful information for consumers, policymakers, and advocates.
Thanks to the new partnership between BCAP and Consumers Union, user-friendly, interactive online guides and downloadable publications are helping homeowners and buyers save energy and money by teaching them the potential of building energy codes to address and improve home energy performance.