Update on Appraisals

A popular webinar offered by NAHB's Housing Finance and Business Management & Information Technology committees and sponsored by Builder Partnerships on August 4 provided some sound advice for builders who have had trouble obtaining accurate appraisals for new homes. At the very top of the list is the need to improve the lines of communication between builders and appraisers, said panelists. While such communication channels have been impaired for some time now due to difficulties in interpreting the Home Valuation Code of Conduct that was put in place by Fannie Mae and Freddie Mac, newly issued policies from both of these agencies attempt to correct that problem.

In addition to making it clear that builders may and should provide information to appraisers, the guidance also clarified the appropriate use of distressed home sales as comparables, stated that lenders may not unilaterally change appraisal reports, and reiterated that appraisers must have appropriate knowledge and experience to undertake specific assignments. See the rest of this article from NAHBs Nation's Building News here.

To see the presentation from BuilderPartnerships.com click here:
Builders Guide to Appraisals: Obtaining Accurate Valuations on New Homes

Green Appraisals

A topic of interest for our builder members and real estate pros is the way homes, especially green-built homes, are appraised. It seems that there is a huge gap in the knowledge-base between builders and appraisers and the buyer/seller is losing out on a lot of built-in value.

There is an article about this in the latest issue of Green Builder Magazine that is worth a look. Learn how to communicate with your appraiser (yes, you are allowed to), when you should bring them into the process and what you should present in order to get the best appraisal for your green home.

Going green takes root with builders

HBA Green Building Council members David Watkins and Mark Bostic are interviewed in this article from The State newspaper about their personal certified green homes here in Columbia. To learn how to make your next new home green, visit our website at ColumbiaGreenBuilders.com.

Read the article here: Going green takes root with builders - TheState.com