With more and more homeowners wanting to "go green" and California's solar panel requirement for new homes set to take effect in 2020, many in the mortgage industry have been working to figure out how solar panels impact home values. As with most elements to consider in real estate valuation, it is not a cut and dry dollar for dollar value. Some of the key items an appraiser must consider are if the panels are leased, owned, or financed, what is the typical buyer motivation, cost vs. savings, and of course the expected life of the technology.
We all know how much lenders and borrowers care about getting a fast turn time on their appraisals. This could mean making the appraiser's task simpler and easier, but it could also mean streamlining the appraisal review step as well. At United States Appraisal we use technology, to improve this important part of the process.