Solar Panels

[FMV]

Good Morning AF-

So, we attempted to search for previous comments posted here for solar panels.. we have a difficult AMC-(nothing new).. requesting comments when its not even mentioned in the EL!!
IMO.. these are PERSONAL PROPERTY as living in TX, they look UGLY... IMO and look out for hail damage!! LOL!! But they look like they could be removed by some type of professional, but then again Im not a solar panel expert.

Placed comment in the report about that as a Component, they deliver future energy savings-(if you like to see that monstrosity on your roof.. but commented on the contributory value and cost to remove or maintain!

IDK.. I still think they ugly... lol

 

[Delvec]

Look at The Fannie Mae selling guide and search solar panels.

Selling Guide

selling-guide.fanniemae.com

 

[DWiley]

Good Morning AF-

So, we attempted to search for previous comments posted here for solar panels.. we have a difficult AMC-(nothing new).. requesting comments when its not even mentioned in the EL!!
IMO.. these are PERSONAL PROPERTY as living in TX, they look UGLY... IMO and look out for hail damage!! LOL!! But they look like they could be removed by some type of professional, but then again Im not a solar panel expert.

Placed comment in the report about that as a Component, they deliver future energy savings-(if you like to see that monstrosity on your roof.. but commented on the contributory value and cost to remove or maintain!

IDK.. I still think they ugly... lol

So, you did not consider their possible contribution to the value of the real property because of your personal beliefs about their aesthetics?
As you admit to lack of expertise in the area, did you disclose that to the client, as required by the COMPETENCY RULE? Given the stated lack of expertise, how did you derive a contributory value? Even if you said that value is $0, how did you support that?

 

[FMV]

So, you did not consider their possible contribution to the value of the real property because of your personal beliefs about their aesthetics?
As you admit to lack of expertise in the area, did you disclose that to the client, as required by the COMPETENCY RULE? Given the stated lack of expertise, how did you derive a contributory value? Even if you said that value is $0, how did you support that?

OMG.. this type of SH*# comments is the reason why I have not used this forum much anymore!! Case in POINT-RIGHT HERE!!
Has nothing at all to do with my competency!! amateur!!!

 

[redfish]

Wow.

I don't think you are competent in the appraisal of a home with solar panels based on your post. It also seems like you completed an appraisal assignment with bias. You might hate solar panels but is that indicative of the market?

 

[GWISC]

DWiley is not being nasty. He is instructing you. Yes, it may look like harsh criticism, but I see it as instructional. I would take the constructive line of questions he posed and apply them to your report. He has corrected me on an item or two in the past and I am grateful for the instruction. I know a lot about appraising, but I realize there are many who know more. They are called instructors. Never stop learning.

 

[djd09]

did they ask you to comment about the future savings of the toilet water saver

 

[J Grant]

Unless there are enough solar panel comps to extract an adjustment -it is a problem, because while we can calculate a future energy bill savings., the question remains, how much is a borrower willing to pay upfront for those savings ? ( if anything )

If for example a projection of energy savings based on being in a house 10 years is $18,000. Why would someone pay 18,000 at purchase to save 18,000 ? That is a wash with zero gain, - But what if they could get 18k in future savings by paying 9k more at purchase ? A better deal.. What if they could get 18k in future savings by paying 5k more at purchase? An even better deal

This is one of the times where getting feedback from local area RE agents is helpful. How many of their buyers ask for solar panels ? What are buyers willing to pay as a premium for a house with solar panels ? Have they ever listed a house with solar panels, and if so, what was the reaction?

 

[DWiley]

Has nothing at all to do with my competency!!

Well, actually, it does, since you stated, "Im not a solar panel expert" and "IMO.. these are PERSONAL PROPERTY" It is not the appraiser's personal views that determine whether an item is personal property or real property.

Appraisal of properties with solar panels requires one to have the necessary expertise. If the report was delivered on a standard GSE form, the appraiser has to actually certify to that expertise (see cert 11).

As I have said several times on this Forum, the AI has excellent classes on the topic. I highly recommend them

 

[Terrel L. Shields]

Has nothing at all to do with my competency!!

When you seem unaware that the selling guide has the answer, then your competency has to be questioned. Do you not do FNMA work occasionally? As for finding anything on solar panels, the subject has been beat to death on the forum. This is a recent one. While not overly common here, there are plenty of them, whether I find them ugly or not, and the market data tells me the answer... are they leased, are they owned outright, lease-purchase, etc. Then you can determine if 'personal property'... officially, by the textbook, anything attached is either real property, or it is a trade fixture. "Fixtures" -appliances, etc. are real property. "Trade fixtures" are owned by someone else, and if on lease purchase with an UCC financing are treated as personal property.

Solar Panel Adjustment Lack of Data

Subject is a manufactured home in a community of manufactured homes (about 100 in the community). Manufactured homes are not common in the area and none are nearby except in this community. I did not find any sales with solar panels historically in the community and did not see any solar...

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