Woody Fincham, SRA, AI-RRS, RAA, Member of RAC is the founder and President of Fincham, Nichols
leadership for Accurity Valuation. Woody specializes in high-value residential homes, conservation
easements, high-performance homes, review and consulting as well as both lender-based and
non-lender-based work. He has been a featured panelist at the Association of Appraiser
been a non-member participant in the Collateral Risk Network (CRN) and is one of the national
instructors for the Appraisal Institute on residential topics.
APPRAISAL BUZZ FALL 2019 | 51
choose an Appraiser educated and
knowledgeable in this type of valuation of
these specialized Homes, preferably an
appraiser who holds a professional appraisal
designation that requires advanced education
on such issues as the valuation of sustainable
buildings (e.g. MAI or SRA designations from
the Appraisal Institute). The appraiser shall
educational provider and knowledge to be
permitted to conduct the appraisal for this
I wrote a blog for appraisers last year that deals with
what appraisers can do to help themselves
become competent. This specialty practice now has
a strong demand that shrewd business practitioners
should take advantage of. Appraisers seem to not
be grasping at the opportunities they have available.
The classes and materials out there are not
extremely expensive. Get in front of your local
builders and agents and help educate them. There
is money to be made out there ethically.
LENDERS AND APPRAISAL
The lenders and Appraisal Management
Companies (AMC) should be making sure the
borrowers will often not mention or know the home
under contract needs such expert valuation services.
I sometimes get on-site for a lender and must call
them and explain that the subject home has a large
solar array and is a platinum Pearl home. It is not the
lenders fault that the borrower failed to communicate
the information to them. Looking forward, I do hope
that the lenders are asking about high-performance
features during the application process.
If you are a lender or work with an AMC, there is a
great resource through the Appraisal Institute (AI)
that anyone may take advantage of. You can locate
appraisers that are trained in the valuation of green
homes through their online registry. This is such a
great resource that the AI allows non-AI members to
be included on the registry. There truly is a
responsibility on the lenders side that extends to the
AMCs to locate and utilize competent appraisers.
appraisers based on high-performance homes.
Some do ask if I do them, but they never ask for
sample reports which demonstrate competency
(something required by the secondary market
and complex assignment type for both agents and
appraisers. The only way to competently accept this
work is to get educated and get some experience to
do the work. For agents who can advocate for their
clients, it is important that you communicate what
you are selling to the consumers, to the lenders, and
their inspections. That is a lot of responsibility,
remember to be mindful of it.