13 Ch11 Green Building quiz - Sheet1 Flashcards
What term is defined as “Of, or relating to, or being a method of harvesting or using a resource so that the resource is not depleted or permanently damaged”?
sustainable
Green building principles can be used in ___________________.
Residential properties, New buildings, Renovation and rehabbing buildings
“The practice of creating structures and using processes that are environmentally responsible and resource-efficient” is the definition of:
green building
What is the Green Building Finance Consortium?
a group of corporations and trade groups that are addressing the need for independent research and analysis in investment in green buildings
Which of these would you be MOST likely to find in a green community?
hiking trails and recreation areas, higher-density built-up areas with large green space areas, development of retail or office uses
Green building is often called:
sustainable building
According to ENERGY PULSE, 86% of Americans:
would choose one home over another based on energy efficiency
What is “green washing”?
when a person falsely claims a structure is green without a third-party certification
What is the most common type of value sought by real property appraisers?
market value
Which statement is TRUE regarding market value?
There are many different definitions of market value.
The value of some green properties could be affected because:
they may be difficult to finance
According to USPAP, a property’s “green” features:
would be considered relevant property characteristics
Under USPAP, an appraiser is not permitted to be a/an _________ or to perform assignments with ________.
advocate, bias
In a properly-developed market value appraisal on a green property:
the prospect of future energy savings is built into the process
A non-green home sells for $750,000, while a similar-size green home in the same neighborhood sells for $810,000. What is the indicated bonus value?
8%. $810,000 ÷ $750,000 = 1.08 or 8%.
A ________ value can be extracted from another market, another price range (expressed as a percentage), or from old sales.
Bonus
If an on-site sewage system is used, the system should be situated:
Below the house to eliminate the need for pumps
To take advantage of passive solar heating, a house should be situated on a ________ - facing slope.
South
It is not recommended you use the words “certified” or “green” in any appraisal report without ______________.
Having a certification concerning the property
Energy Star is a program of
The EPA.
A non-green home sells for $650,000, while a similar-size green home in the same neighborhood sells for $760,000. What is the indicated bonus value?
17%. $760,000 ÷ $650,000 = 1.17 or 17%.
The Certified Green Professional designation is offered through the
NAHB, National Association of Home Builders
With respect to location, one of the most significant trends in commercial green building is:
Re-use of existing building sites
In a properly-developed market value appraisal on a green property:
the prospect of future energy savings is built into the process
“sustainable” can be used to refer to the _________ in construction.
methods, materials, operating costs
In the Cost Approach, if a green building costs 20% more than a conventional building, but the market only will pay a premium of 15% for a green building, the other 5% is attributable to:
functional obsolescence
An alternative method of extracting an adjustment is asking people who are knowledgeable in the market (buyers, sellers, agents, brokers, other appraisers) what the contributing value of a feature would be. This method is called
Market survey. An alternative method of extracting an adjustment is asking people who are knowledgeable in the market (buyers, sellers, agents, brokers, other appraisers) what the contributing value of a feature would be.
The valuation of green buildings today is analogous to the valuation of buildings with ________________ 50-60 years ago.
air conditioning
All of these statements are true about sustainable design
It is applicable to new construction, It is used for remodeling existing homes, It is applicable to residential construction
Sustainable design considers the
entire life cycle of the building
In the Income Approach, all of these factors increase value
higher building rents, lower maintenance and utility costs, lower vacancy rates
