Appraisers Confident Fannie/Freddie Will Back Mortgage Loan When Using PV Value®
The Arizona Republic - July 17th, 2015
...."The PV Value® tool generates a real number," (Rick) Sagoo said. "It has proof behind it. We know Fannie/Freddie will back that loan if we use the PV tool."
The PV Value® tool calculates the value of electricity solar panels are estimated to generate through the rest of their warrantied lifespan. Some customers are frustrated that the number is lower than the cost of the solar panels.
Sagoo said many home sellers argue that because they paid $20,000 or $40,000 for solar panels, that is the value they should add to the home.
But the PV Value tool instead computes the amount of money the home will save in electricity thanks to the panels, and adds that value to homes. Thus, an average-sized solar array that is a few years old might add $6,000 to $10,000 in value to the home....News Article