When Green Poses an Appraisal Problem

first_imgAlthough the couple, Gail and Larry Berberich, had no trouble securing a loan to build their home two years ago, their quest to refinance was thwarted by the relative isolation of their home, which meant lack of sales comparables, and a lending climate in which banks that want to eventually sell portions of their mortgage portfolios on the secondary market require not only excellent borrower credit scores but compliance with stricter appraisal guidelines set last month by secondary-market company Freddie Mac.Appraisal concerns – many of them focused on appraisers’ knowledge of green construction, but also on a lack of comparables – also dog the commercial market, notes a story recently published by the Daily Journal of Commerce, in Portland, Oregon.But in home construction, at least, builders likely will do their utmost to find appraisal workarounds until green construction becomes more common. Mike Vilstrup, a builder and president of the Madison Area Builders Association, told the State Journal that he had no problem getting financing to construct two green-certified homes this year.“If you work with your lenders and everybody attacks it as a team, there are ways to make things work,” he said. In the same press release the National Association of Realtors reported a 2.4% uptick in existing-home sales for May, the group also repeated its concerns about appraisal methods that, according to NAR economist Lawrence Yun, “compare traditional homes with distressed and discounted sales.”That has been an issue, of course, for almost everyone in the building trade and real estate business since distressed and foreclosed properties began flooding the market more than a year ago. But appraisal problems, particularly in today’s risk-averse lending climate, are not always related to disparities between standard listings and homes with troubled financial histories.In some markets, a dearth of appraisers familiar with green construction – or perhaps even more critically, a scarcity of nearby listings with comparable green features – can frustrate prospective homebuyers and homeowners who wish to refinance.The comparables questionOne otherwise creditworthy couple in a rural section of Wisconsin’s Richland County found themselves unable to refinance because their home, built two years ago, has ICF walls and an outdoor wood-burning furnace – two features that are apparently unique in their area, according to a recent story in the Wisconsin State Journal. RELATED ARTICLES Seeing Red on a Green Property Appraisal — Part 1Seeing Red on a Green Property Appraisal — Part 2Seeing Red on a Green Property Appraisal — Part 3Green Building Appraisal and Financing IssuesGreen Home Appraisal WoesA Step Toward Fairer Green Home ValuationsGetting a Grip on Green-Home Appraisals and InsuranceQ&A: Bad Appraisal on a New Green HomeQ&A: Refinance and Appraisal of Net-Zero Homelast_img read more

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Video Tutorial: How to Use Premiere’s New Freeform View

first_imgView and organize assets while simultaneously storyboarding a sequence in Premiere Pro — with Adobe’s new fabulous Freeform feature.Adobe Premiere’s Project panel received a major upgrade in the latest release of Creative Cloud (Spring 2019). With the new Freeform feature, users can now view and organize assets in a uniquely visual way. Whether you want to simply group assets categorically by metadata, or create a complex storyboard, this new tool is here to help. You’ll find the Freeform button at the bottom left-hand side of the Project panel, next to the Icon and List view buttons. Let’s take a closer look at how it works. Stay OrganizedAs the name implies, you can now move clips around freely in the Project panel. Unlike Icon view, your clips won’t automatically snap into a grid placement. You can, however, quickly align assets via a simple Right-Click > Align to Grid. Freeform also allows you to stack clips on top of each other to group them together. This can be very useful when you’re organizing assets, and it can be a substitute for bins. To quickly cycle between stacked clips, simply hover your cursor over an asset, or use the arrow keys. In addition to the slider bar at the bottom, you can now right-click on a clip and change its size, independent of other clips. Use this to signify the importance of key shots or sequences. You can also display two lines of metadata information underneath a thumbnail. To specify which metadata you’d like to show, go to Panel Menu > Freeform View Options. Storyboard Your ProjectOne of the interesting features of the Freeform layout is that you can use it to storyboard a sequence. Simply use the size adjustments, and drag and drop your clips into a sequence. As in Icon view, you can use the J, K, and L keys to play back, and even set In and Out points. For an easier storyboarding experience, customize the Poster Frame of each clip. Once you have your In and Out points for each shot, grab and drag everything into your sequence. Now you have a rough cut and are ready to do some fine-tuning in the Timeline panel. Sorry, (Source Monitor, it’s time to pack your things. Security will escort you out.)Save Your LayoutFor a streamlined workflow, I can save custom Freeform layouts. In this example, I’ll create one for Grouping and one for Storyboarding. For this, simply right-click in the Project Panel, and select Save as New Layout. Now I can quickly jump between these views, and even create multiple storyboards. Video is a visual medium, so why not organize your footage that way?Looking for more video tutorials? Check these out.6 New Features in Premiere Pro’s Essential Graphics PanelHow to Perfectly Position Your Content in Premiere Pro 2019Tutorial: Getting Started with Content-Aware Fill in After Effects5 Ways to Animate with Trim Paths in Adobe After EffectsHow to Create the Double Exposure Effect in Four Manageable Stepslast_img read more

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WB Governor sends report to Centre

first_imgWest Bengal Governor Keshari Nath Tripathi has sent a report to the Centre on Friday on the ongoing violence in Darjeeling over the demand for a separate Gorkhaland State. “In the report, the Governor said all the stakeholders involved in the Gorkhaland issue should try to resolve the matter through discussion and restore peace in the Darjeeling hills,” sources in the Raj Bhavan told The Hindu.Earlier on Friday, a delegation of three Gorkha Janmukti Morcha (GJM) MLAs — Amar Singh Rai, Rohit Sharma and Sarita Rai — met the Governor and apprised him of the situation in Darjeeling. “The GJM delegation also stated that the State government is yet to issue any formal order stating that Bengali will not be made compulsory in the schools in the hills,” sources in the Raj Bhavan said. ‘Outsiders’ work’Addressing the media after the meeting, Mr. Sharma claimed that “those who are indulging in arson in Darjeeling are not GJM members but outsiders.” He also said the delegation had urged the Governor to “inform the Centre about the situation in Darjeeling and the suffering of the locals due to the State government’s stand over the Gorkhaland issue.”The GJM delegation also accused the State Government of “using force to disrupt the peaceful movement for the separate State.” (With PTI inputs)last_img read more

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