@article {Goodman6, author = {Laurie S. Goodman and Jun Zhu}, title = {PACE Loans: Does Sale Value Reflect Improvements? }, volume = {21}, number = {4}, pages = {6--14}, year = {2016}, doi = {10.3905/jsf.2016.21.4.006}, publisher = {Institutional Investor Journals Umbrella}, abstract = {This article determines how the resale value of homes with PACE (Property-Assessed Clean Energy) improvements and financing compare with similarly situated homes that have no PACE involvement. The authors use a number of different methodologies to show that the net impact of PACE on resale value of a home, after taking into account the cost of improvements, ranges from $199 to $8,882. Moreover, the premium for PACE homes purchased out of foreclosure was closer to the higher end of the range. They conclude that a home with a subordinate PACE loan will provide collateral for FHA and GSE recoveries in a foreclosure sale that is at least as high as comparable properties without PACE improvements.TOPICS: MBS and residential mortgage loans, legal/regulatory/public policy}, issn = {1551-9783}, URL = {https://jsf.pm-research.com/content/21/4/6}, eprint = {https://jsf.pm-research.com/content/21/4/6.full.pdf}, journal = {The Journal of Structured Finance} }