Chicagoland Appraisal Blog FHA Appraisal Tip – Low Water PressureFebruary 28, 2018By John TsiaousisIf you have a deficient condition such as this you may want to repair it prior to an FHA Appraisal. Appraisers must operate faucets to observe water pressure and flow. This is an example that there is low water pressure and an FHA appraisal will be made subject to repair. Read more...Appraisals derail sales in the tight Chicago market!July 13, 2017By John TsiaousisI came across a Facebook post from an appraiser friend of mine about an article written in the Chicago Tribune titled Homebuyers who pay cash win deals as appraisals derail sale in tight Chicago market. The title is definitely eye-catching especially to an appraiser in Chicago. Read More...Get ready to be gouged on home appraisal feesMarch 14, 2017By John TsiaousisOn February 9, 2017, Sen. Pamela J. Althoff in the Illinois Senate introduced legislation that would remove a provision requiring written disclosure to a mortgage loan applicant of the total compensation paid to the real estate appraiser when the home appraisal has been ordered through an appraisal management company. Basically, the state's new legislation will increase home appraisal fees. Read more...Chicago Residential Lease for 2017January 26, 2017By John TsiaousisThe Chicago Association of Realtors has released the 2017 Chicago Residential Lease for apartments, condominiums, single-family homes, and townhomes. Read more...Appraiser pressure and where it’s coming fromMarch 31, 2016By John TsiaousisWhere is appraiser pressure coming from now? The same place where it has always come from, from those who have an interest in the property. Read more...Our free home appraisal winner is…March 22, 2016By John TsiaousisRecently, the Foundation For Prader-Willi Research (PWS) hosted an event in Deerfield, Illinois which raised $28,428. As a part of their charity auction, Chicagoland Appraisals donated a free home appraisal which was raffled off to incentivize donors. Read more...Three months of TRID and not bad so farFebruary 25, 2016By John TsiaousisIn our prior post, we only had one month of data which was for the month of November 2015. Now there are an additional two months of data and the effect of the Truth in Lending Act (TRID) isn’t so bad. Read more...Should I show buyers my prelisting appraisal?February 14, 2016By John TsiaousisThe last month has been quite busy with sellers getting ready for the spring market. Part of their preparation has included ordering a pre-listing appraisal. Read more...Chicago Residential Lease for 2016January 7, 2016By John TsiaousisThe Chicago Association of Realtors has released the 2016 Chicago Residential Lease where they talk about the important information for completing the lease. They also provide an update for the rate of interest on security deposits. Read more...The Early Indicators of TRIDDecember 29, 2015By John TsiaousisI decided to take a look at the effect of TRID in the Chicago real estate market. The local results are consistent with what is going on at the national level and that is the number of days from contract to close is increasing. Read more...
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