Chicagoland Appraisal Blog How Old Comparable Sales Are Used to Appraise Current Home Values?June 7, 2021By John TsiaousisIt is pretty common knowledge that appraisers should select the most recent home sales as comparables. The question then becomes why would an appraiser use old comps? Fannie Mae Guidelines on Age Comparable Sale First, let’s take a look at what Fannie Mae guidelines say about the age of comparable sales. “Comparable sales that have closed within the last 12 months should be used in the appraisal; however, the best and most appropriate comparable sales may not always be the most recent sales. ...Read More Home Appraisal 101: Maximizing the Value of Your HomeMay 13, 2021By John Tsiaousis...Read More How accurate is a Zestimate vs a Home Appraisal?April 11, 2021By John Tsiaousis...Read More After Covid-19, Home Market Activity in Chicago is Starting to Get OptimisticApril 29, 2020By John TsiaousisLast week we saw some optimism as homes under contract in Chicago experienced stable increases for the 3rd week in a row. This week the optimism continues as new listings jumped up from 78 to 125. Closed sales experienced an uptick for the 3rd week in a row as well as listing under contract experienced an uptick for the 4th week in a row. Chicago Homes Under Contract Experienced Optimistic Increases 3rd Week in A Row During COVID-19 Stay At Home OrderApril 22, 2020By John TsiaousisAt this point it's no surprise that home market activity in Chicago came to a screeching halt in the last 6 weeks. The most recent reading of Chicago's home market activity has seen the breakneck decline begin to flatten out. Some optimism is in order as listings under contract have experienced stable increases for the 3rd week in a row (scroll to bottom). How To Still Get Home Appraisals Done During COVID-19 & It’s Impact on Home ValuesApril 10, 2020By John Tsiaousis...Read More How to Sell Your House Fast in Chicago with Targeted Updates and Spot-on PricingApril 3, 2020By John TsiaousisThe Windy City is home to more than 2.7 million permanent residents. And as any true Chicagoan knows, selling a house in this city won’t be quite as simple as a stroll along the lake or an afternoon at the ballpark. A city with a long, rich history also has older housing stock. According to data from governing.com, Chicago has nearly 550,00 housing units built before 1939 or earlier. Which types of homes tend to be most attractive to buyers? You guessed it— the updated ones. But not everyone ...Read More How to Build Equity in Your HomeJanuary 21, 2020By John TsiaousisChicagoland Appraisals had the privilege to be featured on Redfin amongst other top appraisal companies across America to give the best way to build home equity in America. Building home equity is one of the many financial benefits to homeownership, but sometimes it’s hard to know where to start. Increasing your property value through renovations or home additions, and paying off your mortgage, seem like the most straightforward ways to build equity. But there are also some factors ...Read More 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...
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