Chicagoland Appraisal Blog Illegal Chicago Apartments in Basements, Attics, & Coach HousesMarch 17, 2024By John TsiaousisAs a property owner, it's common to field questions about the legality of apartment units like those in a basement, attic, or coach house. Often, owners are unsure and default to "it was there when I bought the property." But why does it matter if it's a legal unit? Demystifying the Pronunciation of Tsiaousis: A Guide for Chicago HomeownersJuly 12, 2023By John Tsiaousis...Read More How Long Does A Home Appraisal Last?May 19, 2022By John TsiaousisClients often ask, “How long is an appraisal good for?” The short answer is that every real estate appraisal value opinion has an effective date. The appraisal’s value estimate is only good for as long as the effective date. The effective date might just be a defined full day (past, present, or future) or just the moment that the appraiser was viewing the property. If a natural disaster hit the property immediately after the appraiser left, the actual value would instantly change, so an ...Read More Lunch & A Divorce Lawyer LIVE with Attorney Peter Olson and John TsiaousisMarch 21, 2022By John Tsiaousis...Read More Zillow Upside Down on 93% of Their Portfolio in One Housing MarketNovember 8, 2021By John Tsiaousis...Read More 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).
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