Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



So, if someone told you that nearly 70% of a given group of people were succeeding, might you get excited?  Possibly if 70% of everyone who invested in the stockmarket made money, might you take note and maybe even follow along?  Possibly if 70% of all people who played the lottery actually won s...
  Granted, we all know the economy has not been kind to many merchants, retailers and businesses, but golf courses and resorts?  Yep, those too. Earlier this week, Crain's Chicago Business reported that Pheasant Run Resort in St. Charles is in foreclosure and the 50 year ownership by the controll...
In the past week, as residents of Chicago and Cook County, Illinois, prepare to receive their second quarter property tax bills, little do they know that 'although minor' the cumulative increase in the total amount of property taxes collected exceeds $300 million.    Of course, on an individual l...
  Last week, Cook County Clerk David Orr released the 2010 property tax rates for Chicago and Suburban Cook County.  And residents learned that they will be receiving second installments in the next couple weeks as well.  For 2011, tax rate imposed by Cook County in 2010 is up 7.36%.   Furthermor...
In light of the recent announcement that property taxes in Cook County are again on the rise, it came as further surprise to learn that less than 20% of all property owners in Cook County appeal their taxes. Granted, I'm not advocating that everyone has to appeal their taxes, but if only 20% of p...
Some Good News Chicago...even if temporary in nature. Foreclosures dropped significantly in the first half of this year according to Woodstock Institute. Chicago region saw 8,515 foreclosure cases completed at auction in the first half of 2011, a 50.9% decline from the first half of 2010, accordi...
Yesterday, Cook County Clerk David Orr released the 2010 property tax rates for more than 1,500 taxing agencies in Chicago and Suburban Cook County.  In summary, the tax rate imposed by Cook County in 2010 is up 7.36%, by the Water Reclamation District 4.98%, and by the city of Chicago 3.04%. And...
Granted, most people associated 'south side' foreclosures with Englewood and Roseland and Calumet City, but there is a great diversity in the 'south side' of Chicago. As previously posted on the topic of mansions, there are a number of residences of 7,000 and 8,000 square feet in the Chicago and ...
  This week the local business newspaper, Crain's Chicago Business, announced that Joe Mansueto, founder of Morningstar, the mutual fund research company, has acquired a nearly unheard of 8 contiguous lots in the proximity of Lincoln Park.  For those that know the area, this is quite a feat. Of c...
Well, I have to say it was with some relief that I actually read an article which indicated that although Illinois ranks as one of the worst, the topic was not housing or real estate related.  Unfortunately, the ranking does have tangential impact on housing.  Every 3 years, Development Counsello...

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