Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



In today's market, there are many scary things....haunted houses, extended time on the market, never-ending inventory of distressed homes, increasing trend towards short sales, and even undisclosed foreclosed inventory...but the scariest thing of all?  Yep, you guessed, a real estate appraiser......
It has been several weeks since I last caught up with our client, Cherry Picker Investments, regarding foreclosure auction purchases in Chicago, Buffalo Grove, Oak Lawn, and Buffalo Grove. So, here's a recent sampling of properties acquired by real estate investors. Per Bardan Azari, Cherry Picke...
Always good to reach out and let those who know people know that we are looking for a few good people. We have been fortunate to maintain our growth, slow and steady, by referral.  And even in this challenged real estate market around Chicago, there is a strond demand for talented, proficient and...
In today's market, with 24/7 information, PDAs & Smartphones which can instantenously provide data, and a herd of firms all supplying their version of local market data, it is easy to be caught up in the 'winds' of change. Granted, it may be a light breeze or it may be a gale force, but nonethele...
I was reading with interest the right way to prune shrubs and trees as the weather in Chicago & the surrounding suburbs is changing.  One interesting I noted was the similarity of pruning trees to pruning a market of distressed real estate.  No where in the article did the Katrina Lewin, a hortic...
It seems a day doesn't go by when there isn't some information about housing, sometimes upbeat, many times dismal.  This morning, I was reading a summary of data presented by LPS.  Their Mortgage Monitor indicated that the average borrower spends 611 days in foreclosure before banks repossess the...
In an earlier musing, the thought of the National Football League, Chicago Bears, being a positive or negative correlation for the Chicago housing market was put forth.  To the amusement of many and comments of a few, there was at least some willingness to allow the mind to wander into the realm ...
At one point this past week, amidst the barrage of new housing data reports, I found myself asking: does it matter?  And then it dawned on me, I might not be the only one asking that question.  A quick survey of a couple others in Chicago and the general response went something like this: it's no...
Depending on what your local market looks like, you either wonder which of the abandoned homes is Waldo hiding in or you wonder whether there will even be another foreclosure because the market is bouyant.  No matter which scenario yours may be, we would all agree that at time it can be tough to ...
While I will be the first to admit that I don't always have the best idea, I would like to think that sometimes I have a good idea...sometimes.  And many times, I surely don't.  And if I ever forget that, kindly my wife reminds. While skimming articles today, I came across an op-ed piece by Marti...

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