Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



Consumer spending rose 2.9% in the first quarter.  This increase was the fastest pace in more than a year which is definitely seen as good news.  Yet, consumer spending accounts for 70% of economic growth in the United States. So, as American consumers cut back or slow down their spending, it is ...
  The only thing constant in life is change said François de la Rochefoucauld.  Of course he was referring to trying to set a schedule and then keep it intact.   For anyone who has had the privilege of setting appointments with one or more people trying to attend the same meeting or gathering, on...
  Zillow's first quarter Real Estate Market Reports show home values decreased 0.5% from the fourth quarter of 2011 to the first quarter of 2012 to $146,200. Annually, values dropped 3.1% from March 2011. Despite showing quarterly and annual depreciation, the quarter ended positively with home va...
Some additional positive news from the FDIC.  The Federal Deposit Insurance Corporation forecasts fewer bank failures in 2012.  For many onlookers and prognosticators, this is a positive sign that that the economy will continue its recovery that began several quarters ago.  Granted, the recovery...
Do you see what I see? The outlook for homebuilding remains stable according to Stephen Kim.  Revenues are expected to continue to grow on stronger homebuilding deliveries during the next 12 to 18 months. Yet, increased foreclosure rates will offset price increases by increasing competitive suppl...
As reported in Chicago Agent Magazine, officials in the City of Chicago decided its pre-foreclosure requirements for vacant buildings were a bit too strict...not to mention a lawsuit filed in federal court. The City of Chicago ordinance, in effect since November, required the owner of a vacant bu...
As noted in a recent column in Chicago Agent Magazine, if you’re one of the 15,000 salespeople and brokers who has completed your state-mandated real estate license transition, then you are in the minority.  If you’re not in that group, then you are not only in the majority, but you also risk the...
In 2011, U.S. cities took steps to address the excess housing, specifically vacant and unwanted housing.  According to the U.S. Census Bureau, in 2011, there were 18.7 million vacant homes in the U.S. which was down slightly from 18.9 million in 2010. Unfortunately, more action is needed to addre...
Spring has Sprung and Chicago housing is coming out of hibernation.  March home sales jumped up approximately  24% over last year. In March, 6,590 single-family homes and condominiums sold in the nine-county Chicago area, up 23.8 percent from the 5,323 sales posted in March 2011, the Illinois Ass...
Crain's Chicago Business announced that the Chicago Fire inked a deal with Quaker Oats Co. to be the team's jersey sponsor for the 2012 season, which got under way last month. The Chicago Fire is a Major League Soccer franchise in the city of Chicago. Team President, Julian Posada, indicated the ...

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