Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



 Looking back on the Commerce Department's report that June's new home sales fell by 8.4% to a seasonally adjusted 350,000 annual rate of homes sold, was not expected. Although many economists were surprised at the sudden drop in sales after promising growth in housing, most are unfazed. May’s ne...
The hope for a rejuvenated housing industry lies with aspiring, ambitious young adults looking to take their next step into life; to start a family, to finally break off from their parents, and above all, to buy their first home. However, in the flurry of short sales, foreclosure auctions, distre...
Starting a family is not a priority for many of today's couples based on recent data published in USA Today by Demographic Intelligence, a Charlottesville, Va., company that produces quarterly birth forecasts for consumer products and pharmaceutical giants such as Pfizer and Procter & Gamble. For...
Foreign buyer and investors bought 33% more real estate in Q2 of 2012 according to a report published by Jones Lang LaSalle. More than $47 billion dollars were spent by foreign buyers between April 1st and June 30th 2012. Although $47 billion is less than a percent of the US real estate market's ...
Sometimes the shortest feedback is the best.  Yesterday, in addition to a couple AR comments, What If The Housing Market Rebounds And No One Else Can Jump In? several off-line individuals took the time to comment on the possibility that the housing market is generally, slowly  rebounding througho...
As news from the around the country continues to pour forth about rebounding real estate home sales and increases in the number of real estate sales transactions, what if the housing market does rebound and no one else can jump in? Seems like an obscure question, doesn't it, but consider these fa...
  So, now you scratching away.  (Scratching The Itch To Invest In Foreclosures)     Are you solo in your efforts to invest in distressed real estate?  Do you have contacts for foreclosure investing?  Or are you surrounded by peers in the Chicago real estate investment community?  Do you know REO ...
Based on recent data from the FDIC, as well as anecdotal evidence from bankers in Chicago and northern Illinois who have been subjected to the OCC and FDIC bank audits, it does seem that although the United States banking system is not out of the woods yet, the banking system continues to heal. B...
The FDIC, Federal Deposit Insurance Corp., announced that another Illinois lender has bit the dust, ka-plooey, failed, bye-bye, Adios Amigos, sayonara.  Second Federal Savings & Loan of Chicago failed and was scooped up by a division of Wintrust. To date, that is the 37th bank which has failed in...
   The U.S. Census Bureau reported that home ownership has dropped a full percent this past year. According to an article from dsnews.com, the 65.4 percent rate is the lowest percentage since 1996. Paul Diggle of Capital Economics attributed the continuing fall of home ownership to the foreclosur...

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