Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



  There have been many reports that in the last decade, household formations have declined sharply. Based on a survey by the census bureau it was reported in 2011 that “the number and share of doubled-up households and adults sharing households across the country increased over the course of the ...
  The Mortgage Brokers Association (MBA) Report that tracks mortgage loan application has been reporting declining numbers in mortgage application from mid July throughout the month of August. This has been despite the fact that mortgage rates have been at an all time low and reports in recent mo...
The glass was either half full or half empty, depending on how you saw it. On Friday, it was announced the Chicago residential real estate activity increased 27%. And on Friday, it was announced that prices of Chicago real estate housing decreased 4%. But wait there's more, on Friday in article b...
  Is the world of financial reporting and accounting finally going global? After many years of debate and speculation, the Securities and Exchange Commission in August 2008 announced that it would finally issue a proposed “roadmap” to change from the General Accepted Accounting Principles or simp...
  Despite record low interest rates, borrowers may have to pay higher mortgage fees if they live in the wrong state.  Given that nearly all mortgage companies have had to contend with long and growing processing times to complete foreclosures, a measure is being suggested to account for the cost ...
                 As the recent U.S housing crisis that was part of the biggest recession since the great depression shows signs abating, the market has begun to show signs of a recovery. Some will point to the reduced housing inventory, others will point to the positive news of widespread modest ...
  Historically low interest rates are prompting many homeowners to take a serious look at ‘tapping’ into the nearly free money available from mortgage lenders these days.  They’ve heard enough knocking at their door by banks and mortgage lenders to take a shot at refinancing their residence.    U...
What if potential home buyers paid as much attention to the 'specs' on their home as they pay attention to the 'specs' on the potential car they are considering buying? Of course, any car buff will tell you that styling matters.  Yet that same car buyer will also tell you that features, safety, p...
  In a recent article, the Chicago Tribune covered the story of a housing development in the making. While the paper has covered countless numbers of ongoing property development projects, this one is unique in that it is Habitat for Humanity’s largest project of its kind in the nation. On the we...
  Recent reports indicate that there has been a sharp drop in the sale of foreclosed homes. The Wall Street Journal reported that listings of foreclosed properties have fallen in 17 of the last 19 months through July, according to a research by Zelman & Associates. These listings are down 47% fro...

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