Author: mpragit
Fair Cash Offer Advertisements
A fair cash offer is not Market Value! It is not consistent with any of the common value definitions such as Market Value, Fair Cash Value, or Liquidation Value. A fair cash offer is whatever the buyer wants to offer you with the word fair added in front of it! If one of these “we buy homes as-is” companies has made you an offer you owe it to yourself to consult with a local appraiser. Their objective opinions and research can make sure you are not leaving tens of thousands on the table. A qualified appraiser can help answer questions like:
Would I net more marketing through a Realtor?
Do I need to sell my home as-is?
Do I need need to sell for cash.?
Is updating or remodeling worth the cost?
What repairs or clean-up might be required for conventional mortgage, FHA, VA or USDA rural mortgage?
What are value trends and market conditions in my particular market?
Redneck Deck
Notice this is built on top of two rows of shipping pallets? I’m guessing that is not even close to code. It looks level at least.
Tax Appeal
Ben Franklin was right when he said “…in this world nothing can be said to be certain, except death and taxes. ” ; but it is also true that property taxes can be appealed and reduced.
If the assessor’s (retroactive) Fair Value estimate of your home is higher than the current value of your home it is very likely that you are being overtaxed. In Illinois you can appeal the value used to calculate your taxes with a special purpose retroactive appraisal by a state certified appraiser, or with your own research. You can not appeal with a real estate agents or brokers estimate, such as CMA or BPO. Appraisals developed for mortgage purposes or automated (clickbait )calculations like zestimates are also not acceptable. If you suspect an assessor in northeast IL has overvalued your home please contact me. I have many years of experience and my work has always been accepted by townships, counties and the state board.
Ghost in the Appraisal?
I am currently completing an appraisal for a new home built on an infamous and reputedly haunted site in Manteno, IL. So far no paranormal activity, and nothing odd in the photographs, but I will keep you posted.
If you ever need a report on a home or group of homes that may be adversely affected by ghosts or other scary things such as: water contamination, mining activity, or a nuclear power plant give me call. I have over 20 years of experience, and an extensive CV and training. Whatever the situation I am not afraid.
Property Tax Alert
Over the past 20 years of providing independent appraisals, I have seen numerous errors in the living area estimates used by local tax assessors for the homes they value. Here is a common, easy-to-spot error I’ve seen in Northern IL especially Kendall and Grundy counties.
The sample sketch above shows the second floor area from the same two-story home. Notice how the open two-story ceiling area (such as over a foyer and family room) is not included as floor area on the sample on the left but is include in the sample on the right? If your home has this type of feature and has been measured like the sample on the right it is being over taxed for living area that you do not have! In this sample that difference is 600 square feet. There is no measuring standard that includes that type of space as floor area, yet I have seen it counted thousands of times in tax records throughout Northern IL! If you own a two-story home with open two-story ceiling area, you owe it to yourself to verify that the public records have this area excluded from the living area estimate used to develop your tax assessments. As an independent state certified appraiser I can provide a professional living area sketch that you can use to have this and other types of measurement errors corrected and your taxes reduced. This can done with a quick visit to the home and a simple consulting report or bundled with an appraisal report to fit any budget.