Illinois Real Estate

Downtown Vacancy May Soon Be Filled

"It's a dead, lifeless building," said Sheldon Oppermann, of Compass Properties LLC, which owns the 80,000-square-foot building at 731 N. Water St. Compass, which also owns the neighboring 295,000-square-foot office building at 735 N. Water St., is seeking financing -including help from City Hall - to revitalize both properties. That would help draw more businesses to 735 N. Water, which has lost tenants in recent years to newer downtown buildings.

Tagged: Illinois

Downtown Vacancy May Soon Be Filled

Internet Is A BIG Equalizer For Small Appraisal Businesses

Nelson, who teaches courses on online business, and Elizabeth Binning, director of the McLean County Small Business Development Center at ISU, plan to offer an e-commerce seminar in the fall.The class will teach small business owners about start-up strategies, different Web site designs and characteristics that make certain pages successful. For example, Web sites should offer more than just the product to sell, she said.

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Internet Is A BIG Equalizer For Small Appraisal Businesses

How Much Is My House Worth?

If a comparable sold for $242,000, with one less bathroom than your home, and a bathroom is worth $15,000 in your area (ask a real estate agent for help with these figures), then you ADD $15,000 for the bathroom it doesn't have. Subtract, say $5,000, for the paved driveway it does have, that your home doesn't have. $242,000 plus $15,000, minus $5,000 gives you a comparable sales price of $252,000.

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How Much Is My House Worth?

2005 Annual Report - City of Bloomington - Real Estate Assessment Statistics and Trends

A Summary of Changes for the 2005 Assessment Year: Changes were made to 2,089 property assessments. Over $51.5 million in new residential and commercial construction were added to the tax rolls. "Changes in the lending rates have slowed the real estate market slightly. Collecting new property data, valuing new and existing parcels, notifying owners about changes in their values are all part of the ongoing assessment function each and every year."

Tagged: Illinois

2005 Annual Report - City of Bloomington - Real Estate Assessment Statistics and Trends

Bankers Oppose New Illinois Appraiser Licensing Amendment - ICAP Supports The Bill

The following information has been provided by the Illinois Coalition of Appraisal Professionals (ICAP) Board SUPPORT AMENDMENT #2 SB482 - Click here for the full bill. Illinois appraisers, please call your State Rep and Senator today urging them to support House Amendment # 2 and oppose the Bankers Amendment #4 for a full exemption to Senate Bill 482. The ICAP Board Appraisal, Real Estate, Appraiser, USPAP, RESPA

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Bankers Oppose New Illinois Appraiser Licensing Amendment - ICAP Supports The Bill

Borrowers Urged To Get Independent Appraisal

"No tenants are found, no rental payments are collected, no mortgage payments are made, the house goes into default -- turns out it's not worth anything -- and the borrower is left holding the bag and their credit is destroyed," says Rachel Dollar, a lawyer in Santa Rosa, Calif., who represents lenders in mortgage-fraud cases. But many borrowers simply don't want to be on the hook for more money than their homes are worth.

Tagged: Illinois

Borrowers Urged To Get Independent Appraisal

House Sales Up in March - Local B-N

BLOOMINGTON -- In March, 98 more homes sold in Bloomington-Normal compared to February, putting year-to-date sales 38 units ahead of 2005.
During March, 45 new homes and 204 existing home sold compared to 20 and 131, respectively, in February. The Illinois Association of Realtors has not yet released March sales.
Total Illinois home sales reached 9,936 homes, up 1.8 percent from February 2005.

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House Sales Up in March - Local B-N

Your Mortgage Application Is For Sale

Your loan officer may be unaware, but behind his or her back key financial details about you and your mortgage needs are being hawked to competing lenders within 24 hours of your credit bureau inquiry.
Firms such as Mortgage Inquiry Data of Coral Springs, Fla., offer interested lenders nationwide ``access to everyone in your city who applied for a mortgage loan within the past 24 hours.

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Your Mortgage Application Is For Sale

Migration Patterns in U.S. Show Move to South, West

Between 2000 and 2004, the South saw a net migration of 1.4 million, mostly in the South Atlantic states of Delaware, Maryland, the District of Columbia, Virginia, North Carolina, South Carolina, Georgia and Florida. The Northeast, and in particular the Mid-Atlantic states of New York, New Jersey and Pennsylvania, saw a net loss of nearly 1 million between 2000 and 2004.

Tagged: Illinois

Migration Patterns in U.S. Show Move to South, West

Using Appraiser Trainees - The Safe Way

Increased Liability Exposure In the past a licensed appraiser would hire and supervise up to two trainee appraisers. We have seen a single appraiser sign as many as 1,500 appraisals per year with the assistance of numerous trainee appraisers and it is reasonable to assume that preparation of these appraisal reports by the trainee appraisers were not supervised properly. 25% of claims reported to us during 2005 involved a trainee appraiser.

Tagged: Illinois

Using Appraiser Trainees - The Safe Way