Thursday, January 18, 2024

 The impact of solar panels on home value can vary based on several factors, including location, market conditions, and individual buyer preferences. In general, solar panels are considered a valuable and environmentally friendly addition to a home, which can potentially increase its market value.

In Illinois, where solar energy is becoming more popular and the state has various incentives for renewable energy, having solar panels could be seen as a positive feature. Buyers may appreciate the potential for energy cost savings and the environmental benefits associated with solar power.

However, it's essential to consider the local real estate market and the preferences of potential buyers in your specific area. It's recommended to consult with local real estate experts or appraisers who are familiar with the market conditions in Illinois to get a more accurate assessment of how solar panels might impact the value of a home in your particular location.

Thursday, January 11, 2024

The future of real estate appraising is likely to be influenced by various factors, including technological advancements, regulatory changes, and shifts in the real estate market. While it's challenging to predict the future with certainty, several trends and opportunities are emerging.

Sunday, January 7, 2024


The Appraisal Standards Board (ASB) voted on May 5, 2023, to adopt revisions to the Uniform Standards of Professional Appraisal Practice (USPAP). These changes are set to take effect on January 1, 2024. These will be the first updates to USPAP in four years. While many of the modifications may not drastically alter appraisers' practices, they hold importance in fostering public trust.

USPAP has long been subject to various misconceptions among both appraisers and the public. The alterations implemented in the 2024 USPAP aim to dispel five prevalent myths and misconceptions, contributing to a clearer understanding of the standards.

Friday, January 5, 2024

Great news for appraisers. Valuation Expo at Caesar's Palace in the heart of the Las Vegas Strip. Those interested in attending, registration will open in February. Mark the dates on the calendar and look out for further details. Events like these provide valuable opportunities for networking, learning, and staying updated on the latest trends in the industry.

Wednesday, January 3, 2024

 First American Financial Corp. and its subsidiary, ACI, reported a cybersecurity incident in a filing with the U.S. Securities and Exchange Commission on December 22. The company disclosed that its systems were offline following the incident. In a subsequent filing on December 29, it was stated that ACI had successfully restored its online functionality.

Tuesday, November 28, 2023

 importance of a will for the estate

A will is a legal document that outlines how a person's assets and properties should be distributed after their death. It is a crucial component of estate planning, and its importance cannot be overstated. Here are several reasons why having a will is essential for managing one's estate:

  1. Asset Distribution: A will allows an individual to specify how their assets and properties should be distributed among beneficiaries. Without a will, the state's intestacy laws will determine the distribution, which may not align with the deceased person's wishes.

  2. Guardianship for Minor Children: A will provides an opportunity for parents to designate a guardian for their minor children. This ensures that someone they trust will be responsible for the well-being of their children if both parents pass away.

  3. Executor Appointment: A will allows the testator (the person creating the will) to appoint an executor, who is responsible for managing the estate and ensuring that the instructions in the will are carried out. This person should be trustworthy and capable of handling financial and legal matters.

  4. Minimizing Family Disputes: Having a clear and legally valid will can help minimize the potential for disputes among family members regarding the distribution of assets. It provides a transparent and legally binding document that can help prevent conflicts.

  5. Tax Planning: A well-structured will can also include provisions for tax planning, which may help minimize the tax burden on the estate. This can be particularly important for larger estates subject to estate taxes.

  6. Specific Bequests: A will allows the testator to make specific bequests, such as leaving particular assets or amounts of money to specific individuals, charities, or organizations. This ensures that the testator's intentions are known and followed.

  7. Business Succession: For individuals who own businesses, a will can outline plans for the succession of the business. This can be crucial for the continuity of the business and the welfare of employees.

  8. Peace of Mind: Knowing that one's affairs are in order and that their wishes will be carried out can provide peace of mind. It can also be a thoughtful way to take care of loved ones by making difficult decisions in advance.

Thursday, November 9, 2023

 i received an appraisal reguest recently from a law firm. they told me they had documents that would provide me with the information i needed to complete the appraisal. when i got the documents i could tell they were not accurate. verify your information when its provided to you by the client if you can. 

  The impact of solar panels on home value can vary based on several factors, including location, market conditions, and individual buyer pr...