Addressing bias in appraisals

Fair Market Appraisals

Addressing bias in appraisals is an important aspect of ensuring fairness and equity in various domains, including government organizations.  I can provide some general strategies and initiatives that governments may undertake to prevent bias in appraisals. It's essential to check for updates or specific initiatives implemented by your local government.

Training and Awareness Programs: Governments may conduct training programs to educate employees and managers about unconscious bias, stereotypes, and the potential impact on performance appraisals. This training aims to increase awareness and promote fair and unbiased evaluations.

Clear Evaluation Criteria: Establishing clear and transparent evaluation criteria helps minimize subjectivity and bias. Governments can develop standardized performance metrics, competency frameworks, and objective criteria to guide the appraisal process.

Calibration and Consistency: To mitigate bias, governments may implement calibration sessions or review panels where multiple evaluators come together to ensure consistency in ratings and address potential bias.

I have completed close to 11,000 appraisals during my 30+ years as an appraiser and i have never had an issue with bias.

Need an appraisal in Chicagoland?

Let us show you how fast, easy and affordable it is to get you house appraised!

www.fairmarketappraisals.com

312-758-6733

Mike Illingworth

What's all this "droning on' about property appraisals? Can drones help increase your appraisal value?

Fair Market Appraisals

Can drones help with your appraisal?

In recent years, drones have become increasingly more popular in various industries, including residential appraising. In the context of residential appraising, drones can provide valuable aerial imagery and data that can aid in the appraisal process. Here are some ways in which drones are utilized in residential appraising:

1. Property Inspections: Drones equipped with high-resolution cameras can capture detailed images and videos of residential properties from different angles and heights. Appraisers can use this visual data to assess the property's condition, size, and other relevant features.
2. Aerial Surveys: Drones can quickly and efficiently perform aerial surveys of residential neighborhoods. They can capture data on neighboring properties, land use, proximity to amenities, and other factors that can impact property values.
3. Property Measurements: Drones equipped with LiDAR (Light Detection and Ranging) sensors can accurately measure the dimensions of residential properties. This data helps in determining the square footage and other essential measurements for appraisal purposes.

Need an appraisal in Chicagoland?

Let us show you how fast, easy and affordable it is to get you house appraised!

www.fairmarketappraisals.com

312-758-6733

Mike Illingworth

What is the importance of deferred maintenance in an appraisal?

 

Fair Market Appraisals

What is the importance of deferred maintenance?   • Ensure deferred maintenance does not affect the safety, soundness or structural integrity of the subject property.

• Describe the deferred maintenance in detail. Deferred maintenance can include but is not limited to worn floor coverings, minor plumbing leaks, holes in window screens, missing handrails, cracked windows and are typically due to normal wear and tear.

• Provide comments on impact to marketability.

• Provide comments on impact to value and how adjustment was determined. Need an appraisal in Chicagoland? Let us show you how fast, easy and affordable it is to get you house appraised! www.fairmarketappraisals.com 312-758-6733 Mike Illingworth

Michael J Walsh

Michael J Walsh an Illinois appraiser and owner of Citywide Services passed away today.  

Mike was a good friend and helped me every day for the last 31 years with my appraisals he will be missed by all that knew him.

- Mike Illingworth

Why you need a divorce appraisal.

Fair Market Value, Inc

The purpose of a divorce appraisal is to establish the fair market value of the couple's assets at the time of the divorce. This valuation is crucial in determining how the marital property will be divided between the spouses. It helps ensure that both parties receive a fair share of the assets, taking into account factors such as the duration of the marriage, contributions of each spouse, and the specific laws governing property division in the jurisdiction.

Divorce appraisals can be conducted for both contested and uncontested divorces. In a contested divorce, where the couple disagrees on the value of their assets, each party may hire their own appraiser to provide separate valuations. In an uncontested divorce, the couple may agree on a single appraiser to determine the value of their assets.

It's important to note that divorce appraisals are typically conducted by professional appraisers who specialize in valuing assets for divorce purposes. These appraisers are knowledgeable about the legal requirements and methodologies involved in divorce appraisals and can provide an unbiased assessment of the value of the assets.

If you are going through a divorce and require a divorce appraisal, it is advisable to consult with a family law attorney who can guide you through the process and help you find a qualified appraiser to ensure a fair valuation of your assets.

Getting an appraisal is the best way to get the most accurate value of your property.

Need an appraisal in Chicagoland?

Let us show you how fast, easy and affordable it is to get you house appraised!

www.fairmarketappraisals.com

312-758-6733

Mike Illingworth

What are residential appraisal forms?

Fair Market Value, Inc

Residential appraisal forms are used by appraisers to document their assessment of a residential property's value. These forms typically include sections for gathering information about the property, such as its location, size, condition, and amenities. The appraiser will also consider recent comparable sales in the area to determine the property's market value.

Appraisal forms may vary depending on the country, state, or organization issuing them. For example, in the United States, the most commonly used residential appraisal form is the Uniform Residential Appraisal Report (URAR), also known as Form 1004. This form is standardized and widely accepted by lenders and government agencies.

To obtain the most up-to-date residential appraisal forms, you can check with your local real estate appraisal associations, regulatory bodies, or government agencies responsible for overseeing appraisals in your jurisdiction. These organizations often provide official forms.

Need an appraisal in Chicagoland?

Let us show you how fast, easy and affordable it is to get you house appraised!

www.fairmarketappraisals.com

312-758-6733

Mike Illingworth

Chicago moderate home price appreciation

Fair Market Value, Inc

The Chicago housing market is diverse, with a wide range of neighborhoods and property types. Home prices can vary significantly depending on factors such as location, property size, condition, amenities, and market demand.

Historically, Chicago has experienced moderate home price appreciation compared to some other major cities in the United States. However, it's important to note that real estate markets are subject to fluctuations, and prices can change based on supply and demand dynamics, economic conditions, and other factors.

Need an appraisal in Chicagoland?

Let us show you how fast, easy and affordable it is to get you house appraised!

www.fairmarketappraisals.com

312-758-6733

Mike Illingworth