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.

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.

USPAP

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.

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.

 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.