AL Wagner Newletter

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A. L. Wagner Appraisal Group, Inc.
Real Estate Appraisers & Consultants
1807 S. Washington Street, Suite 110 Naperville, IL 60565 www.WagnerAppraisal.com Telephone (630) 416-6556 Fax (630) 416-6591 E-Mail: [email protected]

Alvin L. “Chip” Wagner III, SRA, SCRP

NOVEMBER 2010 eNEWSLETTER
Dear Chicago-Area Real Estate Community and other interested parties in real estate and relocation: Attached please find my November Statistics:   Monthly Market Pulse for Detached Housing – November 2010 Monthly Market Pulse for Attached Housing – November 2010

I hope everyone had a wonderful Thanksgiving as we prepare for the holidays. This is typically the time of the year where fewer listings are on the market, which influences our Month Supply of Inventory (MSI) downward. The attached market supply studies support these conclusions. There are many reasons this takes place, the main being most people don’t want to be bothered with showing their home during the busy holiday season. At the same time, few people are actually taking the time to look for homes at this time of the year. So, depending on the motivations of the buyers and sellers, fewer homes are listed and fewer homes sell during this period.

SPLIT FACE BLOCK

On a different note, there is a new concern has entered our real estate marketplace. The link below goes to local television station WLS/Channel 7, with a special report on Split Face Block concerns used in new construction. If you haven’t heard of it yet, you are bound to hear much more about it in the near future. It appears to be rearing its ugly face.
http://abclocal.go.com/wls/story?section=news/special_segments&id=7804934&rss=rss-wls-article-7804934

Some area home inspectors are saying a building material in many brand new homes all over Chicago may be putting homeowners at serious risk this winter. It’s called “split face block” which is a type of concrete used for exterior walls. I found another good source for additional information, and it is on “The Chicago 77” Real Estate Blog. A direct link to the information provided by a home inspector with several follow up messages is located at:
http://www.thechicago77.com/2009/03/a-chicago-building-block-split-face-block-%e2%80%93-all-you-need-to-know/

A home inspector that commented on the article states that the City of Chicago has banned the use of split face block about in middle 2009. APPRAISAL/VALUATION ISSUES I invite real estate professionals to follow me on Facebook and/or follow my blog. As I see interesting things in the local or national media, I will copy the articles to my Facebook company page, and if I am so inspired, I’ll blog about it. Visit my blog at: http://chipwags.blogspot.com/ If you are a Facebook user, you can “Like” my Facebook page at:
http://www.facebook.com/pages/Naperville-IL/AL-Wagner-Appraisal-Group-Inc/368919896256?v=wall

Seasons Greetings!

Chip
Alvin “Chip” Wagner III, SRA, SCRP (RAC Member)
A. L. Wagner Appraisal Group, Inc. is proud to have been serving the Chicago metropolitan area since 1970 by its founder Alvin Wagner Jr. Currently lead by his son Alvin III, known as “Chip,” we specialize in corporate relocation appraisals and complete residential appraisals for all purposes including lending, REO/Foreclosure, Legal (divorce, estates, trusts, litigation support), market value appraisals for Realtors and individuals for both listing and selling purposes. Visit www.WagnerAppraisal.com for more information on our qualifications and services. Thank you for your referrals! If you know of someone who would benefit by this newsletter or our market studies, please feel free to pass them along. If you would like to be removed from my distribution list, please send an e-mail to: [email protected]. All information contained in this eNewsletter was created by Alvin L. “Chip” Wagner III, SRA, SCRP and is the opinion of the author. Market statistics were derived from the MRED, LLC and the former Multiple Listing Service of Northern Illinois.

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