FORECLOSURE/REO APPRAISAL 

Did you know?    

Cook county had the highest foreclosure activity in March 2011!

As a result of the recent financial crisis, foreclosure rates in the country have risen sharply and the importance of a foreclosure/REO appraisal cannot be ignored in this changing economic environment. We, at PahRoo Appraisal and Consultancy possess the specific knowledge and skills required in providing fair valuations for both foreclosed and REO properties as well as appraisals for short sale properties.

Whether the property is a $300,000 condo in Chicago or a $225,000 bungalow in Jefferson Park, or a $1,000,000 single-family home in Glenview or Barrington, a distressed property is still distressed and needs to be valued accordingly. PahRoo understands the special challenges involved while calculating the "as-is", "as-repaired" or "quick sales" values for a foreclosed property and is committed to providing timely, accurate and fair valuations to our clients ensuring maximum customer satisfaction.

Check the latest foreclosure rates and foreclosure listings in your area... 

http://www.realtytrac.com/trendcenter/il-trend.html

http://www.fha.com/fha_foreclosures_states.cfm

Do I need to be worried if there is a foreclosure in my area?

PahRoo uses different approaches to value your property which may or may not involve comparable sales of homes in your neighborhood. We try to use arm-length transactions or regular sales in your or an adjacent neighborhood as much as possible in an appraisal, however if the neighborhood has had only foreclosures, chances of your home value nearing the foreclosed values are high since the foreclosed values would ultimately reflect the market value.