Tag: investment real estate

Request a quote

Our blog

Latest news
& events

How Scott Voltz Built an Appraisal Business That Stands the Test of Time
What does it take to stay in the appraisal industry for five decades and still love what you do?
In this powerful episode of Appraisers on Purpose, Michael Hobbs sits down with veteran appraiser and investor Scott Voltz, who shares a lifetime of lessons, including how he built a thriving appraisal business from the ashes of the 1989 banking crisis.
From Accidental Landlord to Industry Leader

 

Scott’s story begins with a chance real estate purchase at 22 years old, sparked by a missed turn and a for-sale sign on a weed-covered house. That experience set him on a journey that would weave through real estate syndication, investment, and ultimately, a passion-fueled appraisal practice. I was reviewing MAI reports and thought, I’m already doing this,” Scott recalls. That realization launched his decades-long career as a respected appraiser.
The Power of Geographical Specialization

 

One of Scott’s most game-changing decisions? Becoming the northernmost MAI in Los Angeles County. At a time when most appraisers chased work all over, Scott doubled down on local dominance. That strategy paid off, especially after the Northridge earthquake in 1994, which made him the go-to expert when others couldn’t reach the area.

I said, ‘Hi, I’m Scott Voltz and I’m going to dominate this area.’ And I did.

 

Scott proves that building authority in a niche market especially one underserved by competitors is a timeless success formula.

Why Appraisal Is More Than a Job
Scott sees appraisal not just as work, but as a profession rooted in trust, knowledge, and contribution. In fact, he shares that appraisers were mentioned in the Book of Leviticus, where priests were trusted to assign value to donated land.

If you treat it like a job, it’ll be a job. But if you treat it like a profession, you’ll grow and succeed.

 

Scott’s perspective is both refreshing and energizing, especially for younger appraisers seeking staying power in a fast-changing market.

Get inspired by one of the most grounded and hopeful episodes yet. Whether you’re early in your career or rebuilding in a shifting market, this one’s for you.

Enjoyed Scott Voltz’s story?

Don’t miss out on more inspiring journeys and practical insights from leaders in the appraisal world. Listen to the Appraisers on Purpose podcast on Spotify or subscribe to our YouTube channel to catch every new episode. Your next breakthrough might just start with a listen.

 

If you’re Interested in starting your own appraisal business or looking for mentorship, contact the Pahroo team to learn more about commercial and residential real estate appraisal in Chicago.
 
Housing Market 2025: What $1 Million Gets You Today

A Million Dollars Used to Buy Luxury. Now It Buys… the Basics?

Once upon a time, a $1 million home meant luxury: space, privacy, and maybe even a pool.
Today? In cities like San Francisco, Seattle, and parts of LA, $1 million might get you a dated 2-bedroom, and a bidding war.

We’re in a new era of housing where $1M no longer equals high-end. It’s entry-level. So how did we get here?

What’s Driving the Shift?

This isn’t just a coastal problem. Even secondary markets like Austin, Denver, and Phoenix are seeing seven-figure starter homes.
Here’s why:

  • Low Inventory: Decades of underbuilding have led to a serious supply crunch.

  • Rising Construction Costs: Inflation, materials, and labor shortages drive prices higher.

  • Zoning Restrictions: Local regulations make new, affordable builds nearly impossible.

  • Remote Work Migration: High-earning buyers are leaving coastal cities and driving up prices in previously “affordable” areas.

  • Fear of Missing Out: Many first-time buyers are jumping in now, afraid prices will rise further.

Where $1 Million Doesn’t Go Far

Let’s look at what $1M gets you today:

  • San Francisco: Maybe a 1-bed condo. If you’re lucky.

  • Los Angeles: A modest fixer-upper, with multiple offers.

  • Seattle: A small single-family home… with a long commute.

  • Austin: A cookie-cutter new build 45 minutes outside the city.

Even in the suburbs, buyers are finding themselves priced out or forced to compromise on size, location, or condition.

What Is a “Starter Home” Now?

Traditionally, a starter home was affordable for entry-level buyers, often smaller, modest, and budget-friendly.
Now, “starter” just means the lowest price available in the market. For many, that’s still $800K to $1.2M.

Worse yet, many first-time buyers rely on family help, jumbo loans, or co-buying with friends to compete.

Is This Sustainable?

Experts say this level of pricing pressure isn’t sustainable long-term.

While mortgage rates have cooled slightly, affordability remains near historic lows. Wages aren’t rising fast enough, and many buyers are already at their financial limits.

Still, limited supply means prices are unlikely to drop dramatically anytime soon.

Final Thoughts

In today’s market, $1M doesn’t guarantee luxury, it simply gets your foot in the door.

For aspiring homeowners, this shift is frustrating. For real estate professionals and appraisers, it’s a reminder of how location, demand, and perception continue to reshape value.

The “starter home” hasn’t disappeared, it just has a new price tag.

For insights into how zoning laws impact property values, explore our post on Zoning: The Most Boring Topic That Can Change Everything. Additionally, for official and up-to-date market data, the National Association of Realtors is a trusted resource.

Ready to navigate the evolving housing landscape? Contact us today, and our team will provide expert guidance tailored to your real estate goals.

The Evolving Landscape of Luxury Real Estate

Image showing Luxury home with a pool

Imagine walking into a high-end open house and seeing a group of young professionals in their 30s discussing smart-home features and sustainable design. This is the new face of luxury real estate. For years, the market was dominated by Generation X and Baby Boomers, but a major shift is happening. Over the next two decades, Millennials and Generation Z are set to inherit an estimated $84 trillion from Baby Boomers and the Silent Generation, dramatically reshaping the luxury homebuying landscape as noted by Merrill/Bank of America Private Bank.

A New Generation of Luxury Buyers

Many young buyers are using their inheritance to secure their first luxury home or upgrade to a more prestigious residence. Some are even skipping traditional starter homes altogether. In some cases, wealthy parents are directly funding these purchases, placing assets in trusts, or outright buying homes for their adult children. This change is altering how luxury properties are acquired and how young buyers approach real estate investment.

Real-Life Example:

Take Sarah, a 32-year-old entrepreneur who recently purchased a luxury penthouse in Miami. Thanks to a trust fund set up by her parents, she was able to invest in a high-end property that aligns with her lifestyle—complete with smart-home technology and ocean views. Buyers like Sarah are becoming more common in the luxury market.

Women Driving the Market

Another game-changer is the growing financial power of women. By 2030, women in the U.S. are expected to control approximately $34 trillion, about 38% of all investable assets. More women, particularly younger professionals and entrepreneurs, are using their wealth to invest in high-end real estate, prioritizing properties that offer security, autonomy, and long-term value growth this is according to a McKinsey & Company study.

A Shift in Priorities:

Unlike previous generations, modern female buyers are looking for properties that provide more than just luxury. Many prioritize homes that support their professional and personal goals, whether that means space for a home office, wellness amenities, or sustainability features.

What This Means for the Luxury Market

With these shifts, luxury real estate professionals must rethink their strategies. Younger buyers prioritize:

  • Smart home technology for convenience and security.
  • Sustainability and eco-conscious design to align with their values.
  • Digital-first experiences, including virtual tours and seamless online transactions.
  • Wellness-centric spaces, such as home gyms and meditation areas.

The Future of Luxury Real Estate

The luxury real estate market is evolving rapidly, and those who adapt to these emerging trends will be best positioned for success. Whether you’re a buyer, seller, or real estate professional, staying ahead of these shifts is crucial.

Are You Ready for the New Era of Luxury?

If you’re looking to navigate this evolving market, connect with a luxury real estate expert today and explore the opportunities waiting for you.

 

NEWSLETTER

Knowing a property's true value is key
to making informed real estate decisions

Visit us

7383 Lincoln Ave Suite,
#100 Lincolnwood, IL, 60712