Home > Blogs > Illinois > Cook County > Chicago > Appraisal Time Adjustment
39,075 views

Jack Schlenk's Blog

By Jack Schlenk | Appraiser in Chicago, IL

Appraisal Time Adjustment


Appraisal Time adjustments for Propertes in the Zip 60641. Time frame 10/2012 & 10/2013

Detached Single sales, 10/2013, 340 sales only 27% of the market listings sold

Average Old avg List price; $338,751, 74% of list price
Average List Price Sold;  $258,019, 97% of list, Average sales price $249,209

Detached Single sales, 10/2012, 322 sales only 26% of the market listings sold

Average Old avg List price; $333,600, 66% of list price
Average List Price Sold;  $231,980, 95% of list, Average sales price $221,536

Based on the above data what would the monthy time adjustment for a comp that sold in 12.2012?

All of my Appraisal Reports, when required, have a time adjustment for comps with  a contract date over 1 month.

If your Appraisal Report comps lack a proper time adjustment for the said comps the Appraisal report may not reflect the true market value.

Contact me if you have questions;

Jack Schlenk 773 685 8300
jack327@sbcglobal.net

Comments

By Timothy M. Garrity,  Fri Oct 4 2013, 09:02
Always good to have local stats.
By Darlene A Kearney,  Fri Oct 4 2013, 11:20
Very Interesting! Thanks Jack.

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer