Real Estate Blog - Appraise & Apprise - William R Hall, Alpha Valuations

Goodbye, 2018.  We hardly knew ye.

Time is a crazy concept, isn’t it?  It can fly or it can stand still.  You can run out of it or have too much of it on your hands.  You can reflect on it or look forward to it.  I, for one, am very much looking forward to 2019.  Granted, it has had an inauspicious beginning.  Government shutdown. Crazy, nasty weather.  The Bears shocking playoff loss to that team from Philly (kickers…amirite?).  Still, I choose to look forward to what 2019 might still bring – both professionally and personally.

Professionally, I’m looking forward to the real estate market picking back up.  The pace slowed quite a bit toward the end of the year – which is typical – but the dropoff seemed worse than usual this holiday season.  That said, similarly to last year, the so-called Spring buying season has already started.  I didn’t see the early start last year until February/March.  This makes sense as the appraisal is always one of the last pieces of the purchase puzzle and typically lags contract execution by several weeks.  Now that I recently obtained my broker’s license and am more of an active rather than passive participant in the market, I’ve noticed it in real time this year.  Another interesting thing of note is that buyers are becoming  increasingly more savvy and most want that finished, move-in ready product.  These days, that generally means grey walls, dark floors, and white trim.  Stainless steel appliances and stone countertops are still a priority, as well.  And this is true whether buyers are looking for a $120,000 condo or a $500,000 semicustom home.  Additionally, the lack of available inventory continues to be an issue and prices continue to push northward as buyers are involving themselves in multiple offer situations as there just isn’t enough to go around right now.  Will this change in 2019?  It’s difficult to say. The Fed recently held the overnight rate unchanged and removed the language pertaining to “gradual increases” in its comments, indicating patience and restraint in future increases.  This bodes well for real estate.  Hopefully, this sparks the local market and gets people moving again (literally). 

On a personal note, our daughter will be going into her Junior year at IMSA in the Fall of 2019.  While we’ve heard this is the most demanding year at the school, my wife and I can’t be more excited for what Sam will be doing at this amazing institution.  I don’t envy the stress and pressure she’ll be under, but I absolutely envy the stuff she’ll be learning.  I love what the future holds for that kid.  When Ice Planet Hoth thaws this Spring…Summer…whenever…I can’t wait to get back to our happy place (shame on you – if you’ve read this blog, you would know I’m talking about Elkhart Lake, WI).   It’s easy to think about warm weather, the beach, ice cream at Gessert’s, and insanely stocked Bloody Mary’s at the Osthoff when the wind chill is -50^o.  It just feels an eternity away.  And I’m always ready for some Road America.

I’m excited for what 2019 can yet bring.  And, hey, Bears training camp starts in a short 6 months.  Maybe 2019 will be their year.

Thanks, and Make it a Great Day!

As a small business ourselves, my wife and I firmly believe in supporting our local small businesses. We are truly thankful everyday for what we have been able to accomplish and sustain over the past nine years and it would have not been possible without the support and continued trust of our clients/customers.  On the appraisal side of our business, I have to be "geographically competent" prior to banks/lenders engaging me for my valuation services.  And many of our best clients are large, national lenders with names that most everyone would be familiar with.  So, when they select us over hundreds of other appraisers in the area and engage us for our services, our local small business is being supported at a national level.  It's a pretty awesome feeling.  But do you know what's an even better feeling?  When we are repeatedly engaged by local mortgage brokers who come back to us time and again because they appreciate our effort and quality work.  Or when we receive an email or phone call from someone seeking non-lending valuation services and they tell us they were referred to us by someone else who enjoyed working with us. Or simply someone just asking for my business card should the need arise because they enjoyed speaking with me and liked what I had to say about real estate in general.  Those are the moments that fill me with pride and reinforce the feeling that we're actually good at what we do.  Nothing can beat that feeling as far as running a business goes.

So, whenever we can, we like to return that favor and support our local small businesses.  When it was time to replace our windows and our sliders, we chose a small, local company started up by several skilled carpenters.  The landscaper who installed our patio, fire pit, front walk, and retaining walls, has a daughter who goes to school with our daughter.  When I was looking at meat subscription services (yeah, that's a thing), my wife said "Why bother?  We have Casey's.  Wouldn't you rather support local business?" And she's absolutely right.  Which brings me to our near obsessive endorsement of CSAs (Community Supported Agriculture).

A few years back, Lori and I started going to various local farmer's markets on the weekends.  It was an epiphany.  Neither of us knew that that's what a strawberry grown in season was actually supposed to taste like.  Or fresh spring onions just plucked from the soil.  Or tomatoes right from the vine and not shipped from 1000 miles away.  Then Lori stumbled upon Nichols Farm and Orchard at one of these local markets.  They are a CSA based out of Marengo.  A little research uncovered that they supply some of the best restaurants in Chicago.  If they're good enough for Stephanie Izard, I guess we should be okay.  They are amazing.  And they deliver right to our door.  My wife and I literally count down the days until our next Friday delivery.  We love to cook and we have been fortunate enough to learn new recipes utilizing fresh ingredients that we had never used before.  And the flavors...there are no words (can you tell we just received our first shipment this season?).  So look into it.  Support your local businesses when possible.  And support your local farmers.

Thank you and make it a great day!