I’ve written a few blog posts about real estate appraisals in the past – most recently this one about the inherent biases in the appraisal process that make them kinda worthless. That one also contains a link to an earlier one on some of our worst experiences with real estate appraisals.

Well, with the Coronavirus pandemic in full swing the quality of real estate appraisals has sunk to new lows. It’s to the point now where I wonder why they even bother with them since most are now just drive by. That’s right. The appraiser just drives by the property and comes up with a number – I guess based upon interior photos and the exterior. I totally understand why they’ve gone to this extreme but I just don’t know how they can do their job under these circumstances.

Here is an example of a situation we found ourselves in on a home we had for sale in Buffalo Grove a while back. It was nicely updated with 4 bedrooms, 3 full baths and a finished basement. We had 5 offers above $385,000 and the winning bid was for $387,000. Clearly this home was worth at least $385,000.

Unfortunately, Wells Fargo was the lender and they ordered a drive by appraisal. One of the primary comparable properties was across the street but it was not updated, did not have a finished basement, and only had 2 1/2 baths. Oh…and it also needed a new roof which knocked the price down by about $12 – 13 K, resulting in a net price of $356,000. The appraiser added back $20,000 for the fact that our home had a finished basement. Try finishing a basement for $20,000. Then, instead of adding to the estimate for the fact that we had a third full bath instead of that half bath the appraiser actually deducted $6,000 because they thought we only had 2 full baths. I guess they didn’t look at the real estate listing. So the appraisal came in at $370,000.

When an appraisal is so obviously flawed you can appeal it and you should win. Although we tried that our request was denied – even though the appraisal had glaring errors and omissions. WTF! So this is the world we live in now. Admittedly, it’s not always this bad but this is an example of how bad it can get.

#HomeBuying #Appraisals #RealEstateAppraisals

Gary Lucido is the President of Lucid Realty, the Chicago area’s full service real estate brokerage that offers home buyer rebates and discount commissions. If you want to keep up to date on the Chicago real estate market or get an insider’s view of the seamy underbelly of the real estate industry you can Subscribe to Getting Real by Email using the form below. Please be sure to verify your email address when you receive the verification notice.

Illinois State head coach Brock Spack and his family took a long-awaited trip right before spring football practice was set to begin. Then, the world as we know it changed.

“I took my family for a vacation in the Virgin Islands,” Spack told Prairie State Pigskin recently. “I’ll never forget the Wednesday when the NCAA (men’s basketball) tournament was shutting down and (we were) trying to get out of there. Two days later the whole place was shut down; you couldn’t get in or out.”

Shortly thereafter, Spack called off ISU’s spring practice and months later the Missouri Valley Football Conference followed suit with its fall season.

“When we came back it was one thing after another, and it hasn’t really stopped since,” Spack said. “Every day you wonder what will it bring today?”

Fall practice plans

This today brings the arrival of fall camp for Spack’s Redbirds. If all goes according to plan, ISU will practice three days a week until Oct. 24. The spring FCS season is scheduled to begin Feb. 20 with a national championship game in mid-May.

“Obviously trying to keep them healthy from the virus standpoint,” Spack said when asked his top priority. “We’ve got to get back to playing football. I look forward to the opportunity to put shoulder pads and helmets back on. We had them on for one day. We had shells on. It was that weird acclimation period in training camp. Two days of helmets only, then we had shells. You could tell they were rusty. I’ve watched football games on TV and they’re not real sharp. That’s from a lack of playing with pads on and playing live tackle football.”

‘Birds of a different feather

When numerous outlets released their 2020 preseason rankings in early summer, ISU was ranked in the Top 10 by multiple sources. Moreover, the Redbirds joined Missouri Valley Football Conference members North Dakota State and Northern Iowa in those rankings — illustrating the strength of the top league in FCS.

ISU begins fall camp this week

Yet, not all the Redbird news was good. Since the Missouri Valley made its decision to play in a spring schedule, the highly respected Illinois State defense lost three key players: defensive end Romeo McKnight, linebacker Dylan Draka and cornerback Devin Taylor. While McKnight and Taylor have transferred to FBS programs Charlotte and Virginia Tech, respectively, Draka told The Pantagraph that he will graduate in December and not play in the spring.  Meanwhile, promising linebacker Zeke Vandenburgh remains with the team but has entered the transfer portal.

On the other side of the ball, the Redbirds are facing the daunting task of replacing All-American running back James Robinson, who has rushed for a Jacksonville franchise record 164 yards in his first two NFL games.

“I wish we could have had our whole team together because we were really excited about this team,” Spack said. “This is a special football team, but it’s going to be different in spring. We’ll see what that looks like and hopefully make the correct adjustments.

“Our team is different right now. We had a long talk about that and what’s our best personnel. Right now, we don’t know. We have an idea, but we don’t know. We’re going to throw some things out there and play some different combinations of guys and see how they look and go from there.”

Spack remains confident in his roster and in his coaching staff.

“The building phase can be real nerve-racking, but I enjoy that part of it,” he said. “We built this program before and we’ll build it again. That’s college football. They don’t all stay forever anyway.”

COVID protocols

In the midst of revamping the Redbirds for a spring playoff run, Spack fully realizes that health and safety remains the most challenging part of his job.

“We were doing very well this summer. Our players did a fantastic job as well as our training staff, our medical staff, our strength and conditioning staff of trying to keep the virus under control,” Spack said. “We were doing really well, but we were in somewhat of a bubble. We didn’t have as many students on campus at that time.

“I would have loved to have seen what would have happened if we were allowed to play . . . but because the season got cancelled, there are examples of us maybe letting our guard down a little bit. It’s difficult when you live in the dorm or you live with a bunch of other folks and you’re around a lot of others even in an apartment setup because just an innocent visit by somebody could open you up to the virus. It would have been interesting to see how that all would have worked in-season, because it’s a struggle to keep people out of quarantine.”

A self-admitted “old school coach,” Spack’s message has been clear to his team in this unprecedented environment.

“You can’t let your guard down, that’s what we preach,” he said. “You have to be careful that you don’t hang around people that you don’t know very well. If you’re at large gatherings, put a face covering on and be smart about all that. That’s where we’re at.”

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Vampira is being fostered in Chicago’s Andersonville neighborhood.

Summer in America 2020 was defined by two major storylines- the COVID-19 pandemic and the grassroots movement for social justice. It’s carried over to the 2020 NFL regular season, with narratives emerging right from kickoff. The very first game, the Houston Texans at the Kansas City Chiefs, saw both teams joining together to stand in silence for the cause of unity.

For some inexplicable reason this was booed, and that set off a chain reaction of events. On top of all the larger issues that transcend a mere game, but also currently engulf it, we’re seeing strong winds of change blowing in the business side of the National Football League too.

How the NFL is covered, and how we consume it, has been revolutionized by the legalization of sports betting in the United States. It’s ramped up further the growth of daily fantasy sports, a thinly disguised version of sports gambling itself. With the pandemic forcing more wagering online, instead of in real life, it’s a perfect storm for the industry. Online poker mainstreamed betting on the internet, and now NFL wagering, the expansion of prop betting and daily fantasy will bring it up yet another notch.

Prop betting on what the players will do during the Star Spangled Banner has already been around for a few years, as taking a knee during the national anthem has become common practice. Clearly, Colin Kaepernick was years ahead of his time, but with these gestures now being so pervasive, the actual seriousness of the real message that was intended, has been lost. The protests and statements don’t have the same power these days, but then again gestures aren’t what really matter here- it’s actual change.

CBS Analyst and former NFL wide receiver Nate Burleson said it best– it’s about actually walking the walk, and not just talking the talk. It’s one thing to say you want social change, because it makes you look like you’re on the right side of history. It’s an entirely different thing to actually get in the streets, with the people, and do the political action that’s required.

During the first NFL pregame morning show of the season, the NFL on CBS roundtable got right into it.

“One of the big stories, of course, coming out of Thursday night’s football matchup, the Texans remaining in the locker room for the national anthem,” said host James Brown. “But you know what, right before kickoff, both teams came together midfield locking arms in a show of unity, which, Boomer, surprisingly was met with a chorus of boos.”

“It’s unfortunate, but I will tell you this, in talking to Frank Reich, the head coach of the Colts, throughout all of this the last six months, he has said to me he’s never been on a team that’s been this close and this unified,” responded Analyst Boomer Esiason.

“That’s the key word. It is unity. Today the Colts are going to send a message — I’m not really sure what the message is going to be, but it’s going to be a powerful message, according to their head coach Frank Reich.

“I have to tell you, anybody that’s ever been in the locker room understands what this means for everybody who puts on those shoulder pads, and I think most organizations are actually trying to carry the message of the players.”

Added Burleson: “I get why players stand, take a knee, or stay in the locker room, but the demonstrations turn the conversation. I’ll just say this. If the conversation doesn’t turn to action, then it’s quite pointless.”

“I want you guys to stick around. I have conversation with Calais Campbell of the Baltimore Ravens, and they’re very specific and comprehensive in what they want on a local level. If every team takes that as an example, I think we’ll be in a better place.”

Burleson referenced the Ravens, and it was their head coach, John Harbaugh, who gave a statement about the movement that was powerful as anything said by anyone in the league, thus far.

Super Bowl winning quarterback and New York Giants club legend Phil Simms has also chimed in, recognizing what happened earlier this summer, and how it’s truly been the strongest action taken so far. 

“A great example for all sports coming together is Jacob Blake, when he got shot up in Wisconsin seven times in the back, the NBA, NFL, hockey, all cancelled games, NFL teams cancelled practice,” said Simms.

“I think that’s a great thing. If all NFL owners unite with the players, they can really help create change.”

Perhaps it was legendary former Pittsburgh Steelers head coach BILL COWHER who summed it all up best however:

“When you think about the NFL, it is the most diverse league in professional sports, diverse in socioeconomic upbringing, diverse in race, diverse in gender. We have women coaches, women in the front office, but yet every team is trying to create a family culture based on unconditional relationships.”

“We don’t all have to agree on everything, but we have to respect everybody because we have not walked in your shoes, and I say this to the fans, please don’t be judgmental today.”

“Listen to the statements that these teams are making. This is not about the flag. I love this country, but we can all do better. Please vote.”

Well said coach.

Paul M. Banks runs The Sports Bank, partnered with News Now. Banks, the author of “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry,” has regularly appeared in WGN, Sports Illustrated, Chicago Tribune and SB Nation. Follow him on Twitter and Instagram.

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