Based on his appraisal, the condo market has fallen 50% in the past 5-6 years. All documentation I've read, etc. as well as area sales indicate the market has fallen in the range of 20-25%, 30% at it's peak. If you are in the market for an appraisal, appraisers can make the process a good and fair experience, as I've had many times before (I've moved and sold over 15 homes and condo units). My interactions with Mr. Baiocchi was the worst exprience I've ever had with an appraiser. I would HIGHLY recommend taking your business to someone who's more professional, personable and prompt.
Description of Work: I was in process of refinancing condo with Wells Fargo. As a part of the process I was randomly assigned to James Baiocchi (who's also license is listed at 5344 N Luna Ave, Suite #2 Chicago, but also as a part of JAL Appraisaing LTD). He was 'bothered' on the phone when I tried asking questions and told me that 'he didn't have time to provide me with an appraisal class and that he had completed 15k appraisals, and that although I may not agree with his outcome the fact is he knew what he was doing and didn't need to train me on the process.' He set up an appointment for 10-27 (he had called the week before when I was traveling on business and was put out because my schedule didn't match his). I immediately felt uncomfortable and contacted Wells Fargo to talk through the fact that I was very concerned over the way he had interacted with me on the first call. My Wells Fargo rep said let's move forward (since banking laws would not let them intervene or use someone that they would feel comfortable with). My second interaction with Mr. Baiocchi was him calling me on Tuesday 10-25 and asking if we had an appointment. Remember this was after him being pushy on the first call and saying we HAD to set up an appointment within 10 days of his initial contact or he wouldn't be following the appropriate process. I explained to him a second time, yes, as per your request, we have an appointment at 10 am on Thursday (2 days laters). He said, oh yeah, I couldn't remember for certain, but assured me he would be there. I took off from work for a half day on Thrusday morning to ensure I would be there for our 10 am appointment. When he didn't show-up, I called his cell phone and his office and there was no answer, I explained that I would wait until 11:15 am before needing to leave for work. I also contacted Wells Fargo to let them know about the situation. He finally showed up at 10:55 am, no explaination, no apologies. He couldn't find my name on the automated registry (although it's clearly there) and so I went down to lobby and let him in the building. I asked if he would like to see public spaces, parking or storage lockers, and the answer was no. He walked in my condo, took a few photos (ktichen, bathrooms, master bedroom and livingroom area) and left - he was in unit for less than 6 minutes. Although I tried to engage him in conversations, he said he had everything he needed and left. Since the appraisal was completed I've spoken to other professionals in the field and they say his work is questionable at best.
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FAQ
JAL Appraising Ltd is currently rated 1 overall out of 5.
No, JAL Appraising Ltd does not offer free project estimates.
No, JAL Appraising Ltd does not offer eco-friendly accreditations.
No, JAL Appraising Ltd does not offer a senior discount.
No, JAL Appraising Ltd does not offer emergency services.
No, JAL Appraising Ltd does not offer warranties.
JAL Appraising Ltd offers the following services: Mortgage refinancing, employee relocation, estate planning & divorce settlement.