Volume I, Issue I April, 2004

Introduction

Metro-West Appraisal Co., LLC is now offering a free monthly newsletter to help better serve our clients. Each month you will receive a newsletter with helpful tips, recent articles, monthly jokes and any up coming events. Please let us know if you have any suggestions you would like to see in our newsletter. We will also be answering any questions you might have.
 

Tip of the Month

Originators, Bankers & Loan Officers: Want to have less fall out?

Here are a few helpful tips to limit your appraisal issues:
 

• When taking the application, ask your borrower when they purchased their home and how much they paid for it. Remember: It’s a requirement for the appraiser to give YOU, the lender, a 3-year sales history and a 12-month listing of the subject property.
   

• Ask your borrower what they are basing their estimated value on? Are there homes like theirs in the immediate area that have recently (within the last year) sold and closed? Be leery if they just paid $150,000 three months ago and they now think it’s worth $200,000.
   

• Ask your borrower what major improvements (kitchen mod, bath mod, etc.) they have done since their purchase…REMEMBER~ Some improvements are routine maintenance and may not add value and major improvements rarely add dollar for dollar in value.
   

• Don’t assume appreciation rates. Area and price ranges throughout the country differ dramatically. Call your appraiser for recent information.
   

• Drive by Appraisals MAY NOT be as accurate or detailed as a full interior inspection. When in doubt, order a full appraisal!

News

Metro West & World Appraisal join with
FNC Network.

Mortgage originators using FNC’s Collateral Management System gain integrated access to appraisal services from two new sources

Oxford, MS (March 18, 2004) – FNC Inc. announced today that is has formed strategic alliances with residential appraisal companies Metro-West Appraisal and World Appraisal. The alliances will allow FNC’s mortgage-originator clients to access appraisal services from the two companies directly through FNC’s CMS collateral information management system.



Click here for the full story
 

Up Coming Events

Metro-West Appraisal has recently moved into
a new 10,000 square foot office located in
Farmington Hills, Michigan.

Join us for an Open House
When:  June 10th, 2004
Time:   4:00-8:00 PM
Where: Metro-West Appraisal
              27555 Executive Drive
                                                   Suite 180
                                                   Farmington Hills, MI 48331


We have Lions and Tigers tickets to give away!
Be the first 50 people to come and win much more!



For information or questions please email us at: marketing@metrowestappr.com

Joke of the Month

That’s The Policy

A customer moves away from a bank window, counts his change, and then goes back and says to the cashier “Hey, you gave me the wrong change!” “Sir, you stepped away from the counter.” said the cashier. “We don’t make corrections after you leave. There’s nothing I can do about it now. That’s the policy of this bank.” “Well, ok,” answered the customer. “Just thought you’d like to know that you gave me an extra twenty. Bye.”
For more jokes: www.bankersonline.com
 

Need An Appraisal?

Our coverage areas include:

Michigan:

Bay, Genesee, Lapeer, Livingston, Macomb, Monroe, Midland, Oakland, Saginaw, Shiawassee, St. Clair, Tuscola, Washtenaw, and Wayne.

Florida:

Brevard, Hernando, Hillsborough, Lake, Manatee, Pasco, Pinellas, Polk, Orange, Osceola, Sarasota, Seminole, and Volusia.

Visit us today at: www.metrowestappr.com

We also cover the entire United States!

Visit our sister company
World Appraisal at:
www.worldappraisal.com
 

Please welcome our newest appraisers to our growing staff of 35

Our Newest Appraisers!

Macomb, Oakland & Wayne Counties
 

Macomb, Oakland &
Wayne Counties
(Specializes in the
Detroit Area)
 

Macomb, Oakland &
Wayne Counties

Macomb, Oakland & Wayne Counties

Did You know

We have developed a new web site to accommodate all of our clients’ needs.
Please check it out at: www.metrowestappr.com

You now have access to all of our appraisers Licenses, Resumes, and E&O Insurance Policy.
You now can get status 24 hours a day on your appraisal by logging in the client section of our web site.
 

Suggestions

If you have some good ideas or suggestions for our newsletter, we would love to hear from you!

Please email us at: marketing@metrowestappr.com
 

Questions & Answers

Please email us at marketing@metrowestappr.com

Your questions and our reply will appear in next months issue.
 

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