Metro-West & World Appraisal August 2004 Newsletter



		Volume I, Issue 5 August, 2004
	Metro-West and World Appraisal offers 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 upcoming 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 - Updating an Appraisal Report Fannie Mae January 29, 2002 Updating an Appraisal Report: Under Fannie Mae guidelines they require that “the subject property must have been appraised within the twelve months that precede that date of the note and mortgage. If the appraisal report will be more than four months old on the date of the note and mortgage, we require the appraiser to at least inspect the exterior of the property and to review current market data in order to make a determination about whether the property has declined in value since the date of the original appraisal. When the appraiser determines that the property has not declined in value, the appraiser must provide a certificate to that effect. When the appraiser determines that the property has declined in value, the lender must obtain a new appraisal.” Click here for PDF copy - What do appraisers look for to be completed in appraising a home under renovations? Under Fannie Mae guidelines the house must be fully marketable. Kitchens must have counter top, cabinets, flooring and appliances. Bathrooms must have flooring, toilet, and shower or tub if applicable. If you have any questions please feel free to email us at: marketing@metrowestappr.com



	Feedback We have provided a quick, 3-question survey to be completed. Your feedback is important to us to know how to better serve you. Click here for survey Joke of the Month How about that turn around time? Quote of the Month “The future is not some place we are going, but one we create. The paths are not found, but made, and the activity of making them changes both the maker and the destination.” *– John Schaar*	Metro-West & World Appraisal *We invite you to stop by and meet our staff!* Please come by our office, meet the employees and see how our operation works! Metro-West & World Appraisal 27555 Executive Drive Suite 180 &185 Farmington Hills, MI 48331 For information or questions please email us at: marketing@metrowestappr.com Click here to view directions Visit us today at: www.metrowestappr.com Visit our sister company World Appraisal at: www.worldappraisal.com

	Appraisers Funny Stories Runaway Car… I went to appraise a new construction home, there was no one there to talk to, so I knew it wouldn’t take very long. I left my truck running, stepped out to put on my boots so that I could inspect the grounds of the new construction. I measured the house, did the exterior inspection and went back to the truck to change shoes so I could do the interior inspection with my truck still running. After the interior inspection was complete, I came out to find my truck gone. What the heck, I thought…I didn’t think anyone would steal my truck in this “brand new subdivision.” In disbelief, I walked to the Model Office to call the police. They began looking for my truck right away. “They couldn’t have gotten far,” the police stated. A few minutes later, I received a call. They’d found my truck. “What a relief,” I thought. I wanted to know who did this?? Was it some teenage knucklehead who thought this would be some funny joke? Who would steal my truck? Well, turns out somehow the P for PARK didn’t work today. My truck rolled about ¼ mile down a hill, over hay bails, through a field and ended dead smack in the back of a house in another subdivision !! Unbelievable!! Fortunately, no one was hurt. Lesson learned, never leave your car running!!
	Need An Appraisal? World Appraisal covers the entire United States! World Appraisal has staff appraisers in: California: Los Angeles and Orange counties Illinois: Cook, DuPage, Grundy, Lake, McHenry, and Will counties Michigan: Arenac, Clinton, Eaton, Gratiot, Hillsdale, Ingham, Iosco, Jackson, Lenawee, Monroe and Shiawassee counties. For more coverage areas and fees please visit us at: www.worldappraisal.com www.metrowestappr.com
	Did You Know? We have onsite training for your loan officers, bankers and underwriters. We have qualified appraisers that will come in and talk about what is involved in appraising a home and how you can get a better idea of the value of your client’s home. If you would like more information or to set up an appointment, please contact us at: marketing@metrowestappr.com Suggestions Metro-West & World Appraisal want to thank everyone for their great suggestions! Last months winner Jennifer Benaway from Quicken Loans won a $40.00 Gift Certificate to the restaurant of her choice for her great suggestion! 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.	Meet Our Florida Staff Pictured from left to right: Ryan Johnson, Gary Hamilton, Melissa Lester, Chris Denner

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