Metro-West & World Appraisal November 2004 Newsletter



		Volume I, Issue 8 November, 2004
	News Home prices decline for 1st time since '93 Metro Detroit's drop blamed on glut of new homes, economic malaise, impact of Prop A By R.J. King / The Detroit News LIVONIA - Prices of existing homes in Metro Detroit are falling for the first time in more than a decade, a side effect of the region's sluggish economy and a glut of new homes in some suburbs. Through September, the median sale price for homes and condominiums in Metro Detroit was $165,828, down 0.9 percent from 2003, according to Realcomp II Ltd., which tracks local home purchases. By contrast, the nation's housing market has surged up 7 percent to $181,800 this year. Read the full story here New Staff Appraisers! World Appraisal covers the entire United States! World Appraisal now has new staff appraisers in: Arizona: Maricopa, Yavapai, and Yuma Missouri: Franklin, Jefferson, Lincoln, St. Charles, St. Francis, St. Louis, St. Louis City, St. Genevieve, and Warren Texas: Dallas, Rockwall, and Tarrant Utah: Cache, Davis, Morgan, Salt Lake, Tooele, and Weber Coming Soon: Georgia For more coverage areas and fees please visit us at: www.worldappraisal.com www.metrowestappr.com








	Metro-West & World Appraisal Holiday Schedule Metro-West & World Appraisal will be closed for the holidays on December 24th & December 31st. Metro-West & World Appraisal will only open from 8am-noon and will be closed the remainder of the day for our annual all company meeting on Friday, December 10th. We apologize in advance for any inconvenience. If you have further questions or concerns please contact us at: marketing@metrowestappr.com
	Appraisers Funny Stories Never Speed! I was running late to an appointment, I wanted to be there on time to make a good impression. Unfortunately the appointment was pretty far from where I lived. I got into my truck and started on the road, normally I don’t speed but I had to get there! I was going really fast about 85-90 on the highway. All of a sudden I heard this really weird noise and I looked up to see that the hood of my truck had come unlatched and flipped up! I couldn’t see so my first reaction was to swerve and slam on the brakes. Well when I did this, the hood flew down and back up and shattered my windshield. Luckily, no one was hurt, I did however learn my lesson about speeding on the highway!
	*Myth or Reality:* * Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home. * Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad. * You generally can tell what a property is worth simply by looking at the outside of the home. Get the answers in next months newsletter!! Please email us at: marketing@metrowestappr.com Joke of the Month The Phone! A young businessman had just started his own firm. He rented a beautiful office and had it furnished with antiques. Sitting there, he saw a man come into the outer office. Wishing to appear busy, the businessman picked up the phone and stared to pretend he had a big deal working. He threw huge figures around and made giant commitments. Finally, he hung up and asked the visitor. "Can I help you?" The man said, "Sure. I've come to install the phone!" www.aplusjokes.com 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	Quote of the Month "We are what we repeatedly do. Excellence, then, is not an act, but a habit." ~ Aristotle ~ Meet Our Accounting Department Kristina Needham, Lynn McComb, Kathy Mrozek Did You Know? "The market value is the most probable price a property brings in a competitive and open market under all conditions requisite to a fair sale. A fair sale occurs when the price is not affected by undue stimulus and when both the buyer and seller act prudently and knowledgeably." For more information please contact: 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
	Questions & Answers Please email us at marketing@metrowestappr.com Your questions and our reply will appear in next months issue.	Visit us today at: www.metrowestappr.com Visit our sister company World Appraisal at: www.worldappraisal.com

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