What is the Value of my Home?
By: Andrew McInnes, Vice President, Chief Appraiser

There are many free websites which offer to "appraise" your house. Chances are many people have checked on their own home and also their neighbors. Zillow.com, RealEstateABC.com, HouseValues.com, Domania.com are a few of these websites. The question is, how accurate are they versus a real life appraisal from a licensed appraiser?

In some cases the answer may be fairly close, however, I checked in Michigan on a typical brick ranch in a newer Macomb Township neighborhood and the results were very different. There was a range from $260,000 to $345,000. Domania.com was the highest valuation. Real life appraisal: $275,000

I found the vast majority of differences were in non "cookie cutter" subdivisions. That is to say homes were not all the same size, style, and design.

A licensed appraiser will physically inspect the property. They will measure the house for accurate square footage and take note of any modernization to the property and rate the overall condition. A complete comparative market analysis will be performed to determine a fair market value.

The bottom line is you can use these sites as a starting point but remember, they do not take into consideration any updates, i.e. bath, kitchen, windows, finished basements. Also they can not physically see the property.

Have fun with them, then order an appraisal.............

If you have any questions please contact us at marketing@metrowestappr.com

Sales of New Homes Fall 4.3%; Inventories Hit an 11-year High

By Rex Nutting From MarketWatch

Inventories of unsold homes rose to an 11-year high, while median prices flattened out. New-home sales are down 21.6% in the past year. So far this year, sales are down 14.2% to 682,000 from 796,000 at this time last year.

More Info Here

Next hot market...think Phoenix

By Todd Yates, realtytimes.com

(realtytimes.com) - Phoenix is a great real estate value right now for this reason: The run up experienced last year has calmed significantly, but the popularity of Phoenix as a destination...

More Info Here

Joke of the Month:

Reaching the end of a job interview, the Human Resources person asked the young MBA fresh out of MIT, "And what starting salary were you looking for?" The candidate said, "In the neighborhood of $125,000 a year, depending on the benefits package."

The HR Person said, "Well, what would you say to a package of 5-weeks vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50% of salary and a company car leased every 2 years - say, a red Corvette?"

The Engineer sat up straight and said, "Wow!!! Are you kidding?"

And the HR Person said, "Certainly, ...but you started it."

www.ahajokes.com

Sudoku Puzzle:

Click here for Rules/Instructions

Click for answers to puzzle

Fun Facts:

Does Lightning ever strike in the same place?

It is not true that lightning does not strike twice in the same place. In fact, tall buildings, such as the Empire State Building, in New York City, can be struck several times during the same storm. During one storm, lighting struck the Empire State Building 12 times.

How many volts are in lightning?

A stroke of lightning discharges from 10 to 100 million volts of electricity. An average lightning stoke has 30,000 amperes.

How is the distance of a lightning flash calculated?

Count the number of seconds between seeing a flash of lightning and hearing the sounds of thunder. Divide the number 5 to determine the number of miles away the lightning flashed.

"From The Handy Science Answer Book"

Riddles & Brainteasers:

What can be heard and caught but never seen?

Click here for the answer

This is as light as a feather, yet no man can hold it for long. What is it?

Click here for the answer

www.riddles.com

Recipe of the Month:

Dessert Special

Peanut Butter & Chocolate Rice Krispy Treats

Click here for the recipe

If you would like to submit your favorite recipe or if you are looking for something particular please email us at marketing@metrowestappr.com

I appraised an old home built in 1890 while workers were restoring it to its original state. 15 years previous, an older man stopped by the home who said he lived there as a little boy. He brought an album which included pictures of the past owners and the home as it looked 100 years previously. While in discussion they asked the man why there were no windows on the third floor turret. He said the original owner had a mentally challenged daughter who was kept locked up there and out of sight, because the family was too ashamed of her. The man did not know how old the girl was when she passed away. The present owners confessed they sometimes hear crying coming from that room! Immediately it gave me the goose bumps. Since then restorers have replaced the windows on the third floor.

Please email us at marketing@metrowestappr.com

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

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

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

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

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"There's no scarcity of opportunity to make a living at what you love. There is only scarcity of resolve to make it happen."

~ Wayne Dyer ~

To ensure that our appraisers are going above and beyond to service the homeowners, we have created a survey for the homeowners to either fill out online or call us to complete the survey. By completing the quick survey the homeowners name will be entered into a monthly drawing for a $100.00 dinner gift certificate to the restaurant of their choice.

Here at Metro-West & World Appraisal we are consistently striving for excellence to ensure that we are servicing our clients to our fullest capabilities. If you have any questions call us directly at 888-676-9237 and ask for either Lisa Rahaim or Cristy Thomas.