Michigan Association of REALTORS®

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A Letter To Our Members By Beth Graham, ePRO, LTG, TRC, PMN, 2008 MiCREA Chairman Here we are in 2008! I was just reading our MAR President’s, article in the January 2008 Michigan REALTOR® entitled, “Survival of the Fittest”. What a great article to sum up our current market situation. Do you have what it takes to be fit in 2008? Are you taking steps now to adjust or to die? Our market has changed and we all need to address our business practices and make goals to stay current and connected with the real estate world to ensure survival. Start fresh in 2008 by reviewing your software templates, the way you take field notes, your adherence to USPAP and don’t forget to make a plan to get quality education. Can your appraisal reports stand on their own if you had to submit your work files to a higher authority? I encourage appraisers to write, interview and photograph more when they are out in the field. I also encourage you to get to know your local government officials to keep current with local issues affecting the properties you appraise. Also, networking with other REALTORS® is one of the best ways to help analyze our current market and makes it easier to write those long paragraphs that are now required for discussing declining markets. MAR created MiCREA to provide more service to its appraiser members. Please take advantage of the MiCREA section on the MAR Web site. This site makes it easy to find an appraiser to place a referral or to get market information, find assessor data or to find quality educational opportunities within our state. Please take advantage of what MAR and MiCREA have to offer you as an appraiser to make your job a little easier. We appreciate your suggestions and encourage your participation with MiCREA and your local associations. I wish you all success in 2008! top Add Online Social Networking to Your Professional Resume MAR is pleased to announce the creation of an MAR Group on the popular social networking site Facebook. Already over 50 members have joined this group and you can too. This group is exclusively for MAR members, which includes MiCREA members. This will allow members to access each other, network and hold discussions. You can also get to know your 2008 MAR leadership. If you do not already have a Facebook account, you can sign up for free at www.facebook.com and request to be added to the MAR Group. Make sure the appraisers and MiCREA are well represented; join the group today! top Have Appraisal Industry Questions? MiCREA would like to answer your questions. Please send your question to abates@mirealtors.com and it could be featured in an upcoming MiCREA enews with the answer. Let MiCREA be a resource for your professional needs and submit your questions today. top The Importance of Appraisals in a Declining Market The Comparative Market Analysis (CMA) is taking on more importance as the market changes. In addition to establishing a relative asking price or market value of properties in an area, the CMA actually impacts how the loan approval process might proceed after the offer is accepted. Read more... top Invitation to Comment on USPAP and USPAP Education Appraisal Standards and Qualifications boards are evaluating Uniform Standards of Professional Appraisal Practice. Comment by Feb. 25. Read More top	MiCREA Monthly January 2008 • Chairman's Letter • Online Social Networking • Appraisal Industry Q&A • Importance of Appraisals in a Declining Market • Comment on USPAP and USPAP Education

A Letter To Our Members

By Beth Graham, ePRO, LTG, TRC, PMN, 2008 MiCREA Chairman

Here we are in 2008! I was just reading our MAR President’s, article in the January 2008 Michigan REALTOR® entitled, “Survival of the Fittest”. What a great article to sum up our current market situation. Do you have what it takes to be fit in 2008? Are you taking steps now to adjust or to die?

Our market has changed and we all need to address our business practices and make goals to stay current and connected with the real estate world to ensure survival. Start fresh in 2008 by reviewing your software templates, the way you take field notes, your adherence to USPAP and don’t forget to make a plan to get quality education.

Can your appraisal reports stand on their own if you had to submit your work files to a higher authority? I encourage appraisers to write, interview and photograph more when they are out in the field. I also encourage you to get to know your local government officials to keep current with local issues affecting the properties you appraise. Also, networking with other REALTORS® is one of the best ways to help analyze our current market and makes it easier to write those long paragraphs that are now required for discussing declining markets.

MAR created MiCREA to provide more service to its appraiser members. Please take advantage of the MiCREA section on the MAR Web site. This site makes it easy to find an appraiser to place a referral or to get market information, find assessor data or to find quality educational opportunities within our state.

Please take advantage of what MAR and MiCREA have to offer you as an appraiser to make your job a little easier. We appreciate your suggestions and encourage your participation with MiCREA and your local associations.

I wish you all success in 2008!

top

Add Online Social Networking to Your Professional Resume

MAR is pleased to announce the creation of an MAR Group on the popular social networking site Facebook. Already over 50 members have joined this group and you can too. This group is exclusively for MAR members, which includes MiCREA members. This will allow members to access each other, network and hold discussions. You can also get to know your 2008 MAR leadership. If you do not already have a Facebook account, you can sign up for free at www.facebook.com and request to be added to the MAR Group. Make sure the appraisers and MiCREA are well represented; join the group today!

top

Have Appraisal Industry Questions?

MiCREA would like to answer your questions. Please send your question to abates@mirealtors.com and it could be featured in an upcoming MiCREA enews with the answer. Let MiCREA be a resource for your professional needs and submit your questions today.

top

The Importance of Appraisals in a Declining Market

The Comparative Market Analysis (CMA) is taking on more importance as the market changes. In addition to establishing a relative asking price or market value of properties in an area, the CMA actually impacts how the loan approval process might proceed after the offer is accepted.