Michigan Association of REALTORS®

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A Letter To Our Members By John A. Meyer, SRA, 2007 MiCREA Chairman Well, summer is over and the kids are back to school, and it is time to get back to work after the vacations. A great way to get back into the swing of things would be to attend the MAR Convention and Expo in Mt. Pleasant. The first day of continuing education is Wednesday, September 26. At 12:30 pm Micheal Lohmeier will present Michigan Property Tax Appeal Basics. Although not specifically part of the appraisal track, this will be a great opportunity to expand your knowledge in this area, which could lead to more business, especially if there are a lot of real estate tax appeals this year due to the declining markets in many areas. Also on Wednesday, Kern Slucter will present the Spotlight on USPAP-Confidentiality. These are both approved for 2 hours of continuing education. On Thursday, September 27, the first appraisal track session of the day is at 8:30 am and is a presentation on Methamphetamine Contamination Response in Kalamazoo County. Do you know what to look for if you are appraising a property that might have been used as a meth lab? This might help. When Good Houses Go Bad is presented at 9:45 am for 2 hours of CE, Mortgage Fraud and the Real Estate Industry with Carole Bullion is presented at 1:30 pm and also approved for 2 hours of CE, and at 3:30 pm she wraps the appraisal track up with Highest and Best Use of the Land which is approved for 1 hour of CE. So, on Wednesday there are 4 hours of applicable CE offered and on Thursday there is another 5 hours. And these are just the appraiser related offerings! Check out the commercial offerings and the management, technology and agent offerings. You cannot afford not to be there! What else has MiCREA been doing? We now have a page in the Michigan REALTOR® magazine – see page 28 of the September issue. The goal is to have articles on current hot topics geared to appraisers and residential real estate practitioners. Look for this page in every issue of the REALTOR®. Have you checked out the competition in your area with the Find an Appraiser link on the MiCREA home page? This is a great tool for referrals and assisting clients if they have a need for an appraiser outside your area. One more service you can provide! This is an exciting and challenging time. We must stay ahead of the curve with more education, contacts, technology, and hard work. The Convention will assist you in most of these areas, and get you away from the hard work for a day or two. See you there! top MAR Convention Offers 9 Hours of Appraiser CE!! MAR is excited to offer its appraiser members not only real estate continuing education, but also appraiser education at its upcoming Convention & Expo, taking place next week, September 26 – 28 at Soaring Eagle Casino & Resort in Mt. Pleasant. There are over 70 hours of real estate CE approved for the Convention, including the must have legal CE. There will also be nine hours of appraisal CE. They are as follows: Wednesday, September 26 Michigan Property Tax Appeal Basics presented by Micheal Lohmeier 2 hours CE Spotlight on USPAP – Confidentiality presented by Kern Slucter 2 hours CE Thursday, September 27 When Good Houses Go Bad presented by Craig Harrington 2 hours CE Mortgage Fraud and the Real Estate Industry presented by Carole Bullion Highest and Best Use of Land presented by Carole Bullion - combined with the above class for 3 hours of CE With all of this CE, the 2007 Convention & Expo is an amazing value! Register today at the MAR Web site. Other Convention highlights include: The President’s Golf Outing – Cash Prizes! Must register at the MAR Web site. The Grand Assembly, featuring the juggling duo The Passing Zone. Chain saws will be involved! The RPAC Silent Auction. Make your donation to RPAC by bidding on some great baskets put together by local associations. Find all of your business needs under one roof at the Expo. Find out more information on these events, as well as all the education sessions at the MAR Web site. Hurry – Convention is NEXT WEEK!!! top Balanced Budget Needed as Potential Government Shutdown Looms Last week, House Speaker Andy Dillon (D-Redford) vowed to “stay until the job is done” when he called the House into session. The “job” is to solve Michigan’s $1.75 billion deficit in the 2008 budget. As Friday night turned into Saturday morning, and Saturday night into Sunday morning, the Speaker still did not have a deal on the table to implement reforms and pass a proposed $1.1 billion hike in the state income tax. The proposal, in the form of House Bill 5194, remained on the board for the entire weekend but did not have the necessary votes to pass. If passed, it would raise Michigan’s income tax rate from 3.9 to 4.6%. With no Republican support and numerous Democrats withholding their vote, the bill remained at a standstill. Note that many of the Democratic holdouts include “vulnerables” who narrowly won their seats in the last election cycle and are keenly aware of their districts’ sentiments when it comes to increasing taxes. Meanwhile, the Senate was back in session, voting on their version of a tax increase, this time proposing an income tax increase to 4.3%. However, the Senate Democrats rejected the proposal, stating that the increase was not enough to fill the $1.75 billion budget hole. Now, the legislature has less than 11 days to come up with a balanced budget by October 1st, or a government shutdown of some capacity will be the only option. The MAR staff has been active throughout the marathon session days and continues to meet with legislative leaders to help play a constructive role in identifying government reforms that might solve the problem. The MAR strongly opposes any form of tax increase without them. The burden of government living beyond their means is felt by all Michigan citizens, and the MAR members want real reforms and cuts before any additional money comes out of the pockets of Michigan residents. top Your Appraisal Questions Answered Q: It is my understanding that the appraiser examinations used by the states will be changing. Is this correct and, if so, when will this occur? A: There are two changes occurring that are related to the state examinations. First, new examination content outlines have been developed and will become effective at the same time as the new Criteria, January 1, 2008. Secondly, consistent with its Title XI charge, the AQB will be developing Uniform State Appraiser Examinations. These examinations will become effective on January 1, 2008. Examination providers may develop their own examinations, but the exams will need to be reviewed and approved by the AQB as being equivalent to the AQB examinations. top	MiCREA Monthly September 2007 • Chairman's Letter • MAR Convention Offers 9 Hours of Appraiser CE!! • Balanced Budget Needed as Potential Government Shutdown Looms • Your Appraisal Questions Answered

A Letter To Our Members

By John A. Meyer, SRA, 2007 MiCREA Chairman

Well, summer is over and the kids are back to school, and it is time to get back to work after the vacations. A great way to get back into the swing of things would be to attend the MAR Convention and Expo in Mt. Pleasant. The first day of continuing education is Wednesday, September 26. At 12:30 pm Micheal Lohmeier will present Michigan Property Tax Appeal Basics. Although not specifically part of the appraisal track, this will be a great opportunity to expand your knowledge in this area, which could lead to more business, especially if there are a lot of real estate tax appeals this year due to the declining markets in many areas. Also on Wednesday, Kern Slucter will present the Spotlight on USPAP-Confidentiality. These are both approved for 2 hours of continuing education.

On Thursday, September 27, the first appraisal track session of the day is at 8:30 am and is a presentation on Methamphetamine Contamination Response in Kalamazoo County. Do you know what to look for if you are appraising a property that might have been used as a meth lab? This might help. When Good Houses Go Bad is presented at 9:45 am for 2 hours of CE, Mortgage Fraud and the Real Estate Industry with Carole Bullion is presented at 1:30 pm and also approved for 2 hours of CE, and at 3:30 pm she wraps the appraisal track up with Highest and Best Use of the Land which is approved for 1 hour of CE.

So, on Wednesday there are 4 hours of applicable CE offered and on Thursday there is another 5 hours. And these are just the appraiser related offerings! Check out the commercial offerings and the management, technology and agent offerings. You cannot afford not to be there!

What else has MiCREA been doing? We now have a page in the Michigan REALTOR® magazine – see page 28 of the September issue. The goal is to have articles on current hot topics geared to appraisers and residential real estate practitioners. Look for this page in every issue of the REALTOR®.

Have you checked out the competition in your area with the Find an Appraiser link on the MiCREA home page? This is a great tool for referrals and assisting clients if they have a need for an appraiser outside your area. One more service you can provide!

This is an exciting and challenging time. We must stay ahead of the curve with more education, contacts, technology, and hard work. The Convention will assist you in most of these areas, and get you away from the hard work for a day or two. See you there!

top

MAR Convention Offers 9 Hours of Appraiser CE!!

MAR is excited to offer its appraiser members not only real estate continuing education, but also appraiser education at its upcoming Convention & Expo, taking place next week, September 26 – 28 at Soaring Eagle Casino & Resort in Mt. Pleasant. There are over 70 hours of real estate CE approved for the Convention, including the must have legal CE.

There will also be nine hours of appraisal CE. They are as follows:

Wednesday, September 26

Michigan Property Tax Appeal Basics presented by Micheal Lohmeier
2 hours CE

Spotlight on USPAP – Confidentiality presented by Kern Slucter
2 hours CE

Thursday, September 27

When Good Houses Go Bad presented by Craig Harrington
2 hours CE

Mortgage Fraud and the Real Estate Industry presented by Carole Bullion

Highest and Best Use of Land presented by Carole Bullion - combined with the above class for 3 hours of CE

With all of this CE, the 2007 Convention & Expo is an amazing value!

Other Convention highlights include:

The President’s Golf Outing – Cash Prizes! Must register at the MAR Web site.

The Grand Assembly, featuring the juggling duo The Passing Zone. Chain saws will be involved!

The RPAC Silent Auction. Make your donation to RPAC by bidding on some great baskets put together by local associations.

Find all of your business needs under one roof at the Expo.

Find out more information on these events, as well as all the education sessions at the MAR Web site. Hurry – Convention is NEXT WEEK!!!

top

Balanced Budget Needed as Potential Government Shutdown Looms

Last week, House Speaker Andy Dillon (D-Redford) vowed to “stay until the job is done” when he called the House into session. The “job” is to solve Michigan’s $1.75 billion deficit in the 2008 budget. As Friday night turned into Saturday morning, and Saturday night into Sunday morning, the Speaker still did not have a deal on the table to implement reforms and pass a proposed $1.1 billion hike in the state income tax. The proposal, in the form of House Bill 5194, remained on the board for the entire weekend but did not have the necessary votes to pass. If passed, it would raise Michigan’s income tax rate from 3.9 to 4.6%. With no Republican support and numerous Democrats withholding their vote, the bill remained at a standstill. Note that many of the Democratic holdouts include “vulnerables” who narrowly won their seats in the last election cycle and are keenly aware of their districts’ sentiments when it comes to increasing taxes. Meanwhile, the Senate was back in session, voting on their version of a tax increase, this time proposing an income tax increase to 4.3%. However, the Senate Democrats rejected the proposal, stating that the increase was not enough to fill the $1.75 billion budget hole. Now, the legislature has less than 11 days to come up with a balanced budget by October 1st, or a government shutdown of some capacity will be the only option.

The MAR staff has been active throughout the marathon session days and continues to meet with legislative leaders to help play a constructive role in identifying government reforms that might solve the problem. The MAR strongly opposes any form of tax increase without them. The burden of government living beyond their means is felt by all Michigan citizens, and the MAR members want real reforms and cuts before any additional money comes out of the pockets of Michigan residents.

top

Your Appraisal Questions Answered

Q: It is my understanding that the appraiser examinations used by the states will be changing. Is this correct and, if so, when will this occur?

A: There are two changes occurring that are related to the state examinations. First, new examination content outlines have been developed and will become effective at the same time as the new Criteria, January 1, 2008. Secondly, consistent with its Title XI charge, the AQB will be developing Uniform State Appraiser Examinations. These examinations will become effective on January 1, 2008. Examination providers may develop their own examinations, but the exams will need to be reviewed and approved by the AQB as being equivalent to the AQB examinations.

top

MiCREA Monthly
September 2007

• Chairman's Letter

• MAR Convention Offers 9 Hours of Appraiser CE!!

• Balanced Budget Needed as Potential Government Shutdown Looms

• Your Appraisal Questions Answered

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