Richard Glesser

Cutting entitlements should start with Congress. They are elected to serve, not to become an elitist group with lifelong pensions, medical care, and benefits. Time to roll the clock back to when they served and then went back into their old jobs they held before elected with no "cushion" on the backs of the American people.

Just completed a VA appraisal report for a veteran who had entered into a lease-purchase two years ago. Unfortunately, the value is nowhere near the price set at that time - 24% lower! This would not have happened 10 years ago when market values were steadily increasing. But during the past several years, such transactions have become questionable.

The first error was failure to attain an appraisal at the time of the original agreement. The overall market has not declined 24% which leads to the conclusion that the original purchase price was beyond the actual value. An appraisal was not done because it was not required and the borrower was trying to save money - which may have cost considerably more 2 years later.

At this point, the seller will need to reconsider the selling price, the borrowers come up with additional down payment, or the deal's done. Both parties have exposure since the seller would have to go through an eviction process to relist the home which would not sell because it would be over-priced. Secondly, the borrower, in the lease agreement, had $250 per month being attributed to down payment for 2 years which totals $6,000 and could stand to lose it.

Just another pitfall in today's real estate market.

Driving north this morning on several main two-lane highways, I grumpled under my breath as I crept along following the numerous travel trailers which slowed on every incline. It almost seemed as though someone put out a memo which I'd missed stating all vehicles must have a travel trailer or boat. Then I settled back remembering the numerous holiday weekends I encountered this type traffic on Friday and Sunday nights and thought: "Why don't they travel on off hours instead of backing up traffic?" I guess, since it was Thursday, that's what has happened. But coming south this evening on I-75 was a breeze while the northbound side was filled with headlights. Glad I opted to get my inspections done before the weekend. Wishing all a safe and pleasant holiday weekend.

Added attraction is the start of the National Cherry Festival this weekend in Traverse City with the forecast beautiful for the next several days.

Friday evening I received an e-mail contact from an AMC frantically trying to locate an appraiser for a property in Northern Michigan after most of the day with no success. I called him and he gave me the address of the purchase. I immediately asked him for the sale price as I recognized the property to be lakefront and more complex. After discussing the market area and my service area, I sent him my resume', coverage area, and company information. He was relieved to finally secure an appraiser and finish for the week, albeit well after 5 on Friday.

This morning, I checked my e-mails and found the appraisal request. Unfortunately, Monday morning he will find mine requesting a reasonable fee or putting him back into the appraisal search mode. The fee offered was 60% my standard fee for such a report and that which other competent local appraisers will accept. I wonder, after searching most of the day for me, whether he'll accept my quote or cancel and seek out "skippy". Further complications, are that the Realtors and buyers/sellers involved obviously applied for this loan sometime early last week with the appraisal request getting to the AMC by Thursday or Friday morning and now being delayed until at least Tuesday before contact will be made for an appointment. As a lakefront property, the buyers suredly desire to enjoy the property this summer and I'm sure the Realtors are eager for a rather substantial commission. The closing statement will also include an appraisal fee well above my standard fee. But all the delays, inconveniences, and excessive appraisal charges are a result of HVCC and the use of AMCs.

Northern Michigan is the home to the largest free-ranging elk herd east of the Mississippi River. These very large and magnificent creatures roam the woodlands from roughly I-75 on the west to Alpena County on the east and to the north of Gaylord. While Atlanta in Montmorency County, located on M-32, claims the title of Elk Capital of Michigan, some of the best viewing can be found very accessible in Vanderbilt, right on I-75 north of Gaylord. The Pigeon River Country State Forest lies to the east of Vanderbilt and directions to viewing areas can be attained locally. For equestrians, the Forest also offers some tremendous trails and campsites for extended rides.