Publishers Opinion
November 2009
This issue marks the 227th edition of our printed magazine and the 10th edition of our digital e-magazine. 
 When the economy croaked last year, our company decided to take a tough stance by continuing to publish every month and even took a leap of faith by running an e-magazine that shadows the printed edition. While everyone understands the printed edition, the biggest question we got about the e-magazine was: why spend more money when the economy doesn’t justify more expense?
 Based on surveys and website activity, we estimate 71 percent of our readers prefer paper over digital, 22 percent prefer digital, and 8 percent have signed up to receive both. I expect these numbers to change as people become familiar with the digital, older paper people retire, and the new digital people continue to enter the market.  There are a few reasons we do the e-magazine.
 The 22 percent who prefer digital often only use the computer for their news rather than reading a paper magazine.  The e-magazine has greatly increased our readership with the addition of these digital readers. 
  The e-magazines are held on our home page for one year.  Have you ever needed to do research on an article but you can’t find an older magazine, or it has coffee stains on it, or its worn from being very well read? Go to our webpage. Even after a year, they look as fresh as the day they first came out.
 Another important advantage is the ability to reforward an e-magazine by placing the link in your email and sending to whoever you want–wherever you want–whenever you want. Oh, I didn’t even mention that all ads in the e-magazine link directly to an advertiser’s website increasing the traffic to their sites–a really nice feature.
 We are now working on our Year-End Review/Holiday Issue.  We will see you then.

by roger krieg

December 2009
The stories of predatory lending, homeowners in trouble, collapsing home values, and high number of foreclosures, perhaps were the most dominate news stories this year.
 There are many factors that contributed to the downfall of the economy and there is so much blame to pass around that I could probably dedicate a page to it in every issue for the next ten years.   
 Here is one example of an important problem that needs to be addressed to help avoid future failures.   This simple example could apply to many professions but today I will pick on appraisers.  
Did you know its easy getting a job as an appraiser?  With very limited education, anyone could become an appraiser just by saying I am an appraiser today.   One of the hardest jobs to get is a licensed appraiser. Why is that?   To get a license, an appraiser must follow strict rules based on the Uniform Standards of Professional Appraisal Practices.  These rules protect the buyer and seller both.  
 Now think about it–who is appraising properties and with how much knowledge is used in an appraisal?   A licensed appraiser takes many hours of education  in order to to be an expert in their field.  An unlicensed appraiser can only guess based on whatever they feel is important.  They can make a market analysis which is accepted by many lenders.  Being hired by a lender and knowing the purchase price and mortgage amount of a property may sway an unlicensed appraiser to work harder at justifying the asking price rather than finding the true value.
The licensed appraiser will make an educated decision on a property based on the many variables involved. The final appraised value is based on an in depth analysis, thus coming up with a more realistic value of the property.       Another concern is the use of out-of-state appraisers who may or may not even look at the property and have limited experience in this market. Chicago’s real estate is unique as is almost every market.  You need a local expert who knows the local market.
 You want to fix the real estate market in the future–start by standardizing the valuation process by requiring a licensed appraiser doing a real appraisal.
 We are now working on our January New Construction issue.  I wish everyone a wonderful holiday season and may you all have a VERY, VERY prosperous New Year.

by roger krieg