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      | DECEMBER 2003 | A Publication of 
ELLIOTT® & Company Appraisers    |  
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      | Happy Holidays 
      from ELLIOTT® & Company Appraisers |  
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       All 
      of us at ELLIOTT® & Company Appraisers wish you a joyous and safe holiday 
      season and a prosperous New Year. 
      We appreciate the confidence our clients have placed in us, making 2003 
      another record year for our company.  
      
       We 
      will be open December 24 until 3 p.m. Eastern Standard Time. Our offices 
      will be closed December 25 and 26 and January 1 for the holidays. We will 
      be open for business on all other weekdays, including Friday, January 2, 
      during this holiday season, offering appraisal service in each of the 50 
      states. |  
  
  
      
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        | Builders 
        Increase Optimism For Next Year |  
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        |  A 
      late surge in demand this year has inspired the National Association of 
      Home Builders to boost its original projection of under a million homes to 
      be built in the United States this year to over a million. In October, the association, consisting of 211,000 
      members, who build over 80% of the homes in this country, predicted 
      994,000 new homes would be sold in 2004. That month, however, housing 
      starts increased to the highest level since 1985. With these positive 
      developments, the NAHB increased its ’04 forecast 4.6% to 1.04 million new 
      homes. |  
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                | Quotes 
                of Wisdom and Wit |  
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                “If we all worked on the assumption 
                that what is accepted as true is really true, there would be 
                little hope of advancement.”     – 
                Orville Wright
 “Discovery consists of seeing what everybody has seen and 
                thinking what nobody has thought.”
 – Albert Gyorgyi
 
 “Some will never learn anything because they understand 
                everything too soon.”     – Thomas Blount
 
 “A lot of fellows nowadays have a B.A., M.D. or Ph. D. 
                Unfortunately, they don’t have a J.O.B.”    
                – Fats Domino
 
 “Great spirits have always found opposition from mediocre 
                minds.”
 – Albert Einstein
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 ELLIOTT® & Company Appraisers 
            currently offers appraisal service throughout all 50 of the United 
            States. Clients are encouraged to place orders directly to any 
            office local to properties to be appraised or to the central office 
            for assignment.
 Orders may 
            be placed via telephone, fax or through the company's Web site. All 
            Internet orders will be processed through the central office. 
             
            Some 
            Offices Are Independently Owned and Operated
 |  | 3316-A Battleground AvenueGreensboro, NC 27410
     
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