Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > General Appraisal Discussion
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 09-16-2004, 04:32 PM
Jose Miguel Guerrero Jose Miguel Guerrero is offline
 
Join Date: Mar 2004
Location: Richmond, East Bay, California

Posts: 44
Default

Just wanted to know what was you guy’s & gal’s take on the Home Inspection Profession vs. Real Estate Appraisal Profession, the volume of work in the market at this moment, future forecast, etc. What make it increase, decrease, what are the advantages and disadvantages, your thoughts in general.
Thank you.
Sponsored Links

  #2  
Old 09-16-2004, 04:47 PM
Randy Beigh Randy Beigh is offline
 
Join Date: Jan 2002
Location: Spokane,WA

Posts: 3,334
Default

Jose

I'm no expert, so I will give you my take.

Apprasing deals with valuation, mild economics, nieghborhoods, etc. Home inspection deals with indepth technical inspection of the home.

The markets are different. Appraisers deal with the lending side. Home inspectors deal with the borrowers.

Money is probably near the same if the business is there, because while the home inspector doesn't do any outside the home research, he can spend several hours inside his subject. The appraiser will spend than one hour, but will do a lot of outside research.

Future. Tough one. The future of appraising is secure, but many will fall to the wayside because the field is changing so much that many will not be able to keep up and because of technology may need fewer appraisers in the future. They will be requred to know more than the current generation of appraisers. Many have ready, left. Home inspection is being encouraged more and more by agents who want less liability on them and more disclosure by the homeowners. This is a growing field, but a lot of the people that come into this are ex-contractors that have experience in building.

Hope this helps
  #3  
Old 09-16-2004, 05:37 PM
Frank Lostracco Frank Lostracco is offline
 
Join Date: Mar 2003
Location: Swedesboro, New Jersey
State: New Jersey
Professional Status: Certified Residential Appraiser
Posts: 258
Default

I hate walking the roof, so I rather be an appraiser and keep my feet on the ground.
  #4  
Old 09-17-2004, 08:47 AM
Jeff Horton's Avatar
Jeff Horton Jeff Horton is offline
 
Join Date: Jan 2002
Location: Heart of Dixie
State: Alabama
Professional Status: Certified Residential Appraiser
Posts: 2,962
Default

Every crawl through an 100+ degree attic in coveralls, gloves and a dusk mask?

Ever crawl a crawl space with cobwebs and mud?

Got stuck in a crawl space with no one at the house but you?

Taken a cover panel off a breaker box only to find out it is wired so that the box is hot and you could have been electrocuted taking the cover off?

I have. Thats just part of Home Inspecting. :mrgreen:
__________________
APPRAISING * The Profession that loves to eat it's own!
  #5  
Old 09-17-2004, 09:01 AM
tommcsherry tommcsherry is offline
 
Join Date: Mar 2004
Location: N38° 57.536' W123° 6.620'
State: Nevada
Professional Status: Certified Residential Appraiser
Posts: 1,681
Default

Been thinking that the advantage to home inspection is, instead of 20 minutes onsite and 5 hours worth of work at the office, you spend 1-2 hrs on site, half hour generating the report and never worry about it again....for the same money....who's got the better deal?
  #6  
Old 09-17-2004, 09:11 AM
Scott Lanz's Avatar
Scott Lanz Scott Lanz is offline
 
Join Date: Dec 2002
Location: Central Minnesota
State: Minnesota
Professional Status: Certified General Appraiser
Posts: 765
Default

From a professional standpoint, I think the Home Inspection business is a little more difficult for so called skippies to enter the field. I don't think 90 hours of class with no previous experience will suffice in the marketplace. Most of the inspectors I deal with have considerable construction experience.

The real estate firm I am associated with highly recommends an inspection on all properties purchased, to the point of paying for these out of pocket in some instances. If the buyers do not want a home inspection, a form is signed stating this for the file. I belive this is a positive trend that many agents will adopt if they haven't done so already.

Scott J. Lanz
  #7  
Old 09-17-2004, 10:30 AM
Jeff Horton's Avatar
Jeff Horton Jeff Horton is offline
 
Join Date: Jan 2002
Location: Heart of Dixie
State: Alabama
Professional Status: Certified Residential Appraiser
Posts: 2,962
Default

Quote:
Originally posted by tommcsherry@Sep 17 2004, 07:01 AM
Been thinking that the advantage to home inspection is, instead of 20 minutes onsite and 5 hours worth of work at the office, you spend 1-2 hrs on site, half hour generating the report and never worry about it again....for the same money....who's got the better deal?
:rofl:

If it were only that simple!
__________________
APPRAISING * The Profession that loves to eat it's own!
  #8  
Old 09-17-2004, 10:37 AM
Farm Gal's Avatar
Farm Gal Farm Gal is offline
 
Join Date: Jan 2002
Location: Currently: Midwest
State: Nebraska
Professional Status: Licensed Appraiser
Posts: 10,076
Default

Ya know...

I AM NOT a home inspector... But I have been around the block in terms of myself being involved in building new construction, also remodeling and fire damage repairs, and then personal inspection of over 15,000 windstorm, hurricaine, and earthquake damaged properties BEFORE becoming an appraiser (14 years in this field)...

Houses fail at their weak spots.

You begind over the eyars to KNOW what constitutes poor construction practice when you have seen hundreds and thusands of specific failures. Structural faults compound, Strengths last...

I agree that the Home inspection gig is probably a fairly good one in terms of being ethical... but ethcial HI's don't get future buisiness in my town.

I have written SOOO many reports in which the arguement goes on ; The Home inspector didn't say anything about that take it out of your report.

To which my response is not only no but HELL NO.

Show me where this concern does not exist or is inaccurate and I'll take it out... til then the words STAY .

One thing you need to be sure of is: do you want the responsibility fo being erceived as a HI when youare doing appraisals. Jeff Horton is one of our few folks who is brave enough to shoulder that responsibility. He is among the few. Litigation experts often advise against wearing dual hats. Even if one is stuffed in the closet, you can be accused of owning the expertise associated with that hat.

On the other hand the formal training DOES insure that you have a better idea of what to look for in a OBSERVATION of a house for forming an opinion of value... sadly that knowlege makes you a super-informed observer, and (the other-other hand) can really skew your opinion of value... because the buyers AREN'T super informed.
__________________
Live in such a way that you would not be ashamed to sell your parrot to the town gossip ~Will Rogers
  #9  
Old 09-17-2004, 08:23 PM
Mr Rex's Avatar
Mr Rex Mr Rex is online now
 
Join Date: Jan 2004
Location: X Marks the spot
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 26,386
Default

Obviously Tom is thinking of skippy inspectors. As an sinpector and appraiser I can say without dout that you can not possibly do the absolute minimum require of a home inspector in 2 hours, regardless of the size of the property. Of course I'm in NC, we have licensing and minimum requirements etc. But as an absolute rebuttal think of this, Appraisal E&O can be had for as little as $385. Mulitply by 10 or maybe 7 for a experienced inspector with no claims. I quote" Who's got the better deal? " get real. I estimate in my area, 10% of all sales result in Home Inspections. Every mortgage trasnsaction (Sale,Refi,REO, relo, etc) has to have an appraisal. Anybody want to guess which I do more of? Which is more lucrative?
__________________
You talking to me?
  #10  
Old 09-17-2004, 08:42 PM
TC's Avatar
TC TC is offline
 
Join Date: Jan 2002
Location: Isle of Malta
State: Pennsylvania
Professional Status: Certified Residential Appraiser
Posts: 12,063
Default

Quote:
Originally posted by Michael Radford@Sep 17 2004, 07:23 PM
. Every mortgage trasnsaction (Sale,Refi,REO, relo, etc) has to have an appraisal.
Not where I live, and more and more of the ones they do order are drive-by's.


TC
__________________
Alot does not exist as a word.
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 05:59 PM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93