Just talked to a good contact with an AMC (actually a good one that pays on time and based on scope of work). She said that they normally do 7,000 to 8,000 orders a month. Lately, they're lucky to do 1,000. Every once in a while, I'll go a couple of weeks and not hear from them, so I call in, touch base to prime the pump a little and then the orders start back up. Weird. Anyway, on the call this morning, I spoke with the supervising vendor relations person. She told they haven't had an order for Florida in weeks. While I was on the phone with her she ran through the counties,"Lake....nothing; Seminole.....nothing; Orange.......nothing." She said all of her appraisers are calling and saying, "You're killing me. Can't you send me anything?" She said everyone is speculating about what's going on --- some say that the banks are holding back and not doing anything right now, that maybe they're expecting that the government is about to do something (I don't even know what that means?).
Have we now officially entered the lending Twilight Zone??? :Eyecrazy:
I don't know - I'm not working for any AMCs, haven't done an AMC job since 1/07. But I find your contact's comments, "Lake....nothing; Seminole.....nothing; Orange.......nothing."
VERY hard to believe. But I wouldn't believe the AMC vendor-relations people I know if they told me the sky was blue. I'm working, but granted, my business is way down. I've just made a conscious decision I'm not going to wallow in the mud and I'm pretty much laying the groundwork for an allied career. I'll see what the landscape looks like after the dust settles, after 11/30/08, after I take a look at Florida's dropout rate.
I know this - one AMC calls me from time to time and says they have an order for me and asks if my fees are
still $zzz. I say yes and they say they will try to get it "approved" which sounds odd and, of course, I never receive the order. Happened 4-5 times since January. I have heard of one national appraisal sweat-shop in the Orlando area NOT turning down any orders at any price. Fact or fiction I don't know.
I'm taking lots of CE (appraisal and non-appraisal) classes and handing out business cards right and left. In one class of 14 individuals, 2 have commented such that I've determined they own 5 homes between them, 3 of which are rentals that have been vacant for months. Both individuals are talking about just letting them go.
One appraiser I know had 50K in his checking account around 1/07. He stated back then he was confident he had plenty of reserve funds, but he's down to 9K now and is looking at his savings account balances, and how much room he has on his HE loan. Big family - wife and 4 kids.
I know the drop-out is coming. As you know MLS fees were due recently. Paid mine - how do you work without it? But I've had quasi-friends I haven't heard from recently calling and asking for my MLS password and the current code.
So...
