Slow Down?

[Joe Flacco]

It is not the typical slowdown of the last decade but everybody is on vacation right now. Loan officers, real estate agents, borrowers, buyers, sellers are all on vacation.

 

[BRCJR]

It is not the typical slowdown of the last decade but everybody is on vacation right now. Loan officers, real estate agents, borrowers, buyers, sellers are all on vacation.

Seems like a good time for Appraisers to be on vacation, too.

 

[Terrel L. Shields]

s the work really slow out there or is it just me?

It's just you. I am busy. Chopping firewood, running my rabbit traps, checking old razor blades to see if I can get an extra shave, straightening old nails, and other menial tasks of the impoverished.

not the typical slowdown

They never are...sigh.

a good time for Appraisers to be on vacation

Appraisers cannot afford Cancun or the Virgin Islands, and the Rockies are too cold...

 

[Overimprovement]

A little slower for me, but manageable. I took on 3 new clients this summer that have helped maintain my volume through the slow months. I know who my next 5 clients will need to be if it comes to that. I prefer a mix of 10-12 clients, am at 14 now though...

If its slow, great time to work on a plan--website, getting that list together of the top 25 mortgage originating lenders in your market (if your bread and butter is mort appraisals like me), etc.

I know many go THROUGH AMC's but the final decision is ALWAYS the lender/client on whether or not one is used, so get to know your local lenders too. A good word passed up the food chain at your bank can never hurt.

I do agree that its hard to know how much of the national slowdown is just seasonal, how much is overall demand eroding, and how much is alternative products, and even how much is staying in-house. Every appraiser that stops being independent and starts working for an AMC/appraisal mill makes it that much tougher for the ones not making that choice.

 

[Tim The Enchanter]

It feels like 10 years ago, and also the mid 1990's.
Way too slow.

 

[Deleted member 152047]

January and the end of summer seem to be consistently slow. That said, there are typically some crazy requests that we get with people trying to get stuff done before the end of the year, but we haven't had too many of those this year.

 

[Tom Woolford]

This slowdown (and entire 2018) feels more extreme than those in the past....
Hoping I'm wrong....

You're not. Did 5 Pre-foreclosures this month. First ones since 2008.

 

[bnmappraisal]

Of course this thread turned into a series of posts from "economic prognosticators" who want to predict the future.

Hahaha

Are we surprised?

 

[Michigander]

I was laid off in July from a review gig. It is taking me some time to get back up and running in both private and lender work, but it was exceedingly slow over the past four months, and just recently starting to pick up a bit. Of course, picking up a bit is one a week as opposed to one a month, but, still it is picking up here. Not so much lender work, but the referrals are ramping up.

December through mid-January tend to be rather slow, depending on where in the country you are. I am in Michigan, and we are really seasonal. When it is cold outside, only serious buyers brave the elements. Fewer tire-kickers on sales and open houses, but the divorces come out, as do relocation assignments.

 

[James Micozzi]

Hahaha

Are we surprised?

Not at all. Just hope nobody makes any decisions based on those wacky predictions.