Be the Driver, rather than just a passenger of your appraisal practice

[Tiffany Gibbons]

oh so today is the AMC rep. and all this fee data could be found in the dumpster down the street?

Yeah, and Freddie Mac just announced that access to borrower's Bank accounts would be used in determining eligibility for mortgages on Housin Wire, i think, But could only be used in a positive manner, not against borrowers.. if only,

 

[George Hatch]

But you dont have to listen to the prognostications of those who no longer work in the same sphere and seem to be adverse to you being an independent fee appraiser. My observations only from my experience.

If you want to engage me on any of these topics then by all means, you should feel free to do so directly.

 

[Dublin ohio]

This is not the lowest price for a Kindle or a TV.

I don't consider a Kindle or tv as a major purchase.

That being said no appraiser ever had to work for an AMC. I ignore them all the time, have never done AMC work and any good experienced appraiser can do the same thing.

Unfortunately (or maybe not). I don't live in your perfect fantasy world. There is a limited amount of alternate work in most markets. If it was as easy as you make it out to be. Every appraiser would be doing it. I will admit that since I am only licensed. It also limits my possibilities. But none the less. Lending related work is the lions share of the market. AMCs have the lions share of the lending market. I do some divorce, estate and other private work. But it is mostly though referrals. The majority of attorneys I know use CGs or small firms that have both CG and res appraisers. Simplifies the process. Since many times they are involved in estates that have commercial and residential holdings. I have done quite well for myself during the 29 years I have been in the business. Each to their own

 

[Tiffany Gibbons]

I don't consider a Kindle or tv as a major purchase.


Unfortunately (or maybe not). I don't live in your perfect fantasy world. There is a limited amount of alternate work in most markets. If it was as easy as you make it out to be. Every appraiser would be doing it. I will admit that since I am only licensed. It also limits my possibilities. But none the less. Lending related work is the lions share of the market. AMCs have the lions share of the lending market. I do some divorce, estate and other private work. But it is mostly though referrals. The majority of attorneys I know use CGs or small firms that have both CG and res appraisers. Simplifies the process. Since many times they are involved in estates that have commercial and residential holdings. I have done quite well for myself during the 29 years I have been in the business. Each to their own

Yes, that was kind of my point about major purchase? It is not a fantasy world. If you are willing to settle for less, you'll get less. I like to learn. Example: Have you noticed only 1 appraiser on this forum knows anything about mineral rights? That interests me. Why would you remain at licensed only for 29 years? At the time I got my CR 30 years ago, it was only a 2 more 30 hour classes, income related. It was the same 2000 hours of experience. Maybe other states are different. Well, good luck to you, each to their own as you said.

 

[Dublin ohio]

Yes, that was kind of my point about major purchase? It is not a fantasy world. If you are willing to settle for less, you'll get less. I like to learn. Example: Have you noticed only 1 appraiser on this forum knows anything about mineral rights? That interests me. Why would you remain at licensed only for 29 years? At the time I got my CR 30 years ago, it was only a 2 more 30 hour classes, income related. It was the same 2000 hours of experience. Maybe other states are different. Well, good luck to you, each to their own as you said.

What is with you condescending attitude. As far as not getting certified. At the time I saw no real advantage to it. Million dollar properties did and still make up a relatively small percentage of properties in my area. Even though I have quite a few of them within a mile or two of my house. I have still done quite a few refi appraisals that appraised for more than 1M. I was FHA approved. Until they pulled the rug out from licensed appraisers. I know many lenders "require" cert res appraisers. But I have waivers on file with numerous lenders that allow me on their panels. I am still relatively busy for some reason. 12 assignments this month. Which is only about 8 or so less than I was doing a year ago. I have carved out a rural niche. So maybe I am not as uneducated as you infer.

 

[Tiffany Gibbons]

What is with you condescending attitude. As far as not getting certified. At the time I saw no real advantage to it. Million dollar properties did and still make up a relatively small percentage of properties in my area. Even though I have quite a few of them within a mile or two of my house. I have still done quite a few refi appraisals that appraised for more than 1M. I was FHA approved. Until they pulled the rug out from licensed appraisers. I know many lenders "require" cert res appraisers. But I have waivers on file with numerous lenders that allow me on their panels. I am still relatively busy for some reason. 12 assignments this month. Which is only about 8 or so less than I was doing a year ago. I have carved out a rural niche. So maybe I am not as uneducated as you infer.

So sorry I offended you somehow?

 

[J Grant]

WRT those who compare AMC to a consumer looking toe purchase a product or service at lower price :

1) The AMC does not shop low fee to purchase the appraisal ( as a service to use). The AMC does not use the Appraisal to make a lending decision ( because the AMC is not lending ) . The AMC sends the appraisal on to the lender., who is the user/buyer for the service. The AMC shops low fee to increase their markup as a middleman.

2) Normal consumer purchases results in C and R prices relative to similar quality because both buyers and sellers have freedom of choice. Freedom of buyer to engage directly with sellers , and freedom of seller to set X prices, because they have a huge pool of prospective direct buyers. Regulated mortgage lending prohibits direct engagement of a loan officer ( buyer to hire appraiser ( seller) With AMC's as the middleman between buyer and seller, it creates a narrow channel of demand ( agents for the buyer ) relative to appraisers as sellers. This effective supply/demand imbalance gives the AMC tremendous leverage over the fees of appraisers (vendors to the AMC)

WRT the tired old nobody forces an Appraiser to work for an AMC- of course not. But a vast majority of volume work on the res license side is mortgage work and a majority of it is funneled through the AMC';s (including AMC's as a different name division owned by certain lenders. ) There is a % direct lender work and other private work, but not enough to sustain the number of res licensed ..

.

 

[Dublin ohio]

So sorry I offended you somehow?

I kinda of liked your unedited version. More reflective of your personality

Be the Driver, rather than just a passenger of your appraisal practice - New reply to watched thread (DO NOT REPLY)

Goodness me, so sorry to have offended thee. Grow up​

You give yourself too much credit.

 

[glenn walker]

There is no C & R that was a term made up to appease a few goof Balls during Dodd -Frank . Each appraiser sets his/her own fees and either gets work or he doesn't. Most who get obsessed with C& R or about AMCs go broke as they are not flexible enough to survive self employment.

 

[glenn walker]

What is with you condescending attitude. As far as not getting certified. At the time I saw no real advantage to it. Million dollar properties did and still make up a relatively small percentage of properties in my area. Even though I have quite a few of them within a mile or two of my house. I have still done quite a few refi appraisals that appraised for more than 1M. I was FHA approved. Until they pulled the rug out from licensed appraisers. I know many lenders "require" cert res appraisers. But I have waivers on file with numerous lenders that allow me on their panels. I am still relatively busy for some reason. 12 assignments this month. Which is only about 8 or so less than I was doing a year ago. I have carved out a rural niche. So maybe I am not as uneducated as you infer.

Some are just Nagging Ninnies -