This is why I got out of this profession

[glenn walker]

Fortunately for you and me, you could not afford to live next to me. Especially when you do appraisals for $100.

None of this has to do with brains I just happen be be born in a community where real estate prices have been crazy for over 50 years. Too often we take credit for our business skills, when in realty its just where we live and where we came from. I aint Squat in a New York City High rise but take me to most of PA and I am a Big Dog . None of this is because I am so smart , I just got lucky to be born where people pay insane prices for real estate.

 

[J Grant]

How about community recreation centers that impact health clubs or libraries that drive out bookstores or Home Depot that drive out Hardware stores, Why should appraising be any different? Welcome to the real world of creed. It all depends on what side of the fence you are on.

Do you pay the sticker price on our car? Do you shop at Walmart or the neighborhood store? Home Depot or the local hardware store?

As far as illegals go you eat the produce that they pick or the houses they built? Unfortunately, we all contribute to the problem to obtain the lowest price.

I don't shop as shi** Walmart selling Chinese-made crap and I buy certified organic, which typically does not use cheap labor from :"illegals" I choose to pay more for a number of things.

In a free market, consumers choose where to shop and how much to spend, with many choosing the mid-range price others the low, and others the high for the benefits and quality. And many people buying low-price goods do so because of a limited budget, they would love to be able to afford the better quality the higher prices buys.

A professional service like appraisal is not a mass-market consumer good ad it is not a store. And this is not about prices either, because with an AMC skimming off the fee, the consumer does not pay less, the AMC functions more like a mafia protection racket skimming fee as a way to get awarded an order

I am not even blaming just the AMC's, but the whole system that supports the awful way appraisers get their fees impacted by them.

 

[TC]

Things were much better before AMCs took over. At least it was for me.

 

[glenn walker]

Things were much better before AMCs took over. At least it was for me.

That ship sailed starting in about 1995 and has never looked back. Now add in the GSEs and the demise of the traditional full appraisal and waivers ,and you are now a local corner store and Amazon and on line has has crushed you. Hey most of us had a good 20 to 40 year run and we were lucky to have lasted this long.

 

[glenn walker]

I don't shop as shi** Walmart selling Chinese-made crap and I buy certified organic, which typically does not use cheap labor from :"illegals" I choose to pay more for a number of things.

In a free market, consumers choose where to shop and how much to spend, with many choosing the mid-range price others the low, and others the high for the benefits and quality. And many people buying low-price goods do so because of a limited budget, they would love to be able to afford the better quality the higher prices buys.

A professional service like appraisal is not a mass-market consumer good ad it is not a store. And this is not about prices either, because with an AMC skimming off the fee, the consumer does not pay less, the AMC functions more like a mafia protection racket skimming fee as a way to get awarded an order

I am not even blaming just the AMC's, but the whole system that supports the awful way appraisers get their fees impacted by them.

Let's see I am single and have a dog and no kids. I am a vegan- I buy organic even though its much higher in price because I can afford to do it for one person. I don't shop at Wal Mart because I can afford to purchase nice clothes and nice things. I think I dont by Chinese made products but my I Phone and my computers and mt TVs are all made i foreign Nations. :

Translated : I can do this because I only take care of myself and I can do it because I can.
Now nothing wrong with any of this, but its extremely judgemental and narcissistic.
Some call it White Privilege and others call it just making sure to not do anything that could cost you more out of pocket expenses. But not a typical life style for most Americans and so it really has no relevance when talking to normal every day people.

 

[J Grant]

Let's see I am single and have a dog and no kids. I am a vegan- I buy organic even though its much higher in price because I can afford to do it for one person. I don't shop at Wal Mart because I can afford to purchase nice clothes and nice things. I think I dont by Chinese made products but my I Phone and my computers and mt TVs are all made i foreign Nations. :

Translated : I can do this because I only take care of myself and I can do it because I can.
Now nothing wrong with any of this, but its extremely judgemental and narcissistic.
Some call it White Privilege and others call it just making sure to not do anything that could cost you more out of pocket expenses. But not a typical life style for most Americans and so it really has no relevance when talking to normal every day people.

plenty of families do it too!

Some of our economic choices are dictated by the budget of course including mine, others by what is important to us.

BTW the way some families waste money may be different than my choices but I see a lot of them with modest incomes having way more stuff than I do, going to Disney for a 2k weekend etc

Regardless, appraisals are not a consumer good -and the AMC realm is not akin to free market - the poster's analogy was off I was just responding to it.

 

[TC]

That ship sailed starting in about 1995 and has never looked back. Now add in the GSEs and the demise of the traditional full appraisal and waivers ,and you are now a local corner store and Amazon and on line has has crushed you. Hey most of us had a good 20 to 40 year run and we were lucky to have lasted this long.

I had a great run until 2011.

 

[glenn walker]

plenty of families do it too!

Some of our economic choices are dictated by the budget of course including mine, others by what is important to us.

BTW the way some families waste money may be different than my choices but I see a lot of them with modest incomes having way more stuff than I do, going to Disney for a 2k weekend etc

Regardless, appraisals are not a consumer good -and the AMC realm is not akin to free market - the poster's analogy was off I was just responding to it.

I agree Appraisals in the past were not a consumer good, but they are now becoming a consumer good as the Public has been educated on what we really do and they are being told monthly by the news and media and govt that our prices and fees are too high for the product we deliver.

The loan production appraisal will be a consumer product down the road as it simply no longer provides value to anyone involved in the transaction. The change is we believed the lender was our client and that they wanted and needed our product but and falsely believed it was part of risk assessment but that part of the equation has changed too. I am lucky I always wanted and believed that the Person Paying for the appraisal should be the appraisers client not the lender. I also believed that like a Realtor we should have a fiduciary relationship with the person paying for our services. USPAP made that a mute issue but did nothing to make the lenders even part of having to also abide by USPAP . It was and is a one way Cluster-F for the appraisers.

 

[glenn walker]

I had a great run until 2011.

Yep 2012-2013 was the year Dodd Frank was initiated and that was the beginning of the end for many independent fee appraisers. The recent Covid-19 boom was the last hooray for a large portion of appraisers and its also opened the door to Govt Agencies and GSEs to begin the great Re-Set of how appraisals will be done in the future. I Feel for many who will need to make a livable income in the future but many simply want believe things are going back to what it was in the salad days.

 

[Fernando]

Yep 2012-2013 was the year Dodd Frank was initiated and that was the beginning of the end for many independent fee appraisers. The recent Covid-19 boom was the last hooray for a large portion of appraisers and its also opened the door to Govt Agencies and GSEs to begin the great Re-Set of how appraisals will be done in the future. I Feel for many who will need to make a livable income in the future but many simply want believe things are going back to what it was in the salad days.

Never say never. These refi boom seems to occur every ten years. These money making opportunities open up for a year or two and then it goes away.