The Uniform Abomination Dataset Doomsday Clock

[glenn walker]

If one's retiring or not doing the 3.6 they have no skin in the game and it's not really fair to the younger guys who may not have a choice in the matter because they aren't retiring and they need or want the income.

A better solution for the older retirees or ones that won't do the 3.6 is to find the positives about the new forms and highlight those new things. One overall positive is it's culling the herd of many who just cherry picked the easy good paying assignments making others do the ****y work and another is updating their computers and getting better laptops and tablets to use in the field and the newer more advanced measuring software.

Finally the greater the number of older guys that leave the more income and business is left for the working appraisers that will adapt to the changes and will do just fine.

 

[Alsie35]

If one's retiring or not doing the 3.6 they have no skin in the game and it's not really fair to the younger guys who may not have a choice in the matter because they aren't retiring and they need or want the income.

A better solution for the older retirees or ones that won't do the 3.6 is to find the positives about the new forms and highlight those new things. One overall positive is it's culling the herd of many who just cherry picked the easy good paying assignments making others do the ****y work and another is updating their computers and getting better laptops and tablets to use in the field and the newer more advanced measuring software.

Finally the greater the number of older guys that leave the more income and business is left for the working appraisers that will adapt to the changes and will do just fine.

Nominated for "Tone Deaf Post of The Day" (You know I love you Glenn, buuut... )

 

[TC]

Congrats, Bucks. First. Skippy, now The Abomination.

 

[Fernando]

Youngings don't know how this Abomination form is setting them back in profitable (if fees don't go up to compensate for the significant more time needed to complete).
Seasoned appraisers have experienced the profitable times with the less demanding 1004 forms in the past and know better.
AMCs and Lenders are counting on appraisers to readily accept this monstrosity of a form just like they have been accepting low appraisal fees past several years.

 

[gregb]

Not worried about transitioning to the 3.6 UAD. Lots of angst and fear spreading when there is nothing appraisers can do, except seek a diverse client base and/or upgrade to CG. None of my clients have asked for ansi, or if they have, i am ignoring it without stips. Trying to figure out a quote on 11 properties in Santa Maria, 7 are SFR's and 4 are SFR's with ADU's, client wanting 1007 and 216 forms. Not going to discount fee quote because one investor owns 11 properties.

 

[Fernando]

I'm not worry transitioning to the Abomination form.
Fernando has gone through many obstacles during schooling and the ups and downs of real estate cycle.
What is main concern is the fee. It has to go up or why should I work for "free".
Fernando has better things to do.

 

[Bobby Bucks]

Congrats, Bucks. First. Skippy, now The Abomination.

View attachment 105872

Credit should be given to Alsie35 since he invented the term, plus it’s accurate and credible in USPAP speak.

 

[Zoe]

As usual, many appraisers are whining and complaining because they are being asked to do something different than what they've been doing. We still see appraisers that haven't taken the time to learn and understand using ANSI Z765-2021.

If you don't want to do 3.6 type reports, you don't have to.... you just won't be doing appraisals to be used in Fannie/Freddie loans.

Are you calling me an employee now? Where is my independence?

 

[Zoe]

REVAA!

Song: “REVAA Went Down to Georgia”

Listen and make your own on Suno.

suno.com

Don't talk about my girlfriend (partner).

 

[Zoe]

If one's retiring or not doing the 3.6 they have no skin in the game and it's not really fair to the younger guys who may not have a choice in the matter because they aren't retiring and they need or want the income.

A better solution for the older retirees or ones that won't do the 3.6 is to find the positives about the new forms and highlight those new things. One overall positive is it's culling the herd of many who just cherry picked the easy good paying assignments making others do the ****y work and another is updating their computers and getting better laptops and tablets to use in the field and the newer more advanced measuring software.

Finally the greater the number of older guys that leave the more income and business is left for the working appraisers that will adapt to the changes and will do just fine.

One caveat you left out. maybe more. But if lenders buck the system or Feds take over the gses it could have an impact. I won't swear with AI that there will not be a few large banks that make all the real property loans and keep the loans in house. In that case, there will not be a need for a gse.

That would include commercial and residential in that scenario.

The local appraiser will still be needed with competency. Real property market is so dynamic. Unlike any other market in the USA. Location, location, location. It changes everyday by location and many other factors. Very dynamic market. Most dynamic market possibly.

AI can't handle that market for a long time. Too many dynamics. Very complex without real estate appraiser with competency in the market.

Too many potential lawsuits from parties involved in the market.

The gses have already been called on the carpet for discrimination.

Every citizen is a participant in the market in one form or another.

Gses probably doing 3.6 in response to being called on discrimination charges.

All the big parties were called on discrimination charges except VA. Keep that in mind.

Keep in mind VA needed no bailout in back of mind.

How much bailout did 3.6 originators need? Don't ask.