Has Anyone Completed A 3.6 Yet

[Sandra Koutsopoulos]

...and THAT is why this 'profession' s#cks. I feel frequently like a begger with my hand out, trying to get someone to give me a crust of bread. Infuriating, demeaning, depressing. I know very well that I provide value to any entity who actually wants to know the quality, caliber and value of the property I'm appraising. AI takes you part way there, but appraisers contribute much more to the knowledge/understanding of the collateral in it's location and in the specific marketplace.

 

[ilsindaco2628]

...and THAT is why this 'profession' s#cks. I feel frequently like a begger with my hand out, trying to get someone to give me a crust of bread. Infuriating, demeaning, depressing. I know very well that I provide value to any entity who actually wants to know the quality, caliber and value of the property I'm appraising. AI takes you part way there, but appraisers contribute much more to the knowledge/understanding of the collateral in it's location and in the specific marketplace.

I agree completely. They want everything fast and cheap but have no problem sending a revision that says "comparable 4 is 850 feet from a park. please comment on external influence and marketability impact"

 

[Surf Cat]

I agree completely. They want everything fast and cheap but have no problem sending a revision that says "comparable 4 is 850 feet from a park. please comment on external influence and marketability impact"

Actually, that revision should have been addressed in the first place.

In regards to working for AMC's, all appraisers, Nationwide, all at once, need to stop accepting orders for a couple of weeks. Or, until a permanent, customary and reasonable fee schedule is worked out. It's that simple. All for one and one for all.

The AMCs do not exist without appraisers. Their shake and bake appraiser employees will not be able to handle the volume. The news media would love it.

 

[Essexfenwick]

Since we are pals, I'll offer you some advice. Your compensation should reflect your contribution, not your willingness to settle. Your fee is more than your paycheck—it's part of the benchmark that protects the value of everyone's work in this industry. Increase your fees to a respectable level and you'll have more food on your table.

Actually... Better advice is to make a living !!!

But you need to diversify your clients and get a couple decent paying direct lenders or at least identify them so when there is a boom you drop the AMC indentured servant master and do quick turnaround for the clients with character.

 

[chad hampton]

Its a manipulated market. Fees are set by a handful of company. By design. It's only the snake oil folks that claim that the appraisers set the fee. Myself and others warned about this a decade ago. State boards choose to believe lying *******s instead. So you get what we got.

I don't care if anyone does an appraisal for $50. Do what you have to do at this point. And you can laugh at that fee if you want, but when a guy I know ran one of these scumbag appraisal mills, that's about what they paid their appraisers per order. AMC fees were sending $180-200 orders and they paid 40% to the appraiser. You can do the math. That's the business you're in. Actually, a former AI president and former revaa spokesman was the chief appraiser at that firm at the time. He would constantly tell my friend to accept every low paying job he was sent and it was his job to find a stooge to do it. They would argue back and forth about what a ****ty business model that was. Think about that for a minute - a guy who was president of the largest appraisal advocacy organization (allegedly) in the country was in full support of paying appraisers $80 per order. These people have no morals, no ethics, and no standards.

The enemies of the profession are all around out. They hide in plain sight. And they laugh at you. They know they have nothing to worry about. No oversight, no regulation, no nothing.

 

[TerryRohrer]

Actually, that revision should have been addressed in the first place.

So you comb through every aspect of every property within, what, a mile? two miles? three miles? of your subject and opine regarding their impact on your subject? Do you do any analysis, or just make a comment? In your analysis of the impact of parks on residential values, what have you found regarding the distance to which that influence extends? Is the impact linear with distance, or does it follow some curvilinear form? Does the size of the park matter? Does the typical usage of the park matter? Where do you find data regarding the different usage patterns of parks, and the volumes of usage? Same question for schools? Show us just one example where you have done that analysis and your conclusions.

 

[Lil Rhody]

Actually... Better advice is to make a living !!!

But you need to diversify your clients and get a couple decent paying direct lenders or at least identify them so when there is a boom you drop the AMC indentured servant master and do quick turnaround for the clients with character.

If your business model is to take less than your peers to gain more assignments, that is your professional decision to make. But we can't complain about lowballing fees on one thread and then support it on another.

$550 is our typical fee for a 1004. Taking a $575 fee to develop a UAD 3.6, which takes about 2 hours longer than a 1004 to develop, is lowballing. And whichever client that poster is completing this assignment for will now have a benchmark for a customary and reasonable fee for this new product.

 

[Essexfenwick]

If your business model is to take less than your peers to gain more assignments, that is your professional decision to make. But we can't complain about lowballing fees on one thread and then support it on another.

$550 is our typical fee for a 1004. Taking a $575 fee to develop a UAD 3.6, which takes about 2 hours longer than a 1004 to develop, is lowballing. And whichever client that poster is completing this assignment for will now have a benchmark for a customary and reasonable fee for this new product.

I hear you but $250 fee is a lot of money to some people... Especially young people. The residential appraisal job has a low barrier of entry and there are more appraisers than assignments for the last 4 years. Sure ... If you're an SRA and do legal, private, direct and/or complex jobs you can dictate your pay better. Most people in the field are not protected from the over supply of competition, low volume of lending and increasing waivers.

 

[Surf Cat]

So you comb through every aspect of every property within, what, a mile? two miles?

If there are no competitive sales within the subjects immediate Market area, and I utilize a sale one, two miles out as you say, then yes.... I analyze the median sales prices of that neighborhood in comparison to the subject's.

Do you do any analysis, or just make a comment? In your analysis of the impact of parks on residential values, what have you found regarding the distance to which that influence extends?

Yes to all. Actually, you can see the influence of the distance in the gross sales prices without even throwing them in a spreadsheet.

Does the size of the park matter? Does the typical usage of the park matter?

1. It depends..... 2. Yes. If it is a park with a playground and a parking lot with a bunch of curtain crawlers screaming and yelling or a park with no parking with trees, and a serene environment.... the market typically differentiates between those two which is reflected in the sales price.

Where do you find data regarding the different usage patterns of parks, and the volumes of usage? Same question for schools?

The MLS..... then public records for confirmation. Very much like most appraisers do.

Show us just one example where you have done that analysis and your conclusions.

Why? Because I stated to the posting appraiser that they should comment on comparable's external influences? It's not the AMC that wants to know.... it's the lender. If that happened to him, he took a shortcut and got caught.

Don't you comment / analyze comparables that are next to railroad tracks, underneath high tension power lines, next to parks in comparison to the subject? Especially if the subject is not near these externalities? Those questions are rhetorical by the way.... I already know you do based on your posts in many threads here on the forum. I already know you're a good appraiser Mr. Roher.

 

[djd09]

Its a manipulated market. Fees are set by a handful of company. By design. It's only the snake oil folks that claim that the appraisers set the fee. Myself and others warned about this a decade ago. State boards choose to believe lying *******s instead. So you get what we got.

I don't care if anyone does an appraisal for $50. Do what you have to do at this point. And you can laugh at that fee if you want, but when a guy I know ran one of these scumbag appraisal mills, that's about what they paid their appraisers per order. AMC fees were sending $180-200 orders and they paid 40% to the appraiser. You can do the math. That's the business you're in. Actually, a former AI president and former revaa spokesman was the chief appraiser at that firm at the time. He would constantly tell my friend to accept every low paying job he was sent and it was his job to find a stooge to do it. They would argue back and forth about what a ****ty business model that was. Think about that for a minute - a guy who was president of the largest appraisal advocacy organization (allegedly) in the country was in full support of paying appraisers $80 per order. These people have no morals, no ethics, and no standards.

The enemies of the profession are all around out. They hide in plain sight. And they laugh at you. They know they have nothing to worry about. No oversight, no regulation, no nothing.

oh yes....its rigged