24 Hour Appraisals

[cashcatz]

When I do the sketch on paper, sometimes I can't read what I wrote. I write too fast on site.

If implemented well, the new LiDar + AI dictation inspection app. I think will help with this. You will basically walk around and film everything while dictating what you see. The AI will make sense of what you are saying, ignore the other people in the room - and also label the images automatically while the LiDar measures the interior. I think it could be pretty useful - but we'll see.

 

[ZZGAMAZZ]

What's spark adjustments.? I do my own adjustments. Don't need computer to do adjustments for me. I tweak it so well, my reports look darn good.

Spark is a great intermediary used to populate reports using info that he appraiser selects; however, an ancillary product named Total or something acts on behalf of the appraiser to identify the neighborhood, determine competing properties, selcect comps...and provide quantitative depictions of the results--possibly to further diminish the role of the appraiser. That upsets purists.

 

[Non Sequitur]

Whether it’s 24hr or 10-20 minute appraisals delivered from the field, at the end of the day we are at a point where the strong will do what they want and the weak do what they can.

AMCs/REVAA have locked up market share, they can meet with GSE chief appraisers whenever they want, they can meet with state boards whenever they want, they can meet with executive committees of the largest appraisal organizations whenever they want, they can bounce CEO's who speak out against them, and thanks to TAF they are at the beginning of training noobs (at will) who will salute their flag every day. When you have the market effectively locked up, you can do what you want.

Independent appraisers are trying to hang on by taking on second and even third jobs, running up debt, and even trying to ring the bell on social media, doing anything to try to hold on to the memories of a once decent way to make a living. I want to believe that we have a chance, problem is we haven't had a win for 20 years. So we do what we can and that’s to complain and point out the mess AMCs have made of the industry or move on to the next chapter.

 

[alebrewer]

we are at a point where the strong will do what they want and the weak do what they can.

We've been in that position for as long as I can remember - going back to the days prior to FIRREA...

 

[Joe Flacco]

It's still a decent way to make a living.

 

[ZZGAMAZZ]

If implemented well, the new LiDar + AI dictation inspection app. I think will help with this. You will basically walk around and film everything while dictating what you see. The AI will make sense of what you are saying, ignore the other people in the room - and also label the images automatically while the LiDar measures the interior. I think it could be pretty useful - but we'll see.

Regarding "other people in the room" . . . a Wells Fargo phone rep grilled me recently

It's still a decent way to make a living.

It would be a "perfect" way to make a decent living...but things just DONT EVER work out like they should. Even allowing for variance because of the inherent nuances of the profession, and no matter how well one tries to manage he workload, something seems to ALWAYS to deviate from the ideal. But sure as heck beats arising at 5am to drive 90 min in traffic to arrive on time for a normal job!!!!!!!

 

[Non Sequitur]

It's still a decent way to make a living.

Then why are appraiser numbers in sharp decline?

The only indi resi mortgage appraisers I know who are still chugging along are lucky enough to be on one or more builder panels in markets that are still humming along. Not everyone is that lucky.

 

[alebrewer]

I guess you have to define 'decent way to make a living'. That means different things to different folks. Had dinner w/an appraiser buddy last evening. Their office did 67 appraisals last month. Down from ~ 200/month in the heyday (husband and wife are appraisers and daughter and grandson work for them - both certified as well). So - is 67 enough to feed the families? Well, that's ~ 67 x $450 = $30k / 4 = $7,500 per person. In North Texas, that's still a pretty solid living - nothing compared to 20/21, but then again - we'd had nothing like that prior to that period either.

 

[Joe Flacco]

They have an adult grandson. It's probably time for the grandparents to retire and pass the torch.

 

[alebrewer]

They have an adult grandson. It's probably time for the grandparents to retire and pass the torch.

You'd think. Everyone's situation is different than the next person's.