3.6 The promises, the predictions, the panic and the fight for the dwindling appraiser dollars

[Carnivore]

Zoe said Fannie may find out they don't have enough competent 3.6 appraisers.

Yes the AMC's and the lendrers will feel it. I think many res appraisers will leave the business aka baby boomers and Younger appraisers may leave for jobs that gives them a steady paycheck

Even though the economy seems to suck on the national scale , there is migration of of big and small business and people population moving to more tax business friendly states like Florida New york city is bleeding capital and people

Imagine how the AMC checker Dudes will deal with 3.6 be like mass confusion

No doubt there is a learning curve to 3,6

 

[Sandra Koutsopoulos]

Zoe said Fannie may find out they don't have enough competent 3.6 appraisers.

Yes the AMC's and the lendrers will feel it. I think many res appraisers will leave the business aka baby boomers and Younger appraisers may leave for jobs that gives them a steady paycheck

Even though the economy seems to suck on the national scale , there is migration of of big and small business and people population moving to more tax business friendly states like Florida New york city is bleeding capital and people

Imagine how the AMC checker Dudes will deal with 3.6 be like mass confusion

No doubt there is a learning curve to 3,6

Jeepers, Nov-Feb might be the best time to take an extended fall/winter vacation and let the players come to some rational functional way to more-or-less meet their goals in a way that doesn't blow up the buying-lending-funding pipeline. Realtors have absolutely no clue that funding the loans on their sales might soon get very slow.

 

[J Grant]

I experimented with UAD 3.6 for the first time (I have alamode ) and surpsisingly, found it okay to work with ! Will try it out again over the weekend.

 

[HVNY]

Got about 5 questionnaires about UAD 3.6 readiness this week. Seems like the lenders are ramping up.

 

[George Hatch]

I experimented with UAD 3.6 for the first time (I have alamode ) and surpsisingly, found it okay to work with ! Will try it out again over the weekend.

That's encouraging. Or at least, it's less depressing

 

[djd09]

so it doesn't take longer like adam said....

 

[Carnivore]

little Different angle on 3.6

In the USA we have an energy deficit . we also have power outages Since 3.6 is cloud based would appraisers have limited or no access to 3.6 sometimes.

Very possible. murphy's law

I lose my internet once in a while I just turn my phone into a hotspot. Sometime I lose my power . my laptop has a battery and I have a car battery to charge my cell phone
b
I have been in the habit completing a s much of the work file i can before I ever go inspect'

The fact that has already come up is the lack of non-lender

Good to see jgrant was the first lab rat . and her comment

 

[FMV]

You are conflating issues. There is nothing in the UAD spec related to software automatically suggesting ratings and/or adjustments.

Does some of the software offer such capabilities? Sure. That kind of stuff has been around a very long time, and it is growing now with the expansion of AI use. As with any tool, there is nothing compelling or requiring its use and/or the acceptance of the output. If you do not think an analysis is credible, then you certainly should not sign your name to a report that uses the analysis.

There is an adjustment tool that has been out for a couple of years now that some appraisers use. I would never use it because when I looked into it I found that the method it was using was in direct conflict with fundamental appraisal principles. Some choose to ignore that and use its output. That is on them. They are choosing to use it without understanding its flaws; they are not required or compelled to use it (or any other such tool).

BLAH-BLAH-BLAH-BLAH!!! THIS RESPONSE IS RIGHT ON TARGET!! WE AGREE WITH CA AR INDEPENDENT.. THIS IS A COMPLETE SH!#T SHOW!! HOPEFULLY THIS NEW CRAP WILL BE STALLED!!!

 

[Dublin ohio]

I experimented with UAD 3.6 for the first time (I have alamode ) and surpsisingly, found it okay to work with ! Will try it out again over the weekend.

It's one thing to page through the software. It's another thing to actually fill it in with your inspection data which you said you will be getting from a paper inspection list. I've played with Aivre, looks easy enough, but I have yet to try and fill it in from an actual inspection list to see how much time it will take and what level of frustration it creates

 

[FMV]

Many of us are trying to wade through the quagmire of information regarding the next disruptor in our work lives. I ignored the whole 3.6 thing for a while, then decided to deep dive to clarify things for myself by trying several of the different software platforms claiming to be "ready" (or close to ). I also tried to write a sample report of my house using Automax.AI . I have watched numerous webinars with my peers, tech folk and sales people trying to paint this as the "next great thing" as they try and force feed this crap to us. What an opportunity. I have always tried to weather the various spike strips thrown in our paths (new forms, scope creep, Dodd-Frank, the AMC world) with the intent of continuing in the profession I love.

My takeaways:

Software providers have had to invest enormous amounts of time and $ to create complaint software and are now competing for OUR bucks to make that up. This competition involves the promises of what their software can do for us and have a wide array of designs. I tried SFREP, Total, Automax.AI and found none to be smooth or intuitive in creating a credible report. Bradford was not far enough along to be tested. Automax.AI was unstable with it freezing and crashing, perhaps due to my system capability and the large data processing. It did better on my Ipad than my (older) desktop.

The learning curve/hell will fall on the appraiser (as always) as the software glitches, crashes and includes the slop of good and bad data. Reports will not be credible since nobody will be able to untangle the "behind the scenes" operations of the software. This was the most apparent in the Automax.AI report, which input huge amounts of incorrect data and assigned random and bizarre ratings and adjustments. It rated my home as Q3.2, a "comp" as 3.8 and adjusted 56,000 in the wrong direction.

Some thinking fees will go up may find that they really won't result in more profit for us, since software companies will be making up for their investments and more time plus new portal fees are likely.

Adapt or die. This sh*t show is coming fast, and we each have to find a way through for our own business model. Many will find that the way through is to retire. Valid.

We have every reason to be angry about this, particularly those of us that are older and feel our expertise is being de-valued (again) and we are forced to enter the race to the bottom (again).

From what I can see at this point, the new product will be inferior, less credible and nobody involved in the development seems to care except the appraiser, who will once again be required to put our names (and licenses) on a product that we do not believe in and take responsibility for its's flaws.

Feel free to rant

HIT THE NAIL ON THE HEAD.. A COMPLETE Sh#!T SHOW!!! THIS NEW UAD CRAP IS "CRAP".. PLAIN AND SIMPLE.. BEEN TYPING A REPORT ON OUR NEW HOME FOR A MONTH NOW AS PRACTICE-TOTAL JOKE!! ALL I CAN DO IS SMH...