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A Techy Newbie From California

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Yellow Fin

Junior Member
Gold Supporting Member
Joined
Feb 27, 2003
Professional Status
Certified Residential Appraiser
State
California
Hi, All

Just got into this field. Got my AT license and found a nice menthor. All my experience of appraisal is 'I thoroughly read each articles from AF everyday' for a long time, 8 - 9 months. (Thank you everybody, it really helped me to understand the real world) Plus, a couple of reports using alamode demo software.

I have a newbie's question.
How much time do you spent per report? Does it make difference if you use the different software? ex) ACI, United Systems, Alamode.......
If you pull out the tax information from realquest or ndc data, does it save a lot of time?

<Daniel>

yo-yo-.gif
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
How much time you spend just writing a report will be directly related to how automated you can make the process, how much detail you put into your diagrams, how much writing you do in your analyses, and even how fast you can type. However, the biggest variable is going to be how complicated your assignments are. It takes a lot less time and effort to knock out an appraisal report on a simple tract home than if the assignment is more complex.

One thing to remember, and that is that putting a little more detail in your reports may take a little extra time on the front end, but you can often avoid ever having to revisit the report after it's been submitted to answer an underwriter's questions. It's a case of it being faster in the long run to do it right than to do it fast. I'm sure there are those who would disagree, though.
 

Walter Kirk

Senior Member
Joined
Jun 24, 2003
Professional Status
Licensed Appraiser
State
New Jersey
Daniel,
The software that you use is just a tool, like your camera or tape measure. The amount of time an appraisal takes is equal to the time it takes you to inspect the property, gather your data and THINK about what you are doing. After you have formed your conclusions it takes about 15 minutes to prepare the form on your computer.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
We have covered this before, check archives.

I have been appraising for 24 years and I still find it takes about four (4) per appraisal from start to finish.

1 hour logging in, looking up public records, pulling MLS, doing CMA, finding comps, building the file, and scheduling the appointment.

1.5 to 2.0 hours for the inspection including driving to and from the property and driving the comps.

1.0 hours doing the appraisal and preparing the report. This includes printing it out, sending it out edi in .pdf format, billing, and filing.

The speed is directly proportional to your computer & printer (hardware), your appraisal program (software), as well as your internet service provider (ISP).

It used to take me 10 to 12 minutes just to print all the pages (usually 20 with 6 color pages). My printers now do it in 4 minutes (dual printer setup). Sending reports over phone line was awful...up to 20 minutes. Now with Alamode software and a cable modem I can send a 20 page report in less than 20 seconds.

My computer is a pentium IV with a 2.1 gigahertz operating system. It is 10 times faster than my last computer. Faster is mo better! My equipment is about as fast as I can handle...now I am the slow down.
 

Yellow Fin

Junior Member
Gold Supporting Member
Joined
Feb 27, 2003
Professional Status
Certified Residential Appraiser
State
California
Thank you everybody.

I really appreciate your help and giving me an advice. Yes, I will focus on the quality of the work instead of being a cookie cutter. This's been my moto to survive myself and the company in the silicon valley industry. It applies to everywhere I guess. ^oo^

I've just got an access code for realquest.com. Next week, I will purchse a Disto and IBM T30. Some of you will see me using wifi outside of Starbucks in Bay Area.

I work full time in day time, but my hours are flexible. I will work part time as a TA for the first one or two years. Then, I will be a junior expert appraiser. My avatar will have two little wings on the both sides.

Have a nice day~

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