Advice on entering the Real Estate Appraisal Field.

[gorillakimchi]

Don't be too sad gorilla.... we have another run or two. The DNC is not going to go into an election year and not lower the rates as, they want to be reelected and retain the highest office in the land. They'll also have to do some kind of jockeying about the border.

The thing appraisers got going for them is that people do stuff to their properties that you just have to see to believe. And the lenders know this so, they want to see too. Problem there is that they're using PDC's and not us.

That being said, this is for the established appraisers who are already in it. Just coming into the profession.... that's some unstable ground right the

Do not take our words......below is from the GSE:



https://www.fanniemae.com/sites/g/files/koqyhd191/files/2022-04/mod-valuation-spectrum.png

https://singlefamily.fanniemae.com/media/33581/display

https://singlefamily.fanniemae.com/...elivery_job_aids__appraisal_modernization.htm


https://www.fanniemae.com/research-...journey-efficient-fair-home-valuation-process

Mortgage demand drops to the lowest level since 1996, as interest rates head toward 8%

Mortgage rates just continue to climb higher, taking a particularly big leap last week.

www.cnbc.com

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Oh, lots of articles to read. Hope it's good for our future

 

[djd09]

Oh, lots of articles to read. Hope it's good for our future

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[djd09]

Hi, I'm Eric, a 52-year-old entrepreneur and long-time small business owner. I am interested in becoming a certified real estate appraiser, and I would appreciate some advice from the forum on the best pathway forward. I'm seeking recommendations on the best schools, how to obtain my 1500 hours of work under another appraiser's mentorship, and what my expected salary might look like. Additionally, I'm curious about the long-term occupational outlook for real estate appraisers. Thanks in advance, Eric in Georgia

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[CGinMN]

As for plumbing.......watch this. They are buying up local trades as well. These MF needs to be stopped. Institutional investors......buying AMCs and local tradesmen. Everything is becoming corporate!!!

You will own nothing and you will be happy. Just like Lennon Lenin said.

 

[Boater Bob]

For my 31 years, RE Appraising has always had up's and downs just like most professions and I have embraced all of it. My advise is don't listen too much to what others are saying. Do your own thing and you will be a success. There is always opportunity. Keep getting educated. Run your business, don't let your business run you. Good Luck!

 

[Funky Obsolescence]

I've mentioned this in another thread but I was a commercial appraiser in the private sector for 15 years. Made a switch and have been a commercial appraiser for the government with an assessing department. WAY better. Would never go back. Steady pay. Benefits. They pay for your assessing education.

 

[Artemis Fowl]

Independent fee appraisal is not the only path available. Others have described the pros/cons of that already. I was fee also for almost 10 frustrating years...don't miss it at all. Coached the daughter of a partner in a contract assessing company...one thing led to another. Doing stuff now I never would have had the opportunity to do otherwise. Lucked out as they are both great people and great mentors.

 

[Charles West]

There was an article in the WSJ yesterday that is almost a primer on flipping trashy properties and for my life I cannot upload it for some reason known only to the Forum's failing server. I will keep trying.

 

[Raven59]

es. 90% of my current work are complex orders

That's a compliment and says something about your skills. Being the go-to person can parlay you into other things.

 

[azbassman21]

It's about 12% and has been around that number for some time;

Prevalence of GSE Appraisal Waivers

The use of appraisal waivers at the GSEs has exploded in recent months and now accounts for over 40% of all valuations.

www.aei.org

Latest data is from December 2023 and there's a whole history of data there since 2020. You can subscribe to get updates when they are published, it's a good site although a bit tough to navigate. They have a pretty decent research arm and publish a variety of stats on housing. The lead there on the url is a bit misleading, I believe that's from one of the first reports during pandemic which was the height of waiver usage.

BS it's 12%. Just like job numbers, economic numbers, and polling numbers, the govt will tell you what they want you to hear. More than 12% of the files I was receiving in 2020-2022 were being cancelled because they got waivers.