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Another Appraiser calls it quits

Alsie35

Senior Member
Joined
Sep 14, 2020
Professional Status
Certified Residential Appraiser
State
Texas
I have not read this whole thread (I am on vacation after all), but at first glance my impressions are:

a. The OP decided it was time to retire because he has (probably) saved enough and is getting too old and wants to do other things;

and

b. He decided to use that opportunity to complain about current goings on in the profession.

At no point was I persuaded that his choice to retire was caused by those goings on, however.

Alebrewer has already made a lot of other posts that seem to me to be spot on here, so I'll give him a shout out.
 

Mejappz

Senior Member
Joined
Dec 16, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Ugh? I have not decided to retire. I wish I could, though.:rof:
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
There was another article published about an example in Ohio just a couple days ago. Same thing. Two appraisals for a home purchase, the first one coming in $40k lower than the contract price (and ratified with a field review by the lender) and the second one coming in $100k higher after the sellers white-staged the property. The sale did close at $507k (you can see it in Zillow) so that means the second appraisal came in $60k higher than the contract price. Which BTW, is far higher than any of the recent/proximate sales prior to that point would otherwise seem to indicate.
 
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djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
the banks getting bailed out

that is right the big banksters who pillaged, stole, lied and gave undocumented loans now cry about the appraisal cost and due dates and direct the borrower to file complaints for their number hitting purposes.. it is fricken comical
 

IVCA

Senior Member
Joined
Jun 27, 2017
Professional Status
Certified General Appraiser
State
California
There's been a big drop in active appraisers in California. I just looked - and couldn't believe it. So many years there were over 3,000 Certified Generals, now only 1784. Covid? And now we are down to 3,696 Certified Residential and 846 Licensed. The total is only 6,825, and it used to be well over 15K (or was it 18k?).

I expect more of the same. When you hit retirement, you start thinking about reducing your bills - and if you want to really not do so much work, then the risk of the economy going south and leaving you with unpaid expenses, is not for a good nights sleep. Just cut all costs and consider whether you can get by. I suppose many can, even if they have to move to Mexico.

And if AMCs hate appraisers, I don't think life is going to get any better for them. Appraisers will gravitate towards the AMCs that give them the least trouble and pay the highest fees, - as long as they have a choice.
 

IVCA

Senior Member
Joined
Jun 27, 2017
Professional Status
Certified General Appraiser
State
California
There was another article published about an example in Ohio just a couple days ago. Same thing. Two appraisals for a home purchase, the first one coming in $40k lower than the contract price (and ratified with a field review by the lender) and the second one coming in $100k higher after the sellers white-staged the property. The sale did close at $507k (you can see it in Zillow) so that means the second appraisal came in $60k higher than the contract price. Which BTW, is far higher than any of the recent/proximate sales prior to that point would otherwise seem to indicate.
Is this post in the right thread?
 

alebrewer

Senior Member
Gold Supporting Member
Joined
Mar 11, 2008
Professional Status
Certified Residential Appraiser
State
Texas
And if AMCs hate appraisers, I don't think life is going to get any better for them.
Why would you think AMC's hate appraisers? Most AMC's are run by appraisers. I would agree that AMC's quite often take appraisers for granted, that some abuse appraisers (by not paying decent fees), and that some fail to recognize that appraisers are their most valuable asset, but hate? That's not been my experience, but everyone's reality is their own.
 

IVCA

Senior Member
Joined
Jun 27, 2017
Professional Status
Certified General Appraiser
State
California
Why would you think AMC's hate appraisers? Most AMC's are run by appraisers. I would agree that AMC's quite often take appraisers for granted, that some abuse appraisers (by not paying decent fees), and that some fail to recognize that appraisers are their most valuable asset, but hate? That's not been my experience, but everyone's reality is their own.

I don't know what else to think sometimes. I have just been through this AMC sending me the same dumb request for the past two weeks on a 1025: "Will you please upload a revised XML that is less than 25 Mb?" The XML validates with Alamode's XML validator for GSE's and it is 19Mb and Alamode says they can't do anything without more detailed information - in fact they doubt there is really anything I can do to make the file smaller. So, I keep replying to the AMC the XML is already 19Mb and asking if they can give me more detail. As absolutely difficult as it is to get hold of any one really knowledgeable there, I get hold of the gal who asks me to email the XML file to her which she says she gets and has no problems uploading into their software (????). Then two days later I get the same request and then 3 hours later a reminder that I haven't uploaded the revised XML. And reminders after reminders. --- And this has been going on since September 02 - and I'm wondering about the borrower. Don't they care?

Of course it could be they do care, but don't have competent people, or they are overwhelmed with work, or it is quite possibly something else I haven't thought of.

So, yes I did get hold of the Chief Appraiser there today who said he knew what was wrong and that he thought they could go ahead and send it to the client, that it was a glitch in their software (no details). Not to worry about it, everything would be OK. - And that he "Wanted to thank me for all the work I have done."

I have a list of companies that keep sending me bid requests that I never respond to. My blacklist so to say. Call it what you want, - my brief encounters with them were that they are pretty dense, dogmatic and lacked intelligence and respect. I had this one AMC owner who bragged about having just chewed out some appraiser who then chewed him out and was giving me all this BS about the first UAD report I did that had a couple of minor errors. I think I get a couple of bid requests from them every day. But instinct tells me, it's not the kind of company I want to deal with.

Then there is the client who insists on an ENV file. Oh God! Never one of those again. All ENV clients are automatically blacklisted!!!

So, this is what I think: A lot of the AMCs and lenders insist on XML, ENV reports and the like because they can load them into their most likely defective software written by some programmer many years ago to save them from retyping information. They are lazy. Or call it efficiency. Or thrift. Or lack of resources. Or more likely the money is better off paying for some vacation to Bermuda.

- If their software has bugs, which most likely it does, and on the other hand most appraisers send them reports that don't cause problems, but my large report does for some unexplained reason, then they just decide the solution is to stop asking me to do reports and go to another appraiser. That's most likely what is going on. But maybe they could just be honest and say: "For some reason your reports don't work with our software, because our software is not able to handle all properly validated XML reports. We don't know why. But we don't have the resources to find out why. So we simply have decided not to deal with you anymore. " So, at least, I don't waste my time. -- And no, I'm not the kind of appraiser who will sacrifice quality to get business.

So, to get back to the issue: Do AMCs hate appraisers? Yes, some I believe clearly do for all practical purposes. Some are very dense and thick-skinned, not caring to act responsibly and do their part to rectify any problems with their software, procedures and employees.

And you could probably say that about the whole industry -- except in my opinion Appraisers (real appraisers, not the onces working in AMCs), more than anyone else, really do seem to care.


SideNote: Any forms outside of the main forms that appraisers use, will be a source of problems, such as the 1025. Much of Alamodes tools don't work very well with the 1025. Spark doesn't work with it. And that is generally the case. So, they will invariable take more time. Avoid them or charge more.

And things will get worse. AMCs are really not that effective, they are dysfunctional, and I expect most of them to disappear, to be replaced by appraisal shops that work directly with lenders and basically run everything from A-Z. They will start to bloom at some point in time. Yes, some AMCs may turn into such shops - but they don't have the right people and that is a big issue.

Some promising AMCs do exist .... But so much of this depends on some other issues, I won't get into.
 
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alebrewer

Senior Member
Gold Supporting Member
Joined
Mar 11, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Again - not aware of any AMC's that 'hate' appraisers. Certainly ones that abuse appraisers. It's been my experience that the 'hatred' tends to flow from appraiser to AMC, and not the other way around. :giggle: Not that the hatred isn't deserved oftentimes.
 
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