Anyone complete a UAD 3.6 report ..... yet

[J Grant]

It is not just interest rates. Taxes and homeowner insurance has almost doubled in the last 4 years.

It's sad to see the American dream of homeownership sliding out of reach for working folks and the younger generation. I see far more investor sales with appraisals of res property asking for a rent survey, perhaps a quarter or more of each purchase transaction is to an investor. And those are the sales that apply for mortgages ! Add in cash sales to investors and it is probably close to 30-40% of sales in many areas. Could be even more in some. Airbnb, rent to desperate working folk tripling up to have a roof overhead.

 

[glenn walker]

The solution is round robin ordering at full fee and let identified low competence appraisers take a course of mandatory education and give them a probation period to improve.

Let the mortgage lender have GSE-backed leeway to go up or down by 3-5 % on a supported market value opinion, if they feel confident in the borrower's credit - that gives stakeholders some relief while keeping values within reason for the health of marketrs while at the same time fostering appraiser integrity.

Now define full fee ? You mean a fixed fee set by some agency. That's not going to happen and so better move on with a better idea that ship left port years ago.

 

[J Grant]

Now define full fee ? You mean a fixed fee set by some agency. That's not going to happen and so better move on with a better idea that ship left port years ago.

The C and R fees we appraisers get who work for lenders who do not use an AMC, thus we receive the fee the borrower paid /C and R for area without an AMC split taken.
It is not a fixed fee set by some agency.

.
Though C and R for appraisers VA as one of the metrics for a Cand R fee.

 

[djd09]

start basing the fee on value...and watch their undies bunch

 

[ZZGAMAZZ]

start basing the fee on value...and watch their undies bunch

A court appointed "Referee" in Cali can charge an appraisal fee based on his or her OV.

 

[Dublin ohio]

A court appointed "Referee" in Cali can charge an appraisal fee based on his or her OV.

So the fee is determined after the appraisal is completed?

 

[djd09]

who are they to tell us how to charge for an appraisal...

 

[ZZGAMAZZ]

So the fee is determined after the appraisal is completed?

??????

 

[djd09]

billable hours is ok too...125 per hour minimum 6 hours

 

[J Grant]

The software bro tech offerings promising time savings - they should be forced to do a few appraisals. Even a lower price property presents an unknown problem lately - the one I am working on now is a remodeled flip ( coming in below SP ), the data part typing was easy -the inspection was easy - I don't need their app. Because the time suck is the hours spent pouring over MLS listings for interior upgrades and condition, and to verify the myriad discrepancies between listing exaggerations, public record, SF, etc.