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Anyone Else See Business Drop Off To Almost Nothing?

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Kevin Little

Sophomore Member
Joined
May 25, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Only grossed 18k last year in this business.
I'm ready to go out and find a real job.
Also, what are you guys charging for single family 1004 form?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Yup, dropped to almost nothing since the inauguration. Coincidence, or loss of confidence ?
I grossed over 80k last year , so still believe in the business but this year might turn into 8k the way it is going.

Fees here are depressed, with a range of $325-$400 for me for non complex regular 1004 form work ( I could be swamped with work If I charged lower, lots of bottom feeders around),
 
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hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Kevin...

The more important question is what are you charging for a 1004 and what do you need to charge/what kind of volume do you need (the two are obviously linked) to stay in business?

What I get on my side of the continent and JGrant gets on her side doesn't really matter, does it?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Imo it's good for appraisers to discuss what they earn for regular non complex work....my income was over 80k last year because I do a number of complex higher paying jobs in addition to the regular fee work, which unfortunately regular er
fees in S Florida may be lower than in other regions

. I am a moderate volume appraiser though when the work is there I am able to do 5-6 a week, over that is too much....I am lazy as far as driving
and keep my coverage area limited to lower half of one county ( our county is large . ) Some appraisers here cover 3 counties which I find astonishing.

Some people are more workaholic than others of course... income can vary widely in that regard. If I expanded my coverage area and was willing to work non stop I could earn twice as much.
 

Salty

Member
Joined
Mar 12, 2010
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I am very slow to almost nothing. That is most likely because I typically will not complete a 1004 for less than $400. For me, I have to be paid for holding the liability as well as the completing work. I've already started the process of moving away from residential appraising. If all goes as planned, I should be out within 3 years at the most. It really is a shame. I just got in at the wrong time. As of now, it's just not worth to me anymore. I love the job, the flexibility, etc..., but the income is just not there in my area. AMC's do not pay what amounts to a living wage for someone who pays for their own benefits/expenses and for the life of me I have not been able to find enough non-lender work. Maybe if I was a better salesman, but all I ever wanted to be was an appraiser. To think what I put my family through when I was a trainee for 3 years only to earn a meager wage of 50k pre-tax in my area is like a punch in the gut.
 

JKTenn

Freshman Member
Joined
Apr 30, 2015
Professional Status
Certified Residential Appraiser
State
Tennessee
$400 for most 1004 in same county; sometimes discounted for volume work. I cover several counties, but would like to have the volume to narrow it as I am getting lazy over driving as well.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Only grossed 18k last year in this business.
I'm ready to go out and find a real job.
Also, what are you guys charging for single family 1004 form?

$18k all year even at $250 is only 6 per month.

I almost billed that in one very busy month last year.

This year my fees for 1004s has ranged from $450-$1,200.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I get $1500 (and above ) for high end complex work, I can say my fees for 1004 range from $325 to$1500
 
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