Appraisal Volume

[NC Appraising]

...who tend to avoid rural property. The small local banks take up that slack.

Agree. That is what the rep at the credit union said. Unfortunately, rural equal less volume.

90% of my credit union work are HELOC when the AVM doesn't hit.

 

[alebrewer]

90% of my credit union work are HELOC when the AVM doesn't hit.

I expect this product will become more popular as folks try to figure out how to pay off their CC debt now that there's no hope of Uncle Joe covering it. Of course, there's no standard WRT the valuation product required, but a lot of folks do use 2055.

 

[Essexfenwick]

I got busy again, but it ebbs and flows.

Wake up people - even if we get spurts of business, due to WAIVERS taking away approx 30% or more of volume ( my estimate, the figures on it keep changing ) due to that and the influx of PRD reports if a hybrid is chosen, even a busy spurt will be less lucrative. With the new regime into deregulation and getting rid of -uh, people like ourselves, consider what might unfold. We are the enemy - even if you voted for him-appraisers are part of the swamp, pesky Karens standing in the way of profit., Musk can decide that we are inefficient and whip out an AI program to replace us, and with the fed agencies shut or neutered, nobody is left to stand up to it. This prediction might never occur - but there is volatility out there now regardless- Fannie Freddie might be dropped from receivership, etc. Make whatever $ you can in the next few years - there might be an enduring need, one hopes for niche and complex/high end but that pool of work is limited.

A very determined newbie might thrive if they continue to learn and enlarge their skills. than if they remain an expendable mediocre appraiser-

I totally disagree. The new regime is aghast at the attack on small business and promotion of centralized power. I think they are going to come to the aid of the realtors, title attorneys and mortgage brokers. They hate Fannie Mae and Freddie. We need to get on their radar because we are small but probably 75% pro Trump, pro borders, America first and pro American dream. The collectivists cannot stand the American real estate industry that creates most individual millionaires of any industry. Trump loves the real estate industry and fully understands the reprobates that hate it’s independent nature. The swamp creatures that have attacked independent real estate people need to be made to heel.

 

[J Grant]

I totally disagree. The new regime is aghast at the attack on small business and promotion of centralized power. I think they are going to come to the aid of the realtors, title attorneys and mortgage brokers. They hate Fannie Mae and Freddie. We need to get on their radar because we are small but probably 75% pro Trump, pro borders, America first and pro American dream. The collectivists cannot stand the American real estate industry that creates most individual millionaires of any industry. The swamp creatures that have attacked independent real estate people need to be made to heel.

Good luck reminding them of how many appraisers voted for T, and I hope you are right. Sorry but despite your fervor, your past and present role and choices make you a swamp creature, in RW parlance, because you hold a state RE license and are federally regulated and reaped $ from it all these years. And we are one of the holdout few who can quash a loan and impede profit.


Pause a moment from cheerleading your team and consider the facts. Trump hired Musk to build a new "Govt efficiency" office and intends to gut as many regulations and agencies as possible. The fact is tht a number of regulations protect the avg person and stripping these protections benefits the large corporations and the wealthy 1%. The appraisal field exists in large part due to regulations and investors and institutions who have some modicum of prudence regarding taxpayer backing. Take that away and watch the profiteers and AI used by the tech titans to rule and no fed agencies with any power left to fight back.

What you lump as "the collectivists" are also comprised of the many democrats who work as RE agents and mortgage lenders, and we own many small businesses that employ local folks vs the large corporations and wealthy tech titans like Musk who donated to Trump and own him, despite his presented his I am for the working guy rhetoric.

How did the de regulations in the Bush years 2006-2008 boom, with the predatory lending and toxic loans, work out for RE markets and the financial markets?

Musk;s stated toal is gut 80% of federal agencies (so the wealthy can pay very low taxes) While getting rid of some bloat is good, a widescale gutting will not reduce services and protections that many, including red states fokls rely on, it will ripple though the encomy and cause a recession. Besides all the unemployed federal workers, govt agencies contract and buy from private businesses.

 

[Alsie35]

Been doing 10-13 a week at good fees (higher than pre-COVID but obviously down from 2020-22) the past 3 months. Once again, on top of % rates, it comes down to your system, your client base and your geography. (San Antonio still one of the top 5 fastest growing areas of the country). I can't imagine doing this job on the East Coast or Upper Midwest - especially this time of year when weather and traffic congestion collide. Sunny, dry and mid-70s today as we travel on our appraisal rounds, Making America Great Again.

 

[Essexfenwick]

Good luck reminding them of how many appraisers voted for T, and I hope you are right. Sorry but despite your fervor, your past and present role and choices make you a swamp creature, in RW parlance, because you hold a state RE license and are federally regulated and reaped $ from it all these years. And we are one of the holdout few who can quash a loan and impede profit.


Pause a moment from cheerleading your team and consider the facts. Trump hired Musk to build a new "Govt efficiency" office and intends to gut as many regulations and agencies as possible. The fact is tht a number of regulations protect the avg person and stripping these protections benefits the large corporations and the wealthy 1%. The appraisal field exists in large part due to regulations and investors and institutions who have some modicum of prudence regarding taxpayer backing. Take that away and watch the profiteers and AI used by the tech titans to rule and no fed agencies with any power left to fight back.

What you lump as "the collectivists" are also comprised of the many democrats who work as RE agents and mortgage lenders, and we own many small businesses that employ local folks vs the large corporations and wealthy tech titans like Musk who donated to Trump and own him, despite his presented his I am for the working guy rhetoric.

How did the de regulations in the Bush years 2006-2008 boom, with the predatory lending and toxic loans, work out for RE markets and the financial markets?

Musk;s stated toal is gut 80% of federal agencies (so the wealthy can pay very low taxes) While getting rid of some bloat is good, a widescale gutting will not reduce services and protections that many, including red states fokls rely on, it will ripple though the encomy and cause a recession. Besides all the unemployed federal workers, govt agencies contract and buy from private businesses.

Appraisal is an essential business once government doesn’t backstop mortgages. It’s the collectivists that threaten the prudence of the market. Does anybody care if their bank is irresponsibility run with too much risk ? The customers should be regulating financial companies with their research… it’s much more effective and doesn’t require sloppy, slovenly bureaucracy that just ends up printing money anyways.

I agree that reallocating the economy will cause a recession but we are heading toward the cliff of a total collapse right now completely dependent on printing money, exponential debt curve, totally misallocated economy.

The FED always talks about a “soft landing” but the issue is far greater. We need a complete reallocation of the entire economy into a productive entity without a horrendous collapse.

That said. You are right that I’m a swamp creature adjacent… work DC metro and push buttons on a computer. I’m no better than anybody else … but I also see the big picture and feel America is up to the task.

 

[Red Flint]

I totally disagree. The new regime is aghast at the attack on small business and promotion of centralized power. I think they are going to come to the aid of the realtors, title attorneys and mortgage brokers. They hate Fannie Mae and Freddie. We need to get on their radar because we are small but probably 75% pro Trump, pro borders, America first and pro American dream. The collectivists cannot stand the American real estate industry that creates most individual millionaires of any industry. Trump loves the real estate industry and fully understands the reprobates that hate it’s independent nature. The swamp creatures that have attacked independent real estate people need to be made to heel.

Jes sayin... Trump loves the real estate industry and fully understands the reprobates that hate its independent nature.

And, WOTD...
The word "reprobate" comes from the Latin word reprobātus, which is the past participle of reprobāre, meaning "to reprove" or "to condemn". The word "reprobate" has multiple meanings and uses:

Noun - A person without moral scruples, or someone who is condemned by God. Synonyms include "miscreant", "degenerate", "deviant", and "pervert".
Adjective - Deviating from what is considered moral or right. Synonyms include "depraved", "perverse", "corrupt".
Verb - To express strong disapproval, abandon to eternal damnation, or reject documents as invalid. In legal jargon, "reprobate" means to reject a will.
Religious - In Christian theology, a reprobate is someone who has rejected the gospel to the point where God rejects them and curses their conscience.

The word "reprobate" originated in English in the early 15th century as a verb meaning "disapprove". It quickly took on the stronger meaning of "reject, condemn". By the mid-16th century, it had evolved into a noun meaning "one who is condemned".

Reprobate - Merriam-Webster - rep·ro·bate ˈre-prə-ˌbāt The original reprobates were hardened sinners who had fallen from God's grace. In time, their name was used outside of religious contexts for any person who behaves in a morally wrong way.

AI Overview

 

[J Grant]

Jes sayin... Trump loves the real estate industry and fully understands the reprobates that hate its independent nature.

And, WOTD...
The word "reprobate" comes from the Latin word reprobātus, which is the past participle of reprobāre, meaning "to reprove" or "to condemn". The word "reprobate" has multiple meanings and uses:

Noun - A person without moral scruples, or someone who is condemned by God. Synonyms include "miscreant", "degenerate", "deviant", and "pervert".
Adjective - Deviating from what is considered moral or right. Synonyms include "depraved", "perverse", "corrupt".
Verb - To express strong disapproval, abandon to eternal damnation, or reject documents as invalid. In legal jargon, "reprobate" means to reject a will.
Religious - In Christian theology, a reprobate is someone who has rejected the gospel to the point where God rejects them and curses their conscience.

The word "reprobate" originated in English in the early 15th century as a verb meaning "disapprove". It quickly took on the stronger meaning of "reject, condemn". By the mid-16th century, it had evolved into a noun meaning "one who is condemned".

Reprobate - Merriam-Webster - rep·ro·bate ˈre-prə-ˌbāt The original reprobates were hardened sinners who had fallen from God's grace. In time, their name was used outside of religious contexts for any person who behaves in a morally wrong way.

AI Overview

However, part of Trump's "independent nature " means operating with no, as in zero, restraints, whether they be regulatory, law, or prior custom. He inflated values on his properties in cases with appraisals and likely hates appraisers, even if he might support the entrepreneurial sales and financing part of the RE biz

- I did live in NYC during Trump's developer years when he was an apolitical RE investor with multiple bankruptcies and leveraging his assets so top-heavy with debt that he lost most of them

We all , including myself, need to stop using stereotype hot button words like swamp, collectivists, lefties, RW extremists etc if we are going to be able to stand up to whatever the future brings -whether from the Trump admin or another admin - otherwise we are just fodder for exploitation from either party or the big tech titans and corporations -

 

[Tim Hicks (Texas)]

If foreclosures ever return, appraisers will be important again.

 

[TerryRohrer]

If foreclosures ever return, appraisers will be important again.

I'm guessing you won't see that happen. Mechanisms are in place to prevent most from knowing what is going on in the shadows. If you buy loans cheap enough, very attractive returns can be harvested even from deep principal discounts in restructuring. There was a businessman/investor around here who purchased a large portfolio of farm loans from North Dakota banks at deep discounts, restructured them individually, and realized returns probably 3 times what were readily available elsewhere.

GSEs will sell their delinquent loans, buyers will have to offer restructuring, and some (Blackrock, etc) might foreclose and keep them as rentals. Then, borrowers who repay their loans as agreed will subsidize those losses through higher loan fees paid to the GSEs. This is the new way of US Government. In the 90s, we had welfare and could see what it cost us. Then, we "reformed" welfare and now have tax credits that cannot be discovered because IRS records are "confidential" (unless you are Trump). Now, we will not see foreclosures...political cronies and protectees will be approved to profit from buying delinquent mortgages while the rest of us foot the bill without a line item charge ever being seen or known. This system in the shadows will not generate the attention that "student loan forgiveness" does, so will go largely unchallenged by taxpayers.

Yet another reason to abolish the GSEs and let the private sector fund mortgages.

"Fannie Mae's sales of non-performing loans, which are part of the Federal Housing Finance Agency's (FHFA) Conservatorship Scorecard, are intended to reduce the number of deeply delinquent loans that Fannie Mae owns, to help stabilize neighborhoods and to help meet the portfolio reduction targets required under the Senior Preferred Stock Purchase Agreement with the United States Treasury.

FHFA has enhanced guidelines over time for these sales to encourage broad buyer participation and provide safeguards for borrowers. These guidelines require the buyers of non-performing loans to offer loan modifications to borrowers and provide foreclosure alternatives whenever possible. If foreclosure cannot be prevented, property sales to owner-occupants and non-profit agencies must be prioritized.

Fannie Mae offers these loans for sale to eligible investors, nonprofits and public sector organizations. The company anticipates bringing pools of loans to the market from time to time. Fannie Mae intends to offer a mix of both larger and smaller pools that may be more attractive to nonprofits, smaller investors and minority- and women-owned businesses."

Whole Loan Sales | Fannie Mae

capitalmarkets.fanniemae.com