Appraisal Volume

[soucat]

Crickets in So Cal.

 

[J Grant]

Waivers are due to expand for loans over 97% LTV starting in 01/2025

The only things slowing the rollout of WAivers is that some properties or borrowers do not qualify for them, and the borrowers who want to retain the appraisal contingency clause in their sales contract.

-and perhaps some lenders have more stringent investors who want an appraisal idk -

But clearly this expansion will further erode the order volume

 

[Essexfenwick]

3 sales… direct clients not AMCs
3 estates
1 trust ordering 3 lot appraisals
2 local bank commercial division residence value
From now till thanksgiving for 2 appraisers

 

[Alsie35]

Crickets in So Cal.

Bummer. Between 80% of CA appraisers being in SoCal, the plethora of existing sub-3% mortgages discouraging moving, uber-high costs/regulations of building and high home prices (let's not even mention the traffic), I can understand.

If you want to live in an appraising Mecca in CA, move to Solano County. If you develop a good system, and get geographically competent, you can expand your practice to neighboring Sacramento, Yolo and Napa Counties. You'll do much better than you ever did in SoCal and be much, much happier.

Call me "been there, done that" (and so well as a matter of fact that we were able to escape back to TX and take the business with us). I suspect the local realtors still miss us up there. There's room - few appraisers, booming, growing area. That's your CA "Tip for the Day". Solano County.