- Jun 27, 2017
- Professional Status
- Certified General Appraiser
Rates go up, work slows down, and waivers go well over 50%. A prolonged period with that formula could easily force out a large number of us. I am not sure if they would pull back on waiver use to keep a % of us alive, or just let the lending side sunset? I guess it depends on the politics of the day when it happens.
A lot of older people are refinancing loans that have already been paid off to a large extent so, appraisals are not needed in many cases. And, there are other situations where waivers make sense. I don't know why appraisers should be concerned about waivers.
When it comes to residential appraisal, homes are getting more complex and more expensive. Accurate valuation is becoming more of a problem. More and better quality data has to be obtained and more advanced analytical methods. What appraisers have to be worried about is keeping up with the technology, improving their knowledge of statistics (the right kind), computer programming and so on. Everything is almost always changing. .... Now lumber prices are skyrocket high.