Appraiser Earnings Again!

[Tim The Enchanter]

Mark, I'm kinda slow here, busy trying to make money and all. I always thought the gov made money on printing presses. :lol:

Seriously, I work L.A county mostly, but $350 for a normal type res property is pretty typical here, probably not much different in Riverside.

Work is moving along nicely here, so multiply times how many jobs you can get and do, minus your expenses, and voila.

And if you can RELIABLY

 

[Paul Ness MAI]

Here's some interesting national data for you. A 1997 survey by Wash. State Univ. indicated the mean appraiser salary was $58,000 in that year. Also, "the data showed that professional training, beyond that required for a state license or certificate, results in additional income". An article presenting the survey results was published in the Journal of Real Estate Research and can be found at http://business.fullerton.edu/journal/past...02/v18n2a07.htm.

 

[Terrel L. Shields]

OK - straight answer. I will put it this way.

In 1980-in the Oil Business- I had a net taxable of $40K±. In 2000 tax year, I exceeded that net as an appraiser for the first time. In 2001, as best I recall, I had nearly the same net @ $44K±, (excludes my farm income.) I am on track to do somewhat better this year, and very much worse on the rancho deluxe.
ter

 

[jtrotta]

$350 for a typical non complex seems fair

would that mean if you had a complex job that your fee could be as much as $1,500 :?: $2,000 :?: $2,500 :?: for one job :?:

by the by, gamblers - don't know of many rich ones; the whales that come into LV, make their money elswhere and go for the fun of it, it's the little people that believe they can the beat odds, that go there and loose their houses etc.; and if you could pick up $15,000 per weekend 8O your going into the wrong business; a 6 person shop in the 6 figure range means lots of taxes; certainley an inquirey by the IRS; perhaps some fines & interest there; so whats the real bottom line :?: and is it worth the trouble :?:

8)

 

[Conrad]

Mark,

I have been an appraiser in Las Vegas for over 15 years. My income has ranged from less than 20K to over 120k per year. The interest rate has had the bigest influence in income. My highest income was when interest rates were at their lowest. I now own my own business and at this point, I work at my own pace and don't take every request I get. The economy is booming here, but can't go on forever. ( hopefully another 6 years to retirement age).

I don't usually make comments in this forum since I learn more by just lurking than I could ever contribute. There are almost 500 appraisers in Clark County and many that are from out of state that do business here. Since you appear to be an intern, (not listed on the ACS NAtional Registry) your future earnings are bound to be more than they are now. I agree with those that say to weigh all the factors, cost of living and doing business, and the future earning potential. This is a fast growing community and there is a lot of work out there now, but how long can water sources sustain the almost uncontrolled building? This area is also very sensitive to national economy since we depend on tourism as our largest industry.

Please put a lot of thought and planning into your desicion

Good luck

 

[Verne Hebert]

Mark-

If you want to make money as a residential appraised appraising" stay in Vegas. I take a class there now and then (it is the cheapest place for me to take a class) and I am aghast at the simplicity of working there. 4 % grosses, all new, 4 styles on slab, stucco, tile roof, builtin garage, 8 sales in 6 blocks. It doesn't get any easier. Frankly I am not so sure it is truly appraising but "filling out the form". No functional to determine or measure, no highest and best use to consider.

In northern california in the latter 80's I made $ 2000 a week, week after week with occasional lows to rest. Here is very difficult, can make that much. Here you can make more money "doing nails" (twice the fee for a fill as the bay area).

I have a friend in the bay area from college. He has an two assistants and does about 100 appraisals a month (if you call them appraisals) give or take 20-----$350 a pop minimum.

Appraise in Vegas, work the tables or "do nails"

 

[Mike Garrett RAA]

Once licensed or certified you should expect to make from $60,000 to $120,000 a year depending on your market, your talent, and your ambition.

Here is the math, adjust it for your location and typical fees.

5 appraisals a week at $350 = $1,750 a week
4.33 weeks in a month = $7,577 a month.
11.5 months = $87,141 a year.

If you want to earn more....work more. If you want more "free time" work less.

One appraisal a day, five days a week is a comfortable pace provided you don't have to travel great distances.

Expect to pay 8 to 10% in expenses AND at least 20% for taxes.

Still beats flipping burgers at Mickey D's.

What I love are these new registered appraisers who are telling people they can do 3 or 4 appraisals a day! Uh huh, sure, ok......your expenses wont be very high once the state catches up with you...free rent in the state pen!

Thus sayth the old guy. (22 years appraising and I still don't make mid 6 figures...nor do I want to)

 

[wade3333]

I think one of the original questions was "what do you make appraising" What I make in South Georgia has nothing to do with what you may make in Cal. I am a 1 person operation and make a good living and social security is kicking in every month. I have done worse Wade