Appraising is like a minimum wage job.

[ucbruin]

Do you have a working spouse....
That earns a consistent high middle class income (or higher)....

 

[Trihard]

The state of the industry is depressing. I ran across an appraisal of my home completed in 2004, fee was $350. Here we are 20 years later and AMCs are getting well over and paying appraisers well under. And it isn't getting any better with VC and hedge fund money backing AMCs who are hiring staff appraisers and developing products and tech to replace us. Once again, I'm so thankful I told my son no when he wanted to team up with me. One of the hardest decisions I ever made, but he's out fishing all this weekend while I'm typing reports with fees from the 1990s.

The inflation calculator says that $340 in 2004 would be $593 today. In 2088 the FNMA 1004 will still be going for $350.

 

[Terrel L. Shields]

Do you have a working spouse....

I had a spending spouse, not a working one so much. A school teacher who quit her job, the year I changed careers she made $600 more than I did...and raised bloody L over it. You'd have thought I never made a dime that year.

 

[ucbruin]

Mechanic Retired appraiser builds record-breaking 50mph wheelbarrow​

Pembrokeshire man breaks world record for fastest wheelbarrow

In his ultimate man shed, Dylan built a motorised contraption out of a wheelbarrow and a scooter.

www.bbc.com

Now we know how our friend Lee is spending his time in retirement....

Vroom vroom, Lee....
Enjoy your retirement....

 

[RedWriter]

Today I woke up at 7 am in order to take some comp photos for a rural FHA order from earlier this week. I left my house at 8 am. This assignment was rural and 35 miles away from my house. The comps were directly 3-4 miles away in each direction, north, south, east and west. After stumbling around dirt roads for 2 hours, I finally got the comp photos that I needed. It took me another hour to get back to my office. At this point it was already 11:30. I went to lunch and had another inspection at 2pm. The owner showed up 15 minutes late and this was a complex assignment on a lake. It took me about an hour at the property to get all the info I needed including measuring the property. By the time I got back to the office it was already 4 pm and I pulled comps. After getting stuck in the weeds and looking around the MLS for something similar it was already 5:30 pm. Since its Friday before memorial day I said screw it, ill finish this on Tuesday. I spent all day today working without being able to bill anything new. Appraising is a minimum wage job.

Tell me you've never worked minimum wage, without telling me you've never worked minimum wage.

Minimum wage is $1160 a month pre tax. Even with the *** backwards way you're doing comp photos, I seriously doubt you're only doing 3 maybe 5 appraisals a month.

 

[Non Sequitur]

Making the rounds in FB forums.

 

[Dublin ohio]

View attachment 89978

Making the rounds in FB forums.

I get them on a regular basis. Anywhere from $215-$250. No use to counter because they are snatched up in a matter of a few minutes.

 

[Non Sequitur]

I get them on a regular basis. Anywhere from $215-$250. No use to counter because they are snatched up in a matter of a few minutes.

Yeah, national firms like True Footage and RSDS snatch up everything that comes their way, have to feed their multi-state licensed staff and foreign assistants.

 

[David S]

Some time I got the 1073 assignment for $450, spent about 15 hours to complete. Almost min wage. Definitely lower than handyman income in my local market.

 

[Zoe]

Today I woke up at 7 am in order to take some comp photos for a rural FHA order from earlier this week. I left my house at 8 am. This assignment was rural and 35 miles away from my house. The comps were directly 3-4 miles away in each direction, north, south, east and west. After stumbling around dirt roads for 2 hours, I finally got the comp photos that I needed. It took me another hour to get back to my office. At this point it was already 11:30. I went to lunch and had another inspection at 2pm. The owner showed up 15 minutes late and this was a complex assignment on a lake. It took me about an hour at the property to get all the info I needed including measuring the property. By the time I got back to the office it was already 4 pm and I pulled comps. After getting stuck in the weeds and looking around the MLS for something similar it was already 5:30 pm. Since its Friday before memorial day I said screw it, ill finish this on Tuesday. I spent all day today working without being able to bill anything new. Appraising is a minimum wage job.

You don't know rural.