Are we considered an essential service?

[George Hatch]

Which is exactly why, in a much earlier thread, I was predicting some attorney (c.2025) saying something like:
"You knew, or should have known, that any appraisal made during early (or middle, or end) stage of this crisis would necessarily be invalid, given the Certification you signed !!!" Blah, Blah, Blah.

.

That's completely untrue. That cert has a date and that date is neither intended nor interpreted as a prediction of the future. Moreover, no court is going to rule otherwise. That appraisal gets reviewed within the context of that date, not a year later.

 

[George Hatch]

BTW, the people who want this economy to burn down in futherance of their 2020 election preferences will most definitely want all mortgage lending activity to cease.

 

[Meandering]

Where are the appraiser indemnity agreements?

.

 

[George Hatch]

Why would you need one if your value conclusion as of that data was supported by the comparable data that was available as of that date?

If a reviewer attempts to rewrite history on one of my appraisals after the fact I will go after their license.

 

[Meandering]

In California: 1 million unemployment claims filed in less than two weeks


Because data isn't limited to an MLS where no one is working in the RE office.

Dated MLS data?



Could have and "should have" known.

close your eyes, it will all go away.

 

[Meandering]

How many "new" listings in the past 3 weeks?

 

[Meandering]

Traffic of Prospective Buyers Impacted by COVID-19 ...
https://themreport.com/daily-dose/03-27-2020/traffic-of-prospective-buyers-impacted-by-virus
A survey by the National Association of Homebuilders (NAHB) found 81% of respondents said COVID-19 has impacted the traffic of prospective buyers. The survey collected 308 responses with 51% of ...

Coronavirus Impact: How a Crisis Is Changing the U.S ...
https://www.nytimes.com/live/2020/coronavirus-usa-03-27
How has your community been impacted by the spread of the virus? ... real estate listings in Manhattan have plunged and the spring buying season has ground to a halt. ... March 27, 2020.

Coronavirus Impact On Chicago Real Estate Market: Week 2
www.chicagonow.com/getting-real/2020/03/coronavirus-impact-on-chicago-real-estate-market-week-2/
Since last week's post on the impact of the coronavirus on the Chicago real estate market was the first one this is by default week 2. Let me start with the latest data on contract activity and ...

Coronavirus Impacts Buckhead Real Estate - Buckhead
https://www.buckhead.com/coronavirus-impacts-buckhead-real-estate/
This was my first real sign that things were about to shift in the Buckhead real estate market. It was two weeks ago, March 9th, when I got this message from one of my clients. We had been planning to put his nearly $6 million home on the market soon. A few days later, I showed a beautiful $3 million home to a local family. They loved it.

 

[George Hatch]

As of today, can you quantify the effect on value of the above data? Because if you can then you should. OTOH, if you can't then nobody else can, either.

I was talking to a client yesterday who said they were going to lower their maximum LTVs by 20% in anticipation of their expectations for the future. Call me crazy, but I think that's not only prudent on their part, but it's also none of my business. Their underwriting of these risks are not part of my decision making nor are they my responsibility.

 

[djd09]

Apparently essential appraisers and their carrot danglers do.

hee haw hee haw.

 

[Meandering]

As of today, can you quantify the effect on value of the above data? Because if you can then you should. OTOH, if you can't then nobody else can, either.

I was talking to a client yesterday who said they were going to lower their maximum LTVs by 20% in anticipation of their expectations for the future. Call me crazy, but I think that's not only prudent on their part, but it's also none of my business. Their underwriting of these risks are not part of my decision making nor are they my responsibility.

Predatory loans to break quarantines?



No market value as of the day.

You want retro - market data from February 2020 or earlier? Okay.

You want some kind of indigenous value, Need the definition.

You want some kind of "investment value" with a bunch of EAs and maybe a few HCs? Okay.

You want to use the value defined in FIRREA? HA nope, the virus killed it. Find a different value definition you want.



California issues statewide stay-at-home order in ...
https://www.nbcnews.com/news/us-new...de-stay-home-order-coronavirus-fight-n1164471
The governor of California on Thursday evening issued a statewide stay at home order to help combat the spread of the novel coronavirus. The order is effective Thursday night and asks residents to ...

What you CAN do when under California's stay-at-home order
https://www.kcra.com/article/what-you-can-do-when-under-californias-stay-at-home-order/31797048
Gov. Gavin Newsom issued a stay-at-home order for the state of California amid the novel coronavirus outbreak. The order was issued as a way to mitigate the spread of COVID-19.The order, which ...