Austin Appraisal Slowdown

[Elliott]

Applications are down. No loan applications, no appraisals.

 

[Cooper8]

It's slightly slower, but refi's are on the upswing and much harder to schedule. Are you reliant on AMCs?

100% of my work is for AMC's. I find I prefer working for them vs. borrowers directly. Still getting plenty of work but the fees have dropped dramatically. I expected orders to slow during the winter months but I did not anticipate the fees dropping so much.

 

[Cooper8]

I can not comment on local market but as rates go up, refinances will dry up for everyone

Idk your prior fees in PA, or what you are able to charge as twice as much, or who your clients are - but as the new kid in town, they used you when things were busy, if you were fee gouging (not saying you were ), if you were charging max fees due to conditions and now things are slower, these same clients remember who charged what - lowering your fees now if they Plummeted sounds like AMC up and down pressure- if with lowered fees if you suddenly so dead slow could be another reason - though most clients will never reveal the real reason they stop sending work.

With lowered fees I get plenty of work. Just was not anticipating having to lower my fees so significantly over the winter months.

 

[Terrel L. Shields]

I don't expect the Austin market to slow down significantly for the foreseeable future. They are still experiencing a strong influx of migrants, and Samsung just announced a $30B new facility. That should keep the wheels greased for a while. That said, I do expect most of the continued growth to be in the more rural areas - Bastrop, Taylor, Elgin, Lockhart, etc., as home affordability in the 'central' sector (Austin/Round Rock) is just not sustainable.

You mean no such luck for Caldwell and Rockdale..eh? Wink, Texas ought to resurge and I bet Midland is finally out of the doldrums of housing surplus. Happy days are here again in the oil patch.

Welcome to North Texas

Welcome to the Panhandle

Welcome to W. Texas

Welcome to S. Texas

 

[Tim Hicks (Texas)]

You mean no such luck for Caldwell and Rockdale..eh? Wink, Texas ought to resurge and I bet Midland is finally out of the doldrums of housing surplus. Happy days are here again in the oil patch.

Welcome to North Texas
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Welcome to the Panhandle
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Welcome to W. Texas
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Welcome to S. Texas

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Terrel, you are just advertising how much vacant land we have for Californians to move here.

 

[Terrel L. Shields]

just advertising how much vacant land we have for Californians to move here.

Vacant...and a lot of it without an electric pole within a couple miles, no rural water, and no sewer. Californians won't like that especially if they cannot recharge their E car

And look they have pets out there too... that could have been in the Panhandle of OK...or NE NM...SE Colo or SW KS...but its all the same.

 

[Bobby Bucks]

You mean no such luck for Caldwell and Rockdale..eh? Wink, Texas ought to resurge and I bet Midland is finally out of the doldrums of housing surplus. Happy days are here again in the oil patch.

Welcome to North Texas

And don't leave out picturesque and historic Jeff Davis County, the garden spot of the Lone Star State

 

[Terrel L. Shields]

Nor should we forget the Turnersville Bank