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Commercial Slow Down

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tupeloturn

Freshman Member
Joined
Apr 5, 2011
Professional Status
Certified General Appraiser
State
Maryland
Have any of you guys noticed a slow down on commercial work lately? The beginning of the summer was absolutely nuts and since the beginning of August I have noticed a significant downtick in bid requests. On top of that, I have put out some really low bids with short turnarounds and have not gotten those jobs.

My neighbor has his own residential firm and says they are going bonkers right now.

I know this is cyclical, but I always get in my own head about these things.

I do wonder if people waiting on the FED to make a decision or this election has an impact though...
 

Gobears81

Senior Member
Joined
Nov 7, 2013
Professional Status
Certified General Appraiser
State
Illinois
I've been busy, but there is certainly a regional factor too. I spoke with a guy from northern Wisconsin a few months ago and he's said that they've been completely dead for about a year, and he was under the impression that most of the state was also. He said that anyone who told him that they were busy, he figured that they were lying, so I kept my mouth shut :) Sometimes, activity just isn't happening in certain areas. There is one area in Illinois where the appraisers say that they've never seen so little sales activity, but while sales activity isn't overly high around here, things are happening here and there.

As long as you feel that your reports are strong and are conducting yourself professionally, stressing out about these things does nothing except kill brain cells. It is tough to find time to take a vacation and perhaps do things that are difficult to do when you are swamped. Now's the time for that kind of thing.
 

Michael S

Senior Member
Joined
Mar 18, 2009
Professional Status
Certified General Appraiser
State
New Mexico
The last month or so has been slow in our area and some of the surrounding markets as well. We're starting to bid lower to try and get some more jobs in. It has been pretty busy most of this year and fees have been good. We had a slow patch 6-9 months ago for a few weeks but then things were back to normal again. Hopefully things pick back up again soon but if not I've got the Comp exam to study for and my final advanced class that I'm planning to test out of.
 

BRCJR

Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
I just do not subscribe to "bid lower" because then all others will "bid lower" because they need the work, as well. That sets up the race to the bottom and suppresses fees, just my opinion.

I guess one does what one has to do.
 

NachoPerito

Senior Member
Joined
Jul 25, 2012
Professional Status
Certified General Appraiser
State
Washington
We are slower right now. July and August were over the top busy.
 

Michael S

Senior Member
Joined
Mar 18, 2009
Professional Status
Certified General Appraiser
State
New Mexico
I just do not subscribe to "bid lower" because then all others will "bid lower" because they need the work, as well. That sets up the race to the bottom and suppresses fees, just my opinion.

I guess one does what one has to do.

A $3,000 fee may not be as good as a $3,500 fee but if you're out of work it's a lot better. In a few weeks when we have a few more jobs in the bids will go back up to where they were. We're usually at the top anyways so there's always somebody willing to work for less in Albuquerque and the larger markets. Not as many in some of the smaller markets or some of the harder/more complex jobs.
 

John Glass

Sophomore Member
Joined
Dec 23, 2005
Professional Status
Certified General Appraiser
State
Louisiana
We are slower right now. July and August were over the top busy.

I am seeing much of the same here. August was the best month in a year. It has been a good year, so far. Took a week off this month and will still do my weekly average for the month, but bid requests have slowed in the past couple of weeks. As soon as I mention to someone work might be slowing down, I get swamped.
 

Gobears81

Senior Member
Joined
Nov 7, 2013
Professional Status
Certified General Appraiser
State
Illinois
As soon as I mention to someone work might be slowing down, I get swamped.
I know that feeling! I think some banks send out all of their orders around the same time, since it seems like they come in waves. Lately, it seems like every time I get one or two out, a new batch comes in right away.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
Reporting from Michigan...work is real busy, but I don't do lending work so I cannot speak to that. But I have noticed I do not get as many broadcast order requests for commercial lending work if that anecdotal observation helps.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Four in one day, none in 14 prior to that.
 
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