Corelogic Just Acquired Alamode

[timd354]

I understand where you guys are coming from....from the corporate side. There is nothing we can do about it, but put yourself in our shoes and you will realize where we are coming from. Mom and Pop store that has been in business for 40 years and Wal-Mart opens up next door....have to find another way to feed your family. Or the factory that is closing down. Kinda of what it feels like to the appraisal profession. We are drowning and have only a few breaths left.

Gimme a break, CoreLogic buying a la mode is not the equivalent of Walmart opening up next to the mom & pop store...in fact, it means little or nothing in the overall scheme of things.

I will grant you that there are other headwinds affecting residential appraisers, but people have been warning residential appraisers about all of these things for almost two decades (if not longer). Like it or not, the days of any residential appraiser being able to practically fall out of bed and make a six figure income with a fairly minimal effort (such as during the period prior to 2008) are long gone and likely never coming back. Things change and people adapt (or wither away) and this is not anything that is unique to the residential appraisal industry.

Change is not easy and some people have trouble adapting, especially when it used to be easy to make good money, but I have no doubt that those of you who are intelligent and willing to work hard will find a way to succeed...I wish you only the best.

 

[chad hampton]

First American also bought forsythe appraisal? Now they've even an appraisal mill. You're direct competitor.

 

[residentialguy]

CoreLogic buying a la mode is not the equivalent of Walmart opening up next to the mom & pop store

It's more like finding out your wife is sleeping with the enemy and you now support here lover.

How do you think you are going to stop it?

Suggestion to A la mode users. Divorce!

Give SFREP Appraise-it a spin for a few months. http://www.sfrep.com/

 

[chad hampton]

If it isn't stopped, the Walmart comparison will be very much applicable.

 

[timd354]

First American owns Corelogic...

Dude, you are only about 7 years behind the times....apprently you are not aware that First American spun off CoreLogic back in 2010 and they have been completely separate companies for over 7 years.

CoreLogic trades on the NYSE under the symbol CLGX

First American trades on the NYSE under the symbol FAF

 

[timd354]

If it isn't stopped, the Walmart comparison will be very much applicable.

How do you think you are going to stop it? Instead of wasting time bellyaching and worrying about things you cannot control, appraisers would be better off figuring out how to adapt to the new and changing landscape

 

[ucbruin]

Dude, you are only about 7 years behind the times....apprently you are not aware that First American spun off CoreLogic back in 2010 and they have been completely separate companies for over 7 years.

CoreLogic trades on the NYSE under the symbol CLGX

First American trades on the NYSE under the symbol FAF

"First American spun off CoreLogic back in 2010..."

Dude, you're correct I am behind the times....

Dude, can you answer my question....

"Was there this much angst when First American purchased ACI?"

 

[chad hampton]

erson

Gimme a break, CoreLogic buying a la mode is not the equivalent of Walmart opening up next to the mom & pop store...in fact, it means little or nothing in the overall scheme of things.

I will grant you that there are other headwinds affecting residential appraisers, but people have been warning residential appraisers about all of these things for almost two decades (if not longer). Like it or not, the days of any residential appraiser being able to practically fall out of bed and make a six figure income with a fairly minimal effort (such as during the period prior to 2008) are long gone and likely never coming back. Things change and people adapt (or wither away) and this is not anything that is unique to the residential appraisal industry.

Change is not easy and some people have trouble adapting, especially when it used to be easy to make good money, but I have no doubt that those of you who are intelligent and willing to work hard will find a way to succeed...I wish you only the best.

Is low 6 figures a lot of money? I make about $125-150k most years and it's quite offensive that you say I put in minimal effort. I also don't consider it to be a lot of money. Most of my piers in other fields do better, but some do worse. I don't know why you hold such animosity towards the self employed fee appraiser, but you hold quite a grudge against us. I don't know your situation, but I would never claim that you don't work hard or earn what you make, so I'm not sure why you say that about us.

I know exactly 1 appraiser that makes what I would call a good living. He's a gen. and has a staff of about 5 gens. working for him. I figure he pulls in about $400k, but he also has expenses I can only imagine. And pressure. He's also one of the smartest guys I've ever met.

You're right about 1 thing - I'm not adapting to $100 orders just so the banks can steal more money.

 

[timd354]

"Was there this much angst when First American purchased ACI?"

I recall there was angst, but frankly don't recall how bad the angst was.

 

[DWiley]

I will grant you that there are other headwinds affecting residential appraisers, but people have been warning residential appraisers about all of these things for almost two decades (if not longer). .

I think that is a big part of the challenge that some are facing right now. We have had warnings of big changes for over 20 years now - and they did not happen over that 20 year period. So, many thought that since it hadn't happened yet it never would... but now it is.

We warned of much of this stuff back in the 1990 when the AI database was trying to get going, but no one wanted to hear it. Many thought that Saint DB would be their perpetual protector.