Declining Market = Do Not Use?

[Pamela Crowley (Florida)]

I'm fast hearing about more and more appraisers being either 'blacklisted' or 'removed from approved panel' for marking their appraisals 'Declining Market'.

If you have not marked any of your appraisals 'Declining Market', please do not answer this poll.

Please do add comments here about your experiences with this.

 

[Wendy]

I don't know for sure if I've been blacklisted, but I'm fairly certain I've lost work over it.

 

[Diego Lopez]

I don't think that lender are blacklisting over marking the declining checkbox in the appraisal report, I can say for a fact that they are not sending any more work once you mark the declining box.

 

[Betty H Church]

I've been marking declining when applicable for a while now. Had a call from a lender a couple of weeks ago asking me if I had made a mistake by not checking "declining," and they were right. I had supported the declining market throughout the report, but forgot to check the right box.

 

[David Dietz]

I have only lost work from Mortgage Brokers who I do not really want to work for any way. Real clients like lenders and private investors want the truth so they are not dealing with a short sale or foreclosure loss in the near future. I fill the report with all the supporting data and I do not get questioned. In fact a client informed us they dropped a firm for not addressing the current market conditions. I think blacklisting if it happens will be from unworthy clients.

 

[Artemis Fowl]

Been marking declining often for a while now. I know I've lost work. Intellectually, I know I don't want work from people who don't want the truth. Practically, it's hittin' the wallet mighty hard. Don't know about actual blacklist but that would be irresponsible and kinda stupid of a lender if that was the only reason.

 

[Alisa]

I work in some areas that are definitely declining and I mark it as such ... I don't know if I've been black listed or not but my business is slow.

One of my clients told me that they have a list of areas that have been determined as declining. This was about 6 months ago so I am not sure
whether this is still accurate or not.

 

[KYLECODY]

Ive been marking declining and oversupply in most neighborhoods all of this year. On all the reviews I do for a large lender, Ive not seen the declining box checked once...sad to see...and oversupply, whats that?

 

[Randolph Kinney]

3rd quarter of 2006, I marked declining. I have not received orders from that MB after that. It could be that the market here in San Diego county stinks back then and even worse today. My orders have dried up because the market activity has decline 30% or more in some locations. It is tough for MBs, Realtors and appraisers; no refinance, some sales.

 

[Liz Mura]

"None of my other appraisers mark declining!" I explained that it is neighborhood specific in the Phoenix area...some are stable, some are declining. He yells, "It's not neighborhood specific, it's house specific!!" Huh?? Ah, we ARE talking about the neighborhood here...