Declining Market = Do Not Use?

[INSPECTOR]

Inspector,
I too have only been getting a few jobs a month. Lots of hits on my website,

You have a website? How's expensive is that? Do you think it is worth it?:icon_idea:

 

[Michelle B]

It's part of the package from Alamode when you buy the Elite WinTotal program. You can set up a generic simple page, or expand it and customize it. It's pretty simple to do. I think it's worth having for exposure and marketing purposes. Especially with the way the market is going these days, although it obviously isn't bringing me anything this month.

 

[Justin Sprague]

Did an appraisal for a client out of Irvine, CA in December who I thought was a good client. Explained to the loan officer there is a strong possibilty that the report will be marked declining and over supply just to let them know up front. Loan officer says no problem, proceed.

Needless to say I complete the report, declining and oversupply and receive 2 voicemail messages asking me to change to stable. Loan officer begs to remove all comments regarding the decline. She says "we all know its declining but do we really need to point it out". You have got to be kidding me!

All said and done, appraisal stands and I have not received another order from that client.

 

[Randolph Kinney]

I did a pre-listing appraisal last week for someone who wanted to have a real appraisal, not a CMA.

It seems that sellers are beginning to wake up that the market has been declining and the Realtors, MBs and LOs are not helping the sale go through by pretending that the market is anything but declining.

I may not be getting business from MBs or lenders, but I really did enjoy the fact I had no pressure at all, just nothing but the truth, the whole truth, nothing sugar coated.

 

[INSPECTOR]

It's part of the package from Alamode when you buy the Elite WinTotal program.

Thanks Michelle. I have the capability with my internet carrier...just never got around to setting one up.

 

[ginna currie]

Declining market?

In NYC, there has only been a slight decline in the Single family homes market. Everything else(multifamily homes,co-ops, condos, office, commercial, manufacturing, etc.) have increased accoding to the NYC Dept of Finance. This is how the Dept of Finance can justify going up on the taxes for 08/09 for the millions of folks who live in N.Y.C.

 

[rnsappraising]

I check declining market

I check declining market box. I've had one client question me for checking stable in today's market. The client felt declining market represented the true market condition. I only have 2 clients and haven't been question for checking declining market.

 

[Michelle B]

Checking the declining box is pretty standard now in south florida for most markets. Even though business has dropped so much, I guess it's probably best for now because it is taking so much longer to do an appraisal because there's more research and verbage trying to prove the declining market, so I don't get the calls and emails to change it. I've only had one comment about it recently. "I had 2 appraisers do reports in the same development recently and they didn't check declining..." hmmmm

 

[Vermonter]

Don't think I've been blacklisted.....only got a few regular clients and checked declining at least once for all of them and received work since.

Actually get questioned for the opposite lately.....Out of state UW are absolutely positive that ALL markets in the country are declining. If marked "stable", I have to add a generous amount of market data to get them to believe it.

 

[JENIFFERW]

I think I need to change my public name and picture, so I can just join in and say what I think. It's very hard to just watch and not be able to say anything. I like my picture though