Desktop Appraisals Becoming the New Normal

[shrubberyvaluation]

I'm still gettin a large volume of full appraisals, I haven't seen any desktops assigned since COVID desktops.

 

[ToddGack80]

Another appraiser recently told me we would have to ask for a survey (which is reasonable) but in my 20+ years most homeowners are too lazy to dig it out or even know what it is. Even so, that will not show areas with no second floor, like a two-story family room, nor will it show finished space over the garage. Few assessor's in my area have floor plans online, and none of them show interior walls, room layouts, etc. Even if the survey is 100 accurate and representative of the entire living area, how about the room layout? Are we to have the homeowner walk us through using their cell to zoom us their layout (which is what I was told). So they are promised a less invasive appraisal and now asked to do this? And some lenders I've heard from still want me to shoot comparable photos. So what is the point of a desktop if I still have to drive the neighborhood? It's ludicrous. Typical lack of information, real world testing, etc.

 

[RCA]

It is sad, and I do hate to bring bad news, but desktop appraisals, while they do make sense in some cases, are also going to serve as a career exit point for many appraisers.

It is increasingly more apparent to me, that far more advanced methods are needed for appraisal that require engineering level knowledge. It is not just appraisers who lack competence. Even more so, are those working in lending and the AMCs - who are often atrociously incompetent and irresponsible.

Good appraisers or valuation engineers will often go into an area where there are gross misunderstandings of value and actually reset or correct pricing structures through the application of logical analysis, math and computer programming. They are able to make sense out of nonsense.

 

[J Grant]

Best strategy is upgrade them to a full inspection unless they come with great information sent with the order. If an appraiser has to start chasing photos/floorplan or doing it remotely with a home owner the process is out of control

For now I am going to opt out of desktop 1004 as a product I cover on a portal that clients send me work over - I might opt in later but for now want to hold off on doing them till see what happens. If other clients send a desktop - I do not want to lose a client by refusing so would upgrade to full inspection wherever possible. The fee from my clients is the same either way which is smart of them since an appraiser has no monetary incentive to upgrade to an inspection.