Discussion about AMC worth watching

[Carnivore]

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here is some good news for the res members here




A recent industry analysis shows the appraiser workforce has been shrinking for years, and younger appraisers are leaving because other careers offer better pay, benefits, and stability. The data shows:

• The number of U.S. appraisers has dropped from about 98,450 in 2007 to roughly 78,800 today. appraisermachine.com
• Many younger people avoid or leave the profession because the job offers no health insurance, no retirement plan, no paid time off, and requires expensive training with little early income. National Association of BPO Professionals
• The profession is aging fast — 75% of appraisers are over 40, and more than 30% are over 60, showing that younger workers aren’t replacing those who leave. appraisermachine.com

So yes — there are sources confirming that younger residential appraisers are leaving because other careers offer better benefits and a more stable path.

 

[Artemis Fowl]

Not a fan of podcasts. I can read much faster than they can talk. Won't watch 99% of the time.

 

[Carnivore]

’ve got a theory about why PAREA suddenly became such a priority: younger people have been avoiding or leaving the appraisal profession because other careers offer benefits, stability, and a clearer path forward. No health insurance, no retirement plan, no PTO, and years of low‑paid training isn’t exactly a strong recruiting pitch.

So it makes sense that PAREA was created as a way to patch the pipeline and make the entry process look more modern and accessible. Whether it actually solves the deeper problems is another story, but the timing lines up with the industry’s struggle to attract new blood.

To wit NC just dopted and approved PAREA

’

 

[Carnivore]

don't get me started on the desktops and harry the aluminum can collector part time PDR dude

I know that is a risk analyses metric, but it isall falling into place,

 

[George Hatch]

Once it became clear to me that much of the volume was going to go through the AMCs instead of direct engagement I knew it was only a matter of time before their fees leveled out with the splits the fee shops and staff jobs had been paying. Not out of malice or contempt but in response to a competitive market environment - aka capitalism - at all levels of the transaction including lender vs lender, AMC vs AMC, and appraiser vs appraiser. Withdrawal from the competition means surrendering that market share to the competitors.


I had hoped C&R would have turned out as originally intended as an arbitrary exclusion but the govt prevented that.

 

[glenn walker]

we are all being impacted by bad AMCs, there is not enough appraisal work for appraisers to choose only the good AMCs, direct lenders, or non-mortgage appraisals. We need AMCs reform.

I assume your in Los Angeles County and if so the rapid decline in refinances and sales volume has declined to levels in some areas we have never seen and your now just competing against thousands of hungry appraisers who are grabbing any offer to survive.

The LA County and California Politicians are what's destroying your income not the AMCs. Sorry but your no longer living in a area that any appraisers income will support and even if fee's went up 50% they still won't support living costs in Los Angeles Metro or most parts of Southern California.

Time to focus on moving out or learning a new trade or business because the AMC will be here long after you go broke. Only you can save your Ship there's nobody coming to save you.

 

[AppraisingLA123]

If you diversify you can ignore the AMCs, and eventually fannie/freddie. I invite conversation from the left, but unfortunately they resort to name calling within the 1st two sentences. So it seems appropriate to throw out a warning flag.

ever since they antfa, charlie kirk, constant trump bashing, i treat them with contempt

 

[AppraisingLA123]

I assume your in Los Angeles County and if so the rapid decline in refinances and sales volume has declined to levels in some areas we have never seen and your now just competing against thousands of hungry appraisers who are grabbing any offer to survive.

The LA County and California Politicians are what's destroying your income not the AMCs. Sorry but your no longer living in a area that any appraisers income will support and even if fee's went up 50% they still won't support living costs in Los Angeles Metro or most parts of Southern California.

Time to focus on moving out or learning a new trade or business because the AMC will be here long after you go broke. Only you can save your Ship there's nobody coming to save you.

Yes, but there is a big economy in LA. The median price in my city is 1.5M, i can't afford a house or even a condo. I have to move out of the county, unless prices come down.

 

[AppraisingLA123]

Once it became clear to me that much of the volume was going to go through the AMCs instead of direct engagement I knew it was only a matter of time before their fees leveled out with the splits the fee shops and staff jobs had been paying. Not out of malice or contempt but in response to a competitive market environment - aka capitalism - at all levels of the transaction including lender vs lender, AMC vs AMC, and appraiser vs appraiser. Withdrawal from the competition means surrendering that market share to the competitors.


I had hoped C&R would have turned out as originally intended as an arbitrary exclusion but the govt prevented that.

maybe lenders will wise up and stop using AMCs or a technology will enable lenders to use automated systems that are faster and cheaper than AMCs.

 

[glenn walker]

It's virtually impossible to make a living in any better parts of either Southern or Northern California unless you are older with no mortgage or you have a spouse that has a high paying job with medical insurance and retirement. A single one person appraiser would need to generate at least $150,000 gross to net enough net income to support himself and family. Single maybe $100'000 gross to live a really fairly simple lifestyle with no frills.

Therefore most older guys are coasting towards retirement or leaving the State. There are places that appraisers can make a modest living but in the bigger cities rent and housing mostly eat up what you make. It's glory days really started to end 15 years ago for ones located in places like LA, Orange and San Diego Counties.

Even if every AMC closed the fees being paid by direct lenders is not very good. The current fees would have to double to even get most back onto a level playing field.