Hot Off the Presses

[Mejappz]

Very aware. What day does "back in the day" reference?

Mortgage brokers days. Lots of trainees.

 

[DWiley]

Very aware. What day does "back in the day" reference?

back in the day

1. used for talking about a time in the past, usually when you are remembering…

dictionary.cambridge.org

Just fondly recalling some of the 10,000+ days that I spent working in the fee appraisal world .... though almost never for MBs and certainly not with a lot of trainees. I did have SRAs, CGs, etc. though Peace

 

[Sadie]

Thank you

 

[Sadie]

For those who do n/c, the following may be beneficial - at the very least as support for ratio allocation of costs.

View attachment 96460

Full document here:

https://www.nahb.org/-/media/NAHB/news-and-economics/docs/housing-economics-plus/special-studies/2025/special-study-cost-of-constructing-a-home-2024-january-2025.pdf?rev=00a42a1ce63b4a22a4dba9bda8af954b

I just reviewed this. Here the lot costs are about 30% of total.

 

[Elliott]

US Bank use to have a thriving construction loan business and I enjoyed the pocket money each month for $75 inspections. I used M&S's table at the back of the book. I tended to round up to keep the builder from running into a jam.

The Census 'estimates' seem to be seriously lagging behind reality, just like the BLS. There is a shortage of housing and we need to build more of them.

 

[shrubberyvaluation]

I just reviewed this. Here the lot costs are about 30% of total.

Depends on the quality of the house.

 

[Sadie]

Depends on the quality of the house.

Or the scarcity of land.

 

[Bobby Bucks]

You didn't know?

If I recall correctly, DW had run his fee shop for years before being appointed to the ASB in 2000. ASB service is a part time gig at most, not a full time job or career position. He was still working that fee shop as his day job for a couple years after his terms ended in 2007. Besides that "boots on the ground" he's still been reading 1004s from fee appraisers almost every day since then. How much more of a subject matter expert does he need to be before people stop trying to imply he has somehow forgotten how to hack out a 1004?

DWs Swingline stapler probably knows more about appraising in general and the appraisal profession as a whole than some of the loudmouths here. Myself included.

Well said. Which is why we should be grateful DWiley participates and contributes to this forum.

 

[Fernando]

I'm just amazed.
Is the average home in America 2,697 sf with average lot size of 20,907 sf at cost of $428,000?
Most older homes here are like 1,500 sf with lot size of 5,000 sf and easily go over million dollars.

 

[alebrewer]

I'm just amazed.
Is the average home in America 2,697 sf with average lot size of 20,907 sf at cost of $428,000?
Most older homes here are like 1,500 sf with lot size of 5,000 sf and easily go over million dollars.

Since no one's told you yet, Fern - CA isn't like the rest of the US.