How are my fellow appraisers doing?

[Jonah]

I am way slow as well. This time of the year I should be too busy to visit this place as much as I do. I love the free time but dislike the lost wage it is costing me. I just hope and pray that I can hang in there until the market turns again.

 

[Terrel L. Shields]

just hope and pray that I can hang in there until the market turns again.

I hope everyone understands that the level of activity may not return for decades. The housing boom will reverberate for at least 10 years after bottom and there is simply going to be fewer transactions for many years. That is a pretty safe bet.
What will happen to improve our lot is for the Fed to demand more appraisals and fewer AVMs. AND attrition will reduce our numbers. The triple whammy of less work, more sanctions, and higher bar to entry will assure that. Further, I think more and more people are realizing that the reward in this business does not in any form or fashion match the risk.

Having said that I personally am trying to avoid appraising and doing more consulting, particularly in oil and gas. Those in "oil country" should consider switching to becoming Petroleum Land men - your background and courthouse experience should do well and the average PLM starts at $200/day plus and $500/day is not unheard of especially if you are willing to go search records in remote counties (travel).

Compensation, imho, remains the sticking point. If you cannot make $1000 a week gross then I don't see how you can hardly survive. Our MLS just raised fees again and I am thinking about dropping off the system. Make the Realtors do my searching for me.

 

[aussie ken]

hey fellow appraisers:

Just wanting to see if your business is flourishing or quite simply "DEAD". I have been averaging abt 2-3 a week. There are signs, however, that it maybe picking up a bit as there are multiple offers and offers higher than the asking price.

Mixture at the moment J.......small MUM & DAD Mortgage Belt stuff has dried up but luckily we do get some bigger stuff in our practice.......have some subdivision land next week and hopefully next month some retirement villages.

 

[JTFAPP]

Nothing to write home about! Busy few weeks, then a lull. Not bad all things considered, but I think we have some years to get thru. Who knows, I just know Im not planning on buying a NEW CAR next time around !! Something cheap and 35+ MPG

 

[Doug in NC]

I am at 86% of last years volume but I am probably working 25% more due to the complexity of the assignments.

Now Jim, you can't possibly be working harder these days. You forget we have digital mapping, digital cameras, PDAs, and internet report delivery. How could you possibly be working harder?

 

[444nutman]

Now Jim, you can't possibly be working harder these days. You forget we have digital mapping, digital cameras, PDAs, and internet report delivery. How could you possibly be working harder?

Try appraizin in Florida. I think his estimate of 25% is low. YOu have no sales, sometimes you call the realtor that sold your comp and they no longer exist. They either dont work at the office anymore or the cell phone is disconnected. YOu have to figure out how much the market is declining.

 

[J in Florida]

May was the slowest month in years.

 

[Deuce of Spades]

Was real busy and whish nothing except a couple of REOs where the property servicer can't figure out how to change locks and put boxes on WITH keys, much less actually secure the place....

Just got a call from Fiserv, who only calls when they have high end properties and have not heard from them in months. I asked how their activity is and she stated that they are really slow - 'Usually have 2 sheets of orders to place everyday, and now it is only 1/2 a sheet'. Great 1/2 a sheet to split between 1,000+ appraisers in the area. Time for a garage sale

 

[444nutman]

Was real busy and whish nothing except a couple of REOs where the property servicer can't figure out how to change locks and put boxes on WITH keys, much less actually secure the place....

Just got a call from Fiserv, who only calls when they have high end properties and have not heard from them in months. I asked how their activity is and she stated that they are really slow - 'Usually have 2 sheets of orders to place everyday, and now it is only 1/2 a sheet'. Great 1/2 a sheet to split between 1,000+ appraisers in the area. Time for a garage sale

I am doing mostly sales. The thing is all are short sales. I have done some that are selling at 50% of what they sold for in late 2005 early 2006. I have been hearing some local MB ad on the radio stating that buy now before the prices increase. I laugh everytime. I did one that had a 4 year absorption rate. Going to be awhile before that increase happens.

 

[Lawrence R.]

May has officially sucked for me. 2 orders. One hasn't paid yet. I usually do about 8-10 a month.

So I am off about 80% this month.