How Do You Complete 2 Or More Appraisals Per Day?

[Eli]

Big boy...I have been at this for almost 15 years. My mom, almost 30 as a senior review appraiser for the FEDS...which I listened closely to for 20 years a the dinner table before going off to college.

I have been fortunate enough to see more in the world of valuation that you can probably imagine. I have done little but eat, sleep and breathe this profession for the last 13 years and am very passionate about it.

Naive is one thing I am not. I could take a report home and sleep on it and message day after day hoping it increases the reliability and credibility of the report but once I am finished with it...that's the end. Dragging a project out for the sake of sipping a coffee all day in my slippers is not how I was raised. Lenders are not asking for self contained type of reporting document that you are implying and lets face it, that is not what you are doing anyway.

You are naive if you believe that you could not do better with more time. We both would be.

 

[nachocheesefries]

Let's talk recognized techniques and methods of appraisal practice and the application of all approaches to value if applicable. Let's talk about something that will improve appraisal credibility and reliability. Let's talk about appraiser selection and removal of any time guidelines by the client. The appraiser is responsible for scope of work. The lender is responsible for selecting a competent appraiser and paying them a C&R fee based on law and regulation.

This will never happen. Projects have due dates. Who do you think you are? Everything has a timeline... If you don't like the due date, don't accept the order.

 

[nachocheesefries]

You are naive if you believe that you could not do better with more time. We both would be.

Right...but is the client paying me enough and is there an expectation that would allow me to complete one report every three days so I could claim it is a PERFECT report? Hell no they aren't. They expect a solid report in a timely fashion.

 

[Eli]

Right...but is the client paying me enough and is there an expectation that would allow me to complete one report every three days so I could claim it is a PERFECT report? Hell no they aren't. They expect a solid report in a timely fashion.

FNMA is monitoring things and that will not change. Be careful regardless of what your client thinks. The government is coming down on monitoring. What if FNMA suddenly wants all applicable approaches to value and they say what is applicable? How would that impact your turn times? I take it you operate in somewhat low transaction areas where there are few transactions and diverse demographic areas compared to a Chicago, Kansas City, Atlanta, Memphis, etc. What if FNMA told you tomorrow that you had to do cost, income and sales comparison if applicable? Would that improve public trust?

 

[TC]

AMCs

I could NOT care less

 

[Bobby Bucks]

I never said said I did this nor implied that is 'what I believe'...those are your idiot words. You are making up some bogus CRAP and applying it to me and every other appraiser who works faster than you.

I could care less if you would hire me...you sound like a MO RON.

That should be "couldn't care less", not terribly important, unless you're calling someone a moron in the same post. I don't understand all the hostility, maybe someone didn't get their Red Ryder carbine-action, two hundred shot Range Model air rifle with a compass in the stock this year.

 

[Michigan CG]

Jeez guys. If I had a full time assistant/secretary I could write two a day.

 

[nachocheesefries]

That should be "couldn't care less", not terribly important, unless you're calling someone a moron in the same post. I don't understand all the hostility, maybe someone didn't get their Red Ryder carbine-action, two hundred shot Range Model air rifle with a compass in the stock this year.

Oh hear comes the spell checker police...I could care less though...alot actually

I just like to fire one across the bow once in a while to the goobers that think they have it all figured out but know of very little other than what happens in their little paradigm.

 

[nachocheesefries]

FNMA is monitoring things and that will not change. Be careful regardless of what your client thinks. The government is coming down on monitoring. What if FNMA suddenly wants all applicable approaches to value and they say what is applicable? How would that impact your turn times? I take it you operate in somewhat low transaction areas where there are few transactions and diverse demographic areas compared to a Chicago, Kansas City, Atlanta, Memphis, etc. What if FNMA told you tomorrow that you had to do cost, income and sales comparison if applicable? Would that improve public trust?

Completing the cost approach on a standard 1004 cookie cutter would do nothing to increase public trust or the reliability on MOST residential assignments. The income approach is junk in most residential assignments as it is not what is driving the market. For that matter, the IA is junk on many commercial projects that are selling strictly on a price per sf.

Here you go again making up hypotheticals to support an invalid argument. I do very little FNMA work...prob 10-15% of my workload.

 

[BarrySW1963]

My friend lost his license completing 2/day

How did it actually go down? One bad report? Several bad reports? Falsified reports? Subbing out work to non-licensed helpers? Enquiring minds want to know.