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How is your crystal ball?

How good will the appraisal business be in 2003?

  • Same as this year (steady as she goes)

    Votes: 0 0.0%
  • It has got to drop (everybody and anybody has already refi'ed)

    Votes: 0 0.0%
  • It is going to keep growing (pipe dreams)

    Votes: 0 0.0%
  • How should I know, I don't even know what I am wearing today!

    Votes: 0 0.0%

  • Total voters
    0
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Tim Hicks (Texas)

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
After the poll aaking how much everybody made and the obvious spike our profession took last year, I was wondering what our fellow appraisers predict will happen in 2003.
 

xmrdfghap

Senior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
Florida
I project two things happening. First there will be arecord number of foreclosures which will result in a massive amount of REO appraisals, plust distressed property appraisals. Secondly, with the huge number of aliens coming to the USA, working hard, and being successful, there will lots of sales. The refi boom may soon bust. The REO and sales of existing homes will continue to escalate.
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
I think it really depends on your market and your clients. My top two clients are completely different. One is the largest lender of purchase money in my market and the other does huge volume in refi's. There are no REO's in my market as demand is so great that anyone can stick a sign in their front yard and sell within 30 days tops. But the market can change and will change!!!
 

jtrotta

Senior Member
Joined
Jan 16, 2002
our area is very unpredictable; it fluctuates even in a good market - right now re-fi's are a majority of the market; but was with one of the largest builder's in my area, $600- $800+ and he can't build em fast enough 8O .

we do the saturday morning breakfast club (been doing it fer years); local builder's; business owners; electrician's and plumber (all own their own company's) and we round table, so everyone gets a handle on whats happening. Most of these guys are 2nd generation and I had started with most of their dads years ago. It's extremely interesting to get other views on market trends.

8)
 

JennC

Junior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Hampshire
Saturday morning breakfast club sounds like a great idea! Did you just happen to know all the dads way back, or was this an organized thing?
 

Judy Whitehead (Florida)

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I wish I could get even the appraisers in this area meeting and talking with each other, although truthfully I haven't asked them. I stopped in several offices and introduced myself and have talked to a few a Realtor functions but they are not interested in networking.

If I go to the Realtor functions or Builders Association functions, then all anyone is interested in is their organization - and I don't really blame them. The rest of us are just there to network.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Charlotte, NC has reported record sales for November and December of 2002. No reason for this to not continue! Whooo Haaa
 

JennC

Junior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Hampshire
I bet they're good 'ol buddies. If people enjoy getting together like that, and that often, they're probably well acqainted.
 

Dave Brigle

Sophomore Member
Joined
Dec 1, 2002
I have breakfast 2-3 times a week with my "groonies"... have a few local appraisers that I talk to and even work together on a few apprsls. Have always felt that networking is important. Just formed a joint venture with a local builder who has close ties to the asian community. This year should be more of the same at least until 4th quarter.
 
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