How many actually believe 3.6 will be fully implemented this year?

[Bobby Bucks]

Going by my experience with 3.6 so far, the mobile inspection app almost seems mandatory. Anyone writing all the data down on site and then re-entering back in the office is going to see their hourly rate crash. Collecting data once, even if it takes longer on site, will maximize profitability.

FTR, been using a mobile inspection device since the mid 00s with pocket total and the HP iPAQ. It's always taken more time on site and less re-entering in the office, but 3.6 requires a lot more data entry.

I'm like like many, I still use a combination of clipboard, laser & sometimes a tape but I'm almost certain I will eventually go the "magic gadget" route, but I only want to buy one. I've read a great deal about buyer's remorse concerning the toys being marketed by the industry hucksters. It's not just the cost of the toy, but imagine the time wasted on a tool that completes 50% of the report and loses photos. I'm confident that when said gadget is perfected, SFREP can be relied on to be honest about it.

 

[Sadie]

Yeh, good luck with that. So you are going to go quick at a site while trying to figure out from a 4 page list all the photos you are supposed to get? I don't see how that will possibly go quicker. That's already built into the Mobile App. Why take a big list? In 29 years I have never had a situation I had to leave a site quickly. If you don't want to use the mobile app, that's fine. Go for it.

I would think that after several inspections, you would know which photos you would need. I have never used a check list, but they are out there for FHA inspections, as and as I shared, for the 3.6. Many clients have different photo requirements. I do think that regardless of how and where you do the inspection, it will take the same amount of time to complete one of these things.

 

[Sadie]

I just looked at a completed 3.6 appraisal. Forget all the exhibits, photo req. etc. That sales grid is really bad. I think that it will change because its unworkable for the appraisers and its really hard to follow for a client. I am hoping it get fixed real quick.

 

[Airstream]

I would think that after several inspections, you would know which photos you would need. I have never used a check list, but they are out there for FHA inspections, as and as I shared, for the 3.6. Many clients have different photo requirements. I do think that regardless of how and where you do the inspection, it will take the same amount of time to complete one of these things.

Good luck. I think you are going to get burned out going through that form on your desktop searching for photos and trying to remember things. I just don’t get the resistance to using an inspection app. Oh well. We will see about 6 months in.

 

[FMV]

I just looked at a completed 3.6 appraisal. Forget all the exhibits, photo req. etc. That sales grid is really bad. I think that it will change because its unworkable for the appraisers and its really hard to follow for a client. I am hoping it get fixed real quick.

CAN WE SAY TRAINWRECK!!! LOL!!!
Its funny.. nobody responds to our Post.. but EVERYBODY knows it the TRUTH!!! This Forum has become TRASH!

 

[Tom D]

Just looking at all the minutia that you now have to put in the report, with basically your work file data there into it, to prove how you got the cost and income or approach and everything else. This is a death spiral for not making a good living anymore. I do all big city the same little row homes, so i don't think my time doing will not be as bad as the rest of yous. And i assume i will get fee increase, but i only do this now out of retirement boredom. But this isn't a professional job to live with, it's becoming a factory hourly job. Slightly better than working in a store.

 

[Airstream]

Just looking at all the minutia that you now have to put in the report, with basically your work file data there into it, to prove how you got the cost and income or approach and everything else. This is a death spiral for not making a good living anymore. I do all big city the same little row homes, so i don't think my time doing will not be as bad as the rest of yous. And i assume i will get fee increase, but i only do this now out of retirement boredom. But this isn't a professional job to live with, it's becoming a factory hourly job. Slightly better than working in a store.

I am retired as well. Still thinking through if this is going to be worth it. The problem is that if I make too much it just throws me into a next tax bracket. So really not making that much money after the FED and STATE get their share. Then with the extra headache it becomes less desirable.

 

[Sadie]

Good luck. I think you are going to get burned out going through that form on your desktop searching for photos and trying to remember things. I just don’t get the resistance to using an inspection app. Oh well. We will see about 6 months in.

Too funny. I have worked though several of these and the only thing that burns me out is the continuous drop down menus, the need to hand calculate adjustments in ACI, the lack of carry over of entered data and the totally unworkable grid. Photos are the very least of my peeves, in fact they are not a peeve at all.

 

[Overimprovement]

Not sure if this has been brought up--but another negative impact is efficiency of inspections. I would routinely have 2-3 days in the field, scheduling up to 4-5 inspections in a day. Once you are out and about, not having to come back to the office after every inspection saves both time and money--gas, depreciation, etc.

If each inspection takes twice as long or more, those efficiencies go away. More cost to appraiser. And anyone who thinks this will level off to higher fees has not been watching the race to the bottom very well. Once a sufficient # of the puppy mills are comfortable with 3.6--which will take a lot less time than any indy appraiser, the fees will revert to what they are now. Count on it. And go down from there, because...

This is all before considering how AI will accelerate the demise of the indy residential appraiser. AI will quickly be introduced into the 'report' process. And moreso into alternative valuation models--already well underway.

Another factor is the industry has historically been comprised of folks who needed at least a Bachelor's degree, several hundred hours of appraisal classes and at least 2-3 years under a mentor to get licensed or certified. Because of that time and money commitment, this group valued its time much higher. I know I did! More of more from this group retire daily. Hello Terrel. Others will quickly tire of the new normal and seek other things. Today, the industry is being restocked with 'appraisers' who needed FAR less time, money, and education to get the same level of license. To them, $300 for 8 hours of work is a good gig--partly because they only spend 4 on it.

I predict that by the end of 2027, the median 3.6 full interior appraisal fee paid will be less than $300, and the vast majority of those will be paid by puppy mills who are in bed with the power brokers.

 

[Sadie]

Not sure if this has been brought up--but another negative impact is efficiency of inspections. I would routinely have 2-3 days in the field, scheduling up to 4-5 inspections in a day. Once you are out and about, not having to come back to the office after every inspection saves both time and money--gas, depreciation, etc.

If each inspection takes twice as long or more, those efficiencies go away. More cost to appraiser. And anyone who thinks this will level off to higher fees has not been watching the race to the bottom very well. Once a sufficient # of the puppy mills are comfortable with 3.6--which will take a lot less time than any indy appraiser, the fees will revert to what they are now. Count on it. And go down from there, because...

This is all before considering how AI will accelerate the demise of the indy residential appraiser. AI will quickly be introduced into the 'report' process. And moreso into alternative valuation models--already well underway.

Another factor is the industry has historically been comprised of folks who needed at least a Bachelor's degree, several hundred hours of appraisal classes and at least 2-3 years under a mentor to get licensed or certified. Because of that time and money commitment, this group valued its time much higher. I know I did! More of more from this group retire daily. Hello Terrel. Others will quickly tire of the new normal and seek other things. Today, the industry is being restocked with 'appraisers' who needed FAR less time, money, and education to get the same level of license. To them, $300 for 8 hours of work is a good gig--partly because they only spend 4 on it.

I predict that by the end of 2027, the median 3.6 full interior appraisal fee paid will be less than $300, and the vast majority of those will be paid by puppy mills who are in bed with the power brokers.

Another argument for the old fashioned inspection, providing you remember all the minutiae. Just like getting used to doing FHA inspections or for that picky client that wants photos of everything. More time in the office, but more efficient in the field.