How Many Appraisals Does The Average Appraiser Complete Per Week? Poll)

[bnmappraisal]

reports only need 3 comps that take 5 minutes to pull, parties easily agree to a schedule 4 inspections a day, the orders are all full fee etc.

I'm 99% sure Digger is on the VA panel. Each appraiser I know on the panel report similar info - 3 comps, always full fee (VA fee) so I do believe that part of his claims.

The rest? I don't have a clue. He has posted pics before of some of the neighborhoods he covers. They seem pretty cookie cutter type, so maybe it's easy and quick to drive the 3 comops, etc. Also, maybe this is why it's his "first vaca in 3 yrs" (another thread)

 

[J Grant]

Maybe he is the true exception to the rule. I don't know. It's pretty clear he's in a class by himself. So are the Amway millionaires, since average return in signing up as an Amway rep for the vast majority ranges from zero profit to a few thousand dollars.

 

[2008 KC Royals]

Do repair inspections count? If so then I do 10+ a week. Going to two properties today for the 4th time each. Doing one tomorrow for the 5th time. I walked around with everyone pointing out what they need to fix but they seem completely incapable of actually doing it. I just don't understand.

 

[Don Clark]

I'm 99% sure Digger is on the VA panel. Each appraiser I know on the panel report similar info - 3 comps, always full fee (VA fee) so I do believe that part of his claims.

The rest? I don't have a clue. He has posted pics before of some of the neighborhoods he covers. They seem pretty cookie cutter type, so maybe it's easy and quick to drive the 3 comops, etc. Also, maybe this is why it's his "first vaca in 3 yrs" (another thread)

I have come behind some of those "3 Comp VA Appraisers" in my own market. I almost never use only 3 comps. that is too small a segment of the merket. i use 4, and sometimes 5 comps in almost all VA Appraisals. And, what some call "Comps" often bear no resemblance to the subject property. My goal is always to use like kind sales. If the subject is a Ranch, i do my very best to use ranch style comps, if it is a cape, yes, i can sometimes use a ranch or a similar sq ft 2 story. Often the only thing I see in some reports is that they were indeed sales, most of the time in the same neighborhood, and sold at an amount similar to the subject contract price.

There are exceptions of course. I am doing one now where I have had to notify the lender(VA/TI) that the value may be below the sales price. Big problem in this neighborhood is that it is completely surrounded by Military property on all 4 sides(Naval Station Norfolk area). Any other area of similar housing is well over a mile away. It is a very small bungalow(900+- sq ft). It will be a challenge and I will likely use a duplex, and maybe a 2 story to my chagrin. Yes, there are 2 story properties there that are similar in sq ft. I will likely use 5-6 comps on this one.

 

[bnmappraisal]

I have come behind some of those "3 Comp VA Appraisers" in my own market

I don't doubt it, Don. I'm sure some are pretty atrocious (as with FHA and/or CONV financing reports). I was just saying that I can see/understand that Digger's claims of 3 comps and full fees seems plausible. The way I read JGrant's post (I believe it was #40?) was that how could someone claim "3 comps/full fees" all the time? VA seems to be the way someone could claim that and be telling the truth.

Right or wrong? Skippy or not? It seems plausible
(FWIW: Even my direct lenders that only require 3 comps, I too, generally have at least 4 or 5 in my reports, even if it's just a listing/pending)

 

[Bobby Bucks]

I’ve always found this topic an interesting one, IMO averages regarding reports per week tell us little since everyone’s situation is unique in its own way. It’s easy to envy someone in cookie cutter land or pity someone in BFE, but we never know what their bottom line really is
I’m reminded of an old boy who runs a charter boat service out of Galveston and Hope Town. His philosophy is that sometimes the tourists are around, sometimes the fish are around, sometimes they’re both around and when they’re both around he digs and charges whatever the market will bear. I think too many in this business get caught up with C & R, I like to charge as much as I can and only take the assignments that involve the least amount of stress and the most amount of cloning. I used to enjoy challenging appraisals, now I leave them to the trainees and gluttons for punishment.

 

[ucbruin]

I’ve always found this topic an interesting one, IMO averages regarding reports per week tell us little since everyone’s situation is unique in its own way. It’s easy to envy someone in cookie cutter land or pity someone in BFE, but we never know what their bottom line really is
I’m reminded of an old boy who runs a charter boat service out of Galveston and Hope Town. His philosophy is that sometimes the tourists are around, sometimes the fish are around, sometimes they’re both around and when they’re both around he digs and charges whatever the market will bear. I think too many in this business get caught up with C & R, I like to charge as much as I can and only take the assignments that involve the least amount of stress and the most amount of cloning. I used to enjoy challenging appraisals, now I leave them to the trainees and gluttons for punishment.

"I like to charge as much as I can and only take the assignments that involve the least amount of stress and the most amount of cloning. I used to enjoy challenging appraisals, now I leave them to the trainees and gluttons for punishment."

 

[Don Clark]

"I like to charge as much as I can and only take the assignments that involve the least amount of stress and the most amount of cloning. I used to enjoy challenging appraisals, now I leave them to the trainees and gluttons for punishment."

With all due respects to Mr. bobby Bucks, and you, if I felt that way i would retire. At 81 I still enjoy the challenge and doing what i consider the right thing. Besides, with my bad health i can't somke, drink or even eat unhealthy food, and I don't golf, haven't fished in years, and definitely too old to to do much else. But, i can still measure houses, take photos, and definitely like the hard ones as they keep my mind sharp. That may not be good enough for others. i understand that.

 

[ucbruin]

With all due respects to Mr. bobby Bucks, and you, if I felt that way i would retire. At 81 I still enjoy the challenge and doing what i consider the right thing. Besides, with my bad health i can't somke, drink or even eat unhealthy food, and I don't golf, haven't fished in years, and definitely too old to to do much else. But, i can still measure houses, take photos, and definitely like the hard ones as they keep my mind sharp. That may not be good enough for others. i understand that.

I'm glad to see you didn't include sex in your list of can'ts.....

 

[ucbruin]

I have come behind some of those "3 Comp VA Appraisers" in my own market. I almost never use only 3 comps. that is too small a segment of the merket. i use 4, and sometimes 5 comps in almost all VA Appraisals. And, what some call "Comps" often bear no resemblance to the subject property. My goal is always to use like kind sales. If the subject is a Ranch, i do my very best to use ranch style comps, if it is a cape, yes, i can sometimes use a ranch or a similar sq ft 2 story. Often the only thing I see in some reports is that they were indeed sales, most of the time in the same neighborhood, and sold at an amount similar to the subject contract price.

There are exceptions of course. I am doing one now where I have had to notify the lender(VA/TI) that the value may be below the sales price. Big problem in this neighborhood is that it is completely surrounded by Military property on all 4 sides(Naval Station Norfolk area). Any other area of similar housing is well over a mile away. It is a very small bungalow(900+- sq ft). It will be a challenge and I will likely use a duplex, and maybe a 2 story to my chagrin. Yes, there are 2 story properties there that are similar in sq ft. I will likely use 5-6 comps on this one.

"I almost never use only 3 comps. that is too small a segment of the merket. i use 4, and sometimes 5 comps...."

Don,

Let's be logical, honest and employ common sense....
4 (and/or 5 comps) is still "too small a segment of the market"....
Yes????