Hybrid appraisal report

[shrubberyvaluation]

Any particulars of the form aside, this is just like a regular appraisal; the appraiser is responsible for the comps, analysis, and value. Therefore the discount for not inspecting should not be that large,, IMO. The only difference is now, instead of you inspecting, they sent a nonappraiser out. Now you have your info secondhand.

On the plus side, you will receive extensive photos and some basic notes on materials and appliances present etc, plus a floorplan ( typically)
The form should include a statement that you are not responsible for the inspection, or you can add your own statement.

You are not responsible for the inspection but you are responsible for obtaining reliable information. It's not sufficient to just believe that source.

 

[ExplainDNA]

From another poster on this same thread:

"Why would any self respecting professional do this sort of thing?? JUST SAY NO."

It’s okay, be offended.

 

[ExplainDNA]

Someday soon they’ll have one of you adding comp photos, another defining market boundaries, still another responsible for checking zoning, and one more to check H&BU, etc., and you’ll all be sitting around saying, “Hey, for a $1.00 it’s a good deal.”

And I don’t think that’s much of an exaggeration. You’ll fold, instead of just saying no.

Go ahead, be offended, I don’t care.

 

[Tom D]

How about this idea.
When you are sick, you go to 1 doctors who looks at you, writes a report, and says good bye. You then go to another doctor to get the cure
A car repair, you go to 1 mechanic who looks at it, writes a report, and says good bye. You then go to another mechanic to get it fixed.

This is the one to force onto. You go to a lender to get qualified and say good bye. Then you go to another lender to do the loan.

Something is amiss here. In my conspiracy belief why the split all of a sudden. Now think about this. The appraisal process is being split into inspection and appraising. Now fannie surely wants to be doing the appraising itself, which that part is ready to go.

But the missing part. Once there is an abundance of inspectors, that fannie feels comfortable with the results, the appraising part will become avm. Goodbye the separated appraisers from the appraisal process. Fannie don't have to say a word, the work will slowly disappear as fannie feels more confident with it's own system.

But again, i think there will be some need for a small group appraisers, but it will only be the few who survive. Then we become professions again with a profession fee. That is, if fannie doesn't start selling it's avm to the public.

 

[J Grant]

Oh, last year one AMC let me do a desktop assignment. They load all subject information on their website , no picture, no sketch, with about 10 comps there. The only things I have to do is to double verify the subject characters with MLS and public record, SELECT 3 or 5 comps from THEIR list. I can't add / replace any comp from their list, then do the grid adjustment on my own. Only $200 fee. When I was working in the middle, their system is frozen and crashed. Then, cancelled this order. End with I didn't get any penny. That's why I am wondering what's the difference between desktop and hybrid?

I already posted it here; a hybrid is on a 1004 or 1073 form ( software) .

 

[J Grant]

Its true the PDC is a disinterested party in most cases, but without liability there is also a lack in interest in doing a good job and/or reporting anything negative that might require more work.

The PDC is a third party, but they are not vested in it -.

I assume most of them will do a decent job. However, it is not possible to check their measuring or know if they forgot or decided not to take photo X. The real problem is , it cuts the appraisal off from inspecting the subject of their own appraisal - which is also the site, the noise aspect, the placement within a community, talking to owners or neighbors or builders or a RE agent on site to get information, and driving the comps to get a first-hand impression of them.

This fast food system splits an assignment for "efficiency" ( which it doesn't accomplish) . What it does accomplish is cutting appraisers off from the field where they get field experience and market knowledge. It makes appraisers disconnected from the physicality of what they are appraising. It also means that some appraisers inlduing AMC staff appraisers will do the desktop portion of the appraisal far out of their geo competence area-.

 

[Carnivore]

There are some amongst us that say we can gain geo competence by viewing online different sources, Such as MLS Mapping; Google Earth..etc

What we don't know are things like a City Council approves ramp opening to a major feeder road.

But it doesn't matter because these assignments are focussed on Loan Risk analysis. Our Input is just one metric. Credit is king Collateral is 2nd fiddle. You can switch that around based on a specific borrower, His Credit is lor income is ess optimum so much so that a 1004 is going to be needed.

So this is a lender decision. Then throw in FNMA metrics that indicate a low risk hood with lots of sale...Stated value or other things.

bottom line is, as data gets better and better our usefulness diminishes.

So here is an important question. Do our report development aka Standard one lessen? I say no. How about standard two? I say no. We still have to be credible.

So why are any of you completing desktops assignments for Chump Change. Think about it this way. Standard sow 1004. Let's say your fee is $500. After the 1004 inspection and your on your way home, you get a call on your cell from lender canceling the assignment. They ask what is your fee? You answer with $150.

OK. 500 fee - minus $150 Trip Fee = $350. So $350 is the meat part of your assignment done at your desk.

So next day you get another assignment in the same area but it is a desktop. Since your drive time two and from yesterdays was valued at $150

This means to me you desktop assignment should pay you $300-$350.

So why am I reading here and other forums appraisers are being paid anywhere from $100-$150 for a desktop? The most important part of an appraisal assignment?

Just asking or looking for the rational. i.e 1. Saving time! 2. Saving wear and tear on your vehicle! thats a bigee! 3. Lower Car Insurance rates

Still missing money here? The numbers are not adding up.

 

[Tom D]

This fast food system splits an assignment for "efficiency" ( which it doesn't accomplish) .

Yea, yea. Works for us like that to. Now fast food have a touch screen, or a robot, doing the work for efficiency.

Avm being the next robot to save efficiency. Lenders already have the touch screen ordering system.

 

[chad hampton]

If it's a realtor doing the appraisal inspection, they are not a disinterested 3rd party. It's in their financial interest for property values to keep going up. Why not make things look as good as possible.

 

[djd09]

could someone give one name of these so called property data collectors...besides paschal...don't see the name police whining about that