Hybrid Appraisals

[CGinMN]

Love it! That's just not the way folks I've worked for have interpreted the guidance.

IMO, that's because conservative interpretations provide job security. Also, larger institutions will set their bar, and their AMCs must comply, and that quickly becomes the standard or threshold for other lenders. It is like the 12-page engagement letter. One large client that requires interior photos of the shed, it is just easier for the AMC to require that on all appraisals.

 

[alebrewer]

IMO, that's because conservative interpretations provide job security. Also, larger institutions will set their bar, and their AMCs must comply, and that quickly becomes the standard or threshold for other lenders. It is like the 12-page engagement letter. One large client that requires interior photos of the shed, it is just easier for the AMC to require that on all appraisals.

Possibly. Groups that have meaningful compliance departments (which usually means the larger lenders) tend to be more conservative - probably because they know they're on the radar.

 

[Surf Cat]

Let's have a come to Jesus type moment and that it's about money. If you got paid full fee to sit at your desk and just do the valuation portion and write up the report you would be all in .

Well, yeah......the "valuation" part of the appraisal is the bulk of the work. What do you think is the percentage of the subject inspection? Excluding driving the comps, because PDCs are not required to do that. 10%?

Now let's look at driving and curbside inspection of the comps. This will include combing the MLS for the subject's competitive sales. 20%?

$500 appraisal fee -30% = $350. So yeah, I'd do them for $350 in my pajamas. But here in CA......it's $100.00 to $125.00. Throw in that the AMC's somehow think these can be done in an hour..... that's like saying that 6 ft is the magic number to distance yourself from someone who has covid. It's stupid.

Lastly, there's that dead balls on accurate number that's required on the appraisal..... without seeing the subject, without driving the comps. Just like a drive-by assignment, I'm not going to opin at the high end of the range without personally seeing it. Do you offer full asking price on a used car without driving it?

Of course my conservative attitude to Hybrids would be pelted with ROV's.

Bottom line is appraisals are simply not a valued service.

 

[djd09]

Shocked by your Nashville property tax reappraisal? Don't panic, what homeowners should know​

Notices were sent to to Metro homeowners on April 18, alerting them of the change in their property value as well as how to appeal, should they disagree with the new values. Across Davidson County, property values increased by an average of 45% — setting a new record-high for the second time since 2017.

Shocked by your Nashville property tax reappraisal? Don't panic, what homeowners should know

Did you recently receive your home's new appraisal value? Don't panic just yet — an increase in your appraised value does not necessarily mean your property tax bill is going up.

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dont worry about hybrids...the unethical stakeholders have made housing unaffordable...and still there is no petition for value pressure

 

[chad hampton]

Used to lose 1 small client. Now you come in low, you lose a company that's probably operating in the 5-15% market share space.

Saw the guy from regorra on linkedin saying his company will process 15% of all US appraisal volume this year.
Remember when our local GSE guy stated appraisers have 100's if not 1000's of potential clients?

Damn, these guy are world class liars. I have to give them credit for that. Damn morals and ethics just don't allow me to lie like that.

 

[glenn walker]

Well, yeah......the "valuation" part of the appraisal is the bulk of the work. What do you think is the percentage of the subject inspection? Excluding driving the comps, because PDCs are not required to do that. 10%?

Now let's look at driving and curbside inspection of the comps. This will include combing the MLS for the subject's competitive sales. 20%?

$500 appraisal fee -30% = $350. So yeah, I'd do them for $350 in my pajamas. But here in CA......it's $100.00 to $125.00. Throw in that the AMC's somehow think these can be done in an hour..... that's like saying that 6 ft is the magic number to distance yourself from someone who has covid. It's stupid.

Lastly, there's that dead balls on accurate number that's required on the appraisal..... without seeing the subject, without driving the comps. Just like a drive-by assignment, I'm not going to opin at the high end of the range without personally seeing it. Do you offer full asking price on a used car without driving it?

Of course my conservative attitude to Hybrids would be pelted with ROV's.

Bottom line is appraisals are simply not a valued service.

There's value just not the price you want to get paid. I tend to think the user's or let's say buyer's of MB security's place little weight anymore in their risk reward analysis because unlike 40 year's ago the appraisal on high LTV loans doesn't matter if it's within the 1% to 3% variances that a good AVM or a desktop can produce.

 

[George Hatch]

Used to lose 1 small client. Now you come in low, you lose a company that's probably operating in the 5-15% market share space.

Saw the guy from regorra on linkedin saying his company will process 15% of all US appraisal volume this year.
Remember when our local GSE guy stated appraisers have 100's if not 1000's of potential clients?

Damn, these guy are world class liars. I have to give them credit for that. Damn morals and ethics just don't allow me to lie like that.

Liars, huh?

Have you ever looked at the list of AMCs that have registered with your state? That list includes current and expired or closed, but either way the list of AMCs with current status is a lot longer than 20 companies.

I counted 32 "Current" status just among the companies with names starting with "A". And I believe they have to pay fees to renew every couple years, so I doubt most of them are maintaining their registration just for the fun of it.

Check it out

The North Carolina Appraisal Board welcomes you to its Web site

 

[glenn walker]

Liars, huh?

Have you ever looked at the list of AMCs that have registered with your state? That list includes current and expired or closed, but either way the list of AMCs with current status is a lot longer than 20 companies.

I counted 32 "Current" status just among the companies with names starting with "A". And I believe they have to pay fees to renew every couple years, so I doubt most of them are maintaining their registration just for the fun of it.

Check it out

The North Carolina Appraisal Board welcomes you to its Web site

Lighten up he only counted the ethically and morally approved AMCs. The others are liars- crooks-- unethically challenged and godless creeps. Lmao

 

[djd09]

Liars, huh?

Have you ever looked at the list of AMCs that have registered with your state? That list includes current and expired or closed, but either way the list of AMCs with current status is a lot longer than 20 companies.

I counted 32 "Current" status just among the companies with names starting with "A". And I believe they have to pay fees to renew every couple years, so I doubt most of them are maintaining their registration just for the fun of it.

Check it out

The North Carolina Appraisal Board welcomes you to its Web site

Here’s how CSS Selects the Best Appraiser:​

We rate each appraiser on every assignment based on turn time, responsiveness, quality, and order declines.

We also take into consideration current appraiser workload and turn times, geographic competency, certifications, and lender’s preferred or approved lists of appraisers.

eappraiseit is alive and well...

 

[J Grant]

Liars, huh?

Have you ever looked at the list of AMCs that have registered with your state? That list includes current and expired or closed, but either way the list of AMCs with current status is a lot longer than 20 companies.

I counted 32 "Current" status just among the companies with names starting with "A". And I believe they have to pay fees to renew every couple years, so I doubt most of them are maintaining their registration just for the fun of it.

Check it out

The North Carolina Appraisal Board welcomes you to its Web site

HEre you are, batting for the other team as usual. Good track record of disparaging appraisers!

The reality is that if, for example, 80 AMC's are registered in a state, a small percentage of them , 20 at most, have volume, and 5 or 6 can have the bulk of volume. A small AMC 's can givie out as little as one order a year in a region. But they all take a chunk of the borrower appraisal fee so they all stink, but giving control of volume orders to a small number gives them enormous levearge-