Hybrid Appraisals

[Surf Cat]

"This is how the homeowners should treat the unlicensed, uninsured, PDC and not invite them in."

Are you sure, no license or insurance required....

Yup....get in while the getting is good UC. You can state that you used to be a licensed appraiser and you'll be in like Flint.

The PDC is the better deal of the hybrid. If you can fanagle $50 - $75 per data collecting.....that's way better than the $125 to write the report and shoulder all the responsibility....that Justin dude is out of his mind on that $350-$450 per. It's a $125 max in Cali.....

 

[Bobby Bucks]

Appraisers could sit at their desk with a queue of PDCs ready to go and complete 3-6 hybrids a day. At $350-$450 per, they were making good money and we had many say they didn't want anything but hybrids.

What absolute nonsense. This is why no one takes the carnival barker pitch of this product seriously. $262,500 - $675,000 per year without leaving your office. Once more I have to wonder this..... if this opportunity is so wonderful, why are they in an internet forum on a Saturday begging people to perform them?

 

[shrubberyvaluation]

Yup....get in while the getting is good UC. You can state that you used to be a licensed appraiser and you'll be in like Flint.

The PDC is the better deal of the hybrid. If you can fanagle $50 - $75 per data collecting.....that's way better than the $125 to write the report and shoulder all the responsibility....that Justin dude is out of his mind on that $350-$450 per. It's a $125 max in Cali.....

Maybe its $350-$450 in one area with a severe shortage of appraisers during only the busiest month during Covid.

 

[shrubberyvaluation]

What absolute nonsense. This is why no one takes the carnival barker pitch of this product seriously. $262,500 - $675,000 per year without leaving your office. Once more I have to wonder this..... if this opportunity is so wonderful, why are they in an internet forum on a Saturday begging people to perform them?

I can tell Justnjla is not an appraiser. With such money making potential why is he working for FNMA instead of getting a license and doing hybrids all the time? Sounds just like all of the get rich quick scams.

 

[djd09]

I can tell Justnjla is not an appraiser. With such money making potential why is he working for FNMA instead of getting a license and doing hybrids all the time? Sounds just like all of the get rich quick scams.

excellent point...why isn't DW quitting and doing hybrids

 

[J Grant]

The appraiser's SOW on those is a desktop appraisal. Not a conventional 1004 appraisal where they're not inspecting and are not driving any of their comps. I don't know why you would take exception to the "desktop" characterization when it's 100% accurate.

IMO the GSEs should have used a visibly different format form and form number for them so that appraisers would stop conflating them with the conventional 1004 as if any of the users would think they're the same thing.

It is the same 1004 in both cases - the only difference is that in one, the appraiser inspects the subject, and in the hybrid version, the CDC person inspects the subject.

I did not bring up desktops; you did. I personally did very few desktops, and most independent fee appraisers have only done a handful. The res lending the destkops I am ware of are low-paid quick-turn-time, short-form products. I assume staff appraisers might do a volume of these? I have no idea, I do know that as a fee appraiser from time to time an offer would come to do them for cheap fees with a bizarre turn time estimate of 30-45 minutes - the few I tried took me 3 hours and I never did one again.

A desktop is a low bar product one assumes is for a specific use on the client end .

 

[Non Sequitur]

What absolute nonsense. This is why no one takes the carnival barker pitch of this product seriously. $262,500 - $675,000 per year without leaving your office. Once more I have to wonder this..... if this opportunity is so wonderful, why are they in an internet forum on a Saturday begging people to perform them?

It's what happens when you operate in an echo chamber. It will never matter how many times boots on the ground appraisers tell or show them what their AMC partners are doing in the real world, they only believe what they hear from AMC lobbyists over coffee.

 

[Non Sequitur]

Prevalence of GSE Appraisal Waivers

The use of appraisal waivers at the GSEs has exploded in recent months and now accounts for over 40% of all valuations.

www.aei.org

 

[shrubberyvaluation]

It's what happens when you operate in an echo chamber. It will never matter how many times boots on the ground appraisers tell or show them what their AMC partners are doing in the real world, they only believe what they hear from AMC lobbyists over coffee.

I hope they get something stronger than coffee. You can tell me all day that although your AMC partners are unethical that they are on the up and up when they are working with you, but no one will believe it.

 

[J Grant]

I can tell Justnjla is not an appraiser. With such money making potential why is he working for FNMA instead of getting a license and doing hybrids all the time? Sounds just like all of the get rich quick scams.

I know, like what appraiser would have a queue of hybrids lined up for them to do ? (unless they are on staff working like a hamster on a treadmill)

He keeps brining up that once in acentry very busy period covid low interest cycle - most of the time, even if moderately busy, the assignemts come in with gaps in between them and there will not be an increase in overall orders - so if an appriare used to do 6 a week in a moderaly busy cycle, now they might do 3 hybrids making half the former fee and 6 tradinaon appraisals - they are losing money on the hybrids no way an AM<C ( who mostly orders them ) will pay $400- $500,ore like tee shop to find an praise to do it for $250 .

And in a slow cycle, esp with WAIVERs poaching a portion of th ebusienss, if the appraiser gets 3 orders a week and 2 of them are lower fee hybrids do the math on how it affects income. Even if one does the random PDC inspection for extra income for a whopping $75 fee -