Hybrid Appraisals

[Terrel L. Shields]

the unethical stakeholders have made housing unaffordable

Why do you think the counties and schools were thrilled with the Covid lockdown and subsequent huge jump in property prices. It means the county coffers will be flush with cash and they will quickly spend it rather than turn it back to the taxpayer. Even with caps on the rise in prices (5% here) it means annual pay raises of 5% into the next decade from this one single event. Every person who overpaid for property in 2021-23 should be singled out and slapped a 100% property tax increase for their stupidity. It hurt everyone and helped no one but flippers, bankers, and government.

 

[George Hatch]

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-

I'm not disputing the Pareto principle. I'm just saying that calling someone a liar for commenting on how many there are isn't a persuasive argument when what they said is actually the fact.

Allegedly, the largest AMC does less than 5% of the business, and the next 4 are doing far less than that. If anyone actually cares about objectivity.

It's an evil world out there. IRL your peers aren't responding to the calls to honor a picket line, and your clients aren't responding to the calls to ignore the principle of substitution.

 

[djd09]

and what percentage does revaa control... 15th st slimbags

 

[George Hatch]

LOL.

If REEVA or any other entity had what it took to "control" the level of competition in the AMC business they would have accomplished what the fee appraisers are entirely incapable of accomplishing for themselves. Which, BTW is an objective observation of the facts, not "advocacy" for the outcome which to date has been the result of those facts.

 

[djd09]

im sure they are also paying sponsors...right, frank?

 

[J Grant]

I'm not disputing the Pareto principle. I'm just saying that calling someone a liar for commenting on how many there are isn't a persuasive argument when what they said is actually the fact.

Allegedly, the largest AMC does less than 5% of the business, and the next 4 are doing far less than that. If anyone actually cares about objectivity.

It's an evil world out there. IRL your peers aren't responding to the calls to honor a picket line, and your clients aren't responding to the calls to ignore the principle of substitution.

Allegedly is the key, the person alleges offers no hard figure proof ot it, here, and experience of nearly every appraiser on the board who does res lender work says otherwise. I am familiar with the AMC landscape to some degree, having worked with them post-HVCC for two miserable years, and then spent years and a big chunk of my own savings rebuilding my business away from them.

 

[Zoe]

Some appraisers have also written their state representatives on lost tax income to the State on commingling of fees on truth in lending disclosures and things like out of State appraisers.

Appraisers are just not united.

Take NAR for example. NAR is united.

 

[Zoe]

You would think TAF or ASC could help with united, but that is ............well I can't curse on the forum.

 

[J Grant]

LOL.

If REEVA or any other entity had what it took to "control" the level of competition in the AMC business they would have accomplished what the fee appraisers are entirely incapable of accomplishing for themselves. Which, BTW is an objective observation of the facts, not "advocacy" for the outcome which to date has been the result of those facts.

What kind of word salad is this - I have no idea what you are trying to say, except that the tone disparages appraisers-

Of course fee appraisers can not accomplish overcoming the leverage of AMC's!! That is the problem in a nutshell. How can low resource, independent fee appraisers possibly withstand the billion dollar worth AMC;s with lender and GSE backing, with the einfunee to change regulations ( you did comment well on that wrt the second fee survey added to the original AMC HVCC which was the death knell of C and R for AMC orders ) and the leverage of bulk volume orders, after Appraosers were cut off from their own lender clients post HVCC -when it was forbidden ttht individual loan officers order teh appraisal. That narrowed effeicve demand to a small number of players so the neeormal supply and demand on the commerical and private side of appraisals does not exist, and th normal supply and demand in the rest of the business world does not exist.

 

[J Grant]

Some appraisers have also written their state representatives on lost tax income to the State on commingling of fees on truth in lending disclosures and things like out of State appraisers.

Appraisers are just not united.

Take NAR for example. NAR is united.

Appraisers are independent contractors and can not be united. Even if by some miracle at this late date if we could accomplish "uniting", we are not funded by billions or even millions and thus can not hold out against the well funded and backed AMC's - the only way it would change is if a massive anti trust or similar lawsuit was to be had or if regulairtons elimintatd appraisals from the HUD fee bundle. Neither of which is highly likely, thus we see an exodus of appraisers, wthi a number remaining running out the last few years on our license. Taht is why PAREA is a dud - what younger person in tehri right mind would sign on for a low-pay career on the residential side? Some were naive and finished the course and are finding out the hard way - sorry to bear depressing news .