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I am not doing the 3.6 FORM deal

Terrel L. Shields said:
You couldn't do what I do with a simple Word Processor. Sorry. You are just a shill for Total....and could use a grammar program... I mean it is So, throw away... not So throw away...
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I am certain many on this forum would not be able to do the assignments you perform credibily or competently. I have no doubts. I am in that crowd. I could do them but God I would have to retire with you and go to work doing something else. It would take forever to get competent in some of the assignments you do. I could get there but I would be better off being a greeter at Walmart.

Cough, cough. I forgot you don't do GSE work. Smile just for you. :)

I can see it now. Yes, I can do it. I need $4K and travel expenses up front. I can do it. I need 4 week turn time. My customary procedure is 1/2 up front and I will send bill on travel expenses.
 
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Fernando said:
It's up to the client/lender. All of my clients still require it. Ugh.
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I meant later in the new 3.6 format, idk if it will be there or not, I will ask ALAMODE at some point.
 
I can speculate travel expenses on a long assignment. Engagement letter like 1/2 up front (if I don't know client) and travel expenses not to exceed $XyzX.

Work does not begin until signed engagement letter received with other terms and conditions.
 
There is one thing I’m actually looking forward to with regard to the new UAD form that isn’t a form. Before I got into real estate, I used to sell advertising, radio and magazine and got to know a lot of reporters. This was during a more civil time when there wasn’t a political divide like there currently is and I got to know some of them quite well. In short, my plan is this, a few months before the train wreck I’m going to contact a few of them and let them know what’s about to happen. They won’t give a tinker’s damn about appraisers making less and working harder, but they will care about borrowers having to pay more just to make GSE royalty happy. One guy currently works for NPR and rest assured, when they get the scent that an individual citizen is getting screwed by the big banks and GSEs, they’ll unleash their dogs of war. I can’t do anything about the atrocity they’re about to unleash, but I will dearly love hearing those haughty nasal voiced NPR people unloading on the GSEs. :-)
 
Airstream said:
I just read on Marketwatch that nearly 900,000 homeowners are underwater on their mortgages, signaling a troubling shift in the housing market.
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Sold mom's house after she passed two years ago in Pt. Charlotte FL for $265,000, only 3 houses for sale in a mile radius from her home. Today, for that same $$, you can get a much larger and updated house, and have 40 houses from which to chose. Even zillow says its value now is approximately $215K. The borrowers were FHA and they borrowed another $15K (cost them nearly $5K in fees for the $15K) for their downpayment and closing costs/prepaids. $280K loan balance, worth $215K. A lot of people that bought in 2021-2023 will soon be in for a rude awakening.
 
I crack up at the commercial guys thinking AI can't do a commerical appraisal. It will be just like residential... Go collect data for a fraction of current pay and AI will do the appraisal
 
Essexfenwick said:
I crack up at the commercial guys thinking AI can't do a commerical appraisal. It will be just like residential... Go collect data for a fraction of current pay and AI will do the appraisal
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It's already helpful for the narrative (area writeups, etc) and free-form things like that, deep web research. But it's not going to be able to "do" the appraisal. The comp selection alone is extremely complex and data often proprietary. Also, a lot of people are conflating "AI" with standard algorithms, finance math and public data integrations that have been around forever - a lot of the commercial appraisal and CRE software already "does" a lot of the math if you plug the data in and and data is good, no "AI" needed for that. I've got both "the degree" in real estate and extensive software development experience - not only am neck-deep in using AI, but also implementing solutions with it every day - and it's not close to replacing appraisers for either residential or commercial options of value despite what some people claim.
 
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