I am not doing the 3.6 FORM deal

[alebrewer]

According to Brian Zitin, there have already been several thousand appraisers signing up to perform the hybrid appraisals for Reggora's Platinum Panel group (the folks that will be doing the 24 hour appraisals). If that's really the case, I doubt they'll be sweating too much - other than if the technology isn't ready when they are...

 

[Non Sequitur]

You forgot LiDar

Correction, LieDar.

 

[cashcatz]

I have a preview of the new Appraise-It Pro from SFREP that has all the old forms and UAD 3.6 (we're working on an integration for Appraisal Inbox). My background is commercial, so maybe I'm not the best judge - but the software is snappy even on an old Windows laptop. While there's a lot of fields, they are dynamic meaning you don't fill every one and has select lists and there seems to be ability to save them as a template. I personally think the fonts and layout of the new forms are a huge improvement. From what I can see so far, it's not nearly as end-of-the profession as some are making it to be. Most will have the new form figured out in a week. Also, SFREP folks are very nice, are appraiser-first - check them out, they have a good switching deal and are cost effective.

 

[J Grant]

According to Brian Zitin, there have already been several thousand appraisers signing up to perform the hybrid appraisals for Reggora's Platinum Panel group (the folks that will be doing the 24 hour appraisals). If that's really the case, I doubt they'll be sweating too much - other than if the technology isn't ready when they are...

When they asked me several months ago I was interested in doing them I wrote back yes, since I figured I had nothing to lose.
Last week, they sent me an invitation to join their "platinum" panel for 24 hours and after weighing it, I decided not to sign up. There is too much time pressure to be able to verify or research - a hybrid is a full appraisal with the inspection side outsourced.

Good luck to those who want to do them - the liability is the same as for extended time, but the risk is increased on the appraiser side. h

 

[cashcatz]

Correction, LieDar.

Ha, I put that term out there with the Appraiser 8800 meme. But I do still think LiDar is neat tech and has a future as a useful tool if implemented correctly.

 

[Airstream]

So I have done a PDC on a decent size home. I got $250 to do it. It was both an interior and exterior data collection. I used the PDC data collection app from the company that ordered it. I was at the property for 2.5 hours. It used the floor plan drawing program. I simply used the IPHONE camera and scanned the exterior and interior walls. Very tedious. This is what I found: It took about 1.5 hours longer to do the inspection than if I would have done it on the Total Mobile App. The workflow was horrible. If we have to use LieDar to make floor plans that is going to take more time; no question. It could simply be the way the program was set up, but it was not a very good process. I hope Total will have a better approach or those using it will be frustrated big time!

 

[J Grant]

Just because one uses total mobile app for photos or data, does not mean one also has to use Lidar for measuring for an appraisal-I have not heard of a requirement for the appraiser to use Lidar.
I understand that for a PDR collection, Lidar is required.

$250 for a PDR is a good fee - I have heard fees averaging $75- $125 range. Those fees are subpar considering the delivery pressure, drive time, gas cost, and attention to detail needed. I assume a high turnover rate in PDR collectors.

 

[Airstream]

Just because one uses total mobile app for photos or data, does not mean one also has to use Lidar for measuring for an appraisal-I have not heard of a requirement for the appraiser to use Lidar.
I understand that for a PDR collection, Lidar is required.

$250 for a PDR is a good fee - I have heard fees averaging $75- $125 range. Those fees are subpar considering the delivery pressure, drive time, gas cost, and attention to detail needed. I assume a high turnover rate in PDR collectors.

Yes, the fee was acceptable. I would do them all day for that kind of fee. However, I had one company ask me to do it for $75. I told them forget it. The one I did for 250 was a rural property and was a bit more difficult due to outbuildings. I would do an interior for $175 if it was just a basic urban suburban house. In that case about 1.5 hours is about all the time needed. I will do exteriors in town for $75. I would just combine it with a trip I’m already making. Those are basically a drive by. Doesn’t take long at all. Anything rural the fee goes up depending upon how far from my house. I don’t get very many requests due to my fees. So there has to be people doing them really cheap. My guess is a lot of poor and desperate real estate agents are getting these things.

 

[J Grant]

The hybrids and outsourcing of PDR is horrible for appraisers. $250 a rare good fee because it was rural- but if you had this assignment for the whole appraisal instead of a section of it - what would your fee have been? $600? Whatever it was, it would have been it would be a lot more $ than for doing just the PDR.

The reason for opening the floodgates to non-appraisal licensed people for the PDR is so there would be a large supply of warm bodies - anyone can take a short training class and run out for a $75-$125 fee .

 

[Airstream]

The hybrids and outsourcing of PDR is horrible for appraisers. $250 a rare good fee because it was rural- but if you had this assignment for the whole appraisal instead of a section of it - what would your fee have been? $600? Whatever it was, it would have been it would be a lot more $ than for doing just the PDR.

The reason for opening the floodgates to non-appraisal licensed people for the PDR is so there would be a large supply of warm bodies - anyone can take a short training class and run out for a $75-$125 fee .

Yes, my fee on this would have been about 600. My guess the property value would have been in the 500,000 range.

The untrained eye doesn’t see is considerable. I took the “PDR training class.” It was a joke. No one is prepared to do inspections from that class. For example it doesn’t teach anything about wells and septic systems. I don’t know how many times I have come across illegal wells in pits or basements or septic systems that are near end of economic life and probably wouldn’t pass an inspection.

The irony of this is I can’t send out a trainee to do an inspection for a Fannie/Freddie loan, but they will accept a PDR trained person that has zero supervised experience.