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I Feel The Tough Times Coming On

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Stephen A. Santini

Sophomore Member
Joined
Jun 23, 2003
Professional Status
Appraiser Trainee
State
California
Hello to all out there in appraiser land. I've been a licensed trainee in CA. for about three months now. I've spent around $7,500 between schooling,test and office supplies(computer,software,fax ect...) I found this great mentor so Im feeling pretty good about my ability to work. Now the interest rates go up, re-fi's slow WAY down and I hoping that I will be able to make a living here in the comming months. I was with a big company for 17 years when (while I was recovering from a major knee surgery) they elimenated my position. So I've put a lot of my eggs in the appraisal basket. Not looking too good right now. I really hope that Im not out pounding the pavement for a minimum wage job after all of these great expectations of becomming a succesful appraiser. Im not going to throw in the towel yet though. I've been contacting potential clients both locally and far away trying to "get on the list". I just hope that things do go totally in the toilet from here on out. Good luck to all of you.
 

Steve Gish

Sophomore Member
Joined
Apr 28, 2003
Kind of disheartening isn't it. My first 4 weeks of job hunting, everyday I heard "I'm too busy to train anyone right now". The last two weeks it's been "my work load disappeared and I can't share what little I have." <_<

I'm ready to attatch myself to the first "warm body" who'll spend 2 days a week with me and feed me 3 or 4 a month until I get my own.

Luckily I have small pension to survive on until something get's going.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I shudder to think of all the folks who lost their jobs within the past couple of years and were counting on the appraisal field to be their next career move. For the overwhelming majority it will turn out to have been a waste of time and money.

Depending on how much and for how long the slowdown continues, it think it could get scrappy among those who are already established too.
 

Walter Kirk

Senior Member
Joined
Jun 24, 2003
Professional Status
Licensed Appraiser
State
New Jersey
Stephen,
Work volume has slowed and in areas where lots of people decided to become appraisers to service the re-fi market it may become tough to find any work at all. The up side of this situation is that there were appraisers making a decent living before the recent rush and there will be after the rush.

You may have to do something else in addition to appraisal until you develop a stable practice. Consuder related fields like real estate sales, title work, property managment or mortgage sales. If you are determined to be a career appraiser you may have to sacrifice a bit.
 

Robert Faber

Freshman Member
Joined
Aug 14, 2003
I've been bartending weekends, even through the boom, and making more money than as an unlicensed data researcher (though I have my limited license now). I use to like bartending a lot; sleep in late, easy money, good way to meet women, live entertainment and televised sports, all while getting paid. It's not something I want to do forever; working every weekend for several years in a row has its drawbacks. But any slow down and I'm still able to quickly make an extra $300/week part time. Recessions don't seem to cut into people's beer money (and in some cases, well...).
 
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