Is appraising a good career?

[Mike Boyd]

Catherine should have included that she is a reporter for the Los Angeles Times working on a story about private and public appraisers, their incomes, life styles and retirement hopes.

Ya gotta tell the whole truth in here, Catherine, otherwise we will classify you along with shady mortgage brokers and sneaky real estate agents.

 

[catherines]

Catherine should have included that she is a reporter for the Los Angeles Times working on a story about private and public appraisers, their incomes, life styles and retirement hopes.

Ya gotta tell the whole truth in here, Catherine, otherwise we will classify you along with shady mortgage brokers and sneaky real estate agents.

I'll give you that, Mike. I was hesitant to provide full disclosure to avoid getting scooped on my story! I'm guessing that professional appraisers aren't the only people reading these forums...But yes, Mike is absolutely right. I'd love to interview California appraisers (active or retired) about the pros and cons of the biz...Please call me at 805-653-7552. And thanks for all of the previous posts. I'm impressed by your generosity and support.

 

[TC]

Well, wouldn't you know it, we were fooled by an ink stained wretch! Hey, at least her spelling/grammar were good.

TC

 

[Ultraviolet]

Hmm, posted under "media question and answer" and "I'm doing a story on" ... where's the confusion?

 

[Bill Baughn]

Hi y'all...I should explain: I need to talk to someone who still lives and works in California, or spent his of her career in California, because I am comparing with private v. public appraisers' retirements. It's hard to compare a California government appraiser's pay and bennies with a private-sector appraiser in Nevada. No dis intendeded for out-of-staters!!!

I retired the minute I became an appraiser. Been doing it for over 20 years now but the last few years have sucked. Really upseting to think I may have to get a real job...

 

[Doug Meyer]

I retired the minute I became an appraiser. Been doing it for over 20 years now but the last few years have sucked. Really upseting to think I may have to get a real job...

Bill, what are you doing on this site?? BO been slow?

 

[kim grant]

Catherine,

Don't let this group intimidate you -- their mannerisms come from long hours of intense analysis and report writing that is well thought out and often thrown back in their face as "useless" for the loan amount needed that makes some appraiser's enternally defensive when questioned on just about anything regarding appraisal

I will try to answer your q -- I have been independent for over 20 years, income level improved steadily over the years and is quite comfortable despite the cost of living in CA. As I gained more experience and am regarded as "good" appraiser in the community I get offered management positions from time to time. The salary (although still comfortable for CA living) is substanially less but they do offer full benefits and usually a nice 401k plan with matching contributions -- so it's a trade off. As I get older the nice salaried job with benefits starts to look better and better but honestly, if an appraiser is in this business 20-30 years, they are well established and earning a good income and the difference between private and public sector income would be benefits, continuity of income stream, employer contribution to SSI (self employed appraisers pay 7.5% more in social security in the form of self employment taxes) and a matching 401k program can't be compared to anything a private appraiser can invest in and there is the convenience of having someone else manage the portion of your income that is set aside for retirement. If an indenpendent private appraiser is disciplined enough to invest for retirement, given all factors, I think the end result would be the same due to the variance in income levels.

Hope this helps---

Kim

 

[Mountain Man]

I don't know of an appraiser who has retired from appraising. All of the older appraisers I know, since retired, made a gradual move away from appraising into something else real estate related. Some started investing in income properties, and now do nothing but manage their investments. One I know started buying and flipping small tract of land, now does nothing but buy and broker large land and forestry tracts. Know of another who now is a developer and builder. Then of course there are several who are in a management position for a large lender or consulting firm, and will end there.

 

[Offshore]

Once again I see appraisers giving away information for free. M Leggett's answer was best, I wonder if he'll invoice her.

 

[Mike Boyd]

Is it something you can do for 20-30 years and end up with a secure retirement? If you're interested in sharing your story, and you live in So. California, please contact me. Thanks,

Catherine S.

Robert says your name is Kay.

When is the article coming out and where can I find it other than the LA Times?

Mike Boyd