Is FHA all that remains?

[Mile High Trout]

FHA means never getting evicted these days.

 

[Bobby Bucks]

Since FHA assignments typically come from lenders/clients, those lenders usually make conventional loans as well. Is it possible that you got pigeonholed as the FHA guy ? Perhaps contact these clients ask if they have other work, list your qualifications etc.

H

That isn't this case this time, however, I did have that happen once in the previous century. A little birdie with a mortgage company informed me that they were assigning me the "dog" properties, ie. run down tenant occupied, extreme rural built 100 years ago etc. A relative of one of the owners got all the cream puff orders. I'm sure that goes on with many lenders.

 

[Bobby Bucks]

Thanks for the replies, my paranoia, anger, depression and class envy has only increased.

 

[Terrel L. Shields]

they will blame the appraisers who had to do all the high LTV appraisals

they were assigning me the "dog" properties,

Since waivers et al are now doing just the "easy" cookie cutters, appraisers no longer get many assignments that are not rural, unique, older, shabbier places and require a lot more work. In fact, I would think in the old days the easy one kind of offset the hard ones so it evened out. But if you only get the dogs - well, you understand the problem. The argument that technology means appraisals were harder before all these tools...that's why you should work for the same price as you did in 1995. Of course, that is garbage. The average home today is far more complex and the average assignment is easily twice as hard to do back in the days when you were doing entire subdivisions of literally left-hand and right-hand versions of the same floor plan. All those places now have been added on with all the issues such remodeling brings, and new homes have 40 different roof slopes, unique items like commercial fridges built into the walls, remote controlled ceiling fans, entertainment centers, diorite countertops and gone are the days of the 3 bed 2 bath with galley kitchen. You have a library, an office, theater, and recently I appraised one with a handball court inside. How the **** do you value that? And it had a sort of balcony with a shuffleboard table - and on the same level a kitchenette for fixing snacks.

 

[Zoe]

Since waivers et al are now doing just the "easy" cookie cutters, appraisers no longer get many assignments that are not rural, unique, older, shabbier places and require a lot more work. In fact, I would think in the old days the easy one kind of offset the hard ones so it evened out. But if you only get the dogs - well, you understand the problem. The argument that technology means appraisals were harder before all these tools...that's why you should work for the same price as you did in 1995. Of course, that is garbage. The average home today is far more complex and the average assignment is easily twice as hard to do back in the days when you were doing entire subdivisions of literally left-hand and right-hand versions of the same floor plan. All those places now have been added on with all the issues such remodeling brings, and new homes have 40 different roof slopes, unique items like commercial fridges built into the walls, remote controlled ceiling fans, entertainment centers, diorite countertops and gone are the days of the 3 bed 2 bath with galley kitchen. You have a library, an office, theater, and recently I appraised one with a handball court inside. How the **** do you value that? And it had a sort of balcony with a shuffleboard table - and on the same level a kitchenette for fixing snacks.

But you don't live and work in areas that have tons of cookie cutters. Does FHA even accept some of this stuff out on appraisals?

I ask sincerely. I really don't know. But I know how rural Arkansas is in many areas. Cookie cutters are like a Christmas present in TN and AR.

 

[azbassman21]

Since waivers et al are now doing just the "easy" cookie cutters, appraisers no longer get many assignments that are not rural, unique, older, shabbier places and require a lot more work. In fact, I would think in the old days the easy one kind of offset the hard ones so it evened out. But if you only get the dogs - well, you understand the problem. The argument that technology means appraisals were harder before all these tools...that's why you should work for the same price as you did in 1995. Of course, that is garbage. The average home today is far more complex and the average assignment is easily twice as hard to do back in the days when you were doing entire subdivisions of literally left-hand and right-hand versions of the same floor plan. All those places now have been added on with all the issues such remodeling brings, and new homes have 40 different roof slopes, unique items like commercial fridges built into the walls, remote controlled ceiling fans, entertainment centers, diorite countertops and gone are the days of the 3 bed 2 bath with galley kitchen. You have a library, an office, theater, and recently I appraised one with a handball court inside. How the **** do you value that? And it had a sort of balcony with a shuffleboard table - and on the same level a kitchenette for fixing snacks.

I live in the land of cookie cutters, suburban Phoenix. We do have a lot of horse properties, bigger custom homes, acreage, farms, etc, but the bread and butter is the 3/2 1700sf built in 2010. Those are very few and far between over the past 2.5 years, and the only work we've gotten is complex, FHA, etc. Every appraiser I know is in the same situation in my area. One guy who will do just about anything for work is stacked with new builds and complex assignments all over the valley, because he lowered his fee to an embarrassing level.

I refuse to play the game. I saw this coming, although not this bad. I have other things going on, but will keep my certification active just in case those cookie cutters start popping when the market tanks and Fannie gets their *** handed to them.