Is It Super Slow Or What?

[oscar55]

It is true and it is sad... But enough is enough. More forms, more time, more photos, more E&O coverage, more changes, more requirements, more expenses, more education, more technology, more AMC non-sense conditions, but less and less compensation for the appraiser. Can't they see that by pushing their unrealistic fees we're almost working after expenses and taxes at a minimum wage? I know they don't care, as they see the responsible fee appraisers as a road block on their pipeline. For me, after a 22 year journey it's over. I'm moving on, because history always repeats itself, "the big fish will eat the little fish for its own survival". Good luck to all!!!

 

[Elliott]

Its too bad gas prices are high, but Spring is a great time for a week long road trip,
lots of flora and fauna out there to explore. "I'm sorry I missed your call, I'm out
of the office on an adventure, doing fun and exciting things, leave a message and I'll
call you back and tell you about all the things I saw and did."

 

[CCAAMO]

As Fannie dies, interest rates will rocket upwards. Wanna see what a real recession looks like? I think I see it coming. Interest rates above 10% and gas over $5, lions and tigers and bears oh my! How much is a $100k house @ 5% rates worth @ 10%+ rates? Greenspan sold us down the river and retired before the stink hit the fan.

You hit it right on the head. High inflation plus high unemployment = stagflation.
The cost of commodities will rise but incomes will not. Which means home prices will fall.

The best check for where home prices are in an area is to compare the average home price to the average income. If its over 4 x annual income and you think home prices are ready to rise, you are in for an unpleasant surprise.

 

[PropertyEconomics]

I personally think rising interest rates will improve the residential home market ... it certainly has not been helped by artifically low interest rates.

 

[CCAAMO]

I personally think rising interest rates will improve the residential home market ... it certainly has not been helped by artifically low interest rates.

If incomes do not increase, how to you figure rising interest rates will help the market? If there was low unemployment I might agree with you as commodity prices and incomes would rise, but there is a vast oversupply of labor at this point.

 

[PropertyEconomics]

If incomes do not increase, how to you figure rising interest rates will help the market? If there was low unemployment I might agree with you as commodity prices and incomes would rise, but there is a vast oversupply of labor at this point.

I believe incomes will rise, I believe availability of credit will increase, and the "oversupply" of labor will be best aleviated when unemployment benefits are discontinued for the insane number of 99 weeks.

There is more pain ahead but we need to take steps toward the pain in order to achieve recovery.

 

[CCAAMO]

I believe incomes will rise, I believe availability of credit will increase, and the "oversupply" of labor will be best aleviated when unemployment benefits are discontinued for the insane number of 99 weeks.

There is more pain ahead but we need to take steps toward the pain in order to achieve recovery.

Seems to me that if all those folks on unemployment reentered the work force it would add to the labor supply not lower it.

 

[Mike Garrett RAA]

I've never posted before, usually too busy but I'm seeking solice due to my high frustration level this week. I average better than $300 a report but the details and general amount of crap that are now required for each report are doing me in.
It is no longer about if your value is accurate and can be supported, its not even if I had crossed all my 'T's" and doted my "i's". Now its about where did i cross the "T" and what shape the dot is on my "i".
The fact of the matter is, this job is no longer fun and with the amount of time needed for each report I can't make any money either. I'm only in my 40's but I'm ready to find another profession.

I will second the part about the job not being fun any more. I lost count but believe I have completed about 9,000 residential appraisal in 30+ years. Back in the day when I had an office, a secretary, an assistant, and a trainee I could do 40 assignments a month. Now I struggle with 15 a month.

 

[DTB]

I personally think rising interest rates will improve the residential home market ... it certainly has not been helped by artifically low interest rates.

It will certainly help landlords looking for quality tenants. I have already seen a much better tenant pool available and have been able to replace a few squawkers with better tenants.

The better tenants are former homeowners who have gotten shook out. They may want to be homeowners again in the future and know they need to behave in order for that to happen.

 

[Tomasz]

It is true and it is sad... But enough is enough. More forms, more time, more photos, more E&O coverage, more changes, more requirements, more expenses, more education, more technology, more AMC non-sense conditions, but less and less compensation for the appraiser. Can't they see that by pushing their unrealistic fees we're almost working after expenses and taxes at a minimum wage? I know they don't care, as they see the responsible fee appraisers as a road block on their pipeline. For me, after a 22 year journey it's over. I'm moving on, because history always repeats itself, "the big fish will eat the little fish for its own survival". Good luck to all!!!

Have to agree with you. I had phased my self into part-time appraisal work a couple years back, but with software renewal and an E & O premium coming next month I am also thinking of letting my accounts expire and packing it in.

I wish you all the best - better days ahead.