Is It Super Slow Or What?

[Donna Quixote]

I was very busy for previous month, this week it has dropped off a cliff

 

[Bob Ipock]

Why is it generally slow?

The economy.

Take a look at BOA's 1rst quarter results with similar bad numbers from Wells and CITI for mortgage activities. Overall mortgage activity is in decline pretty much
all over the country.

The scary thing is the forecasts look pretty flat to possible declining for residential, new construction and new commercial activity.

Key questions Will Fannie Mae live or die? Who will purchase mortgages? Will unemployment continue to be a big issue? Inflation? US bond ratings to be downgraded? Are foreign investors and creditors getting more nervous about our economy?

Or on the other hand....everything is the fault of the AMCs!


Of course if anyone on this forum had the answers....they would not be here.

 

[Mr Rex]

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.

 

[23Degrees]

REFI index - look out below!!

http://www.bloomberg.com/apps/quote?ticker=MBAVREFI:IND

 

[Bob Ipock]

Yeah........but rather than blame the economy, unemployment, low credit scores etc...


It is so much easier to blame the HVCC and AMCs for a decline in appraisal orders.

Never let the facts get in the way of a good myth.


Thanks for the link! THAT is the kind of thing I like to see...a factual account that explains....why.

 

[Elliott]

Short Version

http://www.youtube.com/watch?v=RZX6tHkW7xg&feature=player_embedded

Long Version

http://vodpod.com/watch/3371443-video-aloe-blacc-i-need-a-dollar

"Maybe its inside the bottle"

 

[Delta85]

Yeah........but rather than blame the economy, unemployment, low credit scores etc...


It is so much easier to blame the HVCC and AMCs for a decline in appraisal orders.

Never let the facts get in the way of a good myth.


Thanks for the link! THAT is the kind of thing I like to see...a factual account that explains....why.

The problem with HVCC/AMC is that they control the bulk of work so many are forced to wait for the phone to ring rather than being able to go out and get that work by selling ourselves and our products.

The economy is why there is less work and what work there is is controlled and portioned out by third parties.

 

[Ray Miller]

I understand what your are saying. It has changed.

I am working on a referral single family today. The client want a value to list and sell. It is glaringly apparant working on this report, a good old fashion report, the changes that have happened over the past couple of years.

I decide what needs to be in the report to get the job done, and bill accordingly. thats the way it should be all the time.

I have to laugh about the R & C fees while doing this....................it is hard to remember the old scope of these reports. you bet

Judy, a good gig is working seasonal in the National Parks. For example, working here in Glacier Mid May to Mid Sept............and then maybe a park in the south........maybe the Everglades in the winter..........or not. Maybe of these have lodging available as a part of the job scope, for a fee. Some offer Room and Board dorm or bunk house style, if husband/wife team, you can have privite housing. Some allow you to bring your RV and park with in the park, some outside the park.

How ever with all parks no pets allowed for workers. This is the rule most of the time either federal or privite. In a few cases they will allow a dog or cat. Maybe a horse if you use it in your work.

I am looking into heavily for the summer gig year. Medical on the seasonal is not typical, but happens in some cases.

Some do offer medical with the job. Just depending which concessionar your working for or if you take a seasonal goverment job and work for the feds.

Summer in the Mountains, winter in the Desert, have three to four months off a year for traveling and site-seeing.

ps. some jobs offer a Porter House Steak dinner every night as a perk for the job.woohoo

 

[TC]

It is so much easier to blame the HVCC and AMCs for a decline in appraisal orders.

Never let the facts get in the way of a good myth.

I guess the loss of a significant amount of business from mortgage brokers that I've experienced is a myth.

 

[Mike Garrett RAA]

Wow, I missed this thread as I was in Missouri fishing a tournament...left on the 9th.

First off...Goodbye Ray Miller. I hope you will be able to enjoy life a little more without the hassle of residential appraisal. I think you will remember I suggested it might be time for you to give it up a couple of years ago.

As to work, mine has been fairly steady albeit slower than a year ago. January was off by 45%, February off 60% but then I took myself off rotation from the VA to go to CABO so only worked half a month. March picked up and was a the typical volume level when compared to the last 3 years. I again took myself off rotation for 12 days this month. Only received 5 assignments for the month plus one that was canceled last month and was just re-activated yesterday so that makes 6. Ten more working days so I will probably get another 5 or 6.

I accepted 4 non-VA assignments including a field review and all are at my normal and customary fee over the last 60 days. Looks like my teaching USPAP days are over so there will be a little less income for the year but all in all I am still in business.

I concur that the work is more and more complicated and takes longer and longer to do. Part of that is I am just too old to work longer hours like I did when I was younger. I used to be able to work until 1 or 2am ... now I am in bed by 9 most nights. Also we are seeing more complex properties going VA. The 1004mc has added nearly an additional hour in research and reporting. Traffic is another problem as our population has tripled over the last 15 years. It takes longer and longer to travel to and from assignments.

Hopefully I can do a couple of more years while waiting for my wife to reach retirement age. She has 26 years with Sam's Club and will be 66 in two years. Still trying to decide where we will go when we retire. I prefer Arkansas or Missouri, she really would like to stay here in Colorado.