• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Is work picking up in California

Status
Not open for further replies.

Mystery man3

Thread Starter
Junior Member
Joined
Jul 26, 2005
Professional Status
Certified Residential Appraiser
I am in the So cal area.

I seem to be a tad busier in July.

Thinking appraisers must be going out of business. Anyone else see work pick up a little?
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
I was kind of busy for 2-3 weeks, but now it died again.
 

ZZGAMAZZ

Elite Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
It is as though the market where the farmer sells the eggs is not open for business.

Busy busy busy with REO's during the Spring but now that prices are lower the volume of mortgage work is virtually nil. (So much for the concept of 'pent up demand.")

The coercion implicit with virtually every mortgage assignment is becoming more and more blatant.

Several of my long term realtor and broker clients indicate that they are doing all their work through C.W., which selects the appraisers; and that appraisal panel has been closed to new 'vendors' for several years as far as I am aware.

I think the term is "paradigm change." However, the lady who owns the car wash has virtually no business, the bartender at the corner joint lost his maintenance job with the County, the Shell station auto mechanics say that nobody can afford to fix their cars, and an aquaintance who is a public service wellness doc says that lots of patients can no longer afford to visit his office for group educational seminars.

Down, down, down...
 

Ken Youngkrantz

Junior Member
Joined
Dec 2, 2003
Professional Status
Licensed Appraiser
State
California
Has been relatively steady in Bakersfield. More purchases, mostly FHA, and less refinanced. About 60% of my work is FHA right now. Sales activity has jumped up in the last couple of months. The lower end stuff $150,000 to $180,000 is affordable for the average person. Seeing more investors getting back into the market. We are about equal to 2004 prices right now.
 

CCAAMO

Senior Member
Joined
Sep 17, 2007
Professional Status
Certified General Appraiser
State
California
I am in the So cal area.

I seem to be a tad busier in July.

Thinking appraisers must be going out of business. Anyone else see work pick up a little?

Even in a slow market, a lot of appraiser's take some time off in the summer. It is never good to judge by one or two months, but I hope you are right.
 

Flygirl 152

Senior Member
Joined
May 3, 2006
Professional Status
Certified Residential Appraiser
State
California
My business picked up substantially in June and July, and I was wondering also if it is a result of appraisers moving into other fields. I suppose when my kids go back to school things will slow down again. : - ( I wouldn't mind being slow in the summer when they are off school, and busy during the time they are in school. But it always seems like I get the busiest during summer and during their holiday breaks.
 

LA Woman

Member
Joined
Jul 18, 2007
Professional Status
Certified Residential Appraiser
State
California
I've seen an increase in work in the past 2 weeks. I think it is mostly due to prices in my area being so low, the big time investors are scooping them up as they cash flow.

I think there may be a little more work due to appraisers going out of business, but we have soo many here in CA that I think it will take several years before we would see any significant impact.

But with all that is going on with Fannie/Freddit, et.al. I think that all bets are off for the time being.

Hang on to your hats, its gonna be a bumpy ride.
 

Wolfe54

Freshman Member
Joined
Jul 15, 2008
Professional Status
Licensed Appraiser
State
California
I am in the SoCal jungle of LA (La La Land). I have seen a bit of an increase in the past 10 days or so, almost all purchases, and value is close to (!) what it should be. Almost all are REO's. My big surprise is the condition is average as I would expect REO's to be beat up. Without my wife working, however, we would not make it on what I am bringing in. I still think the ride will be bumpy for quite a while.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I am in the So cal area.

I seem to be a tad busier in July.

Thinking appraisers must be going out of business. Anyone else see work pick up a little?

I would think it should be, Jeffrey. It's harvest season in the valley. Lots of work pickin' tomatoes, squash, green onions.....

Oh, you mean appraisal work. Well.................NO!
 

ZZGAMAZZ

Elite Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
I did a job today and doubled my July volume.

Thank goodness for the sake of the regional appraisal industry that I did not get any assignments based upon the last 100 comp checks I performed, each of which revealed apparent market values way too low for any deals successfully to have been conducted.

Imagine how the Public Trust in our industry would have declined if 100 potential borrowers would have paid for 100 appraisals just gathering dust...
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks