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Just A Rant

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Atlanta CG

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Lenders, AMC's, Borrowers simply do not realize the problems we face. Yesterday my appointment was at 3 pm-owner's only time but reasonable. The property was 14 miles away. I live close to the highway entrance, the subject house is close to the highway. Normally a 25 minute drive max. It was raining, dark and as always the traffic unbearable. 2 1/4 hours later I arrived, finished the house, drove by the comps, went home after a 6 hour total appraisal and it has not even touched the computer yet.
Recently did a Ranch with an 18' addition. The neighborhood is full of standard Ranches with no additions. Had to go 3 miles just to find one reasonably similar just to bracket the size. That was an additional hour trying to find one and going there to take the photo.
Another home, 2 story on a crawl space, CA 2005, 3500 sq. ft., 4 car garage with a 648 sq. ft. office above the garage, acre of land, pool, and close to the city downtown area. Even within 4 miles and 12 months there were no comps. Took well over 2-3 hours to find anything that was reasonably similar, worked long hours to prove the many necessary adjustments, just to meet the client's requirements. Sometimes you just do not know what the property is actually like until out there and committed to it.
Last one, standard 2 story in a very large close-by neighborhood, full of 8-9 room homes on basements with a tight value range. MLS photo shows it to be typical. Get out there and discover it is set so high up that falling down the steep driveway would test the 100 yard dash record. And, it was on a crawl.
So few comparable sales, takes much longer, puts off other assignments and gets everyone mad. Wish I were a heavy drinker-I would have an outlet.
Frustrated.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I know, we work hard for the money!
try to do sports, spend time outdoors let out frustration in a positive manner
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Then there's the one that's a conforming tract house, looks like a clean deal, has a rush fee.
Actually fits into the schedule. What am I missing here? :cautious:
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Sounds like my week. Assignment #1, new construction. Still in the framing phase, Assignment #2, new construction $20,000 above recent sales. Assignment #3, HUD manufactured in a stick built community, no HUD label or HUD tags. Assignment #4, older rancher $20,000 over priced, agent says, "but, but, we had multiple offers!".

Still arguing with builder on one I did a couple of weeks ago, used same model, same street that sold a month ago as #1 comp and it was $8,000 less than the contract on this one. Received an email last evening requesting a final inspection on new construction.."can you please do it tomorrow as we want to close Friday!" Of course it's only 4 degrees and snowing.

Couple all that with running around getting lab work done for my upcoming surgery, attending a funeral for a good friend on Monday, and shopping for Christmas...just another week in paradise!
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Sorry, but LOL... if only mine were so easy.
 
D

Deleted member 134708

Guest
Not knocking anyone.

There is no way I would do hassle appraisals for normal fees. Say $500. They take you way more than 8 hours. I'd charge like $2,000.

When that's all that's left to appraise for $500 a pop. No way will I be in the biz. Way too low of pay.

I got into it cause my area is all stucco boxes. Would of never done it if every assignment was a mess. Time v. Pay just doesn't work out.
 

miktay

Senior Member
Joined
Jul 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
They take you way more than 8 hours. I'd charge like $2,000.

What kind of volume are you cranking out at $2,000 a pop for residential work?
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
it's part of the joy of being an independent appraiser. sometimes you get the 1,000sf ranch surrounded by identical homes, sometimes you get the 5,000sq architect-was-on-LSD house with no right angles, indoor and outdoor pools, a horse riding arena and 100% solar powered on 19ac. it looks as if the pool of potentially "easier" appraisals is diminishing as rates raise, the seasonal slowdown starts and those who have been holding out finally come in to refi. happens almost every year around this time.
 
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