Lower Fees, What is wrong with some Appraisaers!

[Greenback]

Tell me where the "public trust" is defined in USPAP. Where are the terms "public" and/or "trust" defined? Are the terms/phrase even discussed? If so, I confess, I missed it.

I must have missed it, too. The most glaring part of, public trust, is mentioned in the preamble. USPAP fails to address the importance of public trust in more detail. For the most part, public trust, is only mentioned, nothing more - nothing less.

 

[Greenback]

...Anyone ever word-count the instances of the terms "public" or "trust" and/or the phrase "public trust" in USPAP? How many times are the words even used past the preamble?

USPAP doesn't acknowledge a prime role for the public. There is one comment, though. A loophole, in my eyes.

USPAP defines the client. However, there is a suggestion (I suppose its a suggestion), if someone other than the defined client demands to be the client, then they are entitled (I assume that's the appropriate word). The public must demand to be the client; the public must demand acknowledgment.

I am using the word, public, as if one may be the borrower or seller, investor, etc.., someone other than the status quo client.

I am guessing USPAP would like to interpret the, public, as being everyone except the Real Estate Appraiser.

Sincerely,

 

[Greenback]

...The masses are preoccupied with earning enough to endure life, not to live life.

I agree with that.

 

[Greenback]

...The rich screws the poor, the money lenders screw the borrowers, the politicians cultivate the voters and then suck up to them long enough to get their votes, then it is business as usual, because for the most part, the voters are stupid.

The Public has been misled. It's hard to be intelligent about decisions when the truth isn't exposed. Other than that, I agree.

Sincerely,

 

[Esox]

JackieWI. Sounds like you and I are in the same market. Just so you know, I have been appraising in this marketplace for 19 years. I have NEVER completed a URAR appraisal for $200. As trainee in '89 and '90 the company charged $250.

I have not seen under $300 for a number of years. Perhaps the quality of your clients is what you should be questioning. There are many clients in this area that pay more than $200 without question. You apparently do not have those lenders as your clients. Therein lies the problem.

Kevin

 

[Mztk1]

Appraisal fees are in line with what they were years ago when I started.

Pre-licensing days a lot of appraisers hooked up with mid to large-sized companies that got the work and did a fee split. Even for a while after licensing things remained like that. Where I lived and in the company I worked at, 1994 fees were from $250 to $300 for a simple URAR, with $275 considered typical, and the split to the appraiser would be typically be $100 to $135 depending on reliability and experience. (I am going back to 1994 because I was in the office and can remember the fees well.)

In today's (2007) dollars the 1994 fee of $250 to $300 would be $350 to $425, or about what the AMCs are getting or what we get from clients direct. The $100 to $135 split would be in 2007 dollars $140 to $190, or about what the lower end AMCs are paying.

Nothing has really changed, it's just that there isn't much work out there for everyone to get the full fee like during the boom.

http://www.westegg.com/inflation/

 

[Summer]

Let's publish their names. This is crazy how stupid these appraisers are.

 

[Em Tee]

Let's publish their names. This is crazy how stupid these appraisers are.

Who cares who they are? Get over it!!!

 

[Terrel L. Shields]

It depends on where you work. Wisconsin in inundated with appraisers.

So? We are too...but I still get $325 minimum and my average residential fee now is highest it has ever been - $505 and a few pennies... If you married the mortgage broker you are getting no more than you asked for. Broadening your range of service, etc. is more sensible. Best of all, I don't have to deal with UWs, maybe twice so far this year, no comp checks, no angry calls...not a homeowner call in probably 2 years. life is good.

 

[Tom Woolford]

Let's publish their names. This is crazy how stupid these appraisers are.

Didn't you and I go round and round over this last night? Get over it.