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Massive Shortage Of Appraisers

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Dumpers14

Member
Joined
Dec 1, 2008
Professional Status
Certified Residential Appraiser
State
Georgia
I love the last paragraph from Brian coester. Lmao. He is such a tool. Why do people keep on interviewing him.

When they removed the trainee to be able to inspect the property, I don't think they understood the trickle-down effect it would have on the entire mortgage market nor did they understand how trainees were used by the appraisers within the mortgage market," said Coester.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
"Massive" Shortage? , CNBC? *lmao* reminds me of "Vast" ----- wing conspiracy, the Kardashcoasters too?
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
http://www.cnbc.com/2016/09/27/massive-shortage-in-appraisers-causing-home-sales-delays.html

This article posted 1 hour ago on CNBC. I think it's a re-hash article but, I wanted to point out how the media/GSE's/regulators will run with the narrative. It's grabbing ahold. Horse out of the barn and GSE's are on their way to fix.

Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers.

That is causing growing delays in closings, costing buyers and sellers money and in some cases even scuttling deals.

Wonder if there are not enough AMC appraisers? :drinking:

Too bad, such a pity. It will take years to get enough of the right kind appraisers to do that work. Maybe they could allow Zillow to value the homes instead?
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
AMCs delays have scuttled more deals than appraisers. The AQB changes will essentially allow AMCs to turn a corporate hire newbee into a Cert Res in 1 year. I imagine chief appraisers for the AMCs will turn out more appraisers than blue eyed blondes from a sperm bank.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
My office manager just told me that we were alerted to an order request from one of the portals that a client (bank) uses. It was for a rush job in the city where I live. The due date was this Friday and the fee was $430 (this information was in the email).
My office manager signed-on to decline the order, but it turns out this order was not from my bank client but from another entity who uses the same portal-system (apparently, by being on this portal, I am now accessible by more than my bank client). So, she was going to hit the decline button and she noticed that the job was not available any longer. Apparently, no shortage in my market for 3-day turn-around at $430.
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
There is no shortage. It's just that I'm tired of their 24-48 hour turn times. A week is ample and adequate. Sorry they have to wait longer, you'll end up with a better product.
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
'Sales'......So this AMC is shopping around a pending sale.....fee is $340 and their cut is $190.....yes one ninety... I put in a fair bid that was declined. Another day the buyer has to wait as they search for Mr/Mrs $340.
 
D

Deleted member 134708

Guest
I posted on another thread. I bid $364 (they have $9 tech fee) and 4 day turn time on a request within walking distance. My bid was NOT accepted.

No shortage here. <$350 net < 4 day turn time.
 
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