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Memphis Area .

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Lisa H

Thread Starter
Freshman Member
Joined
Jun 18, 2007
Professional Status
Certified Residential Appraiser
State
Florida
Hi - I currently reside in South Florida - looking to relocate to Memphis after the first of the year. I'm state certified and FHA approved - Can anyone give me some advice for the Memphis area. I'm looking to relocate there due to my 95 year old grandmother! My goal is to find a staff appraiser job in the area. I appreciate any feedback. Thanks, Lisa
 

Thern Newbell

Junior Member
Joined
Apr 25, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I think that there are some staff jobs there as I have seen LandSafe and William Fall Group advertise for that area. Considering the size of Memphis, I would say that there are staff positions at some of the larger banks. I am not sure what demand is like right though (I am on the East side of the state), but from talking to some appraisers from that area, the market in Memphis has been harder hit than other parts of our state with current market conditions.
 

Lisa H

Thread Starter
Freshman Member
Joined
Jun 18, 2007
Professional Status
Certified Residential Appraiser
State
Florida
Thanks for the info - I will check out these leads. It will be a new market to learn, but I will learn quickly. I don't want to start another new business - just want things a little easier! More time w/kids, etc. I'm on major lenders approval lists so I should fit in somewhere (Wachovia, Suntrust, National City). I may even be able to bring in work - who knows. Again, I do appreciate your time. Lisa
 

chip baine

Sophomore Member
Joined
Nov 28, 2006
Professional Status
Certified Residential Appraiser
State
Tennessee
As it stands now, Suntrusts list is pretty hard to get on b/c a % of L/O must request you to get on the list and they don't really want anybody else on it. Wachovia who knows with the Wells take over and RELS/Wells has 3 staff appraisers now and additional people on a list(so that will be hard to crack). Regions in the area is not adding people, Magna bank a local bank but does a bunch of loans(subsidiary of Crye Leike realtors Top 10 real estate company in the country) but the list is hard to crack as well. Not sure about B of A/LSI/Eappraiseit don't know who does their work here in town. Good luck look me up when you get here. I would think that the Landsafe and William Fall Group ads are just indicative of the country and no specific hiring going on here but I could be wrong.
 

Thern Newbell

Junior Member
Joined
Apr 25, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Hi - I currently reside in South Florida - looking to relocate to Memphis after the first of the year. I'm state certified and FHA approved - Can anyone give me some advice for the Memphis area. I'm looking to relocate there due to my 95 year old grandmother! My goal is to find a staff appraiser job in the area. I appreciate any feedback. Thanks, Lisa

Lisa,

I PM'd you a message this weekend. If you didn't get it, let me know.

Thnks
Thern
 

pamelabd

Freshman Member
Joined
Nov 24, 2008
Professional Status
General Public
State
Tennessee
Business in Memphis and outlying areas are at a standstill. Sales are down 80-90%. Foreclosure are very high. It's very hard to get on a Banks or Mortgage companies list without an insider helping. Most are cutting their list to a smaller amount of appraisers. Been here 20+ years and this is the worst I have ever seen it. Very few staff jobs in this area. Mortgage companies can't use staff appraisers anymore. And our fees haven't been raised in at least 12 years. There is so little work that the lender is setting the fee they will pay in most cases.
 

chip baine

Sophomore Member
Joined
Nov 28, 2006
Professional Status
Certified Residential Appraiser
State
Tennessee
Business in Memphis and outlying areas are at a standstill. Sales are down 80-90%. Foreclosure are very high. It's very hard to get on a Banks or Mortgage companies list without an insider helping. Most are cutting their list to a smaller amount of appraisers. Been here 20+ years and this is the worst I have ever seen it. Very few staff jobs in this area. Mortgage companies can't use staff appraisers anymore. And our fees haven't been raised in at least 12 years. There is so little work that the lender is setting the fee they will pay in most cases.
My fees went up a few years ago with the FHA changes from $300 to $400. I am almost always getting $375 for SFR when the guy I worked for 10 yrs ago was only getting $275. I agree sales are down but 80 to 90%(where did that figure come from?) Yes foreclosures are high but that resulted in an overload of appraisals for me from the beginning of the summer to the end of October(now they are gone-but I think they will come back). Certain areas of Memphis have been hit hard(Frayser, Cordova to name a few) but compared to other parts of the country Memphis has actually been pretty good. The recent down tick in the interest rate has my first two weeks of December pretty full already.
 

Lisa H

Thread Starter
Freshman Member
Joined
Jun 18, 2007
Professional Status
Certified Residential Appraiser
State
Florida
You've definitely got a more positive approach to the Memphis Market! I job lined up with a appraisal firm in Bartlett! I meet with them later this month and should be moving to the area in February. Thanks for all your input on the Memphis area - I do want to look you up when I get there. Good to hear you've got business in Dec - I'm dead in the water here in south Fla. Can't wait to make my move - new ventures and much to learn about the area.
 

Thern Newbell

Junior Member
Joined
Apr 25, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Congrats on the new opportunity.
 
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