The Premier Online Community for Real Estate Appraisers!
-
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.
More AMC and PDC Bull
- Thread starter Trihard
- Start date
Surf Cat
Elite Member
- Joined
- Apr 21, 2003
- Professional Status
- Certified Residential Appraiser
- State
- California
Along with superior, inferior, church, school and a myriad of others.....
glenn walker
Elite Member
- Joined
- Oct 11, 2006
- Professional Status
- Certified Residential Appraiser
- State
- California
The large AMC model was developed by the Money Center Banks IE Bank America-Wells Cargo etal years before Hvcc or Dodd Frank and they're panel served as the banks appraisers. After Dodd Frank they were spun off into their own entity and their employees and managers went with them. BA Landsafe turned into Corelogic and to survive away from their Mother Ships they had to expand selling their goods and services to any Lenders they could get on board.
My point is Hvcc and Dodd Frank forced the AMCs to become bigger in order to survive but like appraisers only a few will survive over the next five years. But unlike appraisers their model can expand into managing other services outside appraisals. Today their owners are in exactly the same position as the fee appraisers both are in Low Fixed Fees with increased fixed costs and less and less volume. Both business models are in a slow death spiral without expanding into other services.
My point is Hvcc and Dodd Frank forced the AMCs to become bigger in order to survive but like appraisers only a few will survive over the next five years. But unlike appraisers their model can expand into managing other services outside appraisals. Today their owners are in exactly the same position as the fee appraisers both are in Low Fixed Fees with increased fixed costs and less and less volume. Both business models are in a slow death spiral without expanding into other services.
George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
I don't control or change the meaning of the words I use. I just decline to allow you to get away with misusing those terms out of context.
Every time people lose an argument this way they always go back to criticizing the actual definitions of the terms they use.
djd09
Elite Member
- Joined
- May 20, 2009
- Professional Status
- Licensed Appraiser
- State
- Ohio
gregb
Elite Member
- Joined
- Sep 3, 2011
- Professional Status
- Certified General Appraiser
- State
- California
conforming...
djd09
Elite Member
- Joined
- May 20, 2009
- Professional Status
- Licensed Appraiser
- State
- Ohio
ilsindaco2628
Sophomore Member
- Joined
- Feb 23, 2017
- Professional Status
- Licensed Appraiser
- State
- New Jersey
Speaking of PDC
I do PDC inspections here and there (5 per week) and they pay $100 each.
I don't mind doing them... and I've done both sides of it (the desktop appraisal using someone else's PDC report)
I think commentary about relying on the data to be accurate and so on should be standard just to cover our own asses.
Here's what I don't understand. They are paying a property data collector $100 for an inspection then paying an appraiser $250 to do a desktop appraisal based on the PDC report. Why not just pay an appraiser $350 to do the whole thing? It costs the borrower/lender the same amount of money and you'll get a more confident/reliable report because the person that had eyes on the property is also writing the report.
I do PDC inspections here and there (5 per week) and they pay $100 each.
I don't mind doing them... and I've done both sides of it (the desktop appraisal using someone else's PDC report)
I think commentary about relying on the data to be accurate and so on should be standard just to cover our own asses.
Here's what I don't understand. They are paying a property data collector $100 for an inspection then paying an appraiser $250 to do a desktop appraisal based on the PDC report. Why not just pay an appraiser $350 to do the whole thing? It costs the borrower/lender the same amount of money and you'll get a more confident/reliable report because the person that had eyes on the property is also writing the report.
The appraisal portion is way less than $250.
Surf Cat
Elite Member
- Joined
- Apr 21, 2003
- Professional Status
- Certified Residential Appraiser
- State
- California
$100 bucks for the property data collection part is a much better deal then doing "what appraiser's do best" and analyze the data for not much more than the PDC is getting.... more risk, less reward = no bueno.