Non Field Work Suggestions

[PhiloFarnsworth]

My plan, as certified residential appraiser with over 15 years in the business, was to slowly semi-retire over time after 65, putting off SS for a few years and then taking on the maximum work that I could while collecting my SS. Unfortunately, my plans have run into a snag; I've been laid up with a cast on my leg for the last 5 weeks. It looks like I will be on crutches and a wheel chair for another couple months, with a real possibility of it being as long as 9 months.

There have been a number of times in the past when I have been asked to do desk reviews or to come on board with a company that did "desktop appraisals". I always turned the reviews down as I had no experience doing them and turned down desktop appraisals because, for a long time I questioned their USPAP compliance. Besides, I had plenty of work as it was.

However, it appears that I need a source of income that does not entail inspections outside of drive-bys. Does anyone have any suggestions for someone in my situation? Would a couple McKissock courses on appraisal review be sufficient to attempt review work? I have read that desktop appraising has lately been addressed by USPAP as a legitimate product; any suggestions as to who offers such work in south-central PA? (Berks, Lancaster, Lebanon).

I would appreciate any help.

 

[bnmappraisal]

"desktop appraisals"

I've done a handful of these, but definitely not enough to pay the bills...BUT, if you get the right client(s) it could be profitable. I'd reach out to any agents you know and market to them.

The ones I've done have been for private/non lending assignments. They've mostly been for real estate agents, but I've done a couple for private individuals (who were referred to me by agents). I give a slight fee discount ($50 less than my normal fee) for not having to physically go to the property/inspect/measure, etc, but that's me. I use the GPAR form, which has a box for "Inspection of Subject" with a box "None"

These types have more narrative explaining the EA's used (i.e. photos provided by client, condition of property, etc) and I just did one a few weeks ago for an agent who didn't require/want any pics used in the report (he said he knows what the property looks like and pull the pics from MLS of the comps if he wants to - worked for me!)

Many AMCs are offering other "desktop appraisals" which are not what I just described. These I have not done, but have a friend at an AMC who works in a dept that does these. They pay only $50-75/"report" and are more like these bifurcated reports we hear about on this forum. Another person "inspects" the subject property and fills out a few questions, sends it in to the AMC and they then send the appraiser this info to write the report. These are the ones touted as being able to be completed in 30-60 mins (hence the $50+/hr sales pitch many AMCs are giving). Again, I haven't done any so can't speak much about them, but might be something for you during your down time.

Best of luck and speedy recovery!

 

[Elliott]

Phil,
My situation is similar. I've told clients that I don't do review work.....too much responsibility IMO for the fee if its done right. If I decide I just can't live without the pin money in retirement or bored out of my mind and can't find any fun projects to do, then I will probably call some of my old clients and make a proposition about doing review work and see if I get any bites. My experience has been with my relatives is that if they make their skill set available, they can work according to their terms.

 

[TRESinc]

can't speak to the desktops as i haven't done those reports but for reviewing i personally believe it is better to train with/shadow someone who does them on a regular basis vs taking a course or two. sure the courses will give you a certificate, and that is good to have, but i've found (for me at least) real world experience greatly trumps what a class will show me. there is a lot more to review work than most people think, especially those who have never done review work. additionally if you have to provide your own opinion of value a review assignment can easily be double the work of performing the original appraisal, so the fee has to be commensurate with the work entailed.

 

[Tim The Enchanter]

Look up RVS. Residential Valuation Services, part of Wells Fargo.
Their machine wants a lot of desktops for internal use, but I don't know about your area.
They pay reliably, fees are meh, more or less OK.
Might work for you, I hate being in the office all day.

 

[Deleted member 134708]

Sorry for your condition.

Love that appraisals are so insignificant they can be done from a bed ridden position.

@ OP. Get better bud. Wish you all the best as a person.

 

[Digger88]

My plan, as certified residential appraiser with over 15 years in the business, was to slowly semi-retire over time after 65, putting off SS for a few years and then taking on the maximum work that I could while collecting my SS. Unfortunately, my plans have run into a snag; I've been laid up with a cast on my leg for the last 5 weeks. It looks like I will be on crutches and a wheel chair for another couple months, with a real possibility of it being as long as 9 months.

There have been a number of times in the past when I have been asked to do desk reviews or to come on board with a company that did "desktop appraisals". I always turned the reviews down as I had no experience doing them and turned down desktop appraisals because, for a long time I questioned their USPAP compliance. Besides, I had plenty of work as it was.

However, it appears that I need a source of income that does not entail inspections outside of drive-bys. Does anyone have any suggestions for someone in my situation? Would a couple McKissock courses on appraisal review be sufficient to attempt review work? I have read that desktop appraising has lately been addressed by USPAP as a legitimate product; any suggestions as to who offers such work in south-central PA? (Berks, Lancaster, Lebanon).

I would appreciate any help.

you need to call 1-888-456-1359 Wells Fargo panel recruitment.

 

[Tim The Enchanter]

you need to call 1-888-456-1359 Wells Fargo panel recruitment.

There ya go.

 

[Digger88]

There ya go.

yep. call me crazy but i just signed up to do desktops for $60, lol. i might only last 1 order but i have nothing else to do except for tomorrow.

(edit) nice bike bro. i dont really ride a lot but ive bought and sold so many over the years. my all time wish i had one bike is the Capo Norde

 

[hastalavista]

yep. call me crazy but i just signed up to do desktops for $60, lol. i might only last 1 order but i have nothing else to

I'm not going to call you crazy.
What I'm interested in is this: When you get an order, can you share (in general terms) what the type of review is required (a) an opinion of the quality of the original appraisal which does not require a review opinion of value, or an opinion of the quality and an opinion of value by the reviewer; as well as (b) what level of data verification is required by you when evaluating the original report.

I'm not asking for specific details; I'm asking for your overall impression.