Non Field Work Suggestions

[Digger88]

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.

no problem. ill tell you everything you want to know. these better take no longer than 15 minutes to complete

 

[hastalavista]

Seriously, let's say they can be done in about 30-45 minutes each; not out-of-the-ball park depending on the SOW. That works out to be about $96/hour from the desk; no travel expenses (and all the risks associated with travel... including getting flipped off when passing someone) and no inspection risks (tripping, breaking something... on your person or on the site... etc.).

$96/hour isn't that bad.

 

[Rick Stillman]

Seriously, let's say they can be done in about 30-45 minutes each; not out-of-the-ball park depending on the SOW. That works out to be about $96/hour from the desk; no travel expenses (and all the risks associated with travel... including getting flipped off when passing someone) and no inspection risks (tripping, breaking something... on your person or on the site... etc.).

$96/hour isn't that bad.

I believe in other lines of work they call those a quickie. And they are, indeed, very profitable I've heard. The similarities are uncanny.

 

[Carnivore]

Phil, So sorry you are in this predicament. For everyone else this is a life learning moment about how all the best laid plans can fail. Shows us how little control we actually have over our lives. My plan was sound enough(I thought), but a divorce and the 2007 RE crash completely destroyed my plan. So I made adjustments and I will be OK.

I do continue to work for not only financial reasons, but also to fill in my idle time. So my appraisal work is about 100 reports a year. I can reduce that to one a week and still be just fine or even two per month. Due to my long military life I have traveled extensively and seen a good portion of the world and the USA so I don't care if I travel in/outside the USA. If I got into your situation I would seriously look at what your thinking about doing(desktops). Here is the only problem with that. Certain cost to stay in business don't change. Annualized Realtor fees just to keep access to MLS for example. CE & Licensing fee's, annual software and E&O, although E&O can be a little cheaper for you by adjusting coverage. Maybe you can even drop the E&O Without actually knowing you there is no doubt in my mind you have thought about all this. I have no idea what a desktop pay, but lets say $50 bucks each. That's a lot of work just to cover expenses. Here are a few ideas to explore to add to your revenue stream

1. Take on one or more trainees. - there is some limitations here but with an appraiser shortage I can imagine some waiving the DID INSPECT
2. Become an AMC Phone Monkey - Many of them work from Home and your certainly qualified.
3. ...I know there is bound to be another just cant put my finger on it

Phil, you did not include Harrisburg, Dauphine County - was that just an oversight - Looks to me that location might produce more Desktop Work.

Best of Luck to you.

 

[Eli]

The very thought of the process makes me think the product ain’t worth $0.10.

Well unless I was an AMC charging way more.

It appears to be a way to shift liability to you.

 

[djd09]

Maybe the desktops are a good idea. There will be less crazies on the road.

 

[nstanbru]

including getting flipped off when passing someone)

Sorry Denis, I didn't realize that was you.

 

[bnmappraisal]

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

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.

My question is more at Digger than Denis ...

Digger, the "desktops for $60" are they desktop appraisals - asking for a value (or some bifurcated/hybrid appraisal) or are they as Denis asks, desktop reviews?

 

[Digger88]

My question is more at Digger than Denis ...

Digger, the "desktops for $60" are they desktop appraisals - asking for a value (or some bifurcated/hybrid appraisal) or are they as Denis asks, desktop reviews?

yeah i dont think they are reviews they are some sort of valuation and i dont even know what it looks like yet. i just finished up my paperwork and am waiting on approval. ill post what it looks like once i know.

edit: actually i just looked in my software total, and they have wells fargo rvs review forms so it might be reviews instead of valuations.

 

[Sandra Koutsopoulos]

After the crash, I did a BUNCH of field reviews on defaulted loan properties for FNMA, through an AMC in Plano TX. Since many of these were on track for litigation, they were very persnickity about EVERYTHING in that report, from spelling to comps, etc, and I sure learned a LOT doing work for them. They had a great staff. Seems like it was Olde ..... something or other. I'd check them out, as they had nationwide work, paid well, and demanded a good product so you could actually take some pride in your work. As I've noticed more NODs and Short Sales, they may have increased volume again. I make the extraordinary assumption that they have desk reviews as well, and even with the field reviews, I didn't physically go into the subject property... just shot photos from the street. So that might work for ya! ;-)