One more nail in the coffin...

[Charles West]

Just finishing a couple of row homes to flip. Nobody has aggrevated me, and profits look great. Part of going back to it was boredom. I still will do appraisals for my non AMC friendly clients, but how many will that ever be. Never like before. Gone with the wind, appraisers lost that war.

Here is a potential flip that came on the market around the corner from me. Somebody got in over their head and stripped the interior; the yard is a mess, with no driveway and a challenging slope that undoubtedly sends water straight at the improvements. It has a fully depreciated pool and .65 of an AC. They are asking $779,000.

 

[Non Sequitur]

The saddest part, even if fees were decent true indie appraisers will never see any volume at any price. AMCs control the data collection side and will, as Class Valuation proudly brags “feed family first”, and send the report side to their staff appraisers.

 

[Alsie35]

Once again, if nobody would do them, they would not be an option.

*SNIP*

THIS, I predict is the "real world roadblock" that they will run into upon "implementation". And many clients will HAVE to order a traditional appraisal because they won't have enough "homunculi" generated yet by PAREA to do this type of dreck.

 

[Alsie35]

*SNIP*

It is time to defund Fannie and Freddie, starting with Freddie.

Fire them all - and throw all their "newfangled" tech of the past 5 years into the trash can (well, I can dream, can't I?)

 

[Phlyguy]

If the new 1004 now only applies to proposed construction why would the form developers keep throwing money at development?