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Rates Are Rising: Brokers Are Sweating

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Stephen J. Vertin MAI

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Illinois
Julio:

Is that ever a cool site. Where did you find it or should I say how did you find it? There are some really funny post on it.

Steve Vertin
 

Julio E. Sune Jr. (FL)

Thread Starter
Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Steve

I found it in thread in the appraisersforum about 1-1/2 year ago. Another appraiser had found it.

8) 8) 8)
 

Fred

Elite Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
Steve,
I have some archived threads from that forum where the discuss appraisers. Seems one fellow was frustrated that the state board was going after some of his favorite appraisers.
 

Stephen J. Vertin MAI

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Illinois
Steve:

I noticed in a recent message on their forum one of the posters asked for an appraisers. He said "not just any appraisers". Another one posted back he knew a guy "never had a problem with value". Not as crazy as your talking, but sad just the same. Many of these guys just care about up front fees, hell with risk. They do not want to know the truth or at least an opinion of the truth. The sad thing is it goes pretty high up in some of these organizations. I have never seen or heard anything as crazy as this system.

The housing market is booming, but because of the economy commercial, especially office is really hurting in most of Chicagoland. Most of the commercial appraisal work this past Summer had been refi based strictly on lower rates. I fear if things take a down side or rates go up to quickly we will be sitting on our hands for a while than the repos will start. In fact I took in a couple of repo appraisals last month. I have not done any in years. It is going to get interesting.

This Spring and Summer I was saying things were going to be good for awhile but I feel the wind a shifting. It will be some months out ( 6 to 8) but its a coming. The good times are not over yet but we are near the peak, if not slightly over it.

And as one of them said on their forum, once its over there will be a whole lot of appraisers and brokers saying "would you like fries with that order"? Well lets hope brokers mostly.

Steve Vertin
 
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