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Reason for optimism

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Doug in NC

Thread Starter
Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
While others are thinking of getting out of the business, I'm encouraged. I got 5 orders in today and I can't remember the last time that happened to me. Even in the busier parts of the year, I rarely get 5 orders in a day. January is usually one of my slowest months. Looks like things are off to a good start for 2008 at least they are here in NC.

It makes me wonder, if all of the changes going on in this industry are starting to have an effect on the appraisal business. Sub-primes are out, many mortgage brokers have disappeared, new appraisal requirements have gone into effect, lenders are denying the use of trainees, appraisers are retiring, and some are just dropping out of the business. There may be hope left for this business yet.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I agree, so far January has been the best month this year. :)

Seriously, this year is starting out gangbusters!

(damn, who says that anymore)

TC
 

Zmcraney

Junior Member
Joined
Oct 17, 2007
Professional Status
Licensed Appraiser
State
Mississippi
the residential side has been slooooooooooooow here so far this year, but I'm not giving up hope just yet. the commercial side has stayed steady for us so we can keep eating!
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
5 REO'S today.Recessions are great..
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Don't tell anybody, but I worked every Saturday in December, Christmas and New Years eve, and last Saturday. I plan on sleeping in tomorrow. The heck with work for a 1/2 day. Will likely type and watch the NFL playoffs Saturday and Sunday. So much for the nattering nabobs of negativism.:fiddle:
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
The past 4 months have been unbelievable slow here, but in the last two days, it's gotten incredibly busy. I'm not asking any questions - just keeping my mouth shut and my head down.

It may have an adverse affect on my golf game next week, though. Yes, we do play golf here in January, because it's 70 degrees and sunny today.
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
The interest rates have gone down enough to give us some activity. Yes, I already have as many orders this month as I had all of December. The negative aspect is they are all refi's, I have only had one appraisal order for an actual sale since Labor Day.
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
It has started very well for me also. No complaints, but counting my blessings.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
Rates for 30 year fixed has come down to 5.55% according the BankRate. That is historically a very low number. Anyone with decent credit and equity who needs to refi is now doing it.

I have noticed a decline in active listings in my market, and it is due to the overpriced listings expiring. Can't sell so refi.
 
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