The way I see it, it is slow nationwide - at least that is my take on it. But is is particularly slow in Florida. I think the RE market here is in a world of hurt and it is going to get worse. I think the appraisal sweatshops here are running the small practitioner out of business. Now is a good time for that to happen as I'm about 15 years before retirement.
In another forum we are debating Florida's regulators' lack of willingness to enforce the law - our #1-3 national ranking in foreclosures, our #1 ranking in mortgage fraud. I think Florida is revealing herself and it is not just the residential real estate industry that is screwed up. Folks in the other 49 states just don't fully understand Florida is all about satisfying the retirees.
I've been driving past a scrap metal business for 20-30 years on the way to my mother's house. Used to be there was never a line of incoming cars. Now it is routine for there to be 10-20 cars lined up waiting to drop off scrap metal.
I've written residential RE appraising off completely, at least for this year and part of the next. We are in free-fall. They are dumping the foreclosures. I refuse to get into the mud and compete for the low fees. WE have a huge, HUGE oversupply of appraisers - poorly trained and ethically challenged appraisers in particular. I really have no sympathy for Florida appraisers, in general. Fortunately, I have the education and experience to do something else.
This is license renewal year. I'm noticing the CE providers are advertising like mad. The Florida stats show 15 trainees entered the business the month of 5/08 - down from over 200 in 1/07. That is the best news I've heard lately. If I don't see huge fallout in the numbers of appraisers after 11/30/08, I'll switch to appraising part-time. Fortunately, we don't issue the Licensed level appraisal license here.
We are a state that has been living on the sales tax for revenue for far too long - and the tourist dollar. And we are still making promises to retiress to come here, die here, tax free. Florida is the Bananna Republic of the nation - just a cut above Puerto Rico. Sad to say, I was born here.
That's my general feeling, perhaps a depressing one, but that is the way I see it. I don't know if I have the stomach for appraising in the future - I've lost too much respect for this business.
