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Residential volume way down?

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masmia

Sophomore Member
Joined
Oct 16, 2007
Professional Status
Certified General Appraiser
State
Florida
Last month was the worst month in over 10 years, this month is on pace to break last months record. Is it just me or is anybody else way down in appraisal orders for the last 45 days as compared to the Jan-April?
 

Tom Woolford

Elite Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Yep! If it wasn't for a new Client, there would not have been much point in even coming in this month.
 

Rhino

Junior Member
Joined
Jul 10, 2005
Professional Status
Certified Residential Appraiser
State
Maryland
I agree Jan-April was steady. May and June have been just awful. These two months have typically been the best months for Residential Appraising. I personally cannot afford a dismal July.
 

JonGalt

Junior Member
Joined
Aug 4, 2005
Professional Status
Certified Residential Appraiser
State
Illinois
Last month was the worst month in over 10 years, this month is on pace to break last months record. Is it just me or is anybody else way down in appraisal orders for the last 45 days as compared to the Jan-April?

Same thing here. There may be more work if I were to do the $175-$200 AMC work, but I refuse. Most realtors I know are buried in BPO's right now. Maybe lenders are just bagging the appraisal and making decisions based on the BPO.

Worst 2 months ever in May-June. I can't get any new business without comp checking and guaranteeing values, I've been everywhere. I could offer LO's free appraisals and without a guarantee they would pass. Pathetic.
 

dobie

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
New Jersey
May-June - absolute worst 2 months ever for me
 

Chae Hwang

Sophomore Member
Joined
Sep 15, 2003
Professional Status
Licensed Appraiser
State
California
dead

dead here as well. 2 orders in 4 weeks.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Pretty slow for me too. I would be hurting really bad if it were not for FHA, REOs and a few purchases.
 

Wendy

Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
Absolutely horrid here.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Yep, kinda down.

By about 35% over my usual volume.
 

Mike Phillips

Senior Member
Joined
Dec 16, 2004
Professional Status
Certified Residential Appraiser
State
Florida
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.
 
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