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Slow Down?

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USPAP Compliant said:
Stagnant wages, welfare spending, housing affordability, other issues all kind of linked to the top 5 % using every method possible to reign supreme over the other 95%. IMO
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Name some of these methods they are using to "reign supreme". Lol

Maybe you can look at it like US business promotes illegal immigration for cost reasons but I don't think that counts as the 5% using every method possible to "reign supreme". Wage stagnation, especially for unskilled labor has 100% to do with supply of unskilled labor. There was a huge boom in illegal immigration occuring at the same time as the economic growth of the 80's and 90's. In my opinion that's the main reason for wage stagnation. Especially for unskilled labor. It all comes down to supply of unskilled labor.
 
A Deloitte report estimated almost 40% of all jobs in the legal sector will be automated in the next 10 years and accountants reduced by 95%. Bank tellers and loan officers will be replaced by ATM’s and branch banks reduced/eliminated. One of the top 15 biggest banks in the US is beginning to close and eliminate branch locations, which means a reduction in loan officers. Financial analysts will be replaced with artificial intelligence, which can efficiently analyze large amounts of historical data to predict future market trends. As the baby boomer generation retires, immigration reduced, and the available workforce reduces, demands for higher wages will accelerate automation as companies move to protect profits. Our industry is caught in the middle of these changes. Our once relationship-based industry has been reduced to electronic bidding and Web Portals. The relationship is almost non-existent. The AMC’s have reduced the need and desire for a relationship. We need to reestablish the relationship, which is not with the banking industry. We need to retool, refine, and be creative with services that promote relationships. You can fight automation or adopt it as a tool for more creative solutions.


AMC’s, their days are numbered. The middle man is the most vulnerable in the current equation. Appraisers playing the rate blame game as a cause for less work, wake up. The trend of less work is here and get used to it. It may not be this year or next, but less work will accelerate faster than you can readjust your workflow. It takes time, money, and commitment to educate and promote a service to the market. Many of us have worked in a captured market for most of our careers. It’s easy to get on lists where the only requirement is a license, E&O and acceptance of a narrow fee schedule. Well, the sheep herder is sending us to the cliff and the wolves are fat on the strays. Wake up and take charge of your path rather than allowing others to choose what is best for them. Stay relevant. If not, maybe you can advise customers at the Chic-fil-a drive thru which menu item is the better value for the money.
 
As part of the move, CoreLogic said that it now plans to “accelerate” the “transformation” of its appraisal management company operations. According to the company, that transformation will make use of “data-driven analytics, automation of workflows and enhanced utilization of (the company’s) dedicated staff appraisers.”

https://www.housingwire.com/article...als-moves-away-from-loan-origination-software
 
USPAP Compliant said:
Stagnant wages, welfare spending, housing affordability, other issues all kind of linked to the top 5 % using every method possible to reign supreme over the other 95%. IMO
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Yes!

"Proletariat" - workers or working-class people, regarded collectively (often used with reference to Marxism).
"the growth of the industrial proletariat"
synonyms: the workers, working-class people, wage earners, the working classes, the common people, the lower classes, the masses, the rank and file, the third estate, the plebeians;
the lumpen, the lumpenproletariat;
derogatorythe hoi polloi, the plebs, the proles, the great unwashed, the mob, the rabble;
humoroussheeple
"the voice of the proletariat"
 
hillbillyman said:
As part of the move, CoreLogic said that it now plans to “accelerate” the “transformation” of its appraisal management company operations. According to the company, that transformation will make use of “data-driven analytics, automation of workflows and enhanced utilization of (the company’s) dedicated staff appraisers.”

https://www.housingwire.com/article...als-moves-away-from-loan-origination-software
Click to expand...

--------------------------

I don't quite agree with the Premise of the Article in regard to appraisers.. Yes, i do agree that the process is slow, but is that really the Appraiser! Now I am guessing and i only can use myself and can elude to some other appraisers, I.E my long time friend - USPAP COMPLIANT - him and I don't on average take 2 weeks, 3 weeks or more to complete an appraisal. I doubt any residential appraiser at this forum take that long. There are exceptions but that's fairly rare IMO and most likely is the result of a Complex Assignments.

I can see how Corelogic with Staff Appraisers(located in the field/market locations) can be more efficient. . One area AMC's are very inefficient is when they Broadcast an order Searching for the lowest Fee and Shortest turn time. We all have experienced the Broadcast assignment coming back around to us for a second or even third try. Another area of inefficiency of an AMC is the internal appraisal review process(aka Checklist Charlies) - You get a stip for an item or two. You send it in, a different Checklist Charlie looks over the report and finds some other nit-picky item.

I am not telling you anything you don't already know.

Corelogic obviously has studied this issue very well. I said this earlier and a few of you quickly said I was wrong. I cant quote myself, but here goes Corelogic is not trying to get rid of Appraisers. No they are trying to make appraisers more efficient. They are trying to get rid of the other AMC competition. They will use AI PORT to speed up the internal review process. AIPORT is very effective finding errors of omission and is helpful to an appraiser in correcting reports BEFORE a Checklist Charlie ever sees that report.
 
Paul Kinuthia said:
That article says rates are expected to be in the low to mid 5s for 2019, so roughly the same as where they are right now. Not 4%
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Correct, I was not disagreeing with someone who said they were going up, I was agreeing with them. Someone else had said they were not and I challenged that persons contention by providing proof. Via the Link.
 
The Attached PDF is all MLS closed sale in the last 60 days in five County's Mecklenburg, Gaston, Union, lincoln and Cabarrus

This other Stat is the same time period one year ago

3,597 SFR sales closed Thats a lot of appraisals even if only half of them used an appraisal - 1,798
4,057 SFR sales Closed one year ago same period of days half of those 2028 sale
Also this does not represent any REFI's. in either period of time

of that number there were 741 New Construction purchases
one year ago same time period 851 New Construction purchase.
 

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