Slow?

[Gregory Beck]

If we think it is slow now, wait until spring.

http://www.chicagotribune.com/class...13-kenneth-harney-column-20161110-column.html

December 2016 was my slowest month of the year.

 

[David Thompson]

December is usually slow but this year was the worst. Slowest month of my slowest year in the last 20 years.

 

[Riick]

Dead? Humm... my deadest client suddenly woke up and started sending orders.
In any event your friend at the Trib was just talking about same thing Fannie's been doing.
Effectively, as I understand it, no appraisal if there's been an appraisal in last few years,
and then, not for origination of first mortgage, only for refinances - and then, only for (percieved) low LTV ratio.
Could indeed hurt, long-term; but, with rates going higher, number of refi's will be minimal for years.

 

[Joe Flacco]

It is just slow time of year in the northeast. Happy to take a break. I'm going to go find out if my 15 month old can snowboard.

 

[TRESinc]

looking back over 2016 the worst month for me was january followed by february and then december. all of them however (with the exception of january) were better months than sept-dec 2015.

 

[BarrySW1963]

We are dead. Only orders coming in are terrible, with low fees. Gone in minutes. Ones we get are hard to schedule - weak commitment from the borrowers, or the lender pulled the trigger to fast to order.

If we think it is slow now, wait until spring.

http://www.chicagotribune.com/class...13-kenneth-harney-column-20161110-column.html

That makes my blood run cold.

I see the day coming when they just send a runner to take interior pics and pay them $25. I think some of the REO companies are paying as little as $7 for some "services" where someone has to go out to a property.

 

[GWISC]

So, will the computer verify the transactions of each sale to make sure they are arms length or non arms length or that they are at least at market level and relevant to the subject? Will the computer tell you when the subject has a foul odor due to a wide number of reasons? Will the computer will be able to differentiate between higher priced sales with recent new additions which are not in the assessor's data at the time of sale? What will the computer determine as comparable for a newer house on a fill-lot amongst older dwellings?

I think they are short sighted. When their treasure trove of data becomes stale after countless properties are remodeled or fall into ruin, what then? There maybe too few appraisers left in the industry to help refill their data bases. Also, who will the real estate agents blame when the value comes in just short of the sales price?

I think this will lead to bogus sales within every market. I know of an instance where one real estate agent manufactured a sale in the MLS. She and her husband owned a home construction and real estate company in a smaller rural and remote village. The construction company built a house and then sold it to the husband of the company (the construction company was the grantor) at a price well above any other sale in the area just so appraisers would have a "real comparable" in her market. She admitted this and saw nothing wrong with this. I never used this sale and commented on the fact the sale was not legitimate and so was not considered. It won't take long for every market to catch onto this type of scheme. This would likely fool any AVM just to make deals pass.

Perhaps this is just paranoia, but this new program will start small and get larger as time goes on and the lenders will like the elimination of "buy back liablility" and will clamor for expansion for more customers.

Just my 2 cents.

 

[bnmappraisal]

I've had 2 new orders so far this year. Not the greatest start, but from I hear, many are slow(er) this time. 2016 was a great year though

 

[CindyR]

I've had 2 new orders so far this year. Not the greatest start, but from I hear, many are slow(er) this time. 2016 was a great year though

So glad to hear that! i thought it was just me !

 

[David Thompson]

Not just you. I have had 5 orders so far in January but went a week between the last 2 requests. Got one yesterday and glad to have it!