StreetLinks - New Limited Desk Review Product

[CANative]

You just don't get it Tony. You shouldn't be involved in this industry.

 

[Pittsburgh Pete]

...Like yourself, I am removed from the AMC world and the GSE fiasco but it still gets me to hear Tony come on here and wax poetic about things that have zero affect on him professionally and his only interest is his company's parasitic bottom line. I get nicer as the week progresses. I promise:icon_mrgreen:

Yet another reason to look forward to Friday!

 

[Pittsburgh Pete]

You just don't get it Tony. You shouldn't be involved in this industry.

a bit harsh--he is only connected with one sector of the industry that is changing rapidly, if you haven't noticed. That sector of the industry is adapting to market demands which have resulted in increased demand for cheaper and faster in the form of AVMs and BPOs. Mr. E's product at least keeps the appraiser in the rapidly shrinking loop. While he is undoubtedly operating in his own self interest, aren't we all. Bottom line, his self interest will benefit the residential mortgage appraiser. Go figure!

 

[DJBanas]

Greg:

Need a little something to get over hump day? You seem to be in a bit of a mood.

 

[CANative]

Pete... Did you open the link to the report form? Did you read it in it's entirety? Did you do so while reading from SR3?

I have reviewed the comparables selected and agree that they ARE the best available as of the effective date of
the Original Appraisal Report, the most appropriate for comparison to the subject property, and adequate to reconcile the Sales
Comparison Approach to value.

How is this NOT providing the reviewer's own opinion of value?

And Tony has yet to suggest what they anticipate fees to the appraiser are estimated at. $25 to $50?

 

[Pittsburgh Pete]

Pete... Did you open the link to the report form? Did you read it in it's entirety? Did you do so while reading from SR3?



How is this NOT providing the reviewer's own opinion of value?

Know nothing of the specifics and given that I don't do appraisals for residential mortgage financing, I don't particularly care. However, those that do have to do something different or they are doomed. The handwriting is on the wall. Alternatives to the standard 1004 are popping up everywhere--those wishing to swim in that particular pool have to be open to alternatives.

Not endorsing any particular alternative--just stating that alternatives need to be considered.

 

[CANative]

Read the S/L form while you're reading SR3. Conflict after conflict.

I'm really surprised that Barry Webbed Feet hasn't post a lengthy rant about this. Or that Hatch hasn't chimed in with a brilliantly articulated opinion.

What's the difference between an AVM with hundreds of hits as opposed to a desperate fee appraiser with nothing better to do than do a comp check disguised as an appraisal review?

 

[Kevin Mc]

I can't see how that's bad for the appraisers who choose to provide this service.

Sure, afterall they are just offering an "opinion", not of value, just an "opinion"....m2:m2:m2:....I'm sure the idiots are lining up as we speak.

 

[Doug DeMars]

Kevin,

Upon product launch (next week), StreetLinks will immediately be converting 3,000+ AVM orders - monthly - to a product provided by local appraisers. We anticipate this volume to grow significantly over the next several months. I can't see how that's bad for the appraisers who choose to provide this service.

Tony Ebeyer, COO
StreetLinks National Appraisal Services

Converting? Converting?!

It's not necessarily "bad" for the appraisers who choose to provide the service. But I would argue that it's bad for the end users.

Honestly, AVMs are just fine as the double check or triple check and are only as useful by those that fully understand their limitations...often significant limitations. Unfortunately, some end users are expecting the appraisal to match up with the AVM vs. the AVM matching up with the appraisal. This product sounds like a waste of time and money in an attempt to "bridge the gap" between what should be a properly researched and reported piece of real estate and the grade card giving the thumbs-up on the execution of said report.

As far as I'm concerned, I wouldn't pay a dime for this product as it would not give me any significant comfort about the credibility of the original appraisal. As far as I can tell, AVMs are basically free...why are you trying to compete with free?

Who in the world wants to buy this product? Hasn't the lending world learned yet that fast and cheap make for poor business decisions?

There is no shortage of qualified people to do a credible job reporting the market value of residential real estate the first time around. And the vast majority of their fees are pretty darn reasonable.

I will have to say that after what I've learned about this product, my opinion of Streetlinks has not improved.

 

[residentialguy]

Tony:

I don't know if this is a perfect solution but it seems to me that if you keep within the parameters you set forth this product can be very useful.

Good luck with it.

P.S.: I have no relationship with StreetLinks.

It will be useful in helping eliminate appraisal work.