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Thanks For The Raise

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OSU Beavers

Elite Member
Joined
Jan 10, 2007
Professional Status
Licensed Appraiser
State
Oregon
All summer I have been quoting $750 across the board for in town SFR appraisals on the 1004 and have been getting as high as $1700 for rural properties that nobody else wants to deal with. It looks like the VA has finally taken notice and raised their SFR fees in my rural county from $500 to $700. But WTH, the urban area of Oregon now gets $780? When I started the standard fees where $300 in Portland and $400 for us country bumpkins.

http://www.benefits.VA.gov/HOMELOANS/documents/docs/denver_fee.pdf
 

OSU Beavers

Elite Member
Joined
Jan 10, 2007
Professional Status
Licensed Appraiser
State
Oregon
Is it the higher Cost of Living or Median Home price in the Portland to Salem corridor? Well that is one point, however other than housing and minimum wage, the costs goods (gas, food, retail consumer items) are actually cheaper in the big city. The way I see it, an appraiser in Salem, Oregon can knock out five cookie cutters a week all in the same city with no trouble finding comps. Here in the rural I am lucky to have time for three a week with all the driving from one triple digit town to another trying to find three manufactured home sales that weren't actually between relatives. You all have seen the properties I get to appraise.

The old LandSafe fee sheets even had us in area 3 with the highest fees. Funny, LandSafe is still trying to pawn off $425 minus the AppraisalPort charge as "Market Fee". Of course since they are now calling themselves CoreLogic we can just remind them that the other CoreLogic has been paying $750 all summer.
 

KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
All summer I have been quoting $750 across the board for in town SFR appraisals on the 1004 and have been getting as high as $1700 for rural properties that nobody else wants to deal with. It looks like the VA has finally taken notice and raised their SFR fees in my rural county from $500 to $700. But WTH, the urban area of Oregon now gets $780? When I started the standard fees where $300 in Portland and $400 for us country bumpkins.

http://www.benefits.VA.gov/HOMELOANS/documents/docs/denver_fee.pdf

Those are exceptional fees, congratulations. I heard several months ago that specifically Oregon and Washington appraisers were mostly 3-4 weeks out on appraisals, even in town cookie cutters. Something must be brewing in that housing market. The fees reflect current supply/demand for appraiser services in that area? I'm jealous.
 

OSU Beavers

Elite Member
Joined
Jan 10, 2007
Professional Status
Licensed Appraiser
State
Oregon
I should have been making bank this summer, but with a ton of unnecessary stips with revision requests, continuing education, time off to run kids to and back from camp, a sudden death in the family and health problems of my own I never did break five figures in a month.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Those are exceptional fees, congratulations. I heard several months ago that specifically Oregon and Washington appraisers were mostly 3-4 weeks out on appraisals, even in town cookie cutters. Something must be brewing in that housing market. The fees reflect current supply/demand for appraiser services in that area? I'm jealous.

Not necessarily exceptional. For example if the typical home is so complex that the assignment takes me a week? You catch my drift. Another factor might be the typical home is worth a million. I could go on. I really wish C&R had more specifics. :)
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
On the other hand, I really think things like rural markets as well as the poverty level in a market can make it as complex as anywhere. The level of heterogeneity and homogeneity is crucial to complexity.
 

KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Not necessarily exceptional. For example if the typical home is so complex that the assignment takes me a week? You catch my drift. Another factor might be the typical home is worth a million. I could go on. I really wish C&R had more specifics. :)

Right..but if you read his list and comments the standard fee for urban areas in Oregon (Portland metro has roughly 2.5 million) is $780 out of the gate. Most city/suburban appraisals are not complex.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Right..but if you read his list and comments the standard fee for urban areas in Oregon (Portland metro has roughly 2.5 million) is $780 out of the gate. Most city/suburban appraisals are not complex.

It boils down to location. It varies so much in so many ways.
 

Tony V

Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
I should have been making bank this summer, but with a ton of unnecessary stips with revision requests, continuing education, time off to run kids to and back from camp, a sudden death in the family and health problems of my own I never did break five figures in a month.

Be thankful that you were able to get those fees...although I don't have much lending work so stips were not involved....I have had some similar issues this summer including chemo. If the fees were lower you could have been in $$ trouble.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Chemo and family health problems make everything else seem small sometimes. I know the time and stress they can put on you. I have experienced similar things with my family lately. My prayers are with you both and all others going through similar complexities. Hang in there!!!!
 
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