The Appraiser Shortage Myth Part 43

[Mr Rex]

I don't know any business that wants cost plus unless you are a government defense contractor whose basic fee is already inflated by 50% or more and the tax payer covers the plus part of the equation. Nobody is going to cover a cost plus model for appraisers and even if they did it would have no positive effect the lenders would simply tell the borrower how greedy appraisers are but don't worry soon everyone will have PIW where the borrower simply pays $200.00 to get the appraisal waived. BINGO-- NOW THAT'S A GOOD COST PLUS MODEL.

General contractors LOVE cost plus jobs. Win win.

 

[Evincere]

Thanks, I needed the laugh the way this day has gone so far

Laugh all you want. But Laughing wont negate the fact the AMCs who have collected fees directly from Borrowers have gone bankrupt and the Lenders cannot be held responsible as they did not collect the appraisal fee.

 

[Evincere]

Thanks, I needed the laugh the way this day has gone so far

Laugh all you want. But Laughing wont negate the fact the AMCs who have collected fees directly from Borrowers have gone bankrupt and the Lenders cannot be held responsible as they did not collect the appraisal fee. I would also like to see the cases where an AMC successfully sued the Lender for non payment of Appraisal fees?

 

[TRESinc]

Laugh all you want. But Laughing wont negate the fact the AMCs who have collected fees directly from Borrowers have gone bankrupt and the Lenders cannot be held responsible as they did not collect the appraisal fee.

well if those AMCs are gone now what's the problem?

 

[Evincere]

well if those AMCs are gone now what's the problem?

Do you sweep the red carpet prior too or subsequent too dannys postings.

 

[TRESinc]

Do you sweep the red carpet prior too or subsequent too dannys postings.

neither.

 

[Terrel L. Shields]

now what's the problem?

the unpaid invoices perhaps?

 

[timd354]

Phil himself threw that out about 18 minutes into the most recent show He also made a quip (just short of 24 minutes in) about how maybe someone could call me up and get a statement about it. I guess his Google must be broken, or he lost my contact info (I have emailed him before, so he should have my contact info), because he certainly did not call or email me prior to throwing out some pretty big unfounded speculation.

Apparently, a topic that has been discussed on this very forum had escaped PC's radar. So, when I posted something that he did not know, he made some BIG assumptions about the source of my information.

I will just add it to my list of falsehoods that are known to be true

Phil's show is all about telling his audience pretty much exactly what they want to hear which is that everything about the appraisal profession now sucks, everyone is screwing over appraisers and exposing numerous conspiracies against the appraisal profession..I guess this is just another conspiracy that he decided to throw out there....must have been a slow day and he ran out of the other pablum that he feeds his audience

 

[Michigander]

When we end up having more waivers and fewer appraisals, will even the perceived shortage continue?

http://realtormag.realtor.org/daily...om_rid=7412776+&Om_ntype=RMOdaily&om_mid=1967

 

[Deleted member 130081]

You are free to believe whatever you choose to believe. All I know is that I would LOVE cost plus and I have not yet met anyone in management at an AMC who would not favor cost plus.

I am sorry if you feel that me pointing out something that is just a fact is an insult. And, I never said that there were not real problems, because there certainly are real problems. However, changing to cost plus will not solve the "fee problem" the way that some appraisers think that it will. Fees are driven by appraiser behavior in a market. Going to cost plus will not change appraiser behavior.

LOL. Okley dokley DW. Way to get in there and respond with precision and accuracy. Let me get this straight, you are the Chief Appraiser @ Service Link?

Lets take a test if you dare. What is wrong with the following statement?

"The market value of the subject is $200,000, in consideration of an exposure time of 3 months."

Have at it Chief Appraiser.