The End Of Appraisers!

[Calvin the Airedale]

There are a lot of "green shoots" that may turn out not to be weeds. I don't know about the resi side of the business, but on my side, there's optimism. I even have my Cleveland office up and running ...

Your Cleveland office? Hey don't you owe me a dinner? (re: the transfer of ownership via LLCs).

 

[texaskeith]

The right to bear arms is for militiamen. If you're not in the militia you shouldn't have a gun. If you are in a militia then your gun should be kept in a bunker with the rest of the guns until needed.

LOL... That's for the gun nuts.

You should stay in the bunker until needed. When you need a gun you better have it on you. Be it a wild pig or a would be robber. There will be no time to run to the bunker

 

[goumcanes]

Great post Howard...very good read and very accurate.

1) Once upon a time everything was great.
2) Then we started to see things we could not believe but continued on as things were great.
3) Then things started to be less great and we continued on.
4) Then things started to fall apart and we continued on.
5) Then things IMPLODED and everything went to SHXT and most of us continued on.
6) NOT YET: Then things stabilized and some of us continued on.
7) NOT YET: Then investors demanded quality reports, too big to fail banks were restructured, AMC's management teams went back to selling the pet rock, community banks lent money again and something replaced fannie/freddy which changed all the report requirements again.
8) We figured it out and continued on.
9) goto 1 above.

Right now many (Lenders, Realtors, Homeowners, Ben Bernake) have discounted residential appraisal or at least set it aside in the name of effecting a recovery in the real estate markets. For the most part the only one buying mortgages is the Federal Govt or by extension the taxpayer. The FED chairman and others are hoping that we see light at the end of this very dark tunnel before market forces cause interest rates to spike higher, thus making the costs of purchasing these mortgage originations too high for government to keep pace with.
By then it is hoped a recovery will have occured and investors will once more be in the market purchasing mortgage backed securities. In the meantime and in regards to most workouts, shortsales, foreclosures or other lending transactions; a full appraisal is thought to only contribute to the cost to the consumer for credit and other less expensive valuations are good enough said current circumstances.
Oftentimes it is forgotten why we needed something in the first place. Things run through cycles and the why is rediscovered at some future date and acted upon as though it is the leading edge thinking of the day. I suspect, if and when real estate recovers to the extent investors are once again interested in purchasing mortgage backs, investors will require detailed and well documented full appraisal services for most transactions.
Will the industry look different? Yes.

 

[Tom Woolford]

The theme of all such threads: "When in danger, when in doubt, run in circles, scream and shout!"

Was it Laz or Lor that said that?

 

[Mountain Man]

This is one of those "sky is falling" threads. I've never seen more of them on AF since when I first joined than over the past month.

No kidding... apparently just another newbie in the 'gators mouth being spun in the death roll. Diversification is the key to surviving in ANY biz.

 

[rescom]

I hope no one breaks into your house to rape your wife or daughter. I'm sure you will be comforted when the forensics team shows up to bag her body, and you can proudly say you don't believe in guns.

Dude. Thats a bit graphic don't you think? I'm not sure if mentioning rape in any context is appropriate, especially on a professional forum.

How about this for a senario. Someone breaks into your house unarmed. You confront them with a gun and they wrestle it away from you. They then shoot you and your entire family. Boy, having that gun really paid off, huh!

Bringing more weapons into play is not the answer. I hear 10 times more stories about people or their kids accidentally shooting themselves instead of how their gun protected them against an intruder or other criminal.

 

[Mr Rex]

Res, you need to check out this commercial:

http://s409.photobucket.com/albums/pp174/larry0071/Random Videos/?action=view&current=Gun.flv

 

[CANative]

You should stay in the bunker until needed. When you need a gun you better have it on you. Be it a wild pig or a would be robber. There will be no time to run to the bunker

Oh yeah?! Well, your mother wears army boots. So there. lol

 

[rescom]

Res, you need to check out this commercial:

http://s409.photobucket.com/albums/pp174/larry0071/Random Videos/?action=view&current=Gun.flv

Well thats just fine and dandy. My point is that there are more family shooting accidents because of gun possession than there are actual cases of having a gun actually protecting a family against a criminal. Suppose you go to shoot the intruder and you miss, and it goes through a wall killing one of your kids or wife. Could you live with that?

I chose to keep deadly weapons out of my house. What is wrong with a tazer or stun gun? You or your kids cannot kill themselves with one of those, yet it will completely immobilize any intruder. And here's the best part. Everybody stays alive, and you get to enjoy watching the criminal rot in jail. Killing them would be letting them off the hook.

Thats just my view on it.

 

[Calvin the Airedale]

This is off topic but what the hey.

Accoridng to Steven Levitt & Stephen Dubner, in Freakonomics, First Harper Perenial Edition, 2009, Chapter 5, Page 150: about 175 children (on average) die each year from gunshots (1 death for each 1 million guns). However, there is one child drowned for each 11,000 swimming pools.

The risk of your child drowning in a pool is far, far, far greater than his or her risk of being shot to death.

Conclusion, those whining about shooting deaths, terrible as such deaths are, would save many more lives if they devoted their energy to banning swimming pools.