Turn times.

[Kevin Mc]

You know, and with all due respect, provided the Assessor is accessible by phone or on-line, and the zoning people answer their phones and your questions, 24 hour turns times are easily achieved in many areas.

Granted, there may be issues with that report, but the turn time isn't one of them. I make excellent reports in one day, only rural jobs hold me out longer than that.

Dave...

My sister's home is on 5 acres, 15,000SF and is worth about $6.5 million. it is in no way shape or form a 24 hour job. The appraisal was atrocious and churned out by a mill. My sis paid $1500 for the appraisal, what do you think the chump who did it got? To add to the fact the loan was $1 million. you would think with an LTV of less than 20% the lender could get things moving huh? My point being I know appraisals can be done in 24 hours, I just want to know WTF is the rush when is is taking forever to get things closed?

 

[Mike Kennedy]

Mac - they just need the $$$ bullseye. nooooooooo prob.

 

[xmtpedprl]

Kevin,

Given your extra data I would agree, it was rushed. That one needed some serious thought. My point was, and I did state it clearly, there's no reason any standard subdivision kinda report, with easily accessible data sources, cannot be turned in 24 hours. I could do my own home (or any in my immediate area), for example, in less than a day without breaking a sweat.

Dave...

 

[panappr]

???

Who said anything about three...?

Dave...

OK.... my point was, yes I suppose the possibility does exist to complete an assignment in 24 hrs, IF YOU HAVE NOTHING ELSE ON YOUR PLATE!

 

[xmtpedprl]

Or, and again, if the assignment is very straight forward, and in an area where the data is readily available.

Dave...

 

[starmansf]

Turnaround times are like fee quotes, rubbery. If I can get a report to a client in 24 hours it's better for me. I don't want to look at the thing any longer than I have to. If the check clears the bank in 24 hours they can have the report. I'm not writing Moby Dick for $400.

 

[Kevin Mc]

I'm not writing Moby Dick for $400.

...excellent Mike.

 

[Kevin Mc]

Kevin,

Given your extra data I would agree, it was rushed. That one needed some serious thought. My point was, and I did state it clearly, there's no reason any standard subdivision kinda report, with easily accessible data sources, cannot be turned in 24 hours. I could do my own home (or any in my immediate area), for example, in less than a day without breaking a sweat.

Dave...

No arguement Dave ( how about that huh?) my point was everyone is in a mad rush for what? Lenders are taking longer than ever to clear a loan. In regards to my Sis and her husband, credit, reserves etc... are major non issues. So it seems to me to be hurry up rush for nothing.

 

[Blueprint]

This is the kinda crap to be expected so long as there is an oversupply of appraisers compared to the amount of work available. Most areas are significantly oversupplied with appraisers. As a result, AMC's and greedy style lenders are going to take advantage of lower prices and quick turn times as long as they can. They have the power to make these requirements as long as there is someone willing to accept these irrational requests.

Times will change, at least with regard to fees and turn times. Question is how long will it take for the number of appraisers to dwindle significantly. The quality of appraisals is up in the air and may or may not ever improve as a whole.

 

[xmtpedprl]

Holy cow, watch this:

Kevin, we're in 100% agreement again!

It's the lenders who hold *everything up*, it's never the appraiser, it's just not us. I've even been saying that lately (out of frustration ) to many LOs who still 'play the part' about our 'turn times.'

I just don't get it, I mean, WE'RE not holding up *anything* these days.

Wow, must be sumthin' in the air if McNamara & I are on the same page! Allow me to wish you a happy 4th, my friend.

Dave...