UAD 3.6 discussion

[alebrewer]

(1) This has nothing to do with technology.
(2) This also has nothing to do with technology.

Technically, no, regression has been around a LONG time - but very few appraisers are capable of performing this without some kind of 'tool' (call it a tool if you don't like the word technology). Hence, if the technology (or tools) are available, and appraisers are still using a cheat sheet instead of actual analysis tools, then no - appraisers still aren't availing themselves of current tools. Of course this is a broad generalization, and probably doesn't apply to a lot of folks on this forum - but I see it every stinking day. Appraisers still using $20/foot for GLA measurements, appraisers still using $20k for a pool adjustment (regardless of price point), appraisers still citing 'stable' markets when every single available data point on line shows declining, etc. We could go on and on.

This has to do with doing your job.

This could not be more true.

GSE technology being the gold standard they compare us too is sometimes the problem, it is way out of whack sometimes, even for cookie cutters. Relying on technology that is not reliable rather than doing the analysis yourself is a problem.

Of course. That's a big part of the reason they're still using us.

At some point wouldn't a lender/AMC not want an appraiser using $20 sq ft. adjustments for every appraisal? Its not rocket science when you use $10 sq.ft. adjustments, you have one that is similar in GLA and the others are double the GLA and are adjusting much higher.

I think that's probably a big part of the reason the GSE's don't allow appraisers access to CU. Instead of doing their jobs, many (if not most) would simply apply the adjustments/comparables that minimize the CU score - regardless of the reliability of the score or the quality of the analysis...

 

[chad hampton]

If appraisers are still adjusting it $20 a square foot and making 20k pool adjustments, isn’t this something that should’ve been taken care of over the past 15 years when a third-party was introduced to manage the process? Why are these reports still being accepted?

 

[Non Sequitur]

In the end, if it’s too much of a pain in the *** for the relatively low pay that this profession offers, people will leave. But I suspect most will just decide that while this isn’t really a viable full-time career, it’s not bad for some side money.

I agree. Our industry is rapidly turning into a gig economy. The national firms and AMC's are dividing up tasks in the name of modernization and efficiency, and paying gig work fees. All the while insiders are making bank. The corporate takeover of the industry is here and true independence for GSE work is fading rapidly.

 

[alebrewer]

Can't speak for other lenders, and we don't use AMC's. I'm guessing that question is rhetorical?

 

[alebrewer]

The corporate takeover of the industry is here and true independence for GSE work is fading rapidly.

That, my friend, has ALWAYS been a facade...

 

[chad hampton]

I agree. Our industry is rapidly turning into a gig economy. The national firms and AMC's are dividing up tasks in the name of modernization and efficiency, and paying gig work fees. All the while insiders are making bank. The corporate takeover of the industry is here and true independence for GSE work is fading rapidly.

If the GSE’s had shown even a fraction of the interest in making the appraiser profession as viable for the appraisers as they did the AMC’s, we could’ve survived in a balance.

The risk they run now is they’ve pulled this concept of a thin air that the appraisers real value is sitting in a computer analyzing ****, now I don’t know where that comes from, like most things they do I assume it’s made up. But have they ever thought about asking the appraisers is that what you want out of a career, just sitting behind a desk, grinding out reports 10 hours a day? Everyone I know in this business is in it because there’s a balance of fieldwork and office work.

Cause I can tell you, there’s far more lucrative careers out there if youd rather sit behind the desk 10 hours a day than appraising. So what you will have is a lowering of the quality of individual entering the profession or you will get appraiser who don’t value the professional enough to really care too much about what they’re producing. Sure, they’ll go through the motions, attend the cheapest CE class they can possibly find just to keep their license active, and that’s about it.

And things arent really great in AMC land except for the hedge funds and executives. They grind those employees down to the nub as well. but the breakfast club will always take care of their own. Corruption runs deep.

 

[alebrewer]

Cause I can tell you, there’s far more lucrative careers out there if youd rather sit behind the desk 10 hours a day than appraising.

If the stuff you do behind the desk isn't appraising, what is it?

 

[chad hampton]

If the stuff you do behind the desk isn't appraising, what is it?

I’m not saying that’s not part of appraising, but there’s a field portion of appraising and there’s a desk portion of appraising. Both are equally important and part of the profession.

 

[chad hampton]

Duplicate

 

[J Grant]

If the GSE’s had shown even a fraction of the interest in making the appraiser profession as viable for the appraisers as they did the AMC’s, we could’ve survived in a balance.

The risk they run now is they’ve pulled this concept of a thin air that the appraisers real value is sitting in a computer analyzing ****, now I don’t know where that comes from, like most things they do I assume it’s made up. But have they ever thought about asking the appraisers is that what you want out of a career, just sitting behind a desk, grinding out reports 10 hours a day? Everyone I know in this business is in it because there’s a balance of fieldwork and office work.

Cause I can tell you, there’s far more lucrative careers out there if youd rather sit behind the desk 10 hours a day than appraising. So what you will have is a lowering of the quality of individual entering the profession or you will get appraiser who don’t value the professional enough to really care too much about what they’re producing. Sure, they’ll go through the motions, attend the cheapest CE class they can possibly find just to keep their license active, and that’s about it.

And things arent really great in AMC land except for the hedge funds and executives. They grind those employees down to the nub as well. but the Breakfast Club will always take care of their own. Corruption runs deep.

Some careers, or jobs (churing for an AMC is a job, not a career ) -not all jobs sitting behind a desk are more lucrative, but they are a lot less stressful, and do not require a license and the years to get it and accompanying liability. AND many more deskbound jobs are far more stable - these AMCs lay their staff off when things get slow and appraisals, like all RE is subject to busy and slow cycles.

The same applies for gig work - the insulting idea that wow !! appraisers can do PDR collection! - The idea that "opportunity" makes up for the destruction of a career is ludicrous. While PDR gig work might pay marginally better than DoorDash and such, the pay is not substantially higher, there is no guaranteed volume, and the pressure to deliver on time and scrutiny of the product is immense compared to the more relaxed standards of other gig work..

Most appraisers went into the field for the combination of field work and desk work, but more than that, cutting off an appraiser from the field work and contacts they make out there at the propery giving valuable information makes their analysis far less credible ( and the next gneration of appraisers who rarely get out in the field will be lacking the accumulated experience that is valuabe when it comes to the analysis portion.)