Volumes - What do you think it means?

[Joe Flacco]

It will be like this

 

[J Grant]

Comparing things back to covid days ...we know there was more than double the volume back then. With the tremendous volume during covid 2020-2022, the percent of waivers did not matter.

Now that volume is down by aprox half, any % of value acceptance/waivers is keenly felt. Imo the market will never see the kind of super low interest rates and high volume like that esp for an extended time. The covid volume was unique because it lasted for over 2 years. Most intrest rate driven voume is short a burst of activity lasing 3-8 months (avg) then slowing down again.

The reduction in the amount of res license appraisers will not make up for the GSE value acceptance and PDR collection impact.

 

[Tom4value]

Again, I go back to when I was an itty bitty appraiser in 1992. I was told I would be obsolete in 6 months. When they lowered the threshold for appraisal mandatory requirements, I would be obsolete. When Covid came and people didn’t want me in their homes, I would be obsolete. Was the best 2 years of my career. When hybrids and desktops came out, I would be obsolete. Just 9 months ago I was told I would be obsolete in 6 months.

Bottom line, when people are choosing the biggest purchase in their lives, they want to know if they are making the right decision. Zillow and other internet programs didn’t change that. Maybe in So Cal and other data rich markets but here in wonky New England, not so much.

Oh, eventually AI will make us obsolete but hopefully it will be when I am watering my lawn at 6 am and telling the squirrels to get off my bird feeders!

 

[Surf Cat]

Oh, eventually AI will make us obsolete but hopefully it will be when I am watering my lawn at 6 am and telling the squirrels to get off my bird feeders!

That's funny.....my brother is religious about his bird feeders in Seattle. The meticulous way he sets them up, the amount of food, the water for their bath.
He didn't mind the indigenous chicory squirrel. They were polite and would take the food they needed and be on their way. The brown squirrel, they would just come in and trash the feeders and take all the food. He would take those guys out with our father's Ithaca .22 rifle.

 

[Zoe]

Again, I go back to when I was an itty bitty appraiser in 1992. I was told I would be obsolete in 6 months. When they lowered the threshold for appraisal mandatory requirements, I would be obsolete. When Covid came and people didn’t want me in their homes, I would be obsolete. Was the best 2 years of my career. When hybrids and desktops came out, I would be obsolete. Just 9 months ago I was told I would be obsolete in 6 months.

Bottom line, when people are choosing the biggest purchase in their lives, they want to know if they are making the right decision. Zillow and other internet programs didn’t change that. Maybe in So Cal and other data rich markets but here in wonky New England, not so much.

Oh, eventually AI will make us obsolete but hopefully it will be when I am watering my lawn at 6 am and telling the squirrels to get off my bird feeders!

You have so many players that are in it for themselves where you are in it for public trust. You (appraisers) are the unbiased link.