Waivers 50%. Hybrids 30%.

[alebrewer]

Only time I saw obvious decline in prices was right after the big crash in September 2008. In past 10 years, can't recall I ever indicated a decline in market.

here ya go, Fern. This is Oakland over the past 5 years...

 

[Surf Cat]

here ya go, Fern. This is Oakland over the past 5 years...

View attachment 104431

I don't think Fernando goes to Oakland because the peasants are there. He only goes to the areas where it's stable and lots of sunshine...

 

[djd09]

Yes. If you do the Google search that I suggested to Fernando, you will find several cities with declining prices in 2025. There are many appraisers in those cities who do their jobs as they are supposed to and don't just mark "stable" and move on.

do you have access to CU and ace...

 

[shrubberyvaluation]

I feel like there are a lot more waivers getting my orders cancelled. Mostly getting FHA orders.

 

[Fernando]

I don't think Fernando goes to Oakland because the peasants are there. He only goes to the areas where it's stable and lots of sunshine...

Yes, I don't go to Oakland where crime still persists.

Yesterday, I was hungry and stopped by at a McDonald in gentrified part of San Francisco.
Though "newer" buildings have been built, the area still has shaddy characters and made me feel uncomfortable.
Still nervous inside, I accidentally dropped a $20 bill onto the floor without realizing it (too much cash in pockets).
A guy who I think works there was telling me I dropped something. Was he talking to me?
Then he went over and pick up the money and walked to me and gave me the bill. Thanks.
What a nice guy. After I got my food, I went over and gave him a $1 tip. I appreciate great service.

 

[chad hampton]

I use the term “shady characters” in a lot of my appraisals

 

[Fernando]

I use the term “shady characters” in a lot of my appraisals

Some just look shady like Tr***p. Can't trust him.

 

[djd09]

...

 

[djd09]

Panic as home values plummet in half of the biggest US cities​

Nearly half of America’s biggest cities are now seeing home prices fall — a sign that cracks are spreading through the once-booming housing market.

Across the US, the cost of a single-family home rose just 1.5 percent in August compared with a year earlier, according to the S&P Cotality Case-Shiller index.

That marks a slowdown from July’s 1.7 percent increase — and the weakest annual growth since 2023, when soaring mortgage rates and poor affordability briefly sent prices into reverse.

Of the 20 major metros tracked by Case-Shiller, nine recorded outright price declines, while 13 rose more slowly than the national average.

'August's data shows US home prices continuing to slow,' Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, told Realtor.com.

'For the fourth straight month, home values have lost ground to inflation, meaning homeowners are seeing their real wealth decline even as nominal prices inch higher.'

Florida and Texas were hit hardest. Tampa saw the steepest drop — down 3.3 percent year-on-year — and has now notched 10 straight months of falling prices.

The city, along with others across Florida, is now officially a buyer's markets.

waive them all...i mean blame the appraiser

 

[Fernando]

I think I understand why the use of waivers.
Lenders want to know if the property value is sufficient in case loan defaults.
If low LTV, the risk is low and lenders are willing to go with waivers.
The exact point appraised value is not needed. Just a narrow range is needed and so no need to think so hard.
Yet appraisers are still needed. Appraisers are the eyes, ears, and smell (ugh the human odor smell in the unit still haunts me from recent inspection) to verify information on subject.
Thus lenders still need a real appraiser for better collateral confirmation.