What do you feel is a reasonable and customary fee for your FHA Appraisals?

[Ariba]

Same - $400+.

FHA can bring about quite a bit of after the fact work on some occasions.

How many +$400 FHA appraisals have you completed recently.

 

[residentialguy]

Umm did you miss the FHA SOW?

Well, maybe you just appraise tract housing in one development. Most CRs do different degrees of complexity reguiring a more complex SOW, which requires a greater fee. I am doing a FHA historic home on the St Croix, which is a $1,000 fee. Different SOW then some $150k 2 story cookie cutter in a Mpls suberb that I would charge $450.

Like I said...What's reasonable? I don't know...what's the address?

 

[William K]

$415 has been my fee since the 1004MC became required.

 

[Mr Rex]

Well, maybe you just appraise tract housing in one development. Most CRs do different degrees of complexity reguiring a more complex SOW, which requires a greater fee. I am doing a FHA historic home on the St Croix, which is a $1,000 fee. Different SOW then some $150k 2 story cookie cutter in a Mpls suberb that I would charge $450.

Like I said...What's reasonable? I don't know...what's the address?

Yeah they all are the same, all REOs do not meet the defintion of market value, and owner occupied sales define market value. In every market.

 

[residentialguy]

Yeah they all are the same, all REOs do not meet the defintion of market value, and owner occupied sales define market value. In every market.

2 out of 3 ain't bad!

 

[Mr Rex]

It's not hard to imagine why you maintain a high level of available work.

 

[residentialguy]

Yeah, what can I say. My clients do appreciate accurate appraisal values!

 

[PropertyEconomics]

Just like appraisers wanting to assign one price for a multitude of different complexities ... well I hope when you get easy they make up for the hard.

SIGH .... this is becoming a very tough profession.

 

[Mr Rex]

I think some would disagree, you just must go along to get along. I think that's how its rationalized

 

[Lloyd Bonafide]

I would say $400 to $450 also, because that's what I used to get before the HVCC. I still have one direct lender client that pays $425 for FHA, but every other current client I have typically pays $350 to $375 and sometimes up to $400 for FHA.