What to do next?

[Jim Hill]

I am sitting here thinking about what I want to do next.

Gas prices are go crazy and higher each day and appraisal work has been very slow.

It's time to figure out do I sign up for the 30 hours of C.E. and wait and see what happens with the New National Valuation Service after Jan. 1, 2009?

I don't want to work for any AMC offering $175.00 for appraisals and the mortgage brokers appear headed to FHA work or the highway which ever is closer.

Rising costs of gas and everything else and not much work are making it hard to stay in this business right now.

I knew with the New education requirements in 2008 we would lose a lot of new people getting out but I never thought I would see so many Certified Apparisaer leaving the business.

How many of you are thinking about the future and if we will be here to see it when it comes?

Jim Hill

 

[Pamela Crowley (Florida)]

At least keep the license current, Jim.
No crystal ball here, so I don't really know what is going to happen. At least keep the license current.

 

[Karl]

At least keep the license current, Jim.
No crystal ball here, so I don't really know what is going to happen. At least keep the license current.

At Least till June 30th 2008!! You may find some work after that date.

 

[stefan olafson]

I'm in the same situation. Gas was $3.59 here yesterday and I cover northern MN, from the Red River of the North to points East. I need my 30 hours by the end of August and can't seem to find a way to pay for them right now. Clients are becoming difficult to collect from and the fees seem to be trending downward. There are few reputable appraisers in my coverage area, but that doesn't stop them from undercutting a living wage appraisal quote to run out and do them for nothing!

I'm looking for more and more non - lender work, work away from the pressure to hit a number!

 

[panappr]

I am sitting here thinking about what I want to do next.

Gas prices are go crazy and higher each day and appraisal work has been very slow.

It's time to figure out do I sign up for the 30 hours of C.E. and wait and see what happens with the New National Valuation Service after Jan. 1, 2009?

I don't want to work for any AMC offering $175.00 for appraisals and the mortgage brokers appear headed to FHA work or the highway which ever is closer.

Rising costs of gas and everything else and not much work are making it hard to stay in this business right now.

I knew with the New education requirements in 2008 we would lose a lot of new people getting out but I never thought I would see so many Certified Apparisaer leaving the business.

How many of you are thinking about the future and if we will be here to see it when it comes?

Jim Hill

Jim, I have to believe that most mortgage appraisers over 20 years have already given thought to leaving the business and finding something else to occupy their time. While the others are hoping that it becomes a respected profession with adequate compensation (they may go broke in the mean time). I like the NVS, but I feel that we are in a large downturn with so much competition for existing business, it will be difficult for anyone to overcome the larger entities already established. New regulatory policies seem to be coming at an interesting time. With "skippy" being forced out of the business as more qualified appraisers are available to fill the needs of the management companies (problem solved), and new policies forcing the quality independent appraisers to shut down, surviving will depend on your own personal financial situation. Even I am debating whether to invest more money (CE, Ins, Data, etc) and time in a "profession" or industry with diminishing returns. Going to work for the AMCs will be turning the clock back 15 years for most appraisers.

 

[panappr]

No crystal ball here, so I don't really know what is going to happen. At least keep the license current.

Hey Pam, I believe I will, as my addiction for property valuation is much like my addiction to golfing, which is also becoming more expensive.

 

[chad hampton]

I moved out of FL last week to take a job in the carolinas. My new job is outside of appraising, but I also fortunate enough to have a degree and have only been in appraising for 5-6 yrs, so it wasn't that tough to get back into my old profession (engineering).

I have no idea what those more seasoned appraisers are going to do. When your in one profession for 10-20 yrs, it's tough to get into something else, at least for the same pay that appraising was providing. I feel bad for all the good people out there that are stuggling right now.

I am in the process of getting an NC appraiser certification and will try to do some appraisals, but only part time for extra money. I am thinking I will always take the FL CE every 2 yrs and keep my Fl cert active. It was too damn tough to get, I wouldn't want to have to start over again should I ever need to go back to FL.

I do believe that the day will come when an appraisal certification will be VERY valuable. I just don't know how long until that day comes. Keep your license active!!

 

[Tudor]

Jim,

I am thinking and feeling the same thing here.

Karl, what happens after June 30th 2008?

 

[Mike Boyd]

At least keep the license current, Jim.
No crystal ball here, so I don't really know what is going to happen. At least keep the license current.

.........and, get on the FHA roster if you are not already. I think there will be more and more FHA work which will become part the the Fed's bail out for homes in foreclosure.

 

[Michael Tipton]

With the appraisal market slow, AMC fees being below $175 or thereabouts, gas and food prices increasing I will let others complete AMC work. I don't see how anyone can make money completing AMC work locally.

I have already completed the CE requirements for the period and am looking forward to paying the reduced renewal fee later this year. I believe the number of Florida trainees should drop after the next renewal period due to lack of work/reduced income and the requirements to upgrade to CR or CG.