Work quantity

[Fernando]

WTF is negative energy anyhow. Anti matter? I find the rants rather amusing and entertaining.

Ask moderators if they're amusing and entertaining.
AF should pay me to be moderator.

 

[Essexfenwick]

Been appraising since 1985. This is the worst ever. In general the mortgage rates dropped from over 13 percent to 2.5 percent over that time. Now it’s the end of an era and rates have been jacked to 7 percent. I’m sure that the powers that be are hoping to keep the rates up long enough that they can start another cycle of generally lowering rates over a long period but that really depends on them continuing and increasing the fake (way low) official cpi. Actual inflation is close to double what they report since the cpi formula was manipulated in the 90s to obfuscate and minimize the actual inflation rate.

Here’s the inflation chart using the common sense original and accurate cpi formula when the government still thought being honest was important.

Alternate Inflation Charts

www.shadowstats.com

Anyway the Fed is trying to get to a place to juice the financial system again without too many people getting panicky.

As far as our business. It sucks .. getting hit on all sides. No business, centralized and impersonal AMCs, low fees, more regulation, more nitpicking, accusations of all kinds. Whenever the business is poor in real estate the people in it always fake like everything is ok when you talk to them which I get but the detachment from reality is annoying. When agents ask me if I’m busy in a chirpy voice I laugh and say “are you kidding me? There’s zero volume.” Then they let their guard down and start whining along with me.

 

[Essexfenwick]

Me again. Let me give you a little indicator of how f’d up the residential market is right now. I have 3 appraisals I’m working on (sucky volume but thankful)

1… a pre foreclosure sale. Buyer is adding a dead person to the contract because for some reason that helps qualify (don’t ask me I have no idea I just know it’s screwed up)

2) a historic home (slavery past) 400 sq ft and completely dilapidated hasn’t been lived in since the 70s and the buyer tracked down the crazy senior owner out of state to convince her to sell. Can’t increase size. No comps remotely similar. Wealthy area. Buyer afraid the nutty owner will never settle on dilapidated Smurf house.

3) Divorce.. forced refi.

 

[Mark K]

I think you love the GOP as often as you allude to them....

I think she's a closet Republican. The GOP is certainly all she seems to think about.

 

[Mark K]

; then we are talking about making farming impossibly expensive. Here roughly 1% of the value is the tax. So, my neighbor sold her 91 acres and will now have to pay a huge "capital gains" tax... about 35%. So the net from the $950k is roughly 2/3rd the sale. And the taxes annually for the buyer would be what? $95,000?

Top cap gains rate is 20%. Your state may add more taxes on top of cap gains.

...and 1% of $950,000 is $9,500/year, not $95,000.

And the 'poor' farmers mantra. The 'poor' farmers in this area are selling development "ag" ground for $50K to $100K/acre. Its been worth a lot more than ag ground for many years but they've paid a subsidized tax amount of about $100/acre for years. Corporate welfare at its best. The owner of a simple 1/4 acre residential building lot pays the same taxes as a 20 acre tract of ag land that's worth a LOT more than the building lot. But the ag industry also owns most of the politicians.

.... Is that the taxes we want?

What "we" want is a level playing field where all businesses/property owners are treated equally. Heresey, I know.

 

[J Grant]

Me again. Let me give you a little indicator of how f’d up the residential market is right now. I have 3 appraisals I’m working on (sucky volume but thankful)

1… a pre foreclosure sale. Buyer is adding a dead person to the contract because for some reason that helps qualify (don’t ask me I have no idea I just know it’s screwed up)

2) a historic home (slavery past) 400 sq ft and completely dilapidated hasn’t been lived in since the 70s and the buyer tracked down the crazy senior owner out of state to convince her to sell. Can’t increase size. No comps remotely similar. Wealthy area. Buyer afraid the nutty owner will never settle on dilapidated Smurf house.

3) Divorce.. forced refi.

The dead person may have been on the deed or title, and that is why their name was added as an owner

If it is a borrower, how do you know they're dead? An appraiser usually does not get involved with the people or personal info with a contract. For a borrower it could relate to marital assets to qualify idk

 

[Terrel L. Shields]

Top cap gains rate is 20%. Your state may add more taxes on top of cap gains.

...and 1% of $950,000 is $9,500/year, not $95,000.

And the 'poor' farmers mantra. The 'poor' farmers in this area are selling development "ag" ground for $50K to $100K/acre. Its been worth a lot more than ag ground for many years but they've paid a subsidized tax amount of about $100/acre for years. Corporate welfare at its best. The owner of a simple 1/4 acre residential building lot pays the same taxes as a 20 acre tract of ag land that's worth a LOT more than the building lot. But the ag industry also owns most of the politicians.




What "we" want is a level playing field where all businesses/property owners are treated equally. Heresey, I know.

But you don't want to pay over $5 for hamburger - so we buy all that from Brazil or Mexico. You don't want corn flakes to cost $15...OTOH you want cheap food but high taxes on farmers. It's not working very well in Europe where farmers there are marching en masse.

 

[Essexfenwick]

The dead person may have been on the deed or title, and that is why their name was added as an owner

If it is a borrower, how do you know they're dead? An appraiser usually does not get involved with the people or personal info with a contract. For a borrower it could relate to marital assets to qualify idk

Yeah. On the contract all parties agreed to add a person (deceased) as a buyer

 

[Mark K]

But you don't want to pay over $5 for hamburger - so we buy all that from Brazil or Mexico. You don't want corn flakes to cost $15...OTOH you want cheap food but high taxes on farmers. It's not working very well in Europe where farmers there are marching en masse.

All I want is for businesses to be treated fairly and equally. I don't want high taxes on farmers anymore than high taxes on appraisers. I pay more in taxes on my $200K office building than my FIL pays on his 160 acres worth $2M. And you ag people think that's OK, just so long as the farmers don't have to pay their fair share.

With the taxpayer financed crop insurance program, there's more financial risk in appraising than there is in ag.

 

[J Grant]

Farmers should pay their fair share, and if food prices in the USA do, be it. Half the people here eat way too much due to artificially low food prices

Of course, everyone would scream and moan if that happened but we all need to grow up - everyone screams about inflation and the deficit but people can not expect low prices forever - not when the cost of those low prices is really coming out of our pocket in another way or we are wrecking teh environment to make it so-