# Any Real Estate Appraisers?



## MN Gardener (Jan 23, 2008)

Are there any real estate appraisers around? If so, how do you feel about the new regulations / education, etc?


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## Dutchie (Mar 14, 2003)

I am a Certified appraiser. Which new regulations are you referring to?

As far as the increase in education requirements go, I am all for it. Since licensing became effective after the Savings and Loan disaster, our profession has slowly gone down hill. I do a lot of review work and the crap I come across is appalling. I would like to see our profession to get back to the level it used to be.


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## MN Gardener (Jan 23, 2008)

I am talking about HVCC. I have several clients that used me for 80+% of their business, never had issues with me and never tried to pressure values from me. Now I can't get anymore then 30% of their business. Now I have to deal with AMC and if my fees are not low enough, they will give the orders to appraisers that live 200 miles from here and really do not know this market. That is what frustrates me the most. I never let one client be more then 20% of my business so that if they had a problem with value I can tell them to take there business else where without hurting my income. 
I am all for the education requirements, we really need to have some more credibility put back in our profession. I have 2 associates degrees and am almost done with a BA and usually do more continuing education that necessary to stay on top of things. I do feel FHA should allow licensed appraisers with 2 - 3 years experience do SFR that are under $200,000. I think a licensed appraiser is more then able to handle that. I can understand having a certified appraiser doing 2-4 units, due to the income generated.
I am just frustrated in the drop in business and the AMC. FHA requiring certified appraisers has not helped either. There are some lenders that will pull an AVM if an appraiser is licensed and pick it apart if the AVM is not close to what the appraised value is. My area is so diverse that these are not ever accurate, so lender won't use someone who is not certified. I have enough credit hours, but I do not have the "right" classes. Those classes are going to cost me $1200+ and the last one is not offered here until the middle of August. So I will basically be slow until then. It sucks because I already passed the test with flying colors and have the 3000+ hours of experience! I am hoping to finish my 4 year degree in the meantime and am wondering if I should just try to get a job in that field. Might be easier, since there would be no chance of being witch hunted! LOL I do like the appraisal field, just getting a little frustrated (can't tell, can ya?)


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## Dutchie (Mar 14, 2003)

I think that the HVCC is one of the worst things that has ever happened to both the appraiser as well as the borrower. I believe that the only person benefiting from this "idea" is Cuomo .... as a resume booster.

You have brought up several good points:

1. AMCs .... there ARE AMCs out there who will pay full fee. Those are the majority of MY mortgage clients. As I am predominantly a rural appraiser, my fees are considerably higher than when I do an urban or suburban appraisal. And I will not take a lower fee. I can stay at home and not make money. I do have some other AMCs as clients but work for them sporadically .... when they are desperate enough to be willing to pay my fee. And frequently those AMCs are a pain in the butt so I add a PIA charge to my fee. (I am sure you know who they are).

2. FHA and Licensed appraisers: Several states have already done away with the Licensed level and in my humble opinion, all states should follow. The education requirements for Licensed vs Certified are significant and I don't believe that a Licensed appraiser, generally speaking, has the education in Income and Cost to do an adequate job. But that is just my opinion based on what I have seen as a reviewer.

3. Lowballing appraisers coming from 200 miles away.

My partner and I cover most of Oklahoma. I do not think that any distance is an issue, but whether or not the appraiser is "Geographically Competent", which is a USPAP requirement. Many AMCs are waking up to the fact that with $200 appraisals, you get what you pay for. Personally, I rather eat beans (and I have) than hire myself out while barely recovering my cost.

If you would like to get in touch with other appraisers to commiserate or just have other people to bounce ideas off, come join us at http://appraisers.freeforums.org

As soon as you sign up, log in and send me a PM (Annemieke Roell) with your real name and location so I can give you access to the "Appraisers Only" section.


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