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Started By
Message
Are there any real estate appraisers here?
Posted on 8/4/18 at 8:42 am
Posted on 8/4/18 at 8:42 am
Do you enjoy your job? How is the pay? I just got an appraisal don't on some apartments and I read the entire thing. Seems like it would be a good job.
13
Posted on 8/4/18 at 8:44 am to nugget
Appraisals are such BS. The house is worth what a person is willing to pay for it. I don't need some a-hole To come in, look around for 10 minutes, see what the house down the street sold For, and then put a price on my house.
This post was edited on 8/4/18 at 8:45 am
Posted on 8/4/18 at 8:45 am to TechDawg2007
quote:
ppraisals are such BS. The house is worth what a person is willing
To pay for it. I don’t need some a-hole
To come in, look around for 10 minutes, see what the house down the street sold
For, and then put a price on my house
Which will magically always be pretty much exactly what you are paying for it.
It's a money grab, and stupid.
Posted on 8/4/18 at 8:46 am to oOoLsUtIgErSoOo
quote:Funny how that shite works isn’t it?
Which will magically always be pretty much exactly what you are paying for it.
Posted on 8/4/18 at 8:46 am to nugget
Good job as in so easy that it will be automated very soon
Posted on 8/4/18 at 8:47 am to TechDawg2007
The intended purpose of an appraisal is to protect the mortgage company. Obviously they will bump the appraisal higher based off of selling price so they really are pointless now.
Posted on 8/4/18 at 8:49 am to TheAstroTiger
quote:Which is bullshite. I’m selling my house for $450,000, someone is willing to pay $450,000. If the buyer passes the required credit check and such the money should be lended
The intended purpose of an appraisal is to protect the mortgage company. O
Posted on 8/4/18 at 8:49 am to TechDawg2007
quote:
Appraisals are such BS. The house is worth what a person is willing to pay for it. I don't need some a-hole To come in, look around for 10 minutes, see what the house down the street sold For, and then put a price on my house.
All of this.
That being said, 20 years ago or so I got an offer to apprentice as an appraiser (as I later learned, about the only way to get in) and turned it down. Probably one of my bigger mistakes, as it is surely one of the cushier sweetest gigs in existence.
Posted on 8/4/18 at 8:50 am to nugget
Long ago I had to do appraisals as part of a job I had. I was never an official appraiser but I did have to take a short class.
It is an interesting job and is much more cut and dry than people think. Things like the number of plumbing fixtures matter more than style for example. We counted fixtures, computed square footage, made a somewhat subjective assessment of condition then we consulted tables and comps and came to a number.
It is an interesting job and is much more cut and dry than people think. Things like the number of plumbing fixtures matter more than style for example. We counted fixtures, computed square footage, made a somewhat subjective assessment of condition then we consulted tables and comps and came to a number.
Posted on 8/4/18 at 8:51 am to TechDawg2007
quote:
Which is bullshite. I’m selling my house for $450,000, someone is willing to pay $450,000. If the buyer passes the required credit check and such the money should be lended
But what if the true value is only $250,000 and the moron that paid $450,000 didn't know that...defaults on his loan after the 1st payment. Now the bank has a $250,000 house they have to take care of and sell after paying out $450,000 because they took the morons word for it.....come on
This post was edited on 8/4/18 at 8:52 am
Posted on 8/4/18 at 8:52 am to Y.A. Tittle
quote:
hat being said, 20 years ago or so I got an offer to apprentice as an appraiser (as I later learned, about the only way to get in) and turned it down. Probably one of my bigger mistakes, as it is surely one of the cushier sweetest gigs in existence.
It seems like most of the ones are sole proprietors or work for a large bank. It doesnt seem like down here you can really grow it into a big business.
Posted on 8/4/18 at 8:54 am to Upperdecker
quote:
Good job as in so easy that it will be automated very soon
I'm an appraiser and I like it ok. It will definitely go automated soon but I dont give a shite. I retired from the military and I do it mainly to stay busy and keep from doing honey do lists.
I would suggest if someone wanted to start in a field similar to real estate appraisals, they should become a surveyor. Those guys are backed up for months and it's a good gig. I enjoy reading and deciphering metes and bounds legal descriptions though.
Posted on 8/4/18 at 8:55 am to I B Freeman
What really doesn't matter much is custom stuff.
People spend tens of thousands on home features that do not help the appraisal. A jacuzzi tub adds nothing more to the appraisal than a cheap fiberglass one for example.
People spend tens of thousands on home features that do not help the appraisal. A jacuzzi tub adds nothing more to the appraisal than a cheap fiberglass one for example.
This post was edited on 8/4/18 at 8:57 am
Posted on 8/4/18 at 8:55 am to IT_Dawg
quote:
But what if the true value is only $250,000 and the moron that paid $450,000 didn't know that...defaults on his loan after the 1st payment. Now the bank has a $250,000 house they have to take care of and sell after paying out $450,000 because they took the morons word for it.....come on
I'd love to know what % of appraisals come back under purchase price. You'd think they wouldn't let the appraiser know the purchase price so they wouldn't be biased.
Posted on 8/4/18 at 8:58 am to El Segundo Guy
I think surveying would be a cool job.
This post was edited on 8/4/18 at 9:00 am
Posted on 8/4/18 at 9:00 am to TechDawg2007
quote:
Appraisals are such BS. The house is worth what a person is willing to pay for it. I don't need some a-hole To come in, look around for 10 minutes, see what the house down the street sold For, and then put a price on my house.
Motherfricking this
You can call 5 different appraisers and come out with 10 different appraisals
Such bullshite
Posted on 8/4/18 at 9:04 am to nugget
There isn't a profession I respect less than a fricking appraiser
Posted on 8/4/18 at 9:07 am to tgrbaitn08
You're definitely accurate to a point. You use 2 approaches to value--sales and cost. Cost approach is based off of Core Logic (Marshall & Swift) cost tables and adjusted for region, class of house, etc. Sales approach relies on at least 3 comps and then they are adjusted (one has a fireplace and one doesnt). You do the improvements and land separately.
If it's an income generating property, you also use an income approach.
If it's an income generating property, you also use an income approach.
This post was edited on 8/4/18 at 9:11 am
Posted on 8/4/18 at 9:08 am to nugget
quote:
I'd love to know what % of appraisals come back under purchase price. You'd think they wouldn't let the appraiser know the purchase price so they wouldn't be biased.
They can search the internet to see the listing and also have all the info from the bank.
Had one come in low, getting a second one is about pointless as they just copy what the previous appraiser did. The appraisals get shared/recorded.
One of my conps were almost 5 miles away, while the house across the street wasn't factored in because the sale was 'to new'
This post was edited on 8/4/18 at 9:10 am
Posted on 8/4/18 at 9:15 am to fightin tigers
quote:
They can search the internet to see the listing and also have all the info from the bank
I get that but I've seen purchase prices 20-30% lower than asking recently. It's just strange that they have this huge bias. And wouldn't the appraiser be indirectly incenivided for it to come back over purchase?
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