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Old 08-05-2018, 11:41 PM
 
130 posts, read 326,217 times
Reputation: 139

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I sold several properties in the last several years. All appraisal reports looked like copy/paste, some terrible pics thrown in and appraised value within 2% of my asking price I pulled put outa my .... seriously.

WA licensed appraiser - Associate degree sufficient? Im sure you can get to PhD to justify those insane costs but to appraise a simple house is that really necessary? No.

I bet appraisals are simple data entry into a software that does all the calculations and form preparation.

Dont care about experience required, mist jobs require some supervised training.

State tests are irrelevant. Most professions require some form of test.

Gas money? Thats funny. Here's your $1.50 for driving 5 miles to my house. Do you want to be compensated for food too? Got hungry while typing up my report? Pathetic excuse.

Unless youre a doctor, lawyer or some astro physicyst you shouldn't be making more than $50/hr, thats some real professions requiring bachelor degree, engineering, nursing etc... actual massive knowledge and vast diverse complex skills... not glorified data entry.

I was applying for a loan... all cu and banks are quoting $700+ appraisal. Appraisers are todays real estate mafia. I wish someone in the gvnt would look into that.
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Old 08-06-2018, 04:26 AM
 
385 posts, read 354,423 times
Reputation: 1019
Don't want to pay for an appraisal? Then just use your own money.
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Old 08-06-2018, 04:55 AM
 
16,484 posts, read 17,501,756 times
Reputation: 23521
Quote:
Originally Posted by Mounty View Post
I sold several properties in the last several years. All appraisal reports looked like copy/paste, some terrible pics thrown in and appraised value within 2% of my asking price I pulled put outa my .... seriously.

WA licensed appraiser - Associate degree sufficient? Im sure you can get to PhD to justify those insane costs but to appraise a simple house is that really necessary? No.

I bet appraisals are simple data entry into a software that does all the calculations and form preparation.

Dont care about experience required, mist jobs require some supervised training.

State tests are irrelevant. Most professions require some form of test.

Gas money? Thats funny. Here's your $1.50 for driving 5 miles to my house. Do you want to be compensated for food too? Got hungry while typing up my report? Pathetic excuse.

Unless youre a doctor, lawyer or some astro physicyst you shouldn't be making more than $50/hr, thats some real professions requiring bachelor degree, engineering, nursing etc... actual massive knowledge and vast diverse complex skills... not glorified data entry.

I was applying for a loan... all cu and banks are quoting $700+ appraisal. Appraisers are todays real estate mafia. I wish someone in the gvnt would look into that.

As soon as you understand the housing market is a big racket in all aspects you’ll be better off. You can join the crowd or stand on the sidelines.
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Old 08-06-2018, 05:39 AM
 
130 posts, read 326,217 times
Reputation: 139
Quote:
Originally Posted by thebigW View Post
Don't want to pay for an appraisal? Then just use your own money.
Would you be ok if someone erected a toll booth on your commute charging $20 one way and saying "if you don't like it, just walk".

Just because some racketeering practice exists doesn't mean we should be ok with it.
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Old 08-06-2018, 06:57 AM
 
Location: Cary, NC
31,592 posts, read 55,295,005 times
Reputation: 30150
This is the disconnected from reality LOL thread of the day!
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Old 08-06-2018, 07:46 AM
 
2,441 posts, read 1,048,636 times
Reputation: 9496
Because you are paying for their training, certification and expertise and a good one will be looking out for your best interests and examine a house for all sorts of issues and then give a buyer a thorough report.

I would not want to buy a house without a home inspection.
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Old 08-06-2018, 09:17 AM
 
1,130 posts, read 516,401 times
Reputation: 1794
Quote:
Originally Posted by Mounty View Post
I sold several properties in the last several years. All appraisal reports looked like copy/paste, some terrible pics thrown in and appraised value within 2% of my asking price I pulled put outa my .... seriously.

WA licensed appraiser - Associate degree sufficient? Im sure you can get to PhD to justify those insane costs but to appraise a simple house is that really necessary? No.

I bet appraisals are simple data entry into a software that does all the calculations and form preparation.

Dont care about experience required, mist jobs require some supervised training.

State tests are irrelevant. Most professions require some form of test.

Gas money? Thats funny. Here's your $1.50 for driving 5 miles to my house. Do you want to be compensated for food too? Got hungry while typing up my report? Pathetic excuse.

Unless youre a doctor, lawyer or some astro physicyst you shouldn't be making more than $50/hr, thats some real professions requiring bachelor degree, engineering, nursing etc... actual massive knowledge and vast diverse complex skills... not glorified data entry.

I was applying for a loan... all cu and banks are quoting $700+ appraisal. Appraisers are todays real estate mafia. I wish someone in the gvnt would look into that.
$1.50 for 5 miles of driving? The IRS flat rate for mileage is 54.5 cents per mile. It's more than just gas costs when driving for business.

You lack any real understanding of how much people are paid for professional jobs. Your $50 per hour equates to $100,000 per year. Where I work, anyone with a degree and 10 years of experience makes more than that, with many making in the mid-$200k range.

Your purported $25 per hour is completely unrealistic, and wouldn't come close to covering all of the costs for an appraiser.
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Old 08-06-2018, 09:26 AM
 
8,711 posts, read 8,906,804 times
Reputation: 12186
If you think appraisals are expensive, wait until you have a boundary survey done and the surveyors are on site for 20 min and send you a $1500 bill.
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Old 08-06-2018, 10:10 AM
 
16,484 posts, read 17,501,756 times
Reputation: 23521
Quote:
Originally Posted by Mounty View Post
Would you be ok if someone erected a toll booth on your commute charging $20 one way and saying "if you don't like it, just walk".

Just because some racketeering practice exists doesn't mean we should be ok with it.

That road analogy doesn’t make sense.

When I bought my house and every house I went under contract came up very close to whatever the agreed upon price was. My latest purchase came up 10k higher than I offered. Some were a few thousand lower. Appraisals are part of the sale process if you’re borrowing money. Regardless weather I or anyone likes it or not it’s just the way it is if you’re borrowing.


A while back mortgage lenders were notorious for pressuring appraisers to inflate values. Lenders often had a cozy relationship with a handful of appraisers who got the bulk of their business, and often consulted the loan officers about what value they needed to make the deal work. That contributed to the inflated housing prices.
Not sure if they still have drive by appraisals.

Now that’s all changed. Appraisers are pulled out of a pool. I don’t think any agents are allowed to be at the property other than opening the door. I may be wrong maybe the agents can be there.
I personally know a former RE agent who did jail time for the things he did during the bubble days. Even though lots of agents were doing it he got caught. He told me what he did. Got a felony conviction.

Last edited by Electrician4you; 08-06-2018 at 10:28 AM..
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Old 08-06-2018, 10:22 AM
 
Location: between three Great Lakes.
1,630 posts, read 1,783,139 times
Reputation: 5384
"I sold several properties in the last several years."

I THOUGHT I smelled an absentee landlord!
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