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Oh No, Times must be tight

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AtomSmasher:

--- Quote from: protokatie on January 12, 2009, 05:41:16 am ---
--- Quote from: AtomSmasher on January 12, 2009, 12:24:27 am ---Ya, things have been pretty bad for me for a while now, so I've been slowly looking for a new job, but it looks like I need to expedite my job search because the government recently decided to pass legislation that will put me (and millions of others) out of business on May 1.  The short version is the lobbyists convinced the government that it's better to have real estate appraisals done fast and cheap by people new to the business instead of done with quality by experienced professionals.  Probably 90% of all independent appraisers will be out of business May 1.

--- End quote ---

Is it just me, or does it sound like the government there wants an easy way to manipulate property value? IE either to buy it below current value, or to pressure appraisers to over value taxable land...? The way you put it; it almost seems like clear-cut corruption to me.

--- End quote ---
Thats American politics for ya  :P

Actually part of the new law is good in the way that they can't easily pressure appraisers to bring in a certain value because the mortgage brokers can no longer talk to the appraisers, they can only talk to the big appraisal management companies who will now get 100% of appraisal work instead of independent appraisers.  The AMC's then take over half the money they're given for the appraisal and give the order to the appraiser who gave the lowest bid and fastest guaranteed turn-around time.  Which means those of us who spent years building up a client list can now throw that list out the window and are forced to work twice as hard for half the money, and that is if you can get on the AMC's lists, which most of them only use the larger appraisal companies which generally consist of new hires willing to work for peanuts (who are called Skippy's in the industry), so small independent companies like mine gets put out of business.

Sad thing is, this whole law came about because of a lawsuit against an AMC pressuring an appraiser for a value, so of course the logical thing to do is give all appraisals to the AMC's from now on   ::)

AtomSmasher:

--- Quote from: pinballjim on January 12, 2009, 09:57:04 am ---Not trying to be rude here, but what exactly did/do you 'do'?



--- End quote ---
Real Estate Appraiser

*edit* I just realized the quotes around do implying that I may have done something wrong, but thats not the case.  Every independent appraiser is either being shut down or forced to work for the large management companies for less then half the money we used to make per appraisal (if you can get any work from them at all).

AtomSmasher:
Ah, most of my work is for the purpose of loans on residential properties, in other words for refinances and purchases of houses.  I also do a fair share of estate, divorce, and REO appraisals, which won't be effected by the legislation, but I don't get enough of this type of work to keep me in business.

I've been watching the assessors office closely in the hopes that I can get a job with them, but they haven't been hiring in a long time.  At least I have a degree in computer science, so now I'm trying to switch industries back into computer programming.

Oddly enough with the recent rates cuts, right now work is busier then its been in months and we're starting to see a lot more investors buying properties.  I thought things were starting to look up, but then the government decided to stomp out the little guy.  I hate when they fold to lobbyists.

mccoy178:
I refinanced the house as soon as I understood what a credit default swap was about 6 weeks ago.  I think our economy is in a major bad way and will be for awhile.  I don't consider any of this hard times.  We made our own beds and now we are lying in it.  If I lose my teaching job due to economic issues, I'll figure something out.  My grandmother to this day still talks about the depression and what they had to do to survive.  In light of that, I'm not bitchin' about anything.  It could be much worse.  We all still have cable, cars, and a roof over our heads. :dunno

ChadTower:

I totally agree with that.  We shouldn't even mention the Great Depression until we hit the 20s in unemployment.

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