Appraisal Articles

Another summer is almost gone… I see trees on the roadsides and hills turning colors, some leaves starting to fall in the roadways, and crisp cool note to the winds.

Can You Believe It?

But I have to admit, I am ready for the change. I like the cooler weather, I like the falling leaves, and I like doing appraisals where I don’t sweat the whole time…

This is really my favorite time of year. The holidays are around the corner (although the stores are already stocking for Halloween and Christmas), and there is a pleasant lull that allows us to prepare for the cooler weather.

Another lull, this one no so pleasant, is from the fax. Every appraiser I talk to is feeling the pinch. We have seen our volumes go down from the conventional lenders, but we have tried to shift our focus to estate work and government work. This helps us stay busy.

And if you are still getting good volume, the appraisals that we do get are terrible. Each one needs a book of explanations, just to get it through underwriting.

It is a remarkable time. And not unexpected if you ask me. I think most people have been awaiting a real estate bubble of sorts, we just didn’t know what form it would arrive in.

I certainly did not expect it to be in the form of mortgage failure. I expected there to be a correction of pricing on the markets in the Triangle as houses reached high levels, but levels that were still far below CA and the Northeast.

But we will make it, that is what savings are for. Anyone who has been in this business any period of time knows it is feast or famine. And right now it is a little thin.

Hopefully the election will ease up the pocketbooks, and then Americans will get back to spending money again. Then we can all enjoy the seasons and the return of more work.