Real Estate Blog - So are you wondering how the appraisal business is going since the HVCC took effect in May?

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So are you wondering how the appraisal business is going since the HVCC took effect in May?

As an appraiser we have noticed one thing is certain. The office is free of phone calls! We rarely get calls anymore asking about values, what do you think the home will appraise for, etc., etc.

The orders just come in via email or fax and away we go! I cannot tell you how nice it is not to have people calling us wanting to know if they think a home will appraise for a certain number before they place an order.

All orders coming from BANKS or Appraisal Management Companies.

BUT if you want to get a feel for value without having to pay for a full appraisal. Well remember that all appraiser can and will do either Drive-By appraisal reports or desk top reports for a fraction of the cost of a full report.

We are also offering special prices on PRE-LISTING appraisals. It is a full interior/exterior report, but we discount it for the client as we do not have to jump through so many hoops when we are dealing with a personal appraisal report and not one that involves a BANK or a LOAN.

We have been busy talking to Realtors at their meetings all about the new world of appraising and I cannot tell you how profitable that has been. I have had MANY agent referrals for appraisals. We always had a good referral network with our local Realtors, but now more than ever they are suggesing to their clients to get that appraisal up front before they buy or sell property.

The few hours that I spent at their offices have paid back many times over. So it is always true if you help people they will help you back.

Business has been steady, not ganbusters, but not dead either so we are grateful.

We have had a chance to kick our other business into full gear...we create custom slide shows for upscale property listings and for all other occasisons. When I say CUSTOM, I mean custom. Not your typical slide shows. So if you have a chance check it out. www.customssc.com

Thanks for stopping by and I will keep you posted on the Appraisal world!

I have also been helping people with review appraisals. If they do not agree with the report on their home, I review it for them in the areas that I cover. A nice little side business too!

Have a wonderful 4th of July everyone and be safe!!

Mary Thompson

"Your Active Rain Appraiser'

www.marytappraisals.com

Posted by Mary Thompson Lake Lanier Appraiser in Georgia on 07/01/2009 03:38 PM

Comments (10)

The Real Estate Appraisal Process Today in the Home Selling Channel

slide shows for real estate listings, luxury real estate slide shows atlanta, what if my home does not appraise

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10 Comments on So are you wondering how the appraisal business is going since the HVCC took effect in May?

JUL

It is refreshing to hear that you're working so well with Realtors. Especially after posts (and comments) such as this one on AR.

Thanks for the link, that was quite interesting. Just shows how misinformed Realtors are when it comes to the whole appraisal process and why I want to be there for our local Realtors so there is no misunderstanding in the future.

JUL

I think the pre-listing appraisals are great! I wish sellers in our area did this.

Mary:

Business has not been steady, but slow for a week or two, followed by several weeks of being very busy. Unfortunately, NYC is a little impersonal due to the large number of appraisers and agents, so agent referrals are not an easy thing to come by. I would be interested in more info on the pre-listing appraisals - are you doing them on the 2055? Are you including the 1004MC?

@ Sara - We have both commented on the blog you referred to, and I think the lights are on but nobody is home.

JUL

Jesse love your comment about lights not on!!!!

We do not complete the new 1004MC form, but we run the numbers to discuss the current market. We fill out the old appraisal report or a 2055 depending upon if they want a full or a driveby. The old URAR report can be used for non banking/lending transactions.

WE discount our fees by $50.00 for these reports, since we do not have to jump thru all the lender hoops on these reports and it gives the Agents incentive to recommend the reports since they are less expensive.

Thanks, Mary

Mary--so you're doing a short form, or limited appraisal for the "pre listing" appraisals?

JUL

Erica:

No, not a limited report, just a different form. We do a full interior/exterior inspection is completed unless the customer wants an exterior only or what we call a drive by report. The cost for this report is even less than the full interior/exterior appraisal report.

So there are options. Of course the drive by has its limitations as we do not see the inside of the home, but if we get as much information as possible and review photos if available on MLS, etc. we can make assumptions about the interior and we note that on the report.

Thanks, Mary

JUL

Wow! Sounds like you can probably get your appraisals done faster without all those annoying interuptions! Thanks for the post.

JUL

Mary, good job. I haven't been out marketing in a while and need to. Its great for the buyer and listing agent to have the accurate square footage and fair market value to successfully sell their home in a timely manner and not leave money on the table. It is such a worthwile investment to any seller.

JUL

Mary-- thanks for the ideas. I think we're going to start pushing the pre-listing appraisals.

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