Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Shortage of real estate appraisers is hurting the housing market

Notify me of new replies via email
Mortgage Professional America | 04 Oct 2016, 08:15 AM Agree 0
While the housing market might be experiencing a rebound, a number of deals are being held up by the growing shortage of real estate appraisers
  • Indiana appraiser | | 04 Oct 2016, 11:37 AM Agree 2
    Have you checked out your source and reputation of Coester? His company was fined earlier this week. Why don't you speak with Jonathan Miller?
  • Me | | 04 Oct 2016, 11:53 AM Agree 0
    What, exactly, did they think would happen with a profession where every wrong thing gets to be pointed at appraisers? There is a saying, "Appraisals never die." and it's apt. Someone goes into foreclosure 15 years down the road, the first thing they do is pull the appraisal and request someone do a retro appraisal, looking for someone to blame, primarily the appraiser. Then add in the CU--which doesn't allow appraisers to see what is said about them but give this info to bankers, yet every other article tells you how this is SO important and can get you on "do not use" lists and every comma out of place may have you before the state board. Then you get these whacked out state boards who tell appraisers that missing a due date is reason for sanctions...until the Appraisal Institute stepped in and say, Heck no, it isn't, where did you get that crap from? And they are surprised that appraisals are now taking 7 days or more. WHAT DID THEY THINK WOULD HAPPEN? All this oversight and even in the end, the effort is STILL to find wrongness on the appraisers part. How slow can they be?
  • Appraiser | | 04 Oct 2016, 12:00 PM Agree 2
    No shortage of appraisers. Only shortage of appraisers willing to do the work for a low fee with quick turn time.
  • BRCJR | | 04 Oct 2016, 12:08 PM Agree 1
    No shortage if you treat them fair and respectful.

    Treat the appraiser in a dignified and respectful manner, agreeing to a fair fee, and you have little problems, generally.

    No regulation stipulates that a trainee cannot inspect a property without the supervisor being present. that may be a client requirement but, that is not a law.

    That is a myth.
    I repeat, that is a myth.
  • John J. Dickman, IFAS | | 04 Oct 2016, 12:33 PM Agree 0
    "No shortage of appraisers. Only shortage of appraisers willing to do the work for a low fee with quick turn time."

    How true. how many times do you get a request for a fee quote and turn time, then they say, let me check with the lender, never to be heard of again. I can remember when banks thought the "value" of the collateral was the most important aspect inside the mortgage file. Anybody at anytime can lose their ability to pay on the note. One major AMC told me "turn-time" was more important than waiting an extra day or two in order to develop a more accurate and credible opinion of value. And of course, T-A-T is counted as one of major factors in an appraiser's overall "score-card". Now that is a sad commentary.
  • Will | | 04 Oct 2016, 01:25 PM Agree 0
    Doubling the demand for appraisals without changing the supply of appraisers results in a cluster bomb folks. Whose fault is that?
  • | | 04 Oct 2016, 01:43 PM Agree 0
    There IS a shortage of Appraisers willing to do work for an AMC. Many are sticking with their Local Banks with less hassle.
  • Cali appraier | | 04 Oct 2016, 01:45 PM Agree 0
    To the appraiser that says a trainee can inspect the subject. You are absolutely correct. But Fannie and Freddie do not allow co signers anymore and licensed appraisers cannot do 90% of Freddie or Fannie mortgages and no FHA mortgages. So us larger offices that did not need to inspect every property now must inspect every home, thus not motivating us to take on licensed or trainee appraisers. It is not financially feasible.
  • Jon Taylor | | 04 Oct 2016, 01:47 PM Agree 0
    I became an Appraiser in 2003 and missed the cut off to become Certified without a College Degree. Because of this, I can't find any work...no one will accept Licensed Appraisers. Now if I want to become Certified I'd have to go back to college. Which would be very hard for me and my family of 6. I wouldn't be able to watch my kids grow up because I'd be going to school at night, for years and years while working full time (Not doing Appraisals because Licensed Appraisers can't get work) and for what! I feel like I wasted all my time and money getting licensed to have a career to having nothing now. I just can't believe they would change the rules and cut us out like that. I had been doing appraisals for years before the changes and was FHA approved, without one complaint on any of my work.
  • 600lb Gorilla in the room | | 04 Oct 2016, 03:11 PM Agree 2
    When will the 600lb gorilla in the room be called out for what it is doing to the appraisal process? Why are there only a few appraisers coming into the profession? Why are AMCs having trouble finding appraisers to provide appraisal services? Why are some areas experiencing longer wait times for the appraisal to happen? Why is there a perception of an appraiser shortage?

    The answer is compensation. If appraisers were being compensated at a rate that they could afford to hire a trainee (pre 2010 levels) and pay that person a living wage and all of the expenses such as SSN, FICA, and insurances, etc, then there would be no discussion about an appraiser shortage. However, what has happened since 2010 is Dodd/Frank laws have caused an additional expense to the appraisal process by adding the bad business model middle man of AMCs taking a portion (sometimes more than 50%) of what the bank has collected from the borrower for the appraisal as their service fee instead of charging THEIR client an AMC fee.

    At first, it was a small, modest fee, but then the AMC animal grew and got hungry and needed more food (fee) to pay their overhead and give themselves a raise to cover the cost of operating an AMC (look at the Housewire articles fastest growing and making millions of dollars.) Did they go back to their client for an additional fee? No, they just charge the consumer more money and call it the "Appraisal Fee" then take more of that fee for themselves. The is a business model that is killing the golden goose that the AMC makes money from ......the appraisal profession.

    What is a fair and reasonable fee? I am glad you asked....... A fair and reasonable fee is what a lender/client would pay for an appraisal report if there were no middle man/AMC involved.

    There is not an appraiser shortage in the majority of the areas in the US. There is an overabundance of AMCs that are not treating appraisers in a fair and reasonable manner. Until this is addressed and it becomes transparent to the consumer what they are paying for this will only get worse. What is sad is that no one is listening to the appraisers. The Dodd/Frank rules were put in place because of mortgage officer pressure and duress on appraisers. Loan officers were nothing compared to what the AMCs are doing to appraisers.

    MPA- Appraisers are available and ready to meet your appraisal needs. Don't believe the tall tales of an appraiser shortage. The only shortage of appraisers is the ones that are not willing to be treated fair and reasonable. It is time for the AMC industry to change their business bad model.
  • Serendipity.hh | | 04 Oct 2016, 03:37 PM Agree 0
    AMCs will shop orders trying to find appraisers willing to work for less than than C&R fees. More than a week ago I was asked for a fee quote for a $1.5 million 6000 sf antique home that is pending. I bid standard C&R for a jumbo with a delivery of yesterday. Did not get the order. Today I got another request for the same property. The AMC has been shopping this order to appraisers in this area for over a week, trying to save $50-$100. I am sure the borrower and brokers involved in the deal have no idea what is going on. Probably in the end, the appraisal will hold up the deal, it is likely that a cut-rate appraiser will do a poor job on the appraisal or the the AMC will charge a rush fee on top of C&R for a decent appraiser, and the appraiser shortage will be cited in some way. No shortage of appraisers here in Philly, just a shortage of appraisers willing to work for minimum wage.
  • | | 04 Oct 2016, 03:42 PM Agree 0
    When the residential appraisal business went to the AMC's and direct lenders the effect is many small appraisal companies that trained appraisers were broken up leaving appraisers to fend for themselves. It has become very difficult to run an appraisal business with appraiser employees, I used to have 8, so we have the majority of residential appraisers working on their own with a lack of access to appraisal orders to give to trainees. I wish there was a shortage and rising fees, but I'm not seeing rising fees in my market other than one quality lender I work with.
  • | | 04 Oct 2016, 03:59 PM Agree 0
    Raise the fees, that will go along way in solving the problem.
  • Appraiser | | 04 Oct 2016, 04:31 PM Agree 0
    There is no Appraiser shortage. There is just an increasing number of Appraiser that are fed up with being treated like the red headed step child. Treat the Appraiser with some respect and not like your whipping boy. Pay them equal to the amount of work and risk that is required to completed the work, and lo and behold there is no more Appraiser shortage. The scope of work has vastly increased from the early 1990's so don't expect us to work for what we made then.
  • Clark | | 04 Oct 2016, 04:31 PM Agree 0
    There is no appraiser shortage. The AMC model of appraisal management has led to a large percentage of appraisers to quit servicing the lending side of the profession. Appraisal management companies take a large percentage of the appraisal fee and add little to no value to the process. I have had numerous offers of appraisal orders refused after I quote my fee. The AMC then calls back 7-10 days later to place the order after finding no one to complete the report cheaper or faster. This delays closings which the AMC then blames on a mythical "shortage" of appraisers. The truth is there is finally a shortage of appraiser's willing to work for minimum wage level fees!

    Clark Davis
    Davis Appraisal Group
    Miamisburg, OH
  • | | 04 Oct 2016, 04:34 PM Agree 0
    Show me the money!!! Appraisal fees have been stagnant for decades. On top of that, appraisal management companies are acting as middle men in the process and taking a big chunk of the fee the banks pay to appraisers. These AMC's low ball you or bid it out to the lowest bidder. Quality be damned. They may collect $700 from the bank for an appraisal, and pay the appraiser $300 or $400. The lower fee they get from an appraiser, the more they pocket. The unsuspecting homeowner thinks the appraiser gets the entire fee. Most states do not disclose the AMC fee/cut this on the HUD closing statement, just "appraisal fee". There is no shortage of appraisers, just an industry tired of being low balled and blamed for every negative that may occur. You don't make the value they need to close a deal, they don't call you anymore. You don't get a report back to them in 24/48 hours, they don't call you anymore. You try to raise your fees, they don't call you anymore. Appraisers have no dog in the fight weather or not your home appraises for what you think it's worth. Appraisers job is to give a supported "market value". Realtors and mortgage brokers on the other hand, are commission based. Deal doesn't get done because of a value issue, they make $0. So of course it's the appraisers fault. It could never be the realtor over priced the home at listing, or there are no comps to support value, it's always the appraiser fault. And you don't have to look far to see stories of mortgage brokers overstating income to qualify applicants. Realtors and mortgage brokers are a big part of the problem. Stop whining and pay a fair/reasonable fee, and take the middle man (AMC) out.

  • Fed Up Appraiser | | 04 Oct 2016, 06:06 PM Agree 0
    This notion of a shortage of appraisers is a fallacy made up by greedy AMC's. Most appraisers haven't seen a fee increase in 10-20 years. In fact, most that are willing to work with AMC's have actually seen their fees go down. Why is it that they won't allow the breakdown of the fee to the borrower? They don't want the consumer to know that they are being charged $700 for an appraisal and the appraiser is only getting half of it if they are lucky. And for what? All the AMC's do is delay the process and have unqualified people reviewing the appraisals. Many send the appraisals to someone in a foreign country who go by a check list and have not idea what an appraisal even is. The purpose of the AMC model was to provide a middle man between the lender and the appraiser to eliminate coercion and "number hitters". Well, I can tell you, the AMC's are 1000 times worse than the lenders ever were in trying to influence the appraiser's opinion of value. My business model is almost completely private appraisals. I refuse to work with these low paying, dishonest, incompetent, constantly nagging, shady companies. It is not a shortage of appraisers, just professionals who are fed up and refusing to be bullied, underpaid, and underappreciated.
  • MACHO MAN RANDY SAVAGE OOOH YEAH | | 04 Oct 2016, 06:49 PM Agree 0
    Well said and dead on.
  • Tim Brown | | 04 Oct 2016, 10:01 PM Agree 0
    There is no shortage of appraisers. There is a shortage of professionals willing to to take crap from the lenders, agents and the greedy Appraisal Management Companies. Once you quoted Brian Coester, you lost ALL credibility.
  • extraordinary appraiser | | 04 Oct 2016, 10:45 PM Agree 0
    Good thing you quoted Brian Coester! He knows best. There is certainly a shortage of appraisers ready, willing an able to work with his appraisal management company, CoesterVMS. The company is perennially dealing with complaints and sanctions from state regulatory agencies, lawsuits from former employees/corporate officers, and notorious for self promotion at the expense of their 'appraiser partners".

    As other have said, the instances cited are anecdotal. The shortage, if experienced in some markets, is of appraisers willing do do work for minuscule fees. The is capitalism! The market does work. The relationship between demand and supply works to determine price. If the price (appraisal fee) is artificially suppressed, there will be no supply. Let the market determine the price, and the supply of appraisers will rise to meet the demand.
  • Janice A Hiley, SRA | | 05 Oct 2016, 12:42 AM Agree 0
    1. There is nor ever was a law requiring appraisals to be ordered by an appraisal management company (AMC).

    2. AMCs take a large portion of the appraiser's fee.

    3. One of the 'big five' lenders owns an AMC.

    4. AMCs can take weeks to 'process' an appraisal by requiring numerous meaningless 'clarifications' and revisions ordered automatically or by individuals who have no appraisal experience.

    5. Qualified appraisers have no incentive to train new appraisers since their profit has been stripped by AMCs. (Refer to Nos. 1, 2 and 3)

    6. Many qualified appraisers will not work for AMCs due to the above.

    7. Lenders and AMCs that do not pay customary and reasonable fees appear to be the ones complaining about an 'appraisal shortage'.




  • NoSpin JustFacts | | 05 Oct 2016, 07:51 AM Agree 0
    A lot of valid life experiences being shared. Unfortunately, the government has succeeded in achieving their goal of appraisers, lenders, and realtors all pointing the finger at each other. This is a common game of government to keep citizens under their thumb. To create slight of hand regulations (HVCC (then NY Attorney General Andrew Cuomo) turned to Dodd-Frank (Congress). Big government always deflects accountability in the messes they create (housing crisis). The lending industry is living in fear of government (mafia style CFPB) and it flows down to all of the people that serve in citizens in the lending process. The massive growth of AMC's created out of HVCC and transitioned to Dodd-Frank, was seen as an opportunity for more finger pointing by lenders to cover their behinds. This was also taken advantage by some lenders to use the appraisal as another revenue stream through their ownership interest.

    So everyone needs to pull together to stop the Big Government Bureaucrats' fear pushing by stripping them of their anti-consumer regulations and allowing the pre-Big Government housing crisis lending environment to return that served our housing market very well for the 60 years leading up to 2000's destruction.
  • NoSpinJustFacts | | 05 Oct 2016, 07:59 AM Agree 0
    A lot of valid life experiences being shared. Unfortunately, the government has succeeded in achieving their goal of appraisers, lenders, and realtors all pointing the finger at each other. This is a common game of government to keep citizens under their thumb. To create slight of hand politicians' regulations HVCC (by then NY Attorney General Andrew Cuomo) turned to Dodd-Frank (Congress). Big government always deflects accountability in the messes they create (housing crisis). The lending industry is living in fear of government (mafia style CFPB) and it flows down to all of the people that serve citizens in the lending process. The massive growth of AMC's created out of HVCC and transitioned to Dodd-Frank, was seen as an opportunity for more finger pointing by lenders to cover their behinds. This was also taken advantage by some lenders to use the appraisal as another revenue stream through their AMC ownership interest.

    So everyone needs to pull together to stop the Big Government Bureaucrats' fear pushing; by stripping them of their anti-consumer regulations and allowing the pre-Big Government housing crisis lending environment to return that served our housing market very well for the 60 years leading up to 2000's destruction.
  • Steve | | 05 Oct 2016, 09:31 AM Agree 0
    There is no shortage of appraisers. Just a shortage of appraisers willing to work under the conditions of the secondary mortgage market. Personally, I kicked Fannie Mae to the curb in 2006... something I like to call pretty good timing.
  • New Jersey Appraiser | | 05 Oct 2016, 10:22 AM Agree 0
    Right on Indiana Appraiser!
  • Fed Up | | 05 Oct 2016, 12:56 PM Agree 0
    There is no shortage. I haven't had an order in four days. I just bid on three orders using fees from 2003 and didn't get the orders so...maybe low fees and expanding scope of work are the problem.

    If anyone wants a USPAP compliant detailed report with support for all adjustments, an in depth market analysis, and a detailed summary of the appraiser's analysis and conclusions then there are appraisers waiting for your call. If you want a form filled out in two days for $200, with random numbers thrown at the grid, those appraisers are booked up through next year. So much bs.
  • Take A Closer Look | | 05 Oct 2016, 04:58 PM Agree 0
    The bank/MPA members may want to take a good look at what the AMC is charging your clients and labeling it as the "Appraisal Fee" but not being transparent as to what portion of your clients funds are actually paying for the professional services of the actual appraisal vs. what the AMC is keeping and then not disclosing that to the borrower as an AMC fee.

    This could be RESPA violations and could cause some heartburn for your MPA members in the future. Why would that cause heartburn? Because Dodd/Frank says, appraisers are to be compensated at a reasonable and customary fee. That is a federal law that is not being followed and at the same time causing appraisers to choose clients/AMC that are following the federal law. An R&C fee does not include funds to pay for the AMC service. Your MPA members are paying the "Appraisal Fee" to the AMC plus the AMC fee. In turn, the AMC is not passing that Appraisal fee to the appraiser that you paid for the professional services. They are shopping around delaying the process trying to find an appraiser that will accept the lowest appraisal fee then keeping the balance instead of refunding that back to your client. Can you say RESPA violation?

    Some AMCs have lost their way due to inflated margins that they need to cover their costs. That is the reason appraisal cost are increasing and that is why there is a perceived shortage of appraisers.

    Go out and ask appraisers what is happening on the ground level and you will get honest answers.

  • henry | | 05 Oct 2016, 09:40 PM Agree 0
    Hello everyone, I am Henry.

    It's the programmed ATM card that can hack into all ATM machines. It
    works with any currency and in any country where you might be living.
    Its is programmed in a way that when transaction is carried out with
    the card ,it can't be traced. To make use of this card ,you need no
    account number or even pin of anyone. Its simple because there is a
    manual attatched that teaches usage ,and also give more explanation
    concerning the card." So friends,its a new year and a new beginning.
    If you need funds to start up some busines,pay up bills and mortgages or
    money to live a good life? Then you gat to make this opportunity
    yours. Though it's illegal as you and I know ,but since government can't
    satisfy everyone needs, I have to do what I have to do,to get what I
    want and for my family to be happy and everyone at large to be the
    same ..Though this post is not for everybody,but for those who truly
    need change from a poor state to a wealthy life.
    however you can get one for sure in less than 3 days risk free and
    guaranteed delivery. You should all know that this ATM card is not for free. I had to find a way to buy it before it was delivered to me. So, don't
    waste your time expecting it for free.
    I contacted this email address which got mine delivered to me
    after paying for it; Atmmachine111@gmail.com
  • M.A. | | 06 Oct 2016, 07:57 AM Agree 0
    Yes Good Appraisers that would accept low fees for less than 5 day turn time. Of course we cannot live with those expectations, they are impossible to meet and jeopardized the appraisers reputation due to turn times alone. Some of the "corrections" per say are absolutely ridiculous. I was asked for the deed doc's for the PUD community proving maintenance of the private street as well as the latest title transfers within the prior 5 year for subject and comps??? Not to mention three additional active listing mandatory now, for what fee you ask?? $250.00 LOLOLOLOLO!!!!!
  • Sam Kader Pacific Coast Financial LLC | | 06 Oct 2016, 12:48 PM Agree 0
    Well put. Issues mentioned accompanied by proposed solutions!
  • Blink | | 07 Oct 2016, 09:13 AM Agree 0
    There are multiple reasons for the appraiser shortage. However, a GOOD AMC is not one of them. The best AMC's don't bid out orders to find the lowest fee, don't enlist appraisers who submit poor quality, and high CU risk reports. The best AMCs, treat appraisers with respect, pay fees that reflect their experience, qualifications, and expertise and do charge the service fee to the client. The best appraisers work with the best AMCs, and appreciate the service the AMC provides to them. The best AMCs provide a positive balance, and deliver excellent customer service to both the appraisers and lenders. Isn't it time to stop blaming all AMCs? If an appraiser doesn't like the fees, or customer service, then don't work the AMC. The same applies to lenders...chose an AMC that promotes the win-win and a everyone is successful.
  • EricK | | 08 Oct 2016, 12:51 PM Agree 0
    There is mainly a shortage of appraisers time. The scope creep and time-wasting b******* has become burdensome times infinity.
  • EricK | | 08 Oct 2016, 12:52 PM Agree 0
    There is mainly a shortage of appraisers time. The scope creep and time-wasting b******* has become burdensome times infinity.
  • Patty Dressel | | 09 Oct 2016, 11:17 AM Agree 0
    Shortage caused by greedy amcs. I won't work for them any more. patty
  • objectiv1 | | 10 Oct 2016, 03:25 PM Agree 0
    No new appraisers? The young workers are smart. The training and time spent to acquire skills as a computer programmer gains a five figure income right away and that is a profession where one enjoys enormous respect and just a fraction of the stress faced by an appraiser.
    The way the industry is set at this time, dominated by the silly banksters and greedy middlemen (Appraiser management goons), one would need to be a full blown masochist to pursue a degrading and oppressive occupation such as this.
    The Appraisal profession (Yes, it WAS a profession) was at an apex prior to 1992 when licensing and the sweatshops (AMCs) were imposed upon it. It was all downhill, and still going, from thereon. A good appraisal has a competent and OBJECTIVE report. No one receives an objective appraisal as long as banks leverage appraisers with the "Approved LIst" and the licensing agencies oppress appraisers with their heavy handed approach. The AMCs are nothing but the enforcement squad for the unethical bankers and unnecessarily inflate costs for the borrower.
    You got what you wanted , now enjoy!
  • objectiv1 | | 10 Oct 2016, 03:32 PM Agree 0
    Thank you Ms Hiley!
  • MORTGAGE LENDING TODAY | | 11 Oct 2016, 02:24 PM Agree 0
    WE NEVER HAD ANY PROBLEMS WITH APPRAISERS AND OUR CUSTOMERS PAID SO GOOD THAT LENDERS PAID US BETTER YSP BECAUSE OUR CUSTOMERS HAD OUTSTANDING CREDIT. NOW, SINCE FRANK AND DODD LAWS, WE HAVE TO SIT AROUND AND WAIT FOR THE LENDER TO GO THROUGH THE CHANNELS THAT THEY GO THROUGH TO GET AN APPRAISAL ORDERED AND BACK. IT'S A MESS! I CAN LOOK ON ZILLOW AND DO BETTER APPRAISALS THAN WE GET NOW BECAUSE THE GOVERNMENT WANTS THE NATIONAL LENDER TO ORDER THE APPRAISAL AND THE LOCAL BROKER NOT TO BE RESPONSIBLE! BUT THE EDUCATION CLASSES LET THE BROKER KNOW HOW RESPONSIBLE WE ARE! WE ARE RESPONSIBLE BUT HAVE NO CONTROL OVER OUR ACTIONS! THAT'S A GOVERNMENT SOLUTION WITHOUT IDENTIFYING THE PROBLEM! WE USE TO CALL THE APPRAISER UP AND GET THE APPRAISAL DONE THE SAME DAY MANY TIMES. NOT ANY MORE. THE GOVERNMENT SOMEHOW THINKS IT'S BETTER NOT TO BE COMPETITIVE AND FOR ITS BUSINESSES NOT TO BE COMPETITIVE. ALL THEY HAVE DONE IS GET A BIGGER PIECE OF THE PIE. THAT'S FINE, BUT WHY DO YOU HAVE TO LIE AND MAKE THINGS A MESS TO GET A BIGGER PIECE OF THE PIE. JUST TELL US THE TRUTH AND WE WOULD HAVE MORE RESPECT FOR YOU!
  • gh | | 12 Oct 2016, 08:18 PM Agree 0
    Appraisals would get faster if they got rid of the AMCs. Some take way too big of a split to expect good appraisers.
  • Tb | | 13 Oct 2016, 04:12 PM Agree 0
    Currently how an appraisal is completed and used has out lived their purpose. Making an Appraiser give a objective value and basing everything upon that value really doesn't do anything as we have seen in years past to make a security any more secure. The appraisal should become a value range and given a tolerance within that range to approve the amount of a mortgage. Make sure the home is livable and proper collateral to the mortgage while being leery its not being sold or flipped for a price that seem unreasonable or not fitting within the tolerance for the market. For example. Person goes to contract for $105,000 on a home. Value range is $90,000 to $110,000 for similar type, location, and size. Since the price is within the range we move forward with lending based on the sale price. If the person bought the home for $112,000 they would need to bring in the difference from top of range or $2,000 and in result reset the range for the area or allow for a tolerance of the current increase in home sale price index to exceed the range given.
  • Tom E Zeus | | 18 Oct 2016, 03:03 PM Agree 0
    I've heard from our AMC's that there is a shortage of appraisers because a new appraiser is supposed to do certain work to get a license, but can't do the work without a license! And this stuff about appraisers being slow....we've been getting our appraisals consistently in UNDER 10 DAYS FOR THE PAST 4-5 YEARS. Also, in the most likely environment for a slow appraiser (VA Loans) the appraisers are doing an amazing job and we have absolutely no contact with them and couldn't throw them off a panel if we wanted to. We get our appraisals in 7-10 days, and have only had one instance in the last few years where the appraiser dilly dallied. Most the time if we have timing problems it's because the realtor couldn't meet the appraiser in a reasonable time frame.
Post a reply