Going to court next week for a private job I completed awhile back. Another appraiser is involved as well. This is a first time for me. Im pretty confident in my report against the opposition having read through theirs.
Any advice?
I run a small accounting firm in regional NSW and I’m getting lots of questions from clients on valuations with the CGT changes coming in next year.
I have a local bloke who has typically done valuations but he’s told me he’s nearly at capacity.
How is everyone else going to be handling this? A company called me the other day who uses an AI tool for valuations and then has a valuer tick them off. I think this what I’m going to start referring customers too, so long as the quality is there as I just don’t see how I’m going to be able to keep up with demand.
Keen to hear everyone else’s thoughts.
Actually have a situation that I haven't had before! House is being renovated and expanded but a current "bedroom" now houses open/uncovered furnace and mechanicals.
Obviously, functionality is greatly impacted - but can it actually be counted as a bedroom? (It does have a closet, legal window, and all dimensions are in line with bedroom).
My software is making me fill out all interior info such as floor coverings etc. I have put exterior only no interior info for report type. Is there a workaround for this? Software is Total. Tech support was no help
As we are heading into the next stretch of industry shifting to 3.6 along with the entering the AI world, there are only two things we can control. 1. Our quality and 2. Relationship building.
Just ponder on these two objectives that are within your control and things will be fine.
Do good work and remember how you are getting your work. If there is no relationship between you and your client, mayby that's not the path that you should walk on.
Hope everyone is having a good summer! Curious how everyone’s volume is currently? Mine slowed down significantly the last two weeks. Could be back to school, market, etc.. Thoughts?
I’m in a small older 12 unit Condo community in Indiana with a central courtyard pool. There are various sized condos with values ranging from $120,000 to $230,000. The current homeowner mix leans heavily towards non pool users (~75%) who would like to permanently close and fill the pool. They don’t feel there is a cost/benefit to maintaining a pool especially in the Midwest with a 4 month pool season and very minimal current pool usage.
From an appraiser perspective, would there generally be a significant impact to the value of each individual condo units with removing a pool?
The offset to no pool is lower assessments and/or faster reserve buildup for needed larger repairs and replacements.
As expected, the pool users feel pool closure will greatly impact value while non users say no impact to a positive impact.
I appreciate an appraiser perspective
Has anyone tried Datamaster 3.6 or ApprAIz? If so, how do you like it?
I use Aivre and it’s okay, still haven’t figured out the market analysis portion of it, I’ve just been using Truetracts for that part. Looking forward to seeing Truetracts 3.6.
Working towards MAI and need the 4 classes:
Advanced Income Capitalization
Advanced Market Analysis and Highest and Best Use
Advanced Cocepts & Case Studies
Quantitative Analysis
Rank them from easiest to hardest. What is a good order to take them in... if they were all available at the same time. Planning on taking them synchronous as well. Any other tips / advice is appreciated as well.
I think I’ve had it with Residential appraisal. Ive been at it for 4 years and have been certified for about 2.5. I’ve see the writing in the wall. You’ll never make an actual living doing this. You won’t be able to save, raise kids, retire or take a vacation without regrets.
I know there will be pushback against this but I don’t think it’s worth it. I’m not willing to “wait it out” or search for private work that simply will be a years-long struggle.
I have a college degree, left corporate America to try something new. Residential appraisal is untenable and I wish I hadn’t wasted my time.
It shouldn’t be this hard.
Curious to hear from anyone who's gone through this. Background: 4 years as a trainee/associate at a large CRE appraisal firm, mostly multifamily and some retail/QSR work across NYC, NJ, and New England. Just hit Certified General.
Thinking through what it looks like to go out on my own (or start picking up outside assignments) versus staying W-2. A few things I can't get a good read on from the outside:
Not looking to leave my current role tomorrow, just trying to get a realistic sense of the timeline and what actually moves the needle — panel applications, LinkedIn/networking, AI/MAI affiliations, or just grinding out work for whoever will give you a shot first.
Appreciate any war stories, good or bad.
I’m curious if this has happened to anyone else but this has happened to me on Aivre and Total.
I will be typing a report and I get to the sales comparison approach and I realize I need to fix something in the “Unit Interior” or “Dwelling Exterior” section but those sections have disappeared.
They don’t show up in the Report Sections at all. Because it’s happened on two different software’s I don’t know if it’s a bug or feature of the dynamic report and I clicked something that made this happen.
I’m on my journey to get licensed and am curious what side jobs people have taken (if the shadowing work didn’t bring in enough income).
Is there a common type of side work that training appraisers can look out for? Or is that not really a thing, and it just comes down to what random work you can find on the side to fit outside of a shadowing schedule?
I’m curious to hear people’s experiences while they were training. TIA!
I'm selling a small farm as FSBO and am genuinely puzzled about pricing the property competitively. For context, it's 13 acres with good infrastructure and a great location for direct marketing in a fast developing area close to a major city. I consulted several local real estate agents who advised me to price between $224K-$260K depending on how quickly I wanted towindows?
I had an appraisal done, which produced a current market value of $144.5K. I believe the appraiser used comparable properties that have none of the benefits of location possessed by my property and seriously undervalued it. It is also possible that he was biased, as he has a competing business but didn't admit it until after the appraisal ( it's a conflict of interest, and I would have requested another appraiser if I'd known earlier).
I had another market value report done by the flat-fee agency I'm using for MLS (which is sadly non-local, they were recommended by the only flat-fee agent in my area who is retiring). This agent found very few comparable properties but came up with a value of $273K.
At this point, Im tired of doing due diligence and just want to list the property. Based on this conflicting advice, what initial asking price would you set if you were looking for a sale in a three-month window?
Ive been noticing Clear capital has been calling borrowers after a few hours of accepting an order and scheduling an appointment with the borrower without consulting with the appraiser’s availability as well. When i go to call the borrower they’ll say “clear capital already called and said you’ll be coming out on this day and time. “
Hi! I'm currently under contract to buy a home. Upon seeing the appraisal document and doing my own research, I've realized that the property I'm buying is totally ripping me off. The trouble is, the appraisal value came back at just $500 higher thus making it invalid for me to use my appraisal contingency. I'm thinking of submitting a Renegotiation of Value to try to receive a lower appraised value, to then use to negotiate a lower price.
I can put together a pretty compelling document, complete with pictures, examples of other properties and maps. But has this been done before? Am I insane?
I remember early on in my investing journey, I thought I had the perfect BRRRR deal lined up. I bought a tired property, put in a beautiful new kitchen, laid down fresh LVP flooring, and got a great tenant in place. It looked perfect on Zillow.
Then I went to the bank to pull my cash out. The appraiser came back, and the lender abruptly halted the process.
Why? Because I didn’t understand how appraisers actually grade properties.
It’s easy to assume that if a house looks great and cash-flows well, the bank will love it. But appraisers use a standardized system called the UAD (Uniform Appraisal Dataset), which grades the physical condition of the property from C1 to C6.
Here is the catch that trips up a lot of out-of-state investors: Cosmetics do not erase deferred maintenance.
You can have granite countertops and stainless steel appliances, but if the appraiser spots an aging electrical panel, a roof near the end of its life, or slight foundational moisture, they won't give you a C3 rating (which is the standard "good to go" rating for most favorable lending terms). They will tag it as a C4 or C5.
Once a property hits C4, some lenders will increase your interest rate (risk premium) or lower your LTV. If it hits C5, they will completely freeze the loan until you fix the underlying issues.
It was a frustrating and expensive delay for me. It taught me that when you look at a potential deal, you can't just look at it through the eyes of a renter. You have to look at it through the eyes of the appraiser.
Has anyone else gotten burned by a surprise condition rating during a refinance?
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