The paid Appraisal Today April newsletter will be free on April 3, Friday.
It focuses on what COVID-19 means for appraisers. I researched and discuss details: why data is the key, what are the comps, etc. Topics such as using gloves and face masks. There is lots of mis-information out there. I use the experts – scientists, especially epidemiologists.
SOCIAL DISTANCING IS CRITICAL. WE ALL MUST WORK TOGETHER TO SO THAT FEWER PEOPLE GET THE VIRUS. WE MUST MAKE PERSONAL SACRIFICES. FOLLOW THE ADVICE OF YOUR STATE AND LOCAL HEALTH DEPARTMENTS.
Louisiana is an example of what happens when lots of people gather together. Mardi Gras was February 25. No one knew much about it then.
On March 5 I took an appraisal class. No one did social distancing, even myself, or even talked about it. Some hand shaking. One person coughed and quickly said something got caught in his throat so attendees were somewhat aware of it. Hard to remember what those days were like… when there were live classes or meetings…
BE GRATEFUL THAT YOU CAN STILL WORK!!
We all see shuttered stores, many businesses shut down, employees laid off. Appraisers are still working. Lenders need appraisals. You choose which personal protection to use. You decide which appraisals to accept. You can drive around while most of us are staying in our homes.
Interior Inspections: Tough Choices for Appraisers
More comments in workingre article here:
You already know what think – Just Say No.
Here are a few ideas:
- Turn down FHA with interior inspection. way too risky!!
- Raise your fees a lot for interior inspections. They are risky.
- Drivebys and desktops will take a lot of time getting photos from borrowers. Asking questions, Etc. Ask higher fees than you used to ask.
- Take fewer assignments.
- This will not last very long. Lenders are shifting to drivebys and desktops. Why risk heath and safety you, your family and others, for a few appraisals?
GSEs/FHA/VA and bank commercial lenders are trying to protect appraiser’s health and safety by eliminating interior inspections. Freddie Mac has new guidelines for apartment appraisals.