If you are a complete moron take up this line of work

[sleewell]

seriously how fucking stupid do you have to be in order to become an appraiser??

I was trying to refi my house and just got the biggest bonehead appraisal back I have ever seen in my life and I sell real estate for a living.

he values the house 4k less than I paid for it in 2009 (after the bubble when values were the lowest)

since i bought the house i have done the following which were all noted in his report yet not valued apparently:

new exterior paint - 3k
new furnace - 4k
new central ac - 2.5k
new hot water heater - 750
all new kitchen appliances


my state equalized value has gone up each year and is significantly higher than his value. his sold comps were 15-20k higher in much less desirable neighborhoods. you can see the lake from my front deck and living room and he listed houses 1-2 miles away in shitty, poorer areas. i am walking distance to million dollar homes.


i am so fucking mad right now i could spit. i just paid 350 dollars to pay some mouth breathing high school drop out to waste my time and money. what a fucking joke.

[RSBro]

that whole racket sucks mang. i'm so fkn happy to be in my house right now and FINALLY be done with that shit for a LONG time. i had some girl ask me recently on a date if i'd consider selling both our houses and finding one together. i was like lol, no. my house is sweet and i'm not going through that whole bullshit ordeal just to say we "found it together". i've never had another chick live there so it doesn't matter. YOU can spearhead looking for the next one in 10 years, if we and the hypothetical Mrs. RSBro want to even move. i only plan on possibly 1 chirren, so i have plenty of room for that. if you have a cooler house then me, then sweet i'll move and lease mine. the market for leases is NUTS here.

but yeah, sorry brah. i know you got $$ headed towards more important things right now anyway.

[ovid9]

I'm DREADING my re-fi for this very reason. Home inspectors and appraisers are the two things I HATE about buying or refinancing.

Typically they don't know shit and you HAVE to have it done and there's jack crap you can do about it after the fact. (My parents got totally fucked by their home inspector, ours sucked too, but we were ok with it because his incompetence allowed us to close faster.)

mojo sent dude. Since you know lots about the industry how did you keep from choking him out?

[sleewell]

trust me, i am fighting this horseshit tooth and nail. i have already called 4 local agents who actually know what they are doing and am getting cma's and plan to just destroy this noob. you should see the dumps he presented as comps that sold for much higher than he valued my house at. i just dont get it. how can someone so stupid be doing a position that carries so much weight in very crucial processes? I feel bad for the fellow loan officier I am working with, his paycheck depends on morons like this. i could not imagine. I am very glad that I can write loans on the properies I sell without an appraisal or survey.

I didnt even want to refi. between the wedding, honeymoon, bathroom remodel and work I really dont have time for this but my dad said I could really save a lot of money so I tried before rates go back up.

[RSBro]

trust me, i am fighting this horseshit tooth and nail. i have already called 4 local agents who actually know what they are doing and am getting cma's and plan to just destroy this noob. you should see the dumps he presented as comps that sold for much higher than he valued my house at. i just dont get it. how can someone so stupid be doing a position that carries so much weight in very crucial processes? I feel bad for the fellow loan officier I am working with, his paycheck depends on morons like this. i could not imagine. I am very glad that I can write loans on the properies I sell without an appraisal or survey.

I didnt even want to refi. between the wedding, honeymoon, bathroom remodel and work I really dont have time for this but my dad said I could really save a lot of money so I tried before rates go back up.

ever heard of the "IRS" brah? stupidity armed w/ power is never a good mix.

[Lloyd Blankfein]

trust me, i am fighting this horseshit tooth and nail. i have already called 4 local agents who actually know what they are doing and am getting cma's and plan to just destroy this noob. you should see the dumps he presented as comps that sold for much higher than he valued my house at. i just dont get it. how can someone so stupid be doing a position that carries so much weight in very crucial processes? I feel bad for the fellow loan officier I am working with, his paycheck depends on morons like this. i could not imagine. I am very glad that I can write loans on the properies I sell without an appraisal or survey.

I didnt even want to refi. between the wedding, honeymoon, bathroom remodel and work I really dont have time for this but my dad said I could really save a lot of money so I tried before rates go back up.

I'm sure you absolutely know this already, but I'd check out the underlying benefits of those comps. They may look like shit, but there could very well be a reason for their inflated prices.

Look at the school districts it sits in, what highschool it'll feed into and where the gerrymandering has taken place. Even though its right across the street, it could be right on the good side of the line for the better school and more favorable representative, I mean benefit cough.

I remember stossel did a report in Nebraska where a housing tract was sitting in a once usda zone that received farm subsidies as long as you declared you'd never grown corn (on your .0001 acre lot). Lines were never redrawn to accommodate the now suburban project.

Maybe something stupid that you can't see is happening?

[Lloyd Blankfein]

trust me, i am fighting this horseshit tooth and nail. i have already called 4 local agents who actually know what they are doing and am getting cma's and plan to just destroy this noob. you should see the dumps he presented as comps that sold for much higher than he valued my house at. i just dont get it. how can someone so stupid be doing a position that carries so much weight in very crucial processes? I feel bad for the fellow loan officier I am working with, his paycheck depends on morons like this. i could not imagine. I am very glad that I can write loans on the properies I sell without an appraisal or survey.

I didnt even want to refi. between the wedding, honeymoon, bathroom remodel and work I really dont have time for this but my dad said I could really save a lot of money so I tried before rates go back up.

ever heard of the "IRS" brah? stupidity armed w/ power is never a good mix.

I got audited this year. Perhaps my corp name wasn't the best, "tea party farmer for America-Jesus jock- god squad heavenly produce producers crucifix creek farms LLP inc."


lol

[sleewell]

i hear ya but i dont think so man, my school disctric is one of the best in the area. i researched that before i purchased. most of the comps were actually in the same school disctrict just much farther from the lake which is where the nicer houses are.

its honestly not a case of me being emotionally attached to my house. i gave it to my boss to review and 4 agents in the area and they all agreed and would have been honest with me. i think appraisers are just told to be pessimestic bc they prolly got hammered for inflating values in the past.

[Lloyd Blankfein]

i hear ya but i dont think so man, my school disctric is one of the best in the area. i researched that before i purchased. most of the comps were actually in the same school disctrict just much farther from the lake which is where the nicer houses are.

its honestly not a case of me being emotionally attached to my house. i gave it to my boss to review and 4 agents in the area and they all agreed and would have been honest with me. i think appraisers are just told to be pessimestic bc they prolly got hammered for inflating values in the past.

My question is why do you want your property valuation to go up? You are looking to sell?

I know you don't want to hear it but a lot of home "upgrades" rarely pay off. I know we watch those hgtv shows and they claim a new fridge brings 30k to the nut, but I'm fairly convinced anything short of an Olympic pool with a matching Fontana di trevi replica will not produce a result.

Some people, most people just do not give a fuck about their homes.

It's like, "oh nice paint" (they'll just let it goto shit)
"Nice landscaping!" (Future moon rock/moon surface lunar landing site), etc.

They just don't value it. Fucked up too.

[sleewell]

the better my ltv the less pmi is required, possibly none at all. i didnt put the full 20% down when i bought so i could get that 8k first time homebuyers credit.

maybe the improvements dont help but i dont see why the value went down from when i bought it when the market has gotten much better.

[Lloyd Blankfein]

the better my ltv the less pmi is required, possibly none at all. i didnt put the full 20% down when i bought so i could get that 8k first time homebuyers credit.

maybe the improvements dont help but i dont see why the value went down when the market has gotten much better since when i purchased.

Has the market really gotten that much better? I notice commercial/land is going strong but is residential that strong?

[sleewell]

holy shit yes. supply is low, prices are being driven up, demand is high while rates are still low. people have been on the sideline for the last few years, there is a lot of pent up demand and not a lot of supply. we are putting up record sales numbers in michigan as well as nationwide. our sales price to market value is outstanding right now. I LOVE TX in particular. just got one in san antonio and had it under contract in 5 days for 225% of market value, i was getting 30-40 calls per day on it and still am. my main problem is that we just dont have more stuff to sell.

there is a reason many large scale investment firms are buying single family residential houses, they have found the return to be better than all other fields right now.