Stop “Trying” to be…
Somebody.. as a person wrote. Something that they are not taking into account is age. I make a bad liar. I have been self employed and “Tried” to work for a few people at several times in my life. 2 were the only 2 National Appraisal Firms. Both paid worse than working at a Fast Food Restaurant. And the 2nd time, I stayed for 5 months.
I told no one in my Network that I was working for someone and literally was working about 60 hours per week at what was less than 10 dollars an hour and now on top of that, taxes were taken out. I woke up to poverty real fast.
How dare they take anything from anyone making poverty level income. I did it in the field I worked at for tons of years. They demanded that I conform to their style and how that was done was with nightly conversations with a sweet woman in the Midwest. She was not teaching me how do do my job as I can do that better than anyone in their firm. She was teaching me “Their Way.”
My Industry, Real Estate Appraisal is a Creative Art, not a Science. I type my deals in capital letters. Why? I take enough time to write the most expressive forms that anyone across this big Land can easily understand. I write for the “Laymen and Laywomen.” In the end, when I was told to do something illegal, I went over my boss’s head to the Owner. After that, my email was taken away and I never had another word written or spoken from them.
What I lacked was the ability to quit. When I say I will do something, I have the sense of duty that my Mom reminds me of. She says her 4 children all have it. In my case, it is a true curse. I forget about myself and ability to support myself and am only concerned with end result perfection.
Look at what I am doing here: writing to no one for no money. But, I feel that if only 1 person reads this over the lifetime of Medium.com and I save them even a moment because of the amount of honest love and devotion that I put out each time I write, I am satisfied. Poor, but satisfied.
When you are past 30, I put you into a different category: the no more excuses one. But, I was thrown a curve ball at 49 years old and will last until long after I am dead. What ruined my Industry was an Act of Congress. The powers that be have blamed Real Estate Appraiser’s for as long as I have done it since 1985. But not until May of 2009, when the bundled loans in the Movie: “ The Big Short,” that does not tell the entire truth, but enough for most to understand that selling bundles of thousands of loans on Wall Street, but lying and putting with “A” Paper which means: the best possible loan along with “B” which they say… but not “C and D.” Those 2 that took us down had nothing to do with the appraiser who appraised the home for what it was worth. We don’t know or care who gets the loan. Scape Goat is a perfect term for the appraiser and in my lifetime, I will see an end to a long lived Industry.
Anyone who happens to come across this can see I have written tons on the fall of Real Estate in the USA and the movie I spoke of that not many I have spoken to have seen tells more.
The Average Appraiser is 65 years old and many are turning 80, including the wonderful man who taught me. You would have to be a “Moron” to become an appraiser by getting a BA, or 4 year College Degree in anything and then a minimum of 2 years as an “Apprentice” under an appraiser who has no time to teach you due to the Act of Congress, creating the AMC that are expensive, bothersome, worthless money grubbing people that have nothing to do with anything except take the appraiser’s money, use it as their own and pay the appraiser when they feel like it. Sometimes, they don’t pay. But even when they do, the demand of 1 week to have an appraisal is not professional and it is demanded by them or they will move on to the next one.
Since You can no longer have others working for you, income goes down there. Since you have no time to complete the work, income goes down there.
Congress has their heads up their asses and they ain’t commin out for notin!
Licensing and Certification of Residential and Commercial Appraisers only started in 1992, due to the 1989 Savings and Loan Scam that started this mountain of crap that I find myself walking in daily. To go from six figures with people working for me, to just me and only being able to complete a few per week and paid 1 to 3 months partially of what they take from a Borrower’s Credit Card immediately or no go for the borrower. They make the person paying think that the appraiser is getting say five hundred dollars immediately. Before May of 2009, the most I could charge was $350 for a single family report. Now, they charge $500 and the people get upset that the appraiser is overcharging them. It does not say: AMC is taking almost 1/2 and paying the appraiser when they feel like it.
And the People who run The Appraisal Foundation in Washington previously said: We know what is going on…. and then said it is getting new people into the Industry. Those dummies don’t know they are loosing experienced appraisers at a rate that will leave no one left to train a new person. This leads me to say: Washington has it’s collective heads up their asses and none commin out before appraisal is done in the USA for good.
Some say: They need boots on the ground because: the value of homes is based on the condition and you only know that by going inside. What they will do is hire people to take pictures and use “Zillow” and other Averaging Services to take over once we have left for Fast Food Employment at worst. Young enough, you can change your Business. Old like me and you go into: Entertainment.
Yes, I am wise, but it’s wisdom born of pain. Yes, I’ve paid the price, but look how much I’ve gained. If I have to: I can do anything: I am strong, I am invincible… I am Woman. I know, I am a man, but that was a song from my error by Anne Murray from Canada I believe.
I am strong, but too old to start from scratch. I am also not a dummie, so I see I am being phased out… but it is not just me. Real Estate hit a peak in 2005 and we may never see that high of values again in the USA. If we do, it will not be on existing construction. It will be new construction for Yuppies that found a niche.
I know, I wrote up a storm here as if I had magical powers to stop this from happening. Realize it or not, the Republicans say they will repeal the laws that Congress f’d us with.. but once thousands of people are parasites on your money stream, they not gonna leave… ever. It will be that it is no longer required, but things have been so much smoother since the Appraisal Management Companies were put into action in May of 2009, a date that will live in flatulance. 20% loss per year of existing appraisers since this AMC blight has done nothing but perpetuate themselves.
Last part: most of the Big Banks own their own AMCs. I won’t name them, but know, there is only 1 that finally sold their interest in the AMC they owned. It is Ok for a Bank to own their own AMC as it still is a go between.
What they don’t answer is why a go between that has no professional knowledge of appraisal is needed for. But, I think you know where I am going. They were never needed. Congress got Lobbied and money passed hands. They acted like the appraisers took kickbacks. That did happen before Certification, but now, with Fannie Mae, Freddie Mac, FHA and VA getting every report and signature sent directly to their main frame Computers, they are gearing up for the boom.
If I would have quit at 49 when this came to be in 2009, it would not make a difference as I am now 55 and that to me is the same. I don’t know how many more times I will write about the underhanded way an Industry that was the only thing making a poor person be able to gain wealth with Equity. Now, there is no more of that. If you bought in 2007, 2008, 2009, 2010, 2011 and part of 2012, most likely, you owe more than your home is worth and that makes it easier to say screw it. I own a duplex and can rent out by putting a hand written sign. Within a few days, I will have Tons of calls and get a great tenant as buying is not the key to moving on up to the “East Side.” The piece of the pie is divided by too many and the people who do the work are treated like bad pennies.
Don’t no one see? I think they see and don’t care. Is there anything that can stop it? One way: take a bunch of people in front of a speeding train. Eventually they will act as brakes and after a few hundred are beheaded, it will stop.
Jeez, I actually said that! Sorry, that means I went too far.