Author Topic: Anyone an appraiser?  (Read 2644 times)

fidgiegirl

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Anyone an appraiser?
« on: August 15, 2013, 07:47:25 PM »
A girlfriend of mine did real estate appraisals as a side job when the market was hot and got out of it when things tapered off.  Things are heating up again in my area and I was wondering about potentially getting into this as a possible sideline or future flexible piece of the income pie.  I thought it would also be a good way to expand my real estate knowledge for my own investments or as a way to explore becoming an agent?  I dunno.  It's a teeny little baby idea and this post is one of the first forays into researching the possibility.

Is anyone an appraiser?  How hard is it to get into it?  Thanks!

fidgiegirl

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Re: Anyone an appraiser?
« Reply #1 on: August 16, 2013, 04:39:14 PM »
Yoo hoo?  No one?  Really?  If anyone has any ideas about this, they are more than welcome.  Thanks!

Another Reader

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Re: Anyone an appraiser?
« Reply #2 on: August 16, 2013, 05:03:18 PM »
Appraisers require licensing and certification.  Residential appraisal certification requires some number of hours of classes and some number of hours doing appraisals working for someone else.  Check your state's licensing website for more information.  20 years ago, this was a well-paying job.  Not so much today.  Most people I know that had residential fee shops are out of the business now.

It's much easier to get a real estate license, but the jump from getting a sales license to making money selling real estate is big.

fidgiegirl

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Re: Anyone an appraiser?
« Reply #3 on: August 16, 2013, 05:21:59 PM »
Thanks, helpful!

Another Reader

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Re: Anyone an appraiser?
« Reply #4 on: August 16, 2013, 06:06:40 PM »
Also, there was a lot of demand over the last few years for appraisals for refinances.  At the same time, purchases started to pick up.  Mortgage brokers and appraisers were very busy.  Now that pretty much anyone that can fog a mirror has refinanced at a historically low rate and rates have gone up, a lot of the mortgage business is focused on purchase money.  You can watch the weekly numbers on mortgage applications to get an idea of how busy appraisers will be.  Here's the most recent week's data.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/85315.htm

MountainFlower

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Re: Anyone an appraiser?
« Reply #5 on: August 17, 2013, 12:42:12 PM »
My neighbor got into appraisals during the bubble.  You have to do a lot of appraisals under a licensed appraiser before you can go out on your own.  Sometimes it can be hard to find someone.  Also, She had to bring in her own business.  That meant contacting and networking with banks and mortgage lenders to get business.  So, a lot of the work in the beginning was actually selling herself.  Things have changed a bit, but she's making good money now. 

This is Colorado.  The rules here have really changed recently.  I don't know if it's harder or easier to get into the business after the changes. 

Another Reader

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Re: Anyone an appraiser?
« Reply #6 on: August 21, 2013, 07:46:26 PM »
Here's a good indication of why it might not be a good time to get into the appraisal field.

http://www.bloomberg.com/news/2013-08-21/wells-fargo-said-to-eliminate-2-300-mortgage-jobs.html