What are Appraisers? Red Box or Block Buster Video?
How do we move to be more of a Red Box?
I stopped at a Sheetz to get gas. As I was standing there I noticed a Red Box Machine which had a steady flow of traffic. Next door was an old closed Block Buster Video. Hmm… When my kids were little it was a big treat to go to that Block Buster and rent a movie. We had to wait in line 5 to 10 minutes and now it’s closed. But the Red Box machine is steadily pumping out DVDs. So I got to thinking. What are appraisers? Are we Red Box or are we Block Buster Video? If we are the latter, our days are numbered. How do we move to be more of a Red Box? More technology, faster turn time, less personal intervention?
The average age of the appraiser is 58 and there are about 33% fewer appraisers. And the number is falling. We all know that. How do we right the ship. We may not be doing appraisals for loans much longer. But there are plenty of other uses of appraisals. Do end users know the difference between an appraisal and a BPO?
Well to right this situation, we need everyone’s support. VCCAI held its election and the turnout was overwhelming. We had nominations 2 to 3 deep for just about every position. Thank you to all the members for that. VCCAI will continue to have strong leadership. To combat the aforementioned change, the Appraisal Institute is putting on classes that will help you move away from loan work.
VACAP has not closed its nominations yet. We have a couple of new people that have expressed a strong interest in leadership. We thank you. If you are saying “Hey I want to help and be part of a greater good” the deadline is May 15, 2015. We need to find a replacement for Don Clark who after 30+ years is slowing down.
FYI, in June HUD has a new handbook that takes affect. I have embedded a copy below. And my useless fact: the suburb population is growing at 1.2% which is up from 1.1.%. Rural areas grew at 0.87% up from 0.56%. Metro Cities which were growing at 0.9% are now growing at 0.7%. Looks like the growth is moving back to the country.
Go Fight Win
By Alex Uminski, VaCAP Treasurer