Lynnea Miller, Premier Real Estate Service in Central Oregon (Bend Premier Real Estate)

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Rainmaker
1,153,050
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 Why 3 month? We have several lenders will do VA with 30+ day COE faster than FHA.

I heard most appraisers are dropping out or retiring. The terrible pay and requirement to have a college diploma and  years of apprentice experience, few are staying in business.

In your case it is not your fault ask for an extension. 

 

Aug 22, 2016 09:14 AM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

One of the last ones I had took 3.5 weeks and caused the closing to be extended. The appraiser couldn't be reached for days. 

Aug 22, 2016 09:09 AM
Rainmaker
1,639,426
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Yes, and also surveyor delays. Two-three weeks out!

Aug 23, 2016 12:36 AM
Rainmaker
1,722,050
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

That's ridiculous but you have to be a designated VA appraiser. Obviously there are open positions available or needed.

Aug 22, 2016 11:07 PM
Rainmaker
2,442,558
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

We don' have a lot of VA deals in our market, but even so, the appraisers are taking a couple of weeks before getting them done.  To slow, IMHO.

Aug 22, 2016 12:36 PM
Rainmaker
4,107,196
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Have not seen this as yet. Last two VA sales I had both closed in 29 days from execution of offer.

Aug 23, 2016 02:57 AM
Rainmaker
4,007,466
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

It is happening so much on VA deals right now

 

Aug 23, 2016 12:30 AM
Rainmaker
4,202,671
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

some delay, but certsinly not 3 months!

Aug 22, 2016 11:14 PM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Three months!!  Yikes.  Nothing like that around here.

Aug 22, 2016 10:57 PM
Rainer
231,919
Jessie Cochran
Counts Real Estate Group, Inc. - Panama City, FL
Panama City Realty Group

Not more than usual - just can't get one on a fishing day here

Aug 22, 2016 10:50 PM
Ambassador
1,616,354
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

We have a little slow down maybe a week at times due to appraisals and underwriters.

Aug 22, 2016 10:44 PM
Rainmaker
5,571,804
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

not as much right now as a couple of months ago....

Aug 22, 2016 10:34 PM
Rainmaker
919,073
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Not as of yet

Aug 22, 2016 10:29 PM
Rainmaker
3,329,712
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

3 months is unacceptable. I just had 4 weeks for a fha and thought that was bad

Aug 22, 2016 10:08 PM
Rainmaker
1,914,219
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not in my area.

Aug 22, 2016 09:56 PM
Rainmaker
6,597,738
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have not heard about this issue in our area.

Aug 22, 2016 09:49 PM
Rainmaker
4,093,732
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Three months?   Wow - I haven't heard anything like this.

It would be interesting to see some lenders/appraisers  share their experiences.  

Aug 22, 2016 07:58 PM
Rainmaker
634,282
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

We had a very long delay on our last transaction. it finally came in, 3 weeks after it was promised.

Aug 22, 2016 07:05 PM
Ambassador
3,750,197
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

we are not seeing that delay.

Aug 22, 2016 03:39 PM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Lynnea Miller - working with the experienced lender - and he plans everything in advance! 3 months is NOT acceptable for sure.

Aug 22, 2016 03:29 PM
Rainmaker
3,715,371
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nothing as bad as you described in your question. Needless to say I just closed a 30 day Escrow and we did not have the appraisal until day 23....Endre

Aug 22, 2016 02:42 PM
Rainer
352,876
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

I have not experienced any delays at all with appraisers, fortunately.   3 months...maybe the lender dropped the ball?  I don't have any VA and very few FHA.  For all my cleints I am getting calls from appraisers typically within 5-7 days and they are ready to schedule and get the appraisal to the lender well within the contract time line.  Fortunately! 

I would be beside myself for 3 months. 

Aug 22, 2016 02:08 PM
Rainmaker
620,258
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

This problem is making itself well known with the increased market activity. Much stems from lack of appraisers.  I believe the current average age is 60ish.  Not a lot of new blood coming into the field.  Mark

Aug 22, 2016 11:48 AM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I've never had a delay like that with an appraiser.

Aug 22, 2016 11:46 AM
Rainmaker
2,640,732
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Totally unacceptable unprofessional behavior no excuses or explanations

Aug 22, 2016 10:23 AM
Ambassador
4,576,494
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I've not had any issues with appraisal delays nor in the time taken for reports to be provided to the lender. No VA loans so far this year! But I've heard that the number of appraisers is declining so there may be more issues. Sam Shueh talks about this too

Aug 22, 2016 10:10 AM
Rainer
171,023
Richard L. Sanderson
Richard L. Sanderson Consulting - Kalama, WA
helping improve local property tax systems

Lynnea Miller - I believe that Sam Shueh is on to what's behind some appraisal delays. The demographics show that many appraisers are retiring or transitioning to higher paying jobs (to appraising non-residential properties, or other fields within finance or economics). But with the right incentives and changes in licensing requirements younger people could be brought into this field.

Aug 22, 2016 10:00 AM
Rainmaker
1,518,356
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

3 month for VA appraiser? What did your lender said? That is ridiculous. And the seller and buyer are patiently waiting? 

Aug 23, 2016 05:31 PM
Ambassador
970,386
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

 In certain markets we have seen delays - 28 days for a recent appraisal and it was a TERRIBLY put together report.  I plan on filing a formal complaint against the appraiser.  They're busy and getting sloppy.

Aug 23, 2016 05:29 AM
Rainmaker
555,828
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I appreciate all the feedback.  This crisis situation we are experiencing in Oregon will be discussed at our state realtor convention next month. It would unfortunate if we get to a situation when the only people who can purchase a home on a timely basis are cash buyers.

Aug 23, 2016 03:57 AM
Ambassador
952,622
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Some delays noted in my market across the board. Usually cause somewhere around 15 day delay in closing. 

Aug 23, 2016 03:49 AM
Rainmaker
1,386,168
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I usually get appraisers out within a week of them being ordered.  Usually 2-4 days.

Aug 23, 2016 03:06 AM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Aug 22, 2016 09:20 PM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

not so far

Aug 22, 2016 08:36 PM
Rainmaker
5,578,430
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lynne,

Sam Shueh gave you an excelent answer.  A

Aug 22, 2016 12:54 PM
Ambassador
5,401,094
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

The price of dealing with the government, life is too short. I avoid these situations whenever possible.

Aug 22, 2016 10:18 AM