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I don't know how the Jedi did it.

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There's nowhere to hold it.

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It doesn't have a handle.

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It doesn't have anything.

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It's a very uncomfortable weapon.

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It's very uncomfortable.

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They were probably holding like, it was probably all CGI.

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Actually, no.

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What are you talking about?

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It was real.

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Are you right?

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Are you one of those guys?

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All right.

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All right.

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All right.

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And welcome back.

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Little Matt McConaughey for you.

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Welcome back to another episode of Value Nation.

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This is a show full of random events, just like life.

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But more importantly, we're here to help everyone understand appraisal and appraisal management

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business, just a little bit better.

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We're going to keep it light, have some laughs like we always do, usually at our own expense

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and talk about the things that we do.

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And we're going to be talking about the things that we do.

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Have some laughs like we always do, usually at our own expense and talk about some headlines

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in the housing market.

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Don't forget, watch us, listen to us, follow us, like YouTube, TikTok, Instagram.

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Are we tweeters?

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Twitter?

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I believe we're on Twitter.

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Charlie, you got to help me out here once in a while.

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Twitter.

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Yeah.

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Yeah.

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No.

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No.

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I think I said the TikTok.

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No, no.

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Anyways, we're out there.

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You can find us on Apple Podcast app.

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Like, subscribe, tune in.

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Let's do this.

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So, what we got?

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What kind of plans do you have for the holidays?

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Yeah, absolutely nothing.

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I love it.

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You love it?

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Yeah.

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Really nothing.

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So, shared custody situation here.

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And we rotate every other year back and forth.

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daughter stayed with me on Christmas Eve. So I'm I'm loaning it up on Christmas Eve this year.

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So I guess that's a good segue. So tell me what's your what's your go-to Christmas drink from there

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because you're going to be sipping on a couple of them on Christmas Eve by yourself. Hot toddies baby.

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Hot toddy. Dude I make a mean hot toddy. I tell you what I make a mean hot toddy dude. I have never

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heard a grown man say that ever. What? If he's not bartending. Yeah. Oh man no man good bourbon.

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Good bourbon. Some honey. Some lemon. Some hot water man. It's it's that's my go-to if I'm like

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feeling sick. I'm starting to get cold. Well yeah oh yeah I'll just take a shot of JMo right to the

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base if I'm feeling sick. Let's just burn it right out. But it's like like like my go-to drink is just

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bourbon neat or bourbon on the rocks. Like that's that's my go-to. Yeah. You know nightcap whatever.

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So it's a nice change of pace to actually like and your drink of water you're hydrating while

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you're doing a little bit. You're hydrating a little bit. I mean I'll probably see in the morning.

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I'll sprinkle some of those in this season. Well I mean I'm an old-fashioned guy like I like that or

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bourbon on the rocks. I'm lazy man. I really got to um I really got I just gotta get the bitters

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so I can start making some more. I mean I've never gotten the right stuff so I got new motivation. I

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do have an update that is kind of coincides with value nation. So this is a decent segue to what

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I want to talk about next is uh is moving rooms around the house. The um so I think I'm gonna have

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like an actual office because currently my desk is set up in a living room. That's why I don't sit

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that's why I don't sit at my desk with this because it's like I got the dog's tail behind me. Like I

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did the very first episode. I got like some of my chief's memorabilia. You can see the stairs are

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right there. Oh yeah yeah okay. Yeah it's a weird spot in the house but like it made the most sense

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whenever I first started working from home. I just never changed it but um so my daughter is getting

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older now and like right now our doors are right across from each other in the hallway. She's 13,

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eighth grade, gonna go into high school next year and her and I kind of had the talk where she

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wants to do what all kids do when they get olders move to the downstairs bedroom. Right. Where it's

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like her own little apartment. She's got her own bathroom in here. Living room will kind of become

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her little space and so like I'll have the upstairs she'll have the downstairs. Like it's happened.

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It started happening. Like what age is a pro like do you do you agree with this timing? She's 13,

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halfway through eighth grade. Like I did the same thing right. Yeah I did. I did the same thing too.

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Like when my older sister moved to college I started begging to take that downstairs room

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because it was always like the oldest privilege to yeah exactly in my house. I might have been a

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freshman in high school. Yeah I might have been my freshman year when it when it finally when it

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finally happened. Yeah because there was four of us in the house four boys in the house.

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Older brother had it first then he was out and it was my turn yep and then my two brothers after

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that. So yeah it must have been it was like early high school. So eighth grade I mean I guess

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it's I like it. I like it for selfish reasons. I'm gonna turn her bedroom where I did the

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recording you know. Yeah you've seen every room in my house at this point. But uh I'm gonna turn

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that in my office and that and that kind of came from the hot toddy old-fashioned situation because

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like it's not a huge bedroom but I will have I think I'll have room in there to put the desk

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maybe like a little love seat get a tv in there and I'll set up like my little that's where like

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all my bourbon bottles would be. I'll have like a little bar set up in there so then maybe I will

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actually like get some betters and get some other stuff to where it's like an actual bar set up.

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I like it yeah dude I like it. It's like the man room the man office it's not a big cave

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because it's upstairs you can't call it the cave right. No you can't no that's a great idea so I

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had so I have I have an office it's a bedroom but I have a separate bar down on like the on the main

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floor like I said with like a couch and the trees there and all that good stuff. But I have the only

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problem with that is like I don't have a cool place to display all the really nice bottles and

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stuff I got like I got a so I turned 40 last week and oh yeah happy birthday by the way man

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you're just gonna skip over that I was just gonna let that one go you're just gonna skip over it

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yeah you didn't see it on the notes come into this you're like I'm not gonna say a word about

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that. I wasn't going to but now you just you struck me with this freaking bourbon conversation

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so my wife she's the the best she threw me a surprise birthday party um she's been planning

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and lying to me for months now she's apparently she's a very good liar and I'm very terrified at

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this point but I've been like backtracking thinking about all the weird crap and I'm like oh now it

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makes sense for like three months but she had people show up that I haven't like uh all my

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brothers came in friends from Ohio um all people around here in northern Virginia all my friends

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came in um family it was great like I met my little nephew for the first time haven't seen him

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he's almost a year now yeah he's a year this month um my brother was there so anyways it was

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fantastic we did it was at a uh a distillery which was all about bourbons and gins oh sweet

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and so but everybody even though my wife's like don't bring give him anything he's a grown man

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like everybody brought like a bottle of bourbon for him so now I have like you all of these like

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this assortment and plus they someone gave me a kit on actually to make my own bourbon

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which is really cool I've never done that before that's what that's what I've been working on

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that's why I would need like a back bar for it though you know I mean there are some place to

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display all the bottles instead of just putting it underneath in the bar oh no you gotta like I

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want to look at it it's like in all its glory dude I I went to cheap rat on it and I don't mind it

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like I bought because I like wine too um I just bought like some like like these four

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shell wine racks because they have the top off so like I keep my wine and the wine racks and then

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like it's got like a shelf right above the top so like shorter bourbon bottles can fit in there

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and then on the top I just have my bourbon bottles kind of display you know tallest to shortest

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like what that's a good idea yeah I mean dude yeah like 30 40 bucks for one of those things

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I built I built the bar we have so like it's like a palette bar I kind of want to do that for the

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office though because I'm because I don't want to better set up in like some of the cabinets

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or get you like then you got to get like a smoking jacket and some house shoes you know that I hey

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I got the house shoes on right now yeah so do I it's the thing Christmas next year I'm gonna get

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we're gonna just a nice little you have smoking jacket don't judge the house shoes man they're the

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they're the best that's literally what I'm wearing yeah the hug house shoes I mean not the brown boots

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things like probably they got the rubber on the bottom you can wear these in the grocery store

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if you want it's a shoe it's typically a shoe but it's a house shoe but it's got the nice fur on

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the inside it's like a it's a pillow for your foot it's a warm hug for your foot yeah

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oh my god get me back on track all right new segment new segment alert new segment let's do it

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we've never done this I like this I like this idea on this day so we're gonna roll through some on

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this day's so this is gonna air December 16th a week from today so we're talking about while

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we're filming so I'm gonna run through just you know for anybody watching on the 16th on this day

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the day this is gonna air big one right here baby Boston Tea Party let's go oh 1773 342 chests of

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tea the British East India Company in the Boston it's a party dude that's crazy though that's

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pretty that's a pretty nice on this day to have on actually yeah yeah then one is not so nice

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1631 Mount Vesuvius oh yeah not so great not so great uh 1944 beginning of the Battle of the

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Bulge there was something about um it was like wasn't that it was based on like a bridge or

140
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something that that both sides wanted and needed and today was the day that somebody crossed over

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the other's minds and that's that was considered the beginning of the Battle of the Bulge which

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lasted forever um and then 2009 the movie Avatar was released

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oh and part two part two is uh coming up yeah coming up yeah that's right internationally

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internationally released 2009 I saw the wildest thing that I can never unsee again about Avatar

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um this was last week I caught my you know scroll paralysis and

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comparing movies that had gotten completely ripped off from other movies okay Dances with Wolves

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so think about it the army takes like like wasn't he kind of like a broken man or something like

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that forget what like or he was disabled or something like that so they made it to where

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yeah he was disabled so Kevin Costner yeah well he was deemed unfit for action right yeah yeah

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yeah that's what it was so they sent him to go be friends the Indians and then make it to where

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um to teach them about our culture about the colonization that was coming their way he ends up

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becoming more than just friends with them like learns their ways embraces their ways falls in

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love then ends up fighting with the people that he was sent to colonize against the people he was

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sent there by that are trying to colonize them hold the phone it's the exact same story as Avatar

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did you come up with this on your own because otherwise no I wish I did I wish I could take

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credit but dude James Cameron ripped off Dances with Wolves it's the exact same story exact same

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plot line except it's just blue people except for it's yeah blue people on another on another

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blue people in another on another I've been wanting to talk to somebody about this ever since I saw

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that blew my mind I was like this is complete ripoff complete I wish I was smart enough to come

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up with these things I oh my god okay well I well let's see which let's see which movie he

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rips off of the second one right we'll see I mean that's wild man I never even never even

162
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would have connected the two but I see the story and how they play out um great no that's another

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that's another one you could fall asleep during but still it's good yeah yeah it's long it was long

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how about some uh what's the magic mortgage mortgage numbers I can't believe you turn this

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into a thing but okay we're gonna run with it the magic mortgage if I can't even say it

166
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magic mortgage I can't say they're magic mortgage numbers what if we did like you're gonna play

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a little simple give me some all right so let's see all of our data as we know is through what

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um this is for up through October right yeah members will be out yeah they released the numbers

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on like the 18th or something like that the next month so it takes a while to go through all

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the see but before we get into that data today's magic rate is 6.33 on a 30-year fix

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we're coming back down that's four straight weeks of the rate coming down what were we at last

172
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last filming six point uh six point four nine was okay oh yeah down from six point four nine is that

173
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yeah read your notes michael I mean reach your notes michael I mean it's coming down it's going

174
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in the right direction buying power still is questionable um they say that the buying power

175
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of well I'm sorry the inventory and the amount of home purchases for the values of like 100,000

176
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to 250 and anything over a million those two segments are way way down really yeah and they

177
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said they attributed to that to like so in the lower lower half it's uh it's availability and what's

178
00:13:53,920 --> 00:14:00,400
there right and then for a million plus it's all those people have taken a bath in the stock market

179
00:14:01,040 --> 00:14:10,720
and um any kind of like 401ks everything so they have less to pull out for like down payments and

180
00:14:10,720 --> 00:14:17,440
stuff like that um interesting but I mean that's a wide range in the middle what are we talking about

181
00:14:17,440 --> 00:14:24,800
two two fifty plus up to a million what else give me numbers give me I got you I got you ready uh

182
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nine straight months of existing home sales declining as of the end of October uh yeah no

183
00:14:32,000 --> 00:14:36,560
yeah the number of sales yeah that's still a while to think about nine straight months

184
00:14:36,560 --> 00:14:39,920
of the number of homes being sold declining well yeah after the last two years we've had

185
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um let's see 5.9 percent sales fell from September to October so year over year it's like 28 percent

186
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28 and a half percent roughly okay lumber lumber is a huge thing right within these new construction

187
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and all this stuff that you know to try and bring the inventory back up um lumber I didn't know that

188
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it was based on per thousand boards per thousand feet of boards sorry yeah they gotta have some of

189
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the terminal price I didn't know that I would have so that's right that's how it's like the

190
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stock is traded you know like gold and crude it's an interesting because you see the that's why the

191
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numbers are so big so like as of right now it's they're going at 419 420 bucks roughly per

192
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thousand feet of board right just say 420 I did say 420 you're right just checking

193
00:15:36,480 --> 00:15:44,960
okay if you got it now now legal in Missouri is it well it's legal in Virginia too yeah um that's

194
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a down what 420 bucks per thousand feet of board of lumber down 70 since March it peaked it peaked

195
00:15:53,440 --> 00:16:00,640
it over 1400 yeah which which makes sense that hits home with me because I need to read read do

196
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my deck oh yeah the frame is good so I don't need a whole new deck but like everything else is gonna

197
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go stairs railings you know boards on top do you have real wood or is it that trek deck stuff no

198
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it's real wood um and but you know I was talking about doing it in the spring and in the summer

199
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and everybody said no no the price of the lover the price of lovers get caught you like that was

200
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the time to do it it's like who will do my deck right now because I mean the cost is

201
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yeah you live in Kansas City there's nobody's gonna be working outside right now in December

202
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it's cool yeah no it's so up and down though Kansas City weather update 41 degrees high of 48

203
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low of 32 hey we had a see we have this low pressure system coming from the south

204
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that's gonna combine with this high pressure system from the north we need to get you a green

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screen and that's bringing in some of the that front is bringing in you know the cold air

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from Canada and it's gonna push out you know it's gonna cause high winds for a little bit maybe some

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rains the two two pressure systems combined is gonna push out to the east over over your direction

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and then from there it's just gonna be frigid for you to practicing that like that was that was

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really well done I used to want to be a weatherman I mean it's one of the only jobs you can get like

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wrong 90 percent of the time still have it's educated guesses just like being a dad

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dad can I eat this I don't know let's if all how long was it on the floor

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yeah sure sounds good all right second rule now let's make it a 10

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that's I mean yeah that's what we're here for educating the young our young minds educated

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guesses our youths just out here guessing baby so so we're six episodes in right and we haven't

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really told people what we do with an amc what do we do an appraisal management company appraisal

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management company let's let's let's break it down a little bit for them so that you know if they

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don't really have a full full picture um they get a little better idea it's not just not just an

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order taker and would you call us like the fluff not fluffer the buffer the buffer yeah totally

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we're kind of the buffer between you know those those parties handling the mortgage and then

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who needs to appraise right and dividing line between yeah I remember when I first got in the

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business there was a lot of those conversations of uh oh man I remember when I could just text

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or call the appraiser myself you said I still I still yeah you're the problem that's why

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I still hear that like yeah you know back in the day I could have just called the appraiser myself

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and we talked about this we're like no well you know that was um it's a little bit of a conflict

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of interest there so yeah a little bit I mean the fact that people are still saying that and amc's

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like we're the first amc license in the country and we've been around for what is it 13 years

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12 years yeah we're not the oldest amc not the oldest amc we're the first first licensed guy

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to get a state license yeah Arizona right yeah Arizona zero zero one but um so yeah so the amc

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is there to like we we provide a service and we we're not necessarily providing a product we're

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providing a service that helps troubleshoot through the entire appraisal process and and also helps

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check the boxes on a bunch of requirements and things that are needed to be done along the way

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and after the report's completed right right a lot of uh a lot of those sticky uh compliance

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uh pieces that are now required or if it's like a fha file um usda all those guys like

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there's a whole nother level of checks and balances that amc will do for files like that so

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that so yeah yeah you gotta make sure certain certain things are getting done during the

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inspections it's it's not as simple as like you know we touched on what happens during appraisal

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and yeah it really is kind of a simple thing um it's not the same as a home inspection like

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what we talked on that episode but there is certain requirements based on the loan type

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that right certain things have to be inspected and tested for some loan types versus the others and

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and obviously the company you're working with as an amc has to know those things and double check

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the report to make sure all those things are touched on and present before it is delivered

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and then you know to add one layer to it i mean we it doesn't i guess we can kind of go out of

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order here it doesn't necessarily matter um you know after we review the port and everything's

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touched on we checked all the boxes reports good to go and be delivered um satisfactory then there's

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these various portals that we have to upload these reports to as well and deliver those cylinders and

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mortgage companies banks um you know fha has special portal has to go to fainting fainting

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freddie you know has to go through ucdp and produce ssrs and send those through and then

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sometimes those ssrs fail sometimes upload fails then you got to go back look through the report

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figure out okay yeah this we got this error message we got a grill support our support staff

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really guys fix this right now i i do myself you know my background started i was man my amc

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journey's nuts another sidebar i was like qc strictly then like qc escalations qc management

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then went over to vendor management and went to like vendor management then upper vendor management

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then vendor manager manager then like operations manager basically and then sales and account

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management it's basically where we're at now so it's like i've gone through the whole spectrum

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it's like i i can't stand waiting to get stuff done so i i have you know i got my access i got

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my username and password for for those various portals and when there comes up i mean i die

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i think most of them are so easy fixes most of the time but the thing is is that's that's a big

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benefit to using an amc is we have staff and lots of staff who understand and know and have seen a

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million of these errors versus trying to handle it yourself as a lender and then reaching out to

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people trying to figure out okay well we're getting this you know it says the xml file which appraisals

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are uploaded in xml files there's an htp8 code error blah blah blah what does this mean it's like

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well you got a corrupted xml yeah like you need to get that from the source save it once upload it

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to the file it should work it's somehow getting corrupted through emails is what i found on that

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one like it's little tidbits like that that we've seen a million times because we deal with multiple

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different clients so we deal with a larger volume of orders so we're going to see more errors than

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a lender would see just dealing with strictly their appraisals so oh yeah from the sheer amount

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of volume that we do so we're going to be able to help you out troubleshoot things a lot quicker

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and get you your report and all the necessary documents which is all anybody wants to see in

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the end right they want service man service service with a smile service with a smile all day tangent

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or another schwarz tangent sportsy tangent yeah i don't know i get fired up talking about appraisals

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uh what's another big piece that you would say i mean we'll forget that we do well i mean obviously

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the the most obvious one is is we have to find appraisers and assign orders and that is some

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people you talk to do you ever notice some people will reach out to you like it can't be that hard

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keep just just finding appraisers send it to you like it's really it's really not that easy like

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it's not as it's not like yeah you can we get an order we double check to make sure everything's

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correct and your address is you know tied to usps so that's correct you know loan type matches the

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the product i mean all the necessary information's in there then we go like okay what appraisers are

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in this area and it's not like all right well this guy is five miles away ratings are good

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checks out clicks and and they don't forget about the order it doesn't work like that right doesn't

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necessarily mean that guy's gonna accept the order yeah that's the biggest piece uh especially when

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we're everybody was really busy over the last couple years right um it was it took a lot and

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you know there are extended turn times because of it and let's be honest like everybody has heard

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this i'm sure at one point or another that appraisers is that that's an aging slash dying

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employment you know um job right average age of the appraiser is what 65 or something like that

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it's i'm talking about that seven years ago and it was like 55 58 yeah so these dudes are getting

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older it's only got up since yeah they're only getting older and we're uh regulations and rules

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that are in place that make it extremely hard for someone new to come in and be a part of this so

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yeah so to your point like it there's no guarantee that since there's such a small pool there's no

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guarantee that that first guy that looks great on paper that his schedule's gonna line up it

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doesn't mean it's a big thing it doesn't mean to accept the order um we can't and then it always

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comes into the question on cost you know a lot of people don't understand the cost on appraisals

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and like we we cannot dictate and tell appraisers you know what what they can charge on work right

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that goes against a lot of stuff we're gonna get a lot of state violations if we're telling them

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you know you have to take it this amount of money so you know the the reasonable and customary thing

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comes up we have to make sure that what we're paying these appraisers is reasonable customary

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you know against the vast majority of appraisers in that area and you can kind of use that to gauge

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to see if an appraiser just happens to be charging for something on those lines but yeah man so

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so we have to have checks and balances in place to make sure you know if we assign an order it's

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getting followed up on in a timely you know reasonable amount of time to make sure it is

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accepted if it's not accepted we start looking at other options and there's you know a high

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percentage of orders where we're having to reach out to multiple appraisers to see if they will

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take it on a decent amount of orders so i mean there's a lot of work that goes in even before

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the file gets accepted right yeah there's a lot of that a lot of the verification piece is huge

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too like you mentioned make sure everything lines up there i feel like i feel like the most important

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part of the appraisal process for an amc is getting an order accepted like the clock starts

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ticking yeah everybody once that appraisal is ordered and the faster you get that thing accepted

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accepted and then our team goes on and makes sure that to help if necessary facilitate the scheduling

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with the borrower or the point of contact and that can be a process in itself as well right because

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dealing with people deal with schedules yeah sometimes you're dealing with an assistant to

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an appraiser you know an office manager what have you the borrowers all have their own window of

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opportunity everybody has you know people have jobs availabilities can sometimes be very limited

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and we have to try and line those things up and it's not always that clean right speak about the

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past two years on the schedule part's been the hardest part of the whole thing i mean oh yeah

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yeah letting people into your house letting a stranger into your house yeah that threw a whole

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new wrinkle oh yeah covid really screwed that up there's a lot of people who wanted nothing to do

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with someone new whether they were wearing a mask or not come into their home or even be around it

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and then also think about the safety of an appraiser the appraiser on on everybody does it

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differently but i mean sometimes they'll have like inspection days to where like two or three days a

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week they'll do all their inspections they could be at any up to six seven houses in one day so

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think about all that exposure to that person and then they were at a house and taking that to the

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next house and domino effect right right a couple days a week so think about their safety too i mean

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the whole thing was a logistical nightmare for the past past couple years and if you weren't working

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with somebody who as far as names he goes who you trust who has your back who's there for you and

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kind of has an idea of what they're doing there has the manpower to to handle like the length of

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time and order was taking as compared to you know no virus no no restrictions on nothing man you

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were struggling you were struggling if you weren't working with someone that knew what they were

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doing right i mean all the uh the regional guys uh and smaller players if you will they had you know

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they had best intentions in trying to help facilitate some of the orders during that

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time frame but sadly they didn't have the manpower to really stay on top of it when we were going

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through an industry time or a market that was bigger and crazier than anyone we've ever seen

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right for two straight years that was the time where manpower was probably the biggest

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like the amount of touches an order gets the amount of times an order gets opened up

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to do something whether it's checking up on status reaching out to an appraiser to see if

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everything's going all right you know checking like the amount of touches per order i bet you

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would probably double during that time easily so if you didn't have the people to check up on

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orders you were struggling which which we do have and we still do have we still do have

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a large staff i mean obviously times have been tough for everybody but we still have

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we still have large staff here that's that's ready for more man bring it we got like on the orders

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bring on the orders bring on the orders a little plug i mean we're ready we got stuff to do

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what we are ready we got we got time for you call us email us text us dm

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um so yeah i mean i mean do we even want to go down the rabbit hole of post completions you know

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like like our job still isn't done after we've delivered the appraisal delivered all the necessary

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documents our job still isn't done because underwriting still has to go through the file

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underwriting could require some more comments or clarification on things the appraiser touched on

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the report so we have to handle that process reaching back out to the appraiser and then

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what if they don't agree with the appraisers final opinion oh that never happens does it uh

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yeah what i mean we've been you know we're in a good position to where we've empowered a lot of

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our a lot of our lender partners uh and brokers to you know place revisions that they're comfortable

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replacing right but there's times where they need what little extra direction or help when it comes

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to maybe a value rebuttal or they want some clarity on some things and that's where we come in

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your the as the escalation and then we have to go to the appraiser and say all right well here's

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they want some more explanation around this piece or they want you to consider these uh these other

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comps because the lender feels that um they're a better representation of the market right

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okay and so then we have to play more middleman more more back and forth between us than lo or

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the or the underwriter um it's yeah that's that part is can be rough sometimes especially with

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the way market values went up so much in the last year do you think we should change like i'm gonna

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change my email signature to appraisal counselor oh yeah well you don't want to open up that can

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or everybody's gonna we're the little man you know we're trying to make everybody feel good

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do whole thing trying to be like okay yes i understand that you're not a fan of what's

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happening here but this needs to be done all right i mean you're not a fan of the way this was done

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but we're working on it like we're the appraisal counselors uh i think that's that's a wrap my

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friend i think we've uh we've completely checked off every single box that we have for today

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uh make sure to go out like us subscribe on our youtube channel ig facebook click it click the

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little icon so we could take it tick tock mike's gonna be tick tocking maybe we'll do a tick tock

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takeover you know i was thinking we should do that i was thinking we we need to get ourselves out

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there the people want to see us the people want to see we should we should jump on these tick tock

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ticker whatever it's called trends man i don't want the tick tock on my phone though man

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well yeah it'll make me agree i'll do it on instagram all right all right we'll do that

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and uh feel free to you guys start seeing more of us on a weekly basis you want to see they want to

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see us feel free to dm us let us know how much you love the show uh we're sliding the dns or if

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you want to uh partner with us there's an idea always drinking something snacking something

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wearing something and so we'll see you next time

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you

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you

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you