We are starting to see a shortage of Real Estate Appraiser’s in certain parts of the country. In those areas, appraisal costs are skyrocketing and time frame’s are getting longer and longer. Even in parts of Colorado such as the Denver area and Garfield County. Although those are not as bad as places like Billings, Montana where appraisal’s cost $1000 and takes 6 weeks to complete.
There are new requirements for new appraiser’s that are causing unintended consequences such as having a 4 year college degree and working under a licensed appraiser for 2000 hours. Let’s hope our legislators start paying attention to this before it gets totally out of hand.