The Great California Appraiser Census: Are We Doomed or Just Having a Really Small Block Party?
Ever wondered how many folks in California are qualified to tell you if your dream beach bungalow is a goldmine or a money pit? Buckle up, house hunters (and house sellers!), because we're diving into the fascinating, slightly esoteric world of California's appraiser population.
So, how many appraisers are we talking about?
Here's the thing: pinning down an exact number is trickier than finding a decent parking spot in San Francisco. The California Bureau of Real Estate Appraisers (BREA, our guardians of appraised goodness) keeps track of licensed appraisers, but that number includes trainees, out-of-state folks, and some who might be, well, taking a long lunch break from the appraisal game.
The Not-So-Great Appraiser Decline
Now, for some not-so-sunny news. The number of appraisers in California has been steadily shrinking since the housing market roller coaster of 2007. Back then, there were over 20,000 licensed appraisers. As of November 2019 (the most recent data available), that number dipped below 10,000. That's a bigger drop than your mood after accidentally bidding on a fixer-upper with a haunted history.
Is This the Appraisal Apocalypse?
Hold on to your houseplants, millennial homeowners! While the decline is real, experts estimate there are still around 8,000 active appraisers in California. That's plenty to keep the appraisal machine humming, though wait times might be a tad longer than that time you spent staring lovingly at Zillow listings during quarantine.
Why the Appraiser Exodus?
The reasons behind the appraiser shortage are a mix of factors. Some speculate it's a hangover from the housing crisis, with fewer young people entering the profession. Others point to the ever-changing regulations and complexities of the appraisal world. Maybe it's because they all got lured away by a more lucrative career in competitive avocado toast judging (hey, a man's gotta eat).
The Future of California Appraising: Crystal Ball Time
So, what does this mean for you, the average Californian with a house-shaped hole in your heart (or wallet)? The good news is that the appraiser shortage isn't likely to cause a complete breakdown of the housing market. Technology might play a bigger role in appraisals in the future, and who knows, maybe those avocado toast judges will get bored and decide appraising is cooler after all.
In Conclusion: Don't Panic (But Maybe Make Friends with an Appraiser)
The California appraiser population might be on a bit of a downward shuffle, but it's not all doom and gloom. While wait times might increase slightly, there are still plenty of qualified appraisers out there to help you navigate the wonderful world of real estate values. So, relax, keep that dream house on your vision board, and maybe (if you're feeling social) consider befriending an appraiser. Who knows, they might just give you the first dibs on that charming fixer-upper with the slightly enthusiastic ghost (hey, some people are into that kind of thing).
