When I dozed off
- We seemed a lock to elect the first woman president of the USA
- The HVCC was going to revolutionize the appraisal industry
- The Snake Oil Salesman were still selling bottled pig slop as perfume
- The debate was ongoing to let troubled financial institutions fail
- WAMU was a healthy bank
- The DOW was down to 10,000 and there was concern in the air
When I returned
- We have a male President
- We have our third female Secretary of State
- We have Senator Biden as Vice President in charge of something called Stimulus
- The Snake Oil Salesmen have gone underground
- The US auto industry has become a ward of the state
- The financial industry has become a ward of the state
- WAMU disappeared, Wachovia disappeared
- HVCC has been so watered down that the change will be hardly noticed
- The DOW is nearing 6,000
- The US and the world are in a recession
Yep, the last year has been eventful, and I missed it all. I know how Mr. Van Winkle must have felt.
Appraisal Scoop has become a must read in the Real Estate Blogosphere, regularly in the top 15 of 500 sites, often in the top 10. That’s impressive, but not a surprise. Appraisal Scoop was created by the best appraiser/marketer I know. He had a history of creating environments for others to thrive in before. He’s done it again in Appraisal Scoop. For my Heartless Editor to allow me to participate again is truly a stroke of luck!
Our business, Acorn Appraisal Associates in Houston Texas has endured a rough year; two rough years in fact. No doubt yours has also. Profits have declined. Net Income was still positive, but not nearly the required, the targeted, return. Revenues have basically been flat.
September brought Hurricane Ike, the first to directly hit Houston in decades. Our building's power was knocked out and was one of the last to be brought on line; three weeks it took! We’ve been able to maintain our staff and minimize the income loss to them personally, but little profit for the company remained.
That happens in business. We’ve adapted. We’ve changed. We’ll change some more. I’ll try to address those changes, those experiences in the time to come.
That’s what the Heartless Editor charged me to do when he invited me here several years ago. I’ll try to confine myself to what I know, which is my business. Not yours, but mine. For each of us business owners are experts in our own business, and no one else’s.
I’m here to share my business experiences, the successes, the not so successes. One appraisal business owner's view of the market, the changes, and how I view their affects on my business. Take from them anything that might help you in yours.
I’m glad to be back.
AUTHOR: Ken Verrett: The author is the owner of Acorn Appraisal Associates, a 24 year old firm offering a wide range of quality appraisal services to the Financial and Business Communities.