Thread: Just how bad is it out there ?

OK guys (and gals) this question has been haunting me for months, just how bad is it out there?

I am in my 3rd year as a home inspector (still wet behind the ears) I average 5 - 7 inspections a week and I have quite the list of realtors that "use" me on a regular basis.

That was the story up until a few months ago. The market in our area has come to a stand still, infact I am quite embarrassed to mention how many inspections I am now doing.

A good number of my "regular" realtors have had to get 2nd jobs just to stay alive. Some have gone inactive, and others have just given up.

In fact two "experienced" inspectors in our area are no longer in the biz.

Since I am being way to honest for my own good right now, I will even confess I have had to become an "employee" just to feed my family.

I don't want to be one of those other guys who are selling thier tools and getting out of the biz, I really love what I do.

Anyone else feel like being honest and commenting? I have always "preached" that a home inspector should not have other jobs.....Mmmmmm crow...how tasty it is Does anyone want that wing??

Clint

For the new Inspector it pretty tough, not good for some long time Inspectors, thats why I worked for fema for 2 months during hurricane season, I made more in 2 months with them than I made all year inspecting.

Part of your problem is you location. Idaho is a nice place but when hard times hit areas like yours it will be down for some time. Sorry for the punch in the face bub... I was in Idaho in 1979-1980 when Carter was in office. the Bunker hill mine was shut down Silver was around $2 an OZ That was a hard winter. no logging that year. all in all very hard times for the Great northwest. that spring I split and went to Ventura Ca... Regan was in office and things took off... We were in the money...

Hold on its going to be a long run this time and you area will be down for some time.

Best

Ron

Originally Posted by Clint White

OK guys (and gals) this question has been haunting me for months, just how bad is it out there?

I am in my 3rd year as a home inspector (still wet behind the ears) I average 5 - 7 inspections a week and I have quite the list of realtors that "use" me on a regular basis.

That was the story up until a few months ago. The market in our area has come to a stand still, infact I am quite embarrassed to mention how many inspections I am now doing.

A good number of my "regular" realtors have had to get 2nd jobs just to stay alive. Some have gone inactive, and others have just given up.

In fact two "experienced" inspectors in our area are no longer in the biz.

Since I am being way to honest for my own good right now, I will even confess I have had to become an "employee" just to feed my family.

I don't want to be one of those other guys who are selling thier tools and getting out of the biz, I really love what I do.

Anyone else feel like being honest and commenting? I have always "preached" that a home inspector should not have other jobs.....Mmmmmm crow...how tasty it is Does anyone want that wing??

Clint

It's bad.... This will be one to tell the grandkids about.

I don't think politics have much to do with it as there is plenty of blame to go around on both sides.

I've been at it almost 10 years and have never seen anything like this. Unfortunately, this is part of the career. I have weeks where I do 12 inspections and weeks when I do 3. And, usually those weeks are one followed by the other.

As the cliche says.... all real estate is local. There are people on here who feel like they won the lottery they're so busy and others who are ready to give it all up and go flip burgers. Until things work themselves out, expect an up an down road... hopefully, some 'ups' are in your future.

HOW BAD IS IT?

Originally Posted by daniel nantell

For the new Inspector it pretty tough, not good for some long time Inspectors, thats why I worked for fema for 2 months during hurricane season, I made more in 2 months with them than I made all year inspecting.

If only we had hurricanes in Idaho... Does constant wind count????

You know why its so windy in Idaho? Because......Utah sucks and Oregon Blows. hahahhahahahah

Clint

we dont have to many hurricanes in Illinois , but they fly you to the hurricanes.

Clint it's bad, but hang on do what ever it takes to keep food on the table. Even if you have to take a job, keep the home inspection business going part time. Other inspectors have and will continue to drop off and get out of the business. When the market recovers or even improves you want to be the one that stuck it out.

Today's inspection got canceled at the last minute as I was driving to the inspection. The client's lender said that his gross income fell short of just $200!!

[quote=Trent Tarter;76380]Clint it's bad, but hang on do what ever it takes to keep food on the table. Even if you have to take a job, keep the home inspection business going part time. Other inspectors have and will continue to drop off and get out of the business. When the market recovers or even improves you want to be the one that stuck it out.

Today's inspection got canceled at the last minute as I was driving to the inspection. The client's lender said that his gross income fell short of just $200!![/quote]


Trent,

Around here a realtor would have added that guy on to their payroll and claimed he made that 200. working for them and got that deal made.

Rick

Rick I was thinking how I could ad him to may payroll and just charge an extra $200 for the inspection. Ha Ha

Think of it as just a paradigm shift. 6 is the new 10.

*taken from The Memphis Daily News.

Property Sales YTD = 2,742

Foreclosure Notices = 2,586

Bankruptcies YTD = 7,158
.

Well its pretty quiet for me up here in hinterland. I am down 50% for 2008, and 2009 is not shaping up any better. Mind you, I don't advertise to the real estate fraternity, nor have I lowered my price from $425.

These times will certainly test us all in one way or another.

Clint,

I appreciate your honesty...I'm experiencing the same thing here in Chicago. The first 8 months of 08 averaged about 31 per month, the last six months since, just 16 a month. The strange thing is that I'm doing more directed marketing, but I'm not seeing any meaningful increase. In fact, in some months, over half of my inspections are past client referrals, so I get very little from realtors, where before the bulk of my business came from realtors.

I do office visits though in a lot of cases, there aren't a lot of realtors in the office. Then you have the pricing issue, that's a whole new thread

Sean

Originally Posted by Sean Bacon

Clint,
......

I do office visits though in a lot of cases, there aren't a lot of realtors in the office.

Sean

Just got the word from our local MLS office....in the last 3 months alone, over 40% of our realtors have let their licenses lapse or just flat out quit....No wonder the offices are empty...

I have all but given up on realtor weekly meetings. There are only 3 offices left that still have them, and hardly anyone shows up to those.

On a happy note, I am getting quite good at building, finishing, and installing high end custom cabinets.....who would have thought that I would be working in the same homes I inspect...Shhhhhh don't tell anyone

Clint

HI's trickle in once in a while, very slow for myself and other HI I talk with. A few guys around here I talk with a still doing good. I think to some degree it depends on the market segment your base is in.
I would be really screwed if I were relying on regular home sales. Luckily I have some commercial accounts. I also specialize in problem housing cases, so some of that always comes in.

Originally Posted by Clint White

Just got the word from our local MLS office....in the last 3 months alone, over 40% of our realtors have let their licenses lapse or just flat out quit....No wonder the offices are empty...

I have all but given up on realtor weekly meetings. There are only 3 offices left that still have them, and hardly anyone shows up to those.

On a happy note, I am getting quite good at building, finishing, and installing high end custom cabinets.....who would have thought that I would be working in the same homes I inspect...Shhhhhh don't tell anyone

Clint

O.K. Your busted Is that not a con-flick of an intrested Inspector?

Now that you are working on the inside looking out when these homes come up for sale you can say to the buyer look at the cabinets.

very nice install.

Best

Ron

Had a lady call me today and said I was the first out of the 7 Home Inspection companies that she had called that answered the phone and that 3 of those 7 phone lines were disconnected.

Guess some are bailing out. Thats not what the bail out plan was supposed to be about now was it?

rick

Originally Posted by Rick Hurst

Had a lady call me today and said I was the first out of the 7 Home Inspection companies that she had called that answered the phone and that 3 of those 7 phone lines were disconnected.

Guess some are bailing out. Thats not what the bail out plan was supposed to be about now was it?

rick

Thats funny Rick. For the past couple of weeks I have been hearing that.

I had one woman that said "great, you answered the phone. When can you do an inspection for me." Didn't even give me a hard time about price.

There's allot of homes out there that are vacant. A real estate agent I know says existing homes are selling because they are deeply discounted at the moment. Here in Las Vegas there are quite a few foreclosure properties still left. Inspectors seem to be doing allot of work while the contractors and engineers who do new construction are really slow.

I heard today that the foreclosure rate was up 37% for the month of Febuary.

Looks like we'll be inspecting these POS's for awhile. Why do they always trash them out when moving out?

rick

Clint . Dont feel so bad This is my fourth year in the business . My first year and 1/2 I was doing 5 to 6 inspections a week and I to had my regular agents using me all the time . I even experimented by lowering my fees just a tadd . recently the Market here in North west Ohio . has really turned for the worst . People are buying homes and over llooking the inspections . Because they feel that buying as is dont need one . and agents are afraid to push the inspection because they really need the sale . This week my phone has been ringing Off the wall people seeking prices . looking for that really cheap inspector. I have my limits to the fee drop and 295.00 is the lowest I go . I too am looking for other types of work .in an area where people are being laid off every day. I will always have My inspection Business And I wont give it up cause I do Know thatwhen things turn around. and the inspectors that stuck in there will be really busy again . Dont give up hang inthere and God Bless Denny L West

February 2009 was the worst yet. Not one inspection. January was pretty good though. Mach has been non productive as of today. Oh well, gives me time to do some of the stuff I have been putting off. Like the new TREC SOPs and Form that we are supposed to be using.

Im still considering buying an IR camera and doing some other stuff. BO's plan calls for energy efficient dwellings. Maybe figure out a way to make some new money.

I'm looking at doing Foeclosure clean outs and property up keep and lock changes . To go along with my normal I also do Seller Inspections have several move in Certified signs out Right now just have to convince sellers . It will het better Im sure .

My HI side has been slow, only a few in the last few weeks.
The good news is that my Infrared business has been getting some traction via referrals etc. I've done three this week and have a nice big roof job tonight.

Been doing a lot of pushing on this Thermal-Diagnostics.com business in the last few weeks and it is paying off.
Just built a new website yesterday called MagicLeakFinders.com using the FREE Microsoft Live tools. Free site, nice "site builder" tools, free domain name registration, and free hosting. Works pretty sweet!

Free promo is great!

Ok
Now that I have some time on my hands I thought I would add my 2 cents.
My area was one of the fastest growing areas in the nation.
The key word is was. I have read all the replies and agree with what has been said. I have been inspecting for 10 years. The slow down for us started about sept last year. I also plan on staying in the inspection buisness but I have to do many other things. here are some of the things I have had a chance to do. I tried fema in La. I do relocation inspections,draw inspections, insurance inspections, repo inspections, bank inspections,termite inspections, mold inspections. Than I install cameras,speakers, and alarm systems. Any other Ideas would be considered. haha hang in there THIS TO Will Change.
Steve DeLong