Working class neighborhood

[Carnivore]

This entire tangent with all the hard feelings occurred because instead of talking about physical condition and development trends we veered off into trying the read the tea leaves of human behavior and intent. This little dramafest is a perfect example of why it's unprofessional to be talking about the people when the assignment at hand is to value the property.


I do not care in an appraisal assignment "why" buyers choose to remodel or redevelop or to leave the property in the more original state. Just the same as it doesn't matter in an appraisal assignment "why" a market is trending up in value or down in value.

It doesn't make any difference to the conditions we're seeing what the reasons and motivations are for those conditions. Speculating on those reasons might be entertaining as a hobby but in the end the "as is" of the trend is what it is. Fortunately my job is about reporting "what it is", not "why it is". It's hard to be wrong about the "what" if you just stick to the data. Delving into the "why" is a different story.

Yes in spite of my inner feelings, I am able and Do remain impartial for those assignments. That seems to some as something impossible...Its not...because I had nothing to do with what occurred. Where it may become problematic is explaining not only the trend, but what is causing it. Some thought is all you need because in many if not most cases usually it did not originate there, it was just a naturally occurring progression. Center City Charlotte(I-485 Inner Loop) is where it began and that economic activity spread outward. There are several residential area still inside this loop. They will be Taken, no matter what those $500,000-$1,000,000 Income households Scream and Protest. When that happens i can not predict...but it will happen. Where is my proof. Anyone here take a look at very old NY City plats. Another reason the high income people will lose is because of the Kello Decision. But above you said "Why it is" Corrct me if I am wrong. I think we will be reporting the trend and why the trend is occurring. What we won't be doing is explaining who got displaced.

 

[CANative]

Why don't we just all call it Manifest Destiny and be done with it?

 

[George Hatch]

I never try to explain "why" most of these different types of trends are occurring. If vacancy rates and demand are low, and redevelopment or remodeling trends are up or there was a closure of an auto-manufacturing plant in that little company town then that's all the deeper I need to go in order to form a supportable value conclusion. I don't need to comment on the point that the Buddhists are drawn to this area of Hacienda Heights because of its proximity to the big Temple there. It's irrelevant why they are doing what they're doing.

Moreover, it provides an unforced error to the borrower or some activist type to blame the appraiser - on the plausibly deniable basis - for the lender's decision even if that particular reference in the report had nothing to do with the lender's decision.

I don't knowingly give away the free shot. If someone is going to hang me for something I said in an appraisal report then I want to make them work for it. If I can make my case without talking about people or their personal characteristics then that's nothing but good for me. And them. But mostly for me and my users.

 

[Dublin ohio]

Your focus is on value while others focus on people, the human beings being affected

Speaking for myself. When I am appraising a property. Of course my focus is on value. Not feelings. But at the same time I can "feel" for those that might get displaced.

 

[George Hatch]

I certify to my professional apathy for the outcomes people want in every appraisal report I sign.


As far as my work goes I consider "low empathy" to be a feature, not a bug.

 

[DTB]

Perhaps you would better serve the reader of your report by specifying the median household income in the census tract in which you are appraising and compare it to the larger metro or county household income.

Unless you are doing this in each and every report, your efforts may sound prettier but has the same impact.

 

[Tawfik Ahdab]

Personal/household income-related matters are only pertinent insofar as they are relevant to the appraisal problem at hand. If you are profiling buyers by type in connection with the segmentation of demand for a particular type of property, it’s an entirely valid thing. But it’s entirely another to infect the reader with the disease of your own biases, whether intentionally or not.

 

[Pittsburgh Pete]

Speaking for myself. When I am appraising a property. Of course my focus is on value. Not feelings. But at the same time I can "feel" for those that might get displaced.

My comment had absolutely nothing to do with the job/function of appraising a property. It was just a comment on the reality of the process of neighborhood transformations--and would have nothing to do with the valuation. Unbiased and all that..........................

 

[Tim The Enchanter]

Neighborhood contains several large public housing projects.
This is a fact (in Watts), and I will stick to the facts, Sgt Joe.

We do not need tripadvisor or chamber of commerce type info in there.
Nor any demographic info, it is not relevant.

I might note fact, the Jordan Downs housing project is being replaced with newer stuff.
Will not get into the thing that some people don't like it's style.

It's a beautiful day in the neighborhood.
Not the ghetto or 'hood.

 

[Renee Healion]

I have seen stupid, judgmental posts on this forum for over 15 years and your post is close to the most ignorant in that time period. It is a appraisal term; look it up in the texts that you most likely do NOT have.

Classy. I post under my own name while you hide under a handle.