Racial Bias Claims Without Proof or Logic

[Meandering]

There is proof.

The proof is in, what they told you to do.

The Sales Comparison Approach, using neighborhood sales. Not your fault neighborhoods aren't diverse.

And they have genuine scientists that study the matter.

This disparity can’t be fully explained by past racially discriminatory practices in the real estate industry, such as redlining, conclude University of Pittsburgh sociologist Junia Howell and University of New Mexico sociologist Elizabeth Korver-Glenn. Instead, standard modern appraisal practices used since the passage of the Community Reinvestment Act of 1977 continue to perpetuate and exacerbate differences in how homes are valued in neighborhoods of color compared to white neighborhoods.

A Neighborhood’s Race Affects Home Values More Now Than in 1980

See?

And you guys thought that using all the sales in the census tract by a computer, was mixing values and not holding true to individual neighborhood values.

Pity that the focus is not on the Income Approach, and why landlords charge different rents for different neighborhoods.

.

 

[djd09]

now, thinking of all the comp photo threads, i would personally take off any signs on my vehicle identifying myself as an appraiser. they just put you in the cross hairs.

 

[ucbruin]

"The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in the ether for nearly two years. The November 2018 Brookings Institute report blames appraisers without proof or logic for lower property values in minority communities and then the June 2019 Congressional Hearing amplified the Brookings misrepresentation of the appraisal industry."

Appraisal industry....
Not profession....

"Appraisers are already bound by strict ethics and anti-bias requirements in the Uniform Standards of Professional Appraisal Practice (USPAP), and lenders are also bound to collateral valuation guidelines (executed as contracts) that translate to appraisers in scope of service requests and through appraisal review processes. These include prohibitions against:"

Well then....
Of course it's impossible there can be bias....

 

[Tom D]

new thought of the day to rule your profession. you are not judged by the content of your appraisal, but by the color.
go and look at what is being taught in grades 1- 12 right now. worst in the universities. and employees are going to the i am too privileged class, to admit my privileged color in front of everyone. why wouldn't it hit our profession. it's hidden systemic racism that everyone can obviously see. not my thoughts, but what is the current rage right now.

 

[The Bob]

I think there is an element of truth regarding "legacy" racism. Examples would be things like trash dumbs, heavy industry, basically anything that would have a negative impact on real estate, were likely to be located in or near minority neighborhoods. I was raised in a small town in the VA and you could clearly see this. The neighborhoods with minorities were located on the "wrong side of the tracks" near heavy, smelly industry. If you've ever lived near a pulp mill you will know what I'm describing. In this same area was the land fill.
But then you have the flip side, commonly known as "gentrification", where the minorities are driven out by the exact same thing they seem to be advocating for...higher home values. I'll leave that for another debate.
I've been doing this over 30 years in central VA and I have never seen or heard of a single case where an appraiser has been accused of bias.

 

[ucbruin]

Today, I find it inconceivable that any open minded person can't admit that racist and racism exists....
And I'm not just talking in the good ole bible thumping USofA....

 

[Tim The Enchanter]

Today, I find it inconceivable that any open minded person can't admit that racist and racism exists....
And I'm not just talking in the good ole bible thumping USofA....

It lives on. But there are people from every country on the planet here, more or less.
I think that is a good thing and a strength for the area.

 

[Amy Perkins]

Interesting;
Real estate appraisers play an undisputedly important role in real estate development and financing central to taxpayer protection, safety and soundness of financial institutions and the protection of consumers.

Great support for appraisers to be 100% Independent of any outside influences ( reviews, unless appropriately supported)

Its not what they are after because we are mostly independent. Now what's the motive?

 

[jay trotta]

Its not what they are after because we are mostly independent. Now what's the motive?

Pre 2007 we were 100% Independent; 1 page Engagement Letters (Unbiased-not client driven) - now that they 20 pages deep...hmm

 

[glenn walker]

Today, I find it inconceivable that any open minded person can't admit that racist and racism exists....
And I'm not just talking in the good ole bible thumping USofA....

Of course racism exists the problem is its universal even worldwide and always has been. Being located in a melting pot we have whites, blacks, Latinos, and another hundred different ethnicity, in SO CA. The problem is the current mind set is only whites are prejudiced or racists when in reality every ethnic group has some form of racial bias against another group or groups. So "systemic racism " is apparently in the DNA of humans BUT one thing I have found is that when it comes to business, collecting green is all that matters and an-appraiser or Realtor will NOT bring his/her bias into the equation.