Allegations of Appraiser racism

[Tawfik Ahdab]

Home appraisal for Black couple skyrockets after white friend pretends to be homeowner

Black Americans continue to face discrimination when it comes to building wealth through homeownership. Paul Austin and his wife, Tenisha Tate Austin, of Marin City purchased their first home off-market from another Black family in 2016. “I read the appraisal,” Tate Austin told ABC7.

www.yahoo.com

Of course, in a short article like that, the case is presented as cut-and/dried.

We think there must be more to the story.

 

[J Grant]

AGAIN with this tired retread? WHY?? It's been discussed in multiple threads for months

Most of these posts add zero to what has already been discussed and given the history of some who start threads on it, I doubt they have a genuine intention of exploring the subject

 

[Dublin ohio]

So it doubled in price in less than 4 years without the renovations. It must be a "distinct" area.

 

[Dublin ohio]

I doubt they have a genuine intention of exploring the subject,

What's to explore. A hand full of one offs that we will never get the complete story about. We will never hear both sides

 

[Tawfik Ahdab]

Thanks Dublin that’s what I was getting at. J Grant is having a conniption fit about I don’t know what.

 

[J Grant]

What's to explore. A hand full of one offs that we will never get the complete story about. We will never hear both sides

Since, as you said, we will never know both sides nor see both appraisals...indeed if there is nothing to explore, why keep posting threads about it?

I don't see any honest motivation behind it.

 

[Dublin ohio]

Never hurts to know. Does every thread have to have a "motivation" behind it. How about just providing information that individuals can or cannot choose to discuss, debate or whatever.

 

[Tawfik Ahdab]

Yeah, what Dublin said.

Jeez.

And what nefarious motive would J impute me to have for providing access to the article?

 

[B1trying]

This narrative will be the undoing of the appraisal profession. Time delays and racist old white men running around ruining minorities life will be the rational to utilize AVM's. Follow the science. We don't need the racist appraisers we have numbers.

 

[OSU Beavers]

The original sales price of the subject was $550,000 on 12/18/2016.

https://www.zillow.com/homedetails/20-Pacheco-St-Sausalito-CA-94965/19266120_zpid/

The appraisal prior to adding a basement under the house, decks around the exterior and interior renovations was $889,000 in 2019 according to the borrower. Does that increase seem high over the original sales price to anyone else?

Did the old white woman's post addition appraisal occur during or just after the first "Two weeks" to stop the spread when the stock market was tumbling and people were cancelling their listings and pending contracts for fear of COVID? Was the second appraisal far enough into the low interest environment of 2020 that the weekly appreciation of sales prices was skyrocketing?