Allegations of Appraiser racism

[Sadie]

The problem with this article, as pointed out, is that there is insufficient information. There was an pod cast through Appraisal Buzz about the Austin TX couple and their appraisal. It was interesting and it raises so many questions and circular arguments. First of all, if there are insufficient sales in the immediate area, and you have to go to another neighborhood, do you go to the closest or the most similar? Appraiser #1 went to most similar and appraiser #2 went to closest. Which one was right? And why? If I get comps from a competing similar neighborhood, that is farther from my subject than other closer dissimilar neighborhoods, then am I racist or do I know my market? What about the other way around?

If I make location adjustments I use sales data to back up those adjustments. If there is a disparity from one neighborhood to the next are we supposed to ignore it when the predominant race of that neighborhood is different? I say make the adjustment because the price differential exists. I am not adjusted to race, religion or anything else, just sales price. Prices are higher/lower here than in my subject neighborhood and here is the adjustment.

 

[Sadie]

Google Marin City. It is a distinct neighborhood. Just as I would use only island properties for an island appraisal, lake front properties for a lake front appraisal, I would stay within the confines of a unique area simply because the market appeal is similar.

 

[Sadie]

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?

it doesn't seem high. The home was a FSBO and bay area prices are increasing. We don't know what the home would have originally cost if purchased on the open market.

 

[TMG]

Just say NO...to media manufactured racism.

 

[Tim The Enchanter]

There is so much ridiculous BS to say no to these days.
I wish I did not have to see it on this board.
But, here it is. Oh well, Eff it.

 

[djd09]

1482000. is it made of gold?

why they asking the DC PR NAR vice pres of behavior questions?

they should come on here, we can give the appraisals a full audit.

 

[George Hatch]

The most recent sales in this section of this neighborhood haven't exceed $1M. Almost all of them are smaller than the subject; most being the same size as the subject was when they bought it. Take note of the 01/2021 sale for under $1M.

 

[Mejappz]

1482000. is it made of gold?

why they asking the DC PR NAR vice pres of behavior questions?

they should come on here, we can give the appraisals a full audit.

We are building back better, Dj, did you miss the memo?

 

[jay trotta]

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 that the far enough into the low interest environment of 2020 weekly appreciation of sales prices was skyrocketing?

further down the page;
white-woman co-conspirator had their meet-up moment at the house, the value of the home increased by nearly 50%. According to the report, it was then appraised for $1,482,000 — a whopping $493,000 more. If True, why play the stock market or gamble, Real Estate appears to be a sure fired "dip & flip".....sounds like "snake oil" sales men are running the country.

That's a whole lota skyrocketing in any given market; that addition & alteration must be what "The Market Indicators" are in acceptance of and there's ample support ??

Just a thought or two; the games began prior to, the encouragement appears to be lack of accountability (think that over for a while) the media bandwagon is on a roll.

 

[djd09]

We are building back better, Dj, did you miss the memo?

was togetherness just a trend?