Appraisal Bias

[J Grant]

I have agreed in the past but when you have A President and VP and the Administration given a mandate and a goal to turn the industry upside down and not do to over valuations or poor work but because there 97% white thats a major battle. No President in History has ever gone out and singled such a small group of people and the Appraisal organizations no they were dead so their all on board too.

Your revisionism geared to paint Biden in a bad light is repulsive.

Many presidents were in office when other professions were revamped wrt a case or issue with discrimination whether racial or sexual or other. The RE sales profession faced it under a different president and so did mortgage lending under a different president

Both of those professions along with others survived and they adpated some new policy or proceedures and contiinued. You and a few others here want to make this poltiical and into a battle, which will not serve appraisers well.

You do nto really care about the outcome for appraisers, because if you did you would not be riling up people about something they need to recognize and move on from. You just want to cause hvoc and get people to blame Biden. Biden has a lot of other more important things to focus on and has already moved on . If appraisers handleed this professonally the way other indutries have they could put it behind them

You offer no positive steps or ideas, just a real cynical take on things and a view to make people even more upset and blame a president who happened to be in office when this happened.

 

[glenn walker]

It can be viable. How? easy, way back when I started most local appraisers were also RE Agents. Many were associated with a Brokerage. Many were Leasing agents and sales agents in there small one person office. Some were RE Investors. house flippers etc.
RE Investors

I was a Broker in 1983 so I knew people, but finally gave up on finding a real mentor and just got new business cards that said Broker & Appraiser and figured most out on my own. But Appraisers were not helpful in general in my area and it was almost impossible to break into the good old boys club back then. Even AI and ASA didnt want any new residential blood.

 

[glenn walker]

Your revisionism geared to paint Biden in a bad light is repulsive.

Many presidents were in office when other professions were revamped wrt a case or issue with discrimination whether racial or sexual or other. The RE sales profession faced it under a different president and so did mortgage lending under a different president

Both of those professions along with others survived and they adpated some new policy or proceedures and contiinued. You and a few others here want to make this poltiical and into a battle, which will not serve appraisers well.

You do nto really care about the outcome for appraisers, because if you did you would not be riling up people about something they need to recognize and move on from. You just want to cause hvoc and get people to blame Biden. Biden has a lot of other more important things to focus on and has already moved on . If appraisers handleed this professonally the way other indutries have they could put it behind them

You offer no positive steps or ideas, just a real cynical take on things and a view to make people even more upset and blame a president who happened to be in office when this happened.

I did not paint Biden in a bad light. He and VP Harris have publicly stated their desire to change the appraisal profession. They implemented the HUD "Task " Force to do just that.
Now how did I paint the picture ? Just because they are attacking your profession I just delivered the message which apparently you have not been following in the Main Stream
News Media.

There is no way to not make it politcal when the President and VP of the United States had made it one of their first 100 days in office goals and agendas. The fact is your battle is with them not me- I just make you face the facts. Your love for your Party has blinded you to be able to see and think clearly.

 

[glenn walker]

June 3 2023 White House Press Room Kamala Harris announces rule to tackle racial bias in home valuations​

Black and Latino families' homes are more likely to be undervalued than those of other homeowners, the vice president said.

Today, I’m proud to announce we are developing a rule that will require that financial institutions ensure that their appraisal algorithms are not biased, for example, that they do not produce lower valuations for homes owned by people of color,” Harris said on a call with reporters. “We are also releasing the guidance to make it easier for consumers to appeal what they suspect to be unbiased valuation

Millions rely on the equity in their homes to put their children through college, to fund a startup, to retire with dignity, to create inter generational prosperity and wealth,” Harris said. “We also know for generations many people of color have been prevented from taking full advantage of the benefits of home ownership.”

Harris said only about 5% of home appraisers are people of color, a share the administration hopes to grow through training opportunities for groups underrepresented in the industry. She said the goal is “to make sure that people who conduct home appraisals better reflect the communities they serve.

 

[glenn walker]

VP Harris more on AVM'S Being Racist.

Studies have found that ( White-owned homes ) are more likely than homes owned by Black people to be appraised at values that ( exceed algorithmic predictions ) President Joe Biden’s domestic policy adviser, Neera Tanden, said on the call. The administration will also make home valuation data for more than 600,000 properties public, growing a

 

[glenn walker]

Your revisionism geared to paint Biden in a bad light is repulsive.

Many presidents were in office when other professions were revamped wrt a case or issue with discrimination whether racial or sexual or other. The RE sales profession faced it under a different president and so did mortgage lending under a different president

Both of those professions along with others survived and they adpated some new policy or proceedures and contiinued. You and a few others here want to make this poltiical and into a battle, which will not serve appraisers well.

You do nto really care about the outcome for appraisers, because if you did you would not be riling up people about something they need to recognize and move on from. You just want to cause hvoc and get people to blame Biden. Biden has a lot of other more important things to focus on and has already moved on . If appraisers handleed this professonally the way other indutries have they could put it behind them

You offer no positive steps or ideas, just a real cynical take on things and a view to make people even more upset and blame a president who happened to be in office when this happened.

Geez he just happened to be in Office - Please it was on his to do list on the first 100 days in office and he said that with his own mouth when he and VP Harris implemented it. You really can live in a delusional pretend world.

 

[J Grant]

I did not paint Biden in a bad light. He and VP Harris have publicly stated their desire to change the appraisal profession. They implemented the HUD "Task " Force to do just that.
Now how did I paint the picture ? Just because they are attacking your profession I just delivered the message which apparently you have not been following in the Main Stream
News Media.

There is no way to not make it politcal when the President and VP of the United States had made it one of their first 100 days in office goals and agendas. The fact is your battle is with them not me- I just make you face the facts. Your love for your Party has blinded you to be able to see and think clearly.

Pave had a few recomendations wert PAREA and increasing diversity. I hardly see that as Biden meddling to change the profession. This was in part political grandstanding and then like any politician he moves on. Nearly every profession faced this at some point and moved on, they did not get into a political battle about it.

PAVE has a few silly ideas about equity wrt values but it won't go anywhere. And if it does, they'll need appraisers to straigthen out the mess latger if properties become over valued.

 

[J Grant]

Geez he just happened to be in Office - Please it was on his to do list on the first 100 days in office and he said that with his own mouth when he and VP Harris implemented it. You really can live in a delusional pretend world.

WT, many appraisers made more $ in the busy first 2 years under Biden than in any other time their entire career.
Not everybody will fall for your propaganda

 

[Terrel L. Shields]

It can be viable. How? easy, way back when I started most local appraisers were also RE Agents. Some were RE Investors. house flippers etc.
RE Investors

Here the banks also appraised their own loan collateral. Sometimes they did it themselves or another loan officer might go with them and agree/discuss the results.

And also Realtors were not especially "independent" right? Wasn't that the promise of separate licensing for appraisers? You'd not be tied to the Realtor selling the property and you'd not be tied to the banker who financed it.

it was on his to do list on the first 100 days

Yep. The imaginary "racist" - DT - had to be proven to be racist to make his political claim not sound like the lie it was.

many appraisers made more $ in the busy first 2 years under Biden than in any other time their entire career.

And that artificial FOMO driven 'boom' wasn't due to anything but a contrived response to the hyper-inflationary path the Prez put us on. Period. The printing presses ran overtime and people panic bought. Same stupid outcome as the Great Recession (and that one is on Bush for letting the FED keep rates too low, too.) Now the economy is clawing all that surplus you made back.

 

[glenn walker]

WT, many appraisers made more $ in the busy first 2 years under Biden than in any other time their entire career.
Not everybody will fall for your propaganda

That was not Biden it was 3% Rates LMAO