A Black couple ‘erased themselves’ from their home to see if the appraised value would go up. It did - by nearly $500,000

[Zoe]

Yeah, I saw that comment. I strongly doubt the addition was done without permits. Moreover, the public records entry for this property now shows the larger size.

Idk, but it looks like overimprovement to me. Don't trust me.

 

[RCA]

Idk, but it looks like overimprovement to me. Don't trust me.

Nowadays, the government is broken at all levels. So, no, the planning and finance departments are probably sitting at home smoking weed.

 

[KHS445]

If I were the plaintiff or their attorney I would be very careful tossing the “racist” label around. If they are unable to prove that accusation chances are good they will probably be subject to a counter-suit by the appraiser and her company and possibly the AMC. The damage to the appraisers reputation could be significant. The major compliant seems to be that the comps were from the local area and they are claiming it is part of a long term systematic under valuation of homes in the immediate area. Not the appraiser’s doing nor Is it within her power to correct the alleged systematic issue. Every seller for the last 40 years should sue their real estate agent for not getting them Sausalito prices.

 

[RCA]

If I were the plaintiff or their attorney I would be very careful tossing the “racist” label around. If they are unable to prove that accusation chances are good they will probably be subject to a counter-suit by the appraiser and her company and possibly the AMC. The damage to the appraisers reputation could be significant. The major compliant seems to be that the comps were from the local area and they are claiming it is part of a long term systematic under valuation of homes in the immediate area. Not the appraiser’s doing nor Is it within her power to correct the alleged systematic issue. Every seller for the last 40 years should sue their real estate agent for not getting them Sausalito prices.

That's kind of what I figure. From the sound of things - and I haven't really looked into this - I probably wouldn't even appraise a property like this. I tend to avoid properties that are not architecturally clean. I don't appraise shacks - and they do exist in the SF Bay Area. Hard to believe, but true. Shacks, ala bare plywood nailed to the exterior with dry rot. And to be honest, I am biased against certain kinds of structures - but it doesn't have anything to with race - for sure. The ones I've encountered in the past couple of years were owned by whites.

 

[ramrcdk]

Why can't you make any sense ever? LOL

No harm intended...
Ooops
Seems like you took it that way.


Edited: Never Mind.

 

[RCA]

No harm intended...
Ooops
Seems like you took it that way.

Perhaps
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to Win IT : December's Most Posts!

LOL

Zoe is trying very very hard to get her stats higher. But, it's too much BS for me. On goes the ignore button again (I thought it was on ... a long time ago ... but somehow it was turned off.)

 

[George Hatch]

The appraisal situation itself is tough because that neighborhood doesn't yield a lot of sales every year. Anyone doing an appraisal there in early 2020 would have had to leave the neighborhood. The neighborhood to the s/e and on the bay side of the highway is within the Sausalito city limits and their prices over time have obviously been markedly higher that the subject neighborhood in the unincorporated County area. The neighborhood to the n/w is also in unincorporated county area like the subject neighborhood. The pricing there for the older homes is higher, too but not as much higher as the pricing in Sausalito.

 

[George Hatch]

That's kind of what I figure. From the sound of things - and I haven't really looked into this - I probably wouldn't even appraise a property like this. I tend to avoid properties that are not architecturally clean. I don't appraise shacks - and they do exist in the SF Bay Area. Hard to believe, but true. Shacks, ala bare plywood nailed to the exterior with dry rot. And to be honest, I am biased against certain kinds of structures - but it doesn't have anything to with race - for sure. The ones I've encountered in the past couple of years were owned by whites.

Consider this: if an appraiser were to decline an assignment for appraising a starter type home in their area of operations and it happened to involve a borrower from a protected class that could conceivably lead to a claim - supported or not - of a denial of service.

My personal view of properties is that as a professional appraiser I neither like nor dislike any property or any neighborhood. Some appraisal problems are more complicated to solve than others, but aside from that saying that I don't like a certain property type is akin to saying I don't like the number "7". To me, 7 has a value that can be used in a mathematical problem and if I'm doing the math then it makes no difference to me if the number is 7 or 2. The equation is still the equation regardless of the numbers involved. It's important to me to solve that equation but I don't get emotionally invested in whether the result of that equation is a 7 or a 2.

 

[Mejappz]

If I were the plaintiff or their attorney I would be very careful tossing the “racist” label around. If they are unable to prove that accusation chances are good they will probably be subject to a counter-suit by the appraiser and her company and possibly the AMC. The damage to the appraisers reputation could be significant. The major compliant seems to be that the comps were from the local area and they are claiming it is part of a long term systematic under valuation of homes in the immediate area. Not the appraiser’s doing nor Is it within her power to correct the alleged systematic issue. Every seller for the last 40 years should sue their real estate agent for not getting them Sausalito prices.

That is what I have been saying for a while now. These cases, which have no evidence to support their allegations, are ripe for a defamation lawsuit. And this includes not only the party who brings the suit (in this case, the borrower) but also the organizations who have been inciting these phony allegations.

 

[Mejappz]

You can’t make unsupported claims against someone slander their character and expect to get away with it without paying a heavy price.