Black couple settle lawsuit as home value at $500k below real price

[ucbruin]

So are you inferring that the appraiser was a racist and that a fair housing class would turn them into a non racist?

I'm not inferring....
I've said and I'm saying that the banks that I worked for impressed upon the staff not to use certain words and/or phrases that could be misinterpreted....

In Miller's case, was it "distinct marketability" or something similar....
And maybe she included other questionable words/phrases....
I've said several times during the life of the other Miller case thread that I believe she was more sloppy with her words rather than racist....

I'm giving her the benefit of the doubt....

 

[Fernando]

When you live in rich White county of Marin, they know where the minorities live. The income inequality is very wide if not the widest in the nation.
We will not know but a priviledged White appraiser going into the Austin's house could of set off a bias vibe. And the two different appraised value confirmed this.

 

[Terrel L. Shields]

How do you know an area is "lower income" when you appraise properties therein?

Fern drives around the neighborhood and if someone stops him and ask what kind of car his Tesla is, then its a poor neighborhood.

 

[huntercharlie]

Peter Christensen discusses this case a bit in his "6 Recent Appraiser Lawsuits and the Lessons from Each."

Said he was able to review both appraisals and was not impressed by either one (paraphrasing here).... but sounds like a difficult area to value.

 

[Elliott]

Y'know, the GSE's want us to describe neighborhoods by recent features that distinguish them (like new community swimming pools). So the number of new EV charging stations might be a metric to 'adjust neighborhoods' that could be acceptable.

 

[George Hatch]

Peter Christensen discusses this case a bit in his "6 Recent Appraiser Lawsuits and the Lessons from Each."

Said he was able to review both appraisals and was not impressed by either one (paraphrasing here).... but sounds like a difficult area to value.

That doesn't surprise me. This is the type of appraisal problem where you'd have to ignore the fee issue and go all out with your analyses and report writing. You'd have to really make your case in your report.

I just spent 2.5 days on a 2/1 SFR on a 3300sf lot that's located in a suburban community with typical densities. Atypical property with an atypical zoning and which is located on a street with only about 15 others of comparable attributes. I researched, analyzed and listed every sale in that little neighborhood going back 20 years as a means of demonstrating the pricing trends. There weren't very many, and none that were current.
.
I made my case as best I could. If someone wants to disagree with my value conclusion then they have the freedom to do that, but what they can't accuse me of is taking any shortcuts or mindlessly slopping out a report. And yes, I did poorly with the fee relative to the amount of time I spend on it.

 

[shrubberyvaluation]

Peter Christensen discusses this case a bit in his "6 Recent Appraiser Lawsuits and the Lessons from Each."

Said he was able to review both appraisals and was not impressed by either one (paraphrasing here).... but sounds like a difficult area to value.

Anything specific about what he was not impressed about? Like major things that had an impact on the valuation? I'm curious how he got a hold of them. Did the defendents come to him? How else would he get them?

 

[Michael S]

Based on this article from NPR, it sounds as if the appraiser lost the case.

She settled for an undisclosed amount and stated she agrees "not to discriminate in the future". That's admitting that she discriminated. She also has to watch a documentary starring the Austin's.

https://www.npr.org/2023/03/09/1162103286/home-appraisal-racial-bias-black-homeowners-lawsuit

I saw this article and I was very tempted to contact the reporter with a link to this thread (her twitter profile has an email address for tips). Especially the list of every sale in the city with the only sale over $1.5 million for a home that's more than 50% larger. https://appraisersforum.com/forums/...-below-real-price.234898/page-11#post-3264728

However, the chance of a "journalist" changing a story like this to acknowledge that there's more at play than evil racist appraisers is about as close to zero as you can get. There is a narrative and the narrative must be upheld at all costs. Nuance? Truth? Other opinions? Nope, if they don't fit the approved narrative they don't exist.

 

[Fernando]

Peter Christensen discusses this case a bit in his "6 Recent Appraiser Lawsuits and the Lessons from Each."

Said he was able to review both appraisals and was not impressed by either one (paraphrasing here).... but sounds like a difficult area to value.

I suspected the two appraisals not that good because of the wide disparity in appraised value. The value should be closer in range.
If I don't feel comfortable with an assignment, I don't take it. Other appraisers should too.

 

[Surf Cat]

The firm representing Miller is a very good firm. Without knowing the details, you rushed to judgement.

Whatever you say....I can only go by articles that are posted. I, like many would like to see both reports even though I'm not geographically competent there. IMO the firm representing Miller under estimated the strength of the narrative....and folded like a tent.