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

[ucbruin]

George....
One might say my posts....
Trigger you....

 

[George Hatch]

So go ahead and say it. That still won't be at all responsive to the tangent you raised. Not that anyone cares about that at this point.

 

[Zoe]

One of the best statements I make to homeowners is I may have to call you back. I would have asked these people If they would rather live where they are or somewhere else and explained the situation between this subdivision and other subdivisions. I would have asked what motivated you to live right here and do this huge renovation?

Homeowners can be wonderful sources of market data. Simple questions like is there anything you don't like about your property and it's location. If they have any data they can share with you, they will share it with you most of the time. Not always, but most of the time. I give and take. I give what little I know on the front end and ask questions about their motivations?

I can already tell this is complex assignment based on what little I know about that market and competing areas. I would know that when I got to the subject if I was geo competent.

 

[George Hatch]

Most people shop by price payment.

 

[Zoe]

Most people shop by price payment.

Not necessarily. I bet there are competing properties very close based on what I have seen and heard that would have met their payment threshold. They wanted that property.

 

[Zoe]

From a race standpoint, sometimes certain race people don't like to live in certain areas because they want to live where more residents are their race. Memphis is not that way. Price does impact many areas but I can take you to the richest neighborhoods and they are mixed race. People are different in their motivations on wanting to live by nearby residents their race. Blacks are not that way in Memphis. I see kids of all races play all together on streets in very rich neighborhoods. I can take you to lowest income areas and see mixed races just driving the neighborhood.

 

[Zoe]

What about the little subdivision with mud problems looking at below the deck from the mountaintop? Is that predominantly white or black? What is predominant house price in that area I see from subject deck?

I don't really care. It is not competing with the subject.

 

[Zoe]

Answer one question please. Did Miller do appraisal before renovation or after renovation?

I still don't know.

 

[OSU Beavers]

 

[Fernando]

I like these programs to help Blacks buy their first home.
It's better than the reparations CA and SF want to give to the Blacks (talked about $5 million I heard in SF).