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

[George Hatch]

Depends on where it is. I just appraised a small residential subdivision project in central Riverside County a month back and finished lots were selling in the $125k range for a 10,000-15,000 sf lot. I had one sale of 6 lots that were *listed* for $110k/lot.

I've got a land appraisal assignment in the city of Los Angeles (East L.A. area) this next week where 7000 sf subdivision lots with a moderate upslope from street are selling at $125k. I appraised a 2-lot combo (ofc + comm lot) out in Lancaster where the 7,000sf subdivision lots were selling for $75k. 4500sf lots with downslopes selling in Lemon Grove (San Diego County) for $90k But then again I've also got a land deal I'm working on in Huntington Beach - couple miles from the beach where SFR lots are selling at $700k and 2-unit lots are selling for $350k per unit. It just depends.

I get a lot of assignments that involve a land value in there somewhere. Some are for individual parcels, some involve excess land values, some involve multi-parcel assemblages and proposed subdivisions.

I was poking around in the sales history for Sausalito and saw a heavily sloped 6000 lot that sold for $680k back during the same time frame when the (Tate-)Austins bought their home, so that lot sold for a lot more than their fully developed 11,000sf lot + home cost. Not only that, but it would cost at least $75k to cut a pad and add retaining walls to stabilize the slope for that lot.

 

[Surf Cat]

was poking around in the sales history for Sausalito and saw a heavily sloped 6000 lot that sold for $680k back during the same time frame when the (Tate-)Austins bought their home, so that lot sold for a lot more than their fully developed 11,000sf lot + home cost. Not only that, but it would cost at least $75k to cut a pad and add retaining walls to stabilize the slope for that lot.

That lot's in Marin City? Or on the other side of the Fwy.? Does that wooded sloped lot have a superior view to that of the Austin's place? The 2 dwellings flanking the lot appear to be newer construction....

 

[RCA]

That lot's in Marin City? Or on the other side of the Fwy.? Does that wooded sloped lot have a superior view to that of the Austin's place? The 2 dwellings flanking the lot appear to be newer construction....

Just above 20 Pacheco is an 8.8 acre parcel zoned Mult-Residential. Sold 6/20/2018 for 2.1M. It would appear Marin City is destined for Multi-Residential (All affordable housing?)

 

[RCA]

That lot's in Marin City? Or on the other side of the Fwy.? Does that wooded sloped lot have a superior view to that of the Austin's place? The 2 dwellings flanking the lot appear to be newer construction....

No that is Sausalito proper. That is the standard price for a 5,000-6,000sf lot in that area for 2021-2022.

 

[Cotton Cornell]

Never forget based on liberal/democrap logic all the following are true. All illegal boarder jumpers are not criminals. The 2020 election was free and fair.. All drug dealers are not bad people. All murders deserve a 2nd chance. Child molesters are misunderstood. One appraiser gets accused of being racist therefore every appraiser is 100% racist. The Low IQ Brookings institute concurs that all appraisers (even if your a black appraiser) are racist, therefore we need to eliminate appraisers and rely on highly manipulative/fraudulent AVMs and unlicensed data collectors! Stolen elections have consequences!

 

[Fernando]

Never forget based on liberal/democrap logic all the following are true. All illegal boarder jumpers are not criminals. The 2020 election was free and fair.. All drug dealers are not bad people. All murders deserve a 2nd chance. Child molesters are misunderstood. One appraiser gets accused of being racist therefore every appraiser is 100% racist. The Low IQ Brookings institute concurs that all appraisers (even if your a black appraiser) are racist, therefore we need to eliminate appraisers and rely on highly manipulative/fraudulent AVMs and unlicensed data collectors! Stolen elections have consequences!

But Miller agreed to the settlement including measures to be nondiscriminatory. Narrative is set.
Where were other appraisers and appraisal groups when Miller was accused of being racist?

 

[Dublin ohio]

Where were other appraisers and appraisal groups when Miller was accused of being racist?

What could they have done? What impact could they have possibly had?

 

[Fernando]

What could they have done? What impact could they have possibly had?

She needed money to pay her attorneys to fight the lawsuit to the supreme court.
Our appraisal profession was at stake in the outcome.
A settlement helped Austin's narrative.

 

[ucbruin]

Miller made her bed....

 

[Sadie]

Miller made her bed....

Hmm, I don't thnk she did. She probably ran out of funds znd energy along with having huge pressure professionally and personal tragedy. At a certain point probably said F this. She has no responsibility to those of us (me included) to rigorously defend the profession. She did her best and probably didn't do too bad settlement-wise. The longer the lawsuit remained unsettled, it gave the plaintiffs a microphone. Now they can say we won, and to punish that nasty appraiser, made her watch a movie. Miller can start to pick up the pieces of her life.