• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

CRIME vs Fair Credit Lending

Status
Not open for further replies.

dwayne_sheridan

Freshman Member
Joined
Jan 10, 2005
Professional Status
Certified Residential Appraiser
State
California
In reviewing many BPO's, several realtors are mentioning "crime" "gang activity" & "graffiti" in the negative comments section.

Maybe I am wrong; I thought HUD or some Governmental Authority would freak out with such verbage based on redlining. I recall my real estate licensing tests (years ago) asking a question about this issue.

Tried HUD, they're worthless. The Govt is efficient at doing nothing!

Any thoughts or links??
 

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
In reviewing many BPO's, several realtors are mentioning "crime" "gang activity" & "graffiti" in the negative comments section.

Maybe I am wrong; I thought HUD or some Governmental Authority would freak out with such verbage based on redlining. I recall my real estate licensing tests (years ago) asking a question about this issue.

Tried HUD, they're worthless. The Govt is efficient at doing nothing!

Any thoughts or links??


Good luck finding a specific citation, I believe you have unearthed one of the Holy Grails of urban myth.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
Why would discussing the effects of a high crime rate and active and obvious gang activity and their affects on marketability and indicated market value be prohibited? I've never heard such a thing. That would be like saying "We don't discuss chemical plants in the area". I think some Appraiser, Realtor, MB or lender who didn't want you to kill the deal told you that......

If one is afraid to go into an area to appraise a home due to criminal activity then how does one ignore those effects on value when someone is considering spending money to purchase a home there?!?!?

As long as the appropriate statistics are referenced I would think it would be perfectly acceptable.
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Here is the HUD prohibited word/phrase list, direct from my MLS. Get ready to roll your eyes and be annoyed:
 

Attachments

  • HUD Banned Word List.pdf
    69.4 KB · Views: 55

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
Here is the HUD prohibited word/phrase list, direct from my MLS. Get ready to roll your eyes and be annoyed:

They must not have crime, gang and graffiti down there or certainly they would have been included. :shrug:
 

Head Surfer

Administrator
Staff member
Founder
Moderator
Joined
Jan 4, 2002
Professional Status
Retired Appraiser
State
Florida
Here is the HUD prohibited word/phrase list, direct from my MLS. Get ready to roll your eyes and be annoyed:

Wow, I thought there would really be some bad words on that list! Is this for real?

restrictions?
retirees?
secure?
child?
first-time home buyers?
married?
mature?
quiet neighborhood?
physically fit?

If those words are prohibited in MLS listings I can only say I am glad I no longer sell real estate or appraise it if that's what it's come to!
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Here is the HUD prohibited word/phrase list, direct from my MLS. Get ready to roll your eyes and be annoyed:

That’s because half the people on this list are also on the “protected species” list. :rof::rof:
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
c w d;a home there?!?!? As long as the appropriate statistics are referenced I would think it would be perfectly acceptable.[/QUOTE said:
THAT is what would make it acceptable. Willy Nilly statements about "high crime area" are forbidden as it tends to further denigrate a neighborhood. But, if you include verified facts, it is OK.

However, in appraising a house that IS BEING FORECLOSED ON and the appraisal is for that foreclosing lender, it should not be an issue. ANY negative, or positive, for that matter, statement should be supported by facts, not opinion. As appraisers, our OPINIONS are limited to the final value.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Here is the HUD prohibited word/phrase list, direct from my MLS. Get ready to roll your eyes and be annoyed:

That just blows my appraisals out of the water.:rof::rof::rof:
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks