Appraisal Showdown In The Lone Star State
Clash of perspectives on appraisal bias sparks debate
A battle is shaping up between appraisers and academics over the issue of appraisal bias. Is it real or not?
Researchers are certain that appraisal bias is still prevalent in the Lone Star state, specifically in Texan metros, and allegedly exacerbated by the COVID-19 pandemic. With the rise of political instability and some talking heads referring to the pandemic as a
“Chinese virus,” research suggests that A
sians in Texas, in particular, are seeing the harsh results of appraisal bias.
But one Texan appraiser is poking holes in researchers’ claims. Kicking those claims to the curb is Steve Kahane, owner of Greater Houston Area Appraisals and president of the Association of Texas Appraisers, which claims a membership of over 500 appraisers hailing from states including Texas, Florida, Idaho, Louisiana, and Mississippi. The heart of the association lies in South Central Texas, home to its largest constituency.
Kahane firmly disagrees with the decree that Texas is under an appraisal bias siege. “From my standpoint as an appraiser, the data isn’t correct,” Kahane said. “As far as bias in general, many of the studies have been done by non-appraisers, which leaves erroneous questions and conclusions, which then equals bad data.”
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