TAF paid over 500K to the Law Firm trying to destroy Shane Lanham

[Surf Cat]

It could have all the support and he would still be being sued for not using the 2% "industry standard" for busy roads adjustment.

If Shane would've had an analysis on how he derived that adjustment....it wouldn't be an issue...

 

[Mejappz]

If Shane would've had an analysis on how he derived that adjustment....it wouldn't be an issue...

But, but the user was satisfied with the report. Adjustments are as important as drawing interior walls on a sketch.

 

[shrubberyvaluation]

What will it take to bridge Maryland's home appraisal gap?​

Homeownership is often a sign of financial security and success. A home’s growing value is often how many families build wealth they can pass along to their children.

But a significant gap exists between the valuation of homes owned by Black homeowners and white homeowners, even for comparable properties. Government and commercial housing industry assessments and appraisals often misevaluate the value of properties and homes owned by Black residents.

According to a December 2022 report to the Maryland Department of Housing and Community Development compiled by the University of Maryland’s National Center for Smart Growth, the state’s tax assessment process consistently leads to higher assessments for properties in Black neighborhoods, and that leads to higher taxes for Black homeowners than white owners.

And there have been several high-profile cases of home appraisals seemingly skewed by racial bias.

Our guest Aja’ Mallory wrote about these challenges in a recent editorial for our news partner, The Baltimore Banner. She is a Senior staff attorney at the Maryland Volunteer Lawyers Service.

We also spoke with members of the Maryland Task Force on Property Appraisal and Valuation Equity, recently created to study the persistent undervaluation of property owned by minorities and find possible solutions.

Jacqulyn Priestly chairs the task force. She also works as a communication specialist at the public relations firm Oak Hill Strategies.

Greg Hare is a member of the task force and Assistant Secretary of the Community Development Administration at the Maryland Department of Housing and Community Development.

Jacqulyn Priestly is a person that went on TV to bemoan that her appraisal would be lower than she wants when she had a new construction built in PG county that she claims she spent over 1 million dollars to have built and cannot fathom how the appraisal could be lower than that. (yes thats right this was before the appraisal was completed)

 

[shrubberyvaluation]

If Shane would've had an analysis on how he derived that adjustment....it wouldn't be an issue...

All he had to do was use the 2% industry standard!

 

[Surf Cat]

You do know the 1004MC is just for comparable properties and not the entire subject market? The differences between the 1004MC and first page don't have much meaning unless of course the MC was filled out incorrectly and included all of the sales in the subject market.

"I" know....the OP shouldn't have indicated he had 34-36 "comparable" sales in the MC. Why would you use only 4 sales if you had that many and have a final reconciliation 14% below the lowest median sale price within the MC? It sure doesn't look good...

Look, I don't want to bag on this guy.....I'm just pointing out all the red flags.... once again, I don't think the guy is biased, I just think it's a poorly supported report.

 

[shrubberyvaluation]

"I" know....the OP shouldn't have indicated he had 34-36 "comparable" sales in the MC. Why would you use only 4 sales if you had that many and have a final reconciliation 14% below the lowest median sale price within the MC? It sure doesn't look good...

Look, I don't want to bag on this guy.....I'm just pointing out all the red flags.... once again, I don't think the guy is biased, I just think it's a poorly supported report.

Perhaps its lower because its next to a busy road and not updated...

 

[Surf Cat]

All he had to do was use the 2% industry standard!

If the OP would have gone back in time and derived a % of the difference from the actual sales that transpired on the subject's busy street to the sales not on the busy street in the immediate neighborhood and reported those findings within the appraisal....(and retained the evidence within the workfile) this 2% "industry standard" nonsense wouldn't be an issue.

 

[shrubberyvaluation]

If the OP would have gone back in time and derived a % of the difference from the actual sales that transpired on the subject's busy street to the sales not on the busy street in the immediate neighborhood and reported those findings within the appraisal....(and retained the evidence within the workfile) this 2% "industry standard" nonsense wouldn't be an issue.

Yes it would be. Well the real issue is the appraisal was not high enough to get the loan, the rest is just a bunch of junk to try to fool people.

 

[Non Sequitur]

All he had to do was use the 2% industry standard!

Ha!

 

[Surf Cat]

Perhaps its lower because its next to a busy road and not updated...

Perhaps....hard to tell by the lack of supporting evidence within the report....