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

[djd09]

USPAP is so bad....that the state boards thought due dates were a violation

 

[RCA]

Connolly and Mott v. Lanham, et al.

www.relmanlaw.com

John P. Relman

www.relmanlaw.com

Congress should investigate TAF and ask WTF.

Be cautions, looking at RedFin, Zillow, et al., considering the home was purchased for $450K 3/22/2017. It was inspected 7/14/2021. According to Zillow, its value on that date should have been about $621K. And this is in line with other properties around the area. In fact on the subject road 209 Churchwardens Road, Baltimore, MD, there are some much larger and more expensive homes - as well as some smaller ones. From looking at Zillow, that valuation by Lanham of $472K ---> does not look good at all from the perspective of Zillow.

HOWEVER, I also noticed that in this area Zillow is overvaluing about all homes, i.e. they often sell for less than the Zillow listing, or the asking price.

So, Lantham could be right, he could be wrong. And from a distance, it is hard to tell. But other appraisers on the forum have dug up some pretty good evidence (seen at a distance) that supports the Lantham valuation, although notably no properties on Churchwardens Road, as far as I have read. I don't have any more time to look into the matter.

 

[djd09]

zillow aint even worth the effort of clicking on...garbage

 

[George Hatch]

Be cautions, looking at RedFin, Zillow, et al., considering the home was purchased for $450K 3/22/2017. It was inspected 7/14/2021. According to Zillow, its value on that date should have been about $621K. And this is in line with other properties around the area. In fact on the subject road 209 Churchwardens Road, Baltimore, MD, there are some much larger and more expensive homes - as well as some smaller ones. From looking at Zillow, that valuation by Lanham of $472K ---> does not look good at all from the perspective of Zillow.

HOWEVER, I also noticed that in this area Zillow is overvaluing about all homes, i.e. they often sell for less than the Zillow listing, or the asking price.

So, Lantham could be right, he could be wrong. And from a distance, it is hard to tell. But other appraisers on the forum have dug up some pretty good evidence (seen at a distance) that supports the Lantham valuation, although notably no properties on Churchwardens, as far as I have read.

Condition counts, and so does the traffic location. As evidenced by the sale of the house next door which was in superior condition and has the same location, and which sold AFTER the 1st appraisal during an increasing market trend.

 

[RCA]

Condition counts, and so does the traffic location. As evidenced by the sale of the house next door which was in superior condition and has the same location, and which sold AFTER the 1st appraisal during an increasing market trend.

It appears that 7/14/2021 was completely in the middle of an increasing upward trend in values --- that is concerning. And that could be part of the problem, most appraisers are not that good at measuring trends with any accuracy. And some agents and sellers don't seem to be very aware of price trends and add to that many agents are more interested in selling at any price than working extra hard to get the highest possible price. -- A mixture that can lead to problems and dissatisfaction, regardless of race.

And this goes back to the backwards education that TAF and the AI have institutionalized over the past several decades. It does not give the tools that appraisers need to extract and measure variables such as date of sale with any accuracy. So, for that reason, IMO, TAF should be sued big time.

 

[Mejappz]

And this goes back to the backwards education that TAF and the AI have institutionalized over the past several decades. It does not give the tools that appraisers need to extract and measure variables such as date of sale with any accuracy. So, for that reason, IMO, TAF should be sued big time.

No doubt about it. These two institutions along with the GSEs are primarily to blame for this mess.

 

[shrubberyvaluation]

Be cautions, looking at RedFin, Zillow, et al., considering the home was purchased for $450K 3/22/2017. It was inspected 7/14/2021. According to Zillow, its value on that date should have been about $621K. And this is in line with other properties around the area. In fact on the subject road 209 Churchwardens Road, Baltimore, MD, there are some much larger and more expensive homes - as well as some smaller ones. From looking at Zillow, that valuation by Lanham of $472K ---> does not look good at all from the perspective of Zillow.

HOWEVER, I also noticed that in this area Zillow is overvaluing about all homes, i.e. they often sell for less than the Zillow listing, or the asking price.

So, Lantham could be right, he could be wrong. And from a distance, it is hard to tell. But other appraisers on the forum have dug up some pretty good evidence (seen at a distance) that supports the Lantham valuation, although notably no properties on Churchwardens Road, as far as I have read. I don't have any more time to look into the matter.

Zillow does not seem to be able to tell market areas. If you are in a community that sells lower than surrounding communities zillow will most likely overvalue it as it will lump it together.

 

[George Hatch]

It appears that 7/14/2021 was completely in the middle of an increasing upward trend in values --- that is concerning. And that could be part of the problem, most appraisers are not that good at measuring trends with any accuracy. And some agents and sellers don't seem to be very aware of price trends and add to that many agents are more interested in selling at any price than working extra hard to get the highest possible price. -- A mixture that can lead to problems and dissatisfaction, regardless of race.

And this goes back to the backwards education that TAF and the AI have institutionalized over the past several decades. It does not give the tools that appraisers need to extract and measure variables such as date of sale with any accuracy. So, for that reason, IMO, TAF should be sued big time.

Just because an appraiser didn't apply a market conditions adjustment (or write a good summary of the neighborhood or explain that prices are higher south of than north of that busy road) doesn't mean the appraiser didn't know how to do it. Or that their QE instruction didn't cover those topics.

"Didn't do it" isn't proof of "can't do it"

Using the result to back into the predetermined motivated reason is what the cat ladies did. You don't need to emulate that sort of illogical methodology to make your case.

 

[Surf Cat]

Just because an appraiser didn't apply a market conditions adjustment (or write a good summary of the neighborhood or explain that prices are higher south of than north of that busy road) doesn't mean the appraiser didn't know how to do it. Or that their QE instruction didn't cover those topics.

"Didn't do it" isn't proof of "can't do it"

The above and more is Lanham's problem. Just because he "didn't do it" doesn't make him a racist though. Just sloppy. Wrong house, wrong time to be sloppy....which could be, if the lawyers can spin it to win it, construed as biased.

The Narrative is definitely on the couple's side.

 

[ucbruin]

Miller's verbiage in her report was way worse than Lanham's....
IMO....