"CBS News and Gayle King have been fomenting racial division."
Posted on 12/08/2021 8:21:09 AM PST by 1Old Pro
A Black couple in Northern California says an appraiser undervalued their home by nearly half a million dollars because of their race. They took the unusual action of asking a White friend to show the home for a second appraisal, which was significantly higher. Anna Werner has the story. Air Date: Dec 8, 2021
(Excerpt) Read more at cbs.com ...
Was it the same appraiser?
No, so so much for the "study" if there isn't a control.
This exact story was reported over a year ago. Hard to believe the desperation on the Left is so extreme they are re reporting the same story as if it is current.
Appraisals are based on area comps. Prices seem to go up monthly, so I have little doubt the discrepancy in appraisals is due to market fluctuations. Sometimes things happen due to circumstances besides skin color.
Spot on. Gotta keep the grievence industry going.
asked “white friend”...it’s called bias...
Undervalued their home by nearly half a million dollars - We did not like the value the appraiser provided us.
because of their race. - This is the go to card to be used any time it is desired.
They took the unusual action of asking a White friend to show the home for a second appraisal, which was significantly higher. - It came in at a better price but we still did not get what we wanted.
Conclusion - The white man keeps holding us down.
They need to keep up the racial divide fake news.
so the realtor was willing to throw away cash?
If it was for the purposes of a home equity loan, the low appraiser was doing them a favor, possibly saving them from losing their home in an economic downturn or hardship.
They didn't get into those facts, how the owners in in way over their heads in loans.
Keep them from borrowing more than they should.
While this doesn’t mean an obvious case of racism, this large of a disparity in the appraisal looks fishy. But, as the comments have indicated, there’s more to the story that isn’t reported.
"CBS News and Gayle King have been fomenting racial division."
An appraiser, not a realtor.
Much like asking lawyers or economists their opinion – what you get from an appraiser is an “opinion.” I have seen MAI designated appraisers differ in value by over a million dollars (even on a deal where neither value exceeded 4 million). https://www.rinkenoonan.com/resources/how-can-appraisals-be-so-different/
Hopefully the second appraiser gets arrested for fraud.
Exactly
How unique is the house? If it is way out of the neighborhood's price range or stand alone with nothing near, then appraisals are big guesses. On the other hand in my neighborhood of late 1950’s houses I think there are three or four floor plans so appraisals are easy. The only real differences are basement or slab and attached or detached garages
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