Black homeowner had a white friend stand in for third appraisal. Her home value doubled.

[Vorg]

INDIANAPOLIS – Carlette Duffy felt both vindicated and excited. Both relieved and angry.

For months, she suspected she had been low-balled on two home appraisals because she's Black. She decided to put that suspicion to the test and asked a white family friend to stand in for her during an appraisal. 

Her home's value suddenly shot up. A lot. 

https://www.msn.com/en-us/money/realestate/black-homeowner-had-a-white-friend-stand-in-for-third-appraisal-her-home-value-doubled/ar-BB1gHnuW?ocid=msedgdhp
 

[SeekTruth]

6 minutes ago, South Alabam said:

INDIANAPOLIS – Carlette Duffy felt both vindicated and excited. Both relieved and angry.

For months, she suspected she had been low-balled on two home appraisals because she's Black. She decided to put that suspicion to the test and asked a white family friend to stand in for her during an appraisal. 

Her home's value suddenly shot up. A lot. 

https://www.msn.com/en-us/money/realestate/black-homeowner-had-a-white-friend-stand-in-for-third-appraisal-her-home-value-doubled/ar-BB1gHnuW?ocid=msedgdhp
 

That's an incredibly hasty conclusion to jump to and gives no regard to other factors and variables that might be at play.

Edited May 13, 2021 by SeekTruth

[+Desertrat56]

For a short time in the 70's my dad grew long sideburns and a big mustache.  He went to a local bank to get a loan, and they turned him down.  He took the paperwork to a bank in the city and asked if they could tell him why the bank turned him down.  There was no reason so he shaved and went back, filled out the same paperwork for the loan and was approved in minutes.  He turned them down and pointed out that he had been in there the week before.    It is not always black or other people of color that are treated badly.    

In Midland Tx I had a house for sale and I knew the appraiser, who was hired by the buyer was lying about the appraisal because he said "who ever built this house and sold it when it was new ripped the buyers off"   The house had orignally sold for 60,000 in 1984.   I was selling it in 1990.   He appraised it at 30,000.   

There are all kind of shenanigans that go on in that industry.  Banks often tell appraisers what to say.

I am glad this woman reported what happened. 

[SeekTruth]

6 minutes ago, SeekTruth said:

That's an incredibly hasty conclusion to jump to and gives no regard to other factors and variables that might be at play.

@Robotic Jew What did you find funny about this post? Let's discuss.

[+and-then]

The first two appraisers will have to justify their assessment during an investigation by the Feds.  Proving malice or racism in such a case will be difficult, if not impossible. If the home is structurally sound then it all goes back to "location, location, location".

[+Desertrat56]

16 minutes ago, SeekTruth said:

That's an incredibly hasty conclusion to jump to and gives no regard to other factors and variables that might be at play.

Really?   When the only thing that changed was the person interacting with the appraiser.   What planet do you live on.

[Robotic Jew]

7 minutes ago, and then said:

The first two appraisers will have to justify their assessment during an investigation by the Feds.  Proving malice or racism in such a case will be difficult, if not impossible. If the home is structurally sound then it all goes back to "location, location, location".

I guess claiming incomeptence is better than admitting to being racist...so that's probably the direction they'll go in.

[Michelle]

I wonder how different it would have been if she had gotten a white women to stand in for her?

[Silver]

14 minutes ago, Michelle said:

I wonder how different it would have been if she had gotten a white women to stand in for her?

Good point. Also the second time she  "stripped her home of all signs of her racial and cultural identity"- in other words, de-cluttered and not only that, made the home 'neutral' -  two moves which sales advisors always advise.

There are quite a few variables to take into consideration here.

[SeekTruth]

47 minutes ago, Desertrat56 said:

Really?   When the only thing that changed was the person interacting with the appraiser.   What planet do you live on.

What planet do I live on? The planet where it is wise to account for a multitude of variables before jumping to conclusions.

Edited May 13, 2021 by SeekTruth

[+susieice]

30 minutes ago, Michelle said:

I wonder how different it would have been if she had gotten a white women to stand in for her?

A lot of institutions will attempt to take advantage of a woman. No race necessary.

It's likely she would also have gotten a better assessment with a black man standing in for her. Women be aware.

Edited May 13, 2021 by susieice

[aztek]

MSN=fake news

[Sir Wearer of Hats]

4 hours ago, SeekTruth said:

@Robotic Jew What did you find funny about this post? Let's discuss.

Well.. if she went to a third appraiser, there is every possibility that the third appraiser would have given that appraisal anyway,we cannot tell because there is an directly comparative sample not like DR’s dad example.

[aztek]

in last year alone house prices  have skyrocketed, at least 20-40% jump,  hell, even used cars cost 2x as much now.  again liberal media is pushing false racist narrative.

Edited May 13, 2021 by aztek

[spartan max2]

22 minutes ago, aztek said:

in last year alone house prices  have skyrocketed, at least 20-40% jump,  hell, even used cars cost 2x as much now.  again liberal media is pushing false racist narrative.

Reading the article this really just looks like racism.

Her second appraiser apprised the house at 15k less even than the first one. And that one was further along in the pandemic, whereas the first one was at the start.

The final appraiser, with the white guy jumped the house by over 100% value. Not a 20-40 percent jump.

From 110k to 259k

Edited May 13, 2021 by spartan max2

[aztek]

Just now, spartan max2 said:

Reading the article this really just looks like racism.

Her second appraiser apprised the house at 15k less even than the first one. And that one was further along in the pandemic, whereas the first one was at the start.

The final appraiser, with the white guy jumped the house by over 100% value. Not a 20-40 percent jump.

you mean reading an article written by racist liberal msm??   sorry but i stopped talking them seriously 5 years ago.  you should too.

[+and-then]

5 hours ago, Robotic Jew said:

I guess claiming incomeptence is better than admitting to being racist...so that's probably the direction they'll go in.

They may not even have to go that far.  Markets can change quickly, based on many factors and proving malice is always difficult if the arbiter isn't biased and is honest.  The bottom line is that homes in some neighborhoods simply will not appraise at the level the exact same dwelling would bring in more affluent or less volatile areas.  I have no idea if the appraiser was racist, nor does anyone else BUT, they should have to justify THAT large a gap in valuing a home.  

[HandsomeGorilla]

... 

Edited May 13, 2021 by HandsomeGorilla
Always wondered who took click bait seriously. Now I know