Comments on: Diatribes Against Appraisers

By: Divedude

Divedude — Wed, 07 Dec 2022 13:01:09 +0000

First of all, how many appraisers have been convicted or lost their license for a racially motivated value? Are those crickets I hear? Any appraiser who would risk is livelihood with a value base on race has much worse mental health problems than being a racist. I’m suspicious of this whitewashing and blackwashing. Is one an appraisal and the other a CMA by a realtor? I’ve seen that more than once. Desktop and bifurcated appraisals are a scam designed by Fannie Mae to control the valuation process plain and simple. They’re not credible so don’t do them! Where is the lawsuit? Sign me up!

By: PJTMC

PJTMC — Wed, 02 Nov 2022 12:55:14 +0000

In reply to MD appraiser.

Oh, just wait. The knee-jerk reaction crowd, not wanting to appear “biased”, will take care of that in short order. This way the appraiser can be demonized even further when Government predetermined expectations are not met. Kind of like the tail wagging the dog.

By: Kathy Morton Bunting Hoey on Facebook

Kathy Morton Bunting Hoey on Facebook — Wed, 02 Nov 2022 03:54:33 +0000

Our MLS has no census tract identifier. The AI and AF have sold us out for their own interests and push the interests of those promoting the junk reports and bifurcated reports which do not support the best interests of the consumer, lender or Appraisers. If we do not find a way to counteract the messages and build new leadership within the profession, those who do lender work will lose their livelihood. Allowing the current “Leadership” to continue to represent us will lead us nowhere but down!

By: Mitzi

Mitzi — Tue, 01 Nov 2022 02:45:49 +0000

When I do an appraisal I pull all my data the night before, 1 mile used typically for Charlotte Metro and there is no identity of the owners in pulling public information on the subject. I pulled comps and never met the people to the house until next day at the appointment and on sales I never meet the new home owner just the seller. So there is no influence of race so it is all just a set up for some reporter to do another hit piece.

By: JOSEPH T ELLINGTON JR

JOSEPH T ELLINGTON JR — Tue, 01 Nov 2022 01:05:36 +0000

In reply to WA State Appraiser.

I agree, I will reject the new desktop appraisal. It burns me up! Enough is enough!

By: Pat

Pat — Tue, 01 Nov 2022 00:48:06 +0000

This brain dead article is not supported by facts or non-bias. It was written hoping to prove a hoped for answer/result-

Don’t forget:
There are lies
There are damned lies
And then there are statistics

By: Baggins

Baggins — Tue, 01 Nov 2022 00:00:39 +0000

In reply to Seneca.

To the uninformed, price is the same thing as value. I wish someone would drive down my next potential home purchase price basis. Geesh.

By: Baggins

Baggins — Mon, 31 Oct 2022 21:00:44 +0000

In reply to PJTMC.

Yeah, they’re looking at ‘data’, but don’t necessarily understand what they have reviewed. So they draw conclusions based on their own biases and wishful or pessimistic thinking.

https://appraisersblogs.com/lowballed-it-is-open-season-on-appraisers#comment-36050

By: Seneca

Seneca — Mon, 31 Oct 2022 20:46:58 +0000

So 4 out the 6 tests the black person got a higher value. I think they misread their own study.

By: WA State Appraiser

WA State Appraiser — Mon, 31 Oct 2022 20:16:50 +0000

They blamed us for the 08 crash and they’re prepping to do it again. Always need a scapegoat and what better place to find one than a group that is unorganized and has a “history” of faults? Now with the new desktop appraisals, like the exterior only appraisals, too much liability and an easy way to blame someone as your information is more limited. I reject every single request for these and have told my clients I will not be doing them.

By: PJTMC

PJTMC — Mon, 31 Oct 2022 19:55:48 +0000

As a postscript, no one knows the circumstances of the appraisal being touted as “proof”, figures can be massaged to accommodate ones preconceived conclusions and isn’t it the appraiser that determines the parameters of a property “neighborhood”? In 37 years, I was never taught the CT is the definition of neighborhood.

By: PJTMC

PJTMC — Mon, 31 Oct 2022 19:18:24 +0000

Very good observations and supported reasoning. The sad part is (as you have pointed out), for the most part, the spinless appraisal organizations are impotent and more concerned with how they are perceived. Not even the NAR is willing to defend their appraisal members. They are all so busy running for cover for fear of being labeled racist they can’t duck for cover fast enough. Do realtors look at census tract numbers when taking a listing? None that I know of. They look at comparable, closed, arms-length sales/iistings/pendings/expired in similar market areas (preferably the immediate neighborhood) when arriving at a list price. It has been that way since the beginning of time with no racial implications. Face it, real estate has always been about location thus the NAR term “location, location, location”. The appraiser does not control the list price of properties; the realtors do in most cases. Funny how the issue here is mostly about refinances and not what the properties are being listed and sold at by the local realtors who are not in the habit of marketing a property outside what they perceive as the sale price range. Why, because there is no money in it. Not because they are racist, because that is what the market evidence shows. Realtors price properties based on what they believe it will sell for. It is so simplistic yet being made so convoluted when it comes to appraisers. For the sake of argument, does one really believe a realtor would actually list a property for $300,000. when market data will only support a $225,000.? In the appraisal business this would be called “fraud” but it is exactly what appraisers are being asked to do. Where does this misguided rationale end. What is happening to appraisers is an attempt to actually and openly influence the appraiser through intimidation, accusations and threats including actual breaking of the law. My comments should not be misconstrued as an attack on the hard-working realtors at the NAR but to bring attention to the ridiculousness of the government arguments about out-of-control white appraiser bias but nothing about listing or sales prices for a particular geographic area. In closing, I digress to the recent NAR pole showing a perceived 2% appraisal bias (undefined race or color; individuals or appraisers) and have to ask why the NAR is not stepping up to the plate based on their own statistics. Be assured if this was an attempt to dissolve the NAR there would be an all-out response in force (hmmm, I am an appraiser member, but I guess just not important enough). I rest my case.

By: MD appraiser

MD appraiser — Mon, 31 Oct 2022 17:06:30 +0000

In reply to Bill Johnson.

Great point Bill. I just checked my local MLS and sure enough there is NO census track field to search. Area search criteria available are: map search, subdivision, county, MLS area, school district, address, zip, city or building name.

By: Baggins

Baggins — Mon, 31 Oct 2022 15:53:29 +0000

‘Whitewashed’. ‘Blackwashed’. I was not aware that the products in my house were supposed to be limited to my specific ethnic identity.

“Under valued”… Value; The end point of relative worth derived from a persons economic capabilities and subsequent acquisitions. Sorry, under value of homes across populace is the employment, credit, and lenders department, not the home value appraisal department. What’s next, arguments how black art is undervalued comparative to white art through history? The reparations approach is never going to work, all they’ll end up with is socialism which deprives all people of unprecedented volumes of possible wealth. Flawed observational theories from the start.

The real cost of the State is the prosperity we do not see, the jobs that don’t exist, the technologies to which we do not have access, the businesses that do not come into existence, and the bright future that is stolen from us. The State has looted us just as surely as a robber who enters our home at night and steals all that we love. Bastiat.

By: Bill Johnson

Bill Johnson — Mon, 31 Oct 2022 15:49:58 +0000

I’ve asked for years (borrowers, agents subject/comps), if the census tract was given any consideration when buying, selling, listing, etc., and get crickets every time. Interesting enough, my local MLS (5 million + population), has NO census tract field to search, and thus without an extreme effort (individual property look up / public records), any and all neighborhood data in the report will be free of any sorting of data based on census tract info.

Come up with your own comment “locationaly, physically, functionally, selected….. but I would suggest to seek the truth, find the truth, and notate the truth regarding known weight applied to census tract info.

Seek the truth.