Low Appraised Value = Racial Bias?
- Desktop Appraisals Soon to Be the New Purchase Wrinkle - October 21, 2021
- New Suspicious Law in CA - October 7, 2021
- No Mandatory AMC Use - September 10, 2021
I’m getting tired of accusations of race bias in appraisals, which ALL have alleged the ‘low appraised value’ is caused by the presumed built-in systemic racial bias of the appraisers involved.
Even the President of the Appraisal Institute, when interviewed, can’t even bring himself to offer a different perspective of what may have happened, that being improper comparables were used which resulted in a lower than anticipated value. He just agrees with the assumption that ‘we’ are at fault because ‘we’ appraisers are filled with improper biases. And just you wait, the AI organization will design classes to teach people not to be biased. Tune in at the 11 pm newscast to see if these will be effective.
This fact (potentially improper comps), in case you have not been paying attention, is the key ingredient in all the media blasts targeting the appraisers, and by de facto association, ALL APPRAISERS.
In the case above, the sellers presumed the SALE PRICE as agreed to by the buyer was appropriate, and that the appraisal should support that figure. The TV reporter even quoted Zillow’s value, which we all know is highly accurate… NOT. When the appraised value didn’t meet the sale price, the first assumption was that the appraiser conspired to lower the appraised value based on ‘race’ only. When interviewed by the TV reporter, the appraiser (off camera) was incredulous about that accusation. Do we even know the ‘race’ of the appraiser? NO.
All this junk about ‘race’ is planned strategy to support ‘wokeness’, critical race theory, and other tactics to support a singular message – that “whites” are the worst people walking the planet. It started several years ago, and now has reached crescendo pitch – largely because a primary person high up in the government food chain has decided to make it a priority.
So far, all we’ve had is accusations based on ‘feelings’ and the built-in BIAS of the aggrieved party, with no actual basis in facts. There have been no critical technical reviews of any of the reports provided as ‘the rest of the story’ to see exactly what was done by the original appraiser.
Maybe what should be done is with any assignment where the ‘presumed’ property owner is someone of dark skin, the appraiser should just decline the order. Maybe we should ask that question up front, “hey, are you a different color than I am??”
Seems to me that’s the only way to avoid being labeled as a systemic racist appraiser.
Because that’s how ‘we have’ been labeled so far. And it’s not going to end any time soon.