Comments on: New Suspicious Law in CA https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948 Appraisal News and Tips for Real Estate Appraisers Tue, 12 Oct 2021 20:57:31 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Baggins https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32496 Tue, 12 Oct 2021 20:57:31 +0000 https://appraisersblogs.com/?p=25876#comment-32496 In reply to Eric Kessin on Facebook.

The appraisers are racist argument is one degree away from a Geico commercial.

If there is any training necessary, it’s construction principals and material worth.

]]> By: John Gazsi on Facebook https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32490 Fri, 08 Oct 2021 21:07:17 +0000 https://appraisersblogs.com/?p=25876#comment-32490 Going after all the white males over 50′ the rest of you are not the target, don’t worry its a witch hunt to justify diversity like Better Mortgage has exclaimed… they will be the next CountryWide to fall from fraud…

]]> By: CJK https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32489 Fri, 08 Oct 2021 21:00:13 +0000 https://appraisersblogs.com/?p=25876#comment-32489 If a buyer or seller believes that the appraisal has been influenced by any of the above factors, the seller or buyer can report this information to the lender or mortgage broker that retained the appraiser and may also file a complaint with the Bureau of Real Estate Appraisers at https://www2.brea.ca.gov/complaint/ or call (916) 552-9000 for further information on how to file a complaint.

So it they believe NOT if they have proof? Well I believe that I am a rich young black woman who is trapped in a poor old white mans body, as for proof why do I need proof, I just believe. The best course of action might be to just stop talking to people at the property. How would the buyer even know 99% of the time I never even see the buyer.

]]> By: JohnnyQ https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32488 Thu, 07 Oct 2021 23:55:06 +0000 https://appraisersblogs.com/?p=25876#comment-32488 Cultural competency? WTH is that and what does it have todo with what buyers and sellers do in any particular market sector.

]]> By: E J Brownn https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32487 Thu, 07 Oct 2021 22:20:20 +0000 https://appraisersblogs.com/?p=25876#comment-32487 I’m thinking of doing a refi. In my opinion my house is “reasonably worth” $180,000 but any info I can find on line says $275,00 we’re free & clear & 71 yr old. Should I cash out & run?
We have a cabin to disappear to. Show me the money !!!

]]> By: E J Brownn https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32486 Thu, 07 Oct 2021 22:14:44 +0000 https://appraisersblogs.com/?p=25876#comment-32486 I’m thinking of doing a refi. In my opinion my house is “reasonably worth” $180,000 but any info I can find on line says $275,00 we’re free & clear & 71 yr old. Should I cash out & running?
We have a cabin to disappear to. Oh yeah, I have a Latino wife who’s probably in the bias category.

]]> By: Eric Kessin on Facebook https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32485 Thu, 07 Oct 2021 21:32:57 +0000 https://appraisersblogs.com/?p=25876#comment-32485 Translation – if you are in a minority group, and the appraisal is lower than you expected, the appraiser is racist.

]]> By: Cheryl Ferguson on Facebook https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32484 Thu, 07 Oct 2021 21:32:06 +0000 https://appraisersblogs.com/?p=25876#comment-32484 Particularly in CA where BREA investigators will literally open an investigation for a literal TYPO in an appraisal report!!!! I guess they need more workload for their investigators. I am certain any “suspicion” will be assumed to be a violation on the appraiser’s part.

]]> By: gws https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32483 Thu, 07 Oct 2021 19:40:02 +0000 https://appraisersblogs.com/?p=25876#comment-32483 I lost a very large account due to a lender using AVMs. Does this law pertain to them (AVMs) as well?
How about BPOs?

]]> By: Mary https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32482 Thu, 07 Oct 2021 19:35:49 +0000 https://appraisersblogs.com/?p=25876#comment-32482 “The complainant” can report if they feel the value is below market value! Gimme a break. Are these people experts in market value analysis and interpretation. Of course they will say the value is below market if they don’t like the Appraiser’s number. This is insanity. When thousands of us bow out of the lender market due this kind of law (I am so glad most of my business is non lender but I will have to make that 100% non lender soon) they will be singing a different tune. Pretty soon they will tell us to use comparable sales in superior valued neighborhoods in order to eliminate BIAS! That will be coming down the pike just watch and when it does we better ALL tell them what they can do with that kind of request! The buyers are the ones who dictate value, so they need to ask why the BUYERS/Market are Biased, not the Appraiser who comes in after the fact in most cases. Just because of 1 or 2 bogus news stories that were not fully investigated this is what the result is by law makers who have NO clue about what we do. Well they will be in for a rude awakening.

]]> By: Seneca https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32481 Thu, 07 Oct 2021 19:27:58 +0000 https://appraisersblogs.com/?p=25876#comment-32481 So would it be an issue if you back out of an assignment when you find out who the borrower is based on protentional liability but base the reason on something else?

]]> By: Baggins https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32480 Thu, 07 Oct 2021 18:14:37 +0000 https://appraisersblogs.com/?p=25876#comment-32480 In reply to Koma.

The statistical probability of complaints is very high.
https://datausa.io/profile/geo/california
https://www.cbs8.com/article/news/local/california/calmatters/why-is-housing-so-expensive-in-california/509-e463dd3f-4041-43b9-8983-4226caee88e2

]]> By: Baggins https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32479 Thu, 07 Oct 2021 17:29:11 +0000 https://appraisersblogs.com/?p=25876#comment-32479 In reply to Koma.

They will discover one portion of market participants complain more than others. They will point to ‘the data’ as proof positive of ‘appraisal bias’. Value pressure will be applied. Predictable.

]]> By: Koma https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32478 Thu, 07 Oct 2021 17:19:11 +0000 https://appraisersblogs.com/?p=25876#comment-32478 In reply to Brian Kirkpatrick on Facebook.

Not saying we as a profession are perfect, no profession is, but the proof needs to be presented before people start going crazy.

]]> By: Baggins https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32477 Thu, 07 Oct 2021 17:17:11 +0000 https://appraisersblogs.com/?p=25876#comment-32477 What happened to the appraisal value pressure hotline? Meanwhile, realty agents continue to use price and value language interchangeably, clueless of the difference. “Did this come in at value?” “If you are having trouble with value, let me know.” “Did your report make value?” “Let me know if this may be short on value.”

Acceptable market value to whom specifically? Buyer or seller? People embrace this illusion that real estate is always fair, regardless of the position or interests of the individual participants. In a sellers market, buyers always lose. In a buyers market, sellers always lose. In the effort to create better affordability with suppressed interest rates, they’ve caused pricing to become unaffordable, cutting the poorest out. Make it make sense.

]]> By: gws https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32476 Thu, 07 Oct 2021 17:15:49 +0000 https://appraisersblogs.com/?p=25876#comment-32476 Look at the source. A complete idiot running the 7th or 8th largest economy in the world into the ground. If it happens there, only a matter of time before it comes to your state. I stopped doing bank work 6 years ago.. .

]]> By: Brian Kirkpatrick on Facebook https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32475 Thu, 07 Oct 2021 17:10:36 +0000 https://appraisersblogs.com/?p=25876#comment-32475 Dumbest cancel culture thing ever created. We report economic conditions based on data created by others….

]]> By: Koma https://appraisersblogs.com/suspicion-of-a-discriminatory-appraisal-new-ca-suspicious-law-ab-948/#comment-32474 Thu, 07 Oct 2021 15:23:08 +0000 https://appraisersblogs.com/?p=25876#comment-32474 Just wait til the market downturn then these types of complaints will skyrocket. Still haven’t seen any proof from these accusations.

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