Tag Archives: appraisal bias

4 ways homesellers can maximize their home’s appraisal value

By | | Uncategorized
Comments Off on 4 ways homesellers can maximize their home’s appraisal value

Fair housing expert Dr. Lee Davenport says that your low appraisal may have nothing to do with the lack of landscaping. Continue reading →

‘Historic’ agreement aims to break racial barriers in appraisal industry

By | | Uncategorized
Comments Off on ‘Historic’ agreement aims to break racial barriers in appraisal industry

The Appraisal Foundation will establish $1.22 million scholarship fund to help aspiring appraisers navigate “an alternative, more inclusive path” for fulfilling experience requirements that are said to have contributed to a lack of diversity. Continue reading →

Dr. Shani Mott spent her last days fighting for housing equality

By | | Uncategorized
Comments Off on Dr. Shani Mott spent her last days fighting for housing equality

The Baltimore homeowner succumbed to cancer before she could celebrate a landmark appraisal bias win. She’s part of a long legacy of Black homeowners who’ve died while fighting for their rights. Continue reading →

LoanDepot settles high-profile appraisal bias lawsuit filed in 2022

By | | Uncategorized
Comments Off on LoanDepot settles high-profile appraisal bias lawsuit filed in 2022

Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black. Continue reading →

What to do if a client says, ‘I’m not selling my home for THAT price’

By | | Uncategorized
Comments Off on What to do if a client says, ‘I’m not selling my home for THAT price’

If your client is frustrated by a lowball appraisal, even when they’ve done everything right to get ready for the market, there may be bias at work, Dr. Lee Davenport writes. Continue reading →

Project to tackle appraisal bias continues with Nov. 1 hearing

By | | Uncategorized
Comments Off on Project to tackle appraisal bias continues with Nov. 1 hearing

The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for a hearing on tackling appraisal bias. Continue reading →

Veros says its AVM isn’t tripped up by historical redlining boundaries

By | | Uncategorized
Comments Off on Veros says its AVM isn’t tripped up by historical redlining boundaries

Study finds that homes located within historically redlined neighborhoods tend to have less living space, smaller lot sizes and more variations in quality. Continue reading →

Quality control standards for AVMs may cover discrimination

By | | Uncategorized
Comments Off on Quality control standards for AVMs may cover discrimination

Proposed standards would include random sample testing and reviews to ensure a “high level of confidence” in the estimates produced by AVMs. Continue reading →

Appraiser ordered to watch exposé on Black homeowners she lowballed

By | | Uncategorized
Comments Off on Appraiser ordered to watch exposé on Black homeowners she lowballed

Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal. Continue reading →

Those claims of appraisal bias? Another study backs them up

By | | Uncategorized
Comments Off on Those claims of appraisal bias? Another study backs them up

Homes in white neighborhoods are valued twice as high as those in communities of color, even in places with otherwise similar housing stock, according to a study out this week. Continue reading →