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How to instantly increase the value of your house...

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  • #16
    Originally posted by Stoic View Post

    My point being that the example you were referencing was not pertinent to this thread.
    It was. It was simply an example that what may be an obvious race issue might actually have other factors beyond race impacting the reason.

    Whether he is correct here or not is a different question.

    Comment


    • #17
      Originally posted by Stoic View Post
      My point being that the example you were referencing was not pertinent to this thread.
      My point being that some times these sort of stories surface while leaving out pertinent details.

      I'm always still in trouble again

      "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
      "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
      "Of course, human life begins at fertilization that’s not the argument." --Tassman

      Comment


      • #18
        Originally posted by Stoic View Post
        The three examples given so far involve appraisals done one shortly after the other, and a large difference in the appraised values.

        It's not likely that the differences were due to large changes in the homes' actual values.
        Right, and the stories strongly imply that correlation equals causation, which every intelligent person knows is a logical fallacy, which is why I, being an intelligent person, would like to know if other potential factors have been ruled out and it has been definitely proven that this is nothing more than unadulterated racism. The stories do not fill me with the confidence that the reporters did their due diligence.
        Some may call me foolish, and some may call me odd
        But I'd rather be a fool in the eyes of man
        Than a fool in the eyes of God


        From "Fools Gold" by Petra

        Comment


        • #19
          Again, what exactly are all the variables? Why would the ethnicity of the occupants have anything to do with the value of the house?
          If it weren't for the Resurrection of Jesus, we'd all be in DEEP TROUBLE!

          Comment


          • #20
            Originally posted by Mountain Man View Post
            Right, and the stories strongly imply that correlation equals causation, which every intelligent person knows is a logical fallacy, which is why I, being an intelligent person, would like to know if other potential factors have been ruled out and it has been definitely proven that this is nothing more than unadulterated racism. The stories do not fill me with the confidence that the reporters did their due diligence.
            What other potential factors do you think need to be ruled out?

            Comment


            • #21
              That's what I keep asking! It sounds like something that needs actual investigating, not just jumping to any conclusion.
              If it weren't for the Resurrection of Jesus, we'd all be in DEEP TROUBLE!

              Comment


              • #22
                Originally posted by Stoic View Post

                What other potential factors do you think need to be ruled out?
                There are any number of factors that can affect home values. Were those definitively ruled out leaving the race of the owner as the sole determining factor? It seems the answer is no.

                I'm not saying that this couldn't be a genuine case of racial discrimination, but there is simply not enough information in these stories to definitively reach that conclusion.
                Some may call me foolish, and some may call me odd
                But I'd rather be a fool in the eyes of man
                Than a fool in the eyes of God


                From "Fools Gold" by Petra

                Comment


                • #23
                  And I don't even know what those factors are.
                  If it weren't for the Resurrection of Jesus, we'd all be in DEEP TROUBLE!

                  Comment


                  • #24
                    Originally posted by Stoic View Post
                    (Sorry, this technique probably won't work if you're white.)

                    Source: https://www.newsweek.com/black-woman-says-house-appraisal-increased-after-removing-family-photos-1589098


                    Duffy anticipated that the value of her home had increased since she bought it for $100,000 in 2017, estimating it was probably worth around $185,000 in 2020.

                    But the first appraisal in March last year valued her home at $125,000. A second, a couple of months late, came back at $110,000.

                    Duffy had purchased a market analysis for her home that concluded a possible list price of $187,000. But when she provided it to the lenders, she was told the appraised amounts would not change. "I felt completely defeated," she said.

                    Later in the year, after her credit had recovered, Duffy reached out to a new lender.

                    This time, she didn't declare her race or gender during the application process and interacted with them only via email.

                    And when the time came for the appraisal, she told the lender that she was going to be out of town and her brother would be at her house.

                    Duffy had a white friend pose as her brother when the appraisal was conducted on November 4 last year. She also took down pictures of herself, removed African American art and any books in her home that might indicate her race.

                    Two days later, she received a copy of the appraisal valuing her home at $259,000.

                    © Copyright Original Source

                    Two thoughts:
                    1) That's a huge increase in value over 4 years. There's got to be something we're not seeing here that's driving the price difference. It also seems that she had credit issues at the time of the first appraisal, though I don't know why that would impact a home's valuation.
                    2) It was really hard to move real estate at the beginning of the COVID pandemic. That may have had some impact on the appraisal.

                    Source: https://abc7news.com/black-homeowner-problems-sf-bay-area-housing-discrimination-minority-homeownership-anti-black-policy/10331076/


                    After moving in to their home, which was originally built in the 1960s, the Austins staged major renovations.

                    The couple added an entire floor and more than another 1,000 square feet of space.

                    They didn't stop there, building a deck, new floors, a fireplace, and adding new appliances.

                    Then, the Austins got the home appraised.

                    "I read the appraisal, I looked at the number I was like, 'This is unbelievable'," said Tate Austin.

                    The family tells ABC7 that their appraiser was an older white woman.

                    The Austins are convinced race was a factor in her estimate.

                    The appraisal contains what the family believes was coded language, like "Marin City is a distinct area."

                    The home appraised for $989,000, or just $100,000 more than what the Austins got it appraised for prior to their renovations, despite $400,000 in costs.

                    "It was a slap in the face," said Austin.

                    The family immediately called their lender and pushed back. After a month of escalating their complaints, The Austins were approved for a second appraisal.

                    When the day came for inspection, they got creative with the process.

                    "We had a conversation with one of our white friends, and she said 'No problem. I'll be Tenisha. I'll bring over some pictures of my family,'" Austin said. "She made our home look like it belonged to her."

                    The home appraised for $1,482,000, or roughly $500,000 more than it appraised for just weeks prior.

                    The change was equal to a nearly 50% increase in value.

                    © Copyright Original Source

                    San Francisco, eh?
                    For the sarcastically impaired the following is said in jest

                    Must've been a conservative.



                    Look, there are certainly racists out there. However, what is routine doesn't make the news. These are undoubtedly outliers. I bought my house from a black man. I certainly didn't get any sort of discount because of that (nor should I have).
                    Enter the Church and wash away your sins. For here there is a hospital and not a court of law. Do not be ashamed to enter the Church; be ashamed when you sin, but not when you repent. – St. John Chrysostom

                    Veritas vos Liberabit<>< Learn Greek <>< Look here for an Orthodox Church in America<><Ancient Faith Radio
                    sigpic
                    I recommend you do not try too hard and ...research as little as possible. Such weighty things give me a headache. - Shunyadragon, Baha'i apologist

                    Comment


                    • #25
                      Originally posted by Stoic View Post

                      What other potential factors do you think need to be ruled out?
                      Here's an article from back in 1987 about factors that could lead to highly varying appraisals. I chose this one to show it's been something that's happened for a long time.

                      https://www.orlandosentinel.com/news...103-story.html

                      Comment


                      • #26
                        Originally posted by Christianbookworm View Post
                        And I don't even know what those factors are.
                        Economy, inflation, demand, what comparable homes are currently selling for.
                        Some may call me foolish, and some may call me odd
                        But I'd rather be a fool in the eyes of man
                        Than a fool in the eyes of God


                        From "Fools Gold" by Petra

                        Comment


                        • #27
                          Originally posted by Mountain Man View Post

                          Economy, inflation, demand, what comparable homes are currently selling for.
                          I think you are saying, "Maybe the values of all the houses in the area increased by 40 to 50 percent over the period of time between the two appraisals."

                          That's a valid point.

                          The first example in the OP was in Indianapolis, and the appraisals took place between March and November of last year. Over that period, Zillow's Home Value Index only went up about 10 percent.

                          The second example doesn't give dates for the appraisals, and I can't find median home prices specifically for Marin City, but there have been no jumps of 50 percent over a few months in Marin County over the last five years, according to Zillow. I think it would have made the news if Marin City home values had gone up 50 percent in a few months.

                          The third example doesn't say exactly how long it was between the first and second appraisal, but they started in June and the article was written in August. Jacksonville prices were pretty flat last year, according to Zillow. Between June and September, they only went up a few percent.


                          Comment


                          • #28
                            Originally posted by Stoic View Post

                            I think you are saying, "Maybe the values of all the houses in the area increased by 40 to 50 percent over the period of time between the two appraisals."

                            That's a valid point.

                            The first example in the OP was in Indianapolis, and the appraisals took place between March and November of last year. Over that period, Zillow's Home Value Index only went up about 10 percent.

                            The second example doesn't give dates for the appraisals, and I can't find median home prices specifically for Marin City, but there have been no jumps of 50 percent over a few months in Marin County over the last five years, according to Zillow. I think it would have made the news if Marin City home values had gone up 50 percent in a few months.

                            The third example doesn't say exactly how long it was between the first and second appraisal, but they started in June and the article was written in August. Jacksonville prices were pretty flat last year, according to Zillow. Between June and September, they only went up a few percent.

                            The cost of materials to build new houses has skyrocketed and many builders can't complete them, which drives up demand for existing homes and increases their value. Even my property taxes have shot up this year.

                            My homes value has gone up from $189 to $230 in the last year according to zillow.

                            home.jpg

                            Comment


                            • #29
                              It can also depend on whether or not the appraiser likes the homeowner, and one might assume some blacks were given higher appraisals simply because they were black.

                              I know my last appraisal was a little high because the guy liked me. He forgot to measure a bedroom and I reminded him as he was leaving, which he was grateful for, and I brought in a ladder for him to make his job easier. I sincerely believe he added about $20K more to my home value than what I had estimated.

                              Comment


                              • #30
                                Originally posted by Sparko View Post

                                The cost of materials to build new houses has skyrocketed and many builders can't complete them, which drives up demand for existing homes and increases their value. Even my property taxes have shot up this year.

                                My homes value has gone up from $189 to $230 in the last year according to zillow.

                                home.jpg
                                Same with my condo. When I was talking with my brother earlier this month we were discussing home insurance prices and he told me that he had gone online and checked my condo while looking at property values. It was up over 20K from when I looked about a year and a half ago

                                I'm always still in trouble again

                                "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                                "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                                "Of course, human life begins at fertilization that’s not the argument." --Tassman

                                Comment

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