It's also stupidity to think people of color dont have common sense. I had to fire a realtor because they insisted in showing us house's with formats I firmly advised I did not want! Still they kept taking us out of the school district we wanted and houses with room additions in the attic??? Finally I had enough. Stand your ground and do your research.
@@johngenericlastname9781 🤣😅🤣🤣 I guess our old realtor figured if she put on short skirts n boots I would not really pay attention to the house she was showing us? My wife was not amused?🤪.....maybe our mortgage broker should have told her I work in the industry with portfolios and property recovery to reo's?
@@billybob6469 omg give it a rest. Neither the Vice President or Obama are FULLY BLACK and that has nothing to do with this video! U are apart of the problem, always deflecting.
@@EmpressBre what about the fact they were able to buy the home only because they were black. Why doesn’t anyone mention that? And oh now Obama ain’t black enough for you wow lol do you want to see a pure black blooded man in the office before your satisfied? Wow
@@EmpressBre it ain’t about black and white it’s about poor vs rich. The rich especially generational wealthy have all the connections which is why their kids have it easier. That combined with the areas they grow up in and they’re are dealt better hands in life. Which is why you see poor communities of every race black white asian Mexicans it don’t matter it’s about the money.
So, what happened with the appraiser? Most people can’t be 1/2 a mil off in their job and not expect some sort of repercussion. At the very least they should review her other appraisals to confirm she hasn’t done this to other POC’s or other individuals she may not agree with like single mothers or the LGBTQ community. Glad they got the home reappraised - looks like they put a lot of work into it, they deserve to benefit from their investment just like any other home owner would.
@@VestRSU in OC here, the appraisal doesn’t matter. There’s too much demand so the houses always sell for much higher than the asking price. I don’t think it’s a race issue. It’s the location and the demand of where people want to live. If you’re in an area that has security, near freeways, good shopping/restaurants, the demand will be higher and there will be more competition. The investments you make in renovations don’t necessarily always raise your home value if it’s done in a bad neighborhood.
@@VestRSU Zillow/Redfin are notoriously inaccurate. The $100k isnt too far off if the average home in the bay is $1.1M. This woman seemed to be significantly wrong such that she either cant do her job or it was someone else. What I will also say is that this is NOT the first time a story has come out like this.
I've had a similar experience. I once went to Platos Closet to sell my sons baby clothes and before I took them I went through them to separate and wash the clothes. I took them inside the store and the employee opened the box and took a few shirts out and stopped going through them and said I don't think this will be a good fit for our store. I was confused because Platos Closet is a more stylish version of the Salvation Army. So of course my intial emotion was anger but then I remembered my cousins long time girlfriend was white. So I called her and asked her to meet me at the store. She said she would in an hour. So after she took the clothes in and the same employee took them with so much gratitude she gave her upsale prices because as she said there were some "nice pieces" that she know that she could sell right away 😂🙄. After she gave her the money and my tax deduction receipt I went in and asked her to explain herself and she couldn't. That was when I was younger though. I'm done explaining to white people about what's wrong with obviously wrong shit. I know this ain't the same as being cheated out of 500k but it just made me think of that story.
Really, that's an even bigger issue...as a black women I completely understand what you went through. I'm overly tired of explaining why things like this happen.
@@Kikinahm Exactly, because at this point you don't want to know and you're wasting your time trying to explain. While their just continuing to put up that smoke screen pretending to be confused.
Damn now you have me thinking. I too went to those consignment stores to sell my babies old stylish clothes and I received the same reaction. Dang. I should’ve sent my white friend in there too! 🤔
@@VaL-ln3im Yes and that's just a surface scenario. It goes deep. So the rage is warranted. Black people just need to be very aware and move accordingly.
I am with you. I am so tired of trying to explain this mess to people who have yet to experience it. They are in denial because we have had a Black president like that makes all forms of racism nonexistent. That's awful that happened to you.
@@UnknownArchive damn my job is in Houston and San Jose so I was considering the change. I still want to visit I'll check out some surrounding areas too.
Not a good move brother. Cali is not a place for black people to thrive. Why in the world would you want to leave Houston? Btw I’m from Cali and never looking back.
I have a rant. The people in the comments saying “it’s not racism” are people who could never experience racism in this country the way black people do. You could not even imagine what it feels like. If you watch this video and others like it, read the studies, talk to black people and actually try to understand, it will be obvious what’s happening. But if you’re not willing to open your own eyes to the truth of what is and has been happening here to us, just stop. All I’m seeing in these negative comments are racist people mad that racism is on display. The worst thing you could call them is racist, so they’ll try to smooth talk racism into a “misunderstanding.” Instead of trying to cure themselves of their own racial illnesses, these people will say racism against black people doesn’t exist at all in any form. Just so that what they feel couldn’t possibly be categorized as racism against black people, but some justified dislike for people who deserve to be disliked.
They know it's true. They just like to pretend and gaslight us. Just like before Trump got all the racist to show their true colors. They all used to say racism doesn't exist in America.
👏🏾 They refuse to own their racism and racist history. They deny facts, studies, and statistics. I prefer racists the way I prefer charges and fees... uncovered and out in the open.
"If you watch this video and others like it, read the studies, talk to black people and actually try to understand, it will be obvious what’s happening". What does the appraiser stand to gain by intentionally low-balling the appraisal? There is no profit motive (she only stands to possibly lose a client), and if she is "an old white woman", she has surely been around the industry long enough to realize her appraisal is not the final word (another can be ordered if it is deemed to contain error by omission or commission or is any way biased)...again, consider why an independent appraiser would intentionally perform work that could destroy their own livelihood. So many have gone completely off the rails here, I guarantee NONE of you have read the reports, can make sense of the reports (the lawyers can't, because I read the lawsuit!), knows how to analyze sales data, knows how many "pole houses" are in each Sales Comparison Grid, nor have you read the actual lawsuit. The outrage here isn't racism, it's hw gullible and ignorant the Woke Mob is.
@@bonitaapplebum0088 watch the video again it says they kept getting outbid but the previous homeowners who were black wanted to sell to a black family. If you replaced black with white and said that same sentence a lot of people would be singing a different tune. Selling to someone based on race over another is racist!! And discrimination!!
@@billybob6469 so in your mind, private citizens can't sell things to people they want to because it's discrimination? Every race of people sells homes off market to people they know.
@@UnknownArchive So enlighten us. What should be the repercussions for the agent's incompetence? What's to stop her from continuing to appraise properties at 50% below value?
So, financial assistance for future homebuyers but no investigations or prosecutions for people or businesses who engage in such blatantly discriminatory practices??? That makes sense.
If the reporters would actually investigate, bet they will find that the appraiser has done this before and either they or someone they know picked up property for a bargain. That is what needs to be checked out.
Let's get the real facts. They only paid $550k for the house. Everyone knows you don't get out what you put into the improvements. What was the quality of the "finished" lower level? Home value is all about Location, Location , Location. This house sits in the middle of a large multi-family dominated neighborhood. Sits next to commercial properties and does not have a bay view.
I was wondering how much they paid. I had a feeling they got a deal when they said off market sale and plus the house needed a lot of work. The inside of the house had nice upgrades, but the outside did not have much curb appeal.
As noted they bought it from a family who was restrictive on what races they preferred to sell to. It is always the lower appraiser that is wrong, and not just wrong, it must be racist. /sarc. I think the highest priced home sold for like 1.15 Million in Marin City where this is located when the other appraiser appraised it for 1.482 Million. Politicians pander because people don't care about the facts.
@@bonitaapplebum0088 so having photos in your home lowers the value? That’s interesting because the white lash in this story put up photos of herself and got a higher price.
@@190roverk That there is a multi decade long court and media documented history of racial disparity and inequity in residential real estate markets across this country. I know facts may be hard for you to comprehend lol
@@twyatt8381 the point is that real estate appraisal can vary widely. It sounded like they had help staging the house for the second appraisal. Small things can help and a different opinion.
@@johngenericlastname9781 the bank assigns the appraiser. Greed has nothing to do with it. This is a capitalistic society that we live in and they have every right to gain as much as they can on their property! You need to learn and understand this process before you make silly comments!
I wish the name of the appraisal company and the woman who performed the appraisal were shared. They don't deserve anonymity. This company needs to face consequences for clearly discriminating against a PROTECTED class in the United States.
@Nic Rellek even still an individual does not mean the system is set up that way. Plenty of rich and successful blacks are proof everyone has a chance. Not everyone is dealt equal hands in life though. Which is why some attain success much easier. But that is a rich vs poor thing not really race as it happens to Mexicans Asians and even white too.
I own an appraisal company and appraise in Oakland every week. Racial bias is not normal in our line of work. There may have been questions about the legality of the new space they built or about the location. It's hard to know what happened without seeing the report. I hope that the first appraiser was not being biased. That's just wrong.
no offense to you but I hope they get rid of you guys. I'm an investor and the discrepancies is the appraisals for my properties have been absurd. even the square footages had discrepancies which is not an opinion. one of only fair ones I had was a computerized one, which I pray they will implement in the future avoiding these situations
Why isn't the name of the appraiser noted in this story? That would be extremely helpful so we know who NOT to give our business to. This needs to be investigated so others don't have to suffer such a devastating loss!
@@nayeblackz If it is true discrimination, what has the Democrat State of California done as a consequence to this appraiser? Also, the tax assessment of this property is the same as the first appraiser's value! Do you think the CA tax assessor is also racist? We need to have the CA IRS investigated for racism as well!
I’m from Arkansas grew up in Dallas. Visited San Francisco with me and a friend we experienced a lot more than weird “what’re you doing over here” looks than we ever have in the SOUTH. Those Californians are very odd…
Appraisers use comps of recently sold properties within the last 90, 60 and 30 days in active resale markets. Sqft variations can not be more than +/- 15%. Room count can be +/- 1 with adjustments. Let's have a look at the comps between both appeasers and have them explain how and why they used those comps and how they came to their valuation. You can do all the exterior ipgrades you want and it have very little value. Valuations are based on replacement value. If the house burned down tomorrow, what would it cost per sqft to rebuild it in todays market.
These comments are wild. Best of luck to them because us Bay Area residents know how Marin can be... The comments are a nice sneak peek 🤣 Y'all mad, mad.
@@mof5490 - lol @ cry racism. You types cry about communism and socialism, which have never been factors in America and never will be, but racism, which has been at the heart of America since its inception, should be ignored apparently. You’re too weak to stand for justice and equity in America. U need ur unearned advantage to feel good about yourself.
Same here in las Vegas there was a house for sale last month so I called the number on their board and the white lady told us it's $500,000. But someone check the real price it was $250,000. The house is 50years old or over 50 years
Why didn't I think of doing this when my home was devalued. We all have to start dragging these racist people into the racist injustice system anyway. Sue, anyway. 👫😡 This is happening all over America.
That black couple did a very clever thing by asking their white friend to step in. That's exactly what I would have done. Also, black owned businesses would probably do better if they don't announce that it's black owned .... It's tragic, but people, we've got to start using our 'Smarts' if we want to get ahead. Just keep it legal! 😞
Any proof that the 2nd appraisal wouldnt have been the same if the black family stayed?. To me it sounds like the first appraisal company tried to rob them for as much as they could while the 2nd didnt. Can we assume thats racism? Hey look, if i try to sell a ring to a person and they offer me 10 dollars and then the second person offers me 20 dollars. Does race really play any role in any of that? Shouldnt these questions be asked? and shouldnt you get more than 1 or 2 appraisals? i would get about 10 done and sell to the highest offer. Isnt that trade? isnt that capitalism? Unless you want communism with a flat set price by the goverment?
There's a history of these practices and also many studies that have adequate control parameters that still prove the appraisal disparities. You can look this uo
@@babyblue797 Nope. It actually is. So shut up because you won’t ever walk a day in my shoes. Don’t speak on issues that you can’t relate to. What a ignorant piece of shit
it proves nothing. the free market determines what a house is worth. low home owner rates could be a number of factors. poor credit, number of children in the house, outstanding debt are just a few factors that go into housing availability.
It's not uncommon for appraisals to be VASTLY different. Not ruling out foul play, just saying there's possibly more to the story. Home values can increase/decrease, some appraisers get paid more for inflated evaluations, some appraisers are less experienced/lazy. Just looking at it objectively
I think the highest sale in Marin City where they are located sold around 1.15 Mil when the appraiser for 1.482 Mil was completed. This should at least give people some pause when rushing to judgement, if they are not hypocrites at least.
@@hoodatheist5549 no you don't. You never have to interact with someone to respect them or their space. You dont even have to like someone to be respectful. Don't confuse dignity and respect with kissing ass.
@@bonitaapplebum0088 says a person that is a bitch and don't know nothing about life telling a og in life how it goes. When I was running around outside eing respected you didn't even exist. Qhen I did 10yrs in prison you didn't exist save that shit for someone else Bitch.
I am under contract for a new home. I regret telling the lender my race, when asked. I should have elected not to disclose this information. The entire transaction was done online. He explained that the government likes to keep track of the data, to ensure that there is no unfair lending practices. I love being Black, but I know that when you are Black and have pristine credit (like I do), they will play games and still try to give you a higher interest rate, than if you were non Black. I have asked that the lender remove my race from my application!
Great piece, I’m glad you also talk about mortgage also of a person of color Hispanic we pay more on mortgages. It’s a issue that I know needs to change
Fired for doing a good job? Looks like you don't know the market there. Its like firing a doctor for diagnosing you with cancer because you don;t want to hear it.
Its more than racism. Its called greed. Realtors probably low balling and giving friends and or investors the heads up on a profit making opportunity. Ive seen 1st hand a so called realtor "friend" shown a house for sale to get their opinion then that realtor turning around and the husband buying the house, doing renovations and then the realtor "friend" becoming the realtor broker selling the house with her dam picture on the for sale sign. True as all could be. I was a witness and nothing was done about it.
As an appraiser and reviewer with 31+ years experience in SoCal, allegations of bias at the hands of real estate appraisers pains me. I've appraised hundreds of properties in "minority" owned neighborhoods in South Los Angeles, many of which have seen the greatest increase in property values in the past ten years. As is the case in virtually every neighborhood, this is a double-edge sword - as equity builds for existing homeowners, potential buyers are getting priced out. The published cases appear to be for exclusively refinance transactions. In the case of a purchase transaction, the "price" has already been negotiated between the parties, so "bias" on the part of an appraiser is a non-issue. Moreover, in a purchase transaction the appraiser rarely sees the buyer or the seller and likely has no idea of the race of either party. It is also common knowledge among real estate agents that it is advisable to take down personal photos for a listing. I'm not suggesting photos be taken down for a refinance appraisal but perhaps if it would help eliminate the potential for bias, perhaps it's a good idea. If I happen to take an interior picture with a photo on the wall, I always blur it out. Bottom line, I would urge any victim of alleged racism by an appraiser to provide all appraisal reports to an investigative body for thorough review. If there's bias it will be evident in the data. The Appraisal Institute has been attempting to obtain copies of the reports in question but have been rebuffed. This is not helpful to a thorough vetting of the problem. The need for boots on the ground appraisers isn't going away, so let's work together and find solutions.
Yeah, OK, sounds like you’re justifying the racism in my skim of your thesis. And many people have removed photos, which suggests their is deep-seeded racism that one would need to do that.
In my opinion you need to be able to prove that you were discriminated against and not just take someone's word for it when they say they're discriminated. against cuz a lot of people lie and say that there discriminated against just to get suff handed to them and just to get people to feel sorry for them. so in my opinion if your discriminated against you need to have some kind of proof of that.
My question is why are they trying to make this about race because I'm white and I've been through the same thing as them I'm a white guy and I know exactly what these guys are going through I can relate to them so this has to do with race I want some kind of proof because if a white person were to claim that they were cheated out of probably cuz they're white you would call that bulshit so I want some kind of proof the only reason I'm saying that is because I'm white and I've been through the same thing as them.
People will say anything before they will say it’s racist lol I read a comment that said maybe they made improvements without permits & that’s why the house value went up $500k lmaoooo u can’t make illegal improvements & then count those improvements toward the value of your house 🤦🏾♂️ U can’t redo ur basement without permits & then try to get ur house appraised higher for said illegal basement lol that’s not how it works u fool
Who said the improvements were illegal ? You can"t do that amount of massive work without permits. The City or county would stop you in your tracks before you were anywhere near completing it !
Thank you for reporting this blatant disparity in the appraisal, buying and selling in every aspect of the real estate arena. Watch the CBS This Morning Show's report of Feb. 19, 2021 on the decades of redlining in the planned suburbs of Lyndhurst, New Jersey. The federal government (FHA) actually planned and supported American Blacks from buying in Lyndhurst for decades; yes decades.
Keep the house and the lower appraisal and pay lower taxes. They already said offers get outbid on the market so it would likely sell above market value regardless of how it’s appraised.
Has this home sold for $1.5M? Until it does I don't think accusing the first appraiser of racial bias has any validity. What are similar homes in the area selling for? The added space underneath may not be integrated well with the original structure so there might be some downgrade even though they increased the floor space. It definitely lacks curb appeal but a phone booth is worth $550k in CA. They might list it at $1.5M and still only get 2/3 in offers.
They weren’t trying to sell the house they wanted to borrow money off of it and you have to have an honest appraisal to get your money’s worth. So you actually think it’s worth the same price as it was before they remodeled. Did you see the before pic smh
@@jamesball8519 did you study this house smh it's a double wide on stilts. That splice job bottom floor I doubt it's integrated with the top. Staircase somewhere? No garage. Single wide drive. Kitchen looks like nothing. Terrible lot. No Bay view. 1M was being fair.
They still didn’t definitively prove it was racially motivated because they used a totally different appraiser when they utilized their white friend so how could they prove the original appraiser was racially motivated or not? And was the new appraiser white too? Notice they didn’t mention that in the segment. Weird stuff happens all the time in real estate. In specific cases I’m sure there are racially motivated low ball moves like this, maybe this was one of them but again it hasn’t been legitimately proven. A family member of mine was screwed over by the realtor and the appraiser and they sold their house way under its value and come to find out the appraiser and realtor were related and the realtor’s daughter bought the house for below market value. Total scam and it happens often.
When I was in college, I got a C- on an essay that I know should have gotten an A. I'm convinced to this day that the low grade was because I'm white and teacher was hispanic.
It's possible but very doubtful because Hispanics more than not favor White people. I think it should be noted that they also see themselves/identity as White with many flat out being White so idk what to tell you.
I got A's in both of my English composition classes. The essay that I got a C- on was just as good or better than all the essays that I got A's on in my English composition classes. I know why I got the C-. It's no mystery.
You really should think about that statement. Is there any evidence at all that countries DON’T evolve? Because every society has issues. And if you would look at Hans Rosling’s work with visualizing human progress, you’d see most countries are making significant progress. There are also no “issue-free” societies with which to compare. And starting a country over again, as happened with Russia and China, resulted in millions dead. And still have abuses of the population.
The headline saying SYSTEMIC RACISM DID THIS is a bit misleading. After all, how much do these people expect a property contaminated by weekly crack parties to be worth? I think a generous offer of ten dollars would be all they should hope for.
You gotta understand, the more they see us shine, the more they despise us. Don't make the mistake of assuming they'll love you just because you have a nice degree or you can afford to live in an an upscale area.
Getting somebody White to represent them was really smart🤓I thought the couple had come across the racially restrictive Covenants & were told they had to be White to qualify for a Mortgage, but I guess I stand corrected🔥💯♍💎😷😎
My friend tried to sell his house in a predominantly white neighborhood. Realtor told him he needed to "stage" his house . Told him to remove all family pictures and cultural types of decorations.
On the face, this story does seem to point to a racial bias. I wish the journalist investigated the other point of view. Appraisals are very formulaic and many objective factors affect the value. A basement level storey is 1/4 the value of an above ground storey in my area. Was that a factor? Pole construction may not be permitted under current building codes....is that a factor? Many more questions the journalist could have asked! Maybe the disparity in value was not racial. Let's thoughtfully work together to end racism.
Read another article on this page about a black woman getting two low appraisals. She got the husband of one of her friends, a white guy to stand in for her during a third appraisal. It doubled. (Black homeowner launches legal fight after property value doubled when she used white man as a stand in for estimate)
@@billybob6469 thank you billy bob but the person sold it to them which they have the right to do. You can sell your house to anyone. What does that have to do with the appraiser lowballing them because they were black. They did not get a discount they paid market value. So all you got from that is that they bought the house from another black family who chose to sell it to them at fair market value instead of selling to a none black family? I appreciate your input but your comment sounds about white(right). You are agreeing with them losing the $500k for being black.😂👎🏽
@@jayyoung778 no buddy your not understanding rewatch the video it says they kept getting outbid but got that house from another black couple who wanted to sell to another black couple. So what about the bids from whites or Hispanics? They were not considered because they were looking to sell to blacks. If that was something that happened regarding whites you’d be singing another tune. I can say the same thing the apparatuses can say they think the hose is worth x amount of money they have every right to do so what’s racist about that?
Where is she now? You can’t say the 2nd appraisal came in higher just because they it looked white owned. The 2nd appraisal could have came in the same with or without the change. It’s the 1st individual that’s the problem. The 1st appraiser should be fired.
Young people these days largely lack intelligence and can't even remember the simple Scientific Method, and the steps required to perform credible experiments. Sigh
@@lu881 no it wasn't, a different person giving a different price is not proof of racism. Grow a brain. And the fact that their first instinct was to call it racism is suspicious.
