1ºPrissyGirl Roberts I had that happen to me when I went to refinance, because of the pandemic, the bank chose an appraiser who was unfamiliar with the town and area where I lived. My house is in an area where white people live from the corner to my house, black people live from my house to the next corner. My house is the only one that has 8 acres attached to it, making it ore difficult to find equal housing to compare except in white neighborhoods close by. My appraisal was double what it was 4 years ago. The city and county called and came by my house to make sure the appraisal was correct. the bank also sent people to the house. Now I have to pay higher property taxes and higher insurance rates on the new evaluation
2ºCouple questions I have.
Did the loan company or appraiser even know their race?
If so why did they know their race?
Online loan companies use something called a drive by appraisal so there is rarely a face to face interaction with owners.
Was the appraisal for a loan?
If so some of appraisers stop when they get to value for the loan.
I’m a realtor and sold a house in March for $565k. The appraisal came back at value.
My evaluation on thier house put the value at $790k at closing. 
I know racism exist and this may the case of racism.
I think more details are needed to make an informed opinion.
3ºAshley Taylor Again you can’t! That is one thing I do not do is pretend. If you don’t have all the facts then I do not fall into that trap. That is exactly what this article is. I will take a look into it further as I can find out more information as it is given in the article. I have a feeling that it will not be information you would want to hear unfortunately. Time plays a big role in this as if it is 6 months old and then another appraisal was done then that throws everyone’s opinion out the door. But they won’t tell you that!
4ºDifferent appraisers are gonna give different prices lol that's like going to one gas station and 4$ and then 4.50$ at another and suing the high priced one for putting a different price on the same product. Different education levels of the appraisers creates different prices. Appraisal are basically educated guesses of value. U will get different prices everytime u get a different appraisal company an these are facts. Thats why people are picky about who they have give them an appraisal. This could of very easily been manipulated to create a lawsuit. An u could use this same scenario to ur benifit in any kind of narrative.
5ºI love when there are actual statistics shown with multiple examples across multiple states where realtors show Black couples homes outside of the area they request regardless of their budget, get lower pre-approvals even when credit/income is comparable to a similar White couple, and these gross appraisal discrepancies. We've seen these appraisal discrepancies numerous times--- realtors and/or the sellers hire an appraisal company, it comes back surprisingly lower because they use the lowest comps in the general area, then those same homeowners remove all evidence that it's Black owned or swap with White images, and the appraisal goes up.
The crazy thing is that with matter of fact evidence of this, across multiple states, you will still have folks comment -- Why is everything about race?!?, What was the crime rate???
Like, what?!? The crime rate was the same as the white owned house down the block that was comparable but was appraised for a much higher amount.
SOME people need to stop gaslighting the rest of us about these issues that absolutely exist. You look like dummies trying to bird box your way around facts
6ºSteven Champion the higher number does not mean it’s correct. I’m a real estate appraiser. Do you realize how difficult it would be to find comps that specifically are own by someone’s race? It’s not on the comp. We look for the most proximate, most similar homes. There is ZERO benefit to lowballing an appraisal. We get paid the same amount and if we skip over comps an underwriter or review will catch it. The house in question is on a busy street. $50k adjustment seems very excessive. The article states 2% is the industry standard. That shows the writer of the article knows nothing about appraising. They should have hired appraisers to review both. I have seen the comps on the street and for it to be worth $750k it appears it would need way more than the $35k they did. The number is probably somewhere in the middle.
7ºShavonne Black I hear you! I’m just telling you what I know. I i’m not trying to start an argument nor lend an opinion. I’m just saying that people should look at all of the facts before jumping to conclusions. $300,000 higher on appraisal sounds crazy to me as well, hoewever, it also depends on the amount of time that had lapsed since they got another appraisal. In a rapidly changing market like we have been seeing, a few months could make a huge difference in the value of a home. Appraisers can’t use homes that haven’t closed yet so if there were a bunch of Pending properties that hadn’t closed that were selling for a significant amount more the first appraiser would not be able to use them as comps. Another appraiser comes back a couple months later after those pending properties have closed, uses new most recent comps then that could significantly impact the value of that home. 
8ºi still will happily pay more for a home in an all white area. I prefer it. Is "preferring" racist? I mean are we forced to like an not prefer? Coke or Pepsi? no one says "whatever". People have preferences. Am I forced to marry a black? If I marry a white Im racist? Can I prefer a redhead cute over an afro? Why a white area? Because its less likely someone will play loud hip hop or funk music, less likely it will be dangerous for kids to come walking late night and dozens of other reasons. Is that racist? You can protest, pass laws, sue or say the word racism 20 times a day but people will always have preferences.
9ºI'm a former Mortgage L.O. of 13 years and we get a bad rap unfortunately but this doesn't surprise me because bad things are still done in this industry.
I recently bought a two family home in an upper middle-class suburb and I offered the seller 20K under what she wanted and she accepted immediately to my surprise. The inspector gave it a thumbs-up but once I got inside I found out it had a mice infestation in both units and a squirrel infestation in my crawlspace on the third floor. Had he simply done his job correctly I would have offered her 40K less instead of the 20K less and had she said no, I would have walked away. The home is solid but it's a darn money pit. There's always someone playing games that they shouldn't be playing in the home lending industry.
10ºRodney D. Felder I do have the same facts and more, that is why I have a different opinion on those facts. I do have to say that is lazy of you to presume that I have a bias based off keeping race out of my answer? See that's the issue today is this Woke nature, there is no logic in it on only what makes you feel good. I'm sorry to say I will present facts not fiction to a subject that I know very well. If you want to say something different that is up to you but at least know your subject before accusing somebody that you simply do not know. I can say I'm racy but never in my life been called a racist except from this post I only cast doubt on what is not presented as a different conclusion. No where do I say I'm an expert just step back before you start throwing words like that. Don't be part of the problem.