Recent comments in /f/news

El_Grande_Bonero t1_jbq0k3s wrote

Haha ok bud. Just to be clear I said almost a decade. And you are free to doubt but I have run teams that sell over 200 homes a year and have not seen a huge number of appraisals come up that short. One of my best friends is a lender and another close friend owns an AMC. I’ve also been through multiple refinances. And am currently developing an automated appraisal system using machine learning and AI. Explain to me which standard appraisal practices change based on the type of transaction? I’m not doubting that there are bad appraisers, there certainly are, but I’m doubting that it is a common occurrence. It is especially rare to see appraisals lowballed by 33%. I have been involved in transactions where the appraisal came in 10% below what I felt was market rate and that was outrageous 33% is insane.

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MustLoveAllCats t1_jbpz949 wrote

> This is one of those things that actually may not be race based. > > Realtors will tell you that you sometimes get those $&@! Appraisers that will lowball your property regardless of race or anything.

When the numbers show that black and latino-owned homes get lowballed twice as often as white homes, and when the lowball is such an incredibly huge amount, it's pretty safe to say race is probably involved.

Also, it's a pretty safe rule of thumb to never fully trust what a realtor says. They're society's worst people, taking cover behind bad lawyers and politicians.

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