A black California couple has filed a lawsuit alleging housing discrimination, saying that an appraiser reduced the value of their home by almost $500,000 because of their skin color. The couple – Paul Austin and Tenisha Tate-Austin – said in their complaint that their Marin City home in San Francisco Bay was appraised at just
Low Appraisals No Longer Causing Problems
May 17, 2013 by
Throughout the housing crisis, one of the biggest stumbling blocks faced by real estate agents, buyers and sellers alike has been the appraisal process. Would the appraised value be lower than the agreed sales price, and if so, how much lower would it be? It’s thought that thousands of potential transactions have been derailed due to lower-than-expected appraisals.
