Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black.
If your client is frustrated by a lowball appraisal, even when they've done everything right to get ready for the market, there may be bias at work, Dr. Lee Davenport writes.
"Great leaders aren’t hired; they're developed," the real estate coach said at ICNY 2024, adding that brokerages who don't nurture great agents will lose them.
Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal.
The National Association of Realtors said increasing the nation's inventory is one solution to address homeownership gap. The trade group is eying 3 million net new Black homeowners by 2030.
Where are home prices falling? Let's map out the 253 cities that saw quarterly declines in the final three months of 2022. But there are indications that this isn't a repeat of the 2008 crash.
Clear Capital CEO Duane Andrews issued a statement on Wednesday saying the software company "must now face a market that will represent the greatest challenge yet."
Homes in white neighborhoods are valued twice as high as those in communities of color, even in places with otherwise similar housing stock, according to a study out this week.
"Barbarian" became a runaway hit in October, but the Airbnb-referencing horror flick also raises a thorny issue for agents: What rooms can be listed as part of a property's total square footage?
"The Association was wrong." The trade group says it's taking "bold action" to address the legacy of discrimination that continues to impact access to housing today.
The appraisal is a key component in many real estate contracts, and knowing the pros and cons of contingencies can impact your transaction outcome. Expert Bill Gassett shares his industry knowledge about the basics of what your clients need to know before they sign on the dotted line.
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20 percent down, but nearly 90 percent of VA-backed loans are made to homebuyers who put nothing down.