in , ,

Black Seattle Family Requests White Neighbor Present Their Home To Appraiser; Valuation Then Increased By $259,000

Photo Credit: MoMo Productions

 

A Black Seattle family received a significantly higher appraisal… only after their white neighbor intervened

According to King 5, The Clarks wanted to expand their three-bedroom home and were interested in a home appraisal because it would be useful when considering financing options for the renovations.

“We put in a new kitchen, new bathroom, an extra bathroom. And we have plans to expand the second floor,” said Clark, according to King 5.

Homes In The Area Were Selling For Over $1M

The Clarks were expecting the value of their home to be higher than when they purchased.

ALSO READ:  Forbes Releases Top 10 World's Richest Writers- Any African Author?

Nearby homes were selling for over a $1 million.

“The homes are selling for over a million dollars here,” Clark told 5 King. “We bought this house kind of under — it was under duress.”

“[The appraisal] came in very low, which was really unexpected. [My agent] asked me, ‘How was the appraisal?’ I said, ‘It came in really low.’ ‘Oh, because it was $800,000-$900,000?’ and I’m like, ‘No, no, it was in the sixes,’” Clark explained, according to King 5.

The Clarks decided to try again. This time, they wanted to see if their race played a factor. So, they asked their white neighbor, Marta Eull, to present himself as the homebuyer.

“The objective was to see if you had a person that was not someone of color in the house…if that would change the amount that he got for the appraisal to see if there was some kind of bias there,” said Eull, according to King 5.

The Clarks also took additional measures to wipe away proof that they lived in the home. This included taking down family photos and African art.

Valuation Of Home Soars With Second Appraisal

When it was time for the second appraisal, the value of the home had increased to $929,000. This was $259,000 more in comparison to the first.

“We’re talking a three-week period, and nothing else changed in the house outside of me,” Clark told 5 King.

“I was really happy that it came back and it was better for Joe, but I was mad that they had to go through that to get an appraisal that the rest of the neighborhood was at,” said Eull.

King 5 investigated further to gain clarity on why the appraisals presented different results.

The first appraiser didn’t consider renovations nor did they ask the Clarks about the home or neighborhood. In addition, the appraiser was only at the home for 30 minutes.

In comparison, the second appraisal took more time and they considered the fact that homes in the area were selling for over $1 million.

“Am I surprised by this case? Well, I’ve seen a lot of them. I’ve seen a lot around the country. And I can show systematically that they’re not an anomaly,” said Junia Howell, an urban sociologist and race scholar, according to King 5. “Homes in communities of color are worth 70 percent less, on average, when holding everything else constant as homes in white neighborhoods. It’s really insane.”

“It is something that is going to affect [my children],” Clark explained to King 5. “Because our Black and brown families homes are often devalued. They’re often taken away from us.”

CLICK HERE TO START NOW

Loading...

Written by How Africa News

Leave a Reply

Your email address will not be published. Required fields are marked *

four × 4 =

Black Couple Sells Their 236-Acre Farm in Upstate New York to Developers for $13.7 Million

Black Woman Wins Over $360M From A Racial Discrimination Lawsuit Filed Against FedEx