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Measure the Neighborhood?

George Dell

Editor’s Note: This is Part 6 of the series on Neighborhood. We’re told we should analyze a neighborhood. In previous Analogue Blogs, we have looked at […] The post Measure the Neighborhood? This is mostly a residential concept. Rather than a group of complementary uses.)

Appraisal 195
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The opportunity cost of modern-day redlining

Housing Wire

For example, since home appraisals consider trends in past property values, BIPOC neighborhoods may be considered “risky” due to historic segregation and the cumulative effects of chronic underinvestment. Banks that built most of their branches decades ago may find themselves underrepresented in BIPOC neighborhoods today.

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Park National Bank to pay $9M to settle redlining allegations

Housing Wire

Department of Justice (DOJ) to resolve allegations that it discriminated against Black and Hispanic neighborhoods in the Columbus area. Specifically, the complaint alleges that all of Park National’s branches and mortgage lenders in the Columbus area were concentrated in majority-white neighborhoods.

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Homes in Black neighborhoods undervalued by $46,000

Housing Wire

In analyzing more than 7 million homes sold between 2013 and the beginning of 2021, Redfin found homes in Black neighborhoods are undervalued by an average of $46,000 compared to homes in primarily white neighborhoods, the company said. Only 44% of Black Americans own the home they live in, versus 74.5% of white Americans.

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28,000 Reasons to Have Your Home Measured Before You List It

Cleveland Appraisal Blog

That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. My measurements reflected the home as having less square footage than the county auditor reflected. The homeowner watched me measure their home. I’ve written about this topic in the past.

Appraisal 418
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Two top BHHS teams create one mega team in Las Vegas

Housing Wire

Together, they will boast a total of 42 real estate agents , serving clients across different neighborhoods and price points throughout the Las Vegas Valley. 3 rank in Nevada by that measure. “Working together as one group combines a vast range of industry backgrounds that contribute to expertise in every category of real estate.

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Send Us Your Crazy Appraisal Stories!

Appraisal Buzz

I lowered my window and explained that I’m an appraiser using the sale of his house as a comp for an appraisal of a sale in his neighborhood. A year or so later, I was appraising in the same neighborhood. I told him I still had to take photos of comparable homes in the neighborhood. Well, we want to hear all about it!

Appraisal 413