You think appraisers aren't factoring in a blackish scale? That's cute of you.
Then why are black properties still consistently being under appraised, especially in good neighborhoods?
Why are there still some covenant agreements written into mortgages/developments directing who they can sell their property to?
Here's a national story out of Indy. Black homeowner had her house appraised three times. First two she felt was low balled, so she removed all traces of blackish from her home and had her white male friend pose as the owner....and it was appraised for an additional $150,000, over double the first two.
Her comment was, the only thing depreciating my house was me I guess.
Here's the story:
Carlette Duffy is one of those people who was told her home was worth less.
In 2020, she had three appraisals done on her home. For the first two, she listed her race and gender and they came back at $125,000 and $110,000. She decided for the third time, she wouldn't specify race or gender, and she’d have her friend, who is a white man, stand in on her behalf.
"My friend Hank called and talked to them and then they set up times, get told everything," Duffy said. "I then basically removed everything that... was associated with me being black. I removed books, I removed pictures of my family, I removed pictures and artwork from the house. I remove clothing I had, like some African print clothing in my closet. I took that out. The guy came out and looked around the house, and I was not there. I was next door, and it came back at $259,000."
https://www.newsy.com/stories/black-homeowners-get-lower-appraisals-than-white-neighbors/