A black California couple is suing a real estate agency after a 50% increase in the value of a home when a white friend pretends to be the owner.
Paul, 45, and Tenisha Tate Austin, 42, a black man from Marine City near San Francisco, bought for $ 550,000 in 2016, and the value of the house in January was $ 989,000.
The following month, after a second assessment from another lender, they were shocked that the value of the house had increased by another $ 500,000. The couple believe that they “whitened” the house with all the signs of the owner’s identity and asked a white friend to pretend to be Tenisha for a second viewing as the reason for the surge in value.
They are currently inconsistent and fair with two valuations received against appraiser Janet Miller, her company Miller and Perotti real estate appraiser, and national appraisal company AMC Links, LLC. I filed a housing lawsuit.
The proceedings allege that the AMC was tasked with handling the couple’s valuation and was behind the second valuation, when prices rose dramatically.
Paul, 45, and Tenisha Tate Austin, 45, say they believe race is the reason their homes in Marin City, Bay Area, are undervalued by realtors.
The couple are currently suing appraiser Janet Miller (pictured). Her company, Miller and Perotti Real Estate Applaiser, have filed a proceeding over the low-ball numbers the couple first received.
Paul and Tenisha’s couple coded something like “Marine City is another region” when assessing real estate that they believe the realtor is an elderly Caucasian woman (Miller) in January. It is said that the phrase was used.
The couple complained to the lender, who described them as “slap their faces,” before the two were finally approved for the second appraisal.
This time, they decided to conduct an experiment to see if the suspicion was correct and have a white friend pretend to be the owner.
They hid photos and artwork and replaced them with photos of their friends.
“We had a conversation with one of our white friends, and she said,’No problem. I’ll be Tenisha. I’ll bring some pictures of my family. She’s owning our house. It looked like a thing.
“If our home is rated 50% lower, it will affect our ability to generate wealth and take over things for generations,” Tenisha added.
The couple undertook a major $ 400,000 refurbishment in the five years since they bought the home, including brand new floors, fireplaces, new appliances, and outdoor decks that added 1,000 square feet of space.
The couple bought a house for about $ 890,000 in 2016, and despite spending $ 400,000 on a home remodeling, it was worth only $ 995,000.
The couple have undergone major renovations in the five years since they bought the home, including brand new floors, fireplaces, new appliances, and outdoor decks that add 1,000 square feet of space.
Paul believes the low numbers are the result of their skin color and they are currently suing the real estate company that gave them their first rating.
But when it came to listing the property, they noticed that it increased by just 10 percent in the value of the home.
Paul believed that the low numbers were the result of their skin color.
“I read the appraisal, I saw the number I liked,” this is incredible, “wife Tenisha told ABC7.
The couple alleges racial prejudice and seeks a jury trial and monetary damages.
“We did our homework,” Austin told the Compensation Task Force in a panel on the racial wealth gap in October, as reported by the San Francisco Chronicle.
Later, the couple had a white friend’s post as the owner, hiding the photos and artwork and replacing them with the friend’s photos.
After the second evaluation, they were shocked that the value of the house increased by another $ 500,000.
The couple alleges racial prejudice against home valuation and seeks jury and financial damages
“We were in a black neighborhood and the house belonged to a black family, so I believe a white woman wanted to devaluate our property,” the couple says.
When the couple’s white friend, Yang, took the picture, pretending to be the owner of their house, its value rose to $ 1,482,000-almost $ 500,000 more.
“We were in a black neighborhood and the house belonged to a black family, so we believe that white women wanted to devaluate our property.
“The only thing we experienced made my stomach hurt and my head hurt,” Austin said. “I don’t want it to anyone.
‘I want to see the change. I don’t want to see my kids have to deal with this, “he added.
Marine City, where Austin lives, has historically been a black community.
“There is certainly something unique and strong about this complaint,” the couple’s lawyer, Julia Howard Gibbon, told Chronicles. “They essentially erased themselves from the house.”
Austin’s lawyer said: “Marine City has a long history of underestimation based on stereotypes, redlining, discriminatory criteria, and actual or recognized racial demographics.”
Jessica Lautz, vice president of demographics and behavioral insights at the National Association of Real Estate Agents, said the couple’s case is not uncommon.
“We know that discrimination is in almost every aspect of the home buying process,” she said. “We need to work on it as an industry.”
According to real estate firm Redfin, there are far fewer black homes nationwide, with only 44% of black Americans owning homes in 2020, while 74% are white Americans.
According to the National Association of Real Estate Agents, only 34 percent of black Californians own a home in California.
The black couple “erased themselves” from the value of the house, so it rose nearly $ 500,000.
Source link The black couple “erased themselves” from the value of the house, so it rose nearly $ 500,000.