BIPOC

Black couple home appraisal low balled, believe race was a factor

The first appraisal was $500K lower when the home appeared to be owned by a Black couple.

Published

4 years ago

February 16, 2021

Malcontent News Staff

Five Fast Facts

Paul Austin and Tenisha Tate Austin bought a home in Marin City, California in 2016
They did $400K in renovations and upgrades including adding a second floor and more than 1,000 feet of new living space
An appraiser valued the home after renovations at $989,000, which was below comparable homes in the neighborhood – the Austin’s felt the low appraisal was due to their race
A white friend agreed to be their stand-in during a second appraisal, including replacing family pictures and items in the home
The home appraised for $1,482,000 in the second visit – which can’t be accounted for changes in market conditions between the two appraisals

SAN FRANCISCO (KGO) – In the New Year, systemic racism has continued to force inequity in home ownership rates across the Bay Area, and Black families who are in a position to purchase a home often face discrimination.

It is no secret that home ownership is a proven pathway to building wealth in the United States. But in a competitive housing market with some of the most expensive homes in the country, it is tough for Black Bay Area residents to buy a home to start the process.

Keep reading at ABC 7

When you become a subscriber, you help us stay independent and paid advertiser free.

A free press is a Constitutional right, but it doesn’t come free. Our core missions are showing you an unfiltered view of the before, during, and after, defend the First Amendment, and amplify BIPOC and LGBTQIA+ voices in an advertisement free experience.

For as little as $5 a month, you can support Malcontent News. Becoming a Patreon will help cover technology, data, bandwidth, and travel costs. Patreons get early access to content and a Discord server, virtual meetings with the staff, and private Zoom meetings. Subscribe NOW!

A one-time Venmo donation can help with safety gear, equipment, or a small thank you to show your appreciation for what Malcontent News provides. No amount is too small, even $5 goes a long way. Venmo NOW!