Oakland’s father’s house valued at $ 150,000 more when passing white friend replaced it after low valuation
Now Another Owner Shares His Story With ABC7 News Race and Culture Reporter Julien glover..
“I face discrimination at work and discrimination elsewhere, but it is very insulting that this is happening in your area,” Saleem Shaheed said.
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Single dad Shahid bought his home near 98th Street and Sunnyside Street in East Auckland in 2019 for $ 430,000.
As soon as he saw the property, he learned that the house would become his, with the help of his two children.
“When my kids saw it, they were like ‘it’s a’,” Shahid said. “My kids made a decision for me.
After moving he knew the house was in need of repair and he was eager to improve his property.
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“We built a new roof, rebuilt the children’s room, rebuilt the stairs and installed a new door with an automatic door opener in front,” Shahid said.
During the pandemic, the value of real estate rose steadily and interest rates fell as he improved his home.
Shahid decided to refinance his mortgage to beat his current rate.
The first expertise ordered at home in November 2020 amounted to $ 575,000 after the filing of a counter-argument calling for a reassessment of the value following the initial report.
However, Shahid was convinced that another lender could find a better rate.
After shopping at a more competitive rate, he received an appraisal of $ 480,000 in January of this year when applying for an FHA loan.
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“It is difficult to prove what the intentions of the other gentlemen were, but even if it was just negligence or incompetence, it was at a level where it had to be something more,” Shahid said. .
The appraiser refused to increase the appraised value, even though Shahid requested a reassessment of the value and filed a complaint with the California Real Estate Appraisers Department.
Early reports incorrectly stated that the house had a bathroom instead of a bathroom and a half, although Shahid advised the expert a few months ago before replacing the roof. “There have been no updates in the past 15 years,” he said.
ABC7 News contacted the expert several times by phone, but did not receive a response.
The email described in the evaluation report has been returned.
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Shahid was able to forge a new reputation for himself by remaining loyal to the lender and applying for a traditional loan.
This time he made a plan. He recalled that ABC7’s coverage of the Austin family in Marine City staged the house to make locals appear white.
ABC7 News interviewed Austin in February to share his story about alleged discrimination in the review process.
The property was valued at an additional $ 493,000 after Austin traded photos and art throughout the house on behalf of a white friend.
“That’s why I want to share my story, because seeing these stories has helped me through the process,” Shaheed said.
A friend of Shahid, a real estate agent, helped him stage his house.
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“You might want to take a photo, or you might want someone to step in and be there during the actual assessment. Everything we know will devalue your home. It’s possible, ”explains Bneeisha Williams.
Shahid then asked his colleague’s daughter of white passage to take her place on the day of the expertise.
“I’m half white and half Asian, but I have as many privileges as a fair-skinned person,” said Jade Le, her colleague’s daughter. “Why can I use my privileges to do something or help others in the community? “
The house was valued at $ 630,000: two appraisals, with a difference of $ 150,000 at intervals of just two months, Shaheed believes it is predominantly racial.
“It hurts for someone to come and stop, and all of a sudden you get a higher value,” he said.
After paying the report, the big difference we noticed is the equivalent house chosen by the expert.
The adjusted average home price for the six compositions listed for the January appraisal is $ 428,000.
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Compare that to the adjusted average home price of $ 625,000 in the April appraisal.
The compositions selected by the January reviewer were worth $ 197,000 less on average.
Equivalent houses in the same report also focused on areas to the north and west of Shahid’s estate.
The April rating house was pulled from all directions: north, east, southwest, and west.
Ten months later, Shaheed is hoping that he can eventually refinance real estate to reduce mortgages and help pay for further improvements.
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He also hopes that joining the list of families sharing stories with ABC7 News will lead to a solution.
“But it’s a shame that so many people are getting together and everyone is getting together. I think that’s the only way for real change to happen, ”Shaheed says.
If you are refinancing and feel your rating is low, you have the right to review the report, then dispute the report and ask the lender to reassess its value.
You can also file a complaint with state and federal agencies if you believe you have been abused by an assessor.
This is the File a Complaint website with the California Real Estate Appraisal Agency.
This is the website File a Complaint with the Ministry of Housing and Town Planning.
You must file a complaint with HUD within one year of the incident.
You must file a proceeding two years after the case.
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