NFHA’s SVP of Public Policy Discusses Groundbreaking Report on Appraisal Bias (ABC11 Raleigh)
An expert said he believes the lack of understanding of how appraisers arrive at a value can lead some to jump to the conclusion of bias.
RALEIGH, N.C. (WTVD) — When LaToya Bogan went to refinance her home this fall she was shocked by its appraised value.
“My mouth was floored. I had to read it and reread it and then reread again,” the Willow Spring homeowner remembered.
The appraisal found Bogan’s home was worth $25,000 more than when she purchased it but she said she believed this was an extreme underestimate. Bogan who works in real estate knew of other similar nearby homes that had been appraised for much higher…