A stock image shows someone conducting a home appraisal.
A Black family received a low home appraisal on their home in Seattle, Washington.
They asked a white neighbor to present it to appraisers and “whitewashed” their home, King 5 reported.
The second appraisal, presented by a white woman, came in at $259k higher than the original.
A Black family from Seattle, Washington, received a significantly higher home appraisal after “whitewashing” the property and asking a white neighbor to present it for them, local media outlet King 5 reported.
“It is a part of our systematic racism that is here in America, but we need to do something about it,” said Joe Clark, the homeowner, in an interview with King 5. “It’s taking away our generational wealth.”
The Clark family said they bought their home in Seattle’s Columbia City neighborhood for a little under $1m four years ago. Since then, they told King 5 they renovated it by updating the kitchen and a bathroom and adding an extra bathroom.
The family requested a home appraisal when considering financing options to fund their renovations, per King 5, but were shocked by how the value of their home had seemingly dropped significantly to $670,000.
“The appraisal came in very low, which was really unexpected, said the homeowner. “My agent asked me, ‘How was the appraisal?’ I said, ‘It came in really low.’ ‘Oh, because it was $800,000-$900,000?’ and I’m like, ‘No, no, it was in the sixes,'” said Clark, per King 5.
Clark said he was so shocked to have an appraisal that low that he decided to stage an experiment to ensure that the family got “fair market value” for their home, according to King 5. Clark asked his white neighbor Marta Eull to present the home, he told King 5.
“The objective was to see if you had a person that was not someone of color in the house…if that would change the amount that he got for the appraisal to see if there was some kind of bias there,” said Eull, per the local media outlet.
Clark also began “whitewashing” his home, he told King 5, by removing African art and family photos.
The second appraisal came in at $259,000 higher than the original. The house was valued at $929,000, King 5 reported.
“We’re talking a three-week period, and nothing else changed in the house outside of me,” said Clark, per King 5.
“I was really happy that it came back, …read more
Source:: Business Insider