The Problem with Real Estate Appraisals (and What We Can Do About It) + Why It's Not Too Late for Affordable Housing
Plus more musings for Fair Housing Month
Happy Fair Housing Month, Friends!
Before I get into this month’s musings, I can’t wait to see many of you for the various Fair Housing events and conferences you are hosting, both online and in person! Thanks for having me! I truly count it an honor to serve and collaborate with you all year long on this essential topic.
Real Estate Appraisals: Problems and Fixes
It is no secret that appraisals can make or break deals in our industry.
I have shared firsthand accounts from sellers like these.
Plus, I personally have had to "go to bat" for clients where sizable portions and features of their homes were "overlooked" in the initial appraised value. It took weeks of back and forth, escalating to management, to get the value we knew the home seller deserved.
But who has weeks? There has to be a better way.
It’s Not Too Late to Advocate for Affordable Housing
It is no surprise that housing affordability has plummeted. Currently, at best, only about 17% of renters can afford to buy the median-priced home in their communities.
I can hear Captain Obvious exclaiming, “That’s not good!”
Many of us have witnessed firsthand the reach of our client's dollar (and even our own) get shorter and shorter, particularly over the last two years.
Have we reached the point of no return?
Is it simply a "pie in the sky" dream to hope for a resurgence of affordable housing?
Affordable housing is not automatic but with our advocacy, all is not lost and it can be accelerated. Check out this podcast episode to hear:
+ What factors create/impact housing affordability
+ How we can protect our interests as real estate investors/landlords and still advocate for affordability
+ Where we go from here: How REALTOR® associations and realty firms specifically can sway the pendulum towards affordable housing
I believe we have a prime opportunity to turn things around in favor of affordable housing. Check out this eye-opening conversation I had with Dr. Dan Immergluck, author of Red Hot City.
Quiz Your Fair Housing Savviness
This past Tuesday (April 11, 2023), marked exactly 55 years of Federal Fair Housing Laws. Wow!
As I teach across the nation on the necessity of fair housing, sometimes I get asked, “Since we’ve had Fair Housing Laws since the 1960s, is there really still a problem?”
That’s a good question and I never want anyone to feel shame for wondering because in all honesty, 55 years is a long time and it is not unreasonable to hope that the problems of un-fair housing are nonexistent by now.
To better answer this, click the following link and see if you can solve this 1-question quiz I posted. Next, check out the following:
Beyond Fair Housing Month
It is wonderful that April is dedicated to Fair Housing Month but this is absolutely a topic that we must keep top of mind all year long. Ready to get a training class on the books for your group? Please click here to schedule a chat to discuss your needs: http://bit.ly/callwithlee
“Everybody can be great...because anybody can serve.” ― Martin Luther King Jr.
Let’s go be great!
Dr. Lee