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Appraisal bias can happen when a property’s assigned value is influenced by factors that should not impact market value. Those factors can include the homeowner’s race, ethnicity, or their neighborhood demographics. Cases of appraisal bias happen more in communities that have historically experienced discrimination in housing and lending.
A biased home appraisal can affect whether a family is able to buy a home, refinance their home loans, access home equity, and build long-term wealth. However, when a property is undervalued because of bias, the consequences can extend beyond a single transaction. Unfair appraisals can harm entire neighborhoods and communities.
The Home Appraisal Bias Program is addressing appraisal bias and strengthening the appraisal system in Philadelphia. To do this, we work directly with:
We work directly with the WEALTH Collective to help homeowners and homebuyers understand the appraisal process, their rights, and the steps they can take if they have an issue with a past or current appraisal.
We collect and analyze appraisal reports so that we can better understand local trends, disparities, and potential patterns of bias.
We’re developing a coordinated process for residents who believe they experienced an unfair or discriminatory appraisal.
The system will connect residents with the appropriate housing, legal, or government resources. It will also respond to appraisals and appraisers that don’t meet appraisal norms.
We identify policy changes that will improve transparency, consumer protections, appraisal education, and access to the profession.
We’re developing pathways into the appraisal profession. Our goal is to increase the representation of Philadelphia residents and communities that have been historically underrepresented in the industry. To learn more, visit our careers page.
We collaborate with colleges, universities, appraisal professionals, and workforce organizations to create stronger education, training, mentorship, and practical experience opportunities for current and future appraisers.