Mary Cummins, Real Estate Appraiser, Real Estate Appraisal, Los Angeles, California, Mary Cummins.

Mary Cummins is a real estate appraiser in Los Angeles, California with 38+ years of experience. Cummins provides real estate appraisals for banks, lenders, mortgage brokers, Appraisal Management Companies (AMCs), lawyers, Courts, factors and private parties for lending, lawsuits, probate, estate planning, divorce and all types of litigation. Cummins provides 1004, 1073, 1025 and other form reports, narrative reports and historical appraisals besides real estate research and appraisal advice.

Showing posts with label real estate appraiser. Show all posts

Wednesday, September 24, 2025

Why Home Appraisal Bias Claims are Falling Apart by AEI, Mary Cummins Real Estate Appraiser

Great article by Tobias Peter of AEI yesterday "Why Home-Appraiser Bias Claims are Falling Apart." It proves that the alleged racial bias by real estate appraisers is false. The false narrative was promoted by the media, Biden Administration and other people with an agenda. Research has proven there is no racial bias in real estate appraisal reports.

"In 2022, numerous mainstream media outlets seized on the experience of married Johns Hopkins professors Nathan Connolly and Shani Mott as clear evidence of systemic racism in the home-appraisal industry. The episode gained national traction after the New York Times published a story in August headlined: “Home Appraised With a Black Owner: $472,000. With a White Owner: $750,000.” ABC and NPR soon amplified the narrative that racial bias in appraisals is real and widespread, locking black Americans out of building home equity and long-term wealth.

What began with great media fanfare, however, ended in silence. When a lawsuit—for which I served as an expert witness for the defense—finally reached judgment last month, a federal court dismissed the discrimination claims. The same outlets that had trumpeted the allegations early on or framed the plaintiffs’ 2024 settlement with the lender as implicit validation of their claims, never returned to cover the case’s conclusion. Their silence leaves the public with a distorted impression of widespread appraiser bias."

So glad Tobias Peter was an expert witness for the defense. These false bias claims have destroyed lives, careers and the appraisal industry reputation.

https://www.city-journal.org/article/home-appraisal-racial-bias-claims

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.

Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin

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Mary Cummins

Mary Cummins of Cummins Real Estate Services has been in real estate since 1983, over 35 years. She is licensed by the Bureau of Real Estate Appraisers. Mary Cummins was an agent and broker licensed with the California Department of Real Estate selling residential income, commercial buildings, raw land and homes for Merrill Lynch Realty in Beverly Hills and Westside Properties in Los Angeles before concentrating on appraisals. Mary Cummins currently provides real estate appraisals, expert witness testimony, historical research, legal real estate research for mortgage brokers, banks, lawyers, factors, insurance companies, financial consultants and private individuals. Mary Cummins was born and raised in Southern California. Cummins attended Beverly Hills Good Shepherd Catholic School and Beverly Hills High School. Besides being on the Dean's list, Mary Cummins was a top ten national swimmer and competed on the men's water polo team. Mary Cummins began college at the age of 15 attending the University of Southern California on scholarship, majoring in Psychology/Sociology. http://www.animaladvocates.us http://www.facebook.com/AnimalAdvocatesUSA

Eastern Columbia Building in Downtown Los Angeles by Mary Cummins Real Estate Appraiser

The Eastern Columbia Building, also known as the Eastern Columbia Lofts, is a thirteen-story Art Deco building designed by Claud Beelman located at 849 S. Broadway in the Broadway Theater District of Downtown Los Angeles. It was built in 1930. In 1957 the business closed and the building became office space for the clothing industry. In 2006 it became 147 live/work lofts.

Units go for $800,000 for one bedrooms to $3,000,000 for larger upper floor units on two floors. I went to the grand opening of the lofts in 2006. There is a rooftop pool and sundeck with a view of the clock. The clock was restored in 2005. Such a beautiful building. I just happened to be walking by this morning and couldn't help but take a few photos of this stunning architecture. Those are blue tiles on the exterior.

From the Los Angeles Conservancy
https://www.laconservancy.org/learn/historic-places/eastern-columbia-lofts/

More photos.

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Mary Cummins

Thursday, September 18, 2025

Appraisal Institute Meeting Visible Value, Invisible Risk in Industrial & Multifamily by Mary Cummins

Appraisal Institute Northwestern Branch Meeting - Visible Value, Invisible Risk on Industrial & Multifamily. September 18, 2025 at Tamayo's restaurant

Notes from the meeting: Juan Huizar sells income properties in Long Beach, California. Rates are up, loans are due and banks want cash to cover equity positions because asset values are down. Many owners are selling their property instead of refinancing because values are down. Today five plus units must cash flow to get a loan. Banks will still allow four or less to not cash flow. There's been about a 19% loss in value over the last five years in five plus units. Many of those properties were heavily improved and rents increased yet values are still down. Landlords can no longer evict tenants for major repairs. Rent control is limiting income. Some buildings with soft first stories will need seismic work. Many are taking the opportunity to turn those parking spots into ADUs. Tariffs on Chinese imports are causing US companies to use warehouses in Mexico to hold the Chinese imports then ship them to the US from Mexico. Tariffs are hurting manufacturing businesses and related property values.

Speakers: Juan Huizar, Gary Martinez

DESCRIPTION: This presentation explores how capital markets are rethinking the value of industrial properties, not just based on leases and rent rolls, but on hidden risks tied to tenant business models, tariffs, insurance costs, political pressure, and supply chain volatility. Through real-world examples and case studies, Gary Martinez, CCIM, SIOR, shares how today’s market is pricing the unseen, and why understanding these invisible risks is critical to understanding true value in 2025. A surprising 17% of all active multifamily properties are now selling for less than they did five years ago—even though many have undergone renovations, rents have increased, and overall asset performance has improved. In this data-driven presentation, we will unpack what’s driving this market correction and why it's creating a rare window of opportunity for investors and appraisers alike.

Juan Huizar, CCIM

BIO: From the rugged terrain of La Victorina in Zacatecas, Mexico, to the thriving business landscape of Long Beach, California, Juan Huizar's journey epitomizes the resilience and determination that define the American Dream. Raised amidst the challenges of a remote village without modern amenities, Huizar's family embarked on a courageous quest for better opportunities in the United States. Enduring the perils of desert crossings, they settled in the fertile Central Valley, where all 10 members toiled in the fields, picking garlic to make ends meet.

Today, Juan Huizar, a Certified Commercial Investment Member (CCIM), stands as a testament to the power of ambition and hard work. With an ingenious video strategy, Juan has elevated himself from relative obscurity to a nationally recognized figure in the real estate industry. His YouTube channel serves as a beacon of knowledge, attracting a remarkable 48% of his leads and drawing attention from esteemed platforms such as CNN, JP Morgan, and Western Real Estate. The CCIM designation underscores Juan’s mastery in financial analysis, market insights, negotiation tactics, and investment strategies.

As the founder and principal of Sage Real Estate, a premier commercial brokerage headquartered in Long Beach, Juan Huizar is at the forefront of innovation and excellence. His firm boasts the highest ratings in the city and ranks among the top 1.5% of boutique brokerages nationwide. Over the past eight years, Juan has personally brokered transactions totaling over $300 million, a testament to his unwavering commitment to client success and satisfaction.

Gary Martinez, SIOR, CCIM

BIO: Gary Martinez is a hardworking commercial real estate broker with 24 years of experience. He has successfully completed over 2,500 transactions, representing investors ranging from Fortune 100 companies to family-owned operations. His expertise includes investment analysis, maximizing cash flow, enhancing commercial property values, and identifying the right opportunities at the right time. While his primary focus is in Southern California, he has completed transactions nationwide.

Gary holds two of the most prestigious designations in commercial real estate—CCIM and SIOR. He is actively involved in the industry, serving as the current President of the SIOR Inland Empire & Orange County Chapter and a multi-time past President of SoCal CCIM. Additionally, he is a CCIM 102 Instructor, teaching Real Estate Market Analysis, and a board member for Cal State Fullerton’s Real Estate Association.

Beyond commercial real estate, Gary is deeply committed to community service. As the Chairman of the Board for The Whole Child, he played a key role in developing and launching The Whole Child’s Interim Housing Program in Santa Fe Springs. This transformative program provides a structured pathway for families to transition from homelessness to homeownership, reinforcing his dedication to creating lasting, positive change in the community.

A few slides.

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Mary Cummins

Tuesday, September 9, 2025

Bureau of Real Estate Appraisers BREA Townhall Meeting September 9, 2025 by Mary Cummins Real Estate Appraiser

I attended the California Bureau of Real Estate Appraisers Town Hall September 9, 2025 online. The main agenda items were as follows: (full agenda below)

*Enhancing Access to Licensure

*California as a Mandatory vs. Non-Mandatory State

*Enforcement Statutes/Regulatory Opportunities

*Enhancing Communication with Stakeholders and Public

First commenters were appraisers. Some were ranting about the profession, economy, costs and difficulty of being an appraiser. Others were looking for supervisors and business opportunities. Some non appraisers commented about personal experiences with appraisers. Some were really far off topic. One guy was just ragging on one appraiser he used years ago. The "beauty" of townhalls.

There were some good commenters, namely appraisers Charles Baker and Jeff Hogan. BREA Chief Angela Jemmott headed the meeting. Shelly of Consumer Affairs was the host. Tinna Morlatt the Deputy Bureau Chief of Enforcement was also there. The panel did not respond to any questions or comments so the meeting was really pointless. It appears it was just to make the public and appraisers feel heard?

There were almost 300 people in the online meeting. It ran from 9:00 am to 11:33 am. #marycummins #realestateappraiser #realestateappraisal #angelajemmott #tinnamorlatt #BREA #bureauofrealestateappraisers

Appraiser extraordinaire Charles Baker

Chief of BREA Angela Jemmott

You can make comments in the survey

Agenda

https://www.brea.ca.gov/pdf/brea_townhall_agenda_9_9_2025.pdf

Full agenda

AGENDA

1. Welcome, Introduction, and Overview of the Purpose

2. Meeting Participation Instructions and Guidelines

3. Enhancing Access to Licensure
a) Strengthening Supervisory pathway
b) Exploring Alternative Pathways
c) Supporting Career Growth

4. California as a Mandatory vs. Non-Mandatory State (disclosure of appraisal fees)
a) Assessing Impacts on the Industry (pros and cons)
b) Sharing Experiences from Both Models c) Prioritizing Valuation Functions for Transitioning to Mandatory

5. Enforcement Statutes/Regulatory Opportunities
a) Enhancing Regulation of Appraisal Management Company (AMCs)
b) Aligning Regulations with Statutory and USPAP Requirements
c) Exploring Enforcement-related Education

6. Enhancing Communication with Stakeholders and Public
a) Improving Existing Communication Tools
b) Exploring Additional Communication Media

7. Comments on Items Not on the Agenda

8. Closing Remarks

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Mary Cummins

Friday, August 29, 2025

Landlord turns Apartment Parking into ADUs in Los Angeles by Mary Cummins Real Estate Appraiser

UPDATE: The tenants are now complaining to the media that their landlord is just "greedy." Tenants have been there ten years with rent control rents. That means while market rent has risen 40% their rent has risen maybe 9% max depending. Assembly bill 1211 states owner doesn't have to provide replace parking when converting parking to ADUs. They do get a $200/month credit for lost parking. Tenants are now refusing to move their cars for construction which was supposed to start weeks ago. This may be grounds for eviction. Then the landlord can get market rent for the units.

Rent control has consequences and it's always negative for tenants and housing. The landlord is turning the parking into ADUs because he has to do seismic on the parking spots. If he's going to spend a million doing the seismic for the parking spots he should turn them into ADUs. He can't increase rent on the parking. Those parking spots will now cost as much as the living area of the building. As it is rent control rents are 30% below market rents. He's probably not breaking even. The landlord isn't "greedy." They're trying to break even. If the government wants to subsidize rent for the public, the government should pay the tenants full market rent to the landlords.

https://www.latimes.com/california/story/2025-09-09/a-koreatown-parking-protest-tenants-say-landlord-is-taking-away-parking-spaces-to-make-way-for-adus

ORIGINAL: Landlord turns apartment parking into ADUs. Landlord will give tenants $200/month credit for loss of parking. 501 S Kingsley Dr, Los Angeles, California. I see 13 under building tuck-in carports. Street parking is difficult in that area. Units are mainly studios so maybe they hope many don't have cars? Permit and plans below state they will turn the 13 carports, laundry room into five ADUs. They offer studios in the building for $1500/month. 13 x $200 is $2600 when they can bring in $7500 more rent. Units will be 18' x 20' or 360 sf with windows only on one side which face the street. Makes sense. I'm amazed city is allowing them to take the tenants parking. Maybe it wasn't part of their leases? Maybe parking isn't part of rent control? Makes sense to rent apartments with parking separately today because of rent control. Landlords' costs and expenses have gone sky high while rent control causes them to lose over 30% of market rent. I've represented small landlords who've had to sell because of rent control. They couldn't break even on buildings with no mortgages. Rent control is the main cause of the current housing crisis. NIMBYs are the second main cause then extreme building requirements and red tape. Almost forgot higher interest rates. #realestateappraiser #losangeles #ADU Link to article first comment.

https://www.nbclosangeles.com/news/local/some-apartment-landlords-in-koreatown-are-replacing-parking-with-adus/3771482/

Permit and plans for the conversion of parking to ADUs.

Ad for the building:

22-unit apartment building located in the heart of Koreatown. Built in 1956, the property consists of (19) studio/one-bathroom units and (3) one-bedroom/one-bathroom units. Rent control rent is 31% below market rent. The 11,274 sf building sits on a 11,210 sf lot that is LAR4 zoned.

https://www.redfin.com/CA/Los-Angeles/501-S-Kingsley-Dr-90020/home/7090075

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Mary Cummins

Sunday, July 27, 2025

Appraisers did not Cause Racial Wealth Gap by Jeremy Bagott, Mary Cummins

I'm so glad Jeremy Baggott wrote an article about this case. He's such a wonderful writer who can so eloquently and effectively put this insane false narrative into words. In this case the black plaintiffs were the racists discriminating against the white appraiser. They defamed the appraiser with false claims of discrimination and racism. Baggot talks about how the lending industry has used this false narrative to subvert mortgage safeguards and make more money. Below are just first few paragraphs.

"FEDERAL BENCH: NO, APPRAISERS DIDN’T CAUSE AMERICA’S RACIAL WEALTH GAP

VENTURA, Calif. (July 25, 2025) – After years of feckless payouts by insurance companies and corporations, the era of using the courts to harass appraisers for their value opinions has ended.

Last week, a U.S. District Court judge in Maryland threw out a discrimination lawsuit on summary judgment. It was brought against an appraiser by a militant professor at Johns Hopkins University and his wife, who passed away since the filing of the suit. She, too, was a professor at Hopkins.

The Maryland appraiser, Shane Lanham, relied partly on crowdfunding to stitch together a successful defense against the spurious allegations. He received an assist by a key ruling in April in which a U.S. District Court judge in Ohio dismissed a similar meritless discrimination lawsuit against an appraiser. Both lawsuits were based on hunches and disparate-impact quackery. The lawsuits were so flawed as to be shocking.

The two dismissals were a blow to the deep-pocketed housing lobby – the Realtors, homebuilders and lenders – and their captured patrons in government. The housing lobby has sought to delegitimize and sideline third-party appraisers for decades. Cheerleading these lawsuits seemed like a new low, even for this bunch. It was a scorched-earth campaign that inflicted severe harm on random individuals for simply doing their jobs. For a subset of academics and agitators, the lawsuits were about providing justification for radical mortgage-lending policies grounded in the tenets of DEI and critical-race theory."

@jbagott Link to full article

https://mailchi.mp/541adc35f58a/federal-bench-no-appraisers-didnt-cause-americas-racial-wealth-gap

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Mary Cummins

Saturday, July 26, 2025

Caution with Google Maps. Main Streets Updated More Often than Side Streets by Mary Cummins

Use caution when using Google maps street view. They rephotograph and update the main streets but not the side streets as often. This property was two units and they just added two more units to the front. I see the two units in one street view but not the other. Had I not decided to move around the street view I wouldn't have seen the new units in front. Check map dates. Main street photo with four units is May 2025. Side street photo with two units is June 2011. 14 years is a big span of time especially in areas that are quickly revitalizing. I like to look at properties on street view before I visit them so I don't have any surprises in terms of additions, size, condition... #GoogleStreetView #marycummins #realestateappraiser #losangeles #california

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Mary Cummins

Wednesday, July 23, 2025

Tour of Intuit Dome with Appraisal Institute Southern California by Mary Cummins Real Estate Appraiser

I took a tour of the Intuit Dome the home of the Los Angeles Clippers basketball today with the Appraisal Institute Southern California chapter. It's a very well designed sports arena, headquarters and training facility. The Intuit Dome opened in August 2024 at a cost of $2 billion. It holds 18,300 people. Architect was AECOM, Engineer was Walter P Moore and contractor was AECOM Hunt Turner NBA JV. The Clippers are owned by Steve Ballmer who built and owns the arena. Ballmer had to buy the Forum in order to buy the land to build the Intuit Dome. Well worth it and a great investment. With Ernesto "Ernie" Lopez, Jason Borras, Monica Alvarez and Ryan Hargrove.

I thought ASA had a tour at the same time. Turns out someone from ASA forwarded the tour info to me from AI.