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. Show all posts

Wednesday, August 2, 2023

Appraisers Can't Use Demographic Census Tract Data Yet Government Uses it to Attack Appraisers by David Towne

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Another great article by real estate appraisal expert Dave Towne cited below. He states what many have noted since the government started mentioning census tracts and appraisal values. Appraisers can't and don't use census tract report data in selecting comparables or valuing properties. We are not allowed to consider personal demographics. We can only consider properties in a market area similar to the subject property. Neighborhoods, market areas do not correlate with census tracts! Census tracts were made by the government to gather personal demographics of the inhabitants in specific tiny areas to compare changes over time. They are a more recent artificial constructs of government which have nothing to do with determining appraisal values.

The first census tracts in the US were made in 1906 in New York. In 1934 they were standardized and expanded to a few major cities. "The goal of the criteria has remained unchanged; that is, to assure comparability and data reliability through the standardization of the population thresholds for census tracts, as well as requiring that their boundaries follow specific types of geographic features that do not change frequently. The Census Bureau began publishing census tract data as part of its standard tabulations beginning with the 1940 Census."

For all we know the original tracts may have included some type of "redlining" based on race, nation of origin, primary language spoken, income levels... The "redlining" may have just been a correlation of less wealthy people living near the railroad tracks, polluted industrial areas and wealthier people living near the city center or a beautiful lake. Income, wealth correlate with race but race is not the cause.

The 1934 tracts have not changed but neighborhood boundaries, home values and real estate have definitely changed. Sometimes even the physical boundaries have changed with new freeways, aqueducts, dams, large government projects, dedicated parks, removal of train tracks... These areas also change as different areas go through the real estate cycles of growth, stabilization, decline and revitalization. Home values go up and down. Different people move in and out.

Appraisers use market areas sometimes called neighborhoods to selected comparables to value a subject property. WE DO NOT USE CENSUS TRACTS! The census tract number is auto-filled by a software program in the report. That's the only mention and use of census tracts. The government is the one who requested that data for their own loan use which is why it's in the form. Now they are misusing it to mischaracterize appraisers as alleged "racists" who "lowball" blacks and Latinos. Independent research by AEI has proven that race is not a factor in appraisal values. Whites make more money than Latinos and Blacks. If you make more money, you have more money and wealth. If you have more money, you will buy a more expensive home in a more expensive area. The main value of real estate is LOCATION, LOCATION, LOCATION.

When we search for comparables for a subject property some use a half mile radius from subject. Some go one mile. In rural areas they go a few miles. For a high density condo area you might just use 1/4 mile radius. Some appraisers use known neighborhood boundaries which could be two streets, railroad crossing, major boulevard, freeway or the ocean. It depends upon the subject property. If I were appraising a home in the N 600 block in the flats of Beverly Hills, I would search N 500-700 then probably go two blocks east and west of the subject for starters. If I needed to go wider, I'd only go east or west and not north or south. North is much more expensive because they are larger estates. South is much smaller tract homes on much smaller lots. I don't look at or search census tracts. I'd have to figure out how to do that if my MLS could even do that. In fact this census tract of Beverly Hills is the first one I've ever looked at in my life just now. There are ten census tract maps in the map below.

Below is the census map which includes Beverly Hills, zoning map of Beverly Hills and zip code map. They're all different. I'm using this because I grew up here and know all the different market areas very well. Some of the areas in the census maps are commercial only and worth trillions of dollars. People don't live in those areas. They are stores, offices, medical centers in the golden triangle. Some of the areas in the census map are Beverly Hills and some are the city of Los Angeles. Beverly Hills property is easily worth twice Los Angeles property even if it's just across the street for many reasons yet they're in the same census tract.

There's a thick line running down the middle of two census tracts. That's Sunset Blvd. Properties north of Sunset are worth 2-3x as much as properties south of Sunset. I could go on and on. The purpose is to show you that census tracts have nothing to do with real estate appraisal values. Three homes in the same tract could easily be worth $300,000 (small studio condo in Los Angeles), $2,000,000 small tract house south of the long gone rail road tracts on Santa Monica Blvd or $50,000,000 home above Sunset. Census tracts don't correlate with value. They should only be used to talk about people.

I think the problem with census tracts and home values first started with fraud Andre Perry. He used Zillow Zestimate home values in different census tracts and compared them with the predominant race of people in the census tract area. His goal, agenda was to show that black owned homes are worth less than white owned home due to "old white racist male" appraisers intentionally low balling black people. No appraiser appraised any homes in his paper. He used only inaccurate Zillow values. He also just used the majority percentage of blacks in each area. He then cherry picked and twisted the results to fit his agenda. The results of his fraudulent study showed that whites make and have more money than blacks, latinos. Whites can afford to buy more expensive homes in more expensive areas. We've known about the income and wealth gap for years. It's caused by income and socioeconomic factors but not race or real estate appraisers. AEI research which disproves Andre Perry's fraudulent paper.

Census map of Beverly Hills. Ten maps which include Century City, Sherman Oaks and Los Angeles cities.

Map of the city of Beverly Hills broken up by zip codes just so you can see the outline of the city.

Below is Dave Towne's article. I asked his permission to share it. I'd link to it but he posts it in an appraisal group which is not public.

"Not to gloat, but I seem to be the only appraiser in the US who has observed and reported how people-oriented DEMOGRAPHIC CENSUS TRACT DATA reported by FHFA, the GSE’s and other entities is being used to tar and feather appraisers. I have written about this topic at least 2x in the past.

The latest is this 8/01/23 INSIGHTS newsletter, in the link, from FHFA ...... the ‘conservator’ of Fannie Mae and Freddie Mac:

Blog | Federal Housing Finance Agency New Measures in the UAD Aggregate Statistics: Opportunities to Explore Data on Comparable Properties and Structural, Lot, and Neighborhood Characteristics (fhfa.gov)

Here’s what’s in that (screen shots of the document):

Appraisers don’t appraise properties with CENSUS TRACTS as a paramount data point. Most of us don’t even know where the tract boundaries are.

The Census Tract Number on the appraisal form is only there so that the LENDER and their regulators can track loans made in Tracts.

Because the ‘researchers’ cannot get into the minds of appraisers to determine how comps are selected, all the ‘researchers’ can do is fall back on this DEMOGRAPHIC metric. That’s unfair to appraisers. “We” appraisers are not allowed to use or consider people-oriented DEMOGRAPHICS in reports.

But what’s conveniently overlooked in this metric is the econometric status and other factors that play into where people choose to live and how baseline property valuations are done, starting with the local jurisdiction Assessor. Those baseline factors started decades ago, long before most appraisers got into the business.

Buyers also don’t use Census Tracts as a determining factor on where to buy their home, unless magically the Tract corresponds with other geographic or personal factors the buyer considers important. Builders/developers in most cases don’t purposely put up new housing based on Census Tract demographic info.

What’s been happening since 2018 or before is the likes of Andre Perry and Elizabeth Corver-Glenn, Ph.D, etc., have incorrectly used Census Tract people-oriented DEMOGRAPHIC info to inform Congress and others that “We” appraisers are valuing properties all wrong and it must be stopped.

Because of this, Census Tracts are becoming the de facto element “We” must acknowledge and that other people think is proper.

In short, using only this people-oriented DEMOGRAPHIC based data item to judge appraisers is just plain wrong.

Dave Towne, MNAA, AVAA, AGA "

About David Towne

Certified Residential RE Appraiser at Towne Appraisals

AGA, MNAA, Accredited Green Appraiser - Licensed in WA State since 2003

https://www.linkedin.com/in/dave-towne-4a65226/
https://www.towneappraisals.com/

http://www.e-appraisersdirectory.com/Washington_Appraisers:Towne_Appraisals-48-2989-0-0-1864.html

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

Sunday, July 30, 2023

Nazario Incorrectly Blames Their Home Affordability Issues in Los Angeles on Government by Mary Cummins

This family of four tries to blame the government for their inability, unwillingness to cheaply rent or buy a home in central Los Angeles on their low wages with little savings. There are a few issues here the biggest being their relatively low wages. The article states the two daughters graduated from college. Jennifer Nazario got a Masters in economics and Paula Zanario got one in public policy. Their Opinion op-ed piece shows they may not have been paying attention in class.

People making minimum wage can't afford to rent a one bedroom in LA same in SF and NY let alone buy a home. Median rent for one bedroom here is $2,100. You need two people with minimum wage jobs to afford that and they're still rent burdened. They should increase their wages before considering buying. They've now bought at the peak of the market with high interest rates and a super low down payment. Hope they didn't get an adjustable and never have an emergency or job loss.

One issue I've found with people living in rent control units is they never strive to increase their income because they don't need to. I can only imagine how low the rent is for that studio after having been there for 25 years. It's wayyyyyyy below market rent. They've been taking advantage of their landlord who has subsidized their rent for 25 years. Their landlord is probably also an immigrant Latino.

Legally they were not allowed to have four people in there. They could have been evicted easily but the landlord was nice to them and allowed them to stay. It's two people max allowed for a studio though sometimes they'll allow a very young underage child.

As I read the article the two kids weren't old enough to work until about 2022. They said they both went to college then grad school. They chose not to get full time jobs. Then they said they, I assume the two daughters, make over $136,650 a year combined. They did at least state they were happy they had low rent so they could save a lot of money for years. That's nice. It also means they are admitting they could have afforded a bigger better place if they wanted to. They are complaining about a situation they created for themselves.

The writers state they applied for the BofA program but didn't qualify because they made too much money. They also applied for the California Dream for All program which ran out of funds. Then they whined about the pay back part of one program if they accrue equity and sell. That's how the program works and is funded! We're really just taking their word for it. There could be more involved like credit scores, time at their jobs, other debt like car payments, credit card debt, bad debt, student loans...

They ended up buying a home outside of expensive downtown Los Angeles with 3% down. This was after they basically complained about rising rents, home prices and gentrification. They moved somewhere else and contributed to gentrification in that area. "Gentrification" has nothing to do with race but finances. Finances correlate with race in the US. Whites make more than Latinos and Blacks. It's actually just the revitalization cycle of real estate. People get pushed out of more expensive areas into less expensive areas. That's what happened with this family. They originally found a cheap place to live because it was in the recession phase before the recovery phase. They just did the same with their new place. They committed "gentrification."

Jennifer and Paula Nazario suggest government programs should provide free or cheap down payments for homes for poor people with low income jobs, bad credit, lots of debt and no savings. They clearly were not paying attention in class especially Jennifer with her Economics degree. If anyone can basically buy a home for free even though they can't easily make the mortgage, taxes, insurance, upkeep expenses, they will default and lose the home. That's why conventional loans don't allow you to borrow the down payment money. If you aren't making enough income to afford the down payment, you can't weather any emergency and won't be able to pay back the loan. Someone with no money in the deal won't care as much about losing the property. No bank would loan on a property without an equity cushion for fees, costs if they get stuck with it in foreclosure. There is a ton of years long research on this.

Someone should have dissuaded the Nazarios from writing this clueless op-ed piece. It makes them look really stupid. I wasn't going to say anything until I saw that Jennifer has a degree in Economics. I'm truly embarrassed for them because I'm Latino. Thankfully I have common sense and don't expect the government to pay for everything for me. You have to do some things for yourself in this world.

From the article: "Jennifer Nazario is a systems administrator at a network of college-preparatory schools and a first-generation college graduate with a master’s degree in economics. Paula Nazario is an assistant director at UCLA and the first person in her family to go to college. She has a master’s degree in public policy."

https://www.yahoo.com/news/family-four-shared-cramped-studio-100112963.html

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Mary Cummins

Saturday, July 22, 2023

Barbie's Malibu Beach House 33505 Pacific Coast Highway PCH Hwy by Mary Cummins Real Estate Appraiser

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The Barbie Malibu Beach house is located at 33405 Pacific Coast Highway PCH Hwy. The GPS is 34.04435703038078, -118.90477660010154 . Here is the Google map. The Assessor's Parcel Number APN is 4473-003-003.

Barbie's Malibu Dream House is owned by 62 year old real estate agent Kirby Max Kotler.

Legal description is LAND OF MATTHEW KELLER IN THE RANCHO TOPANGA MALIBU SEQUIT LOT ON N LINE OF PACIFIC COAST HWY COM N 9 14'30" E 50 FT AND N 80 45'30" W 600 FT FROM ENGR STA 229 PLUS 62.82 IN C/L OF SD HWY PER 30" E PART OF LOT 19 . Below is the parcel map. Look at the pink arrow.

It was last listed for lease for $12,000/month in 2011. Description is "Newly built, private and gated, custom architectural home situated on over 2.5 acres of land. This beautiful home, surrounded by lush and tropical landscaping, has 3 bedrooms + office/guest bedroom and 3.5 bathrooms and maids quarters. Gourmet chef's kitchen with stainless steel Viking appliances and stunning living room with fireplace. This Malibu Estate boasts magnificent 180 degree ocean and whitewater views of the beautiful Pacific Ocean from Santa Monica to the Channel Islands." Below is the last MLS for the property.

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It's currently listed on Airbnb. https://www.airbnb.com/rooms/857387972692815761?source_impression_id=p3_1690054420_cHHNZOsAAcCHU8Wl&modal=PHOTO_TOUR_SCROLLABLE

It was built in 2007 and is legally 3375 sf. The jurisdiction is City of Malibu, Los Angeles County, California.

Google image views before the pink paint job.

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Part of the property was burned in the Woolsey fire and the owner was forced to sue the insurance company. Below is a request to rebuild a nonconforming structure. It includes a letter at the end about the issues. They have until November 2023 to submit plans for permits to rebuilt. I assume they did that.

https://www.malibucity.org/AgendaCenter/ViewFile/Item/5375?fileID=27065

More information from AirBnb

"Welcome to my Kendom! While Barbie is away, she has handed over the keys to her Malibu DreamHouse this summer and my room could be yours for the night. I’ve added a few touches to bring some much-needed Kenergy to the newly renovated and iconic Malibu DreamHouse. Placed perfectly above the beach with panoramic views, this life-size toy pink mansion is a dream come true!

Booking opens at 10 a.m. PT on Monday, July 17 for two, one-night stays for up to two guests on July 21 and July 22, 2023.

The space

Situated along the stunning, photogenic coastline, the Malibu DreamHouse is a sunny surfer’s sanctuary surrounded by beach, beach and more beach – just the way I like it.

I’ve decked out the place with a little more…well, me! I’m more than just beach! My cowboy stuff is great. And horses! Guitars, games and more. And of course, rollerblades, because I literally go nowhere without them. Now, guests can live it up Ken-style for a neon night in Barbie Land – six-pack not included.

- During your stay, you will have the opportunity to live in technicolor by:

- Taking a spin through my awesome wardrobe to find your best beach fit. Look out Barbie, I’ve got quite the closet too!

- Channeling your inner cowboy and learning a line dance or two on my outdoor disco dance floor or performing a sunset serenade on my guitar

- Challenging your fellow guests to a “beach off” with plenty of sunbathing and chillaxing by the infinity pool

- Taking home a piece of my Kendom with your very own set of yellow-and-pink Impala skates and surfboard

Other things to note

Once you arrive and check-in, our concierge will ensure a comfortable stay for you and your guest — including showing you around and setting out and arranging meals.

These one-night stays are not a contest. Guests are responsible for their own travel to and from Malibu. This home is privately owned and operated.

In celebration of BARBIE hitting theaters on July 21, and to honor girls’ empowerment, Airbnb will make a one-time donation to Save the Children. Save the Children provides learning resources and support to children, families, and communities in 100+ countries to build girls’ confidence and help them excel in school – ensuring everyone has equal opportunity to achieve success."

DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html

Mary Cummins

Friday, June 2, 2023

Joe Biden, Kamala Harris Lie About Appraisal Bias to Get Votes by Mary Cummins Real Estate Appraiser

mary cummins, real estate appraiser, real estate appraisal, los angeles, california,joe biden, kamala harris, pave task force, real estate, appraiser,appraisal,income gap

The Biden Administration continues to promote the false narrative of the racist and biased appraiser to the American public. Yesterday the White House released an alleged "fact sheet" titled "Biden-⁠Harris Administration Takes Sweeping Action to Address Racial Bias in Home Valuations." This "fact sheet" basically states that Joe Biden has solved the wealth gap among whites, blacks and Latinos by "cracking down" on real estate appraisers. That is a total lie. The wealth gap is caused by the income gap and not appraisers. The wealth gap is wider today than when Biden Harris took office.

Research by American Enterprise Institute ( AEI Housing Center Response to Perry and Rothwell, 2021, https://www.aei.org/research-products/report/aei-housing-center-response-to-perry-and-rothwell-2021/ How Common is Appraiser Racial Bias https://www.aei.org/how-common-is-appraiser-racial-bias/ ) has shown using the government's own data that there is no racism in real estate appraisals. AEI has proven beyond a shadow of a doubt that the papers cited (Andre Perry) by Harris are fraudulent research with a false conclusion.

The real issue is income inequality and not appraisals. Whites make more money than blacks, Latinos. Because whites make more money they have more money (wealth gap) and buy more expensive homes in more expensive areas than blacks, Latinos. Home value is based on location. Appraisers are not appraising them differently! The data cited in the papers uses robot appraisals and not real live appraisers. This is all politics to garner votes from blacks and Latinos. FTR I'm a female Latino.

The "fact sheet" states the PAVE Task Force was announced on the centennial of the Tulsa Race Massacre. This news is released on the first day of National Homeownership Month after Biden/Harris announced their run for re-election. Clearly political staging and timing for maximum effect to reach target voters.

Biden stated the Task Force has been successful. In reality nothing has changed. Biden created a non-existent problem then stated he alone could fix it if elected. He was elected and now he claims to have fixed it in order to get more votes. Now he claims he's doing even more to fix the non-existent problem with new programs. Below are these "new" programs which are basically the same programs the PAVE Task Force, government announced months, years ago. He might as well add that he just ended slavery and just allowed women to vote.

1. Preventing algorithmic bias in home valuation.

The Administration has stated that physical living breathing appraisers are biased. They based this false conclusion by looking at valuations, not appraisals, made by robots who have never seen the homeowners or homes. The robots don't know the race, color, gender...of the homeowners. They also don't know the home's condition, true size, true bed/bath count, amenities, specific location in a neighborhood (on a busy road, next door to the dump) or if it even still exists.

Now the Administration states they will find a way to prevent these robots from being biased. The robots are not biased! They're robots. Homes are appraised by appraisers and robots using a math formula. They compare the subject property to be appraised to other very similar homes in the same exact area which have sold recently. That's it! No race is involved ever.

Some today feel that an older home in fair condition owned by a person of color in say South Los Angeles should be comprable in value to a new home in excellent condition in Beverly Hills owned by a white person. They feel that would be more "equitable." They have specifically stated they want to increase the value of lower valued homes owned by blacks by using home sales from different areas farther away in "white areas" which are worth more. This would make every appraisal as worthless as any loan based on that appraisal. The real estate industry, investment industry, stock market and our economy would crash if this were done. Even the Appraisal Institute which generally cozies up to the government said this makes no sense (https://mary--cummins.blogspot.com/2023/02/mary-cummins-comment-to-asc-bias.html ).

The best way to make sure AVMs aren't biased is to not use them for appraisals, loans or specific research. While they aren't biased against people they are biased against market value. The issue is GIGO i.e. garbage in, garbage out. In this case it's not enough data goes into the formula. They don't know or consider condition, view, upgrades, amenities, actual size.... This makes homes in inferior areas in poor condition worth more than market value. Homes with excellent views, upgrades, amenities...end up worth less than market value. All the AVMs today state they are never to be used as an appraisal. Then don't use them for an appraisal. Oddly enough the government is trying to make their own AVM but it's not accurate either.

2. Empowering consumers to take action against appraisal bias.

The PAVE Task Force announced months ago that they developed an appeal process for appraisals. This is false. Reconsideration of Value (ROV) has always existed. If you don't like the value of an appraisal, ask for an ROV. Give the appraiser three sold comparables of very similar homes in the same exact area which have sold recently and they will consider them. Based on my experience the borrower incorrectly thinks their home is worth more because one down the street or farther away sold for more. When they send me the comps they are either twice the size, in a totally different far away neighborhood or they never sold. A lot of this misinformation is caused by AVMs such as Zillow's Zestimate which is extremely inaccurate. Again, AVMs don't see the homes. We all know that Zillow is inaccurate.

Zillow over values homes in lower value areas. The problem is lower value areas have fewer sales. Zillow keeps going wider in their search to find recent home sales. They end up using higher value sales in superior areas farther away which have more sales. This is the cause of most ROV requests. This is also part of the cause of the many media articles about real estate appraiser bias. The borrower says "Well, Zillow said my home is worth x. You said it's worth less so you're clearly a racist who should be cancelled, sued and attacked!"

3. Increasing transparency and leveraging federal data to inform policy and improve enforcement against appraisal bias.

The PAVE Task Force released data on appraisals for government backed loans. The government has always done this and legally must do this. Now they state they're releasing more data. Most importantly this data has been used to show that appraisers are not racist, biased in their appraisals, see linked research above.

4. Breaking down barriers to entry into the appraisal profession.

Biden Administration likes to say there are too many white appraisers and he's solved that. Others like Cy Richardson with the National Urban League have actually said "appraisers are pale, male and stale" which is actually racism, sexism and ageism wrapped up in a pithy phrase. There is almost a similar amount of white appraisers as there are real estate agents yet no one complains about the agents. Biden states it's because it's too difficult to become an appraiser for blacks, Latinos. It's just as difficult for all appraisers who have also been complaining about the difficult appraiser trainee program for many years even before Biden was the President. Appraisers were working on a PAREA type program long before it was announced by the government.

If you want to be a new appraiser you must be a trainee under a licensed appraiser for many hours. While I agree that the experience is great it's difficult to find an appraiser to be your mentor. Appraisers have nothing to gain and everything to lose by doing this. I've written an article about this. PAREA allows new appraisers to use other experience to become appraisers. While I support PAREA this is old news previously released by various appraisal agencies.

Kamala Harris is the go to person on this issue because she's biracial and courted the black vote when she ran for President. Remember when she said she'd give $60,000,000,000 60 billion to Historically Black Colleges HBCs if elected? She was elected VP and could do that but she didn't. She's definitely not a real estate expert. After the fact sheet was released Kamala Harris released her version of the news to the media. “Home appraisals are meant to be fair and objective estimates of the market value of a property. However, far too often, they are not,” Vice President Kamala Harris said Thursday on a press call. “Black homeowners are more likely to have their homes undervalued than other homeowners. And homeowners in majority Black and majority Latino neighborhoods are almost twice as likely to be undervalued.”

What Kamala Harris stated is false per research using the government's own data. One anecdotal article by Fannie Mae stated there were more appraisals under contract value in lower income areas that have more blacks and Latinos. The correlation is not race. It's lower income borrowers buying lower valued homes. Fannie Mae even stated their calculations were not research and there was no conclusion as to cause.

USA Today went on and included more absolute lies in their article. They even cited Junia Howell whose research is as flawed as Andre Perry. Again, homes in predominantly white areas are worth more than predominantly black, Latino areas because whites make more money, have more money and buy more expensive homes in more expensive areas. Based on Joe Biden's, Kamala Harris' logic, a new Rolls Royce with zero miles should sell for the same as a 1980 Ford Escort with 500,000 miles. They both have four wheels. To value them differently is clearly racism and bias. The government should sue Kelly Blue Book and the car industry for valuing them differently. (sarcasm)

While I support an honest and fair appraisal industry I don't support the false narrative of the racist white male appraiser. It's a lie. While racism, racists exist it has not affected appraisal values. I also don't support the promotion of the false narrative for votes or any other agenda. I'm a Democrat and will vote for Joe Biden, Kamala Harris again. They do more good than bad but I'm absolutely against their actions on this made up issue. It's very harmful to appraisers and the industry. Appraisers are getting cancelled, death threats, harassed over the Administration using appraisers as scapegoats for the income gap. It's the income gap, stupid! Fix the income gap and leave appraisers out of it. They won't fix the income gap because it's too expensive. Maybe the politicians don't want to even fix it.

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Mary Cummins

Wednesday, February 1, 2023

Los Angeles' Changing Areas, Downtown Salvage in LA's Arts District by Mary Cummins

downtown salvage, mary cummins, arts district, 7th st, anderson, los angeles, california, el salvador, industrial, warehouse, real estate, 2251 e 7th st, leonard rubin, construction salvage

Los Angeles has really changed especially the industrial area in downtown Los Angeles' Arts District. Industrial, manufacturing buildings have been converted into residential lofts and "creative spaces." The old 6th Street bridge was demolished and the new Ribbon of Light bridge replaced it. A new park is being finished under the bridge. There are fancy cafes and restaurants and million dollar loft conversions nearby.

As an example of the many changes in the area is the story of an old salvage yard. My family used to own Downtown Salvage at 2251 E 7th Street in Los Angeles, California. It was where the 5, 10, 101 freeways met. It encompassed almost the entire block of lots including all the ones facing 7th Street and half of the ones facing Anderson near the new 6th St bridge, see plat map below. We later owned the Mexican restaurant pool hall on the corner I believe or maybe we were thinking of buying it. We took over the alley and the railroad tracks that ran through the property by prescription and adverse possession. We owned it during the '80's then sold it to File Savers which stored paper records for businesses. It's since changed hands a few times.

downtown salvage, mary cummins, arts district, 7th st, anderson, los angeles, california, el salvador, industrial, warehouse, real estate, 2251 e 7th st, leonard rubin, construction salvage

The salvage business was run by Leonard "Lenny" S. Rubin and my family. Lenny used to own three separate salvage yard lots with various names, i.e. SALVAGE MASTERS INCORPORATED, L & S LAND CLEARING, INC, DOWNTOWN SALVAGE INC and EASTSIDE SALVAGE, INC. I think he was being evicted from one lot and wanted to combine the lots into one location which is how my family was involved.

My grandmother Mary R Cummins aka Maria Rivera Cummins bought and owned the property. Lenny moved his yards to the site paying rent. At the time there was a two story newer office building on the corner of 7th and Anderson, a Mexican restaurant pool hall on the corner of 7th and Rio, vacant lots in between them and huge warehouses behind them for half of a long warehouse block.

Back in the 1980's we'd get the demolition permits to tear down homes and buildings in Los Angeles especially Beverly Hills. We tore down Bela Lugosi's house and kept the hand painted Mexican beam ceiling for our own home. We also kept this antique hand painted Mexican fold out bar. We tore down Ships restaurant and all the apartment buildings at 10877 Wilshire Blvd in Westwood. We found a mint condition Packard car on the lot which we were going to auction off after proper legal notice but the workmen came and stripped it clean one night. We tore down a famous Ribs restaurant RJ's The Rib Joint at 252 N Beverly Drive in Beverly Hills. We ended up keeping the gaudy huge long wood and brass bar with mirrored slats in our house.

The salvage yard had stacks of used solid wood doors, wrought iron railings, old bathtubs, old toilets, old sinks, lots of used bricks, copper tubing, marble slabs, ornate fireplace mantles... We saved absolutely everything from every demolition job. It was recycling at its best. There were lots of antique door fixtures, wood windows, built-in cabinets, chandeliers, marble tiles... some really beautiful items. Everything was organized by section, lined up in easy to find rows and categorized on an overhead hanging map because the place was so huge. People also left personal items which we sold after proper notice.

Most of the workers on the site were young men from El Salvador. My grandmother, myself and Lenny all spoke English and Spanish. The kids aged 18 plus used to show me photos of them in their military uniforms from El Salvador holding machine guns during mandatory military service. Most couldn't speak or read English but they did read Mexican comic books. Some of them lived out of need in the top floor of the office building or another area of the site.

The workers would get their paychecks on Friday and we'd cash them for them. Then they'd get dressed up in their fancy cowboy boots, big belt buckles, hats, nice shirts and go have a few drinks or more at the local bars including the Mexican restaurant pool hall on the corner. For some reason there were multiple gun shootouts at the office building on the lot. I'm not really sure the cause but some was gang activity and some were late night drunken fights. I just remember the police complaints and bullet holes in the building.

We were open from 7:00 am to 6:00 pm. Then we had issues with people living on the lot selling items off the lot before and after work hours. We changed the work hours to 6:00 am to 8:00 pm. There were also guard dogs and locked gates that had car or truck access.

One time we had a huge electrical bill and tried to figure out the cause. We finally figured out that one of the El Salvadorian security guys would leave the lights on all night in the warehouses because he got scared doing his rounds. He told me he thought he saw the vision of the Virgin Mary a few times and thought it was an omen that something bad would happen to him. We replaced him with someone else who was not so superstitious though it was a common theme among some workers. Most of the workers were very Catholic and very superstitious.

For some reason there were a lot of immigrant Latino men who would dress in wild drag and offer themselves on the sidewalks next to the Mexican restaurant late at night. They were regular looking El Salvadoran men wearing very short skirts, tube tops and high heels. They didn't try to look like women so no one was fooled. I continued to see those men there at night until at least 2000.

We sold the property in the late 1980's to File Savers and moved the salvage business to another location. They since sold the property and groups of lots separately. We never legally combined all the lots into one parcel because of the alley, railroad tracks and the time and expense involved. It also made sense to keep them separate for value. They were worth more individually than combined.

Today there are a few different businesses there. The office building was torn down. There's a "State of the Art Cannabis Dispensary & Grow Facility" on the front portion facing 7th Street at 2235 7th St. The corner restaurant pool hall is now a "Creative Building" at 2231 7th St. The long row of industrial buildings facing Anderson at 679-691 S Anderson is now Quasar Science which sells lighting. They rebuilt the building over the old railroad tracks which we took by prescriptive easement.

I'm glad to see the changes in this area. It used to be very rough when I'd go to the lot in the '80's. I lived in downtown Los Angeles for a while around 2008 and used to go to the Toy Factory lofts and the Edwardian-goth pub Royal Clayton's which is now the Little Bear at 1855 Industrial. That was about it at the time. Now there are a lot of nice little restaurants in the area, much less crime and it's a lot cleaner. There's even a pricey market in the area. I'm pretty sure the male street walkers near the old restaurant pool hall are gone as well.

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Mary Cummins

Monday, January 9, 2023

Cancel Culture is Destroying Freedom of Speech on Important Issues by Mary Cummins Real Estate Appraiser

mary cummins, real estate appraiser, appraiser, appraisal, real estate,real estate appraisal, los angeles, california, racism, cancel culture, bias, black, white, freedom of speech

If someone does something racist, they should be called out and educated. If a police officer murders a black man, they should be arrested and tried in a court of law. If someone just talks about these issues, they shouldn't be attacked, sued, have their business ruined, reputation destroyed, be harassed, threatened and assaulted. It doesn't make any sense. It harms freedom of speech, promotes racism and destroys any chance at public discourse of the issues.

Lizzo took a moment on a Sunday morning to share her concerns about cancel culture.“This may be a random time to say this but it’s on my heart.. cancel culture is appropriation,” Lizzo tweeted on Sunday (Jan. 8).“There was real outrage from truly marginalized people and now it’s become trendy, misused and misdirected,” she wrote. Lizzo continued: “I hope we can phase out of this & focus our outrage on the real problems.”

People are more upset about people talking about racist issues than the actual racism, race violence and hate crimes. People are more upset about someone stating facts about the false narrative of the racist appraiser than they are about real racism against blacks, the wealth gap or the fact that blacks, Latinos have little generational wealth. We appraisers can't even talk about the issue without being attacked, harassed on social media, getting false negative business reviews, death threats or threats of physical harm. Appraisers can't even comment on articles about the false narrative of the "racist appraiser" or we'll be viciously attacked. In fact some appraisers, AMCs and lenders have piled on to the false narrative in order to garner praise, seem woke, appear to be doing something about racism, get business, positive press and to not be attacked over the same issues. Some lenders have even used this issue to rip off POC by luring them in with promises of no racism only to charge them higher rates which is racist.

The real issue here is the income and related wealth gap between whites and POC. Because POC make less money, they have less money and wealth including generational wealth. Because they have less money and wealth, they buy and own less expensive homes in less expensive areas. The cause of the difference in value between white and black, brown owned homes is not the fault of the real estate appraiser. The data used in these misleading articles didn't even come from appraisers or appraisals but flawed automated valuation methods, robots, software programs by failed Zillow. The real problem is the income gap. Tell politicians and the government to fix the income gap. Assaulting real estate appraisers will never fix the problem.

Someone on Twitter stated in response to Lizzo's tweet, "Jessica Ballinger @BallingerMom Replying to @lizzo

Absolutely ❤️ There are very real issues that warrant outrage… I sometimes wonder if cancel culture stems from people feeling impotent against those bigger issues, so they go after simpler targets to feel better about themselves, like they did something."

I can understand the feeling of wanting to do something about racism but harming an innocent bystander is wrong. If someone sees racism against POC by white people, that doesn't give them the right to beat up and kill any white skinned person they see. That's just as racist as the racism they say they hate. It's also hypocritical.

In this situation by forcing real estate appraisers to shut up about the false "racist appraiser" narrative they are destroying freedom of speech and any public discourse on the issue. Instead the public only sees the misleading articles about specific cases in the media which are false. The media now writes these articles to get more outrage, traffic to sell more ads. One media will share the article by another media to make money off ads.

I've written about some of those cases here. The homeowners weren't low balled due to the fact they were black and the appraiser was white. The homeowners weren't even low balled in the specific cases I reviewed here. The specific properties were appraised using the closest most similar sold comparables. They were all near the edges of more valuable but very different neighborhoods. They were worth less than homes in the next neighborhood for very good reasons. The homeowners just wanted their homes to be worth more and were maybe misled by Zillow, RedFn and other robot "Zestimates."

I really hope in 2023 appraisers will be allowed to write articles about these issues or at least comment on articles without being so viciously attacked that they have to delete their comments or only comment anonymously. That doesn't help anyone. It just perpetuates racism and hatred against white appraisers.

Mary Cummins

Sunday, December 11, 2022

Prince Harry, Meghan Markle, Sussexes did not use a different home to look wealthier by Mary Cummins

Prince Harry, Meghan Markle, the Sussexes, home, house, montecito, california, rockridge, mary cummins,real estate appraiser, real estate appraisal, netflix, movie, series

Prince Harry, Meghan Markle, Rockridge, the Sussexes, home, house, montecito, california, rockridge, mary cummins,real estate appraiser, real estate appraisal, netflix, movie, series

I thought I wrote an article here about the Sussexes home in Montecito but it's gone. It's public knowledge it's Rockbridge, Montecito, California. They bought it mid 2020 for $14,650,000. It sold 2009 for $29,000,000. It was marked down from $34,000,000 in 2020. It's clearly worth more than what they paid for it plus they upgraded it. There has been a lot of appreciation since June 2020 in 2.5 years. They did not use a different house for the show to try to look wealthier. Their home is bigger, nicer and probably worth more than the other home. They didn't want to disturb their family life, security and privacy.

https://www.tmz.com/2022/12/11/prince-harry-meghan-markle-mansion-netflix-documentary-not-their-home/

This is the home where the Netflix series was shot, 888 Lilac Dr, Montecito, California. It was built 2006 on about 2 acres, 13,599 sf, 6 bed, 6.2 baths. listed at $33,500,000. It's been on the market 473 days which means it's probably over priced.

https://www.compass.com/listing/888-lilac-drive-montecito-ca-93108/858159209087806745/

Sussexes house 7** Rockbridge, Montecito, California built 2003 on 5.3 acres, 14,563 sf, 9 bed, 13 baths, listed at $34,000,000 in June 2020. They are three miles apart equidistant from the ocean and main road. The Sussexes house is most likely worth more because it's larger on a lot over twice as large.

Mary Cummins

Saturday, October 22, 2022

Dia de Muertos Celebration Grand Park Los Angeles October 22, 2022 by Mary Cummins

Mary Cummins, Dia de Muertos,Grand Park, Los Angeles, California, October 22, 2022, altaras, ofrendas, real estate appraiser, real estate, appraiser, appraisal, folklorico dancing, las catrinas mariachi

Mary Cummins, Dia de Muertos,Grand Park, Los Angeles, California, October 22, 2022, Day of the Dead, altars, ofrendas, real estate appraiser, real estate, appraiser, appraisal, folklorico dancing, las catrinas mariachi

Tenth 10th Annual Dia de Muertos celebration at Grand Park 200 N Grand Ave, Los Angeles, California 90012. It was between Grand Ave and Hill St. between 1st and 2nd St. Below is the event schedule for opening day October 22, 2022. Las Catrinas Mariachi Band and Grupo Folklorico Huitzillin & Teatro Aztlan were there along with poetry reading, sugar skull decorating, Dia de Muertos face painting and a few booths. This was also the 10th Anniversary of Grand Park. It was the Grand Avenue Arts All Access

Below are a few photos and videos of the event. @mariachilascatrinas
Event information: https://grandparkla.org/event/grand-parks-downtown-dia-de-los-muertos-2022/

Grand Park’s Downtown Día de los Muertos honors people, places and ideas that merit reverence and commemoration. Grand Park’s Downtown Día de los Muertos is a community-oriented space inviting park-goers to contribute to the community altar, ideated by artist and educator Consuelo Flores and to stroll through the park viewing numerous altars made by professional artists and local organizations. Additional public programs and activities on the opening day to include, poetry reading by Women Who Submit and Luis Rodriguez, musical performance by Las Catrinas Mariachi Band, dance performance by Grupo Folklorico Huitzillin with Teatro Aztlan, sugar skull decorating with East Los Sweets and colorful chalk art with KDaze Art. Plus professional face painting with Color Me Face Painting.

"Curator’s Statement

By Consuelo G. Flores

Los Angeles is comprised of different communities with rich, impactful histories and cultural contributions. What you’ll see as you walk through Grand Park are exquisite threads that create tapestries that focus on legacies, families, and the beauty of our diverse Latino community.

Día de los Muertos/Day of the Dead at Grand Park, offers Los Angelenos and city visitors the opportunity to interact with an intimate and important component of the celebration – the ofrendas/altars. Each installation gives the viewer a glimpse of the person(s) being remembered, who they were in life, what was important to them, what brought them passion, what their impact was on those still living and especially how they were loved. As you visit with each ofrenda, perhaps you can imagine sharing a cup of coffee or a sip of tea or getting a good book, movie or play recommendation from those who are being remembered.

Each altar is dedicated to people like you or me or someone we know, who lived, loved, and became part of our community. Sometimes they were here for a long time, sometimes for a short time – but always an impactful, memorable time.

As you interact with and learn from each ofrenda, remember what the Día de los Muertos/Day of the Dead celebration is in three simple tenets: