Value of Indianapolis home doubles to $259,000 after black owner asks WHITE friend to stand in for her for appraisal visit Carlette Duffy is a homeowner in Indianapolis who was looking to refinance Her home was in the Flanner House Homes neighborhood was appraised for $125,000 first in March and April 2020 A market analysis of her own home at the time, however, concluded the list price of her home could be as high as $187,000 Between May and July 2020, Freedom Mortgage and Tim Boston of the Appraisal Network appraised her home even lower at $110,000, according to a complaint On November 4, the white husband of her friend - who Duffy told the appraiser was her brother - stood in for Duffy, who claimed to be out of town Two days later, she received an appraisal from a company for $259,000 Duffy has filed a complaint with the U.S. Department of Housing and Urban Development, asking for the initial appraisals to be investigated https://www.dailymail.co.uk/news/ar...lue-doubled-white-friend-stood-appraisal.html
The market's gone up quite a bit after the initial COVID-19 wave, which hit hard during the first appraisal.
There was a gap in appraisals for sure, but the home values in Indianapolis did not increase by 230+% in 4 months.
