appraisal: New York State Supoenas Manhattan Mortgage + Mitchell - 05/21/07 12:21 AM
 Bloomberg reported today that NY State is investigating Manhattan real estate, specifically price inflation.
 Attorney General Andrew Cuomo issued suboenas to leading NYC appraisal firm Mitchell, Maxwell & Jackson as well as leading NYC mortgage broker Manhattan Mortgage.
From Bloomberg: "Y. David Scharf, an attorney at New York law firm Morrison Cohen LLP, who is representing Mitchell, Maxwell & Jackson, said his client has been told it's not a target of the investigation.
``The information that is being requested is whether or not pressure has been brought to bear on appraisers to change their appraisals,'' Scharf said. The firm is ``continuing to … (3 comments)

appraisal: Zillow Don't Know Zilch about New York City - 05/15/07 12:57 PM
With the proliferation of property value websites across the internet, customers have become more aware, informed and confused about the actual value of their homes.  Long the dominion of the local real estate agent, local property value now is automated and visible to all, from an easy google map interface.    However, automated value estimates from firms like Zillow.com can vary significantly from true market values.   Even worse, Try searching for a property in Manhattan,  you'll inevitably get a jumble of nonsense as Zillow.com works best for single family properties and does not know how to display or interpret apartment values.
… (3 comments)

 

Kolarik Hana

Manhattan, NY

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