New York, NY – New York State is investigating Manhattan real estate practices, seeking information about whether brokers pressured appraisers to inflate property values as prices doubled in the last five years.
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Attorney General Andrew Cuomo issued a subpoena to Manhattan appraiser Mitchell, Maxwell & Jackson Inc., the company said. Manhattan Mortgage Co., a broker, also received a subpoena, Chief Executive Officer Melissa Cohn said.
“It’s a rather large, broad, sweeping request for enormous amounts of information on everyone we work with,” Mitchell, Maxwell & Jackson co-founder Jeffrey Jackson said in an interview today. The appraiser, which evaluated about 20,000 properties last year in the New York region, said it received the subpoena “about 10 days ago.” [Bloomberg]
BEWARE: SOME OF OUR BROKERS …….WORK THE NUMBERS BAKWARDS THEY FORCE THE APPRASIER TO COME IN WITH THE NUMBERS THEY NEED.. UNFOURTANLY ONLY THESE BROKERS ARE CONSIDRED THE GOOD BROKERS . LOOK AT 11 AVE F ..