Insight For Legal Professionals

Commercial Real Estate Appraisers Have Had to Adjust Their Measures

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Staten Island is one of New York City's five boroughs and the least populous of them all. However, despite its relatively small size, Staten Island is an excellent location to buy a home.

This story was featured on the Columbia Society of Real Estate Appraisers, here .

Domenick Neglia was referenced in a December 24, 2014 issue of the New York Law Journal for his skills as an expert witness. Justice Debra Silber noted his more impressive credentials and the diligence he showed in describing how he came to his findings compared to Plaintiff's appraiser.

Appraiser licensing as mandated by USPAP has educated users of appraisal services such as lenders, homeowners, attorneys, mortgage brokers, etc., of the educational requirements and general standards of professional practice that appraisers must adhere to. Licensing has also inspired many appraisers to upgrade their approach to the profession; unfortunately, there are still appraisers who are not motivated to consistently conduct themselves as professionals. Not long ago my own house was appraised for a major lender. When the appraiser rang the bell, I put up a pot of coffee and set the timer for six minutes, with the intention that the appraiser might enjoy a cup of fresh hot coffee before he left. Upon ringing my bell, he stated that he had some measuring to do outside, and would inspect the interior shortly.

In the last century there were many neighborhoods in Brooklyn (do I have to add “New York” ?) with a strong Italian influence...Bensonhurst, Sheepshead Bay, Williamsburg, Dyker Heights, to name a few. One that still maintains a significant Italian flavor is Carroll Gardens, in what used to be called South Brooklyn, but is actually nearer to the mid-western section of the borough. It=s in the same general area that Tuscany is in proportion to Italy, and like Tuscany, it has rich cultural roots. However, the heritage of most Italians in Carroll Gardens is not from the Tuscany region, but rather from Southern Italy, as a result of the great immigration of southern Italians through Ellis Island in the late 1800's and early 1900's.