New York Tax and Assessment appeal services provided by Christopher Greco Appraisal Services, Inc for the entire NEW YORK Metro Area with expert exprience in New Rochelle and all of Westchester County.

It’s that time of the year again to take on the town and grieve those ever increasing taxes! There is no better time in recent history to grieve your taxes and we are here to help. Currently, Chrstopher Greco Appraisal Services is providing New York appraisals to over 100 homewoners throughout Westchester County. There is too much housing data being published by local, state and federal agencies that substantiates the reality of declining New York real estate values! Almost every communitye throughout Westchester County has been impacted by the housing crisis. No matter which county your property is located in from Westchester County to Dutchess County there are declining markets! Bronx, Brooklyn, Queens, Staten Island, Rockland County, Putnam County, Orange County, Nassau County, Suffolk County and YES EVEN New York Manhattan is experiencing areas of declining market value. If you believe that your property value is less than your total tax value and assessment then you have a case to fight and grieve your New York property taxes!

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Freddie Mac and Fannie Mae have agreed to only buy mortgages for properties that have had appraisals by firms independent from lenders. This is a huge change for the mortgage industry. This came about because of an agreement between the two largest mortgage brokers and the New York Attorney General. This will largely benefit independent appraisal companies. Lenders may now have to divest themselves of in-house appraisal services. After investigating billions of dollars of home loans it was found that lenders often put pressure on appraisers to inflate values of homes. It doesn’t take a brain surgeon to see how that may have contributed to the unprecedented amount of foreclosures over the last few years. Appraisers often were pressured to come with an amount that would justify the amount being considered for mortgages.

This agreements ends the practice of using lenders own appraisers and also ends the practice of lenders owning appraisal companies. It will be interesting to watch them as they divest themselves of these functions. Interestingly, Countrywide Financial Corp. is one of the lenders who owned that type of company. We all know their current financial situation. It goes without saying that this change will cause massive ripples through out the industry. Independent appraisal firms are poised to reap huge financial benefits as they step up to replace the lenders in house service. Expect to see new firms springing up to handle this huge volume of work. How these changes will affect new home buyers remains to be seen. It might be reflected in higher costs to the borrower.