Staten Island Appraisals
The market hasn’t been too harsh in Staten Island as say Suffolk. This can be attributed to being among a few suburban areas with close proximity to Manhattan; Nassau/Westchester are others The strong school systems and affluent neighborhoods are huge contributing factors for a solid market.
Appraisals for homes in Staten Island are pretty thorough due to quality and detail of Staten Island MLS. In fact, MLS in Staten Island is the best out of all the boroughs and long island. MLS information is the readily available for most properties providing details on year built, interior photos, basement details, amenities (such as porch, lot size, patio, deck, fireplace, central air conditioning, etc.) garage, views, days on market, types of financing, broker info and so on. This is a great thing because primary appraisal software such as Comps Inc and Geo data don’t provide detailed interior information.
The most important factor when choosing comparable sales is style. If the subject property is a ranch then it can only be compared with other ranches, splanch or cape. You must compare apples with apples. A colonial can be compared with another colonial, hi-ranch, split or Victorian. This is common for suburban areas such as Suffolk, Nassau, Staten Island and Westchester. In urban areas such as Queens, Bronx & Brooklyn the most important factor is GLA (Gross Living Area or interior sq footage). This being the case, one can compare a 2-story with a 4-story if the sq footage is
|New Dorp Beach
Oakwood Heights Station
Old Town Station
West New Brighton