Real estate firm president fired after giving reporter data

The president of the largest real estate firm in New Orleans was fired after giving data about the discrepancy between the assessment values and home prices in the area to The Times-Picayune newspaper, writes business reporter Rebecca Mowbray of the paper.

Mowbray reports, “Sterbcow said that he had no regrets about pushing for fairness in assessments. ‘I feel very proud about my efforts, and am very proud to have helped the Times-Picayune. The message from my agents was to try to fix the situation,’ he said.

“Sterbcow has worked in the local real estate industry for over 30 years, and had been president of Latter & Blum since 1995. He is widely viewed as an expert on the New Orleans area real estate market and even got a call from the White House right after Hurricane Katrina asking for his help in estimating the cost of damage done by the storm and levee breaches. Sterbcow is an advocate for the New Orleans area nationally, and frequently travels to Washington to press the city’s case in housing, lending and recovery issues.

“Under his leadership, Latter & Blum developed enviable real estate data and analytical abilities. The firm also acquired a number of other real estate companies to expand to Baton Rouge, Lafayette, Alexandria and on the Mississippi Gulf Coast.

“The local real estate community was stunned by news of Sterbcow’s abrupt departure Tuesday.”

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