News: Finance

Alan Valles President Mass. Mortgage Association

Name: Alain Valles Title: President, Mass. Mortgage Association Company: Direct Finance Corporation Location: 439 Columbia Rd., Hanover, MA 02339 Birthplace and year: Morristown, N.J., 1961 Family: Wife, Gail; four children: Derek, Kevin, Katherine and Dennis College: Univ. of Mass., BBA in Business; Univ. of Penn., The Wharton School, MBA; MIT, masters in Real Estate First job outside of finance: Owned Herbie's Ice Cream in Hanover. First job in finance or allied field: Krupp Companies, real estate planner What do you do now and what are you planning for the future? Now that the loan officer law has passed, educate the industry and work with the Mass. Division of Banks to provide loan courses and training. Hobbies: Time with family, travel with family Favorite book: "What to Say When You Talk to Yourself," by Dr. Shad Helmstetter Favorite movie: "Camelot" Key to success: Maintaining a positive attitude and giving grace to others. If you had to choose another vocation what would it be? Business consultant
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Columns and Thought Leadership
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.