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
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
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.
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
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
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.