News: Finance

Are you Joe the appraiser? What should you do now?

The ballots have been cast and the results are in. We will have a new president in the White House. As an appraiser how will this affect how things are going in your house? Let me be the first to tell you, it is up to you. If you are a designated appraiser, a member of at least one professional real estate appraisal organization, hold a certified license, and have plenty of work.....then: A. I'm not talking to you (Am too, join the MBREA). B. Go back to work. (Already a member? Help out as a mentor). C. You're too busy to be reading this. (Call today, and sign up for a committee). For the rest of you, it may be time to reassess your position in the real estate profession and set goals for your future. If you are a trainee, maybe upgrading your license is a goal for 2009. If you are licensed you may want to upgrade to certified residential or certified general. You will likely be required to complete additional primary education or gain more experience. I would encourage you to embrace the opportunity to further your professional development and enhance your earning power. The best way I know is to join a professional organization such as the Massachusetts Board of Real Estate Appraisers (MBREA). The MBREA can help you find the best education both online and in the class room. You will be guided through the process. Best of all, membership costs and education costs have been reduced to help appraisers cope during these difficult times. As a member you will be entitled to an additional discount on all educational courses, primary as well as continuing education. As a member, MBREA Online will alert you to recent developments, breaking news, and upcoming events. What to do? 1. Set your goals 2. Join the MBREA and be a professional appraiser, not Joe the Appraiser 3. Become well informed and better educated 4. Be a professional, earn a designation 5. Save money on education and benefits 6. Enhance your earning power We are offering a free workshop on November 19th. Please accept this invitation to learn about new employment opportunities, how to earn work experience credits, share ideas, and find guidance in the process of upgrading your license. Or just come, enjoy the refreshments and the company and see what the MBREA is all about. Peter Vadala is vice president and president-elect of Mass. Board of Real Estate Appraisers, Dedham, Mass.
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Columns and Thought Leadership
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.
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