News: Finance

BayCoast Bank promotes Lincoln to vice president/marketing

BayCoast Bank, formerly Citizens~Union Savings Bank, has promoted Susan Lincoln to the position of vice president /marketing. In this role, she is responsible for the management of day to day activities of the bank’s marketing department, including the supervision of employees in that department. Having spent her career working in banking, specializing in marketing and retail branch administration, Lincoln joined the bank in July 2010 as a marketing consultant assisting with a wide variety of projects including planning a new branch opening, designing the annual report, and renaming of the bank. Prior to that time, she held the position of executive vice president/retail banking and marketing at South Coastal Bank, vice president/sales at Abington Savings Bank and vice president/deposit marketing at Citizens Bank. She holds a bachelor’s degree in Management from UMass Dartmouth and is a graduate of ABA’s School of Bank Marketing. She is currently a member of the Board of Directors of New England Financial Marketing Association (NEFMA) and volunteers as a classroom teacher for Junior Achievement. Additionally, she supports a variety of organizations such as SMILES, the American Heart Association and the Avon Walk for Breast Cancer through participation in walk-a-thon fundraising efforts.
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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.
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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
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.