News: Finance

Common sense techniques improve you as an appraiser

There are many occupations where on-the-job experience and training supplants what was learned in the classroom or during the early years of a career. How many football players excel at the college level only to find they have much to learn about technique at the professional level? Doctors see a lot in medical school, but learn much more about treating illnesses and injuries through hands-on experiences. A few months ago I wrote about the things I learned after I got my appraisal license. They were things that turned theory into practical application like how to calculate and support gross living area adjustments. These common sense techniques improved my performance as an appraiser. On August 23rd the MBREA will be hosting a Breakfast with the Experts where a panel of distinguished appraisers will share their practical techniques for calculating a number of different adjustments. You should be there as it will be the equivalent of a half-day masters class on appraising. Go to www.mbrea.org to sign up before all the seats are taken. Planning for the New England Appraisers Expo is well underway. It will be held October 24th at the Sheraton Four Points Hotel - the place with the awesome lunch! We will start the morning in a combined opening session featuring an economic update and an overview of the changes to USPAP taking place in 2012 as well as other issues being considered by the Appraisal Standards Board. The residential program tentatively will have 3 segments: review appraising, appraising deed restricted housing and the third will ask if social media use by appraisers is a USPAP violation. Make sure you mark the date in your calendars. A reminder about the many options you have to complete your continuing education through MBREA. The association offers some of the finest classroom education across the state. Our primary Dedham location is augmented by classes on Cape Cod, Danvers, Pittsfield and Springfield as well as Portsmouth, N.H. You can take any of MBREA's primary education courses for continuing education without having to take an exam. This is a great way to get 14 or 28 hours of credit participating in the courses now required by the AQB for licensing. MBREA also offers a menu of online continuing education. These seminars are offered individually or in packages at a discounted rate. You can check out all the MBREA education offerings in the education section of www.mbrea.org. Steve Dunn is president of the MBREA and principal of AppraisedValue.com, real estate appraisers in Kingston, Mass.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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.
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.
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