Name: David Cary
Title: President, Mass. Chapter of the Appraisal Institute
Company: Integra Realty Resources
Location: 30 Congress St., Boston, MA 02210
Birthplace and year: Boston, Mass., 1965
Family: Wife, Kate, 3 children
College: Brown University, BA, Business Economics
First job outside of appraisal: Leased apartments for Bayview Realty
First job in appraisal or allied field: Associate at Leggat McCall & Werner
What do you do now and what are you planning for the future? Continue to offer high quality education and networking opportunities to members and continue to build relationships with other real estate organizations.
Hobbies: Reading, skiing, golf
Favorite book: "Battle Cry" by Leon Uris
Favorite movie: "The Godfather"
Person you admire most (outside of family): Bud Warmington (former employer)
Key to success: Hard work
If you had to choose another vocation what would it be? Carpenter
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.
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
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.
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.