News: Finance

East Boston Savings Bank names Simboli and DeBlosi directors

Patricia Simboli and Robert DeBlosi were named independent directors of East Boston Savings Bank. Simboli is principal of ACS Development Corp. in Chelsea. She formerly worked at JP Morgan in New York and London. She was named to the Boston Business Journal's 40 under 40 list. She serves on the board of the Buckingham Browne & Nichols School in Cambridge; the Neighborhood House Charter School in Dorchester and yoga Hope, a non-profit. She formerly served on the board of the Winchester Hospital Foundation and the Boston Archdiocesan Choir School in Cambridge. She is also very active in the community of Chelsea, serving on several boards. She is a graduate of Bowdoin College and the Wharton School of Business at the University of Pennsylvania. DeBlosi is a CPA in Winchester, and a graduate of Bentley College. East Boston Savings Bank has 11 full-service branches, located in East Boston (3), Everett, Lynn, Melrose, Peabody, Revere, Saugus (2) and Winthrop. EBSB is in the process of opening a branch in Wakefield scheduled for late summer.
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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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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
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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
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.