News: Finance

Greater Boston Real Estate Board installs REFA president Rosen

On Thursday, January 22nd, The Greater Boston Real Estate Board installed their officers and division presidents which included REFA president - Andrew Rosen, Bank of America Merrill Lynch. 2015 GBREB Officers include: * Chairman: Richard Beal, Perry Brokerage Associates; * Chairman-elect: Kristin Blount, Colliers International; * Treasurer: Richard J. Henken, The Schochet Companies; and * Clerk/assistant treasurer: Michael DiMella, Charlesgate Realty Group. 2015 Division Presidents: * BOMA: June Cunniff, A.W. Perry, Inc.; * CBA: Adam Subber, Cresa; * GBAR: David McCarthy, Keller Williams Realty Boston - Metro; * REFA: Andrew Rosen, Bank of America Merrill Lynch; and * RHA: Gilbert Winn, WinnCompanies. The Real Estate Finance Association (REFA) is one of the five divisions of the Greater Boston Real Estate Board. Founded in 1889, the Greater Boston Real Estate Board (GBREB) counts as its members more than 9,000 professionals engaged in all sectors of the industry. One of the local boards of the National Association of Realtors (the largest trade association in North America), BOMA International and the National Apartment Association, GBREB is considered unique nationally due to its varied membership base. Other divisions include: Building Owners and Managers Association; Commercial Brokers Association; Rental Housing Association; and Greater Boston Association of Realtors. On Tuesday, February 17, REFA will host a program on "Hospitality Market Overview: Demand Drivers & the Finance Landscape." The program will be moderated by Rachel Roginsky, principal, Pinnacle Advisory Group and will include a panel discussion with: Jim Berry, executive director, valuation & advisory, Cushman & Wakefield; John Fahy, senior vice president, Citizens Bank; and Larry Trabulsi, senior vice president, Capital Hotel Management. The program will be held at Nutter McClennen & Fish, Seaport West, 155 Seaport Blvd., with registration beginning at 11:45 a.m. and the program running from 12 - 1:15 p.m. For more information about REFA, including upcoming events for 2015, please visit our website at www.REFA.org. Follow REFA on Twitter @REFABoston.
Tags: Finance
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Columns and Thought Leadership
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
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.
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
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.