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News:
Finance
Posted: May 7, 2008
John McGovern President McGovern Appraisal Service
Name: John McGovern
Title: President
Company: McGovern Appraisal Service
Location: 29 Cottage Ave., Ste. 5, Quincy, MA 02169
Birthplace and year: Milton, Mass., 1941
Family: Wife, Sharon; daughters: Jeanne and Susan
College: Northeastern University, BS, Finance
First job outside of appraisal: Lender with MIT Employers Federal Credit Union.
First job in appraisal or allied field: Mortgage officer for Boston Mutual Life Insurance Company.
What do you do now and what are you planning for the future? Started in 1992 as a commercial and residential appraiser representing banks, mortgage companies, attorneys. We do all types of appraisal work.
Hobbies: Time with family: 6 grandchildren; play golf.
Favorite book: Any mystery by James Patterson
Favorite movie: "The Godfather," Part II
Person you admire most (outside of family): Bill Kearns (86 year old scout for Seattle Mariners, breaks 86 on golf course).
Key to success: Hard work
If you had to choose another vocation what would it be? Lawyer
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Columns and Thought Leadership
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
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
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
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.
