News: Finance

Malloy named training director at The Village Bank

According to Kenneth Brennan, president and CEO of The Village Bank, Kathleen Malloy, assistant treasurer and former branch manager, has been named as the bank's new training director. In her new position, Malloy will be responsible for developing and implementing strategic skills training programs designed to enhance overall Bank performance. Malloy joined The Village Bank in 2007 as manager of its Newton Highlands branch. Her background includes 14 years of experience with MBNA America Bank in Delaware, where she served as a senior personal banking officer.
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Essex Bank continues to celebrate 175 years with a contribution to the Clinton Art Society

Clinton, CT As part of its 175th anniversary celebration, Essex Bank continued its celebration with a contribution of $1,851 to the Clinton Art Society (CAS). The monthly donation amount of $1,851 reflects the bank’s founding year.
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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.
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.
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