Beth Mitchell is a partner in the real estate and finance department at Nutter McClennen & Fish LLP and co-chair of the firm's commercial finance practice group.
Mitchell is a Fellow of the American College of Real Estate Attorneys and the American College of Mortgage Attorneys. She is the immediate past president of REFA. Recently, she accepted the position of REFA At Large Member of the GBREB for 2009.
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155 Seaport BoulevardBoston, MA 02210
617.439.2309 * Fax: 617.310.9309 * bmitchell@nutter.com
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.
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.
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
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 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.