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Finance
Posted: March 13, 2008
NorthEast Community Bank closes $530,000 in loans for apt. properties
NorthEast Community Bank has recently closed $530,000 in loans consisting of several transactions.
North Star Financial Services arranged the following transaction:
* $210,000 in refinance money for a mortgage secured by a three-story apartment building in Cranston, R.I.
Kavanaugh Commercial Mortgage arranged the following transactions:
*$318,750 in purchase money and $220,000 in refinance money for a mortgage secured by two 3-story apartment buildings in Leominster, Mass.
NorthEast Community Bank completed transactions made up of the refinance of four properties consisting of a three-story apartment building, located in Weymouth, Mass., a three-story apartment building located in Foxborough, Mass. and two, two-story apartment buildings located in Norton, Mass.
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Finance
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Quick Hits
Columns and Thought Leadership
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
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
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.
