News: Finance

Paley named community relations manager at The Village Bank

According to Kenneth Brennan, president and CEO of The Village Bank, Susan Paley has been selected to fill the position of community relations manager at The Village Bank. Paley joined the bank earlier this year as a member of the residential lending team, but will now take over the leadership role in managing The Village Bank's Community Commitment Initiative. In her new position, she will be responsible for strengthening the Bank's internal volunteerism culture and managing and fostering relationships with local organizations seeking sponsorship and support from The Village Bank. A lifelong resident of Newton and active community member, Paley has served as president of the Newton/Needham Chamber of Commerce and vice chair of the planning and development board for the City of Newton, and was a founding member of the Newton Senior Citizen's Center.
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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
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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
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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.
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.