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News:
Finance
Posted: January 8, 2015
Professional Profile: Ken Dicks, 2015
Name: Ken Dicks, MAI
Title: President, Mass. & R.I. Chapter of Appraisal Institute
Company: Santander Bank, USA
Location: Dorchester, MA
Birthplace and year: Staten Island, New York - 1961
Family: Betsy (wife/partner 26 years) two sons, Brendan , Christopher and Finn McCool our Golden Doodle.
College: University of South Florida, BS Business Administration
First job outside of appraisal: Newspaper delivery New York Daily News and Staten Island Advance age 10.
First Job in appraisal: Research Assistant, Bay Area Appraisal Services, Tampa, Florida
What do you do now and what are you planning for the future: Actively pursuing new educational offerings to benefit members, continued engagement in appraisal related legislation on the local level and developing new programs to enhance future opportunities for the organization.
Hobbies: Bicycling (7 year PMC veteran), family time walking the beaches of Southeast Massachusetts and trips to Ireland, gardening.
Favorite Book: "Long Walk to Freedom"
Favorite Movie: "Love Actually"
Person you most emulate (outside of family): Nelson Mandella
Key to success: Strong work ethic and the ability to view and solve problems from multiple vantage points.
If you were to choose another vocation what would it be?: Landscape photographer
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Finance
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Columns and Thought Leadership
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
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
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.
