News: Finance

Professional Profile: Richard Simmons, 2015

Name: Richard Simmons Jr., RA Title: President, Massachusetts Board of Real Estate Appraisers Company: Town of Lynnfield Assessor's office Location: 55 Summer St., Lynnfield, Mass. Birthplace: Gardner, Mass. Family: Divorced College: Nasson College, Springfield, Maine - BA English Literature First job outside of appraisal: Sales at Eastern Mountain Sports First job in appraisal or allied field: Joined Simmons Associates in 1981 with my father. What do you do now and what are you planning for the future? Maintain the organization, increase membership and its presence regionally. Hobbies: Backpacking, downhill skiing and bicycling. Favorite book: Elizabethan drama Favorite movie: "One Flew Over the Cuckoo's Nest" Person you emulate (outside of family): Allan Caprone Key to success: Due diligence and hard work. If you were to choose another vocation what would it be? Own a bicycle touring company.
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Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT

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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
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.
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.