Name: Rocco Quaresima, MAI
Title: President, Connecticut Chapter of Appraisal Institute
Company: FRQ Property Advisors, LLC
Location: 750 Main St., Suite 304, Hartford, CT 06103
Place of birth and year: Hartford, CT - 1967
Family: Single - engaged
College: UCONN - BS Business Administration, Finance
First job in Appraisal or allied field: Reviewer for CBT
What do you do now and what are you planning for the future: Get more younger members involved - bring back camaraderie.
Hobbies: Make wine; cook
Favorite book: "Quantum Success"
Favorite movie: "Shawshank Redemption"
Person you most emulate (outside of family): Chris Italia (appraiser)
Key to success (one idea): Integrity - hard work
If you were forced to choose another vocation what would it be?: Chef
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.
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.
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.
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
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