Name: Sean Sargeant, SRA
Title: President, Vermont Chapter of the Appraisal Institute
Company: Sargeant Appraisal Services
Location: 8 Sonic Dr., Rutland, VT 05701
Family: Wife, Dawn, one daughter
College: University of Vermont, BS, Mechanical Engineering
First job outside of appraisal: Battery Development Engineer for EI Systems
First job in appraisal or allied field: Sargeant Appraisal trainee
What do you do now and what are you planning for the future? As chapter president I will communicate new regulatory changes to members, oversee continuing education and urge associate members to become designated as MAIs or SRAs
Hobbies: Outdoor activities: skiing: mountain biking, hunting
Favorite book: "Freakonomics"
Favorite movie: "The Seven Samurai"
Person you admire most (outside of family): Ronald Reagan
Key to success: Do what you say you are going to do.
If you had to choose another vocation what would it be? Engineer.
Over the last three to four decades, many successful real estate developers, sponsors, syndicators and operators have built substantial portfolios of commercial real estate using high-net-worth investor capital. Through careful acquisitions, development expertise, market appreciation and operational oversight, these sponsors have amassed portfolios worth tens or even hundreds of millions of dollars.
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
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.
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.
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