The MBREA and the Mass. Chapter of the Appraisal Institute are gearing up for the 2012 New England Appraisers Expo on October 15th. The organizations have been busy recruiting an amazing lineup of speakers and have extended the program an hour so attendees receive 7-hours of continuing education credit. We plan to apply to the six New England states for continuing education approval. The Expo is returning to the Four Points by Sheraton Hotel in Norwood, where you get to enjoy both the day’s programming and the best lunch served at any appraisal conference. The day will start with a combined session featuring a slate of powerhouse speakers, including Congressman Michael Capuano (invited), economist Karl “Chip” Case, David Bunton of the Appraisal Foundation, Bill Garber of the Appraisal Institute and Jonathan Miller, author of “Emerging Trends in Real Estate.” These presenters will bring to you the most current information and data about the housing and commercial real estate markets as well as insider perspectives on changes reshaping the appraisal profession. After a lunch break, appraisers will choose either residential or commercial specific programming. Commercial speakers in the afternoon include Steve Karp, chairman and CEO of New England Development, a leading developer of shopping centers and mixed-use developments. The residential audience will hear from Robert Murphy of Fannie Mae, who is responsible for Fannie Mae’s collateral valuation policies as communicated through the Selling Guide, Announcements and Lender Letters and a principal architect of the Uniform Appraisal Dataset. The New England Appraisers Expo is the largest conference for appraisers held in the Northeast with an average attendance of close to 300. Timely education, combined with outstanding networking opportunities, provide the audience with the information and connections necessary to succeed in today’s fast paced environment. We encourage you to mark your calendars now for the Expo on October 15th. Also, we urge you to join MBREA or the Mass. Chapter of the Appraisal Institute to continue building your career as a professional appraiser and to realize member pricing on the Expo and other events. Jonathan Asker is the 2012 president of MBREA and is CEO at North Atlantic Appraisal Company, West Bridgewater, Mass.
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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.
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
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