News: Finance

The Navigators Group, Inc. partners with Herbert H. Landy Insurance Agency

The Navigators Group, Inc. its principal underwriting subsidiary, Navigators Management Company, Inc., is continuing to expand its professional liability capabilities by partnering with the Herbert H. Landy Insurance Agency to provide errors & omissions insurance to real estate agents, brokers and appraisers. These new programs are expected to be available on a nationwide basis, effective June 1st. "We're very excited about the opportunity to work with Navigators," said Betsy Magnuson, president of the Herbert H. Landy Insurance Agency. "Their professional liability team has extensive expertise in this class of business and this will provide us with a fresh perspective and enable us to bring innovative solutions to the marketplace. We anticipate that combining the strengths of our two organizations will be a win-win for our clients and trading partners throughout the country." The new real estate agents and brokers and real estate appraisers errors & omissions programs will offer expanded coverage options, as well as higher limit capacity. Stacy Hoffman, senior vice president, programs, is the manager for this new program at Navigators. "We are pleased to be working with such a quality organization and seasoned staff of professionals at the Landy Agency," said Reina Gregorio, president of professional liability at Navigators. "The launch of these new programs continues to diversify and expand Navigators' product offerings in the professional liability arena." The Navigators Group is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.
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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
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
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.