Name: Timothy Breda
Title: Senior Vice President - Office Manager
Company: Goedecke & Co., LLC
Location: 8 Wright St., Westport, Conn.
Birthplace and year: New Haven, Conn., 1961
Family: 3 children
College: University of Connecticut, BS, Finance and Real Estate (major)
First job outside of real estate: Stop & Shop bagging groceries, shagging carriages
First job in real estate or allied field: Commercial real estate appraiser
What do you do now and what are you planning for the future? We work with our clients to determine their real estate capital needs and create the best possible solution for those capital needs including debt, equity and all hybrid forms. In the future we hope to expand our market share through additions to our experienced professional team.
Hobbies: Exercise, golf, my kids' activities, fishing, UConn. Huskies, N.Y. Yankees
Favorite book: "1776" by David McCullough
Favorite movie: "Cinderella Man"
Keys to success: Passion, perseverance, integrity
If you had to choose another vocation what would it be? Run a charitable org.
Hyannis, MA MassDevelopment issued $9 million in tax-exempt bonds on behalf of Harbor Health Services Inc. to help the nonprofit public health agency expand its community health center and serve additional patients.
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
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.