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News:
Finance
Posted: January 13, 2011
William McGovern 2011
Name: William McGovern, SRA
Title: President, Rhode Island Chapter of the Appraisal Institute
Company: Northeast Real Estate Appraisal Professionals, Ltd.
Location: One Central St., Bristol, RI 02809
Birthplace: Providence, RI
Family: Wife, Ann Hollands; children: William, Kevin, Michael, Brian, Maureen
College: Bryant College, Associate in Economics; Army, Command and General Staff College (for promotion to lt. colonel)
First job outside of appraisal: Sold electrical parts for Cohen Electric
First job in appraisal or allied field: Appraiser for Mason & Winegard
What do you do now and what are you planning for the future? I plan to get greater participation from the associate members by adding two people to each committee who will also participate in meetings with the board of directors. Also, maintain continuing education, upgrade our computer system and model our website after the national chapter.
Hobbies: Boating, sailing, I have a trawler
Person you admire most (outside of family): Frank Hurd, Chrysler Plymouth dealer
Keys to success: Determination, diligence, honesty
If you had to choose another vocation what would it be? Tugboat captain
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Columns and Thought Leadership
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.
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
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.
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
