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NEWS
April 22, 1997
The telephone number to register for an Empire Valuation Consultants workshop was listed incorrectly in Monday's This Week business calendar. The correct number is 1-510-272-9461.The Sun regrets the error.Pub Date: 4/22/97
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NEWS
July 20, 2012
The amount of subjectivity in the valuation of real estate is destroying the confidence of real estate owners and real estate lenders, and it is killing owners' and buyers' ability to finance or refinance property. Worse, the lack of consistency is significantly damaging the industry's ability to recover. Also, and to make matters worse, there is no consistency between an independent licensed appraiser's value and the value of a municipal tax assessment. The inconsistency of the results is in part due to the limited knowledge of the appraisers.
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BUSINESS
By Newsday | March 22, 1994
NEW YORK -- This week may mark the beginning of the end of Macy's 136 years as an independent merchant.Besieged by creditors, Macy's management is working furiously to cobble together a reorganization plan that would keep the bankrupt retailer out of the clutches of archrival Federated Department Stores, which wants to merge the two chains.Staying independent is becoming increasingly difficult, though, as Macy's creditors and board members have begun bickering over the retailer's value. This squabbling has led one pivotal creditor -- the Fidelity mutual fund group -- to threaten to align itself with Federated, rather than going along with a plan by Macy's management to keep the chain independent.
NEWS
By Scott Calvert and Jamie Smith Hopkins, The Baltimore Sun | January 29, 2012
The imposing three-story home on the 200 block of E. Montgomery St.stands out from its more modest Federal Hill neighbors. The edifice, with 15 front windows and a gated driveway, is noticeably bigger and no doubt much pricier. But you couldn't tell by looking at the property tax bill. The government values the house — actually three Baltimore rowhouses combined into one — at $552,000, or close to what it values nearby two-story homes with less than half the square footage.
BUSINESS
By Pat Dorsey and Pat Dorsey,MORNINGSTAR.COM | December 24, 2000
The recent decline of Amazon.com Inc. got me to thinking as to just how low the stock might go. Figuring this out is essentially a three-stage process. The first hurdle to get over is whether Amazon will have to go out of business any time soon. Well, Amazon was smart enough to raise capital like crazy when things were a bit frothier in e-tailing land, and the company had a cash balance of about $800 million at the end of September. That should be enough to see Amazon through the end of next year, when it expects to be cash-flow positive.
BUSINESS
By Newsday The New York Times News Service contributed to this article | March 22, 1994
NEW YORK -- This week may mark the beginning of the end of Macy's 136 years as an independent merchant.Besieged by creditors, Macy's management is working furiously to cobble together a reorganization plan that would keep the bankrupt retailer out of the clutches of archrival Federated Department Stores, which wants to merge the two chains.Staying independent is becoming increasingly difficult, though, as Macy's creditors and board members have begun bickering over the retailer's value. This squabbling has led one pivotal creditor -- the Fidelity mutual fund group -- to threaten to align itself with Federated, rather than going along with a plan by Macy's management to keep the chain independent.
BUSINESS
February 17, 2007
Acquisitions Intermedia Kiosks Inc., an Owings Mills-based provider of customer-operated food service ordering and kitchen management kiosks, was acquired by Gilbarco Inc. of Greensboro, N.C. Intermedia will continue to operate from its current facilities. Alliances Corrigan Sports Enterprises, a Baltimore sports event management and promotion firm, will become a partner of the Frederick Marathon to assist in the operation of the running event next month. Certifications Francis J.
BUSINESS
By ELLEN JAMES MARTIN | August 11, 1991
If there's a homeowner out on your street frantically painting and pruning, he could well be awaiting arrival of an appraiser. Whether selling or refinancing, owners everywhere are sweating the outcome of appraisals these days."
BUSINESS
By KENNETH HARNEY | April 1, 2001
THE COUNTRY'S second-largest source of home mortgage money has a money-saving new proposition for homebuyers across the country: Don't bother paying $350 to $450 for a traditional real estate appraisal. Skip it and avoid all but $50 or $200 of what you'd normally pay for a valuation of the property you're buying. Sound intriguing? Beginning April 8, Freddie Mac, the giant home-loan investor, plans to change one of the oldest rules of the real estate game. On certain "low-risk" mortgages it finances, Freddie Mac no longer will require a formal appraisal.
NEWS
July 20, 2012
The amount of subjectivity in the valuation of real estate is destroying the confidence of real estate owners and real estate lenders, and it is killing owners' and buyers' ability to finance or refinance property. Worse, the lack of consistency is significantly damaging the industry's ability to recover. Also, and to make matters worse, there is no consistency between an independent licensed appraiser's value and the value of a municipal tax assessment. The inconsistency of the results is in part due to the limited knowledge of the appraisers.
NEWS
By Larry Carson and Larry Carson,larry.carson@baltsun.com | December 29, 2009
Nearly all Maryland homeowners due to receive new property assessment notices being mailed today will see a lower assessed value on their houses, reflecting what officials say is the largest decline in the state assessment office's history. n On average, residential property values dropped 19.7 percent over three years, according to C. John Sullivan, director of the state Department of Assessments and Taxation. "I've never witnessed anything like it. It's unprecedented," said Sullivan, who has worked in the state's assessment agency since the mid-1960s.
BUSINESS
February 17, 2007
Acquisitions Intermedia Kiosks Inc., an Owings Mills-based provider of customer-operated food service ordering and kitchen management kiosks, was acquired by Gilbarco Inc. of Greensboro, N.C. Intermedia will continue to operate from its current facilities. Alliances Corrigan Sports Enterprises, a Baltimore sports event management and promotion firm, will become a partner of the Frederick Marathon to assist in the operation of the running event next month. Certifications Francis J.
NEWS
By Jamie Smith Hopkins and Larry Carson and Jamie Smith Hopkins and Larry Carson,SUN REPORTERS | February 4, 2007
Baltimore City homeowners saw some of the region's steepest increases in the recent round of property reassessments, a stark change after years of lagging home values - and added ammunition for groups calling for tax relief. In the city, which has the highest property tax rate in the state, nearly one in five reassessed homes saw values at least double since they were last evaluated three years ago. No other jurisdiction in the Baltimore region had such a high share, according to a Sun analysis of state records for owner-occupied homes.
BUSINESS
By Kenneth Harney and Kenneth Harney,Earthlink | September 15, 2006
In cooling real estate markets, it's the hottest question: How do you value a specific piece of property when local home sales are down 20 percent to 40 percent from last year, inventories of unsold homes have ballooned by 200 percent or more, and all the trend lines are pointing negative? It can be tough. Traditionally, real estate appraisers focused heavily on sales of similar properties - "comparables" that closed in recent months - to make their valuations. But that doesn't work well in markets that had been superheated - prices rising at 1 percent to 2 percent a month - but are now stalled out or falling.
BUSINESS
By Gail Marksjarvis and Gail Marksjarvis,Chicago Tribune | August 27, 2006
There's a joke among certified public accountants that tax reform - generally done in the name of simplification - is always good for their business. You would think reform would put CPAs out of work - making tax calculations so easy to do that no one would need the pros to navigate the system. But reform seemingly makes a convoluted system all the more complex. The same might be said of pension reform. The grandiose package that was passed into law this month supposedly will fix the arcane system so companies no longer overpromise.
BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | July 21, 2006
Provident Bankshares Corp. reported yesterday that second-quarter net income remained flat as the bank's home equity and real estate construction loan portfolios grew, but it recorded a loss on derivatives, or financial instruments used to hedge risk. The bank, which ranks as the second-largest independent bank in Maryland, reported earnings of $20 million, or 60 cents per share, matching the results from the second quarter of 2005 and meeting Wall Street expectations, according to a survey of analysts by Thomson Financial.
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | January 12, 2000
Trying to save his real estate appraiser license, G. Samson Ugorji insisted at a state hearing yesterday that he had done nothing wrong and that he was not part of a real estate flipping scheme that allegedly defrauded homeowners and lenders. "If I had displayed any act of incompetence, negligence or fraud, it would have been picked up by the review appraisers," Ugorji told Administrative Law Judge Laurie I. Pritchard as a two-day hearing on charges filed by the State Commission of Real Estate Appraisers ended.
BUSINESS
By Kenneth R. Harney | December 24, 1995
WASHINGTON-- Picture this money-saving scenario for 1996 if you plan to shop smart for a new home. The sellers of the property you want to buy have listed it for $225,000 -- a price their real estate agent insists is backed up by a comparative marketing analysis she's prepared of similar houses for sale.But you bring to the negotiating table a new, high-tech weapon that blows away the sellers and their Realtor: a professional appraisal of the property, complete with detailed sales comparables and a cost-to-reconstruct and lot valuation analysis.
NEWS
By JUNE ARNEY and JUNE ARNEY,SUN REPORTER | December 30, 2005
Fat bonuses for buyers' agents. Thousands of dollars for closing costs. Prizes at open houses. Price cuts. Welcome to the new reality of the Baltimore real estate market. The double-digit price gains of the past few years continue to hold, but the froth is gone. Homes are going on the market faster than they are selling. Realtors no longer lament a "lack of inventory." Sellers no longer can expect a flood of offers and even bidding wars. As a result, marketing strategies that have lain dormant for years are again popping up. Chad Dillard doesn't need anyone to tell him that the sizzle has evaporated.
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