Frederick Richard President Connecticut Chapter Appraisal Institute
Name: Frederick Richard, MAI
Title: President, Connecticut Chapter of the Appraisal Institute
Company: Babson Capital Management
Location: 1500 Main St., Springfield, MA 01115
Birthplace and year: Hartford, Conn., 1970
Family: Wife, Julia; 2 children
College: University of Connecticut, BS, Finance
First job in real estate or allied field: Heberger & Associates, staff appraiser
What do you do now and what are you planning for the future? Maintain and increase membership by offering more educational benefits, deal with the credit crunch, changing markets
Hobbies: Time with family, play the piano and guitar, listen to music
Favorite book: "The Stand" by Stephen King
Favorite movie: "Star Wars"
Person you admire most (outside of family): Ned Heberger
Key to success: Do the right thing by your colleagues and peers.
If you had to choose another vocation what would it be? Musician
Lynn, MA The city of Lynn’s purchase of the former Eastern Bank headquarters at 195 Market St. is paying dividends in more ways than one. In issuing an RFP in the spring of 2024, the city was seeking to acquire multi-purpose space,
The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.
I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
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
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.