W. Keith Munsell

Hires Real Estate Expert, Published Author and Professor W. Keith Munsell as Vice President and Director of Development The Equity Company is pleased to announce that real estate pioneer W. Keith Munsell has joined the team as the new Vice President and Director of Development.Munsell is a real estate executive with thirty years of experience in development, finance, construction, marketing and management of both affordable and market rate housing.Additionally, Munsell joins The Equity Company's operations at an exciting time, as Project Manager for the conversion of a historic school in Medford into 20 high end condominiums - The Residences at Franklin School.

"I think we've gone from a heated market to a normal market," said W. Keith Munsell, a professor at Boston University's School of Management and vice president of the Equity Co., a Malden developer.

One factor helping to sustain prices, Munsell said, is emotion.

Although home sellers in those sought-after communities might have been tempted to scale back their asking prices in light of reports of a softening of the market, most homeowners are still naturally inclined to use recent sales in their neighborhood as their benchmark, even if those sales took place months before under different economic conditions.

"If there's not undue pressure on them to sell, they are going to hold out longer for a price that accurately reflects their values when compared to homes that sold in the recent past," he said.

That tendency, he said, is creating a lag between rising inventories -- which, in a perfect market, would lead to lower prices -- and an actual drop in prices.

W. Keith Munsell
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"I think we've gone from a heated market to a normal market," said W. Keith Munsell, a professor at Boston University's School of Management and vice president of the Equity Co., a Malden developer.

One factor helping to sustain prices, Munsell said, is emotion.

Although home sellers in those sought-after communities might have been tempted to scale back their asking prices in light of reports of a softening of the market, most homeowners are still naturally inclined to use recent sales in their neighborhood as their benchmark, even if those sales took place months before under different economic conditions.

"If there's not undue pressure on them to sell, they are going to hold out longer for a price that accurately reflects their values when compared to homes that sold in the recent past," he said.

That tendency, he said, is creating a lag between rising inventories -- which, in a perfect market, would lead to lower prices -- and an actual drop in prices.

Sellers look at what their brokers told them and that is based on historical and not current data, and they're looking at what their neighbors sold their house for," said W. Keith Munsell, a professor in real estate at Boston University, as well as vice president of The Equity Co., a Malden-based developer.

Hires Real Estate Expert, Published Author and Professor W. Keith Munsell as Vice President and Director of Development - 1/25/2006 3:00:08 PMThe Equity Company is pleased to announce that real estate pioneer W. Keith Munsell has joined the team as the new Vice President and Director of Development.Munsell is a real estate executive with

Real Estate Top 100 Producer and Other Team Members Launch New Brokerage Firm with 'Team Based' Model - 1/25/2006 3:00:07 PM

W. Keith Munsell, CPMBio BU School of Management Chair Membership Committee

The Equity Company, Inc. Hires Real Estate Expert, Published Author and Professor W. Keith Munsell as Vice President and Director of DevelopmentThe Equity Company, Inc.
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Hires Real Estate Expert, Published Author and Professor W. Keith Munsell as Vice President and Director of Development

The Equity Company is pleased to announce that real estate pioneer W. Keith Munsell has joined the team as the new Vice President and Director of Development.Munsell is a real estate executive with thirty years of experience in development, finance, construction, marketing and management of both affordable and market rate housing.Additionally, Munsell joins The Equity Company's operations at an exciting time, as Project Manager for the conversion of a historic school in Medford into 20 high end condominiums - The Residences at Franklin School.
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Munsell is a real estate executive with thirty years of experience in development, finance, construction, marketing and management of both affordable and market rate housing.Additionally, Munsell joins The Equity Company's operations at an exciting time, as Project Manager for the conversion of a historic school in Medford into 20 high end condominiums -- The Residences at Franklin School.In addition, Munsell's expertise in development financing, affordable housing, real estate sales, as well as project, property and construction management, will assist Equity's new project development efforts, continuing to support Equity's fast paced growth.

As Vice President and Director Development, Munsell's duties will include RFP response, acquisition, permitting, building the marketing and construction teams, contract award, design review, appraisal award and supervision, construction supervision, financing and financial control.

"We are very excited to welcome Keith to our team," said Richard Williams, President of The Equity Company.
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"Keith was hired for his impressive background, vision and ability to accomplish challenging goals.Keith has already become an integral part of our company as Equity continues to grow."

Munsell's experience combines his days as First-Lieutenant in the Army Corps of Engineers in the U.S. Army Reserve and many years of real estate experience as both a practitioner and a teacher.As former Managing Member of WKM, LLC, Munsell was responsible for the development of physical and fiscal plans for, pricing and bidding of infrastructure and buildings for a 150 affordable townhouse development in Upton, Massachusetts.

Prior to WKM, Munsell was the former Chief Operating Officer of both Shining Rock Partners and McNeil Real Estate Group, Inc.At Shining Rock Partners Munsell was also Manager and consultant to a real estate development organization engaged in the construction of a $100 million residential golf community in Worcester County consisting of a championship golf course and 310 housing units.At McNeil Real Estate Group, Inc.Munsell was Executive Vice President and responsible for 3,000 market rate and affordable housing units.He orchestrated the divestiture of most of the portfolio through a $150 million tax deferred exchange among the 300 partners.While at McNeil, Munsell was responsible for developing and rehabbing hundreds of residential units worth tens of millions of dollars.

During the 1980's, Keith was Director of the Housing Management Division at the Massachusetts Housing Finance Agency.Under his leadership, the Division was consolidated and the policies and procedures were streamlined and updated.More than 50,000 housing units in Massachusetts were covered by the Divisions programs.

Munsell has also held leading roles in Resource Concepts, Inc., M & M Homes of Distinction, Innovative Resources, Inc., State Management, Inc. and Medico Associated, Inc.

Additionally, Munsell is currently an Adjunct Faculty member of Boston University's School of Management within the Strategy and Policy department, where he teaches real estate courses at both the graduate and undergraduate level.Munsell has co-authored Insulating Concrete Forms Construction Manual and The Portland Cement Association's Guide to Concrete Homebuilding Systems on construction management and sits on various community boards.Lastly, Munsell holds a CPM, a Construction Supervisor License and a Broker's License.

Munsell graduated from Rutgers College of Engineering with a BS in Civil Engineering, and obtained an MBA from Boston University's School of Management.

"Joining The Equity Company is the highlight of my real estate career.I look forward to leading Equity's new developments, in particular, The Residences at Franklin School, and to be part of its continuing growth and success," said W. Keith Munsell.