Any Plans to Buy or Sell in this Tax Year?

It may seem ridiculous for me to be posting on a hazy, hot, and humid August morning that time is running out for real estate sales this year.  However, much of commercial real estate is driven by tax concerns, and taxes play an important role all the time, even when the reasons for activity relate to other concerns.  Therefore, it's wise to consider that it takes a long time to close most properties that need environmental testing or financing, so now would be the time to get moving, if you intend to accomplish anything by the end of 2016.  In the real estate field, we try not to count on much getting done after mid-November.  Since that is about ten weeks away, I'm not being overly cautious to say that Labor Day should be your signal to ramp up your search or your sale.  Even leases can be affected by the calendar year for taxpayers, if you are interested in deducting costs of fit-up or commissions.

So time's awasting--get moving!

Recent Statistics for Connecticut Commercial Real Estate



Happy New Year!

I've blogged in our residential blog about reasons that we are optimistic for 2016.  There are a few commercial additions to that list. First of all, we had a great 2015 in Commercial. Properties that, in some cases, had been waiting to close for years finally did.  Investors are still definitely in the market, and some of them are coming from elsewhere, since our prices here are so low. Also, the glut of rental units coming onto the market causes demand in the commercial and retail sectors.

These trends are likely to continue next year. In addition, success begets success. As word spreads about prospering investors, others will follow. And the State's late, but seemingly heartfelt, belief that they need to start being nice to the businesses that call Connecticut home should really start to pay off in the intermediate future. Who knows?  We could become the new South Carolina, or Tennessee.  It should be our turn by now!