Commercial Real Estate & Business News – January 3, 2018

WASHINGTON – It was what one expert called “the mother of all booms.” Just over a decade ago, Arizona’s construction industry was leading the country in residential and commercial building. People were waiting up to a year for a house, even as builders were throwing new homes up on spec for the residents who were flocking to the state. And then it was over…»
WASHINGTON, DC-As 2017 wound to a close residential home owners went into a scramble. With the Tax Cut and Jobs Act limiting the value of the property tax deduction next year, many were rushing to pay their property tax early and claim the deduction on their 2017 returns. In response IRS released a notice warning taxpayers this maneuver would only be allowed if they had their assessment for 2018…»
Investors are looking forward to another strong year for apartment sales. “Going forward, there is a bit of renewed optimism… and we are still at an elevated level when it comes to transaction volume,” says John Sebree, first vice president and national director of the national multi housing group for Marcus & Millichap. Investors bought fewer apartment properties in 2017…»
Santa Claus and his reindeer descend from a starry night sky and land in a snow-blanketed parking lot. A giraffe greets them at the entrance to a “magical place” with “toys in the millions all under one roof”. The Toys R Us’ trademark mascot helps Santa deliver gifts, dropping parcels into chimneys. The TV advert, unveiled in the UK in November, evoked a nostalgia for the 1990s…»
The temperature may be frigid across much of the nation, yet home prices are sizzling and sellers are in the hot seat. Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic. That is the third straight month at that pace, far higher than the price gains in the first half of 2017. Low supply and high demand are fueling the spurt…»