National Cheat Sheet: How the GOP’s tax plan could benefit developers, home prices rise as sales slow down & more

Clockwise from left: Secretary of the Treasury Steve Mnuchin, One Manhattan West and Civic Towers in Miami

Condo developers could benefit bigly from GOP tax reform

A new tax plan proposed by secretary of the treasury Steve Mnuchin and GOP lawmakers might be a boon to Manhattan’s luxury condo developers. It calls for lowering the maximum rate paid by businesses, including many LLCs, which are taxed under the personal income rate, to 25 percent from 39.6 percent, among other alterations. While Manhattan condo developers pay the top 39.6-percent rate on apartment-sale profits, rental developers usually pay the 20-percent capital gains rate (which would not be reduced in the new tax plan). Such a huge decrease in the top income tax rate for LLCs would suddenly make condo development a lot more appealing in relation to rental development. [TRD]

New law bans salary questions, likely putting

... read more at: https://therealdeal.com/2017/09/29/national-cheat-sheet-how-the-gops-tax-plan-could-benefit-condo-developers-home-prices-rise-as-sales-slow-down-more/

National Cheat Sheet: How the GOP’s tax plan could benefit condo developers, home prices rise as sales slow down …

Clockwise from left: Secretary of the Treasury Steve Mnuchin, One Manhattan West and Civic Towers in Miami

Condo developers could benefit bigly from GOP tax reform

A new tax plan proposed by secretary of the treasury Steve Mnuchin and GOP lawmakers might be a boon to Manhattan’s luxury condo developers. It calls for lowering the maximum rate paid by businesses, including many LLCs, which are taxed under the personal income rate, to 25 percent from 39.6 percent, among other alterations. While Manhattan condo developers pay the top 39.6-percent rate on apartment-sale profits, rental developers usually pay the 20-percent capital gains rate (which would not be reduced in the new tax plan). Such a huge decrease in the top income tax rate for LLCs would suddenly make condo development a lot more appealing in relation to rental development. [TRD]

New law bans salary questions, likely putting

... read more at: https://therealdeal.com/2017/09/29/national-cheat-sheet-how-the-gops-tax-plan-could-benefit-condo-developers-home-prices-rise-as-sales-slow-down-more/

Renter Demand for Single-Family Homes Pushes Rents to Rise …

SEATTLE, WA – Rental houses have been in high demand since the housing market crashed, but a lack of supply has made renting those homes more expensive. According to a new Zillow analysis, the median monthly rent for single-family homes is rising faster than the median monthly rent for apartments.

While rents for both houses and apartments have slowed significantly over the past year, median rent for houses rose 1.3 percent annually to a monthly rent payment of $1,404, but median rent for apartments rose 0.5 percent, to a monthly rent payment of $1,551.

There are fewer single-family homes to rent than a decade ago. When the housing market crashed, investors scooped up many single-family homes lost to foreclosure and turned them into rentals. Almost 20 percent of all single-family homes across the U.S. were rented in 2016, up from 13.5 percent 10 years prior.

Meanwhile, rentals are in increasingly high demand because many

... read more at: http://www.multifamilybiz.com/News/7898/Renter_Demand_for_SingleFamily_Homes_Pushes_Rents_...

On the market: Top 10 priciest and cheapest homes (photos)

It’s the nature of real estate’s seesaw. High-end homes take longer to sell than lower priced ones. That’s true, of course, if properties are priced right for the market.

Our monthly Bidding Wars series shows that lower-priced homes, which are affordable to more people and investors, often sell in a few days. Almost half of the residential transactions in this region go for more than their asking price, according to real estate database Estately.

In this week’s real estate gallery, we look at the top 10 priciest and cheapest homes in the Portland area and reveal the estimated monthly cost for mortgage principal, interest, property taxes and home insurance.

MOST EXPENSIVE HOMES FOR SALE

$74,403 a month1707 SW Schaeffer Road in West Linn is listed at $15 million, a price drop from $18 million when put on the market 470 days ago. Villa de l’or is set on 35.42 acres. The main house,

... read more at: http://www.oregonlive.com/hg/index.ssf/2017/09/top_pricey_cheap_pdx_homes_sal.html

Happy Valley Apartment Community Trades for $58 Million | Markets …

PORTLAND, Ore., Sept. 21, 2017 /PRNewswire/ – HFO Investment Real Estate (HFO) announced the sale of Latitude Apartments located near Clackamas Town Center mall in Happy Valley for $58 million.

Latitude Apartments - 210 Units in Happy Valley, Oregon (Photo courtesy: HFO Investment Real Estate)

The Latitude Apartments is a gated apartment community consisting of 210 apartments with an average unit size of 1,133 square feet. Built in two phases between 2008 and 2014, the sale represents the second largest apartment transaction for Clackamas County this calendar year.

Latitude Apartments consists of 33 three-story apartment buildings and one clubhouse on 6.89 acres across from Clackamas Town Center − one of the largest regional malls. The transit-oriented development is convenient to I-205 and easy walking distance to MAX light rail

... read more at: http://markets.businessinsider.com/news/stocks/Happy-Valley-Apartment-Community-Trades-for-58-Million-1002401912

Happy Valley Apartment Community Trades for $58 Million

PORTLAND, Ore., Sept. 21, 2017 /PRNewswire/ – HFO Investment Real Estate (HFO) announced the sale of Latitude Apartments located near Clackamas Town Center mall in Happy Valley for $58 million.

Latitude Apartments - 210 Units in Happy Valley, Oregon (Photo courtesy: HFO Investment Real Estate)

The Latitude Apartments is a gated apartment community consisting of 210 apartments with an average unit size of 1,133 square feet. Built in two phases between 2008 and 2014, the sale represents the second largest apartment transaction for Clackamas County this calendar year.

Latitude Apartments consists of 33 three-story apartment buildings and one clubhouse on 6.89 acres across from Clackamas Town Center − one of the largest regional malls. The transit-oriented development is convenient to I-205 and easy walking distance to MAX light rail

... read more at: http://markets.businessinsider.com/news/stocks/Happy-Valley-Apartment-Community-Trades-for-58-Million-1002401912

Portland panel recommends sale of 4 Bayside parcels for $4 million

Portland’s Economic Development Committee is recommending that the city sell four parcels in the West Bayside neighborhood for nearly $4 million.

The committee voted unanimously Tuesday in favor of the land sales, which could potentially bring more than 100 units of housing to Bayside and neighboring Parkside.

Developer Nathan Szanton and Bayside landowner Ross Furman are being recommended to buy and develop a 0.22-acre parcel at 178 Kennebec St. for $250,000.Developer Nathan Szanton and Bayside landowner Ross Furman are being recommended to buy and develop a 0.22-acre parcel at 178 Kennebec St. for $250,000.

The committee’s recommendation on the four parcels must go to the full City Council for approval.

It comes as the city continues to experience a shortage of housing, including affordable housing, and as the neighborhood struggles with issues associated with the high concentration of social service providers and homeless people there.

The parcels used to

... read more at: http://www.pressherald.com/2017/09/20/portland-committee-recommends-sale-of-citys-bayside-lands/

Portland panel recommends 4 developers for city’s Bayside land

Portland’s Economic Development Committee is recommending that the city sell four parcels in the West Bayside neighborhood for nearly $4 million.

The committee voted unanimously Tuesday in favor of the land sales, which could potentially create more than 100 units of housing in Bayside and neighboring Parkside.

The committee’s recommendation will go to the full City Council as the city continues to experience a shortage of housing, including affordable housing, and as the neighborhood struggles with issues associated with a high concentration of social service providers and homeless people.

City Councilor David Brenerman, who leads the committee, said Wednesday that the committee approved the agreements with only minor amendments to ensure that the final projects reflect the original proposals. Those amendments still need the approval of the buyers before the land sales go to the council for approval, which could happen in October.

“If there are any problems, we will table it when we

... read more at: http://www.pressherald.com/2017/09/20/portland-committee-recommends-sale-of-citys-bayside-lands/

Demand by Renters Pushes Home Sale Prices Higher

Rental houses have been in high demand since the housing market crashed, but a lack of supply has made renting those homes more expensive. According to a new Zillow® analysis, the median monthly rent for single-family homes is rising faster than the median monthly rent for apartments.

While rents for both houses and apartments have slowed significantly over the past year, median rent for houses rose 1.3 percent annually to a monthly rent payment of $1,404, but median rent for apartments rose 0.5 percent, to a monthly rent payment of $1,551.

There are fewer single-family homes to rent than a decade ago. When the housing market crashed, investors scooped up many single-family homes lost to foreclosure and turned them into rentals. Almost 20 percent of all single-family homes across the U.S. were rented in 2016, up from 13.5 percent 10 years prior.

Meanwhile, rentals are in increasingly high demand because many aspiring

... read more at: http://www.cpapracticeadvisor.com/news/12368524/demand-by-renters-pushes-home-sale-prices-higher