CONGRESS HAS EXPRESSED THE DESIRE to overhaul the tax system, with some indicating that “everything is on the table.” While there are no specific proposals yet, both the House Ways and Means Committee and the Senate Finance Committee have begun discussions to look at all current-law tax provisions, which may include the following issues of importance to commercial real estate practitioners:
No matter where in the world you practice real estate, globalization impacts business. To a significant degree international investors view U.S. commercial real estate as a desirable investment. Foreign purchases of U.S.commercial properties are estimated at $24.1 billion in 2012 − up 5 percent from 2011 and up 55 percent from 2010.
Types of markets international buyers appear tofocus on:
Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.
On October 23, four members of the House Judiciary Committee introduced legislation to address the growing problem of patent litigation abuse.
Realtors® Property Resource (RPR) Commercial Launches in Louisiana, Mississippi, Northern Illinois, Kentucky, Michigan &Nebraska
RPR RECENTLY LAUNCHED its Commercial Application with licensed CIE integrated data to the REALTOR® members of the Louisiana Commercial Database, the Mississippi Commercial Association of REALTORS®, Northern Illinois Commercial Association of REALTORS®, Kentucky Commercial Real Estate Alliance, Michigan Commercial Board of REALTORS® and Midlands Commercial Information Exchange in Lincoln, Nebraska.
Terrie Suit joined the Virginia Association of REALTORS® as CEO in September. Suit is a former member of the Virginia House of Delegates, with a long list of housing-related legislative credentials. She began her real estate career in 1985 as a REALTOR® before moving into real estate lending. In 1996 she was appointed to the Virginia Real Estate Board by then-Governor George Allen. In 2011, Governor McDonnell named Suit Virginia’s first Secretary of Veterans Affairs and Homeland Security, a position she held until joining VAR.