Weekly News & Capital Markets Perspective

This week’s perspective is provided by Tom Powers:

TTom-Powers_Optimizedhank goodness we do not have to hear any more about the fiscal cliff for a while ! (about 2 months).  I received a comprehensive summary of all aspects of the provisions of The American Taxpayer Relief Act of 2012 that I thought would be good to forward along.  Not the most exciting reading but it pretty much covers the entire gamut and is probably worth a quick perusal.

Based on conversations with a lot of folks across the country, it appears that despite all the fiscal cliff, Europe and economy issues, lots of investment transactions got done at the end of the year.  Also, it appears that there will be a considerable amount of good product coming to market in the first quarter and that a lot of capital is anxious to find properties.  If the upcoming debt ceiling crisis gets taken care of without too much fanfare we should see a very active beginning of the year from an investment standpoint.

I would mention something about the BCS championship game but I think it best to leave that for my colleague Mike to address should he wish to – I will say that I understand the weather was lovely in Miami.  At least the Bengals are still in the playoffs!!  All the best for a great 2013.

Tom Powers

ARTICLES OF INTEREST___________________________

SUMMARY OF PROVISIONS IN:
The American Taxpayer Relief Act of 2012

PRELIMINARY
Title I. General Extensions
Permanent extension of 2001 tax relief
Permanently extend the 10% bracket.  Under current law, the 10% individual income tax bracket expires at the end of 2012.  Upon expiration, the lowest tax rate will be 15%.  The bill extends the 10% individual income tax bracket for taxable years beginning after December 31, 2012. Read more…

Anticipating the Next CRE Financing Boom: A Legal Perspective
Here we are, looking back at the year 2012, well into the next boom in commercial real estate financing. It hasn’t peaked yet, but it seems to be accelerating. And this time, the acceleration feels faster than the last time around. At least in New York City, we’re largely back to where we were before the financial crisis—and we got there rather quickly.  Read more…

US Property Market Recovery Continues
Seasonal lulls in house hunting will not slow the US real estate market recovery, according to experts. The S&P/Case-Shiller index indicated a dip in October 2012 that correlated with historical seasonal dips, but analysts are convinced the recovery will continue unabated. The index measured quarterly and yearly metrics, and it is the year-on-year gains in several cities surveyed that lead many to have more faith in the recovery. Other strong indicators include gains in areas that have long suffered stagnation as well as big rebounds in areas that were among the lowest performers in the nation.
Read more…

Construction Outlook Looking Better, But Don’t Call It A Rebound Yet
Momentum for an increase in construction has been building for months, and the fiscal cliff agreement by Congress should unleash more private construction investment in 2013, analysts said.

Leading indicators such as the Architecture Billings Index (ABI) indicate the brightest conditions in years are ahead for new construction. Work at architecture firms across the country continues to increase in November, according to a monthly survey. Read more…

Switchover to 2013 Reshaping Foreign Investor Strategies for U.S. CRE
As 2013 approached, offshore investors rejiggered their U.S. commercial real estate holdings with many foreign investors closing out both successful and unsuccessful ventures just as a new batch of funds were emerging to jump in on the ground floor of the U.S. economic recovery.

Several high-dollar property sales transpired in the last few weeks of 2012 and early this year, with investors from The Netherlands, Australia, South Korea and Germany selling U.S. property holdings, and funds from Canada, Bahrain, Israel, Norway and Germany lining up new deals. Read more…

Want to Be Richard Branson? Here Are His Secrets to Success
If Richard Branson lost it all, what would he do to come back? How does he define success? And what role did luck play in getting him to the top of the business world?

LinkedIn members recently got a chance to pose their questions to the thrill-seeking billionaire and founder of the Virgin Group. He sat down with us following his latest (though less adrenaline-fueled) achievement: becoming the first LinkedIn Influencer to cross the 1-million-follower mark. Read more…

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