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Real Estate
 Marc Stiles Real Estate Editor |
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October 13, 2005
Real Estate Buzz: Tax worry drives some apartment deals
By MARC STILES
Real Estate Editor
Real Estate Editor
You've got low interest rates. The flight of capital to real estate. Condo converters and projected job growth. Now here's another factor that could put even more fuel into the hot apartment market: a possible hike in the capital gains tax rate to pay for hurricane relief and the Iraq war.
It's not like the Puget Sound-area market needs help. Sales are expected to hit a record $2.3 billion or $2.4 billion this year and could go higher due to different factors, including the anticipated tax increase, says Greg Laycock, a multi-family broker with Cushman & Wakefield in Seattle. "Savvy people are thinking about selling sooner to avoid paying that higher tax."
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Previous columns:
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- Real Estate Buzz: Developers, start your engines... maybe, 09-29-2005
- Real Estate Buzz: Locals make room for Katrina volunteers, 09-22-2005
- Real Estate Buzz: Miami condo converter targets Seattle, 09-08-2005
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