Ten Days of Buzz: June 9-18, 2013

Ten Days of Buzz

“Renting out your property is a business venture and, with most business ventures, there may be significant tax consequences…There may also be tax deductions available, including interest from a mortgage payment, depreciation, repairs, and travel to the property, along with possible home office space deductions.”

Victoria Dalton, Elder law attorney. Your Legal Corner: Becoming a landlord, NJ.com, 6/9/13.

“Annualizing this year’s [apartment sales] volume suggests total 2013 sales activity will be close to $2.1 billion. Last year started out slower, but ended up with almost $2.7 billion of sales activity.” 

Dupre and Scott of DupreScott.com. Apartment Advisor: Investment in King, Pierce, and Snohomish Counties, DupreScott.com, 6/10/13.

“As the inventory is shrinking a lot of the private rentals owners are choosing to actually sell instead of continuing to lease out the property. So that’s also taking away from the inventory.”

Ashley Hayes of Seattle Rental Group. Seattle rental market increasingly competitive and expensive, King5.com, 6/11/13.

“Higher prices are reducing returns on investment, and investors are responding by cutting back on their purchasing plans until conditions sort out.”

Chris Clothier of Premier Property Management Group. Investors Backing Out of ‘REO-to-Rent’ Market, AOL Real Estate, 6/12/13.

“We’re told it took two years to transform this space from a shell to a showplace, featuring the most exquisite materials from around the world (the flooring, for instance, is mahogany, teak and onyx, depending on which district you’re in.)”

Josh Green of On the Market. At $15k Per Month, Behold Atlanta’s Priciest Rental, Curbed.com, 6/13/13.

“Sales volume has been climbing steadily for three years. There still are not as many sales each month as there were a dozen years ago, but investor activity is getting closer. And it shows a tremendous spike in sales last December, driven by capital gains tax changes taking effect in 2013.”

Mike Scott of DupreScott.com. Firewalking is Easier, Dupre + Scott’s Weekly Video Updates, 6/14/13.

“I don’t think we’ve solved the problem as a whole, but what we’ve done is send a very strong message to the real estate industry that this is still a tenant city.”

Sarah Shortt of the Housing Rights Committee of San Francisco. S.F. tenants win a battle over rental conversions, Los Angeles Times, 6/15/13.

“[Back in the 1930s,] there were my grandparents upstairs, my aunt Elsie on the front veranda, which was closed in, and my parents, Florence and Alfred, in the front room.”

Norma, an 80 year old who has lived in the same rented apartment all her life. Family rents home for 85 years, PerthNow Real Estate, 6/17/13.

“HUD has taken historic steps in the area of fair housing to ensure that we fulfill our nation’s commitment to equality. As this study shows, we need to continue our efforts to ensure that everyone is treated the same when it comes to finding a home to call their own.”

Shaun Donovan, HUD Secretary. HUD Study Finds Same-Sex Discrimination in Rental Housing Market, USNews.com, 6/18/13.

 

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