Many sellers are hesitant to sell their properties in an election year because of tax concerns.
Dan Fasulo says, “We went through this
four years ago when there was a possibility of an administrative
change. Sometimes tax considerations spook sellers.”
But is it tax considerations or are building owners hanging on to their properties because the real estate market is at a lowpoint?
“It all depends what your
perspective is,” Mr. Fasulo said. “If you’re a mom-and-pop shop and
have been holding an asset for 30 years, and you were looking to sail
off into the sunset and just pay your 15 percent and be done with it,
you’re not really looking at what’s going on right now in the market."