The Mortgage Observer spoke to Kramer Levin partner Jay Neveloff this month. Mr. Neveloff, a 24-year veteran at the firm, told us what he’s hearing from his wide range of clients following November’s elections and what many of those clients are busiest doing with the end of the year fast approaching.
Recently, one of the questions I have been asked most frequently is what factor will have the most significant impact on the investment sales market in 2012. Interest rates could have the most profound impact on our market, particularly if they rise more quickly and to a greater degree than most people expect (which is not an outlandish assumption), but I believe taxes will have the biggest impact on market activity, especially the volume of sales. By taxes, I mean capital gains taxes or at least the anticipation of their rising.