Dear Clients and Associates,
On behalf of the API family, I thank you for your patronage and support this past year. It was a rollercoaster year in the real estate industry, and particularly for 1031 exchanges. At present, I’m happy to say that there are no threats to 1031 exchanges from a regulatory standpoint. This is great news for the real estate industry because repeated proposals have sought to limit or eliminate 1031 exchanges in recent years.
I look forward to 2023 with anticipation and uncertainty as we watch the effect of increasing interest rates as the market corrects itself from record high valuations and heightened demand. I’m confident that whatever market challenges we face in 2023, they will not compare to the overall challenges we all faced beginning on March 15, 2020, and have successfully endured up to now.
We wish you and your families a joyous and safe Holiday Season, and look forward to working with you in 2023!
