Oklahoman
Real estate investment would go stagnant, commercial property go unimproved, and construction jobs go away if President Joe Biden succeeds in chopping the popular tax accounting regulation known as a 1031 tax-free exchange, some real estate specialists say. It could freeze the market, said Ford Price, managing partner of Oklahoma City brokerage Price Edwards & Co.
Section 1031 of the Internal Revenue Code encourages investment by letting sellers postpone paying capital gains taxes through a series of exchanges. Taxes only come due when there is a sale not followed by another purchase without reinvestment.
Biden wants to end the tax break for gains greater than $500,000 as part of his American Families Plan. It s part of his broader plan to finance child and elder care.
EDMOND The Edmond Economic Development Authority (EEDA) will host a series of virtual Economic Preview events that will feature insights from experts on the city s various real estate sectors. Th…
Draw the curtain and keep the lights out at Midwest City's Warren Theatre, which is headed to a sheriff's sale.
It never had a chance because of the coronavirus.
Arvest Bank foreclosed with MWC Warren Theatre Inc. owing $16,277,807.79, plus attorneys' fees, expenses and interest.
Interest is accruing at $3,830.33 per day, district court records show.
The court ordered the theater be sold at auction by the sheriff. It had not yet been scheduled for an upcoming sale as of Tuesday.
The theater, at 5905 SE 15 in Midwest City's Sooner Rose Shopping Center, had about a six-month run before the pandemic hit in March. It closed and, unlike some other movie theaters, it never reopened.
Wherever you go, a smart person once said or maybe a smart aleck once cracked there you are, so be smart, get cracking and go shopping right where you are.
Shopping in person? Go in town. Even if you're shopping at home online. Online doesn't have to mean across the country.
Not that I "shop," per se, but I do buy things almost everything online the past 10 months, and the lion's share from local stores. Not all. I pledge to do better. I hope you will, too.
Because we who do are the ones keeping local stores and shops going. That's something that some of us, amid the trauma of the coronavirus pandemic, didn't get at first.
"It seems the tide started shifting in November as customers made a concerted