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October, 2008 - Newsletter for the Maui Market
Aloha! Here is your eNewsletter for the Maui Market from Jim Foster
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Make sure you check out the Useful Internet Sites and Real Estate Tips at the end of this newsletter which includes some valuable information.
Don't forget! We provide a free Automatic E-mail Notification Service that goes out to recipients whenever a new listing becomes available for a particular condominium complex. Each of these notifications includes a link to view the details of the brand new listing in the MLS. We DO NOT SHARE YOUR EMAIL ADDRESS or your contact information with anyone. To subscribe to our Automatic E-mail Notification Service, please send Won an email at Won@JamesBFoster.com with your first and last name, your email address, and the condominium property you wish to be notified of.
Another service we provide is the Condominium Real Estate Market eUpdates which is sent out periodically to inform potential buyers and owners of specific condominium properties about the real estate market activities at those properties. This service is provided exclusively for those who own a condominium property or who are interested in a particular condominium complex on West Maui. If you would like to subscribe to the Condominium Real Estate Market eUpdates for a particular complex or to get a list of all condominium properties that are included in the eUpdates, email Won at Won@JamesBFoster.com.
Maui Real Estate - Buyers are looking but being very cautious. Prices on Maui have been on a slight downward trend and we may be looking at the market continuing to soften for another 18 to 24 months depending on what the overall economy does and how lenders respond. Buyers realize that prices have come down substantial since the peak and conditions continue to improve for buyers.
 The volume of house and condominium sales dropped sharply in August, according to Multiple Listing Service statistics released by the Maui Association of Realtors on Wednesday. Both median and average prices are down 7 percent for single-family homes so far this year. But the average price is up 25 percent for condos and the median for condos is up 10 percent. Terry Tolman, Chief Staff Executive of the Association, cautions that because Maui's real estate market is small, compared to Oahu's, monthly averages can show abrupt swings that are smoothed out in quarterly or annual averages. Augusts’ total of 65 single-family closings was not the lowest of this year. January was the lowest with 57. Numbers then recovered and varied between 75 and 97 until August. Condo transactions dropped to 50 in August, the lowest this year. They have slowed greatly in the second half. In the first six months, there were 84 to 95 monthly closings, dropping to 55 in June and 63 in July. Another indication, aside from price, of the state of the market is the average number of days on market before a contract is agreed. For single-family houses, the number rose to 211 days, the first time it has been over 200 for years and about double what it was before the market starting cooling off last year. However, the condo trend, as with prices, was the reverse. Days on market in August were 138, almost the shortest this year and lower than any month since September 2006. For August, the median single-family transaction was $625,000, down from $640,000 the year before. For condos, the median was $632,500 in August, compared with $592,000 the year before. At the median, half sold for more, half for less.
To view the 2007 & 2008 Year End Statistics go to www.JamesBFoster.com and click on the tab Condo Sales then scroll down to Maui MLS Statistics 2007 & 2008 and click to open the ADOBE pdf.
The West Maui real estate market continues to favor Buyers with Sellers willing to negotiate their prices. The current inventory of West Maui condominiums for sale is now at 673 and on the same month in 2006 it was 408. Properties are requiring more time to sell such as five to six months and Buyers have a much larger inventory of properties for sale to choose from. If you’re curious about current trends in Maui real estate and where the market is headed, the answer is - it depends on Location - it depends on if it is condominium or single-family residential - it depends on whether you look at volume, average or median prices. In the current Maui real estate market, the for sale inventory continues to increase and prices are typically flat or have decreased.
Condominiums for Sale - In the West Maui real estate market, at the beginning of January, 2007 - 410 condominiums were listed for sale with the total value of $372,238,031.00; February, 2007 - 431 condominiums with the total value of $393,681,669.00; March, 2007 - 458 condominiums with the total value of $420,941,268.00; April, 2007 - 479 condominiums with the total value of $429,708,159.00; May, 2007 - 472 condominiums with the total value of $424,095,260.00; June, 2007 - 455 condominiums with the total value of $415,187,129.00; July, 2007 - 475 condominiums with the total value of $432,797,008.00; August, 2007 - 469 condominiums with the total value of $420,479,301.00; September, 2007 - 474 condominiums with the total value of $430,914,408.00; October, 2007 - 471 condominiums with the total value of $423,631,002.00; November, 2007 - 466 condominiums with the total value of $416,008,907.00; December, 2007 - 485 condominiums with the total value of $421,080,117.00; January, 2008 there were 511 condominiums with the total value of $445,656,447.00; February, 2008 there were 559 condominiums with the total value of $500,946,603.00; March, 2008 there were 595 condominiums with the total value of $529,779,322.00; April, 2008 there were 647 condominiums with the total value of $606,635,687.00; May, 2008 there were 634 condominiums with the total value of $583,391,821.00; June, 2008 there were 644 condominiums with the total value of $590,736,279.00; July, 2008 there were 680 condominiums with the total value of $662,919,268.00; August, 2008 there were 703 condominiums with the total value of $693,069,348.00; September, 2008 there were 693 condominiums with the total value of $654,411,079.00; and at the beginning of October, 2008 there are 673 condominiums for sale in the West Maui area with the total value of $620,032,454.00. The condominium for sale inventory since July, 2005 has been as low as 165 and is up to 673 for October 1, 2008. The “for sale” inventory on West Maui continues to increase.
Condominium Sales in 2006 - The total condominium sales for West Maui during the month of January, 2006 there were 42 sales and the total value was $28,574,643.00; for February, 2006, there were 48 sales with total value of $32,995,078.00; for March, 2006 there were 40 sales with total value of $32,199,584.00; for April, 2006 there were 43 sales with total value of $41,898,525.00; for May, 2006 there were 51 sales with total value of $39,644,886.00; for June, 2006 there were 40 sales with total value of $32,533,500.00; for July, 2006 there were 30 sales with total value of $26,212,000.00; for August, 2006 there were 28 sales with total value of $31,885,500.00; for September, 2006 there were 30 sales with total value of $24,770,000.00; for October, 2006 there were 29 sales with total value of $23,359,299.00; for November, 2006 there were 22 sales with total value of $13,414,600.00; and for December, 2006 there were 30 sales with total value of $23,169,999.00. For 2006, the monthly average sales were 36 sales per month with the average sales value of $29,221,468.00 per month.
Condominium Sales in 2007 - The total condominium sales for West Maui during the month of January, 2007 there were 37 sales and the total value was $33,091,000.00; for February, 2007 there were 26 sales with total value of $16,330,000.00; for March, 2007 there were 32 sales with total value of $24,121,000.00; for April, 2007 there were 27 sales with total value of $16,766,000.00; for May, 2007 there were 28 sales with total value of $30,774,929.00; for June, 2007 there were 28 sales with total value of $18,917,000.00; for July, 2007 there were 21 sales with total value of $13,314,200.00; for August, 2007 there were 32 sales with total value of $33,258,999.00; for September, 2007 there were 23 sales with total value of $24,701,900.00; for October, 2007 there were 42 sales with total value of $28,159,900.00, however this included a packaged sale of 19 units at Aina Nalu in Lahaina; for November, 2007 there were 15 sales with total value of $15,930,000.00; and for December, 2007 there were 13 sales with total value of $13,335,500.00. For 2007, the Month of December has seen the lowest number of sales in 2007. The monthly average sales were 27 sales per month with the average sales value of $22,391,702.33 per month.
Condominium Sales in 2008 - The total condominium sales for West Maui during the month of January, 2008 there were 20 sales and the total value was $16,186,800.00; for February, 2008 there were 20 sales and the total value was $14,414,584.00; for March, 2008 there were 26 sales and the total value was $20,079,000.00; for April 2008 there were 28 sales and the total value was $ 20,488,500.00; for May 2008 there were 22 sales and the total value was $20,055,000; for June 2008 there were 14 sales and the total value was $11,957,000; for July 2008 there were 10 sales and the total value was $6,955,999; for August 2008 there were 13 sales and the total value was $8,055,000; and for September 2008 there were 11 sales and the total value was $6,017,122. The average monthly sales were 18 sales per month with the average sales value of $13,801,000.56 per month.
The total condominium sales for August, 2005 was 52; September, 2005 - 58; October, 2005 - 38; November, 2005 - 48; December, 2005 - 47; January, 2006 - 42; February, 2006 - 48; March, 2006 - 40; April, 2006 - 43; May, 2006 - 51; June, 2006 - 40; July, 2006 - 30; August, 2006 - 28; September, 2006 - 30; October, 2006 - 29; November, 2006 - 20; December, 2006 - 30; January, 2007 - 37; February, 2007 - 26; March, 2007 - 32; April, 2007 - 27; May, 2007 - 28; June, 2007 - 28; July, 2007 - 21; August, 2007 - 32; September, 2007 - 23; October, 2007 - 42; November, 2007 - 15; December, 2007 - 13; January, 2008 - 20; February, 2008 - 20; March, 2008 - 26; April, 2008 - 28; May, 2008 - 22; June, 2008 - 14; July, 2008 - 10; August, 2008 - 13; and September, 2008 was 11.
We have gone in to the Maui MLS database and pulled information for 2000 through 2008. In 2000 - 654 condominium units sold in the West Maui area for a total value of $209,064,010; in 2001 - 605 condominium units sold for a total value of $271,681,337; in 2002 - 730 condominiums sold for a total value of $240,178,915; in 2003 - 737 condominiums sold for a total value of $319,748,466; In 2004 - 700 condominiums sold for a total value of $375,033,467; in 2005 - 682 condominiums for a total value of $408,582,315; in 2006 - 435 condominiums for a total value of $351,782,614; in 2007 - 327 condominiums for a total value of $271,290,428.00. In 2008, from 1/1/08 to 9/31/08 - 164 condominium units sold in the West Maui area for a total sales value of $124,207,005.00.
For previous condo sale details, go to our web site, http://www.jamesbfoster.com/condosales.php then scroll down to your choice and click to open the ADOBE pdf. For the time period of 1/1/2008 to 7/31/2008 the average price for a home on Maui was $891,609 which is down 7% for the time period of 1/1/07 to 7/31/07 when the average price was $957,627. For the same time period the average price for a Fee Simple condo on Maui was $994,244 which is up 30% for the same time period when the average price was $763,755 according to the RAM (Realtor Assoc. of Maui) statistics. Condo sales in Wailea, Makena, Kapalua and Kaanapali are having an impact on the Fee Simple Condo average price by increasing it.
Mortgage Rates for week of October 1, 2008 - from First Hawaiian Mortgage - Rates: Houses & Condos Full docs: 5.875% 30yr fixed 1.75 pts (6.127 APR) 6.125% 30yr fixed 1.25 pt (6.332 APR) 6.5% 30yr fixed No Points (6.591 APR) Stated Income: 7.125% 30yr fixed 1.0 pt (7.323 APR) 6.625% 15yr fixed 1.0 pt (6.938 APR) Interest Only: 6.625% 30yr fixed 1.0 pt (6.8 APR) 7% 30yr fixed No points (7.094 APR) To $1M: 7.25% 30yr fixed No Points (7.338 APR) 6.375% 30 yr fixed 1.25 points for condotels.(6.585 APR) (Points include origination fee)
Mortgage Rates As of August 29, 2008 - from First Hawaiian Mortgage - Condotel Rates: Full Docs: 6.25% 30yr fixed 1.0 pt (6.38 APR); 6.50% 30 yr fixed No Pts (6.57 APR); Stated Income: 6.375% 30 yr fixed 1.0 pt (6.50 APR); FHA: 6.375% 30 yr fixed No Pts (6.40 APR); VA Purchase: 6.50% 30 yr fixed No Pts (6.51 APR); Jumbo-Conf: 6.625% 30 yr fixed No Pts (6.70 APR).
Mortgage Rates for week of August 26, 2008 - from First Hawaiian Mortgage - Rates: Houses & Condos Full docs: 5.875% 30yr fixed 2.0 pts (6.154 APR) 6.125% 30yr fixed 1 pt (6.310 APR) 6.375% 30yr fixed No Points (6.466 APR) Stated Income: 7.125% 30yr fixed 1.0 pt (7.322 APR) 6.50% 15yr fixed 1.0 pt (6.812 APR) Interest Only: 6.625% 30yr fixed 1.0 pt (6.8 APR) 7.15% 30yr fixed No points (7.22 APR) To $1M: 7.15% 30yr fixed No Points (7.22 APR) Condotels: 6.875% 30 yr fixed 1.5 pt (7.12% APR) (Points include origination fee)
If you would like to view the most current sales statistics for Maui or West Maui Condominiums, you can go to my web site www.JamesBFoster.com and click on Condo Sales in the upper left corner of the home page or go to www.JamesBFoster.com/condosales.php.
Some recent and past news about what is going on in Maui & Hawaii
Weather - As I am writing this newsletter today, Oct 1, 2008, it is predicted to reach about 87 degrees and beautiful, sunny weather. The next ten days we are expecting stronger winds and predictions for some rain possibly by Tuesday of next week but the weather is great and the balance of the year is expected to be on the dry side.
Illegal Immigrant Crack Down in Hawaii – The state of Hawaii is running TV ads indicating they will be enforcing laws regarding illegal immigrants. Federal agents arrested 21 illegal immigrant workers early Monday morning at the Honua Kai condominium construction site, the second such raid at the same site in a little more than a month, according to U.S. Immigration and Customs Enforcement officials. There have also been several instances of checking the status of restaurant workers in surprise visits.
Maui County Tourist Count Drops in 2008 Maui County had approximately 200,000 visitors in July - a drop of 22%. Oahu was down 12.2 percent to 390,362. Spending also dropped with Maui island at $233.8 million, down 27.4 percent. The state is taking heart from growth in foreign markets, by double-digit percentages in the case of travelers from Oceania and Canada. Although Maui's Canadian visitors have jumped more than 10 percent this year, the county's visitor market is predominantly domestic. In July, domestic arrivals outnumbered international by 179,911 to 18,209. International arrivals held up better, but despite the contribution of Canadians they still were down 13.8 percent. The Maui Visitors Bureau has worked to expand Maui's catchment area away from the western states. This year they have had some success with eastern states at more than 400,000 and visits from western states are more than 600,000. Both are down by equal percentages, though - about 14 percent. Canada has contributed 112,138 to Maui's total head count of 1,414,051. That's a drop, year-to-date, of 10.9 percent. The complete report is at www.hawaii.gov/dbedt/info/visitors-stats/visitor-research.
West Maui’s Coffee Harvest Celebrate – The Maui Grown Coffee Company held a New Crop Harvest Celebration at the company store, located at 277 Lahainaluna Road next to the old Pioneer Mill smokestack September 20th. Keoki Freeland spent his younger days toiling in the pineapple fields, then several years in the sugar industry in Hawaii, and then to his position as manager and vice president of Pioneer Mill to its final days. Keoki Freeland and Kimo Falconer put their educated minds together (Keoki graduated from Notre Dame with a degree in engineering and brought a scientific approach to coffee production to the Hawaii table and Kimo Bachelor’s Degree in Crop Science from Cal Poly San Luis Obispo) and just above Kaanapali Resort and surrounding the old Pu’ukoli’i settlement, a new crop began to take root in the red soil of those graceful slopes. Working alongside Freeland during this time, the pair of agricultural minds researched several different crops for their viability in the West Maui foothills and they decided on Coffee. Kimo Falconer formed Maui Grown Coffee in 2003, and today there are 350 acres of coffee trees on those Kaanapali foothills and this year they will harvest about 150,000 pounds of coffee beans to send out to roasters all over Maui. For more information, call 661-2728 www.mauigrowncoffee.com
Hamakua Biomass Energy – On the big island of Hawaii, a grove of eucalyptus trees on Kamehameha Schools’ land at Hamakua is a potential fuel source for a biomass generating plant planned by Hamakua Biomass Energy LLC. An environmental assessment is being prepared on the proposal that would rely on fast-growing eucalyptus which mature in six to eight years and 13,000 acres of mature trees came up for lease at the end of 2007. A 30-megawatt biomass plant in this area could supply more than 15 percent of local needs, compared with the 10 percent that Kaheawa contributed last year to Maui Electric Co. Biomass, unlike wind, is firm power, available all the time. Hamakua's four-story boilers would use an internal recirculating fluidized combustion technology. Wood would be chipped into 3-inch pieces, which will be blown up the combustion chamber, burning and rising in a hot, swirling stream. The forced air plus quick and complete combustion results in a comparatively small volume of ash. Emissions are low compared to petroleum generators, and very low in sulfur. Gilliland said the sulfur compounds are expected to be only 4 percent of the emissions from MECO's combined cycle turbines at Maalaea, the cleanest fossil-fuel generators on Maui.
Haleakala Highway Widening Project Completed - The new 5.5-mile stretch of four-lane, divided highway will give drivers headed downhill more breathing room. The uphill portion of the highway will continue to have the old "third lane" attached and the state will turn it into a hatch-painted median. While plans originally called for digging up the lane and planting grass, the state decided instead to keep it for use as a safety zone or future passing lane. Construction of the two phases took four years. Hawaiian Dredging Construction Co. had the $36 million construction contract.
Maui Occupancy Rates Drop – The rates have dropped for hotels to 67.8% in July this year and had been 80.3% in July, 2007. They are not expected to recover until possibly 2009 and the industry is not expecting a happy holiday season. August and September numbers are expected be low also but September is expected to slump and that comes with families getting children back to school. A combination of high airfares, fewer flights and an overall decline in consumer confidence is causing a negative impact on the island's visitor industry. Maui and the Big Island especially by the shutdown of Aloha and ATA airlines, which accounted for 15 percent of the seats from the Mainland. The fact that the price of oil drove up ticket prices, in some cases to double what they had been a year earlier has compounded the problem. Usually, summer is a family vacation time on Maui but families faced with buying several tickets were deterred. Even the honeymoon industry is down 24.2%. The high end of the market was most affected, impacting the Neighbor Islands where the high-end resorts are concentrated. Wailea, the state's most expensive destination resort, saw occupancy drop from 76.5% to 67.2%. We are expecting improvement in 2009, continuing in to 2010. State Tourism Liaison Marsha Wienert predicts it will still be slow in 2009 but is expected to recover and start seeing gains again in visitors and expenditures by 2010 and 2011.
West Maui Mountains Watershed – A new web site has been launched by the West Maui Mountains Watershed Partnership. www.westmauiwatershed.org At the site you can view a large photo gallery of many rare and native plants, beautiful mountain scenery and information on places that many local residents have never seen. Additionally the site provides information about the West Maui Mountains Watershed Partnership and the work done to protect the watershed from invasive species. View the facts about how watersheds work, why they are important to Maui water supplies, the threats we have here in West Maui, and ways you can help.
Rusty Harpoon in Whalers Village has moved - The new location overlooks the 18th hole of Kaanapali Golf Resort and serves as its clubhouse. The doors opened on Sept. 6, 2008, and a grand opening celebration is scheduled on October 10th. For sports fans, The Rusty Harpoon will have 14 state-of-the-art, HD flat screen televisions with surround sound, and all games will be broadcast live. The dining room seats 214, up from 189 at the original facility in Whalers Village. They will handle food and beverage responsibilities for the Kaanapali Golf Resort’s golf carts and snack shops. The new hours are 8 a.m. for breakfast, followed by lunch service at 11 a.m. until 5 p.m. Happy Hour is available daily from 2 to 6 p.m., and dinner service will be offered from 5 to 10 p.m. with a late night menu available from 10 p.m. to 12:30 a.m. For information, call 661-3123 or visit www.rustyharpoon.com The new restaurant expected to be going in to the old location will an operation of DK Restaurants that operates the Sansei which opened in March of 1996 at Kapalua Resorts, Maui, with additional restaurants opening in Honolulu and Kihei, Maui in 2000 and 2002 respectively.
Tom Scott owner of Scott Bros Pacific Inc – Tom’s firm Scott Bros Pacific Inc did a renovation facelift to the buildings and containers at the campus Athletic Field at Lahainaluna High School. They came in and painted inside and out of the utility building and the industrial containers at the facility. They also repaired the steps, railings and walkways at the site and had two “LUNAS” signs made for display on the face of the containers. The work was done at no cost to Lahainaluna. Sherwin Williams donated the paint, and Terry Ney at Electric Signs presented the placards at a discounted rate picked up by the Scotts. Tom is well known in the Lahaina area for his honesty and ethics as a contractor and sub-contractor. Tom’s son Ty, the eldest of three kids is a junior at Lahainaluna and is now 15 years of age. When Ty was 9 years old he was diagnosed with cancer which he went through a difficult treatment for and is now cancer free. Ty is on the Lahainaluna football team and an honor student.
Medical Facilities on Maui - The Association for Improved Healthcare on Maui (AIHM) http://www.aihm-maui.org whose mission is to serve as an advocate for the creation of a system that will provide improved healthcare services to all of the citizens and visitors of Maui County has been making some excellent progress. For more information on making a contribution to this great cause, please visit the web site for AIHM at www.aihm-maui.org/ourfriends.htm. To stay informed of what is transpiring with future approvals of either the Kihei or West Maui hospital, you can send me an email and request a subscription to the “Coconut Wireless” to either my email at Jim@JameBFoster.com or Jan@SunshineRainbows.com
Jan Shields - Running for Office - http://www.JanShields4Senate.com Go to this web site to read more
Real Estate & Financial Planning Tips:
Replacement Property for IRC Section 1031 Tax Deferred Exchanges – When selling property and doing a tax deferred exchange the Seller has several options relative to investment property for the replacement property. In addition to various property such as investment land, apartments, retail, office, industrial and others there are options such as Tenant In Common Investments (TICs) and investments know as the Delaware Statutory Trust (DSTs).
What is the difference between exchanging an investment property for a Tenants In Common or Delaware Statutory Trust investment and simply exchanging for another sole-owned property? The difference is the financial and lifestyle objectives of the real estate investor. The investor needs to answer the following question, "Do I want to continue to manage property, or do I want to delegate the day-to-day management to professionals?"
The TIC structure includes professional property managers to take care of the mundane tasks of collecting rent, performing maintenance, and interfacing with tenants, while still allowing the investor to participate in the major decisions. By exchanging for a fractional interest in a Tenants In Common property, the investor gains access to larger, institutional-grade properties, such as an office building, a drug- or grocery-anchored shopping center, multifamily apartment community, warehouse/distribution, or industrial property valued anywhere from $5 million to over $150 million. Investors can also diversify their equity among several property types and geographic locations through fractional ownership
What is a Delaware Statutory Trust? A Delaware Statutory Trust, also known as a DST, is an unincorporated association governed by a trust agreement. The DST has a separate legal existence and can conduct business in its own name, including the purchase of commercial real estate. DSTs offer a unique combination of flexibility and asset protection, and can also qualify to complete a 1031 exchange.
A Delaware Statutory Trust, also known as a DST, is an unincorporated association governed by a trust agreement. The DST has a separate legal existence and can conduct business in its own name, including the purchase of investment real estate. DSTs offer a unique combination of flexibility and asset protection.
What are the rules of a 1031 exchange?
- Your new property must be of equal of greater value.
- You must reinvest all of the equity from your old property into your new property.
- For tax deferral on all capital gains, you must not directly receive any funds from the sale. You can receive funds from the sale, but will pay taxes on any funds received.
- You must identify a replacement property within 45 days of the close of escrow on the old property.
- You must close on the new property within 180 days of the close on the old property. (TIC investments can be ideal choices as they close quickly.)
What are the potential benefits of a 1031 exchange?
- Investors can defer capital gains and depreciation recapture taxes.
- Investors can harvest dormant equity at predictable intervals to maximize the inherent benefits of real estate investments.
- Depending on the specifics of your particular 1031 exchange, the tax dollars you defer can be invested elsewhere, potentially increasing cash flow and net worth.
If you choose to structure your 1031 Exchange as a Tenants In Common or Delaware Statutory Trust investment, you can eliminate the headaches of day-to-day property management.
Legal Services on Maui - If you need to establish a trust for your Maui property, set up a Limited Liability Company, or need legal assistance for preparing legal documents and require a Maui or Lahaina attorney, Gary Robert has had a legal practice here for many years and is a good source for those requiring legal related services. He can be reached by phone at 808-667-7741, address is 808 Wainee St., Suite 201, Lahaina, HI, 96761 Fax is 808-667-7550 and Email grlaw@hawaiiantel.net
We receive calls on a regular basis and provide letters of Market Value at the time of death to assist in the Probate process for owners of Hawaii real estate. It is always unfortunate when estate planning has not been done and the tax liability has to be dealt with in a short period of time.
Take the time to review with your current financial plans and also estate plans with your advisors. If you do not have trusted advisors ask friends and business associates for recommendations because in the long run it may be the best investment you will make.
In past newsletters, I have mentioned that the easiest way to minimize the tax impact when selling is to do a tax deferred exchange. If you have questions about tax deferred exchanges give us a call. If you are considering selling your property in Hawaii, a tax deferred exchange will exempt you from the 5% HARPTA withholding and also the Federal Capital Gains Tax. Planning in advance for the disposition or acquisition of assets is always a wise decision. Another invaluable tool for sellers in doing a tax deferred exchange is having the option of using tenant-in-common (TICs) for qualifying for replacement properties. Many property owners who currently own underperforming assets can sell those assets, taking advantage of tax deferred exchanges, and turn an underperforming asset such as land into an income producing asset. Call me or send me an email if you would like additional information at 808-661-7994 or email Jim@JamesBFoster.com
If you are contemplating selling highly appreciated real estate during 2008 and would like for us to provide an analysis of how to best structure your transaction, please call us at 1-888-661-7994 or send us and email at Jim@JamesBFoster.com
Useful Internet Sites:
www.facemorpher.com They should call this neat trick "Morphing Made Easy". Now it’s you – next it's someone else – you got blown away! This trick is easy and will astound you and your friends! Morphing is the process of creating a smooth animated transition from one picture into another. This site allows you to morph the images of one face into another. It's a startling effect and produces a great animation like those that are used in million-dollar movies. The big difference is that you don’t need to be a big time move producer and you don’t need a million dollars – this one is simple to use and it's on the house!
www.slydial.com Do you ever find yourself short on time? Do you ever want to avoid an awkward conversation or not want to bother someone? Would you like to by-pass a conversation and simply leave a voice mail? We'd guess that you can find situations just about every day where this cleaver trick will be helpful to you! This skullduggery easily connects you directly to someone's mobile voice mail without the recipient's phone even ringing. There's no registration required, it works like a charm if you are calling from an unblocked line and it's all yours without cost! Even James Bond couldn't do this!
www.gopingme.com Want to remind yourself of the next big "can’t miss" event or chore? These folks take a unique approach to keeping track of things you need to do - it's mobile and interactive. You just note something you want to remember, set a date and you'll receive a reminder by e-mail or text message to your phone. You can also set the reminder to pester you in time increments of your choice and can easily get the reminder off your back or modify it right from your phone. Still in beta but an interesting enough blend of web, mobile and utility to note!
www.passwordbird.com Do you go with easy to remember passwords that are ripe for the bad guys to crack? If so here's a neat place to generate a strong password that’ll be easy for you to remember but tough to crack. This little on-line program generates random passwords from the information you provide. The result is a hard to crack phrase that is familiar and easy for you to remember. And you can make the generated passwords even tougher by capitalizing the first letter that appears in the password produced. Good way to lock the door!
Kindest Regards, Jim Foster
Chase 'N Rainbows Real Estate, Inc.
Toll Free 888-661-7994
Direct Line 808-661-7994
Cell 808-870-5858
Fax 808-667-2957
Real Estate for Sale www.JamesBFoster.com
Vacation Rental www.ChaseNRainbows.com
Email Jim@JamesBFoster.com
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