This is just a quick note about issues involved with property held in a general partnership, limited partnership, or multiple member limited liability company and the complex problems that can arise when the underlying partners want to dispose of the real estate and subsequently structure a 1031 Exchange.
It is important to note that the entity itself (i.e. the partnership) is the owner of the property, and therefore any 1031 Exchange structure should be completed at the entity level. The underlying partners do not own an interest in real estate. The partners own an interest in the partnership (partnership interest), which is personal property and not real property.
There are solutions for these scenarios, but it generally takes advanced, proactive planning in order to properly structure a solution. I would recommend that you speak with your legal and tax advisors today if you already own property in a partnership or other separate entity in order to discuss how to restructure your ownership position now before it becomese a problem at the time of actual disposition.
Wednesday, December 09, 2009
Friday, November 27, 2009
Happy Thanksgiving!
Everyone here at The Exeter Learning Institute wishes you and your family a very happy, healthy and prosperous Thanksgiving. We have much to be thankful for during these trying times, and now that the real estate market is beginning to show signs of life once again, we wanted to remind everyone how much we should truly be thankful for.
Happy Thanksgiving!
Happy Thanksgiving!
Wednesday, November 25, 2009
The Reality of the California Real Estate Market: Siftings From the Tea Leaves of a Demographic Guru Webinar
Go To Webinar Registrations Are Required
Click here to register for this webinar on the California real estate market.
Confused About What To Do Next in Real Estate?
The "Great Recession" has left many of us scratching our heads and wondering what's next? Where do we go from here? How should we reposition our real estate portfolio going forward now that we are emerging from recession? Should I hang tight, or make an investment move now?
We realize these are confusing times, which is why Exeter 1031 Exchange Services, LLC is hosting this webinar for you. Our goal is to provide you with up-to-date real estate market data and information so that you can make better informed investment decisions.
"The Nation of California: An Almost Flat Line in 2009"
This exciting webinar will provide an update on the California real estate market and an overview of certain demographic trends that will affect investment property in the California real estate market. It will help you answer the above questions, and help you decide how to position your own investment portfolio as we move forward beyond the recession.
Hosted by:
William L. Exeter
President and Chief Executive Officer
Exeter 1031 Exchange Services, LLC
Presented by:
Alan N. Nevin
Director of Economic Research
MarketPointe Realty Advisors
Date and Time
December 1, 2009
8:55 AM PDT Login
9:00 AM — 10:00 AM PDT Webinar
Go To Webinar Registrations Are Required
Click here to register for this webinar about demographic trends in California.
Click here to register for this webinar on the California real estate market.
Confused About What To Do Next in Real Estate?
The "Great Recession" has left many of us scratching our heads and wondering what's next? Where do we go from here? How should we reposition our real estate portfolio going forward now that we are emerging from recession? Should I hang tight, or make an investment move now?
We realize these are confusing times, which is why Exeter 1031 Exchange Services, LLC is hosting this webinar for you. Our goal is to provide you with up-to-date real estate market data and information so that you can make better informed investment decisions.
"The Nation of California: An Almost Flat Line in 2009"
This exciting webinar will provide an update on the California real estate market and an overview of certain demographic trends that will affect investment property in the California real estate market. It will help you answer the above questions, and help you decide how to position your own investment portfolio as we move forward beyond the recession.
Hosted by:
William L. Exeter
President and Chief Executive Officer
Exeter 1031 Exchange Services, LLC
Presented by:
Alan N. Nevin
Director of Economic Research
MarketPointe Realty Advisors
Date and Time
December 1, 2009
8:55 AM PDT Login
9:00 AM — 10:00 AM PDT Webinar
Go To Webinar Registrations Are Required
Click here to register for this webinar about demographic trends in California.
Tuesday, November 24, 2009
Fannie Mae Housing Forecast for 2010
Fannie Mae's housing forecast projected New and Existing Home Sales will be UP 11% next year, with prices flat but stable nationally.
2010: Existing Home Sales Up 10%; New Home Sales Up 24%
They see Existing Home Sales UP 10% (5.46 million), and New Home Sales UP a whopping 24% (498,000) for 2010. The report unequivocally states:
In fact, the 23.3% boost in the annualized rate of home sales in Q3 was the largest in over twenty years. The analysis also noted that new-home inventories have dropped steadily since May 2007 and are now at their lowest levels since 1982.
2010: Existing Home Sales Up 10%; New Home Sales Up 24%
They see Existing Home Sales UP 10% (5.46 million), and New Home Sales UP a whopping 24% (498,000) for 2010. The report unequivocally states:
It appears that the economic recovery is here.
In fact, the 23.3% boost in the annualized rate of home sales in Q3 was the largest in over twenty years. The analysis also noted that new-home inventories have dropped steadily since May 2007 and are now at their lowest levels since 1982.
Wednesday, October 14, 2009
More Good Economic & Market News
ISM Non-Manufacturing Index Rose to Best Level Since August 2008
The ISM Non-Manufacturing index rose to a better-than-forecast 50.9 in September from 48.4 in the previous month. This is the first time since August of 2008 that the index moved above 50, which is the level that separates growth (greater than 50) from contraction (less than 50). Indexes of orders and business activity advanced the most. While the employment index edged up modestly, it continues to remain at a level indicating contraction (44.3).
Employment Claims Improve
Latest claims data swung back toward modest improvement with both claims figures at new lows since the cyclical peak earlier this year. Initial Jobless claims fell 33k to 521k while continuing claims fell 72k to 6.04mm. It is likely that the continued downward drift in continuing claims represents exhaustions of eligibility for regular benefits rather than actual rehiring. Additionally, given the volatility of the data, we look for continued declines rather than reading too much into one week.
Trade Deficit Narrows
The trade deficit narrowed in August by $1.2bn to -$30.7bn, contrary to expectations of a modest further widening. Exports inched up 0.2% following three months of increases averaging 2% per month. Imports swung to -0.6% in August following large increases in June and July, with imports of crude oil being the primary driver on both sides of this swing. In real terms, the deficit narrowed by $1bn. This reduces, but does not eliminate, the likelihood of a trade drag on Q3 GDP growth.
The ISM Non-Manufacturing index rose to a better-than-forecast 50.9 in September from 48.4 in the previous month. This is the first time since August of 2008 that the index moved above 50, which is the level that separates growth (greater than 50) from contraction (less than 50). Indexes of orders and business activity advanced the most. While the employment index edged up modestly, it continues to remain at a level indicating contraction (44.3).
Employment Claims Improve
Latest claims data swung back toward modest improvement with both claims figures at new lows since the cyclical peak earlier this year. Initial Jobless claims fell 33k to 521k while continuing claims fell 72k to 6.04mm. It is likely that the continued downward drift in continuing claims represents exhaustions of eligibility for regular benefits rather than actual rehiring. Additionally, given the volatility of the data, we look for continued declines rather than reading too much into one week.
Trade Deficit Narrows
The trade deficit narrowed in August by $1.2bn to -$30.7bn, contrary to expectations of a modest further widening. Exports inched up 0.2% following three months of increases averaging 2% per month. Imports swung to -0.6% in August following large increases in June and July, with imports of crude oil being the primary driver on both sides of this swing. In real terms, the deficit narrowed by $1bn. This reduces, but does not eliminate, the likelihood of a trade drag on Q3 GDP growth.
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