 
WELCOME
From CarlaWe are seeing a positive start to the 2007 “season” for the real estate market here in Southwest Florida. Our agents are receiving more inquiries on the wide selection of excellent properties listed for sale. They also are seeing more people attending showings of the homes and condominiums that are on the market.
The activity in January and February 2007 represents a considerable increase in “action” from November and December, 2006. Buyers are continuing to enter this market because of all the region has to offer; plentiful sunshine, sandy white beaches, warm winters, and an array of cultural and social activities.
It is true that we have seen a “leveling off” in the real estate market over the past year, but it is also apparent that this “leveling off” period may be nearing an end. The buying pace is certainly picking up in both Lee and Collier Counties. If you are considering purchasing a primary single family home or a secondary condominium, now is the time to act. More buyers re-entering the market means the “deals” won’t last long.
Contact one of our real estate professionals today to start the search for your new home or condominium.
You may send your questions, comments, requests, and change of address to newsletter@carlabontenrealty.com. And don’t forget, if you would like to explore past issues of Communiqué you may visit our newsletter archive.
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 Ask
Carla!
Dear Carla,
My wife and I are thinking of selling our rental property in Southwest Florida, but we are concerned about losing a big chunk of our profit to the Capital Gains Tax. Is there any way to avoid this tax? My brother says we can steer clear of the tax if we buy another property. How is this accomplished?
Sincerely,
Tim
Dear Tim,
Your brother is most likely talking about what’s called a 1031 exchange, or a deferred exchange. IRS Code 1031 allows investors to sell their investment property and purchase another like property, without losing investment equity to taxes. This applies to income-producing properties, businesses, and bare land. To take advantage of the tax deferment, investors must adhere to strict IRS guidelines including, but not limited to the following:
- All properties must be investment properties, either for appreciation or income production.
- Within 45 days of the closing of a sale, the investor must prepare a list of potential purchase properties.
- Within 180 days from the sales closing, the investor must close on the purchase of another like property.
- The investor must use a Qualified Intermediary to prepare the legal documents for the exchange and to hold the money from the sale until the new purchase.
- In order to defer all of the capital gain taxes, the investor must buy property equal to or greater in value than the property sold --and reinvest all of the cash proceeds.
Remember, before making a1031 exchange, it is best to seek the advice of a real estate attorney or other real estate professional.
Sincerely,
Carla
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Top Tax-filing Tips
By: Mark Curtis, CPA
Naples, FL - 239-455-2235
mark@mecurtis.com
The April tax-filing deadline is approaching quickly and tax laws change every year. An example of one of this year’s changes is the phone excise tax credit. Here are some tips to making your tax-filing process smoother:
- Get organized. Use your prior year’s return as a guide. Items for the current year may include your W-2 form(s) for wages, 1099 forms for contract labor, interest, dividends and sales of securities. . If you have a business, a summary of your income and business expenses would be necessary. If you have rental property, a similar report of income and expense is required.
- Own your home? Itemize. You may have a form 1098 for your paid mortgage interest and real estate taxes. Sum up your medical bills. Locate all records of your charitable contributions. Know that the IRS requires more substantive information for non cash charitable deductions.
- Take your time. Don’t overlook deductions or credits for which you are eligible. Consider the tax benefits of a contribution to your IRA, SEP or 401K.
- Look over your return closely. Take the time to make sure that names are spelled correctly, Social Security numbers are right and all forms with withholding are attached. Don’t forget to sign the tax return.
- Double-check your math. Simple addition and subtraction errors are the most common mistakes on tax returns.
- Consider an extension. If you simply can’t meet the April 17 tax-filing deadline, request an automatic six-month extension. This is accomplished by completing Form 4868 and sending it to the IRS on or before the filing date. Remember, an extension is only for extending the filing date, not paying taxes. Your estimated tax balance is still due by April 17.
- Seek assistance. If you have questions about deductions or tax law, you may want to consult a tax professional. He or she can help you receive all the tax benefits that you deserve.
- Think ahead! It is never too early to start planning for next year. The tax-filing process can be made simpler and more effective, if you implement tax strategies before the year’s end.
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St. Patrick's Day
 St. Patrick was known as the patron saint of Ireland. Although he was not a born Irish, he did become an integral part of the Irish heritage --mostly through his service across Ireland of the 5th century.
This year, St. Patrick’s Day is celebrated on Saturday, March 17.
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Southwest Florida—A Healthy Place to Live!
While the clear blue waters of the Gulf of Mexico and sandy white beaches along the coast of Lee and Collier counties are pleasing to the eye, it’s the sunny skies and warm temperatures that are pleasing to the body.
If you want to stay healthy, Southwest Florida is a great place to do it! In the winter and spring, the area boasts lots of sunshine and averages temperatures in the 70’s. These superb conditions make it hard to stay inside with the air conditioning running and instead encourage people to get moving.
The region offers more than 170 golf courses for those who enjoy hitting the links. According to the National Golf Foundation, Collier County ranks second and Lee County is eighth in the nation for golf holes per capita.
If golf isn’t your sport, don’t worry there are plenty of other outdoor recreational activities to enjoy. The region is home to dozens of tennis courts for avid players, plenty of fishing opportunities for outdoor sportspeople, and a wide selection of hiking and walking trails for nature lovers.
Residents of Southwest Florida are lucky enough to enjoy the excellent weather year-round, but more and more visitors are getting to know the area, too. In fact, tourists from around the globe make their way to the region annually to enjoy the spectacular weather and numerous outdoor activities ranking Southwest Florida as one of the hottest vacation spots in the world according to many travel publications.
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Residential Financing
 By: Kyle Rayburn
Mortgage Banker
M&I Bank
239-390-8103
kyle.rayburn@micorp.com
When is the best time to decide to buy a new home or a second home? This is a decision many struggle with and the answer is simple. Outline your goals and set your own timetables. Base these decisions on your income, income potential and your dreams.
To accomplish this it is important to understand the housing market. Ask your real estate agent and find out what financial assistance is available to you. I know that the programs are vast at M&I Bank depending on whether it is a pre-owned home or a new home. Our construction program includes a one time closing; one interest rate; and even interest only. All are available. Construction programs are an M&I Bank Portfolio Product specialty. With a pre-owned home, you have a choice of several programs, either a secondary market or an M&I Bank Portfolio selection. We are also able to provide several choices to obtain the primary, secondary or investment property opportunity.
Housing costs will most likely continue to increase, so do your planning and set your goals now. Meeting with your financial specialists and your real estate agent are the best opportunities for you to obtain your dream home.
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Symbols of Easter
 Easter eggs and baby chicks have long been associated with the holiday of Easter. Since ancient time, eggs have been a symbol of spring and new life. Eggs also represent the rock tomb out of which Christ emerged when he arose again. The chick, hatching out of the egg, symbolizes new life or re-birth.
The Easter Bunny, rabbit, or hare, was a symbol of abundant new life in ancient times and reminds us of spring and new life.
 Easter Lilies also symbolize new life. The white blossoms represent the purity of Jesus. When we see Lilies emerging from the earth in the spring, we think of new life and the resurrection of Christ.
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AREA ACTIVITIES & EVENTS:
At The Phil
March 20-25 - Pops No. 3 The Great MGM Musicals takes audiences on an enchanting journey through some of those great, unforgettable MGM musicals. The lively performance features selections from the original versions of The Wizard of Oz, The Harvey Girls, Singin’ in the Rain, Show Boat and Meet Me in St. Louis.
April 3- 8 – Hairspray,  Broadway's Big Fat Musical Comedy Hit comes to The Phil. The Tony Award-winning phenomenon takes you back to 1962 Baltimore, as 16-year-old Tracy Turnblad sets out to dance her way onto TV’s most popular show. For more information call 239-597-1900 or visit us online at www.thephil.org
At The Barbara B. Mann
April 10-15 - Chita Rivera: The Dancer's Life comes to the stage direct from Broadway. The two-time Tony Award® winner Chita Rivera performs in a dazzling new musical that celebrates her astonishing career. For more information call 239-481-4849 or visit us online at www.bbmannpah.com
Naples Dinner Theatre
Hammerstein and Kern’s Showboat takes the stage March 8-April 22. Enjoy this lyrical masterpiece which covers the lives, loves, and heartbreaks of three generations of show folk on the Mississippi, in Chicago, and on Broadway. For more information call 239-514-STAR or visit us online at www.naplesdinnertheatre.com
Classic Chamber Concerts, Inc.
April 1-3 - Prize Winning Catch- Philadelphia Piano Quartet
Call 239-434-8505 for ticket information or online at
www.classicchamberconcerts.org
Old Florida Festival
March 31 & April 1 – The Old Florida Festival returns to the Collier County Museum at 3301 Tamiami Trail East. Enjoy the sounds, look, and colors of Florida's history. Come and experience re-enactments from early Native American through the days of pioneers. Call 239-774-8476 for more information.
Art in the Park
 April 7, 10am-4p -Naples oldest outdoor art festival celebrates its 50th anniversary season, by showcasing artwork from the Naples Art Association. See works from some of the finest artists in Southwest Florida during the event at Cambier Park in Naples. Call 239-262-6517 for more information.
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