Shadow Palms Realty

08/09/2023

Lets all pray for our friends/family our loved ones and all of the people on Maui.

I quickly created this prayer and repeatedly pray it to God in the name of Jesus Christ and the Holy Spirit, Will you all do the same, please.

Maui is an international vacation destination but most of all it is where thousands of people call home.
When this serious and dangerous disaster of fires is contained we must group together as a international community and help Maui.

“ Heavenly Father” we want to say thank you for all your beautiful blessings you’ve allowed us to enjoy here on earth and for the blessing you have prepared for us in Heaven.
Please forgive us for our sins as we forgive the sins from others to us. Please we beg of you give help to all the people on Maui make it through the current disaster ravaging the island put your love, healing and hands on them through the long upcoming healing process.
Keep them and us from straying In the wrong direction towards evil human, selfishness, and greed,  while leading us in the right direction for compassion to help each, and every other person around us, strengthen our hearts to want to take ourselves out of our own comfort to help others.
The island of Maui earth, Universe and the kingdom of heaven are yours And will remain forever and ever.
Amen.

07/20/2022

07/19/2022

Hello everyone friends and family somebody has hacked into my Facebook account and is trying to sell an RV for $1000 do not believe it it is a scam the only thing I sell is real estate.

05/12/2022

SPECIAL REPORT

Is There a Housing Bubble?

FOUR REASONS WHY THERE'S NOT A HOUSING BUBBLE IN THE U.S.

1. Under-Supply of Houses Today vs. Over-Supply of Houses in 2006-2007.

In the years leading up to the 2006-2007 housing bubble, we were building roughly 50% more homes than we needed every year. This resulted in an over-supply of homes in the US. In the decade leading up to the current housing situation, we were under-building homes to the point where we currently have a shortage of at least 5.5 million homes. This means we currently have an under-supply of homes in the US.

2. Millennials Buying Homes Today vs. Millennials Too Young To Buy Homes In 2006-2007.

When the 2006-2007 housing bubble burst, the millennial generation of homebuyers was too young to buy homes. During the decade after that, the millennial generation of homebuyers took longer to form their own households and buy their first homes than all the other previous generations. In the past few years, the millennial generation of homebuyers has just started to buy homes. In fact, 52% of adults aged 18-34 are still living with their parents. This means the demand among first-time homebuyers is likely to increase in the coming months and years.

3. People Were Losing Their Incomes And Jobs vs. A Very Strong Job Market Today.

When the 2006-2007 housing bubble burst, the economy crashed and many people lost their jobs. It took over six years for the unemployment rate to drop below 5% again. During the Covid recession, it took less than a year for the unemployment rate to drop back below 5%. In fact, there are more job openings in today's economy than at any point in the past 20 years, and wages are rising. This means that people have jobs and they can afford to buy homes.

4. Homeowners Were Over-Leveraged In 2006-2007 vs. Today When HomeOwners Are Very Much Under-Leveraged.

Many people who bought homes in 2006-2007 did so with little or no money down. When house prices started going down, they immediately had "negative equity" which means they owed a lot more on their mortgages than their homes were worth. This led to a lot of foreclosures. Compare that with today where over 42% of homeowners have more than 50% equity in their homes. This means that home prices would need to plunge by more than half their current value in order for most homeowners to be in a negative equity situation. This also means there is very little incentive for homeowners to go into foreclosure. That's one reason why the doom and gloom predictions of mass foreclosures after the pandemic never materialized.

10 Years...

That's How Long We've Been Under-Building Homes In The US.

This Is Why There's a Housing Shortage.

05/03/2022

1031 Exchange.

A basic premise of 1031 exchange is that the taxpayer who sells relinquished property must be the same taxpayer who buys replacement property. This usually means that the vesting is the same for both the relinquished and the replacement properties. For example, John Doe's name is on title to both properties involved in the 1031 Exchange.

However, there may be times when the party involved in the exchange would like to make a change in how the replacement property is held. For example, John Doe is on title to the relinquished property, but would like to take title to the replacement property in an LLC.

This is only allowable if the LLC is treated as a pass through entity, disregarded for tax purposes. The tax ID for the LLC will be the taxpayers social security number and there will be no need to file a separate return for the LLC.

This works for an LLC, but also for a revocable living trust, since living trusts can also be pass through entities for tax purposes.

1031 Exchange: Frequently Asked Questions

How long do I have to own my property before I can exchange it?
The longer the better. Unfortunately, there is no safe holding period for property to automatically qualify for an exchange. Keep in mind, the property only needs to be "held for investment" for it to be eligible for an exchange. Time of ownership is ONLY one factor at which the IRS looks at when determining if the property was "held for investment". In one private letter ruling (PLR 8429039), the IRS stated that a minimum holding period of two years would be sufficient. Although a private letter ruling does not establish legal precedent for all investors, there are many advisors who believe two years is a conservative holding period, provided no other significant factors contradict the investment intent.

Other advisors recommend that Exchangers hold property for a minimum of at least twelve months. The reason for this is twofold: (1) A holding period of 12 or more months means the investor will usually reflect it as an investment property in two tax filing years. (2) In 1989, Congress had proposed a one year holding period for both the relinquished and replacement properties. Although this proposal was never incorporated into the tax code, some believe it represents a reasonable minimum guideline.

Can I sell my duplex and purchase bare land?
Certainly. Properties involved in an exchange need to be held for either productive use in trade or business or for investment. Holding land for its future appreciation would be considered held for investment.

Can I purchase my replacement property first?
Yes; this requires that you do a reverse exchange however. The reverse exchange 'may' be an option provided you have the ability to structure the reverse exchange according to the safe harbor guidelines.

Can I move into a rental that I originally bought as part of 1031 Exchange?
Yes. However, please keep in mind that the property must first qualify for the 1031 Exchange. In determining if the property qualified the IRS will look at several factors including how long it was rented for and also your "intent". If the IRS feels your original intention when the property was acquired was to use it as a primary residence, you may have your exchange disqualified.

Do I have to reinvest ALL of my cash/equity?
No. However, any cash (equity) that is not reinvested in real estate will be taxable (and is known as cash boot).

How long do I have to complete my exchange?
180 days. However, also keep in mind you will be required to identify your potential replacement properties on day 45 of your exchange. Your timeline starts when you close escrow on the property you are selling.

Can I get an extension on my day 45 or day 180 deadlines?
No. The IRS only issues extensions in cases of a Presidential Disaster Declarations and the exchange has to have been directly affected by the disaster.

05/02/2022

Hello everyone a surprise came to me this weekend in that I was selected for the HomeSmart presidents club achieving the ranking of number 84 within the top 250 agents at HomeSmart in the entire country, it is because of the help and support from my wife family friends associates and my distinguished team mates that I was able to accomplish such a feat my first full year as a Realtor. I have great visions for the success of the team and our future and helping others. We live to serve and serve to live.

09/22/2021

Realtor, Closing more deals and making more money than you ever dreamed.

As iron sharpens iron, so one person sharpens another.
Proverbs 27:17

Hello Friends, I’m truly humbled and grateful for the privilege given to me of working with some of the top superstars in our industry and here at HomeSmart I’ve had the honor of being blessed in becoming one of the top performing agents throughout our community.

Hear me out, I am looking for agents to join me in this Journey to become one of the top power house groups in our profession, If you are an agent either new or seasoned with the drive and desire to make a difference in our community lets work together.

I want to share the secret sauce and help you achieve the levels you've only dreamed of.

People helping people, call me.

Harry Coleman
619-218-5673
[email protected]
www.shadowpalmsrealty.com
Living to serve, serving to live.

08/20/2021

It was an awesome luncheon yesterday, I never grow tired of breaking bread with my friends at HomeSmart my congratulations go out to Michael Valerio, Lea Perez, Sun City Sisters, Extra Mile team and all of the participating top 15 agents of the second quarter 2021 whether everyone knows it or not I've learned to become a better realtor and person just by being associated with you all. My special thanks go out to Mike Jeppson, Harold Zapata and Heather Rivera for your support and accolades to our success. Keep up the good work and continue to work hard everyone I am so proud to be a part of the HomeSmart team.
I continue to serve to live and live to serve.
Let's all do it again this quarter God bless everyone, Cheers.

06/24/2021

11 questions to ask when buying land.It’s always important to ask the right questions when you’re buying a piece of real estate, and that’s as true for land as it is for anything else.More information is always a good thing, especially when it comes to a big investment like a land purchase. And while your agent will be able to guide you through a lot of the ins-and-outs of what you’ll need to know, it never hurts to be as informed as possible regarding the various factors that will help you determine if a property is worth your time (and your money) or not.With that in mind, here are eleven essential questions to ask when buying land—including some that might not be very obvious.1. How is the property zoned? You’ll want to be well aware of what you can and can’t do on the property, especially if it’s raw or otherwise undeveloped land.

2. Are there any building restrictions? Similar to above, this tells you whether you’ll be restricted in what you can do on the land, particularly in terms of structural improvements.

3. What are the access rights? Make sure you know whether there’s an existing access road, as well as whether it’s publicly maintained and if anybody else has rights to it. 4. Are there any utilities and/or utility hook-ups? Figure out exactly what’s already available in terms of water, electricity, sewage, and other key utility systems—or if you’ll need to pay to put them in. 5. Are there any planned developments surrounding or near to the property? Find out in advance if there are any nearby updates that will affect your land use, your views, or your privacy.

6. Who are the neighbors? If possible, find out who owns the properties adjoining the piece of land and, most importantly, whether there are any ongoing issues with them over things like boundary lines or access rights.

7. Are there any easements on the land? You’ll want to know sooner rather than later if you’re going to have to share a portion of the land with neighbors, the public, a conservation group, or anyone else.

8. How much are the property taxes? Even vacant land is subject to property taxes. Get an estimate in advance of what the annual taxes are so that you can double check they fit in your budget.

9. Are there any tax exemptions on the land? Speaking of taxes, you should also ask about any possible tax exemptions, such as those for making certain agricultural or energy improvements on the land.

10. Is the seller offering financing? Land mortgages aren’t always as clear-cut as conventional real estate mortgages, and some sellers opt to provide their own financing instead in order to ensure a smoother deal. Ask if that’s the case, or if there are any other sort of seller finance expectations or concessions.

11. Is the title free and clear? A title check will tell you if the seller has the necessary title rights, but you can also ask in advance to save yourself some time later on.Asking the right questions when you’re buying land isn’t just about convenience. While sellers do have mandatory disclosures that they have to make, knowing what questions to ask gives you more agency to advocate for yourself—and it’s also integral to protecting your rights and your resources as a land buyer.