The Cole Group is proud to welcome Stephanie Sikkema. She graduated from The Design Institute of San Diego with a Bachelors of Fine Arts degree in Interior Design. Stephanie´s design background adds one more element to the unique services The Cole Group can provide to each client with our own in house design consultant. Stephanie has an expertise in technology and transaction management and is a resource to help The Cole Group stay ahead of the curve. We utilize Relay, a newer web based transaction platform that is helping us transition into a greener more efficient office. This is one of many technical tools needed to assist our buyers in the purchase or sale of a home. Stephanie grew up in the Midwest and moved to San Diego in 2002. She lives in North County and loves spending time with her fiancé, fixing up their future home. She enjoys the outdoors, photography, building homes with habitat for humanity, and surfing.

www.coastalhomeinfo.com or www.coastalhomedeals.com

11/21/2008 -- Jeff Cole of Windermere Exclusive Properties has successfully completed the REALTOR e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered through the National Association of REALTORS.^®

The REALTOR e-PRO certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

With more than 70% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today's buyer and seller.

The real estate industry has undergone a fundamental change over the past several years. A majority of consumers are taking the time to conduct their own research prior to contacting an agent. In turn, real estate professionals must be knowledgeable of how technology can assist them in serving the needs of the buying and selling public.

The exclusive REALTOR e-PRO^Ò certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. Because of its innovative design, students are able to complete the course at their own pace, when and where they want, via any Internet connection. The course is designed to help REALTORS^Ò stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services. Consumers can identify the e-PRO through the exclusive e-PRO Internet Professional logo.

Both the content and the delivery platform were created by San Diego-based technology company InternetCrusade^®. The course instructs participants in the professional use of e-mail, the development of an interactive Web site, and the use of online research tools. Graduates use the skills they've acquired to provide clients information on properties for sale, local communities, and the local real estate market.

For more information, e-mail Jeff Cole at jeff@coastalhomeinfo.com or visit our website at www.coastalhomedeals.com.

Courtesy of e-PRO

Bruce Peyton, with The Cole Group as a full time buyer´s agent. His strengths are working with buyers, area knowledge, determination, negotiation skills, organizational and technical skills. Bruce is dedicated himself to listen and understand his client´s needs. He represents his clients in the process of indentifying/negotiating and closing their desired property with an informed point of view. Clients and the market itself can change dramatically in a moment and he prides himself in being proactive, flexible and on top of market trends.

As a single parent of a teenager, Bruce understands the importance of being located within the right school districts and creating an environment for healthy life choices that do abundant in North San Diego County. Bruce´s real estate background has evolved from the building profession to managing a real estate office to present doing what he has a passion for, helping people accomplish their real estate goals and having fun in the process.

visit our websites at www.coastalhomeinfo.com or www.coastalhomedeals.com

Housing Assistance Tax Act of 2008 Reduces Benefits of a Tax-Free Personal Residence Sale

The Housing Assistance Tax Act of 2008 signed by President Bush on July 30, 2008 contains sweeping measures to shore up the ailing housing market. It tightens lending practices and reform financial institutions associated with that market. It also includes a 96-page tax title that carries tax breaks for home buyers and homeowners. Included is a modification to the Section121 exclusion of gain on the sale of a primary residence.

Under Code Section 121 a taxpayer can exclude up to $250,000 ($500,000 for married couples filing jointly) of gain realized on the sale of a principal (primary) residence. In order to be eligible for the Code Section 121 exclusion, the residence must have been owned and occupied as the taxpayer's primary residence for periods of time adding up to two years within the preceding five year period. Any depreciation taken on the property since May 1997 is not excluded.

Taxpayers often have more than one residence. A second residence which is not the taxpayer's primary residence for the required two years is not eligible for the §121 exclusion. The 2008 Housing Act deals with situations where the taxpayer is selling a residence which has not always been the taxpayer's primary residence. For instance -

• The taxpayer moves into a second residence and after residing in it for two years, sells it, or
• The taxpayer moves into a residence which he has previously owned as a rental property and after residing in it for two years, sells it, or
• The taxpayer sells a residence in which he has lived in, for two years during the preceding five years, but is not currently residing in it. Perhaps he has converted it to a second residence or a rental property.

Effective January 1, 2009 the exclusion that applies to gain from the sale of a primary residence under Code Section 121 will not apply to the fully excludable sales gain as much as it is allocable to periods of "non qualified use."

For instance, on January 1, 2009, a taxpayer purchases a home as a second home or rental property. After owning it for three years, they make the home their primary residence and live in it for two years before selling it. Under the new rule, the exclusion must be prorated.

• Two thirds of the gain would not be eligible for the $250,000 exclusion.
• One third of the gain would be eligible for the exclusion.

Nonqualified use

Nonqualified use of a residence is any use of the residence other than as a taxpayer's primary residence. For taxpayers with more than one residence, "primary residence" is the residence where the taxpayer lives more time than any other residence.

For 2008 Tax Act application purposes, nonqualified use is limited to periods of time commencing on January 1, 2009. Nonqualified use prior to January 1, 2009 is not taken into account for determining the period of time to which the §121 exclusion has to be allocated.

Also, for purposes of application of the new 2008 Tax Act, periods of time after which a taxpayer has discontinued use of a residence as his primary residence is also not taken into account.

Only nonqualified use of a residence which has occurred after January 1, 2009 and before a taxpayer made a property his primary residence is taken into account for purposes of determining the period of time to allocate §121 exclusion.

Potential 1031 Exchange Issues

taxpayers frequently exchange an investment property for a qualifying investment replacement property with the intent to convert it to a personal residence after one or two years. The game plan has previously been to eventually qualify the residence under Code Section 121 for a tax-free gain on the sale of the property (again, except for depreciation taken on the property since May, 1997).

When it goes into effect, this new law will impact this tax strategy. Any nonqualified use of the property after January 1, 2009 will be subject to the new law that limits the application of the §121 gain exclusion. This will require careful consideration by taxpayers, and their tax professionals, to determine the best tax strategy on the sale of a previous investment property that is now their primary residence