iowa exchanges: Humor - Neologisms - 02/14/08 04:06 PM
Although there is little doubt that my typical blog posting is full of humor from start to finish… I’ve never written a blog that was designed at the outset to be humorous. Okay, so that first part is a stretch...
At any rate, the Washington Post apparently periodically asks its … (7 comments)
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iowa exchanges: Would You Like Some Good News? Success Regarding Like-Kind Status in the Farm Bill - 01/25/08 10:37 AM
Would you like some good news? There has been success regarding the like-kind status in the Farm Bill! More to come on this later, but for now, please allow me to announce that the provision contained in the Senate version of the Farm Bill that sought to re-define the concept of … (3 comments)
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iowa exchanges: Midwest Farmland Prices Spike Higher During 2007 - 01/22/08 09:52 AM
Midwest Farmland Prices soared during 2007, according to the Des Moines Register today. According to the appraisers at Farm Credit Services of America, farmland prices increased 20% or more in three of the four states covered by the organization (Iowa, South Dakota, and Wyoming) during 2007, with the fourth (Nebraska) close … (5 comments)
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iowa exchanges: Midwest Farmland Exchanges: Cause of High Land Values or Merely Effect? - 01/21/08 04:14 PM
Are Farmland Exchanges occurring in the Midwest in states such as Iowa the cause of high land values or merely an effect?
The answer depends upon who you ask, but my personal opinion is that high Midwest farmland values are a lot more likely the result of the increased need for … (5 comments)
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iowa exchanges: The Next Verse... Today's Update on the Farm Bill - 01/15/08 06:41 PM
I hope you're hanging in there with me on this subject. It seems like there's a new development every day or so now.
Yesterday I posted on the fact that Congress is back in session and the Farm Bill is something that they will be working on putting together as soon … (9 comments)
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iowa exchanges: The Farm Bill - The Latest News Regarding Section 1031 - 01/11/08 07:25 PM
As part of a continuing effort to keep you up to date on the implications that the Farm Bill currently being considered in Washington, DC. may have on Section 1031 tax-deferred exchanges, here's the latest: As you know if you have read my two previous blogs on this subject (the original … (5 comments)
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iowa exchanges: The 45-Day Identification Period - A Hindrance or Not So Much? - 01/11/08 11:07 AM
Part of a successful Section 1031 tax-deferred exchange is meeting the requirement that potential replacement properties be properly identified within forty-five calendar days after the closing of the relinquished property.
Time out for definitions: Replacement property = the properties that an exchanger would consider purchasing to replace the ones s/he is … (12 comments)
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iowa exchanges: European-Based Insurance Group to Create U.S. Headquarters in West Des Moines - 01/08/08 12:00 PM
The acquisition of land in West Des Moines for the United States headquarters of London-based Aviva was finalized recently. Aviva is the fifth-largest insurance group in the world based on gross worldwide premiums as of 12/31/06. Aviva US is ranked #1 in sales of "indexed life insurance," which appears to be … (4 comments)
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iowa exchanges: "Home Prices Fall by Record 6.7%" - What Do You Think? - 12/27/07 09:24 PM
The headline in the Des Moines Register Business section today says, "Home prices fall by a record 6.7%." That's in October year-over-year terms, according to the article. The story also notes that October was the 23rd consecutive month during which prices either fell or grew more slowly than they did in … (5 comments)
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iowa exchanges: Happy Holidays - 12/26/07 04:52 PM
I feel like I'm just getting started here at activerain, but I wanted to wish anyone who reads this a very Merry Christmas (a day late), a Happy New Year, and happy holidays regardless of what you happen to celebrate. Special wishes to anyone who is spending the holidays away from … (6 comments)
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iowa exchanges: Iowa Farmland Sees Its Greatest Increase in Value Since 1976 - 12/19/07 05:22 PM
According to the Des Moines Register, Iowa farmland prices set a record this year for the fifth year in a row. The average price of farmland in Iowa is now $3,908 per acre. This is based upon an annual survey conducted and released by the Iowa State University Extension.
Here’s the … (6 comments)
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iowa exchanges: Update on the Farm Bill and Its Impact on Section 1031 - 12/19/07 04:59 PM
A little over a month ago, I wrote a blog about Section 12504 of the Farm Bill that was under consideration by the Senate at the time. (You can read it here.) The focus of the blog was the general impact on Section 1031 that a particular subsection of the bill … (30 comments)
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iowa exchanges: An Iinteresting and Fun Experience - 12/17/07 09:45 PM
Something interesting happened last week, and it turned out to be a lot of fun. I had the opportunity to visit by phone with another ARer, Jason Smith. Jason is exactly the kind of real estate agent I like to deal with when I need someone to represent me: the kind … (2 comments)
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iowa exchanges: Dealer Property Issues—Property Held for Sale - 12/17/07 05:03 PM
There is often confusion when it comes to defining what property qualifies for an exchange. Sometimes it is easier to describe situations that do not qualify. Real estate that is owned as “stock in trade or other property primarily for sale” cannot be exchanged. This type of property is deemed to … (4 comments)
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iowa exchanges: The Anatomy of a Simple Exchange Transaction - 12/11/07 07:28 PM
One of the most common questions I get asked is something along the lines of "Can you just explain to me how an exchange actually works?" Just as no two real estate sales are identical, no two exchanges are the same. What this blog attempts to do, however, is present the … (6 comments)
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iowa exchanges: A Serious Threat to Section 1031—Section 12504 of the Current Farm Bill - 11/13/07 10:28 AM
Until this point, my blogs have consisted of setting out the benefits of Section 1031 exchanges and the mechanics of the actual exchange. Today I want to address a critical issue regarding the future of tax-deferred exchanges.
SECTION 12504
Many of you do not follow the industry of agriculture very … (7 comments)
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iowa exchanges: “Held for Investment”—What's That? - 11/08/07 04:31 PM
“HELD FOR INVESTMENT”—WHAT'S THAT?
The actual wording of Internal Revenue Code §1031 says that in order to qualify for tax-deferred treatment, the property owner must sell property that has been “held for productive use in a trade or business or for investment” (emphasis added) and purchase property of like-kind. Often, potential … (0 comments)
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iowa exchanges: What Real Estate Agents Need to Know About §1031 Tax-Deferred Exchanges - 10/26/07 04:37 PM
It's clear that Section 1031 tax-deferred exchanges provide real estate agents a tremendous opportunity to increase commissions. But more importantly, you are serving your client's best interest when you are able to recognize an opportunity for a tax-deferred exchange. Think about it. What's better for your client? Paying taxes, or being … (2 comments)
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iowa exchanges: Section 1031 Tax-Deferred Exchanges—An Overview - 10/24/07 04:18 PM
WHAT IS SECTION 1031?
Section 1031 of the Internal Revenue Code (IRC) allows an owner of investment property to defer the payment of federal and state capital gain taxes by purchasing “like-kind” property following the rules and regulations of the IRC. Capital gain taxes are typically 15% of the gain, plus … (2 comments)
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iowa exchanges: Tax-Deferred Exchange 101 - 10/18/07 05:01 PM
I thought for my first blog post I would provide an overview of what Section 1031 tax-deferred exchanges are all about. This is going to be geared toward those folks who have never heard of tax-deferred exchanging, or perhaps they've heard of them but don't know much at all about them. … (4 comments)
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