HAVE YOU BEEN TO THE PALM BEACH ZOO LATELY?

HAVE YOU BEEN TO THE PALM BEACH ZOO LATELY?

• Oz is a Kaola who loves fresh Eucalyptus and requires six varieties for his diet, which the zoo has acquired.  The Zoo was approached to become a new facility for management and breeding of Queensland koalas, requiring staff training and construction of the new naturalistic habitat for koalas at the zoo costing over $100,000.  More construction is underway to accommodate these animals. 

• A newly constructed habitat for Wallabies allows you to watch for the baby joeys peeking out from mom’s pouch.  You can get wonderfully close views.

• Wings Over Water is an interactive daily show featuring 20 trained majestic and sometimes comical birds – 11 am daily and also 2 pm on weekends.
• There are two new otter pups to ewwww and ahhhh over.
• Howl along with New Guinea Singing Dogs, Mic and Sydney, who star in the Wild Things Show at 1 pm weekdays and 12 pm weekends.

The Zoo offers more than 60 animal enrichment and encounters weekly with additional special events every month on Friday nights, 5:30-8pm during June and August, come over for Safari Nights with live entertainment, nature workshops, children’s games, interactive wildlife shows, up-close animal encounters and complementary carousel rides.  Winter in July brings snow to the zoo July 10-11.

See the Zoo’s state-of-the-art animal care complex.  The Zoo also has green certification and has received Green Nonprofit Certification and is a “Going Green” Sustainability Leader.

Location is Dreher Park in West Palm Beach where there are over 1400 animals within 23 lush tropical acres.  Stop by and have a wonderful day.

WHAT IS BP DOING RE THE OIL SPILL?

Here is a good illustration of the methods being used to stop the flow of oil from the well.  It runs about 13 minutes, well worth watching to understand what is happening right now.

GOOD NEWS ON THE PROPERTY SALE FRONT JUST IN...

"The upswing in April sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback" ahead,” says National Association of Realtors Chief Economist Lawrence Yun. He further states that  “Not only do consumers have growing confidence in the economy and their own incomes, but home buyers no longer fear further price declines -- and that's a crucial turning point in the cycle.”

WALL ST JOURNAL RE FAMILY MANAGERS and MANAGEMENT FIRMS

WALL ST JOURNAL RE FAMILY MANAGERS and MANAGEMENT FIRMS

Focusing on Oprah Winfrey’s starting a family office by hiring a Family Manager who is with a full investment organization, recommended by her law firm, for her estimated $2.4BB net worth holdings, the WSJ states that, “Wealthy investors typically hire mangers at banks and brokerage firms to handle their financial affairs.  A family office is considered a step up from such an arrangement, with a team of advisers working exclusively, and directly, for the client.” 

The article also mentions that Michael Dell, with more than $10BB worth of personal assets, has a team of 80 people working on Money Management for him at a Family Management Firm.  WSJ further states that, “the billionaire Bass brothers in Fort Worth TX created an operation that became a model for family-office investment vehicles around the US.”  

WEST PALM BEACH CITY COMMISSION DECIDES LESS IS MORE

Yesterday the city commission voted 4-1 to pass a cap on how large historic district homes can be built, after much discussion that seemed to pit owners of larger homes in those areas against owners of smaller homes in historic districts.  There are 14 historic districts in West Palm Beach.

Three years ago, during the real estate boom, a citizens committee was formed that wanted to curb large mansions springing up in historic neighborhoods.  The economic downturn came, “McMansions” stopped being built, but the committee wanted to be sure no mansions would be built in the future so that the historic districts could retain their character.  Others argued it restricted the opportunity to increase their property value by not being able to build larger homes or increase the size of their current homes in historic districts.

Many existing homes are larger than what would be permitted moving forward.  Now there is a maximum floor area ratio (ratio of floor area of home to area of the lot).  A waterfront home in El Cid, e.g., can have a 0.45 floor area ration for lots larger than 5000 sq ft.  In Northwood Hills, the same ratio applies with a 0.35 floor ratio.  In other words, divide the total sq ft of the home by the total sq ft of the lot. The Northwood Hills homes are usually smaller than those in El Cid with same size lots, and residents want uniformity. The lone dissenter on the  commission pointed out that “in gated communities you have houses that are the same size with the same colors…historic neighborhoods are more organic and part of the charm is their imperfections.” 

One historic district resident said that the new ordinance is restrictive to creativity and for residents to express themselves.  She could only add 250 sq ft to her home now, and she said that was the size of a closet.  One suggestion was made that instead of focusing on size, it was the look that should be regulated.  One fear is that the McMansions could encroach on their neighbors’ rights.

The city’s planning director will be giving the commission bi-annual updates to see if the new ordinance is working, or if it is infringing on property owners’ rights.

VOTE FOR THE 2010 COLLECTIBLE CAR OF THE YEAR

The New York Times offers pix of 30 finalists with classics from different eras and countries to vote for.   

Pictures and information on each car are available.  Voting ends May 17, 2010.  Winner to be announced July 24, 2010.   

Photos also available on the site for previous winners.

LIFE IN WISCONSIN as painted by ROBERT DUNCAN

While this is NOT typical Florida life, I think you will enjoy watching this power point show.  If download does not work, click view.  Sit back and enjoy the sights and sounds.

	RobertDuncan'spaintings.pps 5149K   View   Download

South Florida Business Journal: EXISTING HOME, CONDO SALES RISE-in 2010 homes and condos are unlikely to be as cheap to buy or as cheap to finance.

The latest monthly Standard & Poor's/Case-Shiller home price index came in higher last week. Prices were up in 12 of the 20 major markets that Case Shiller monitors.   Home price indexes increased nationwide in August, including in South Florida where an S&P Case-Shiller report released today showed a 1.1 percent step up.  The index does include all single family homes sold, which may account for any difference between it and National Association of Realtor figures released last week that showed a small dip in local median home prices. The NAR looks at MLS listings only.

The Commerce Department released parallel findings last week - that consumers are finally beginning to loosen up on spending, and are making purchases they deferred during the scary months of 2009.   If that rate of expansion in consumption continues, not only will it begin to whittle away at the unemployment rate, but also stimulate the entire US economy, since consumer spending accounts for 70 percent of the national gross domestic product or GDP.  The housing and mortgage sectors could also begin to show some of that confidence and willingness to spend.

Home sales are expected spike upwards in the coming several months as the two federal housing tax credits head for expiration.  Mortgage Bankers Association reported last week that applications for new loans to buy houses - a bellwether indicator - jumped by seven percent and now stand at their highest level in six months.

UPCOMING LOCAL TOURS

Downtown West Palm Beach Historic Trolley Tours: 3, 4 p.m. Fridays; 11:30 a.m., 12:30 p.m. Saturdays, leaves from Richard & Pat Johnson Palm Beach County Museum, North Dixie Highway & Third Street. $5; ages 10 and younger free. RSVP 561-833-8873.

Boca Raton Historical Society Hotel Tour: 2 p.m. Tuesdays at Boca Raton Resort & Club, 501 E. Camino Real. $15; $9 valet fee. RSVP 561-395-6766 ext. 100 or bocahistory.org.

Boca Raton Historical Society Trolley Tour: 10 a.m. second and fourth Thursdays of the month leaving from Boca Raton Historical Society, Town Hall, 71 N. Federal Highway. $20; members $15. RSVP 561-395-6766 ext. 100 or bocahistory.org.

Narrated Bus Tours of Historic Delray Beach: Museum of Lifestyle & Fashion History. Registration 10 a.m., departure 11 a.m. Feb. 27 from Delray Beach Library, 100 W. Atlantic Ave. Adults/seniors $15; under 18 free. delraybeachbustours.org, 561-243-2662.

West Palm Beach Antiques Show: Early buyers 9 a.m.-noon March 5 ($25); regular hours: noon-5 p.m. March 6, 9 a.m.-5 p.m. March 7 at South Florida Fairgrounds, 9067 Southern Boulevard. Adults $7, seniors $6, under 16 free. 561-793-0333, wpbaf.com.

Lake Worth Parrot Cove Home and Garden Tour: Includes nine homes/gardens, two bed & breakfasts and St. Andrews Episcopal Church 2-6 p.m. March 7. Tickets $20 in advance, $25 day of event. 561-586-8612, parrotcove.org.

Arts & Crafts Trunk Show: 10 a.m.-6 p.m. March 13, 12-5 p.m. March 14 at Art-Sea Living Gallery, 1628 S. Federal Highway, Boynton Beach. 561-737-2600, art-sealiving.com.

Spady Museum Ride & Remember Trolley Tour: Leaves 10 a.m. March 13 from Delray Beach Parking Garage, NE First Street & NE First Avenue. Cost $15; $10 children; $12 members. 561-279-8883, spadymuseum.org.

American Orchid Society: 16700 AOS Lane, Delray Beach. "Orchid Design Clinic" 1 p.m. Feb. 27. Members $5, non-members $10. 561-404-2031. Orchid Judging 2 p.m. Feb. 27. Orchid Doctor 1-4 p.m. Saturdays, Sundays; 10-11:30 a.m. Wednesdays. 561-404-2000.

Gardening Classes: "Landscape Design Techniques Used by Professionals" 7-8:30 p.m. Mondays, through March 1; "When Your Garden Misbehaves" 7-8:30 p.m. Mondays, March 15-29 at Community Center, Boca Raton. Residents $38, non-residents $48. 561-338-5436.

Boca Raton Garden Club: Clubhouse, 4281 NW Third Ave. "History of Boca Raton" 1 p.m. March 2 Free. Rummage Treasures ‘N Plants Sale 9 a.m.-2 p.m. March 13. Free. 561-395-9376.

Mounts Botanical Garden: 531 N. Military Trail, West Palm Beach. "Designing, Creating & Maintaining Your Home Landscape" workshop series 6-9 pm. March 3-27 (Wednesdays). $50 members, $60 non-members. Bonsai Society 7 p.m. March 2. J.harman2006@yahoo.com. PBC Beekeepers Association 7 p.m. March 5. 561-686-6557. Begonia Society 7 p.m. March 8. 561-434-3745. Herb Society of PBC 9:30 a.m. March 9. 561-640-7943. Orchid Society of Palm Beaches 7:30 p.m. March 11. pottedorchid@aol.com. Rare Fruit Coucil 7:30 p.m. March 12. 561-495-4694. Enchanted Garden Spring Benefit/Auction 4:30-7 p.m. March 14. Tickets $75. General info: 561-233-1757, mounts.org.

Morikami Museum and Japanese Gardens: Art of Bonsai classes begin March 7 (9 a.m.-noon Sundays through April 11) at 4000 Morikami Park Road, west of Delray Beach. Members $81, non-members $91; additonal material fee of $35. 561-495-0233 ext. 210, morikami.org.

Ann Norton Sculpture Gardens: 253 Barcelona Road, West Palm Beach. Marino Marini Sculptures, Etchings and Lithographs on view through March 8. 10 a.m.-4 p.m. Wed.-Sun. 561-832-5328, ansg.org.

SEA TURTLE DAY AT GUMBO LIMBO IN BOCA RATON

On March 13^th, Gumbo Limbo will celebrate their 5^th Annual Sea Turtle Day from 10 a m to 4 pm.  Included in the celebration will be marine life, our oceans, terrestrial species and habitats along with a fun-filled day of environmental education.  Learn about conservation to help make our world a better, cleaner place, and how all species and habitats are interconnected.  This year’s focus will be on responsible fishing.  Children must be accompanied by an adult. 

CBS Channel 12 will feature on their morning show on February 21^st a live broadcast from Gumbo Limbo Nature Center, from 6-9 am.  CBS recently showed surgical treatments for 35 green sea turtles affected by fibropapilloma, a virus which manifests in fleshy tumors on the turtles skin.  It is contagious among turtles, but does not affect humans.  Currently, only surgery can remove the tumors.  After surgery and a short recovery period, the turtles will be released to the ocean.  There were 5000 “cold-stunned” turtles rescued during 2 weeks of abnormally cold temperatures in Florida. 

Come to Gumbo Limbo and stroll around the butterfly garden, climb the observation tower on the boardwalk through coastal hammock, sit in a hut, see saltwater tanks brimming with marine life and take photos of the 7 giant turtles in the sea turtle garden. 

Wiggy, the Kemp’s Ridley turtle pictured about was captured as an adult in 1971 and is presumed to be born about 1960. 

The turtle pictured here, FeeBee, a Loggerhead, survived pneumonia and was hatched in July 2002 in Spanish River Park in Boca Raton.

Above is Milton, another Loggerhead, hatched in July 2002 south of the South Beach Pavilion in Boca Raton.  97 out of 102 of Milton’s eggs hatched.

You can adopt a sea turtle, including FeeBee or Milton, to help support their care and feeding.

GOING THROUGH END-OF-LIFE ISSUES WITH FAMILY MEMBERS?

Head over to the CARING INFO website.  Find out there about caring for someone, planning ahead, living with an illness.  You can download an advance directive form, fill it out and add it to your google health profile so it will always be easy for a family member to find.  There is hospice info there and a legal guide for the seriously ill.  There is also information on grieving a loss and using community outreach resources.

LATEST FLORIDA HOME SALES NEWS

WHY IS RIGHT NOW THE BEST TIME EVER TO BUY A PROPERTY IN FLORIDA? Florida single family home sales in Florida were up 33% for the month of JANUARY 2010  compared with the prior year, and condo sales gained 91%.  REALTY TIMES reports that Lawrence Yun, chief economist for the National Association of Realtors which conducts the pending sales survey said the swings from month to month are "masking the underlying trend (in housing) which is a broad improvement over year-ago levels."   Yun also predicts that that the two home purchase tax credits -- the extended $8,000 credit and the new $6,500 credit -- will have a significant impact on closed sales in the coming several months.  He forecasts that the two credits combined will stimulate 2.4 million sales in 2010, and most of that activity will be compressed into the first six months of the year. December's pending sales contracts were 11 percent higher than December 2008's.

19th ANNUAL BIG WINTER SPECTACULAR WEST PALM BEACH ANTIQUES FESTIVAL.

Florida’s largest antique show with more than 1000 dealers hosts the Big Winter Spectacular on February 5-7, 2010.  An Early Buyer pass can be purchased to enter from 9-12 Friday mornings for $25 and is good all weekend.  Daily admission is $7 for adults, $6 for seniors.  Children under 16 are free.  Discount coupons for admissions are available in the newspapers and at http://www.wpbaf.com.

You will find everything from period furniture from the 1700’s to 1960’s modernism for sale.  Glass and jewelry repair will be onsite, while you wait and shop around your items can be fixed.  Browse and shop inside huge new air conditioned buildings, and outside more than 100 dealers set up in covered areas or tents.  Unlimited free parking, and food and drink concessions are available.

Hours are:
Friday, 2/5: noon to 5 pm

Saturday, 2/6 9 am to 5 pm

Sunday 2/7: 10 am to 4:30 pm

The Americraft Expo Center at the South Florida Fair is located at 9067 Southern Boulevard in West Palm Beach.  From the Florida turnpike go west on Southern Boulevard for 1 ½ miles.  From I-95 go west on Southern Boulevard for 7 miles. 

For more information email info@wpbaf.com or call 941-697-7475.

THE WHITE HOUSE LOST MARKET VALUE TOO…

   

The Palm Beach Post Real Estate News page reports that,  “you and your neighbors are not alone.  The place the president and his family call home was worth 5.1% less last year, one analyst says.”

Zillow “zestimates” 1600 Pennsylvania Avenue, NW, Washington DC (The White House) at $288,494,000.  The residence has 16 bedrooms, 35 baths and is 55,000 sq ft.  They further estimate a monthly mortgage payment would be $1,216,562.

SAVE MONEY AT THE MOST POPULAR COUPON WEBSITES

The numbers are unique December 2009 traffic amounts.  Before you buy, take a look at each appropriate site and save yourself money, whether buying online or in a store.  There are now thousands of coupon sites, and the sites listed here are offering really good deals.  Today more than ever consumers are looking to save money.  Try store specific sites such as Target and Amazon.  Check out these sites!  Copy URL above to return to this site or left click in white space, right click, click BACK.

Coupons.Com (14.6MM). $300MM worth of coupons printed in 2009.  163 coupons for supermarket and drugstore items to print today. Enter your zip code for local deals. Call your store and be sure they accept these coupons. 

RetailMeNot.com (9.9MM).   Discounts at 40,000 online stores for toys, clothes, travel, electronics and more. Subscribe to weekly newsletter for Monday best deals.  Refreshes three times a day.  You can be alerted when new codes are posted for your favorite retailers.

CouponCabin.com (3.4MM).  Save up to 30%. Subscribe to newsletter. Many stores featured.

FatWallet.com  (2.1MM) Coupons and cash back from over 2500 merchants.

DealCatcher.com (1.3MM)  Technology and electronics-oriented and consumer products including groceries. 

CouponMom.com  (2MM members)  Get $25 Restaurant Gift Certificates for $10 at 13,000 restaurants nationwide.  Grocery and drug store items.

Let us know which sites worked best for you for which items. 

SNAKES AS INTERNATIONAL SYMBOLS

Serpents such as the snake have been symbols through eternity of fertility, immortality, eternal love, wisdom and much more.  At the Bruce Kodner Gallery Auction today, two exquisite reptile bangles will be sold.  One is a Victorian 22kt yellow gold 3 ct diamond snake bangle and the other is a 1970’s 18 kt yellow gold diamond and enamel snake bangle which appears menacing. The serpent looks on the alert, head raised, tongue out, and like it is hissing. 

Ancient Egyptian Pharaohs are pictured wearing sacred serpent pendants.  Aesculapius, the God of Medicine in ancient Greece, had a household snake wrapped around his staff, and even today that remains as the symbol of the medical profession.  Ancient Greeks and Romans revered the snake as a guardian spirit and symbol of wisdom.

Queen Victoria liked snakes and felt they were emblems of eternal love.  Her betrothal ring was an emerald-set serpent with its tail in its mouth.  The circular cold represented eternity and everlasting love.  She made snake jewelry fashionable in the 1890s, on rings, bracelets and necklaces.  From 1910 through 1930, Cartier’s sketchbooks pictured drawings of snake rings and bracelets and snake items are still popular at Cartier.  Lalique, the French glass and jewelry designer (1860-1945) was obsessed with snake and insect motifs and made such jewelry for Sarah Bernhardt.

In 2008 our local Palm Beach Zoo opened its 1000 sq ft Reptile House displaying a variety of venomous and non-venomous reptiles and amphibians found in the state of Florida.

REPORT ON THE ECONOMY

 The Washington Post reports that:

"There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well.

"Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.

"And the net worth of American households -- the value of their houses, retirement funds and other assets minus debts -- has also declined when adjusted for inflation, compared with sharp gains in every previous decade since data were initially collected in the 1950s." (See: "Aughts were a lost decade for U.S. economy, workers," Jan. 2, 2010)

Translation: The economy was downsized during the past decade.

We're just not going to have a better real estate market, or much of anything else, until demand for labor increases in terms of both jobs and real income.

NEW YEARS GOOD NEWS: CHAMPAGNE KEEPS HEART DISEASE AT BAY

 Top British scientists tell us to start New Year with a “glass of bubbly,” to keep strokes and heart attacks away, like two glasses of red wine is recommended for as well.  According to Dr. Jeremy Spencer of Reading University, who asked the Daily Mail, “a couple of glasses a day has a beneficial effect on the walls of blood vessels—which suggests champagne has the potential to reduce strokes and heart disease.”  Other types of sparkling wines can help, and perhaps a mug of hot cocoa, though Dr Spencer said, “While the benefit is the same, it doesn’t seem as much fun somehow.”  We leave the choice up to the readership!

STORY OF RUDOLPH THE RED NOSED REINDEER... confirmed true by SNOPES

A guy named Bob May, depressed and brokenhearted, stared out his drafty apartment window into the chilling December night. His 4-year-old daughter, Barbara, sat on his lap quietly sobbing. Bobs wife, Evelyn, was dying of cancer. Little Barbara couldn't understand why her mommy could never come home. Barbara looked up into her dads eyes and asked, "Why isn't Mommy just like everybody else's Mommy?" Bob's jaw tightened and his eyes welled with tears. Her question brought waves of grief, but also of anger. It had been the story of Bob's life. Life always had to be different for Bob. Being small when he was a kid, Bob was often bullied by other boys. He was too little at the time to compete in sports. He was often called names he'd rather not remember.

From childhood, Bob was different and never seemed to fit in. Bob did complete college, married his loving wife and was grateful to get his job as a copywriter at Montgomery Ward during the Great Depression. Then he was blessed with his little girl. But it was all short-lived. Evelyn's bout with cancer stripped them of all their savings and now Bob and his daughter were forced to live in a two-room apartment in the Chicago slums. Evelyn died just days before Christmas in 1938. Bob struggled to give hope to his child, for whom he couldn't even afford to buy a Christmas gift. But if he couldn't buy a gift, he was determined a make one - a storybook!

Bob had created an animal character in his own mind and told the animal's story to little Barbara to give her comfort and hope. Again and again Bob told the story, embellishing it more with each telling. Who was the character? What was the story all about? The story Bob May created was his own autobiography in fable form. The character he created was a misfit outcast like he was. The name of the character? A little reindeer named Rudolph, with a big shiny nose.

Bob finished the book just in time to give it to his little girl on Christmas Day. But the story doesn't end there. The general manager of Montgomery Ward caught wind of the little storybook and offered Bob May a nominal fee to purchase the rights to print the book. Wards went on to print Rudolph the Red-Nosed Reindeer and distribute it to children visiting Santa Claus in their stores. By 1946 Wards had printed and distributed more than six million copies of Rudolph. That same year, a major publisher wanted to purchase the rights from Wards to print an updated version of the book. In an unprecedented gesture of kindness, the CEO of Wards returned all rights back to Bob May. The book became a best seller. Many toy and marketing deals followed and Bob May, now remarried with a growing family, became wealthy from the story he created to comfort his grieving daughter.

But the story doesn't end there either. Bob's brother-in-law, Johnny Marks, made a song adaptation to Rudolph. Though the song was turned down by such popular vocalists as Bing Crosby and Dinah Shore , it was recorded by the singing cowboy, Gene Autry. "Rudolph the Red-Nosed Reindeer" was released in 1949 and became a phenomenal success, selling more records than any other Christmas song, with the exception of "White Christmas." The gift of love that Bob May created for his daughter so long ago kept on returning to bless him again and again. And Bob May learned the lesson, just like his dear friend Rudolph, that being different isn't so bad. In fact, being different can be a blessing!

OLD SCHOOL SQUARE’S CREST THEATER PRESENTS WINTER WONDERLAND ON ICE

With 3 performances coming up, you don’t want to miss the international cast of champion pairs an soloists, colorful costumes and exciting music, electrifying jumps, lifts and spins and enchanting vocals.  Olympic Bronze medalist and 2-time European Champion Jozef (“Jumpin’ Joe) Sabovcik will WOW us with his skating performance.  Performances are Friday, December 18^th at 8 pm; Saturday, December 19^th at 2pm and 8pm; Sunday, December 20^th at 2 pm and 7 pm.  

Tickets are $42 and can be ordered online at http://www.oldschool.org/ or by calling 561-243-7922, ext 1.  The Crest Theatre is located at Old School square, 51 No. Winton Avenue, Delray Beach.   

Come early with the elementary school (and pre-school) children who can ride the Carousel.  Carousel hours are 5-9 pm weekdays and 1-9 pm weekends and during school break.  Rides are $2 each.

WHERE THE WILD THINGS ARE

Visit the Panther Ridge Conservation Center in Wellington to see the lifetime home for abandoned, abused or unwanted captive, exotic felines. Here you can learn about the challenges these animals face in the wild, medical care, nutrition and the problems related to private ownership. The animals roam within a 3-acre pen. 

The Center is located at 14755 Palm Beach Point Boulevard in Wellington, FL 33414 - Phone: 561-795-8914. Group and Individual Tours can be arranged. 

The Center survives as a non-profit organization thanks to contributions from corporations, individual patrons and veterinary facilities. 

Come on over on December 13th for hors d’oeuvres, entertainment, raffle prizes and take a photo with a baby jaguar at their fund raising event from 12-3 pm at LoLa Restaurant and Ultria Lounge, 16950 Jog Road, Delray Beach. 561-496-5652.

DEED FOR LEASE PROGRAM (DL-4)

New program announced by Fannie Mae (Federal National Mortgage Association) to keep mortgage-challenged borrowers in their homes.  Qualified borrowers relinquish the deed to their property and rent their home at market rate for 12 months.  To read more about it, see Chris Thorman’s informative blog.   Your comments are most welcome!

CAN LIFE SETTLEMENTS WORK FOR YOU AS A NEW SOURCE FOR FUNDS?

·        Your term policy can be evaluated in the Life Settlement Market if it can be converted to Universal Life; it would be converted during the closing process

o      If your health has deteriorated to the point where premiums on new life insurance would be cost prohibitive converting term to universal or whole life may be the only viable option

·        Have your whole life premiums escalated making you consider surrender or lapsing the policy perhaps for low cash payout?  A Life Settlement MAY BE THE BEST SOLUTION – cash out under performing insurance and use the proceeds to purchase more appropriate coverage.

·        Does your business hold life insurance that may no longer be necessary, and in need of reevaluation and change to life settlement or other solution, e.g.

o      due to retirement of key executive

o      partnership dissolution

o      executives who do not wish to keep a policy in a retirement package in force

o      change of business ownership

o      exit strategies for benefit programs

o      proper market asset valuation of business owned life insurance

·        Do you have life insurance providing a deferred benefit to a charity, and if so, would you prefer a solution that will make more immediate donations during your lifetime?  If yes, consider a life settlement solution.  The charities then will not have premium obligations when you pass on.

MORE INFORMATION

1st TIME HOMEBUYER CREDIT EXTENDED TO APRIL 30, 2010

The $8000 tax break for first-time home buyers would require a signed purchase agreement contract, and will have a 60-day cushion beyond the end of April to complete the closing.

In addition, existing homeowners who have lived in their current residence for at least 5 years but want to relocate to a new primary residence can use a $6,500 tax credit.

Income limits for both would be $125,000 for individuals and $225,000 for couples.

The tax break would be offered on homes priced at $800,000 or less Recipients who sell the home or stop using it as their primary residence within 3 years would be required to repay the credit

ART REIGNS SUPREME

The New York Times reports that prices at Sotheby’s Auction far surpass estimates. A recent auction was well represented by buyers from the US, China, Latin America and Russia. A Derain, “Barque au Port de Collioure sold for $14MM recently, the highest price for one of the artists works at auction. It was estimated to sell for $8MM but there were 3 bidders and one was determined to win the painting.