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- 3. October 2009: Burbank Market Report's New Home
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Archive for the Off the Beaten Path Category
Kwik E Mart!
4. July 2007 by Burbank Real Estate.
Ok, this is an update on my last post! I went by the Kwik E Mart and shot these pictures! It was a very funny experience as there were families taking pictures of themselves in front of the Kwik E Mart sign and putting their children in front of the graffitied walls for pictures!!!
Although there was a line, I was lucky as the line had died down to 5 people when I got there, when I left there were about 10-12 in line. They had sold out of everything except for the pink donuts and the Squishi slurpees!
I was told there will be a new shipment of goods arriving tomorrow! In case you can’t read it, the small white sign says 5 Minute parking, violators will be executed!
Happy 4th everyone! Given that there are no fireworks here in Burbank, Kwik E Mart seems to be the thing this year!
For your Burbank Real Estate needs please visit my website at anaconnell.com!
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Beware of Unscrupulous 1031 Exchange Intermediaries!
30. May 2007 by Burbank Real Estate.
A 1031 Exchange can be a very useful tool for the property owner who wants to defer capital gains on the sale of a real estate property.
Recently the Wall Street Journal and today Realtor Magazine had a great article about investors running into trouble with the IRS because of misappropriation of funds by the qualified intermediary or QI the investors used to manage the 1031 exchange funds!
If you know of any clients who utilize this tool, you may want to alert them to this situation! In the last year two QI’s have misappropriated client funds and the IRS is looking at the investors as well as the QI’s.
It is unclear, other than losing the tax deferral, if the investors will face any other penalties.
Your thoughts and comments are welcome!
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