...In 2010, Harold purchased a new condominium for $ 70,000 to use as his principal residence. Harold files as a single taxpayer. What is Harold's first-time home buyer credit in the following alternative situations? a. Harold purchased the condominium on February 1, 2010. Harold has lived in an apartment he rented since 2002. Harold's 2010 AGI is $ 60,000. The answer is: $ 7,000 ($ 70,000 × 10%) because Harold purchased the home before May 1, 2010 and he did not own a home in the previous three years, Harold may claim a credit equal to 10% of the purchase price (total credit may not exceed $ 8,000). b. Harold purchased the condominium on February 1, 2010. Harold has lived in an apartment he has rented since 2002. Harold's 2010 AGI is $ 135,000. The answer is: $ 3,500 ($ 70,000 × 10% × 50%) because Harold purchased the home before May 1, 2010 and he did not own a home in the previous three years, Harold may claim a credit equal to 10% of the purchase price (total credit may not exceed $ 8,000). However, because Harold's AGI is half way through the phase-out range for the credit ($ 125,000 - $ 145,000), he loses half of the credit he was otherwise eligible to claim ($ 135,000 is half way in between $ 125,000 and $ 145,000 so he loses 50% of the credit). c. Harold purchased the condominium on February 1, 2010. In the six years preceding this purchase, Harold lived in another home he owned. Harold sold that other home on March 1, 2010. Harold's 2010 AGI is...
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...1.O BACKGROUND: What is a condominium? Most of us heard and even see what a condominium is. However, we still ask ourselves sometimes, why is it called a condominium? In a condominium (commonly called a condo), some parts of it, like our residence - are owned privately, while others - common areas - are owned collectively by all of the building's residents. A less technical way of describing a condo is an apartment that you own. In real-world terms, condos often take the form of an apartment or similar shared complex, but theoretically, a condo could physically look like anything.1 The difference between a condominium and an apartment is purely legal. What defines a condominium is the ownership. Technically, a condominium is a collection of individual home units along with the land upon the land which they sit.2 Condominium units are generally popular in areas with high property values, and vacation hotspots and urban settings are both locations where you can expect to find them on the market. This is mainly because buying a singlefamily home can be quite expensive in cities where additional building space may be scarce especially in Metro Manila. As such, condos can open home ownership to whole new groups of people. There are many good of reasons that a condo could be a better alternative to an apartment or single home, and money is surely one of them. According to The Real Estate Journal, the prices of condominiums tend to appreciate at a 1 2 Ezinarticles.com wikipedia ...
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...Tagaytay City. Those are mainly built up around SM Shopping Mall for users can live in style, comfort and convenience at SMDC. Recently, an ever increasing number of foreign students are living here. According to data survey, here is 262 foreign students live in now. Mostly, they are graduate students. But for these students who are studying alone in the Philippines and far away from their home. We noticed that here is an issue about study habits of forerign students, and how already interfered with their daily life. Rationale/ Significance Study habits are the most important part of students. Students do not only depend on their IQ, but also depend on their study habits. Those foreign students are living in condominium alone which are near shopping mall. Four of swim pools are in the yard. Big shopping mall include clothes, foods, cinema, ktv, restaurants, entertainments. Students are living by themselves, nobody keeps watch on them, and also the self-control ability is weak. According to survey of study habits of condominium users ( mainly foreign students ) those who no longer stay home, the 156 are graduate students, they only have class on Saturday and Sunday. Therefore, they are free at week-days. They always go to shopping mall, play computer games, date with boyfriend or...
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...my way to the top of my chosen career and now reaping the fruit of my success. These are my assistants : Roncan Comintan , Ryan Cinense, Bryan Omar and Karl Guapo. Ryan Cinense is one of the assistant sales manager here in Global City. He previously sold 10 units of condominium in just 2months of being my assistant. Karl Guapo owned 3 units of condominium by working at here MegaWorld Corporation . Introduction Megaworld Corporation is transforming the Metro Manila landscape through a series of large-scale residential and office developments including urban centers integrating office, residential and commercial components. Apart from its core business of property development, Megaworld as a holding company is into merchandise trading as well as hotel and leisure. Megaworld continues to build upon a track record for quality and innovation centered on customer satisfaction through high-caliber projects delivered on time and backed by professional property management and after-sales services. Megaworld is also currently developing Uptown Bonifacio in Global City. The 15.4-hectare Uptown Bonifacio is Megaworld’s newest township project in the area and is envisioned to be a huge community of modern condominiums, offices, and retail establishments. To be...
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...Table of Contents Question 1 – Purchase Price 2 Question 2 – Forecasted Income Statement and Accompanying Assumptions 2 Question 3 – Net Present Value Calculations and Accompanying Assumptions 2 Question 4 – Sunk Costs and Opportunity Costs 3 Question 5a – Main Issues 3 Question 5b – Alternatives 4 Question 5c – Qualitative Issues 5 Question 5d – Quantitative Analysis (Done in Questions 2 & 3) Question 5e – Recommendation 5 Question 6 – Useful Information 5 Appendices attached 1. The purchase price of the new condominium townhouse is found by taking all the costs that were incurred by George and separating them into relevant and irrelevant costs. As seen in Appendix A, the relevant costs consist of the deposit, the down payment for the mortgage, and the principal mortgage. The deposit of $15,000 was paid directly to the builder. The down payment left to pay to the bank is $25,000, since we include the deposit as part of the down payment (40,000 - 15,000 = 25,000). The mortgage of $155,000 is also included in full since it is required in addition to the down payment. The occupancy fee of $1,400 per month is considered irrelevant when determining purchase price because, in essence, it is just rent expense and should not be included in the Adjusted Cost Base of the condo. 2. Forecasting the income statement (seen in Appendix 2) for rent revenue over the next 5 years, there are several assumptions that need to be...
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...on July 12, 1974 as Ayala Fund, Inc., a closed-end investment company. In March 1986, it was renamed SM Fund, Inc. after the SM Group of Companies took ownership of the company. After which, it stayed as an investment company that managed its investment thru diverse businesses in the country. In May 1996, SM Fund, Inc. was again renamed to SM Development Corporation to better state its new business of property development, whose focus is primarily to enter into the opportunities of the real estate industry. The paper aims to provide a comprehensive analysis on SM Development Corporation’s industry as one of the leading property development companies in the Philippines. Currently, the company is at full-swing with their openings of new condominiums for students, vacationers and business people depending on its location. SMDC has proven to be able to respond to buyers their locations are friendly to their target market and their price range is more affordable while amenities are not constrained. In order for the company to keep its head above their competitors, strategic management should be done. In line with this, the paper will be focusing on details such as the SWOT analysis, financial analysis and the different matrices used to evaluate the industry’s environment using the company’s chief executive officer’s point of view. TABLE OF CONTENTS ACKNOWLEDGEMENTS INTRODUCTION I. EXTERNAL ENVIRONMENT ANALYSIS A. Definition of the Industry B. Analysis of Present Task Environment...
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...1|Page University of Santo Tomas College of Commerce and Business Administration Espana, Manila A Strategic Management Paper Presented to: Mr. Real C. So In Partial Fulfillment of the Requirements for the Course Strategic Management (Entre 7) Presented by: Miguel O. Rodil 4M7 February 2012 2|Page I. EXECUTIVE SUMMARY 3|Page II. TABLE OF CONTENTS 4|Page III. ACKNOWLEDGEMENT 5|Page IV. INTRODUCTION 6|Page V. EXTERNAL ENVIRONMENT ANALYSIS 1. Definition of Industry Table 5.1 Real Estate Industry Classification Industry Supersector Sector Subsector 8000 Financials 8600 Real Estate 8630 Real Estate Investment and Services 8633 Real Estate Holding and Development Industries are the circles in the supply chain diagram. Each industry is a set of firms that operate in the same space in a supply chain, competing to control some of the space and so capture value. Industries have structure, history/trajectories and competitive dynamics that set the context for new entrants. In the Real-Estate Industry organizations primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. Companies that invest directly or indirectly in real estate through development, investment or ownership. Excludes real estate investment trusts and similar entities, which...
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...Wanted? I never wanted step parents, step sisters or step dogs. In fact, I like the thought about as much as kissing frogs. I never wanted holidays to come “Home” and “Away,” with halftime in the car so both teams could play. I never wanted to sit and add up all the “normal” things I’ve missed. Don’t ask me WHAT I wanted, I just never wanted this. Rylant, Cynthia. “Shells” from Every Living Thing by Cynthia Rylant. Copyright © 1988. “You hate living here.” Michael looked at the woman speaking to him. “No, Aunt Esther. I don’t.” He said it dully, sliding his milk glass back and forth on the table. “I don’t hate it here.” Esther removed the last pan from the dishwasher and hung it above the oven. “You hate it here,” she said, “and you hate me.” “I don’t!” Michael yelled. “It’s not you!” The woman turned to face him in the kitchen. “Don’t yell at me!” she yelled. “I’ll not have it in my home. I can’t make you happy, Michael. You just refuse to be happy here. And you punish me every day for it.” “Punish you?” Michael gawked at her. “I don’t punish you! I don’t care about you! I don’t care what you eat or how you dress or where you go or what you think. Can’t you just leave me alone?” He slammed down the glass, scraped his chair back from the table and ran out the door. “Michael!” yelled Esther. They had been living together, the two of them, for six months. Michael’s parents had died and only Esther could...
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...203; 732 NW2d 514 (2007), the Michigan Supreme Court held that a residential home builder was exempt from complying with the Michigan Consumer Protection Act, MCL 445.901 et seq. The Michigan Supreme Court reasoned that MCL 445.904(1)(a) exempted homebuilders from compliance with the Act as they were specifically authorized to build homes under the Michigan Occupational Code, MCL 339.101 et seq. The Supreme Court reasoned that homebuilders were not subject to the Act as they held a professional licenses and were regulated by the Residential Builders’ and Maintenance and Alteration Contractors'...
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...multicultural and multilingual employees. Pleasing employees created less turn-over rates and non-unionized labor market. As a result, this created a differentiated service and created priceless appeal. Having good relationships with local tourism authorities to improve the appeal of destinations the hotel chain operates in. Having a deep local knowledge and community ties. Having above average performance levels of the global industry in Hawaiian market, which directly affects the hotel chain’s success. Being able to compete with other worldwide brand-recognized hotels, Their commitment of hospitality didn’t change even if they added properties (Both on-beach properties/condominiums and off-beach budgeted properties) in their portfolio. Condominiums customers (families with $90,000-$150,000 income) had four times as many reservations coming directly from the Internet, recovering faster after a soft economy. Having centralized services such as accounting, IT, finance, engineering, purchasing, and special projects provided an efficient workflow in OHANA Hotels. IT Function: Centralized IT systems increased their capabilities and decreased overall cost. Stellex, guaranteed complete redundancy and 24 * 365 uptime, provided revenue management systems for the wholesalers’ interaction, reservation center support, and blocks management....
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...Supply and Demand Simulation This paper discusses the Applying Supply and Demand Concepts simulation from the student website. First, it seeks to identify two microeconomic principles and two macroeconomic concepts presented in the simulation with explanations why they are categorized as macro or microeconomic. It also identifies one shift of the supply curve and one shift of the demand curve and the shifts’ cause. Additionally, impact on equilibrium price, decision making, and quantity are analyzed. Different ways are referred in which concepts about supply and demand can be applied in a real life/ workplace situation. Ways are shown in which concepts of micro and macroeconomics assist in understanding factors influencing movements in supply and demand, on the equilibrium price, and quantity. Finally, it explains the way in which price elasticity of demand has an impact on consumer’s purchasing, and on the pricing strategy of the company. Two microeconomic principles from the simulation are demand and supply. “The demand curve is downward sloping, and that quantity demanded increases as the price decreases, as you move down the demand curve” (University of Phoenix, n.d.). In the University of Phoenix simulation (n.d.), Good Life could increase the quantity demanded of its rented apartments only by reducing the rental rate. “The supply curve is upward sloping, and the quantity supplied increases with an increase in price, as you move up the supply curve” (University...
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...simulation was easy to use and the graphs helped understand the curve movements better. An analysis of why different situations occurred based on the different scenarios in the simulation will be discussed. The two major microeconomic concepts discussed in the simulation are Supply and demand. Colander (2010), “Microeconomics is the study of individual choice, and how that choice is influenced by economic forces” (p.15). In this simulation, rental rates are determined based on the changes in the supply and demand. The simulation presented changes with the Lintech move into Atlantis that initially creating higher demand for the apartments. However, the demanded decreased as people seem interested in buying detached homes. In response, Goodlife converted some units into condominium to sell that decreased the rental units. Colander (2010), “Macroeconomics is the study of the economy as a whole and considers the problems of inflation, unemployment, business cycles, and growth” (p.15 ). The two macroeconomic concepts that stood out were the price levels and growth rate of population. Adjusting the price levels were the key to renting maximum number of rental apartments. If the prices...
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...employees and other activists. They argue that Disney only cares about making money and not about their employees. SunCal is very motivated to get this land because they want to give Disney’s employees, along with other people in the community, an adorable place to live. Employees are cramped in one bedroom apartments with their entire family just to try to get by with the high rent. Only 18% of their employees could actually afford to live in the district. SunCal wanted to use some of the land to build 1,500 affordable condominiums setting aside 15% of them designated to employees. They argue new condominiums will also help decrease commuting traffic and air pollution. 1. The focal organization in this case is Disney, a well know Entertainment Company. They are up against SunCal, a local developer from Anaheim. Both companies are fighting for the right to build on land that falls within the Disney district. SunCal wants to use the 26-acre lot to build affordable homes...
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...MKT307-OL Marketing Concepts Mars Retirement Condos Christina Storey March 6, 2016 Executive Summary: Life on Mars is considered adventurous, expensive and known to only the few. Yet, what if there is a way for people to live their dream on Mars during their golden years. Instead of living your last days in Florida or Arizona; why not see the stars from a different view. There is no traffic to worry about driving in or being alone. You will have everything you need and want in a community of people that want the same fullness and luxury of life as you do. The condos come with two bedrooms and one bathroom. There is plenty of activity to do and restaurants that have top chefs. You can walk through the botanical garden, plant watermelons in the community garden, go bowling or watch a movie in the cinema. We have live performers come once a month to entertain you that are included in living in our facility. The condos on Mars will be built within five years from giving permission to build. It will cost 10 billion dollars to build. The facility will be like a city with shops, restaurants, spas, gardens and many more activities to keep everyone busy. The facility will be painted by artists to make the sky look blue as on Earth. The facility will come with its own heating, oxygen and water producing so we do not need to worry about basic survival on the red planet. Once a month, a shuttle will take people to Earth or bring them back to the condos in Mars. ...
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...Residents can stop renting and start living life for an affordable price. As an added benefit, this property offers fairly low condo fees. From comfortable amenities to a desirable location, these condos include everything residents need to enjoy their new home. Amenities at the Condominium Located at 4 Hallmark Drive, this condo community is filled with modern conveniences. Within these units, residents will find gorgeous cork floors. This type of flooring is known for its beauty, but it is...
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