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  Second Quarter 2009 Market Update It’s hard to believe that we are into the later months of 2009! Before you know it, tax season will be upon us and it’s important for you to be aware of the tax benefits of real estate ownership in Wyoming. In addition, I’ve summarized our year-to-date real estate market trends ending June 2009. How does Wyoming offer residents exceptional tax benefits….. Wyoming has been consistently rated as the #1 most wealth friendly states by Bloomberg Wealth Manager and other similar publications. Wyoming’s ability to provide such benefits to its residents is a product of a resilient economy, which in large part is driven from its rich mineral revenue base, which often leads to a budget surplus around $1 billion per year. Highlights, which you can discuss with your legal and tax advisors include: • Wyoming has no state income tax, corporate tax, estate tax, capital gains tax or trust tax, excise tax; sales and property taxes are among the lowest in America. • Wyoming has adopted a progressive version of the Uniform Trust Code and has extended the Rule against Perpetuities to 1,000 years for trusts administered in Wyoming. It is one of just a few states where a family trust company can be formed and administered without regulation by the State Banking Commission. • Wyoming has recently legalized asset protection trusts for qualified assets and allows ownership of real and personal property in forms that provide significant asset protection as compared to other states. • Wyoming's progressive trust and asset protection laws combined with its being a "no tax" state makes it the best onshore tax haven in the United States. 2009 Year-to-date Real Estate Market Report… Local economic indicators in June didn’t paint a positive picture for the local economy with National Park visits down 4%, Jackson Hole Airport enplanements were down about 19%, and hotel occupancy throughout the valley was down 16% in June. Overall the local real estate market continues to feel the effects of the economy with Teton County sales down over 66% as of the end of June and inventory was 40% higher than 2008 and 105% higher than 2007. We are starting to see Sellers reducing prices more frequently and Buyers looking for opportunities to invest. In the second quarter of 2009 there were twice as many sales as there were in the first quarter, and May, June, and July are up month over month, with July looking like the best month to date.
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