11/14/2005

For Whom the Toll Brother's Bell Tolls

Hello:

The market reacted negatively last week when Robert I. Toll, Chairman and CEO of Toll Brothers, one of the nation's leading builders of luxury homes, stated that the company experienced delays in community openings and some softening in demand. He further commented that the market for single family luxury homes may be entering a period of more moderate home price increase. Could this be an indicator of future changes in donations of real estate?

Sometimes the holiday season leads to impromptu family meetings. This can be a wonderful opportunity for donors to introduce topics for family discussion, such as family traditions in gifting and volunterism.

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager