Archives of real estate blog entries for February 01, 2010

Featured blog posts


By Missy Caulk, Savvy Realtor - Ann Arbor Real Estate
(Missy Caulk TEAM)
This week I had Mary McKnight updated my fan page Ann Arbor Real Estate Talk on Facebook. She added my home search site to it.       Mary wrote a post on how to do it on her blog, Sacrilicous Marketing.  She has been able to integrate search sites for Tiger Leads, 1ParkPlace, Wolfnet, Z57. But, really she is so smart I am sure she can figure out how to do your search site. While your over there I also have another new fan page for A2BreakingNews. Pat Kitano created that one for me. I ONLY invited Ann Arbor Area friends to that one, because it is really targeted to everyone in Ann Arbor. Since then I have connected with many Ann Arbor people I did not know before.                                           I am big on letting people who know what they are doing DO IT, when it comes to pro...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
After posting on Facebook this question..... "So...how many 'friend requests' did you all accept today? How many do you REALLY know?" a conversation ensued. Later on down the line the discussion turned to a Facebook vs. ActiveRain conversation. An excerpt from the conversation:  The reason I don't like AR is because of their control and they are the ones that, in my opinion, get the google juice instead of me. All the stuff I've read says to direct people away from the likes of AR and onto your own blog. Just my biased opinion I guess. I decided I didn't want to market to realtors or pay the extra $ to get clients when I can do that for free on my other 4 blogs. That's the real reason I guess I'm not on AR any longer. Maybe I'm wrong.from the likes of AR and onto your own blog. Just my ...
Comments 109
By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
LIMITS ON MORTGAGE INTEREST DEDUCTION was once a "sacred cow" of tax law.  No more. The American home owner is square in the sights of the budget released today.  On October 25, 2008, a bolt of lightening struck me and I realized that there is no income protection safe from the government's zeal to play chess with the American tax payer's assets. An article published by the Wall Street Journal, back in Oct. 2008, discussed the government's need for cash to fund programs that were being discussed by members of Congress. These days, the Wall Street Journal discussed the Obama budget's plan to limit ALL deductions for tax payers earning $250,000 or more.  "But as in last year's budget, Mr. Obama proposed Monday to go further by limiting the value of those benefits, which include deductions...
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By David Dee, Real Estate - San Gabriel Valley (L.A.) & N. Orang
(RMX REALTY)
Agent does not answer calls only email. Is this how you operate your real estate business? Is it getting you anywhere? As I was searching for properties to send to my clients, I stumbled upon a listing which had the verbage shown above. It states that the agent will not respond by phone but only communicate via email. I know technology is great and that we cannot live like dinosaurs but not answering any phone calls is rather ludicrous. I called the phone number anyways and got a voicemail which states that to leave a message as it is an answering service. Wow! Is that high tech or what?! How can you NOT afford to answer the phone? With the fast paced society we are in, it makes sense to pick up the phone. Many consumers nowadays will move on to the next person if they don't get a live ...
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By Barry Owen
(Pareto Realty)
It snowed here in Nashville on Friday! This was a BIG snow for us - @ 5 inches with a nice 3/4 inch topping of ICE. It was beautiful, and it paralyzed the city. Nashville doesn't have much experience with snow. 2 days before the snow, the public works department began brining the major roads. That's prettty much the city's only defense against snow and ice because we don't get a lot of snow. We are VERY under-equipped when it comes to clearing snow - not enough snow plows. Other signs of inexperience? - One of the few plow drivers "Hit something on the curb and flipped his truck" - There's one LESS truck - HUNDREDS of vehicle accidents and 1000s of abandoned cars. - Inexperienced snow people don't seem to know better than to drive around when there's ICE on the roads . . . Having a 4x4 ...
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By Roger Johnson, Realtor - Hickory NC Real Estate
(Hickory Real Estate Group)
There has been article after article and blog post after blog post on the subject of strategic defaults and the 'moral dilemma' of it (or lack there of, if that's your position).  Many believe that it is immoral for a person to decide to strategically default on their mortgage.Let's stop there for a minute and define strategic default.  In a nutshell, strategic default is when a borrower who is financially capable of making the monthly mortgage payment, decides to stop paying and let the bank foreclose on the property.People who think that it's immoral to make the decision to default strategically have pretty much called those that do every name in the book.  The best: if you can pay, but choose not to, you're a low-life, greedy SOB.  My response to this is pretty simple: umm...so were ...
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By Michelle Flaherty
(Prudential Northeast Properties)
  Does anyone else feel guilty when this happens to them?  Yesterday I showed a few condos in one complex to some of my favorite entry-level buyers.  I called to set up the showings with the listing agent, and she set "ok, you're good to go - see you there!" These listings were outside of my market area - within which, listing agents never attend showings unless the property is extremely high end.  These were $85,000 condos, and it was Sunday. I guess on some level, the fact that the agent got dressed up and took time out of her weekend to meet us at an entry level condo did introduce some level of pressure/urgency to produce an offer; but in a lot of ways it broke up the process that would lead to that exact thing.  And don't get me wrong - she was great - really professional, knowledg...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Feedback on a showing appointment is important to everyone.   This is one of the promises I make to my sellers when I list a home – I will do all that I can to get feedback and pass in on to you.  I have seen posts from other Realtors who feel the same, puzzling on why agents don’t provide it – it’s a courtesy that goes with the territory.  I am meticulous about giving feedback – knowing how important it is and thinking that I may achieve good “feedback karma” – what goes around comes around!    However, I found another excellent reason to give detailed feedback that surprised me and might encourage agents to not only provide the courtesy of feedback but it might just benefit your buyer.  My buyer saw two homes she liked.  One was a ranch with a door wall from the kitchen to a good-si...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
As a lender, I'm interested in property taxes on a purchase transaction because they directly affect a borrower's Debt To Income Ratio.  A REALTOR referral partner of mine recently sent me a first-time Tucson home buyer of less than substantial means.  The buyer's income restricted the purchase price of the home severely, but his credit was good, and there was nothing unusual about qualifying him.  In today's market, it's possible to buy a Bank Owned foreclosure in greater Tucson for less than $80,000.  That's just what the REALTOR found for his buyer, and they were excited to write the offer.  That's when I found that the property taxes for this particular home were more than 1/3 of the total monthly PITI payment for the buyer, and it killed the deal on that particular house.  He coul...
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By Lori Cain, Midtown Tulsa Real Estate Top Producer
(Own Tulsa)
My Listing Sales Book - a Valuable Sales Tool When I list a property for sale, I prepare a Listing Sales Book that I keep in the kitchen or on the dining room table where the Buyer’s agents and Buyers will easily find it. In it, I include several items that may answer the Buyer’s questions while they are viewing our property. I include the Seller’s disclosure. Having the disclosure on site will be a quick reference for the Buyer’s agent if the Buyers want to know the age of the roof or ask if there have been any foundation repairs. I include a CMA (Comparative Market Analysis) to show how the Sellers and I arrived at the price. I’m getting ready to list a property in a neighborhood where 1-car garages are the norm. Out of the last 19 properties sold, only four had a 2-car garage. So, ye...
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By Donna Ross, Home Decorating, House Staging, Sydney
(Room Remedy Interiors, Sydney, Australia)
Just like any good business operation you need a plan and to set some goals. And selling your house is no different. Because if you go into the whole selling process with your seller's eyes wide open, you'll be able to see very clearly where you're going, and what it's going to take to get you there. Time and time again home sellers fail to ask themselves; "What's the number one thing I need to get from the sale of my property?" You've probably got a few selling goals in mind even if you've never spoken about it out loud. For most of us the final sale price usually ranks right up there. As a property investor myself, I have 2 main goals. First for me is a good (albeit realistic) sale price. The second goal I set for myself is a speedy sale. After all, who wants to live in a show home fo...
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By Bob Haywood, BobHaywood.com
(McGraw Realtors)
I was doing some research for a new listing this morning when I came across the following question.  It was posted on www.city-data.com "My family and I are relocating to the Tulsa area soon. We are searching for a home to buy in (names of communities). What neighborhoods do I need to avoid moving into in any of these places?"   How would you answer that question?Think about it for a second...Got your answer???   I counted at least four people who answered the question, including one appraiser.  If you are a Realtor and you chose to answer that question, you would be in violation of the Fair Housing Laws.  This person apparently had a pretty sharp Realtor.  Here's what they said about what their Realtor told them...   "My Realtor keeps telling me that they legallycan not disclose or per...
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By Lora "Leah" Stern 914-772-4528, Real Estate Salesperson
(Coldwell Banker, 170 N Main Street, New City NY 10956)
You Finally Found The Perfect Home!! - What Next? Congratulations!  You finally found the home of your dreams and you're ready to sign contracts and go into escrow.  What next? A home inspection is routinely the next step in your home buying process and a crucial one.  So, what exactly is a home inspection and what does it include? One of my favorite Rockland/Orange County home inspectors is George Famulare.  At the time of 9-11, George worked in the area managing several million square feet of property;  He was a 9-11 survivor and for a period of over two years thereafter, he was on the site daily managing a recovery and restoration effort.  He knows construction and tries to share with his clients basic tips on how to care for their new home and maintain it safely.  He not only inspec...
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By J. Philip Faranda, Broker-Owner
(J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY)
Closing costs on a New York transaction can be quite high. The state has a high transfer tax, municipalities, especially New York City, have their own tax, and title insurance is expensive. Otherwise qualified buyers might need to finance some of these costs, and a the mechanism for doing so is a seller concession.  There are times when it is appropriate to ask the seller to pay the buyer's closing costs. In my experience, those times always include necessity. If the contract price will appraise and the cash position of the buyer is such that 3% assistance for example, will enable them to buy, it is perfectly valid to propose a seller concession. This makes the transaction a team effort: the seller concedes equity that they might otherwise pocket, the buyer is able to finance all or par...
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By Jim Frimmer, Realtor & CDPE, Mission Valley specialist
(HomeSmart Realty West)
Many months ago Russel Ray, Marketing & Business Consultant, convinced me to join ActiveRain and start blogging. So I did. And what do I have to show for it? Knowledge, extended family, friends (even conservative ones, I think☺), virtual travel throughout North America, and so much more. It was hard, though, especially when my first few posts got few comments. In honor of my reaching 400,000 points this past weekend, I thought I would go see who joined ActiveRain in January 2010 and introduce some of them to you as my way of giving back to our Community. Go visit them. Welcome them. Leave a comment in their blog. Make them feel like a part of our Community. These were the qualifications to make my list: Joined ActiveRain in January 2010. Must have uploaded a profile picture. Fewer than...
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By Mark Palermo
(RE/MAX Star)
I have been actively pursuing and closing short sales for over a year now and have seen my share of curious lender actions that defy reason. But today, I experienced my first short sale denial from Chase. And the reason...well, let's back track a bit to paint the picture. My client, as with all clients that seek a short sale, is grossly underwater and is suffering from a financial hardship due to job loss. As is customary, we submitted the complete financial package, listing agreement and purchase offer back in September. After four attempts, they finally admitted to receiving the complete package. After the formal acknowledgments of receipt of docs...as with all short sales...there's the wait. I have never understood this part. They say it's a volume issue, but during the loan boom ear...
Comments 22

Blog posts


By Home Design, Home Design and Real Estate
Are you looking for Kennesaw real estate that is priced for value?  If yes then check these Kennesaw subdivisions out!  You will find some great deals on re-sale homes including short sales and foreclosures.    Find Homes inKennesaw SubdivisionsStarting at 100k(Updated Daily) Village at Pine Mountain100k-130k Carrie Farms100k-150k Oakhill100k-150k Owens Meadow100k-150k  Deerfield100k-160k  Winchester Forest100k-190k  Kennesaw Acres100k-200k  Country Side120k  Pine Hills120k  Tower Grove120k-140k  Red Rock Hills120k-160k  Park at Bells Ferry120k-180k  Bent Creek130k  Country Creek130k  Shiloh Ridge130k  Tara130k  Yonah Valley Estates130k  Emerald Oaks140k  Fairfax140k  Kings Crossing140k  Pine Mountain140k  Cedarcrest140k-160k  Ivey Park140k-160k  Stilesboro Cove140k-160k  Winterset140k-...
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By Jason Jernell, Real People-Real Dreams-Real Results
(Jernell Realty)
Alright I am taking predictions is it going to be the Saints or the Colts. Send me an email let me know how you feel. Unfortnately my team the Vikings did not make it. I have licked my wounds and I am excited for this weekend. I am pulling for the Saints. They deserve a win.
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By Laura & Peter Justinius, = Alert, Keen, Committed Real Estate Professionals
(AMERIVEST REALTY)
Naples FL Morning Report for 1/30/10 to 2/1/10 Reporting on activity seen in MLS over the past 24 hours in the NA01 thru NA07 areas of Naples, FL ... we watch the NEW LISTINGS, PENDING SALES and CLOSED SALES.This area runs from Bonita Beach Road south to the tip of Port Royal and west of US41.NEW LISTINGS: 13 ranging from $180,000 to $3,750,000PENDING SALES: 5 ranging from $324,900 to $2,225,000CLOSED SALES: 1 ranging from $219,000 to $219,000TOTAL INVENTORY: 2262
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By Carey Light, Light Team of Wemert Group Realty
(Wemert Group Realty)
Great Opportunity for Home Buyers....Buy a Fannie Mae (Bank Owned) Home, AKA, HomePath Program, and get 3.5% of the purchase price toward buyer's closing costs or even appliances.  Now through May.   For a list of Home Path Homes that qualify, contact Carey at Carey@CareyLight.com. Read the news release below.  News Release     January 28, 2010      Fannie Mae Announces 3.5 Percent Seller Assistance on HomePath® Properties Incentive Part of Ongoing Effort to Stabilize Neighborhoods WASHINGTON, DC - Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the pu...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Coronado Ranch December 2009 Real Estate Resale Market Report (Homes For Sale/Pending/Sold): Listings (1/15/2010):  34 Under Contract (1/15/2010):  50 Sold December 2009:  21 Month's Inventory:  1.6 Since Last Month:  Listings are UP +6, Pendings are DOWN -10, Solds Units are UP +6. Last Month's Coronado Ranch Market Update To View Other Las Vegas Communities Click Here!
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By Kevin Wallace
(Merrimack Mortgage Company)
In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week's data and domestic story lines, it's surprising that rates actually fell. The Federal Reserve said the economy continues to strengthen Consumer Confidence pushed to a 2-year high 4th Quarter domestic output exceeded Wall Street's expectations Usually, events like these draw money away from the bond markets and into the stock markets and Wall Street preps for better corporate earnings. The movement pressures mortgage rates to rise. Last week, however, different stories trumped the headlines including a report from Standard & Poor's that said U.K. banks are no longer counted among the world's most stable. This research, in particular, triggered a flight-to-quality among investors tha...
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By Barbara Todaro, Previously Affiliated with The Todaro Team
(RE/MAX Executive Realty - Happily Retired )
  The chart displays the total units, dollar volume and number of sides closed during the month of January in the town of Franklin, Ma., according to MLS-PIN.  RE/MAX Executive Realty leads the way in all three of those categories.  There were 10 total units with 15 sides and the dollar amount totaled $2,600,000. Coldwell Banker Residential Brokerage was next with 4 units with 6 sides and total dollar volume of $2,500,000. Costello, Eddleston and Redfin following with all three producing similar numbers. The month of January was a strong month for closings for RE/MAX Executive Realty in Franklin, Ma. This representation is based on data provided by MLS-PIN who does not guarantee the accuracy and the data may not reflect all real estate activity.
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By Chris Manning, Innovator and Explorer
(Manning & Company)
2009 was an erratic year in the REO business. Brokers that were used to large inventories were suddenly picking up their signs and not moving them to new listings. Most of them were geared up for a regular flow of new assignments and found themselves unable to load their pipeline. Most watched their active listings shrink and had to respond with lay offs and overhauls of their expenses and all were faced with not being able to get their arms around their quarterly projections. We were in what appears to be the Golden Age of REO and, yet, their inventories were shrinking and they simply were not feeding well-established appetites. The reasons were innumerable – the moratoriums that lasted through April, bulk sales and auctions were no longer reserved for aged or tough to sell inventory, ...
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By Bob Haywood, BobHaywood.com
(McGraw Realtors)
I was doing some research for a new listing this morning when I came across the following question.  It was posted on www.city-data.com "My family and I are relocating to the Tulsa area soon. We are searching for a home to buy in (names of communities). What neighborhoods do I need to avoid moving into in any of these places?"   How would you answer that question?Think about it for a second...Got your answer???   I counted at least four people who answered the question, including one appraiser.  If you are a Realtor and you chose to answer that question, you would be in violation of the Fair Housing Laws.  This person apparently had a pretty sharp Realtor.  Here's what they said about what their Realtor told them...   "My Realtor keeps telling me that they legallycan not disclose or per...
Comments 83
By Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC
(Ludwig & Associates)
     Motivational Power Quote   Your Attitude Creates the Winner Edge   "For success, attitude is equally as important as ability." Harry F. Banks       As I see it. . . . . . . . Your attitude creates the winner edge    Money won't do it by itself, we can't buy continued success.   Having skills won't do by themselves; skills without a winning attitude won't get us to our goals.   What makes the difference is a winning attitude.    The winner's edge is their attitude. When they combine it with their skills with a winner's attitude they create unstoppable forward momentum.    A winner's attitude is knowing you can do it, and you will do it.   ®2010, Lou Ludwig, Sales and Management Consultant Success Coach, Speaker, Trainer and Author         
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By Celeste Messer, Austin Real Estate, Kyle Real Estate
(Adkor Realty)
27 down....497 to go in my Quest to have 524 new experiences in 2010 This one is a big one for me, up there with the connection I felt when I breastfed my daughters (TMI).  I have four daughters, 28, 26, 18 and 16, so anyone that has every raised a teenage girl will understand this entry and celebrate with me.  With my first daughter I was SURE I wouldn't experience what other parents talked about, when their sweet little girl changes personalities almost over night, doesn't want to talk and share anymore etc.  So when it happened I was truly blindsided.  I honestly thought we would be different.  That we had a connection strong enough that this wouldn't happen to us.  Wrong.  Maybe it was harder for me then because not only was I shocked, but I was so disapponted.  So when my second da...
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By Baker Home Inspection and Commercial Properties Inspections, Home and Commercial Properties Inspections Vermont
(Baker Residential and Commercial Properties Inspections)
Women's Health Resource Center REIKI Programs, casses for all agrs and stages: Important registration information 603-650-2600 All classes take place at the Women's Health Resource Center, located on the mall in Lebanon, New Hampshire, unless otherwise noted. All classcs must be paud for in full one week before the class begins. They are unable to provide refunds for any program one week prior to the class starts. The Women's Health Resource Center reserves the right to cancel any class or program due to insufficient enrollment. There are Scholarships available from donations that have been made to the Women's Health Resource Center Scholarship Fund.     Women's Health Resource Center REIKI Progams, REIKI programs, now approved for Nursing contact hours!!!   All classes will be taught b...
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By Coldwell Banker Cutting Edge, "Your Proactive, Trusted Real Estate Advisor"
(Coldwell Banker Cutting Edge)
The office I work for Chaparral Realty Group in Medford Oregon has just combined offices with Remax Realty Group in Medford to form Remax Platinum!!  WWOOOOO catchy name huh!  =)  We are all Platinum Agents now! I do a lot of SHORT SALES IN SOUTHERN OREGON, REO Foreclosures, BPO Work, Farms, Ranches, Equestrian, Commercial, and Rural Residential work.   I think the change will be great but I already miss the other little office and its location.
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By Susan Wright, e-PRO
  Kudos is due to the Pennsylvania CRS Chapter for their fundraising efforts to support the Multiple Sclerosis Society of Central Pennsylvania. Every year, the PA CRS Chapter with a Heart supports a different charity. This year's charity was chosen because of a personal connection between MS and a chapter member. Recently, through a raffle for a Flip-cam, the chapter raised $750 for the Multiple Sclerosis Society of Central Pennsylvania. Tickets were sold during the Triple Play CRS course as well as during the PA CRS luncheon held during the PAR January Business Meetings. A heartfelt congratulations and thank you goes out to all the PA CRS Chapter members who participated! Take some time to visit their website and if you're not a member, consider joining and taking part in various chap...
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By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
PDaNET is available for the DROID.  This is a software application that allows your phone to operate as a modem for your laptop and avoid the fees that Verizon charges for tethering.  For those of you real estate agents lucky enough to have the DROID from Verizon, you have something new to celebrate.  PDaNET now makes it possible to tether your DROID to your laptop anywhere and enjoy the internet for no monthly charges.  Of course you can also do that with many other devices with the software from PDaNET but we are talking about the DROID aren't we.  
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By Sue Neff, Principal Broker, Jamestown, TN
(Tennessee Real Properties)
For those of you out west, where you tout the wide open spaces, I just want you to know there are some places here in the East that are wide open and unchanging as well.  Here in Fentress County and Jamestown TN, Big South Fork country, we change very little.  This is an aerial view of our farm and it's been this way since 1996 when we built our house and two barns.  We love it. No street lights - you can SEE all the stars there are to see!
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By Kevin Robinson, Fractional Developer
The President and the Congress talk about job creation, which is quite amusing considering many of them have never been in business and don't have the first inkling of how to create private sector jobs, run a for-profit businees, and provide a worthwhile product or service. Still, they can be instrumental in new business formation and saving or creating jobs - as they are so proud to claim they are doing. Here's the solution. No personal federal income tax for all of 2010. No withholding, no deductions, no match. No tax. Businesses can begin slowly rebuilding lost market shares or reinventing themselves. They can hire one or two employees per company. The medium-sized businesses can do more. Some of those laid off can open their own businesses. By the end of the year, revenues are going...
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By Steve Merson 512 412 1621, CNE, e-PRO
(Keller Williams Realty)
Elvis recorded this version on December 13, 1975 at the Las Vegas Hilton. He sang it many times in concert and it was actually was the B-side to My Way. I share this with you today for no reason other than firstly, I am a big Elvis fan and, secondly, I woke up today thinking what a truly beautiful country this is to live in! Have a glorious day!
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By Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales
(Ocean View Realty Group in Ormond By The Sea Florida)
Ocean View Realty Group compiled this analysis of Ormond By The Sea Condo sales through the Daytona Beach Area Association of Realtors Multiple Listing Service for the 10 year period of 2000 to 2009. This is the decade in review. Ormond By The Sea Florida Condo sales statistics for the past decade.   Three new condominium buildings opened in the decade, Barrier Island at 3000 Ocean Shore Blvd. opened in 2000, the Ocean Shore Condo at 1075 Ocean Shore Blvd. opened in 2002, and the Capriana at 1425 Ocean Shore Blvd opened in 2006.  If average sales prices increased 5% each year from 2000 to 2009 the average sale price in 2009 would be $152,409 for a 2 bedroom 2 bath condo on the west side of A1A in Ormond By The Sea, Florida. Take a peek at the 10 year chart below to get the real picture ...
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By Kevin Robinson, Fractional Developer
  When Osama Bin Laden announced on Friday that he was essentially swapping Al Qaeda for Al Gore with his latest rant being on Global Warming (despite the pure evil of this man, it is hard not to find that funny!), it would seem that the world (and specifically the US Government) is willing to continue to accept the now disgraced UN Intergovernmental Panel on Climate Change's outrageous claims on the "changing planet". Not only do we know that laws were broken with regards to the destruction of raw data; not only do we know via thousands of e-mails and 72 actual documents that the so-called scientists were having repeated discussions on how to manipulate date specifically to get rid of a warming period in the Middle Ages, but now we find out that the claims regarding the Himalayas were ...
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