Hamed Sepehri

2011-06-23T23:37:00.000-07:00

While the international millionaire population’s wealth rose past pre-crisis levels in 2010, wealth managers need to prepare as that demographic gradually shifts to younger clients, according to a new report released on Wednesday.

The annual 2011 World Wealth Report, released by Capgemini and Merrill Lynch Global Wealth Management, showed moderate growth in 2010 for high net worth individuals, or investors with $1 million or more in investable assets.

In 2010, the high net worth individual population saw its financial wealth rise to $42.7 trillion, surpassing the pre-crisis high of $40.7 trillion in 2007. The high net worth individual population’s wealth grew by 9.7% in 2010, versus 18.9% in 2009. At the same time, the high net worth individual population grew to 10.9 million in 2010 with 8.3% growth, also down from the 17.1% growth seen in 2009.

Though 2010’s growth was modest, its steadiness made for a “refreshing” change from the market turbulence of the last several years, John Thiel, Bank of America’s head of U.S. wealth management and head of the private banking and investment group said Wednesday. “It’s more the same as usual, and we haven’t had that in a long time,” Thiel said.

North America still tops the list for the highest number of high net worth individuals, with 3.4 million. Asia-Pacific, which had 3.3 million, surpassed Europe, 3.1 million, for the first time. That marked continued growth for the Asia-Pacific region, which surpassed Europe in 2009 for the largest concentration of high net worth individual wealth.

North America also came in first for high net worth individual wealth in 2010, which rose 9.1% to $11.6 trillion. Asia-Pacific came in second with $10.8 trillion, a 12.1% increase from the year before. Europe’s high net worth individual wealth rose by 7.2% to $10.2 trillion.

One key way wealth management firms can work to improve their practices is to brace for the increasing share younger high net worth individuals, ages 45 and under, that will make up more of the millionaire population in years to come, the survey said.

Individuals age 45 and under comprised 17% of the high net worth individual population in 2010, up from 13% in 2008. Asia-Pacific, which has seen its population of entrepreneurs surge, had 41% of its millionaire population represented by those ages 45 and under. North America, by contrast, had just 10% of high net worth individuals in that category, while 68% of its high net worth population was over 55-years-old.

The demographic shift toward younger generations claiming wealth has been slow, changing only about one to two percentage points in recent years, but is expected to undergo a larger shift over time. But because financial advisors lose about 49% of assets under management through generational wealth transfers, they should be prepared with plans to both retain and attract younger clients, the survey said.

That includes emphasizing real-time communications with technology, as well as transparency and efficiency to curb any mistrust they may have following the financial crisis. For Merrill Lynch, part of the plans to address that population also includes bringing younger financial advisors into its ranks, particularly through its training and development program, Thiel said.

The industry should also expect equity allocations to increase even more in 2012, the survey said.

In 2010, the high net worth individual population has also moved increasingly toward equities from the cash, deposits and fixed-income instruments favored in recent years. At the end of 2010, 33% of high net worth individuals had all of their investments in equities compared to 29% in 2009. In North America, 42% of those investors had invested in all equities versus 36% in 2009.

Buy An Apartment Building With No Money Down- Is It Realistic?

2008-06-12T12:52:00.000-07:00

Author: Ted Karsch

The brand new apartment building investor/buyer should be aware of what I consider to be the most important rule to multifamily investing:

First, the new apartment investor MUST find a profitable property
This may sound obvious but, in my role as an apartment building financing specialist, I speak to dozens of aspiring investors every week who call me or email me saying that they found a great piece of real estate, with a super CAP, in an excellent area, that is 95% occupied and that they would like to find a loan to purchase the apartment building. Unfortunately, many of these “great opportunities”, upon closer inspection of such documents as rent rolls and the income and expenses, it becomes clear that the apartment building does NOT “debt service”. This simply means that the real estate does not produce enough income on an annual basis to cover all expenses including the loan payments, taxes, insurance and maintenance costs. After doing the math, the investor goes back out into the field, armed with more knowledge. Persistence usually pays off because there are plenty of profitable properties for sale, it just takes some time to find them.

After finding a profitable apartment building THEN the investor should seek financing
Commercial mortgage companies and apartment building lenders almost always require a buyers contribution to be 20% of the purchase . The purchase price shouldn’t be confused with what the buyer thinks the property is worth, or even what the real estate recently appraised for. Banks are only going to lend money based on the purchase price of the apartment building. Of course, there are exceptions to this rule. One exception is when the investor is purchasing the place to do a construction rehabilitation of the property. In this case, the loan process is usually more involved and more documentation is required.

Many of the potential apartment building buyers that I work with don’t have the liquid capital required for the 20% down payment mandated by the bank. Here are some of the strategies that DO WORK in the real world. There are no secrets, despite what many “real estate gurus” will you, to financing an apartment building investment with no or little money down.
Many investors are not aware of all the creative methods that can be used effectively to raise investment capital. Here are some of the ideas that I have seen be successful in the real world, with real investors, buying real apartment buildings with less money down.

1) Incorporate a limited partnership and raise money from other investors. Forming a limited partnership for the purpose of raising money for an apartment building investment is a great solution if the investor does not currently have the liquid capital needed for the 20% down payment. A limited partnership should be formed under the direction of an experienced real estate attorney who understands the intricacies of this kind of partnership agreement. The limited partnership normally consists of one general partner and one or more limited partners. The general partner is the only member who has the power to make executive decisions concerning the apartment building investment. The limited partners invest their money with the expectation of receiving a return on their investment when the property is sold or as structured payments from monthly net cash flow. The investor/general partner should prepare detailed financial statements on the project to present to potential limited partners in order to convince them to invest their hard owned money. A good real estate attorney should be able to help with this aspect of the partnership as well.

2) Raise capital from friends and family This may seem like an obvious solution but it is surprising how many investors neglect to look close to home when trying to fund a good apartment building investment deal. Unfortunately, if the investment doesn’t work out as intended the investor not only is risking his investment capital but he is also risking a close friendship or good relationship with a family member. Because of this it is generally a good idea to have a qualified real estate attorney draw up a formal agreement that clearly spells out the responsibilities of all parties involved.

3) Obtain owner financing Most owners of apartment buildings are experienced investors who are financially adept. They are accustomed to receiving and utilizing some form of owner financing to structure their investment projects. Many great properties have been purchased from sellers who have for some reason or another neglected the property or are ready for retirement. Sellers who are motivated to relinquish ownership of their apartment building will be more willing to offer some form of flexible owner financing.

Investing Through New Construction

2008-06-12T12:47:00.000-07:00

Author: Heather Sei Tz

If you think that because the residential real estate economy has gone bust that there is no way to make money in this market right now, think again. There are thousands of upscale neighborhoods across the United States in which new construction of homes was halted because of the collapse of the real estate market. Most of the homes that were under construction had been purchased by real estate investors who hoped to flip the home upon completion to a new buyer and make a sizable profit.

When it became apparent that the majority of people who were commissioning new construction homes to be built were investors and there were not a lot of buyers, the entire market crashed. Investors lost money and many developers went out of business. They had a lot more homes in their new subdivision for sale than there were buyers. On top of that, they owed banks money for financing the subdivision. Pretty soon, banks took over these areas, which are located throughout the United States and particularly in Florida, California and Nevada. These areas were booming in the 1990s and then crashed.

There are many homes in these upscale neighborhoods that are in the process of construction. When the builder went bankrupt, the construction was halted. Banks took over but have no interest in getting these properties constructed. They are simply looking to get their money back.

If you know about new construction or are in the trades, you can buy one of these partially constructed homes for a fraction of their cost and finish the construction yourself. You have to be careful, though, that you understand what you are getting into.

You will have to know about building codes and make sure that the home is completed in accordance with the codes. In addition, you should also be aware that some municipalities have ordinances that require that construction be completed within a specified amount of time. If the house has not met that specification, there may be fines associated with the property. A title search will allow you to discover if there are any fines that have been levied against the property from the municipality for non completion of construction.

In addition to doing as much of the work on your own, you can also find labor relatively inexpensively throughout the United States. The trades were hit hard during this recession and there are many people who are experienced in all aspects of home building that are out of work. Many small trade companies have even gone out of business. You can find cheap labor to help you finish the construction of your house.

Buying new construction is usually a way to make money in real estate during any type of market. But even in this recession, you can buy partially constructed homes, finish them and then get ready to sell. Although you may make a small profit selling the home after construction is completed, you can make an even larger profit if you look for the long term investment and wait until the market turns around.

What Is A Deal For Real Estate Investors- A Real Estate Agent's Guide

2008-06-12T12:44:00.000-07:00

Author: James Orr

As an active real estate investor and someone who teaches real estate investors, I am often asked by other real estate agents and real estate brokers what is a deal for real estate investor clients.

So, in my opinion, there are really four things that make a potential property a deal for real estate investors. You do not need to have ALL four things, but having more than one makes it potentially a better deal for the investor.

First, you should try to find property that is being sold for below current fair market value. In order to know if a deal is below current fair market value, you need to know or pull comparable sales. What some investors and many agents don’t realize is that houses listed for full price does not necessarily mean that they will sell for full price, but finding deals where they are listed below current fair market value makes them more attractive to start with.

Second, deals should have great positive cash flow. In many markets this is near impossible to find with straight rentals and high loan to purchase price ratios. However, in some markets it is a huge factor and you should know that rent minus mortgage payment is NOT a cash flow calculation. There are more expenses than just mortgage payment like taxes, insurance, maintenance and management that need to be included in a cash flow calculation. In other words, it is not enough to say a house that has $1,000 per month rent and a $900 per month mortgage payment has positive cash flow; it does not.

Third, deals should be sold by motivated sellers. Motivated sellers are more likely to accept offers that are discounted and/or offers that are creatively structured.

Fourth and finally, deals should have owner financing. Especially in our current credit situation, deals that include owner financing are much more attractive to investors than cash (or traditional financing) deals. The challenge is that most deals listed in the MLS will never mention owner financing. You don’t get it unless you ask in an offer.

In conclusion, finding deals for your investor clients should have one–and in many cases, more than one–of the above. The more the better and showing your investors deals that do not have one or more of the above will lead, ultimately, to unhappy investor clients and little or no repeat business.

Investing In Urban Areas

2008-06-12T12:42:00.000-07:00

Author: Darral Simmons

SMART WHOLESALE INVESTING
Investing in urban areas of your city is a smart real estate investment. Most cities are rehabbing their urban areas. With gasoline prices at over $3.00 a gallon, developers and cities are pouring money into redeveloping urban cores. Urban areas are close to the city so driving distance is cut down and the older housing is well built quality housing.

SUPPLY OF BUYERS
People are moving back to the urban centers of their cities to be closer to their jobs. The future is in urban developments. Developers are building supermarkets, retail stores and restaurants in these areas so that you can live and work and not have to leave the area. There are a lot of buyers and investors who are interested in buying urban real estate properties. Lofts are increasingly popular. Wholesalers are rehabbing urban properties and adding them to their portfolios because there is a large pool of buyers and tenants who want to live in these types of properties.

WHOLESALERS IN CHARGE
I believe in the future that wholesalers will be the majority in charge of the real estate industry. The reason is that a large majority of people are not being responsible with home ownership. There is a great opportunity for wholesale investors to earn income buying and selling rental real estate in urban areas.

CHANGE YOUR MINDSET
A key to successful wholesale real estate investing is not to look at properties that you want to live in and fix up with granite and whatever else. You want to buy low and sell high. Start with median price homes. They are easier to flip and there is a greater pool of investors and buyers that you can market to. You can always move up to higher end properties later if you want. Keep in mind that higher priced properties are going to sit on the market longer because there is not enough investors that deal in fast flipping of those types of real estate properties.

THREE BEDROOM HOMES
From my years of experience wholesaling real estate three bedroom, two bath homes is the best investment. They are easiest to sell. Traditionally, two bedroom, two bath or one bath properties are more difficult to sell because there is not enough square footage. Consider a two bedroom one bath that can somehow be converted to a three bedroom, two bath as a good commodity also. What we call these types of properties is investment grade homes.
However, during the last 5 years, I have had some success wholesaling two bedroom homes because many single first time buyers have purchased these types of properties for investment and to live in.

KNOW THE VALUE OF YOUR INVESTMENT
It is important to know the wholesale value of any real estate investment that you make. Run your numbers, do your homework. A lot of information on sales of comparable properties and rentals can be obtained for the local MLS or your Realtor or other programs. Having the right information and being able to analyze and project is the key to your success. Decide before you invest whether you will rehap the property to flip it or whether you will hold on to your investment, letting it appreciate and receive a positive cash flow from your rental income. Buy smart, this is a business. Keep your emotions out of play.

Below Market Value Property (BMV)- The Dream Ticket for Property Investors?

2008-06-12T12:36:00.000-07:00

Author: Chris Horne

What are Below Market Value (BMV) properties?
BMV is an abreviation for the term Below Market Value.

Below Market Value (BMV) properties are residential properties that are available below their market value. This is normally because the owners are faced with some kind of financial difficulty and want to or need to dispose of their property quickly and without going through a protracted marketing and sales process. The precursor to this is quite often the threat of repossession.

In recent years, a whole new industry has sprung up around Below Market Value (BMV) properties. Property investment chat rooms are full of individuals claiming to have found a Below Market Value (BMV) property at a 10%,15% even 20% below its market value.
As a trained surveyor my first reaction to this is ‘poppy cock’. There really is no such thing.
The guidance from the Royal Institute of Chartered Surveyors on how a surveyor should value residential property is contained in Appendix 5.1 of the Royal Institute for Chartered Surveyors Appraisal and Valuation Standards (Red Book). The basis for the valuation of a residential investment property is normally its’ market value. Market value is defined in the Chartered Surveyors hand-book as:

‘The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.’

Therefore, if as an investor you think that a property is worth £200,000 because maybe a similar property sold for that last year, and you buy it for £180,000 you might conclude or be told you are getting the property for 10% Below Market Value (BMV). Rubbish, if the property has been marketed i.e. advertised by an estate agent and unless you have held a gun to the seller’s head, the market value of that property is £180,000.

How do I beat the credit crunch?
Where a Below Market Value (BMV) property could exist is if the property was not fully marketed first. This situation occurs where property buyers are able to access so called ‘distressed or motivated sellers’ who cannot afford or want to go through the normal marketing and sales exercise. To find out how to access motivated sellers.

It is also true that because of the speed and unpredictable nature of the auction process (you are never sure how many and what buyers you are going to get) it is possible that properties bought through auction could be described as being Below Market Value (BMV)

The Below Market Value (BMV) Property Industry
The new Below Market Value (BMV) property industry has emerged during the current property boom because companies have latched onto the large potential profits of buying property at a discount and then renting these investment properties back to their original owners. Favourable financing conditions have meant that these companies have used their instant paper profits they make on these transactions to borrow additional funds to expand their operations. The industry even has its’ own trade organisation called the Property Buyers Association (PROBAS) comprising of companies that offer to purchase a distressed sellers property for cash as well as sorting out the legal side of the transaction.

Morally there are arguments for and against these companies who use their ‘negotiating’ skills and the desperate situation of the seller, (who often need to get their hands on cash fast;) to obtain a significant discount to the value of the property. They argue that they are providing a useful service for their clients; others would say they prey on the vulnerability and desperation of the less fortunate members of our society.

Beware of the Below Market Value (BMV) ‘middle men’
This new industry has given rise to a spin off sector aimed at landlords & property investors who want to emulate the success of these companies by locating their own ‘motivated sellers’ and purchasing Below Market Value (BMV) properties that they either keep or sell on at an instant profit. Companies and individuals have set up to exploit this property investor led feeding frenzy. Property investment chat rooms such as Russ Whitney have been taken over by chumps masquerading as property professionals, whose previous job, if they had one was probably opening the door to a load of drunken teenagers in a city centre bar.

These individuals set themselves up as Below Market Value (BMV) gurus and introducers either offering to sell their full-proof Below Market Value (BMV) finding system or increasingly to sell potential investors so called Below Market Value (BMV) leads to individuals they have tracked down who are ‘desperate to sell’.

The question is always, why? Why would these individuals be passing on leads for so called Below Market Value (BMV) properties if they are such great deals? The simple answer is that they are ‘chancers’. If they can sell a few leads for a couple hundred pounds and then an introducer’s fee for the sale of a property at a couple of thousand, it’s not a bad days ‘pay’!
One only has to look at the whole off-plan debacle for parallels. Here again naive and overly ambitious property investors were manipulated by unscrupulous middle men out to make a ‘fast buck’. The result is that many property investors have been left high and dry having over paid for new investments and are now facing financial heartache for many years to come.

Below Market Value (BMV) dangers
These are not the only dangers lurking with Below Market Value (BMV) properties. Even where a landlord manages to side step the middle men and does all their own leg work there is a little know hidden danger with so called Below Market Value (BMV) property which all relates to the provisions of the 1986 Insolvency Act.

The result is that a landlord who legitimately purchases a Below Market Value (BMV) property could find that several years down the line and unbeknown to them that the seller has become bankrupt and suddenly their trustee is coming after the landlord with a court order to either reverse the sale or claim back the difference between the open market value of the property and it’s sale price. This is because the Insolvency Act allows trustees of a bankrupt to protect themselves from the bankrupt giving away their assets or selling them at below the market price. A landlord purchasing a Below Market Value (BMV) property is potentially exposed to these provisions for up to 5 years assuming no fraud or the parties are associated in any way.
It is possible for a landlord who is looking to invest in a Below Market Value (BMV) property and is worried about getting caught out by this legal loophole to cover them self. What they need to do is to get the seller to Execute a Deed of Solvency and thereby effectively sign an undertaking to say they were solvent at the time of the sale. A landlord’s solicitor as part of the transaction will then need to arrange an insurance policy. This policy will cover the landlord for the two year period from the date of the transaction in which they are exposed to the potential that the seller goes bankrupt and that the trustee can make a claim against the landlord to set-aside the transaction.

Property investment karma
The older I get the more I believe in the karma of property investment- ‘what goes around comes around’. Let’s not forget that much of the promised profit from Below Market Value (BMV) properties is at the expense of desperate and easily exploited individuals who have ended up in financial difficulties. There is some poetic justice in a property investor motivated by greed and prepared to exploit vulnerable individuals to end up with: a ‘crap’ investment property, occupied by dodgy and bankrupt tenants, who are then taken to court by disgruntled trustees and to top it all because of a falling housing market end up paying more than the property is in fact worth.

5 Steps To Help You AchieveProperty Investing Success

2008-06-12T12:32:00.000-07:00

Author: Carlton Johnson

Over 90% of the richest people in the World have become wealthy through investing in property. As well as this, a large portion of the people that didn’t become wealthy through property, now use property as their preferred investment vehicle to either create more wealth or to protect the wealth they already have.

This article will teach you 5 steps to property investing success. After reading it you should have a better understanding of what it takes to become wealthy through property and what sort of sacrifices you will have to make to get there.

1. Make better use of your time. What do you currently spend most of your time doing? Most people spend the biggest part of their time either at working or sleeping. In fact, including the commute to work, many people spend about 18 hours of every working day doing these activities. However, what they do with the other 6 hours and what they do with their days off (assuming they have that luxury) is what holds the key to their property investing success.
You might do vital things like get time with your family, but what about things like watching T.V. or playing video games, or even going down the pub. If you sat down with a pen and paper and wrote down how much time you spend on these, none essential activities, you might be surprised at how much time you are wasting that could be spent doing other things, such as learning about money making or actively investing in property. Including the weekends, many people spend about 18 hours a week, watching T.V. If you could cut this down to about 5 hours a week, it could have a massive impact on your life.

Successful people generally don’t spend every afternoon, sat glued to watching Eastenders. Do you really think that this is how Richard Branson or Philip Green spends their time?
Cut down, or cut out totally, anything that you currently spend your time on that has know real benefit to your future happiness, wealth and prosperity. Once you have decided what you want out of life, then focus your energy into activities that will help you achieve your goals.

2. Make your money work for you. If you are used to getting paid an hourly or a daily rate, then the chances are you are probably not very wealthy. It’s a fact that the richest people in the World do not get paid by the hour. They master how to get their money to work for them so that even while they are sleeping they are accumulating wealth. This maybe the single most important thing you should learn to you help get you out of the rat race.

3. Set goals. Setting goals is crucial to your success. If you don’t set goals you will be aimlessly wondering through life. There is a small chance you might be successful, but if you set goals you are much more likely to be even more successful. You need to plan where you want to go and what you want to do. On top of this you need to understand why you want to achieve what you want to achieve.

4. Strategy. Setting you goals will set out what you want to achieve, but planning your strategy will tell you exactly, HOW you are going to achieve it. Goals are useless without a strategy of how to achieve them. When you plan your strategy you need to plan down to the nth degree and have back up plans that will mean if something unforeseen happens, you can still overcome it and meet your goals.

5. Mix with the right people. This can be online through property forums or in person at property networking events or any other way you can think of. It is vital to your investing success that you mix with people that have similar goals to you and/or that have already achieved what you want to achieve. You might all of a sudden find that all your friends and relatives are telling you that now is not the time to get into property and that you have already missed your chance of making serious money from investing. The only way you are going to be able to continue to believe in the face of negativity from those who care for you is if you have proof around you of those that have succeeded and continue to do so.

It still is, and perhaps always will be, possible to achieve property investing success. This success is available to anyone who is prepared to follow the steps and make the sacrifices today that will insure their future tomorrow.

The Basics Of Investing In Real Estate

2008-06-12T12:24:00.000-07:00

Author: Kent Hamilton

Investing in real estate has made people independently wealthy than any other type of investment, but it is not a venture to be taken lightly. There are many things that anyone starting a rental business should know before they are investing in real estate.
Of course, if you are going to be investing in real estate, you are going to need to successfully evaluate properties for their investment potential. The potential of a property depends upon so much much more than its rent. Several other factors go into determining if a property is a sound investment. In addition to familiarizing yourself with these factors, you are also going to need to know the law regarding landlords, tenants, taxes, discrimination, and accounting.
Initially, you need to decide what type of property you want to invest in. For example land, commercial, residential, etc. Residential properties are defined as single family homes, duplexes, and multiplexes even though structures with over four units are sometimes considered commercial property.

Second, when you decide to start wholesaling real estate, you need to determine where that real estate should be. You might decide to stay close to home, or to buy property near places you would like to visit or to spend a vacation. You may be able to write off travel expenses. You may also want to seek real estate in growing communities and places where real estate is expected to appreciate, but this is a much riskier way in which to invest in real estate.

There is still a good amount of speculation even though the high number of foreclosures on the market today would make you think that it is a no-brainer. When you take the risk of flipping a property you increase the rate of short term capital gains and these added taxes and expenses are unavoidable.

This type of real estate investing can be compared to day trading. It has the potential to make a lot of money quickly, but it also has the potential to lose a lot of money fast. This is not for the inexperienced patron. It is not a good, initial secure base to build your investment business on.
Once you have done your research and determined that you want to invest in rental property you will need to decide where the property will be located whether it will be residential or close to home. After deciding this you will be able to ascertain which property has the greatest potential to give you the highest return.

That will depend upon what you are currently investing in, what you are making now, the way in which you seek to develop your realty portfolio, how old you are, the amount of spare time you can set aside, what your long-term intentions are, and how expensive your needs are. You must also decide whether you are looking to acquire cash flow income or prefer to earn cash quickly by risking a property flip.

One of the easiest and low risk way to make cash with in this business is by becoming a Real Estate Bird Dog. You simply find a property for an investor, put it under contract and sell it to the real estate investor without ever touching the property. This is easier said than done but you can potentially make 1k - 2k per deal.

Real Estate Investor Beware- Are You Still Buying Equity?

2008-06-12T12:20:00.000-07:00

Author: James Orr

In our current real estate market there are still real estate investors that purchase houses based on equity. While this strategy can still be profitable there are some things you need to consider.
First, you need to realize what the true value of the property is. In some markets, real estate values have declined. In some markets, real estate values have gone up. An appraisal completed one month ago, could be vastly different than an appraisal completed today.
If the seller tells you they purchased their house for $200,000 six months ago, you cannot assume that the house is still worth $200,000 today. This is one of the challenges of buying based on equity.

Another thing that you need to realize if you’re buying property based on equity is the amount of time it will take you to sell the property. If you think you’re going to be able to buy a property and quickly sell it you need to make sure that your expectations are realistic.
You can check with your local real estate professional to determine the average number of days on market. This, combined with your marketing expertise, will help you determine what you can realistically expect to sell the property in.

In our current market situation I would also had a backup plan in case the property does not sell quickly. One option would be to offer the property for sale to a tenant buyer. Or, you could consider renting the property to a renter.

Another option in our current market would be to take an option on the property. Although it is extremely difficult to do this with a property that is listed in the MLS, this can be accomplished when you’re dealing directly with a motivated seller.

Investing In A Down Market

2008-06-12T12:19:00.000-07:00

Author: Ki Gray and Dane Smith

All investments depend on making returns, which in turn are affected by macro cycles such as the Great Depression or the dot-com boom. When a market is receding, it makes more sense for long-term, stability-seeking investors to look elsewhere upon first glance. However, in the case of the housing market of many parts of the US, the likelihood of long-term housing depression are still relatively slim. Furthermore, other factors will continue to influence the stability of housing pricing in the short term.

Likely investors in most areas will be able to get great values for some time, but housing prices have statistically increased on a per-capita level for the vast majority of the past century. Even with the 30% decrease in home prices during the years of 1930-33, economic stimulus eventually prevailed. The Depression was also the primary topic of a young Ben Bernanke who, before his current position as head of the Federal Reserve, wrote a 350-page report on how the US’ largest recession was due to the blunders of the then newly-created institution. Bernanke has also taken more unprecedented steps to help preserve large investment banks than homeownership, citing a housing bubble which needs a necessary (though unfortunate) correction.

As foreclosure rates continue to increase, many properties are being revalued at less than the price they were purchased at. However, this is only half the story. America’s losses are oft distributed unequally. And while the Midwest generally experiencing the worst effects of past recessions, this time may be a little different. Across middle America, home prices have depressed for seven straight months, but several previously hot markets have deteriorated below pre-bubble prices. Southern California and Arizona are two examples that stand out, particularly in terms of how rapidly falling home values have affected previously booming areas.
Now consumers are hit with two difficulties which make housing slumps particularly viscous: rising mortgage payments and loss of home equity, which has restricted lines of credit for homeowners. Furthermore, the advantages of America’s size are diminished in a housing slump because homeowners are unable to migrate to other areas. Historically, there have been many such exoduses from economically depressed areas in search of higher wages, but homeowners are increasingly unable to do so unless they sell their homes at a loss.

This stagnation also means that markets with rising values will continue to attract investment, while government intervention may be necessary to lift more blighted areas. The Northwest continues to experience positive property values, despite the prospects oflooming layoffs from troubled financial firms. Texas continues to experience exceptional developmental growth, and relatively stable house prices in his area likely contributed to the Dallas Fed’s dissenting vote against the recent record Federal Funds Rate cut. In central Texas, development has continued relatively unabated, in contrast with other areas where property values have dropped more considerably. This reasoning indicates that these markets are likely to accelerate growth as the larger economy recovers from the sub-prime crisis, and will probably be more valuable in the mid-term by comparison to more depressed areas.

Either way, the US recession is not likely to remain too deep, thanks to the generous monetary policy of the Fed. Should current inflationary pressures continue their current trends, home prices will necessarily rebound, although not quickly enough to facilitate speculative short sells. Therefore, for those looking for the long haul, deals are out there.

How To Get Started In Real Estate Investing

2008-06-12T12:16:00.000-07:00

Author: Jamel Gibbs

In modern times, real estate investing is one of the leading sources of wealth building. The majority of the world’s millionaires made their money by investing in real estate. When investing in real estate you open up a whole new world of opportunities for yourself. But, as a newbie how do you get started in your own real estate business? This article will explain how to get started in the real estate investing business.

Pick a niche: First you have to decide on what you want to do as an investor. Do you want to be a landlord? What about a rehabber or wholesaler? The best thing to do is pick one field and get good at it, then move on to other fields. Ask yourself these questions. Do I need immediate cash? If so, then you may want to flip houses. Do I want to collect a monthly income? If that is the case, then rental properties is the way to go.

Education: The next thing you may want to do is get as much education as possible on the niche you picked. By getting educated on the niche, you can get a better understanding on how to get things done the right way. If you don’t educate yourself, real estate investing will be an expensive experience for you.

Build your team: After you have educated yourself you will need a team. A team can consist of realtors, title companies, mortgage brokers, private and hard money lenders, bird dogs, etc. Train your team to duplicate your business actions and you will have much success.
Farm your areas: Pick a couple of middle class areas to invest in. Drive around and get familiar with the properties. Get familiar with the property values and take note of the amount of properties on the market.

Networking: The best thing to do as a beginner is network with other investors. Get some business cards made up and go join your local real estate investment club. Start talking to the other investors and ask them if they would call you if they find any good deals. Let them know that you will call them as well. Make sure you get their name, phone number and email address so that you can keep in touch with them.

Remember that education and action is the key to your success as a newbie. Once you know what to do, then put that knowledge to work and don’t procrastinate.

Why Real Estate Investors Should Consider Owner Financing

2008-06-12T12:11:00.000-07:00

Author: James Orr

Owner financing has always been something that savvy investors look for in a deal. Amidst current market conditions, these creatively financed deals have become more essential to investors than ever. In the wake of the subprime loan crisis, Freddie Mac has announced that beginning in August of 2008, it will reduce the number of loans that an investor can hold from ten to four. With such strictures, investors must have as many tools available to them as possible to creatively structure deals.
The current market conditions have left many houses languishing on the market unsold with diminishing possibilities for a full price sale. But owner financed deals can help both the investor and the seller to get what they need.
In many instances, investors can offer homeowners full price if they are willing to give them good terms. For example, a house that would have had negative cash flow with a traditionally financed 100% loan (which are nearly impossible to obtain now), can cash flow if the owner carries back. Instead of asking for a particular interest rate, the investor would offer to make the monthly payment that would make the property profitable. The seller would receive the full purchase price, a set payback period of 15, 20 or 30 years would be agreed upon, and the number and amount of the payments would determine the interest rate.
Or, the investor can also offer the seller full price, but ask for a specific interest rate which is lower than the banks are offering, in exchange for getting the house sold right away. Additionally, the investor can also negotiate a period of lower or even no payments while he is fixing up the property. All of these things are negotiable, but investors need to tap into their creativity when structuring these deals to continue building their portfolio in the current market.
To sum up, with both the number of loans available to each investor drastically reduced and the near impossibility of obtaining 100% financing, investors with little extra capital can continue investing by asking sellers to carry back. Don’t stop investing just because fewer loans are available!

Real Estate Investing- The First Timer's Guide to its Drawbacks and Risks

2008-06-12T12:07:00.000-07:00

Author: Hunter Craig

Real estate investing is about more than picking up a property cheaply and reselling it at a profit. While how-to books and real estate guru seminars may make it seem easy and risk-free, there is a reality to real estate investment. To learn more about the potential downsides of real estate investing, keep reading.
It Takes Capital
Typically, real estate isn’t considered a quickie investment, and your capital can be tied up for a long time. A down payment on a home can’t always be taken out and withdrawn in the case of a financial emergency or the need for quick cash.
That capital could also be used for other investments. For example, let’s say you invest $20,000 into a home that winds up not appreciating at the 8 percent annual rate you hoped it would. Instead, it depreciates and then eventually appreciates at a low 4 percent rate. That $20,000 could have made more by investing it wisely in a diversified investment portfolio.
Returns Will Vary
Like any investment, other than GICs (Guaranteed Investment Certificate) or guaranteed savings programs, your returns are going to vary. While real estate is more stable than, say, the stock market, that doesn’t mean you can bank on a 10 percent annual return.
You Will Pay Capital Gains Taxes
Taxes can slash your profits on your real estate investments if you’re unprepared. While there are deductions and capital deferral programs available to real estate investors, you need to understand the law and be prepared to apply it to your own circumstances.
Closing Fees and Transaction Costs can Reduce Profits
Unless you’re savvy enough to handle your own sales, you’ll have to hire a real estate agent, meaning you’ll have to pay commission. In addition, most investors will need to pay closing costs, title insurance, inspection rates, legal fees and more.
Typically, the costs associated with any real estate transaction usually hover around 15 percent of the transaction, whether you’re buying or selling.
There is Work Involved
While a real estate investment normally does reward sweat equity, that also means you have to put it in. Unlike stock market investments where it takes little more than cash and a telephone or a computer to make an investment and see a possible return, real estate investment involves getting out of your chair and a lot of leg work.
Whether it’s driving out to sale sites, attending home viewings, cleaning properties, maintaining rental units, upgrading or renovating houses or preparing a house for sale, it’s all hard work that you’ll have to put in. So, before you jump into real estate investing, make sure you have the time and energy to invest alongside your money.

Getting the Right Information from the Seller

2008-06-12T12:06:00.000-07:00

Author: Jamel Gibbs

So you have the ads running, you have the post cards delivered, you have the bandits signs up, and now your phone is starting to ring. What do you do when the sellers call? What questions do you need to know in order to evaluate the deal and make sure you present the right offer? This article will give you the top five things you need from the seller in order to evaluate a potential real estate deal.
It’s quite obvious that you will need the name and phone number of the seller who is calling you. Therefore, we will not get into that. This article is about important questions. Not, common sense questions.
One: The first important thing that you need from the seller is the property address, square footage, and bedroom and bathroom information. Find out where the property is located. Ask the seller what is in the surrounding area. How far away is the nearest shopping center, etc.? Try to get as much detail about the property as you can.
Two: Next you will want to know about the repairs needed on the property. Tell the seller to be specific so you can get an idea of the amount of repairs the house needs. Ask questions about the boiler and the roof. Find out what was upgraded already. Ask about the electric and plumbing in the house. What about the windows, kitchen and bathrooms? Get the seller to tell you as much as possible.
Three: After discussing the property now you want to know why they are selling the property. Make them go into detail. This is very important. This question will help you determine if you’re going to take a look at the property or not. If they say that they are selling because they need the money. That is not a good enough reason. If they are selling because they need cash to pay off an expensive medical bill that was for a life threatening illness…. now you’re talking. Obviously, you want to target motivated sellers, so try to find out the seller’s why (in detail).
Four: Now it’s time to ask about the financing on the house. What is the loan balance on the house? Are they current on their loan and taxes? Will they take what they owe? How much is the 1st mortgage amount? What about the second? Is there a 3rd mortgage? How much are they asking for the house? Try to find out as much about the financing on the house as you can. If they are serious motivated sellers they will tell you. If not, they are probably not your cup of tea.
Five: The last important thing you need to know from the sellers is if they are willing to take less money if you pay cash. Ask the seller this question… if I were to pay cash and close quick, what is the least amount of money you are willing to take? This is a very important question because this will tell you how motivated (desperate) the seller really is.
Remember to ask your questions with confidence, be polite, and keep in mind that you are there to help the seller get out of their situation. Ask these questions and you will eliminate the unmotivated sellers off of your list.

Be The Next Oscar Wilde

2008-06-12T12:01:00.000-07:00

Anybody can write but not everybody can be a writer. The mark of a true writer is the ability to express him or herself with eloquence and grace. Writing, however, is more than just stringing words together in a dramatic fashion.
What Makes A True Writer?
A true writer has something to say. It could be a message or an opinion of great importance that could stir even the most passive of audiences. It doesn?t matter how trivial or how crucial a subject is. A real writer can write about a home mortgage refinancing lender or a lengthy dissertation on an Oscar Wilde novel and will still have his or her readers gripped. A writer who can make a home mortgage refinancing lender look good or a well-loved monarch look bad is indeed a very talented one.
Oh, Fearless One
A real writer is not afraid of criticism, disapproval, or persecution. The best and the greatest of all writers have been censured and even scorned in the worst possible ways. Indeed, there will always be detractors. You can write about a controversial subject like politics or a benign one such as home mortgage refinancing lender and still be criticized. A true writer who believes in the truth and the integrity of his prose should have nothing to fear and should always be prepared for the consequences.
Pride and Prejudice
Ego is a writer?s curse. Many a writer have made the mistake of basking too much in fame and glory to have forgotten the integrity of his or her words. To be a truly good writer, it is important not to let praise go over your head. Accept criticism and learn from it. When commended, remain humble but grateful. Remember that no matter how well you wrote that piece on home mortgage refinancing lender, you can still do better. Be your best and worst critic.
There are no subjects insignificant enough to be done halfheartedly. Write about home mortgage refinancing lender with as much care and as much dedication as you would an essay about life and love. No essays should be neglected because you feel it?s inconsequential. You?ll be surprised to know how even the most benign topic such as home mortgage refinancing lender can touch lives. Keep an open mind and don?t subject yourself to petty prejudices. There are always two sides of a story and a truly good writer does not choose sides.
The Power of the Pen
Writing is more than a profession. It is a craft and a gift that should be used wisely in pursuit of truth, justice, and honor and not for petty and mundane victories over the weak. The freedom of expression is indeed a beautiful thing, its power heady. It can build just as well as it can destroy. There is truth in the adage: the pen is mightier than the sword. And if you are lucky enough to wield such a weapon, you must know how to use it right and use it well.

The Sopranos Introduction

2007-07-11T16:41:00.001-07:00

Kim Kardashian wears shoes she bought on eBay

2007-04-08T12:09:00.000-07:00

Kim Kardashian wears shoes she bought on eBay

This is not news, but it does confirm that Kim Kardashian's eBay ID is *styleworld* (with asterisks around it) as we reported yesterday. She was seen out in the Christian Louboutin platform espadrilles, size 9, that she bought on eBay on April 24th for $445.00 plus $16.95 shipping.
Kim, 25, attended the "Entourage" LA premiere on 6/1 wearing the overpriced but discounted shoes. She was hanging out with Paris Hilton at the event. She is dating Nick Lachey and is the daughter of O.J. Simpson lawyer, Robert Kardashian.

Occidental CEO got more than $400 million in 2006

2007-04-08T11:47:00.000-07:00

Occidental Petroleum Corp.'s chairman and chief executive took in more than $400 million in compensation last year
The company said in a filing, one of the biggest single-year payouts in U.S. corporate history.The largest part of Ray Irani's 2006 payout was $270.2 million from the exercise of options awarded from 1997 to 2006, representing more than 7.1 million shares, according to the company's annual proxy statement, which was filed with the Securities and Exchange Commission in March.
Irani also received $93.3 million in stock and dividends from a deferred stock program when the company closed the plan in October due to increases in liability and expenses for the program, the company said.
Irani's salary in 2006 was $1.3 million and his cash bonus was $1.4 million, according to the filing. But stock and option awards and other benefits lifted his 2006 compensation to $55.6 million, the proxy said.
In the proxy, the company said that from December 1990 -- when Irani succeeded Armand Hammer as chief executive -- through 2005, the company's stock rose to about $40 a share from $9 and its total shareholder return was 699 percent.
"When you look at this, this is solid pay for performance," said Richard Kline, an Occidental spokesman. "It serves the best interest of the corporation and the best interest of the shareholder."
Occidental shares closed on Thursday at $49.95 on the New York Stock Exchange.
According to the Wall Street Journal, only a few CEOs have ever made more money in one year. In 2001, Oracle Corp. CEO Larry Ellison received $706 million from exercising stock options and in 1998, former Walt Disney Co. CEO Michael Eisner received $570 million, according to the newspaper.

Become The Go-To Person At Work

2007-04-06T11:25:00.000-07:00

After a 2-month lull, home prices take off
After stalling for two months, home prices in King and Snohomish counties perked up last month, disappointing potential buyers who thought slowing price appreciation had presented an opportunity.
Brian and Jennifer Rutherford are experiencing King County's strengthening real-estate market firsthand as they shop for a Bellevue home in the $500,000 range.
They initially planned to take their time to find the right house, said Brian, who does business development for a software company. Brian and Jennifer, a nurse, own a condominium in West Seattle.
"We were just hoping things would cool off. It might have cooled off from its highest point, but not too far," he said. "Now we're making more of an effort to step up our looking."
Home-sales data released Thursday by the Northwest Multiple List Service for March prove his point.
King County's median single-family home price rose 6 percent to a record $454,950 last month. Snohomish County's single-family home price, which also hesitated, moved up 7.4 percent, reaching a median $382,500 in March.
In Kitsap County, the median single-family house price was up 2.2 percent to $291,250.
Only Pierce County bucked the trend, with the median single-family house price declining 2.4 percent to $280,000 last month.
Median means half the properties sell for more, half for less.
Thursday's news that Microsoft is leasing 1.3 million square feet of Bellevue office space, enough to house 4,000 employees, is a near guarantee that Brian Rutherford is correct about home-buying prospects.
More workers in Bellevue may create more competition from other buyers in the Rutherfords' target neighborhoods.
Mortgage rates also have remained near historic lows, making it possible for more people to buy a home.
Still, Rutherford remains philosophic.
"It is what it is. That's the region we live in," he said.
If the Rutherfords decide to sell their West Seattle condo, they will enjoy the upside of a healthy market.
"I've been here for 41 years, so I've seen slow markets, and this is not a slow market," said Rich Bianchi, owner/broker of the Keller Williams Realty office in West Seattle.
Rather, he senses "the market is active, but not quite as active as last year," and that has confused buyers who thought prices would fall. They haven't.
"I think some people thought they'd wait until after the first of the year to get a bargain," Bianchi said.
"That didn't happen."
Indeed, West Seattle homes priced at less than $500,000 are drawing multiple offers — the same dynamic the Rutherfords have found in Bellevue.
They already have lost a bidding war on a $480,000 Bellevue house. Seven offers pushed the price to $535,000.
Builders are adding to the mix.
Windermere agent Daniel Toth's West Seattle listing for a 1928 brick Tudor — original period detailing plus a new kitchen for $499,950 — recently was snapped up by a builder. He plans to construct two additional homes in its back yard.
Lennox Scott, chairman of John L. Scott Real Estate, said a shortage of affordably priced homes will keep the local market strong.
He defines affordable as a house priced below the median for its area.
In Auburn, for example, that means less than $325,000. In Seattle's Queen Anne and Magnolia neighborhoods, it's less than $682,000.
"We still have job growth, population growth and low interest rates," Scott said, mentioning three factors that propel housing demand.
"People want to live closer to job centers because of traffic," he said. "That's dictating where inventories are lower."
Seattle-area interest rates stand at 6.22 percent for a 30-year, fixed-rate mortgage, according to HSH, a mortgage-information provider.
While agents and brokers talk about the lack of lower-priced homes, MLS statistics show that the total number of properties for sale has increased significantly over a year ago.
For example, King County buyers had 5,100 homes to choose from in March 2006. They had 6,762 last month, a 32.6 percent increase.
Year-over-year inventory increased 44 percent to 49 percent in Snohomish, Pierce and Kitsap counties.
At the same time, the number of house and condominium sales transacted last month was down 8 percent in King County and almost 18 percent in Snohomish County, compared with a year earlier, the MLS reported.
King County's detached houses have appreciated 12.3 percent in the past year, on a par with the county's condominium appreciation. King County's median condo price was $281,000 last month.
Snohomish County's house prices in the past year were up 16 percent.
But the county's condo appreciation was even stronger: 25.7 percent; and the median is now $238,796.
House prices were up 7.6 percent in Pierce County and 8.7 percent in Kitsap County for the past year. Those two counties have relatively few condominiums.

Become The Go-To Person At Work
Walk around for 15 minutes a dayOffices are like small families. You spend up to 10 hours a day in close proximity with your coworkers, sharing the same office space, facilities, break rooms, refrigerators, and coffee pots. Everyone shares the responsibility of making the company run smoothly and helping it stay profitable.Put aside about 15 minutes a day to walk around, greet your coworkers and exchange pleasantries. A smile and a warm handshake can help relieve their stress and add to your desirability factor at work. However, make sure that you don't become the office nuisance by interrupting people when they’re busy. If one of your coworkers is rushing to meet a deadline, save the pleasantries for someone else.
Compliment your colleaguesEvery so often, tell a senior management executive how much you appreciate a certain colleague or subordinate. Be as specific as you can, such as: "Ross, I want you to know what a great job Victor did at the presentation yesterday. We are all lucky to have him on the team."If a veteran employee is retiring, organize a goodbye party; if someone is being promoted, set up happy hour with your coworkers to celebrate. Take initiative and others will take an instant liking to you. A word of warning, however: Make sure that your compliments are sincere and don’t overdo it -- unless you want to be labeled the office brownnoser.Joining a committee and being aware of market trends can also increase your workplace exposure
Contribute to a publicationHave you thought of contributing to your organization’s internal newsletter, website or journal? Since company publications are frequently read by top executives, you’ll increase your visibility and establish yourself as an expert in your area. This is a great way to toot your own horn in a discreet fashion.
Join a committeeWhile interacting with the same group of colleagues every day won’t increase your exposure, working on a company committee will allow you to make new contacts and show off your skills to people who matter within the organization. If you behave like a leader, you could find yourself moving into a leadership position sooner than you imagined.
Offer a helping handIf you've used the last piece of paper in the copier or printer, fill it up. Take on extra tasks like mentoring a new recruit or training a colleague in your area of expertise. Share a trade secret that will help a coworker impress the boss. These small gestures help you build relationships and spread a good word about you in the workplace. Remember that what goes around comes around, and the people you help will likely remember it when it matters the most.
Stay informedRead industry publications, reports and magazines, and be aware of market trends. Your knowledge will be obvious to your colleagues, and they‘ll look up to you for advice and information. They might also talk positively about you with other members of the team and higher-ups; there is nothing better than third-party publicity.

"SCREW THE BUBBLE!"

2005-10-25T10:48:00.000-07:00

"SCREW THE BUBBLE!"

I don't know about you, but every time I recently hear the wordbubble, I want to scream! Especially when I hear 'bubble' together with'real estate', as in the often referred to "REAL ESTATE BUBBLE". Youknow what I'm talking about...quotes like 'the REAL ESTATE BUBBLE isabout to burst!', 'How big can the BUBBLE GET?' etc..WHAT THE FUCK IS A REAL ESTATE BUBBLE??!!!I'll tell you what it is.... It is a media devise of fearsome word-play designed to strike at people's hearts and cause them doubt the veryexistence of real estate equity. It conjurs up images of atransparently thin 'bubble' we are riding inside of that will take ushigh above our home, and then "POP!" to send you crashing down to smashyou to bits on the roof. The talk of the 'REAL ESTATE BUBBLE' makes mesick. It is manipulitive and unneccessary and is typical of themainstream media to parlay the phrase into everyday syntax as a way toincrease circulation while playing upon people's fears.You know what the 'bubble' really is? It is a reward of equity-wealthand assets to people who have worked hard to earn it. People whostruggled hard to build and maintain their credit so they couldpurchase a home. People who worked hard at careers so they could bringhome the bacon and pay the mortgage and bills. People who struggled torepaint, remodel and renovate their properties so it would be worthmore money. It is the justafiable reason why we want to purchase realestate in the first place. So, to the people who hear the 'bubble' spin and give in to thenegative images it conjurs up, I feel sorry for you. You are the samepeople who said ten years ago, "Houses are too expensive! I can'tafford a house!" and then stayed in your one bedroom apartment payingrent. You may still be in that same apartment paying rent, complainingthe same old crap, "Houses are too expensive! I can't afford a house!"On second thought, I don't feel sorry for you, because you are the samepeople who wasted my time when I tried to show you the benefits of homeownership and you did not believe.So, believe this... There is a reward for building and maitaining yourcredit so you can buy and refinance your home. It is called EQUITY.Please don't give into the fear mongers who try to grab attention withscary spin phrases and headlines. The reason that home prices go up isbecause of the simple market principles of supply and demand. Someyears homeowners get lucky and experience more gains in house valuesbecause demand for homes is higher and interest rates are lower. Someyears the homes may not increase in value as drastically because ofmarket conditions or interest rates increases making homes lessaffordable, thereby decreasing demand. Don't worry, there isn't a'bubble' that will burst covering you with goo sending you to hurtlingto slam head first into the earth. There is just a time of lesserincrease in the value of homes. Worst case, maybe your home mightincrease only 0%-5% instead of 15%-20%.This does not mean to throw all caution to the wind and pay whateverthey say. It means, get a good deal with affordable payments and takecare of your budget planning. The same thing our Parents andGrandparents and all wise Forefathers advise. How come I don't ever hear about the "SUV BUBBLE"? All we have to do is ride out the tougher times to get to to goodtimes. "SCREW THE BUBBLE!"

Buying property with family or friends

2005-10-24T07:39:00.000-07:00

Angelina Jolie attends the Worldwide Orphans Foundation Gala to Honor Christine Ebersole at Capitale.

Buying property with family or friends
Is it a blessing or a curse? The right due diligence makes all the difference.

John D. Rockefeller once said that "a friendship founded on business...is a good deal better than a business founded on friendship."
He might have added: "Except in real estate." That's because some of the most successful real estate companies have started as alliances of friends and family. Orange County, Calif. megadeveloper the Irvine Company was created in the 19th century by James Irvine and his son. Donald Trump's dad Fred taught his Apprentice plenty about the family biz.
Chicago real estate guru Sam Zell credits much of his success to his longtime partnership with his college pal, the late Robert Lurie. (Old John D.'s spawn didn't fare too badly either with a family venture in the 1930s called Rockefeller Center.)
To be sure, if you're just starting a real estate project, you'll find it difficult to resist the temptation to bring in friends and family as partners and investors. After all, those are the people you know and probably trust the most. But how do you avoid the seemingly inevitable "Dallas"-style dramas?
1. Trust but verify
Even if she's your sister or cousin, you should investigate a would-be partner's finances before doing business with her. Handy Web sites like Intelius.com and Public-records-now.com can help you unearth basic background info like tax liens or bankruptcy filings.
Ask her to share a copy of her latest credit report. Talk to her former business associates. To avoid ill will, tell her from the get-go that you'll be prying -- and invite her to do the same with your background.
If she balks, calmly explain that such precautions will only make for a stronger team, suggests Nicole McAllister of the University of Southern California's Lusk Center for Real Estate. "Remember, this is business."
2. Share a vision
It's critical that you and your partners agree to common goals before you buy. Will you renovate that apartment house to a level that would make a Hyatt Regency manager blush? Or do you want to rent the property "as is"? Is the goal long-term cash flow or cashing out quickly? Many partnerships founder on these simple points.
3. Get it in writing
Lawyers and their contracts can't prevent every calamity, but a written agreement -- think of it as a prenup before your partnership marriage -- can prevent headaches (and heartaches) for you and the family or friends who invest with you.
At the very least, an operating agreement will force you to plan for the unexpected, including death, divorce or a change of mind. You must also spell out exactly what happens if one of your partners wants to sell.
Establishing a contingency plan "gets everything on the table," says Philip Davis, a C.P.A. and principal at accounting firm Kauffman & Davis in Boston. "It's like going to a therapist."
4. Hire strangers
Unbiased advice is essential for all involved. Brooklyn real estate broker Tammy Shaw knows plenty about the business, but she says she'd never have bought her brownstone with family without professionals at her side.
"Build a team ahead of time -- an attorney, mortgage broker or banker, and contractor," she suggests. "They have to be people all of you feel comfortable with."
5. Be an open book
Garry Klein, co-founder of real estate fund Highpoint Equities in Scarsdale, N.Y., knows both the hazards and huzzahs of working with friends and family. He started buying real estate nearly a decade ago with his buddy Jeff Gault; family members have been a big source of capital ever since.
"The upside is that these people know you and know what you're about; they cut you more slack," he says. "The downside is these are people you're going to see at Thanksgiving dinner." Klein shares thorough, detailed investment results every six months.
Ultimately, success depends on your own ability to find good deals and execute. Friends and family can make a newcomer feel more comfortable, but you'll need to adopt professional practices for your effort to really pay off.

The Daughter of an Oscar-Winning Dad Finds Success on Her Own Terms

2005-10-23T13:42:00.000-07:00

The Daughter of an Oscar-Winning Dad Finds Success on Her Own Terms

The world would be a very different place if a young goth teen from Southern California with a penchant for knives and Renaissance Faires followed her dream to become a funeral director. Lucky for us--and orphaned children across the globe--Angelina Jolie went on to became an actress instead, landing famous movie deals, countless awards, a United Nations ambassadorship and even Brad Pitt along the way.
In Angelina Jolie: E! True Hollywood Story, premiering Oct. 23, at 8 p.m., we follow the glamorous and sometimes strange life of Tinseltown's beloved rebel with a cause.
From her tumultuous relationship with father Jon Voight to those weird tattoos and vials of blood she shared with Billy Bob Thornton to finding happiness as a mommy and philanthropist, Ms. Jolie's life has been one wild ride.
Angelina grew up in the shadow of her dad, but without the fancy cars and mansion everyone thinks she had. So, she was determined to make it on her own, taking roles in such classics as Cyborg 2.

Before long, she was winning Golden Globes left and right for her work on TV and stirring up controversy when she smooched her brother on Oscar night. And taking home the Academy Award was just the beginning.
Angelina would go on to become Hollywood's go-to action girl and garner huge props in the international community for her boundless charitable work with refugees.

The Tax Implications of Buying Your Home

2005-10-22T13:11:00.000-07:00

Top 10: Ways To Tease A Woman

Number 10
Perfect your deliveryIn order to become the kind of guy who can crack women up with your teasing and sarcastic remarks, you have to perfect your delivery. I'm talking about honing elements like eye contact, tone of voice and timing. They're all important.
Go get some classic comedies on DVD and pay attention to how the actors deliver the lines that make you laugh. Watch them over and over again, and then practice your delivery skills with the women in your life. If women are cracking up and playfully punching you, you're doing it right. If they're not laughing at all, you have some improvements to make, or you need to choose women who are more fun and more secure in themselves to spend your time with.

Number 9
Joke about a point systemWhenever a woman does something you can bust her on, tell her, "You just lost a point," as if you're keeping track of the points she's making or losing with you. The idea here is to suggest that if she loses enough points, you may not want to see her again. So if she's a bit late for a date, tell her she just lost a point. If she likes country and you like classic rock, she just lost a point. If she likes broccoli and you hate it, she just lost a point. Get it?

Number 8
Jokingly express your doubts This is a variation on the "you just lost a point" theme. Whenever she does something that suggests she could be a loser, a nerd or otherwise unworthy of your attention, tell her, "I don't think this is going to work out." Let's say you're about to meet up with a woman you originally encountered online. You two have never met in person before. You call her on her cell, asking where she is. While you're on the phone with her you see her walking up, but she doesn't see you yet. You can tease her with "Oh, are you the one walking by the Ferris wheel with the black jacket? Yeah... uh... I don't think this is going to work out. I think I left the oven on back at home or something." Of course this works best with really attractive women, as they are sure to get the joke.

Number 7
Use sarcasmWhen a woman says something totally obvious, you can reply with "Really? Wow. That must be the most fascinating thing I've heard all week." Say this with a sly smile, eye contact and a sarcastic tone of voice, and she'll get the fact that you're saying it "tongue in cheek."

Number 6
Disqualify her by ageLet's say you ask a woman how old she is, and she says she's 23. Act disappointed. When she asks you what's wrong, tell her you don't date anyone over 17. Or if she's 35, tell her you don't date anyone under 47. The idea here is to convey the notion that if she's young, she's not young enough, and if she's older, she's not old enough. What makes this interesting and different is that it's the opposite of what most women would expect you to say.

Number 5
Guess her weight Tell her you can guess her weight. Then do something silly that's completely not related to her weight, like take one of her fingers and examine it really closely. Then get an overly serious look on your face and say, "You must weigh about... (pause for dramatic effect)... 345." Caution: Use this only with women who are very fit. You don't want to hurt any feelings.

Number 4
Be playfully meanSay something that could be mean, but in a playful way. For example, if she says she doesn't like Tic Tacs because they don't work, you tell her, "Of course they don't work for you. I mean, I don't know exactly how to say this, but, you know you have a big, huge problem with bad breath, right? I mean, you know that, right?". Deliver with just a hint of a smile, and she'll get the joke.

Number 3
Slap her handNext time she says anything that could be interpreted as "bad" or even "naughty," ask her to give you her hand, take it, slowly turn it upside down, and gently slap the back of it. If you haven't made physical contact already, this is a playful and easy way to start.

Number 2
Give stupid answers to stupid questionsIf a woman asks you a lame question such as, "Do you date a lot?", reply with something cocky like, "Who me? No, never. I usually stay at home, locked in my room playing Nintendo, can't you tell?".

Number 1
Bust her on her jokesIf she tries to be funny in any way (by telling a joke, for example), let her finish, then just stare at her blankly and ask, "I'm sorry, was that supposed to be funny?" The longer you keep a straight face on this one, the more you'll hit her funny bone.

The Tax Implications of Buying Your Home
As you've figured out, owning a home is an expensive proposition. Lucky for us, though, there's a silver lining to our little black cloud. What is it? Elementary, my dear Watson! (Or, as John Lennon once said, "Ellafitzgerald, my deaf whopper!") It isn't a Sherlock Holmesian deduction. It's a tax deduction. And it's major.
When you file your federal and state income tax forms, you'll be able to deduct mortgage interest and property taxes (assuming that your loan is for $1 million or less). And there's even a deduction for up to $100,000 for a home equity loan.
So how much is this really going to save you? Well, let's hop on over to our Foolish calculator to find out. It works like this: Let's say that you're in the 28% tax bracket. Let's also say that, once you get your loan, you end up paying $1,000 a month. The interest portion of that $1,000 is tax-deductible -- and, in the early years of repaying the loan, almost all of it is interest. This means (assuming that you have other deductions at least equal to the standard deduction) that it will lower the amount of money on which you pay taxes. And this, of course, means that your tax bill will be significantly lower -- so you'll effectively end up having paid something like $720 a month for that loan. ($1,000 minus 28%, or $280.)
This is not to say that the reason to buy a house is to save taxes, but it sure is a nice perk. And the place you live will belong to you, not some landlord who doesn't know your name, won't fix plumbing problems, doesn't like you knocking holes in the wa ll to hang paintings, and threatens to call the police when you try to sneak a waterbed up the back stairway.
One caveat -- be sure to check with your accountant to make sure that you're going to be able to get the tax savings you expect. The likelihood is that you will, but you don't want to count on this kind of savings and then discover that for some reason you've miscalculated.
So go ahead, slosh away. If the waterbed springs a leak, it's your problem. Welcome to the joys of home ownership!
But wait. You haven't actually bought the place yet. You've just investigated the ins and outs of loans. (You're well ahead of many home shoppers, who hop in the car one day and begin to look, without investigating how they're going to pay for this humong ous asset.) Now you need to think about the house itself, and the neighborhood.

Housing bubble may lose some wind

2005-10-21T00:24:00.000-07:00

Britney Spears says posted baby photos were stolen
Pictures of Britney Spears and her infant son surfaced on the Internet Friday, but the singer said they were stolen and threatened legal action against anyone who showed the eagerly awaited images.
Photos of Spears holding a dark-haired child and another of the singer lying cheek to cheek with the baby had been removed from a number of Web sites by late Friday.
"Anyone who publishes, sells or otherwise exploits any of these images in any way will be subject to liability and damages for willful infringement of copyright," invasion of privacy and other legal claims, publicist Leslie Sloan said in a written release.
Spears gave birth to son Sean Preston in September, but the 23-year-old singer and her husband Kevin Federline have kept a low profile since then.

Housing bubble may lose some wind
Stricter OCC rules on exotic mortgages may help stabilize housing prices as fewer buyers qualify.
With the popularity of exotic mortgages, it's never been easier for homebuyers to afford their dream house even if it's out of their preferred price range.But the increasing use of interest-only and option adjustable rate mortgages has put federal regulators on high alert. This fall, the Office of the Comptroller of the Currency, along with other financial regulators, will issue guidelines for mortgage lenders that could make lenders think twice before readily offering exotic mortgages to potential buyers.Will the inability to gain easy access to these creative mortgage products finally help let some of the air out of the inflated housing bubble?It's certainly a distinct possibility, said Andy Laperriere, managing director at ISI Group, a research firm."I think it will affect a meaningful amount of loans," he said. "It'll be enough to take the marginal buyer out of the hottest markets and therefore slowdown or even stop some price appreciation."Experts certainly see some correlation between the availability of these products and the surge in housing prices. Laperriere added that in high-priced markets such as California and Washington, interest-only and option ARMs make up about 50 percent of the mortgages used to finance homes.In a recent statement, Federal Reserve Chairman Alan Greenspan warned that the use of exotic mortgages could be pushing prices higher and may induce some home buyers to take on more risk than they can handle.Greg McBride, senior financial analyst at personal finance site Bankrate.com said "mortgage products with lower initial payments give you additional buying power at the front end of the loan and its one of the contributing factors" to the spike in housing prices.Exotic mortgages only one factor in housing pricesBut it's hardly the only factor. According to the National Association of Realtors (NAR), prices for existing homes nationally have climbed 13.6 percent in the second quarter from a year ago. Growth in the West outpaced the rest of the country with prices 19.5 percent higher. And some metropolitan areas such as Fort Myers, Florida and Phoenix, Arizona have seen a surge of over 45 percent and 47 percent respectively.Walter Molony, spokesman for NAR, said the housing market's strength in the last few years has been the result of a simple supply and demand equation: with an improving job market and low interest rates, there were simply more buyers in the market and sellers could demand higher prices.He added while there has been "an explosion in first time homebuyers using no-down payment loans" or other exotic mortgage products, he didn't think there was necessarily a direct correlation between the availability of flexible home financing products and the housing spike.But there's no denying that exotic mortgages have climbed in popularity in tandem with the rise in housing prices. According to the Federal Reserve Board's latest quarterly survey of senior loan officers from July, nearly a third of respondents said that non-traditional mortgage products make up 5 to 16 percent of their dollar volume of residential mortgages while one bank said these products make up 50 percent of its dollar volume.And more than half of respondents noted that the share of mortgage originations accounted for by non-traditional mortgage products had been higher over the past 12 months than over the previous 12 month period.Dean Debuck, a spokesman for the OCC, which regulates financial institutions, said the organization will issue guidance for mortgage products, adding that growth in the industry has uncovered "some things that need to be fixed." While he declined to comment on the specific guidelines, he said the OCC is focused on "safety, soundness and good risk management."Financial analysts expect the OCC to set specific credit-worthiness standards to prevent people from over-stretching themselves into debt and make sure that these products are aimed at individuals that are capable of repaying their interest only and option ARM mortgages when interest rates climb and their monthly payments increase significantly.Prices may stabilizeThe new standards are likely to take some marginal players out of the market and may make sellers reconsider their exorbitant asking price as interest rates rise."You're going to see a pullback in prices as inventories grow," said Neil Garfinkel, a real estate attorney at Abrams Garfinkel Margolis Bergen LLP. "It won't be a quick turnover, but with fewer willing buyers, houses will be on the market longer and sellers' expectations will have to change."But don't expect a free-fall in housing prices, experts said.Ellen Bitton, president and chief executive of Park Avenue Mortgage Group, said the market is more likely to undergo stabilization rather than any major decrease in valuation."People who have only been looking at the real estate market in the last few years think prices have to increase by 10 to 20 percent a year," she said. "But that's a frenetic market, not a normal market."She estimated that housing prices would return to a more stable 3 to 5 percent growth rate once it returns to a buyers market."But we have a way to go before we see that," she added.

30-year rates hit 15-month high at 6.1%

2005-10-20T16:20:00.000-07:00

This is my new Toy, It's a wonderful SUV.

In champions league Chelsea and Real Madrid Hammered their opponents by 4 goals Alex Ferguson side tied in Oldtralford ....I think this year Chelsea is going to win.

All signals go for Google
Online search leader reports spectacular 3Q numbers; stock surges after-hours

30-year rates hit 15-month high at 6.1%
Long-term rates continue steady rise, Freddie Mac affirms strength of housing sales.
The average rate on 30-year fixed-rate mortgages rose to 6.10 percent this week -- a 15-month high -- from last week's 6.03 percent, a Freddie Mac survey said Thursday.
In the year-ago period, the 30-year mortgage averaged 5.69 percent.
The average rate on 15-year fixed-rate mortgages rose to 5.65 percent, up from 5.62 percent the previous week. A year ago, the loan averaged 5.07 percent.
"Despite the gradual rise in mortgage rates over the last two months, housing starts were actually up in September highlighting the resiliency of the housing market," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a matter of fact, housing directly contributed to real GDP growth of 19 percent in the first quarter of the year and 23 percent in the second quarter."
Five-year adjustable-rate mortgages averaged 5.59 percent, compared to 5.57 percent the previous week. There is no data available for a year-to-year comparison because Freddie Mac only began tracking the 5-year loans this year.
One-year adjustable-rate mortgages averaged 4.89 percent, up slightly from 4.85 percent the week before. At this time last year, the one-year loan averaged 4.02 percent.

I am about to shop the mortgage market. Can you give me a handy list of the mistakes I need to avoid?

2005-10-19T13:55:00.000-07:00

Angelina Jolie and brad pitt are engaged says co-star
Ray Winstone, the co-star of Angelina Jolie in the movie Beowulf, says the actress and Brad Pitt are engaged. According to hollywood.com, this revelation adds to swirling rumours that the couple are to be married. Pitt and Jolie had met during the filming of Mr. and Mrs. Smith. Winstone is working with Jolie on the movie adaptation of the epic poems Beowulf. He says, 'She's getting married isn't she? Yes, she is'.
I am about to shop the mortgage market. Can you give me a handy list of the mistakes I need to avoid?
Select The Loan Provider Offering The Best Price Over The Telephone Or In The Newspaper
If you cast a wide net, you are bound to find a rogue who will beat all the other prices, but has neither the capacity nor the intention of delivering such prices. His objective is to rope you in and move the process along until it is too late for you to back out. At that point, he raises the price using any of a dozen tricks available for that purpose.
Remember: Because the market is constantly changing, you can't hold a broker or lender to a price quote until you lock the prices. A lock is the lender's agreement guaranteeing the prices.
Assume That You Can Shop Lender A Today And Lender B Tomorrow
Because of market volatility, prices obtained on different days are not comparable. Unless you shop all sources on the same day, you are wasting your time.
Solicit Price Information Without Providing All The Information About Your Loan That May Affect The Price
Prices vary with numerous borrower, property and transaction characteristics that lenders believe affect their risk and cost. These include loan size, credit rating, type of house, your ability to document income and assets, etc.
Unless informed to the contrary, lenders quoting prices assume a set of standard specifications that generates the lowest price. If the specs on your loan differ at all, the price will be higher.
For example, lenders assume you are purchasing a single-family house as your permanent residence. If in fact you are buying a condo, or the house is intended as a second home, expect to pay more.
Accept a Mortgage Broker's Verbal Assurance That You Have Been Locked With The Lender
Some brokers tell the borrower the price has been locked, but don't lock with the lender. If interests rates don't rise between the supposed lock date and the closing date, the broker makes an extra profit. If interest rates spike during that period, which is unlikely but always possible, you're left holding the bag.
Don't be afraid to ask for written confirmation of the rate lock.
Allow The Price To Float Without An Agreement With The Loan Provider Regarding How The Price Will Be Determined At Closing
Some borrowers elect to allow the price to "float" -- change with the market -- until shortly before closing. Such borrowers are told they will receive the "market price" at the time they lock. Few loan providers, however, explain how the market price is determined.
The market price at closing should be the price available if the loan were delivered immediately. This is also the price quoted to new customers electing to float on the day you lock. Because the lock price is always higher than the float price, floating should save you money if interest rates don't rise.
The reality, however, is that in the absence of an agreement to the contrary, the market price at closing is what the loan provider says it is. And many say that it is the 30 or 45-day lock price, rather than the float price.
Assume That The Loan Provider Who Offers The Best Price On One Type Of Loan Will Also Have The Best Price On Another
It is common for borrowers to shop the loan they think they want, then change their mind later in the process. For example:
*They begin thinking they want a fixed-rate loan, then switch to an adjustable.
*They begin thinking they want a 30-year term, then switch to 15-years.
*They begin thinking they want a zero-point loan, then switch to 3 points.
Such switches may invalidate their shopping because the loan provider with the best price in one loan category may not have the best price in another.
One way to avoid this mistake is to retain an Upfront Mortgage Broker (UMB) to shop for you.

Housing starts stay strong post-Katrina

2005-10-18T13:39:00.000-07:00

Angelina Jolie tops men's survey
I should be surprised if men would have chosen someone else!!
Cosmopolitan magazine polled 1,500 men to discover who their ideal sexual partners and perfect wives were.Mr and Mrs Smith star Jolie, 30, , came top in a list of women they would like to sleep with, with 72% of the vote.She was followed by former nurse turned Celebrity Love Island contestant Abi Titmuss, with 61%.But only 4% wanted to tie-the-knot with Abi, while former Friends star Aniston, 36, was top of the marriage league, with 45% of the vote.Cosmopolitan editor Sam Baker said: "Jennifer gives the impression she`s homely and wants to settle down, which appeals to men."In terms of marriage, they still want to be looked after and have a sense that their partner isn`t going to run off with someone else."Singer Charlotte Church is third place as an ideal sexual partner, even beating Hollywood goddess Halle Berry.BBC Breakfast presenter Natasha Kaplinsky is also in the top 10, with the likes of Sienna Miller, Gwyneth Paltrow and celebrity chef Nigella Lawson.Least favourites for marriage were daytime TV presenters Judy Finnigan and Fern Britton and supermodel Naomi Campbell.Cosmopolitan magazine said the percentages did not total 100% because respondents were asked to place the celebrities in one of three categories, ideal sexual partner, ideal marriage material and "wouldn`t go near with a barge pole", rather than choose their number one favourite.

Housing starts stay strong post-Katrina
Unexpected rise in building activity shows 'no evidence' of a downturn, a housing market bear says.
Hurricane Katrina and higher prices for construction materials could not put a dent in the white-hot home building market, according to a government report Wednesday, the first broad look at the national real estate market since the storm.
Housing starts rose 3.4 percent to an annual rate of 2.11 million in September, the third-best month on record, the Census Bureau reported. That's an unexpected increase from the 2.04 million annual pace in August, which was also revised higher.
Economists surveyed by Briefing.com had forecast the annual rate would slip to 1.98 million.
The only two months with a faster pace of housing starts were January and February of this year, according to the government report. Starts jumped about 10 percent from year-earlier levels.
Building permits, generally seen as a reading of home builders' confidence in the market, also rose unexpectedly, to an annual rate of 2.19 million from 2.14 million in August. Economists had forecast a decline to a rate of 2.08 million.
The South saw the best gains in housing starts, up more than 6 percent.
But the Census Bureau said it believes the impact of Hurricane Katrina on the regional and the national numbers was minimal. And while more than 45 percent of the nation's home building takes place in the South, the region directly hit by Katrina is a relatively small part of the South's building boom.
No signs of weakness
Even an economist who is one of the leading advocates of the real estate "bubble" theory said the most recent report shows no sign of weakness.
"It's clearly very strong across the board. There's no evidence of any downturn at this point," said Dean Baker, co-founder of the Center for Economic and Policy Research.
But Baker said that housing starts and permits, while a leading indicator of real estate market strength, are probably not where any weakness in the real estate market will first be seen.
"I've always thought you'll have the movement in price before you'll see it on quantity side," said Baker. "As long as the price remains high, if you're a builder, you want to get the houses up in order to cash in."
Wednesday's Census Bureau report does not contain any information on housing prices.
Dave Seiders, chief economist for the National Association of Home Builders, said even he was surprised by the strength of starts and permits. The group's own survey of builders in early September and again in early October have shown some signs of slowing construction not seen in the government report.
"I didn't expect to see the numbers deteriorate because of the effect of Hurricane Katrina. But I expected to see a retreat because some other signals have been suggesting either a flattening of the market or a slight decline," he said.
Builders are also telling the trade group they're starting to run into some resistance from buyers for higher prices due to increases in material and land costs.
"A large percentage are offering sales incentives to keep things going, a free amenity, or paying closing costs," Seiders said.
But Seiders said as good as numbers have been, he remains concerned that the very strong housing starts and permit numbers could lead to oversupply if the market does show significant softening.
"Some people are probably going to argue that the builders might be a little over exuberant here," he said. "While I view it (the housing starts report) as a good news, I have a little concern as to whether the builders are tracking the demand side accurately. Hopefully they are."
Storm impact tough to gauge
Seiders said he believes the real impact Katrina on building will be seen in the time it takes to complete building due to shortages of some materials, not in the housing starts or permit numbers.
Some materials, including plywood and other wood panels, as well as concrete, have seen price increases and shortages due to a combination of demand from the hurricane-affected region and supply chain disruptions caused by the storm.
"I would expect builder profit margins will be affected by the hurricane," he said. "But margins were very healthy going into this."
Regarding Katrina's impact on the government numbers, a home that is completely rebuilt due to storm damage will be counted as new construction, though it was not immediately clear how many of those were included in this report.
Manufactured houses moved into the region to house those displaced by the storm are not counted as housing starts, the bureau said.
The Northeast and the West both saw little change in housing starts in September. The West actually saw a 5 percent drop in single-family home starts, with multi-family home gains allowing building to remain level.
Meanwhile, the South saw a 3 percent drop in home building permits, although local governments that couldn't be contacted by the bureau due to the storm were assumed to have issued no building permits during the month.
The other three regions all saw gains in permits, with permits for new homes in the West up more than 11 percent.
Building could have gotten a lift from a slight drop in mortgage rates following Hurricane Katrina.
The survey by mortgage financing firm Freddie Mac put the average 30-year mortgage rate at 5.77 percent in September, down from 5.82 in August. But the average mortgage rate has since risen above 6 percent in the most recent weekly survey.

Truth Behind The Housing Bubble – Is Froth

2005-10-17T15:40:00.000-07:00

Jolie tipped to become Bond girl

Actress Angelina Jolie is being tipped to become a Bond girl in the upcoming movie in the franchise, 'Casino Royale'.
According to Ananova.com, Jolie is reportedly in talks to play the part of Vesper Lynd, a Russian double-agent.
actresses who were reported to be interested in starring in 'Casino Royale' include Jessica Alba, Uma Thurman and Rachel Stevens.
Daniel Craig was announced as the next actor to play James Bond at a press conference in London last Friday.
Craig and Jolie previously starred opposite each other in 'Lara Croft: Tomb Raider'.

Truth Behind The Housing Bubble – Is Froth

A couple of weeks back, I was having lunch with some real estate industry folks when one of them, a developer, asked me why the media were so focused on the "bubble."
"You know," he said, "the more you talk about something, the more likely it is to become a self-fulfilling prophecy." The developer quickly added that he did not believe in the bubble.
That afternoon, I was channel-surfing and landed on Fox News, where a few of the shouting heads were suggesting that the bubble was, in fact, simply a creation of the media.
I'm not sure who these experts were - the cable news shows must be collaring people in suits at bus stops to keep their schedules filled. I watched for the whole six minutes of discussion and still couldn't figure out how they came to the media-conspiracy conclusion. Since they were on TV, where everything is right and true all the time, they probably knew what they were talking about.
A couple of days later, a broker I know faxed me something about an entrepreneur who had been making lots of money with his "Mr. Housing Bubble" T-shirt. Somewhere down the page was a quote by a real estate expert I know who contended that the bubble idea was invented by stockbrokers trying to scare real estate investors back into the stock market.
At first, I thought it was really funny, until I repeated it to two people whom I consider so level-headed that I'd be willing to balance glassware on them. Both replied that they wouldn't be surprised if that were true.
Think of a problem, and there's a matching conspiracy theory. Look at the number of people who thought "The X-Files'' was fact-based, who believe that the folks on "Gilligan's Island'' remain stranded, and - well, you name the difficulty and there's got to be someone or some group causing it.
Have the stockbrokers been influencing the media to fabricate a bubble? You can believe it or not. I'll admit I don't, not being a big believer in conspiracies. But I promise that if I'm wrong, I'll be the first to acknowledge it.
No matter how much we try to look at residential real estate as a national phenomenon, it remains local, or at the most regional. California and the Middle Atlantic are both on coasts, but there are different economic and social factors affecting how and where housing is built, bought and sold there.
It's not the same everywhere.
Between 1995 and 2000, the dot-com boom propelled residential development in San Francisco. Vacant buildings either became residential lofts or housed dot-com companies, which gave the landlords - who spent their own money retrofitting warehouses and factories to the needs of computer geekdom - stock options instead of rent.
Few of these Web creatures made money, a flaw that finally proved fatal when, in April 2000, investors looking for some return began pulling their money out of tech stocks. It also meant there were a lot of empty buildings and landlords holding a lot of worthless paper.
There might have been some good news for the artists and others whom the dot-coms had displaced had they been able to reclaim their former homes. But the tech boom had pushed housing prices beyond reach. And prices have increased since. Although some estimates are that 300,000 jobs have been lost in the Bay Area since 2000, wages for those that remained were high enough, and interest rates low enough, to sustain high prices.
The Office of Federal Housing Enterprise Oversight has reported a "deceleration" of housing-price increases nationwide. That means housing prices continue to increase, but not at the same pace as last year or 2003.
Harvard's Joint Center for Housing Studies doubts that the bubble will burst, noting that the housing boom is now 13 years old while decrying the fact that the boom has made home ownership unaffordable for an increasing number of Americans.
Economist Dean Baker is a bubble advocate. When the bubble bursts, according to excerpts from his "Housing Bubble Fact Sheet" reported by Rismedia, the collapse will have a larger impact than the stock-bubble collapse.
Why? Because housing wealth is far more evenly distributed and the bursting bubble likely will throw the economy into a recession and require a federal bailout of the mortgage market. It could lead to a loss of 3.6 to 4.5 percentage points of gross domestic product.
Given how far out of line house prices have grown from fundamentals, Baker said, there is no way to avoid enormous economic damage when the bubble collapses. However, the sooner house prices drop, the less damage there will be.
Or not.

Brad Pitt's Grandmother Disproves Pitt – Angelina Jolie Wedding

2005-10-16T10:13:00.000-07:00

"Brad is a guy who really cares about his whole family from his grandma on down"

According to rumors, Brad Pitt's grandmother doesn't approve his nephew's decision of getting married so quickly with his lover, actress Angelina Jolie.
An insider tells the magazine that Brad wants to listen to his mother as he respects her opinion, but "he's in love."
"Brad is a guy who really cares about his whole family from his grandma on down," the friend dishes.
In Touch also quotes Betty Russell, Brad's grandma saying: "It's all too soon for a wedding."
"She's been married twice, Brad is just divorced and the family doesn't see any need to rush things.

Britney Spears Wants 'Old Killer Butt' Back: Drops Baby Weight
Pop star and new mom Britney Spears packed on the pounds as she carried her first child Sean Preston. But now just a month after the birth of her baby several Britney Spears pictures show that she is well on her way to slimming down.

2005-10-15T10:58:00.000-07:00

Mine Iraq's border? Don'ttake that step, pleads Jolie
Angelina Jolie is taking a stance against the proposed mining of Iraq's borders.

Nearly 40% of Properties Are Mortgage Free

Nearly 40 percent of all residential properties in the United States, owner-occupied and rental units, are not mortgaged but are owned free and clear. This is just an example of housing finance information that can be found in a new report, Residential Finance Survey: 2001, recently releasedby HUD and the Census Bureau.
The Survey looks at all privately owned, non-farm properties and all sources of mortgage financing. Data collection involved interviews with the owner-occupants and owners of rental properties with further data collection from the holders of the mortgage loans. The source for estimates in the report, the Survey of Residential Finance, is part of the decennial Census.
Extensive information on housing finance is reported for owners and mortgage holders interviewed in 2001. For example:
About a quarter of all mortgages are insured or guaranteed by private mortgage insurance companies, Federal Housing Administration (FHA), Veteran’s Administration (VA), Rural Housing Service, or state agencies.
As a result of refinancing and residential mobility, most mortgages (60 percent) for single-family properties are fairly new, i.e., originated within the 4 years prior to the survey.
Between 1991 and 2001, total mortgage debt outstanding increased by over 80 percent. (Residential mortgage debt has continued to grow since the survey and has increased another 50 percent between 2001 and the first quarter of 2005 according to Federal Reserve statistics.)
Installment loans used to finance manufactured or mobile homes are predominately supplied by finance companies.
The survey also collected information on the characteristics of the housing units or properties, including: location, year built, year acquired, purchase price and current value, age restrictions, recent capital improvements, and any receipt of subsidy or assistance. The basic demographics of the owners was collected including; age, race, sex, Hispanic/Latino origin, veteran status, and income.
The main purpose of the survey was to collect information about mortgage financing. The report contains information for all first mortgages including: application method, reasons for refinancing, amounts and uses of cash-outs, year of origination, use of mortgage insurance or guarantees, type of mortgage, origination amounts and current balance, interest rate, interest rate buydowns, original and remaining term of the mortgage, indexes and caps used for ARMs, and items included in and amounts of monthly payments. Similar, but less detailed, information is reported for junior mortgages and home equity lines of credit.
For rental properties, information is reported on rental income, vacancy losses, real estate taxes, costs for maintenance and repairs, utility and fuel expenses, administrative and management expenses, capital improvement expenditures, and legal form of ownership.
The report chapters are organized by tenure – owner-occupied and rental and vacant units – and by number of units in the property. There are separate chapters for condominiums and for manufactured (mobile) homes.
Appendices to the report include facsimiles of the questionnaires, sample design and sampling errors, content descriptions and definitions, and data processing procedures. The report is available for free as a downloadable PDF document from either the HUD Internet site or Census Internet site. In addition to the tables for the nation and the four Census regions included in the report, additional tables for more detailed geographical areas are available on the Census Internet site.

Young Adults - The Fastest Growing Home Buying Segment

2005-10-14T18:34:00.000-07:00

Doherty Moves on from 'Love'

She battles Armageddon in an upcoming miniseries, but Shannen Doherty has already weathered one storm this television season.
After the media frenzies over her exits from "Beverly Hills, 90210" and "Charmed," the actress was let go from UPN's new Thursday sitcom "Love, Inc." after making the pilot episode. Replaced in the show by Busy Philipps, Doherty has moved on to other projects like CBS' "Category 7: The End of the World," which starts Sunday, Nov. 6. A superstorm-fighting scientist in that miniseries, she claims little science is needed to understand her "Love, Inc." dismissal.
"Bottom line, it didn't work out," she states. "I'll be honest and say it was somewhat heartbreaking for me ... really, really difficult. I loved the cast." Doherty singles out "Love, Inc." co-star Holly Robinson Peete as "phenomenal, unbelievable at comedy. I think my biggest regret is not working with her more, because I know I would have learned so much from that girl."
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So what went wrong for Doherty? "Look, people make decisions. The only thing I can say is that it had nothing to do with me personally. There will always be the press people who want to write, 'Oh, she was difficult,' but I think most of the show's producers and cast went out there and defended me and said, 'That's not what the deal was.' And it wasn't.
"It was a personal decision on the part of Les Moonves (co-president and co-COO of Viacom, which owns UPN and CBS). He felt it wasn't the right fit, and whatever his reasons were, I respect them. Then he turned around and put me in 'Category 7,' so maybe to him, I'm a dramatic actress. It all boils down to faith. I have to have faith in myself and in God, and to know that if things don't work out, there's a reason. All I can do is try my hardest not to make the same mistakes I made in my youth, which I've worked extremely hard not to."
Now glad to be developing series with producing partner Gavin Polone ("Curb Your Enthusiasm," "Gilmore Girls"), Doherty also is grateful to have acted with Randy Quaid in "Category 7," so she's hardly overwhelmed with "Love, Inc."-related remorse. She reflects, "Who am I to sit here and say, 'I can't believe that didn't work out'? I have the most fortunate life anyone could ask for, and I have an amazing family and amazing friends. If one little thing goes wrong, you can't get down about it. You just pick yourself up and move forward.
"You could knock me down 30 more times and I would still get up and persevere," Doherty adds. "That is in my nature, but it also comes with passion. I love my job, and if you have passion for what you do, you're going to get right back up."

Young Adults - The Fastest Growing Home Buying Segment
When most of his peers were splurging on cars, clothes and bar outings, 19-year-old Bryan McLaughlin was shopping for his first home.
"I had a bunch of money saved up, and I was looking at cars when a friend recommended I buy a condo," he said in September.
McLaughlin, a Canton, Mich., resident, skipped college and at 17 began to work 50 hours a week at an orthodontic lab and a liquor store. By 19, he had put aside more than $20,000. With the tax incentives in mind, he decided to put all of it down on a 1,440-square-foot, $180,000 condo that overlooks a golf course.
His nest egg allowed him to secure a three-year, adjustable-rate mortgage at 5.25 percent.
"It was actually kind of nice to settle down," he said.
McLaughlin, now 21, said that after a little more than a year, his condo has appreciated more than $10,000. "I wouldn't be surprised if I make $20,000," he said.
In a real estate market of record-low interest rates and down payments that can be waived, it's no surprise that homeownership is on the rise. During the past decade, however, the rate of homeowners younger than 25 has surpassed all other age groups. According to the U.S. Census Bureau, the rate of home owners who are younger than 25 has jumped 69 percent - from 14.9 percent in 1994 to 25.2 percent in 2004 - as teens and people in their 20s choose to own rather than rent.
Don Precour, regional sales manager for National City Mortgage, which handles McLaughlin's mortgage, said he has seen an increase in the number of younger buyers, who still account for less than 10 percent of his clientele.
"When you look at rental rates, most people are better served as homeowners," he said.
Precour said one big reason for the increase in the number of young owners is the availability of mortgage programs that require little or no down payment.
"When I bought my first home at 23, I had to put 20 percent down," Precour, 45, said recently. "With our programs, it could be ... $500 or less."
But liberal down payment options aren't the only draw for young homeowners.
When Jonathan and Angel Burt married in 2002, he wanted a house in Detroit, and she wanted a rental in the suburbs. So they applied for both, and the outcome made the decision for them.
"We couldn't get our credit approved to rent an apartment outside the city, but we got approved to own" in Detroit, said Jonathan Burt, who was 22 at the time. "It's actually kind of strange how that worked out."
Today, Jonathan Burt, 25, and Angel Burt, 26, are the proud owners of a three-bedroom bungalow. With a 20-year, fixed-rate mortgage at 8.5 percent through U.S. Bank and annual tax deductions unavailable to renters, the couple plan to live in their home for at least four more years.
According to 2004 U.S. Census figures, the majority of homeowners younger than 25 - almost 28 percent - are married.
The Burts have found, however, one down side to owning instead of renting - the absence of a landlord.
During a 2003 Super Bowl party, a guest flushed paper towels down the toilet, causing a backup into the basement and $5,000 in flood damage.
"We had to move out of the house for a month," Jonathan Burt said in September. "We really wished we had a landlord then."
Still, their home was recently appraised at $93,000, $18,000 more than what they paid three years ago.
"It's definitely worthwhile," he said of the investment.
Mark Johnson, assistant vice president and district manager of GMAC Real Estate Co., said tax deductions and equity are the major financial benefits to owning a home.
Johnson said he believes the number of mortgage clients younger than 25 is climbing, although the firm does not track its business by age groups.
"It's a lot higher than when I first started," said Johnson, who has been with the company since 1992.
While GMAC offers various down-payment options for young mortgagers, Johnson said good credit is the key to low monthly payments.
"More and more, everything is credit-score-driven," he said.
Allen Goodman, economics professor at Wayne State University, agreed.
He said mortgage companies are making home buying as easy as possible if the buyer's credit permits. Goodman said that with inexperienced buyers, there is the risk of money mismanagement.
"There can be a tendency to stretch yourself to the limit," he said, adding that variable-rate mortgages can catch young owners off guard. "You find yourself in a situation where your income isn't going up and your payments are."
For that very reason, Rachel Demonte, 24, decided to hold off on buying her first home until she picks the right mortgage plan and saves enough to feel financially secure.
A recent Eastern Michigan University grad, Demonte moved in with her parents in Novi, Mich., in June to save money and focus on her job as a Quest Diagnostics sales representative. With good credit, no student loans and about $12,000 saved up, she took on a second job as an aerobics instructor to bring in some extra income. She began to shop for condominiums in August.
As a young, single woman, Demonte would be a homeownership minority. According to 2004 U.S. Census figures, only 13 percent of homeowners younger than 25 are females living alone.
Eager to own, Demonte said recently that she can't wait to move out of her parents' house.
"It's a lack of space and a lack of freedom," she said. "Talk about trying to have a real life."
5 reasons young people are buying instead of renting:
Expectations of home appreciation.
Record-low mortgage interest rates.
Mortgages requiring little or no down payment.
Decline in discrimination by lenders has resulted in more opportunities for young, minority buyers.
Homeowner training and counseling services through public housing authorities and nonprofit firms

Mortgages: 6% and above

2005-10-13T18:00:00.000-07:00

Jennifer Lopez and Marc Anthony Head to Dominican Republic
Celebrity couple Jennifer Lopez and Marc Anthony head to the Dominican Republic this weekend to perform at the annual Latin Music Festival.
The festival will also include Julieta Venegas, Diego Torres, David Bisbal, Chayanne, Franco De Vita and Daddy Yankee. Local performers will include Negros, Frank Reyes, Eddy Herrera, Krisspy and a unique combined performance by Sergio Vargas, Los Rosario, Los Toros Band and Rubby Perez.
"The Presidente Latin Music Festival is one of the largest events in the DR to display our unique and colorful range of music," comments Luis Simo, Vice Minister of Tourism. "We are excited about this opportunity to showcase talent that embodies our country's distinctive Latin culture."
Performances kick off at 6pm each day in the various locations at Santo Domingo and Santiago.
Sony BMG will also release the limited edition compliation album 'Best of the Presidente Latin Music Festival' to coincide with the event.

Mortgages: 6% and above
Driven by energy costs & inflation, the average 30-year rate could reach 6.7% in 2006, say experts.
30-year mortgage rates rose above 6 percent Thursday for the first time since March, potentially helping set the stage for a slowdown in home sales.
Freddie Mac reported that the average rate on 30-year fixed-rate mortgages reached 6.03 percent. (Full story)
Rates first dipped below 6 percent in January 2003, having not been that low since 1965, according to Freddie Mac. They fell as low as 5.23 percent in June 2003 before rising again.
The average annual rate in the 1990s was 8.12 percent. In the 1980s, the rate averaged a whopping 12.70 percent, getting as high as 18.45 percent in inflation-ridden October 1981. The high 30-year rate of the early 1980s contributed to abysmal home sales rates in those years.
Real estate's unprecedented tear -- the past four-and-a-half years all set new records for existing-home sales -- has been facilitated by easy credit, but that era may be on its way out.
"Right now, we're seeing upward momentum in long-term rates, especially with new inflation worries," said Daniel Jester, an analyst with Economy.com. "Long-term rates have been so low for so long compared to where they'd normally be in the business cycle -- at some point a correction is necessary."
"The main reason why the 30-year rate stayed low despite the Fed's short-term rate hikes is that people saw inflation as well-contained," said Lawrence Yun, senior economist at the National Association of Realtors (NAR). "Now that inflation appears to be out of its container as a result of energy prices, we are seeing some jumpiness in the long-term rates."
"We expect a very slow climb in the 30-year fixed, to 6.7 percent by the end of 2006," said NAR spokesman Walter Maloney.
The pinch of the sixes
As rates rise, so will the prospective home buyers' monthly mortgage payment, and the housing market could cool as it sees fewer potential buyers.
But analysts disagree over what type of rate rises it would take to usher in this scenario.
"The number which we believe will cause tangible cooling is 6.5 percent," said Economy.com's Jester. "But because so many people have already bought into the market, the number could even be a bit lower."
The NAR calculates a monthly Housing Affordability Index -- a measure of how easy it is for a family with a median income to purchase a median-priced home -- with 100 meaning a family has exactly enough income for a purchase.
When mortgage rates rise, the affordability index declines -- a family either needs more income or has to buy a less expensive home.
The NAR's Maloney says that the 30-year fixed would have to climb all the way to 8.6 percent to make homes less affordable -- and bring the index down to its median 100.
"Sales should slow a little bit next year, but look at the incredible years we're comparing that to," he said.
The NAR puts the median US home price in August at $219,400. To afford a home at that price with a 30-year mortgage at the current average of 6.03 percent, a home buyer would have to make monthly payments of $1,320.
At a mortgage rate of 6.5 percent, that figure rises to $1,387 a month, pricing a new home out of reach of some salaries.
In addition, the raft of nontraditional mortgage products available for people seeking smaller monthly payments -- interest-only mortgages and option adjustable-rate mortgages -- are becoming more difficult to obtain as interest rates rise.
"We're seeing a tightening up on mortgage terms. In 12 to 18 months, we'll get the first payment shocks from these new types of mortgages," said Nick Retsinas, Director of Harvard's Joint Center for Housing Studies. "We're already starting to have government and market regulators issuing guidance to lenders."
Because lenders have made mortgages more available to people with small down payments, they are likely to encounter increasing defaults in coming months. Loan regulators are concerned that mortgage terms not be too lenient.
Who will feel it first?
When higher 30-year rates do take hold, who will be hurt the most?
"First-time buyers will definitely feel it. In many markets, there's been such upward price pressure that the only way people have been able to get into home is through low rates," said Retsinas.
"I think both people seeking 30-year mortgages and adjustable rate mortgages will be affected by higher rates," said Economy.com's Jester. "The long-term rate rises will make it hard for many home buyers to qualify for a 30-year, and short-term rate hikes will pinch those who want ARMs."
The Federal Reserve last raised the federal funds rate a quarter-percentage point to 3.75 percent on September 20th, and is widely expected to continue with the hikes. (Full story)
Home pricing also continues its miraculous rise -- as indicated by last week's report that 86 percent of California residents could not buy a typical home with a traditional down-payment, according to the California Association of Realtors. (Full story)
With pricing and mortgage rates conspiring against home buyers, it just got a little more difficult to pin down your dream home.

Mortgages: Bracing for 6%

2005-10-12T17:35:00.000-07:00

Actress Angelina Jolie Wins UN Humanitarian Award
Angelina you really deserve it honey.
Actress Angelina Jolie has accepted a United Nations award for her work as a goodwill ambassador for the U.N. High Commissioner for Refugees.
Accepting the Global Humanitarian Action Award late Tuesday, Jolie said her U.N. work has been the greatest thing in her life, next to her two children.
She also called the United Nations "the closest thing to fighting for justice" and said she feels privileged to be a small part of it.
Named a U.N. goodwill ambassador in 2001, Jolie has since visited and brought media coverage to refugee camps in places such as Tanzania, Cambodia, Pakistan, Thailand and Ecuador.
The 30-year-old actress has a four-year-old son adopted from Cambodia and an infant daughter adopted from Ethiopia.

Mortgages: Bracing for 6%
Driven by energy costs & inflation, the average 30-year rate could reach 6.7% in 2006, say experts.
30-year mortgage rates look set to rise above 6 percent for the first time since July 2004, potentially helping set the stage for a slowdown in home sales.
Freddie Mac reported last week that the average rate on 30-year fixed-rate mortgages rose to 5.98 percent. (Full story)
Rates first dipped below 6 percent in January 2003, having not been that low since 1965, according to Freddie Mac. They fell as low as 5.23 percent in June 2003 before rising again.
The average annual rate in the 1990s was 8.12 percent. In the 1980s, the rate averaged a whopping 12.70 percent, getting as high as 18.45 percent in inflation-ridden October 1981. The high 30-year rate of the early 1980s contributed to abysmal home sales rates in those years.
Real estate's unprecedented tear -- the past four-and-a-half years all set new records for existing-home sales -- has been facilitated by easy credit, but that era may be on its way out.
"Right now, we're seeing upward momentum in long-term rates, especially with new inflation worries," said Daniel Jester, an analyst with Economy.com. "Long-term rates have been so low for so long compared to where they'd normally be in the business cycle -- at some point a correction is necessary."
Jester believes rates will reach 6 percent this week or the week following. Freddie Mac will make its weekly announcement on average rates on Thursday.
"The main reason why the 30-year rate stayed low despite the Fed's short-term rate hikes is that people saw inflation as well-contained," said Lawrence Yun, senior economist at the National Association of Realtors (NAR). "Now that inflation appears to be out of its container as a result of energy prices, we are seeing some jumpiness in the long-term rates."
"We expect a very slow climb in the 30-year fixed, to 6.7 percent by the end of 2006," said NAR spokesman Walter Maloney.
The pinch of the sixes
As rates rise, so will the prospective home buyers' monthly mortgage payment, and the housing market could cool as it sees fewer potential buyers.
But analysts disagree over what type of rate rises it would take to usher in this scenario.
"The number which we believe will cause tangible cooling is 6.5 percent," said Economy.com's Jester. "But because so many people have already bought into the market, the number could even be a bit lower."
The NAR calculates a monthly Housing Affordability Index -- a measure of how easy it is for a family with a median income to purchase a median-priced home -- with 100 meaning a family has exactly enough income for a purchase.
When mortgage rates rise, the affordability index declines -- a family either needs more income or has to buy a less expensive home.
The NAR's Maloney says that the 30-year fixed would have to climb all the way to 8.6 percent to make homes less affordable -- and bring the index down to its median 100.
"Sales should slow a little bit next year, but look at the incredible years we're comparing that to," he said.
The NAR puts the median US home price in August at $219,400. To afford a home at that price with a 30-year mortgage at the current average of 5.98 percent, a home buyer would have to make monthly payments of $1,312.
At a mortgage rate of 6.5 percent, that figure rises to $1,387 a month, pricing a new home out of reach of some salaries.
In addition, the raft of nontraditional mortgage products available for people seeking smaller monthly payments -- interest-only mortgages and option adjustable-rate mortgages -- are becoming more difficult to obtain as interest rates rise.
"We're seeing a tightening up on mortgage terms. In 12 to 18 months, we'll get the first payment shocks from these new types of mortgages," said Nick Retsinas, Director of Harvard's Joint Center for Housing Studies. "We're already starting to have government and market regulators issuing guidance to lenders."
Because lenders have made mortgages more available to people with small down payments, they are likely to encounter increasing defaults in coming months. Loan regulators are concerned that mortgage terms not be too lenient.
Who will feel it first?
When higher 30-year rates do take hold, who will be hurt the most?
"First-time buyers will definitely feel it. In many markets, there's been such upward price pressure that the only way people have been able to get into home is through low rates," said Retsinas.
"I think both people seeking 30-year mortgages and adjustable rate mortgages will be affected by higher rates," said Economy.com's Jester. "The long-term rate rises will make it hard for many home buyers to qualify for a 30-year, and short-term rate hikes will pinch those who want ARMs."
The Federal Reserve last raised the federal funds rate a quarter-percentage point to 3.75 percent on September 20th, and is widely expected to continue with the hikes. (Full story)
Home pricing also continues its miraculous rise -- as indicated by the last week's report that 86 percent of California residents could not buy a typical home with a traditional down-payment, according to the California Association of Realtors. (Full story)
With pricing and mortgage rates conspiring against home buyers, it just got a little more difficult to pin down your dream home.

Mortgage deduction changes on the table

2005-10-11T16:10:00.000-07:00

Jessica Biel has been proclaimed "the sexiest woman alive" by Esquire magazine. The actress is featured on the cover of Esquire's November issue, following last year's honoree, Angelina Jolie.The 23-year-old Biel, who began as a teenager on the family TV series "7th Heaven," plays a supporting role in the upcoming "Elizabethtown" and starred earlier this year in "Stealth."
I still Think Angelina Jolie is the sexiest ever.

Mortgage deduction changes on the table
The president's tax-reform panel may propose adjustments to the deduction and capital-gains rates.
Owning a home may become less tax-friendly than it has been, if suggestions from the president's tax-reform panel are considered seriously by Congress in the next year or so.
The bipartisan panel, which held a public meeting on Tuesday, is charged with making proposals for ways to reform the tax code. President Bush instructed the panel to come up with suggestions to make the tax code simpler, fairer and more geared to promoting economic growth.
Among other things, Bush instructed the panel to make sure that any revised code continues to promote homeownership.
While preserving tax incentives to buy a home, the panel said Tuesday it was considering changes that address issues of fairness and economic growth.
Current breaks Currently, the interest on mortgages up to $1 million may be deducted at a homeowner's marginal -- or top -- income tax rate. That is, the rate on which their last dollar is taxed.
In addition, when selling a home, owners may keep $250,000 in capital gains tax-free if they're unmarried, or $500,000 if they're married, filing jointly.
How fair are they? Those breaks are heavily skewed toward high-income tax payers, said panel member James Michael Poterba, associate head of the economics department at MIT.
The top 2.2 percent of tax returns claim 22 percent of the benefits from the mortgage-interest deduction, he noted.
And the deduction disproportionately benefits homeowners who itemize their deductions. In 2002, of the 130 million federal tax returns filed, only 46 million itemized. Of those, 37 million claimed the mortgage-interest deduction. (Those who don't itemize just take the standard deduction, which they would get even if they didn't own a home.)
The growth issue The current code, economists argue, disproportionately favors real estate over other investments. That's because there is not an exemption on capital gains earned on stocks and many bonds.
Economists say that investment in other forms of capital would increase productivity and thereby economic growth at a much greater rate than a home purchase.
Possible changes
The panel hasn't made any firm decisions about what it will propose in its final report, due Nov. 1. But it is considering a number of options. Among them:
Reducing from $1 million the size of a mortgage on which interest may be deducted. If such a proposal were made, it's possible that the mortgage size would vary by region depending on local home prices.
Replacing the mortgage-interest deduction with a tax credit, allowing all homeowners with a mortgage to get a tax break -- not just those who itemize.
Reducing the tax rate at which mortgage interest may be deducted. Likely a proposed rate would be a middle-income tax rate, such as 15 percent or 25 percent. That would preserve the benefits of homeownership for middle-income taxpayers, Poterba said.
Reducing the total capital gains exempted from tax.
Combining two of these elements -- say, reducing capital-gains exemption threshold and lowering the deduction rate on mortgage interest.
Members of the panel stressed that if any changes were made, there would have to be a gradual transition period so as not to upset the housing market, or harm current homeowners. The transition might involve grandfathering in the tax breaks enjoyed by current homeowners, or phasing them out slowly.
"There's a basic fairness issue, not to change the rules of the game (on current homeowners)," Poterba said.

Not many can afford California home

2005-10-10T17:34:00.000-07:00

Shannen Doherty
why we like her?
She's not a bitch, she just plays one on TV. Excellent.
why is she famous?
She played Brenda Walsh on Beverly Hills 90210, and is the star of the WB witch show Charmed (but recently announced her departure). She also has one of the worst reputations for behavior in Hollywood.

Not many can afford California home
Survey: Only 14% of households can buy typical house with traditional down payment.
Soaring prices in California's housing market have shut out a record 86 percent of households from buying a typical home with a traditional down-payment, according to a study released Thursday.
Home prices across California have more than doubled since late 2001, increasing pressure on home buyers, who needed a minimum household income of $133,800 to buy a home at the August median price of $568,890, the California Association of Realtors said in its report.
That meant that only 14 percent of households could afford the typical home, down from 18 percent a year earlier, and the lowest level since records began in 1989, the report said.
The group's calculation was based on a mortgage interest rate of 5.87 percent and assumed a 20 percent down payment. The national minimum household income needed to buy a median-priced home at $220,000 last month was $51,740, the group said.
"It certainly is a concern when we reach a record low for affordability," said association economist Robert Kleinhenz.
August's affordability reading matched a record low 14 percent recorded in early 1989, shortly before a downturn in property prices that began in mid-1991.
"Households in California want to buy homes and can find loan products to do so, but they have to stretch," Kleinhenz added. "Large numbers of households are dedicating 40 percent and in some case 50 percent of their income to housing costs ... The norm nationally is 30 percent."
Fast-rising prices in California have forced home buyers to opt increasingly for interest-only and adjustable-rate mortgages over 30-year fixed-rate mortgages to lower their monthly mortgage payments, a trend concerning many analysts.
They argue that mortgage payments when the loans readjust will be too large for many borrowers if interest rates rise and hold at high levels -- driving more homeowners to sell under distress if they can not refinance loans.
"Our concern is that because it's been so easy to refinance, people assume it always will be," said Beth Haiken, a spokeswoman for PMI Mortgage Insurance Co., a unit of PMI Group Inc. "They may be able to refinance, but not on the loan terms they want."
Just under a third of mortgages initiated or refinanced in California this year have interest-only components, compared with 1.4 percent in 2000, according to LoanPerformance, a unit of data provider First American Corp.
Another way home buyers in California are coping with high home prices is by increasingly moving from pricey urban coastal areas to inland areas where homes are more affordable.
California's coastal Santa Barbara region, where just 6 percent of state households could afford a median-priced home, was the state's least affordable market in August, the real-estate trade group said.
California's most affordable area in August was the High Desert region north and east of Los Angeles, followed by the Sacramento region in the central part of the state.
Twenty-eight percent of households could afford to buy homes in the High Desert region and 19 percent could afford homes in and around Sacramento, the state capital.
Home-price appreciation next year will be stronger in inland areas than in coastal areas, Kleinhenz said, adding that the overall pace of home-price appreciation in California was expected to slow next year.
"For 2006, we're saying California's median home price will go up by 10 percent, compared with a projected increase of 16 percent for 2005," Kleinhenz said.

Katie Holmes More Pregnant Than Rumored

2005-10-09T21:05:00.000-07:00

Question of Week:

Your going to be on a deserted island for 2 years with the opposite sex, would you choose.. a.) someone you were extremely attracted to physically but could have absoultely no forfilling conversation with? - or - b.) someone you were extremely repulsed by physically but could have excellent forfilling conversation? PS. No mixing it up, I know its a tough call... think about it! A or B?

I choose A. After the sex, I'll just ignore the broad until I want more sex.

Tom Cruise’s Fiancée, Katie Holmes Is More Than 3 Months Pregnant

Good Job Tom ...
American actress Katie Holmes seem to have more then 3 months of pregnancy, or at least her big tummy says so.
Katie and her fiancé, Tom Cruise were spotted together, last weekend, watching Tom’s adopted daughter Isabella playing in a Los Angeles Park and Holmes had a really huge tummy, abnormal for just a 12 weeks pregnancy.
A fellow parent who saw the couple told Britain's Daily Mail newspaper: "She had a very considerable bump, and you could see her belly button through her floaty top. To me she looked more like a girl who was five months pregnant than three.If she does still have six months of her term left to go, she is going to be as big as a house by the time the baby arrives."
Cruise and Katie unveiled their relationship to the world in April, when Holmes joined Cruise in Rome for the David di Donatello awards and after barely two months of very public dating, Cruise proposed to Holmes June 17 atop the Eiffel Tower during a candlelight dinner at the Jules Verne restaurant.
Tom and Katie are not the first celebrity couple this year to announce a pregnancy before taking a walk down the aisle. Jennifer Garner, who is due to give birth in early December, got married with Ben Alffeck being three months pregnant. Singer Seal and model Heidi Klum married in May and expect their child on September 12.

How to Keep Your Cool in a Hot Real Estate Market

2005-10-08T15:45:00.000-07:00

Angelina Jolie Edges Jennifer Aniston as Top Halloween Hottie

When asked which Halloween costume would femmes like to don for October 31, the puffy-lipped and a bit scary Angelina Jolie edged out the striking all-American California girl Jennifer Aniston in a recent survey.
The poll was conducted online and shows America's passion for its Hollywood celebrities.
The survey polled nearly 500 residents of the United States and Canada reported a slight majority of females would rather dress up as Brad's current sultry starlet Angelina Jolie (35 percent) than the gorgeous girl-next-door Jennifer Aniston (nearly 31 percent).
Jolie had a bit of an advantage as her summer blockbuster movie "Mr. and Mrs. Smith inspired two costume choices - one for Brad and one for Angelina.
-- Angie's Mrs. Smith (approximately $27): used slinky black dress, used black heels, used toy gun (use black tape to create "holster"). -- Mr. Smith (approximately $40): used black suit, used white shirt, used toy gun, used black shoes.
It's not clear what type of costume trick-or-treaters will don to look like Jennifer. There's definitely a focus on Hollywood this year," said Michelle Dutkewych, buyer for Seattle-based Savers, Inc. "With the remakes of many classic television shows and movies, we are seeing a resurgence of interest in nostalgic characters from both teenagers and adults.
Expect to see many Jessica Simpson inspired Daisy Duke shorts on October 31 as well.

How to Keep Your Cool in a Hot Real Estate Market
Forget floods, fires, and earthquakes. Right now the biggest threat to your home could be you.I'm absolutely aghast at how today's housing mania is pushing consumers to make all the wrong real estate moves. The popularity of interest-only loans, rampant condo speculation, and the tapping of equity with adjustable rate loans (often to pay for extravagant lifestyle upgrades or to pay off credit card balances) are signs America's homeowners are on the verge of losing their minds.If you don't want to end up in the poorhouse, you need to get real about your real estate.To be honest, though, you had plenty of dangerous encouragement from a very influential guy. Federal Reserve Chairman Alan Greenspan practically rolled out the red carpet for you. His policy of keeping interest rates low has meant that mortgages have never been more affordable. And just a year ago he even pointed out that consumers have been better off using adjustable rate mortgages rather than fixed rate mortgages. You could make a good argument that the high priest of the U.S. financial markets provided mortgage lenders and consumers much of the rationale they needed to dive headfirst into adjustables.But Greenspan's timing left a lot to be desired. At about the same time he delivered that tribute to "adjustables," he was beginning his current campaign to raise interest rates. It's a path he's expected to keep for the foreseeable future. The Federal Funds rate, the interest rate directly controlled by Greenspan, is two percentage points higher than it was 15 months ago. Adjustable rate mortgages (ARMs) and home equity lines of credit (HELOCs) are tied to that rate, so anyone who took out a one-year ARM or a HELOC in the last year or two had better be ready for a painful hike in their payments.Nowadays, with no apparent sense of the irony involved, Greenspan is leading the warning brigade about a U-turn in real estate. In late August he went on record with a prediction that housing would cool down, saying he expects "house turnover will decline from currently historic levels, while home price increases will slow, and prices could even decrease."It may not happen next month, this year, or even next year, but it will happen. And some regions will no doubt be hit harder than others. But wherever you live, you are downright delusional if you think there's no risk in leveraging yourself up to your ears with mortgage debt to buy a house (or refinance) with the expectation that it's going to be worth a ton more next year. And that goes double if you are using an adjustable rate loan to finance your real estate delusion. In all likelihood that rate is going to get adjusted up -- not down -- in the future.That said, I still believe real estate is one of your smartest long-term investments. But read that very carefully: I said long term. It's the notion that you can buy today and have a 20 percent profit six months from now that's insane. So is the notion that you can count on real estate value to rise every year without any hiccups.

Father and Son Originators Nabbed in $18 Million Fraud Scheme

2005-10-07T15:30:00.000-07:00

Jennifer Lopez has asked 'Queer Eye For The Straight Guy' star Thom Felicia to decorate her new home. The Latin beauty, who recently bought the new Long Island pad with husband Marc Anthony, has called in the services of the hit makeover show's 'design doctor'.
As well as appearing on the show, Thom has his own interior design company, Thom Filicia Inc, and was once voted one of House Beautiful magazine's Top 100 American Designers.
Meanwhile, Jennifer has revealed she fired her manager after ordering her to be thin and blonde.The curvy star says she didn't want anyone to tell her how to look, so she sacked the man who told her to look like actress Heather Locklear.
She confessed to Britain's You magazine: "At the beginning, when I first started doing music and movies I think I had this attitude that I didn't have to be like anyone else.

Father and Son Originators Nabbed in $18 Million Fraud Scheme
Todd P. Graves, United States Attorney for the Western District of Missouri, announced that a Blue Springs, Mo., man and a Lee’s Summit, Mo., man were sentenced in federal court today for wire fraud and money laundering.

Anthony Edward Long, 35, of Blue Springs, and Mitchell David Medlin, 43, of Lee’s Summit, were sentenced in separate hearings before U.S. District Judge Ortrie D. Smith.

Anthony Long, who pleaded guilty to charges contained in two separate indictments, was sentenced to three years and three months in federal prison without parole. The court also ordered Anthony Long to pay $1,388,126 in restitution. Medlin was sentenced to five years of probation, including six months in a halfway house and six months of home detention. The court also ordered Medlin to pay $1,388,126 in restitution.

On April 21 and 22, 2005, respectively, Medlin and Anthony Long pleaded guilty to wire fraud and money laundering related to an $18 million mortgage fraud scheme. On June 23, 2005, Anthony Long also pleaded guilty in a separate and unrelated case to illegally possessing a firearm.

Anthony Long was engaged in the mortgage lending business with his father and codefendant Carl Long, 56, of Oak Grove, Mo., through Community HomeBanc and First Equity Banc, two Independence, Mo., companies that are no longer in business. Medlin was engaged in residential and light commercial construction, doing business as M&R Construction, LLC, in Lee’s Summit.

On April 21, 2005, Carl Long pleaded guilty to two counts of wire fraud and one count of money laundering. A sentencing hearing has been scheduled for Nov. 7, 2005.

“These defendants participated in a fraud scheme that involved 120 loans valued at nearly $18 million,” Graves said. “They induced individuals to obtain loans in order to purchase duplexes, and they caused lending institutions to approve those loans, all based on false and fraudulent information. The defendants profited from the fees and commissions resulting from those loans.”

From Dec. 4, 2000, to Aug. 20, 2003, the scheme used investment properties as a means to generate excess loan funds by obtaining inflated appraisals. Those inflated appraisals, Graves explained, were based on false rental fees, phony lease agreements, fabricated comparable listings and sales, and false statements in loan applications.

“This mortgage fraud largely involved three projects in Lee’s Summit and Independence,” Graves said, “the Westwind duplexes, the Westvale duplexes and the Viking Place duplexes.”

The specific count of wire fraud to which Anthony Long and Medlin pleaded guilty, Graves explained, involves a $111,754 wire transfer on May 18, 2005, from a Michigan bank to a Lee’s Summit bank for credit to the account of Metro One Title, in connection with the sale of property at the Westwind duplexes. M&R Construction purchased the property on that day for $85,000 from JTL Properties and sold it on the same day for $125,700 to family members of Medlin.

The money laundering charge, Graves explained, relates to financial transactions that occurred on the same day. Medlin received $80,008 from Metro One Title – proceeds from the $111,754 wire transfer – and deposited the funds to the account of M&R Construction. Medlin used those funds – derived from the wire fraud – to purchase a $27,211 cashier’s check payable to cash, which he delivered to Metro One Title for the down payment on two properties being purchased by family members of Medlin.

Anthony Long also admitted, in a separate and unrelated case, that he was in possession of a High Standard .22-caliber revolver on Oct. 19, 2004. Under federal law, Graves explained, it is illegal for anyone who is subject to a court order of protection to be in possession of any firearm or ammunition. On April 28, 2004, Anthony Long’s wife was granted a full order of protection by the Jackson County Circuit Court that restrained him from harassing, stalking and threatening her.

Application Volume Holds Steady

2005-10-06T15:23:00.000-07:00

How much would you pay for Britney Spears Bra ? be honest and answer me, how much ???
Aparently there are some people ready to pay 47000 dollars for that bra !!!!

Britney Spears stripped her charity auction of a jewel-encrusted bra, but still raised thousands of dollars for hurricane relief efforts.

Application Volume Holds Steady

The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending September 30. The Market Composite Index — a measure of mortgage loan application volume – was 713.5, a decrease of 1.1 percent on a seasonally adjusted basis from 721.2 one week earlier. On an unadjusted basis, the Index decreased 1.2 percent compared with the previous week and was down 1.8 percent compared with the same week one year earlier.
The seasonally-adjusted Purchase Index decreased by 1.9 percent to 473.8 from 483.1 the previous week whereas the Refinance Index increased by 0.1 percent to 2107.4 from 2106.6 one week earlier. Other seasonally adjusted index activity includes the Conventional Index, which decreased 1.8 percent to 1068.9 from 1088.8 the previous week, and the Government Index, which increased 11.4 percent to 120.3 from 108.0 the previous week.
The four week moving average for the seasonally-adjusted Market Index is down 1.9 percent to 741.9 from 756.4. The four week moving average is down 1.3 percent to 492.7 from 499.0 for the Purchase Index while this average is down 2.8 percent to 2191.6 from 2254.0 for the Refinance Index.
The refinance share of mortgage activity increased to 44.5 percent of total applications from 43.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 29.8 percent of total applications from 28.8 percent the previous week.
The average contract interest rate for 30-year fixed-rate mortgages increased to 5.94 percent from 5.85 percent on week earlier, with points increasing to 1.21 from 1.19 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages increased to 5.55 percent from 5.44 percent one week earlier, with points decreasing to 1.15 from 1.23 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for one-year ARMs increased to 5.13 percent from 5.02 percent one week earlier, with points decreasing to 0.98 from 1.01 (including the origination fee) for 80 percent LTV loans.
The difference between the average contract interest rate for 30-year fixed rate mortgages and for one-year ARM’s decreased to 0.81 basis points. This is the lowest spread since March 16, 2001.

Mortgage rates just shy of 6%

2005-10-05T11:30:00.000-07:00

Will Paris Give Back The Ring?

It's been just more than a week since heiress PARIS HILTON and her heir fiancé of five months PARIS LATSIS called off their wedding. But what everyone wants to know is: What will "girl Paris" do with her blinding, 24-carat engagement ring?
ET caught up with the famous blonde in question and her two girlfriends, KIMBERLY STEWART and BIJOU PHILLIPS, in Las Vegas over the weekend as they celebrated Body English's one year anniversary at the Hard Rock Hotel and Casino. There was no bling on her ring finger, but Paris did report on how she was doing: "Everything is amazing -- I love my life."
She then danced the night away on a table top!
"I don't know," Paris' mom KATHY HILTON tells our JANN CARL about the ring's fate. "I was with her at NICKY's birthday last night and she didn't have it on, but believe me, there's no fights about any ring or any house."
The twosome became engaged in the spring and Hilton first received a yellow diamond from her Greek shipping heir suitor, but reportedly wasn't thrilled with having a yellow diamond for an engagement ring. So the couple shopped around and decided on a 24-carat, multi-million dollar, emerald cut (white) sparkler.
But Hilton soon called off the wedding, feeling she didn't want to make a mistake and rush such a serious commitment.
"I'm sad to announce that I've called off my engagement," she told Us Weekly magazine after months of wedding-planning bliss. "Over the last couple months, I've realized that this is the right decision for me. We hope to remain the best of friends and I'll always love him. I hope people will respect my privacy during this emotional time."
But mom Kathy is certain they will remain the best of friends. "I know they both care about each other a great deal," she says. "She's holding up well."

Inflation fears, due in part to high energy costs, push the 30-year to highest rate since March.

The average rate on 30-year fixed-rate mortgages rose to 5.98 percent this week, up from last week's 5.91 percent, a Freddie Mac survey said.
In the year-ago period, the 30-year mortgage averaged 5.82 percent.
The average rate on 15-year fixed-rate mortgages rose to 5.54 percent, up from 5.48 percent the previous week. A year ago, the loan averaged 5.24 percent.
"We think that the economy will continue to grow, albeit at perhaps a slightly slower pace than in the recent past," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Mortgage rates will most likely continue to rise with the expansion of the economy."
Five-year adjustable-rate mortgages averaged 5.48 percent, compared to 5.44 percent the previous week. There is no data available for a year-to-year comparison because Freddie Mac only began tracking the 5-year loans this year.
One-year adjustable-rate mortgages averaged 4.77 percent, up slightly from 4.68 percent the week before. At this time last year, the one-year loan averaged 4.08 percent.

Vancouver is 'best place to live'

2005-10-04T20:58:00.000-07:00

Vancouver is the world's best place to live, a survey by the Economist Intelligence Unit (EIU) has found.
The EIU ranked 127 cities in terms of personal risk, infrastructure and the availability of goods and services.
Most of the cities that fell into the top "liveability" bracket were based in Western Europe and North America.
The worst places were Algiers in Algeria, and Port Moresby in Papua New Guinea because "many aspects of daily life present challenges", the EIU said.
Safe havens?
Canadian cities scored well, as did Austria's Vienna and Switzerland's Geneva, because they are not seen as targets for terror attacks.
The main uncertainty for people living in the those cities are climate-related, the EIU said.
"In the current global political climate, it is no surprise that the most desirable destinations are those with the lower perceived threat of terrorism," said Jon Copestake, editor of the EIU report.
The survey has produced a mixed picture of the world's cities. London was ranked in the 10th group, on a par with Dublin and Los Angeles, but one place below Manchester, four behind Berlin, five lower than Tokyo, and six off Helsinki, Frankfurt and Stockholm.
In Latin America, "no city manages to present ideal living conditions, neither do any fall into the category where extreme difficulties are faced", the EIU said.
Montevideo in Uruguay, Santiago in Chile and Buenos Aires in Argentina offer the region's best conditions. Bogota in Columbia and Caracas in Venezuela score the least favourably.
In Asia, cities in Japan, South Korea, Singapore, China and Taiwan all score well, as do Australia's main hubs.
Africa and the Middle East fare less well, with the EIU citing concerns about terror attacks, and economic and political instability.
Some of the worst performing cities include Harare in Zimbabwe and Lagos in Nigeria.

Mortgage Rate Probability: Sideways to Higher

2005-10-03T20:47:00.000-07:00

Jessica Alba is the most popular search of Yahoo search engine. (with looking at her picture I should say no wonder!!)

Nicolas Cage and Wife Have Baby Boy (Congrats...)

A friend of mine is good looking and charming, he hasn't been dating anyone for the last 5 weeks,he is trying so hard but no success!!! I don't know how come ,there are lots of broads out there but this guy doesn't have any chicks ! Anyone has any idea?

Rate Probability: Sideways to Higher
Last week ended with rates slightly higher. As the baseball playoffs start this week, unfortunately all the drama will not be on the diamond. In fact, this week might be the most volatile week of the year for the mortgage market.
Mortgage bonds have made a encore performance of July's downward price trend. (Which means rates have increased.) As amazing as it seems, at Friday's close bonds were priced at the exact amount that the trend reversed last month. Sounds good right? Well not necessarily.
This week boasts the biggie - The Nonfarm Payroll report. One problem, in the wake of Katrina and now Rita everyone expects the Nonfarm Payrolls for September to be a loss, and a huge one. Last estimates on Friday called for a loss of 172,000, but it seems this number is changing almost hourly and probably will until it's announced. Normally, a huge negative number would be all that is needed to reverse the upward trend in rates. However, since the loss of jobs comes complete with a blank check from Washington many investors are concerned that all the money being sent to the Gulf States will be a major inflationary spark, and they just might be right. Remember, inflation is the arch enemy of bond investors since inflation erodes profits, therefore investors demand higher rates.
So our advice for this week is hang on it might be a wild ride. And if you have any loans that are floating you should be ready with your lock ins ready and poised by the fax machine.

FC CHELSEA ,The Real Champion

2005-10-02T22:43:00.000-07:00

Angelina's Wish Fulfillment
Jolie visits cancer patient, hits the mall with Brad; Plus, the old Lindsay returns ... and stares down Hilary Duff? There are times when Angelina Jolie seems too good to be true. Case in point: This week, the Oscar winner took time out from her busy schedule of being a movie star, a UN Goodwill Ambassador, Maddox and Zahara's doting mom and Brad Pitt's doting whatever to make the dreams of a cancer-stricken 6-year-old boy come true.
Last month, we told you how Nicole Kidman paid a visit to a brave little guy (and fellow Aussie) named Dylan Hartung, who is in New York receiving treatment at Memorial Sloan-Kettering for a rare form of cancer known as neuroblastoma. During their bedside tête-à-tête, Dylan shared with Nicole his two wishes: to beat his disease and meet Angelina Jolie, whom he described as his "ultimate chicky babe."
The actress, class act that she is, said she'd see about arranging a meeting. Kidman kept her word and reached out to Angelina, who stopped by Manhattan's Ronald McDonald house on Tuesday afternoon and spent more than an hour chatting with "a very excited Dylan," his mom writes on his website.
"He spent the whole time being really relaxed and chatting to her at a million miles per hour, like he had known her forever," recounts Mrs. Hartung.
Topics covered included Australian sports, Angie's movies, Dylan's precious stone collection and his many hospital procedures (he's undergone 12 rounds of chemotherapy).
Not one to let an opportunity slip by, the charismatic tyke also expressed an interest in Angelina's many tattoos, and she was happy to give him a closer look (his mom says he was "impressed").
We've said it before and we'll say it again: That is one smart kid.
The pair later exchanged gifts, with Dylan presenting Jolie with a ring (he also gave one to Kidman) and a thank you note, and the do-gooder bombshell reciprocating with several toys (PlayStation games and Toys "R" Us gift certificates, reports People) and an autograph for his "Tomb Raider" poster ("To Dylan, with all my love and respect").

Today in Primere League , FC Chlesea showed the real power, Chelsea Hammered Champions league title winner for 2004, by 4 goals in Anfield Stadium .I personaly think Chelsea should be the winner for last year UEFA champions league, Mr.Betis ( Liverpool Manager) this was your team ??? Liverpool most of the game had nothing to say, they were playing in their own Staduim in front of 48000 fans.....how horrible is the best team of 80's , with Kenny Daglish , now is losing in Anfield!!! This was a shame !
I used to be Liverpool fan for years when I was a teenager. I was amazed the way Ian Rush, and later others such as Roby Fowler and some other great playes were playing, however since Chelsea is the best team now ,They have Blue Jersy and they have the best coach of the world, Jose Morino, I support them.Chelsea is the team of this century.VIVA Chelsea ...go go Chelsea

How To Tell If a Refinancing Is a Good Deal

2005-10-01T16:31:00.000-07:00

Jessica Simpson's Marriage Advice
The multitalented JESSICA SIMPSON, who is constantly fighting those ever-pesky divorce rumors, opens up about her happy relationship with hubby NICK LACHEY and even offers advice on how to keep the wedded bliss!
"I think you have to always remember, and he has to remember, that you do need a compromise, even though it's hard," she says.
She admits though, that sometimes strong personalities can get in the way of marital negotiations! "There's people with pride involved," she says. "You have to back down sometime -- just a little bit."
One thing the couple must now agree on is a new house. "We're looking," she says of finding other digs. "We haven't found anything yet but we're shopping around. We live so far out, we want to live somewhere where we can have a really nice view."
And now that "Newlyweds" has ended they both want a house that strangers haven't already seen the inside of! "People won't know where our toilet is when they walk in the house!" she says.
Jessica was out in New York City introducing her new line of beauty products called Sweet Kisses, named after her first album and available at Wal-Mart in October. "It's such a great product," she says. "Everything tastes really good and it's all good quality, great flavors."
They include Vanilla Cupcake, Strawberry Sorbet and Créme Brulée. So which does Nick love the best? "His favorite is vanilla," she reveals. "I think most men like vanilla."
The 'Dukes of Hazzard' actress says she decided to create the fun product because she was able to be hands-on, rather than just be a face or name on the package. "I ended up wanting to be a part of Dessert [makeup] because I could actually smell all the formulas, test everything out," she says.
And she's getting a huge kick out of being a part of the process. "I love this business," she says. "I love being creative in different ways and I am a girly girl so I love products. You can never have enough!"

How To Tell If a Refinancing Is a Good Deal
You are not paying anything out of pocket because they are adding upfront costs to the balance. I know this because if the balance of the new loan was the same as the balance of the old one, the payment should decline by $258 rather than $245. The smaller payment difference indicates that the new loan balance is approximately $4500 more than your current balance.
In other words, you are paying $4500 for the lower rate. The fact that you are borrowing the $4500 rather than paying it out of pocket does not change this at all.
While this deal is not quite as good as it looks at first glance, it isn't a loser. My refinance calculator indicates that you come out ahead if you retain the new mortgage more than 42 months. But does coming out ahead make it a "good deal"?
You define it that way, which is exactly how the solicitor wants you to define it. Probably he paid good money to buy a list of mortgage borrowers with large balances and interest rates above 7%. This is a valuable list precisely because it is easy to demonstrate significant savings to the client, and make a substantial profit at the same time. If the applicant is focused solely on the monthly payment, you can make even more by rolling upfront fees into the balance.
The problem with defining a "good deal" in terms of the savings from a refinance is that such savings depend on the rate on the old loan as well as the rate and upfront charges being offered on the new one. By this definition, if your old loan had a rate of 8.75%, the deal offered would be even better! This makes no sense. Your focus should be on whether or not you could do better dealing elsewhere.
A "good deal" is a new loan that is priced as well or better than any other new loan that you can find in the current market. This is the same definition you would use if you were shopping for an automobile, a computer or a mousetrap.
Using this definition, I don't know whether your deal is a good one or not. I don't know your credit score, how much equity you have in your property, whether it is your permanent residence, or what type of property it is. All these factors and more are relevant to what you could find in the marketplace if you shopped other loan providers. Until you do, you don't know whether you have a good deal, either.

Finding a 40-year mortgage

2005-09-30T19:22:00.000-07:00

Pitt, Aniston Selling Beverly Hills Estate

Jennifer Aniston and Brad Pitt, whose marriage officially ended this weekend, have put their $28 million mansion up for sale.
The couple bought the estate, which features a French Normandy-style home designed by Wallace Neff, for $13.5 million in 2001.
Both have relocated to Malibu. Pitt bought an $8 million mid-century home last spring. Aniston has been renting a $15 million home. They have kept the Hollywood Hills homes they each owned before they married.
Real estate agents who toured the estate described a screening room with 35mm equipment and black leather seats, Brazilian mahogany floors and an art studio with skylights, the Los Angeles Times reported Sunday.
The ground level of the home boasts a pub with glass walls opening to an outdoor fireplace, pool and spa. The grounds also feature a tennis court, the newspaper said. Pitt and Aniston separated in January after 4 1/2 years of marriage. She filed for divorce in March citing irreconcilable differences, and the divorce became final on Sunday. Pitt has since been romantically linked to Angelina Jolie.

Finding a 40-year mortgage
A Bankrate feature, "40-year mortgages join the mix" by Holden Lewis, identified Washington Mutual as one financial institution active in the 40-year market. The article also explained how Fannie Mae tested a 40-year mortgage loan program by working with credit unions, so you'll want to talk to your credit union.
The Credit Union National Asssociation, or CUNA, has a credit union locator that can help you find credit unions in your area, if you're not already a member of a credit union. A credit union limits its membership to people within their stated "field of membership" but it's likely that you are part of one or more fields through work, school, church or community affiliations and could join a credit union.
If you can't find a lender in your market that offers a 40-year mortgage, then it's time to talk to a mortgage broker. I recommend that you deal with an upfront mortgage broker, as described by Jack Guttentag in the Bankrate article, "Want your mortgage wholesale? Try an upfront broker."
I'm not sure a 40-year mortgage is the right approach to funding your home purchase, but if you are sure, these tips should put you in touch with a lender that can provide that mortgage to you.

Is prepayment penalty tax-deductible?

2005-09-29T22:12:00.000-07:00

Renee Has "Eye" on Horror

They had her at cornea transplant.
Renee Zellweger is setting her sights on a reunion with her Jerry Maguire costar Tom Cruise in The Eye.
Zellweger, last seen on the big screen opposite Russell Crowe in the critically praised but little-seen Depression-era boxing drama Cinderella Man, will star in Paramount's remake of the Pang brothers' Japanese horror flick The Eye, according to the trades, while Cruise is on board to produce.

Is prepayment penalty tax-deductible?

mortgage lender will sometimes charge a penalty for the early payoff of a loan. Usually, the penalty is only for an early payoff in the first few years of the loan. The penalty is considered an interest charge and is deductible in the same manner as the underlying mortgage interest. For example, if it's a home mortgage loan on your first or second home, the penalty would be deductible on Schedule A as home-mortgage interest. If the loan is for a rental property, then the interest would be deducted on Schedule E.

Similarly, points that had been deducted over the life of the loan would be deductible in the year that the underlying mortgage is paid off, with one exception: In a refinance, points paid must be deducted over the life of the new loan, while points paid on the purchase of a principal residence can be deducted upfront.
For example, in a refinance, if the new mortgage term is for 30 years and you paid $3,000 in points, you would claim an annual deduction of $100 for the points paid. If you refinance, sell or pay off the mortgage early, you can deduct the remainder of the points in that year. The one exception to the deduction would be if you refinance with the existing lender. In this case you would have to continue to amortize the remaining points over the life of the new loan, together with any points paid on the new refinance.

Construction Advances 2 Percent

2005-09-28T22:05:00.000-07:00

Paris and Paris Uncouple

Paris is no longer burning for Paris.
The made-for-the-tabloids romance of Paris Hilton and Paris Latsis has flamed out.
Following weeks of speculation that their relationship was on the fritz, Hilton gave a brief statement to Us Weekly Friday announcing she and Latsis have scuttled wedding plans.

Construction Advances 2 Percent
At a seasonally adjusted annual rate of $667.6 billion, new construction starts in August increased 2% compared to the previous month, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The upward push came from nonresidential building, which continued to strengthen after its weak volume earlier in the year. The construction industry's other two major sectors, residential building and nonbuilding construction, were essentially unchanged in August. During the first eight months of 2005, total construction on an unadjusted basis was reported at $434.4 billion, a 7% gain versus the same period a year ago.
The August statistics lifted the Dodge Index to 201 (1996=100), up from a revised 197 for July. In the second quarter of 2005, the Dodge Index averaged 191, while the first quarter averaged 181. "The early reading for the third quarter showed construction starts still on a rising trend, prior to September and Hurricanes Katrina and Rita," stated Robert A. Murray, vice president of economic affairs for McGraw-Hill Construction. "In the near term, that rising trend will be dampened by the disruption caused by Katrina and Rita, as the impacted areas in Louisiana, Texas, Mississippi, and Alabama focus on cleanup work. Going into next year, construction activity will get a boost from rebuilding efforts in the Gulf region. However, a major uncertainty for the broader U.S. construction market is what effect the hurricanes will have on the price and availability of building materials. Nonresidential building in recent months had picked up the pace, following its lackluster performance at the outset of 2005 related to the re-evaluation of projects in the face of higher costs. Further increases in the price of materials will make it more difficult for nonresidential building to maintain the improving trend that seemed to be taking hold during the spring and summer."
Nonresidential building in August rose 6% to $181.5 billion (annual rate). Gains were reported for most of the commercial and industrial structure types. The long-depressed manufacturing plant category soared 192%, due in large measure to the start of a $900 million semiconductor fabrication plant in Arizona. If this large project is excluded from the August data, the manufacturing plant category would still be up 24%, while total nonresidential building would be unchanged from the previous month (instead of the 6% increase). Hotel construction in August jumped 39%, led by the start of a $125 million hotel tower in Las Vegas NV and a $112 million hotel expansion in Seattle WA. The office building category registered a 10% advance, helped by the August start of the $165 million Federal Reserve Bank building in Kansas City MO and a $60 million corporate headquarters in Dallas TX. Store construction in August also climbed 10%; in contrast, warehouse construction for the month fell 17%.
On the institutional side of the nonresidential market, the educational building category grew 3%, as August included the start of eleven high school projects valued each at $30 million or greater. The public building category (detention facilities and courthouses) increased 17%, while both churches and amusement-related projects posted 3% gains. On the negative side, healthcare facilities dropped 27% from an exceptionally strong amount in July; even so, August did include the start of four large hospital projects in these locations: Downey CA ($150 million), Cincinnati OH ($93 million), Toledo OH ($90 million), and Bolingbrook IL ($85 million). New starts for transportation terminals were down 37% in August.
Residential building, at $381.2 billion (annual rate), was up 1% in August. Multifamily construction jumped 21%, aided by the start of several large apartment projects plus the continuation of this year's boom in condominium development. August included fourteen multifamily projects valued at $50 million or greater. Of the fourteen, five were located in New York City, four were located in Florida, two were located in Las Vegas NV, and the remaining three were located Jersey City NJ, Portland OR, and Philadelphia PA. Single family housing in August slipped 3%, retreating from a July that was the strongest month so far this year. Murray stated, "Single family housing remains on track to establish a new record high in 2005, but this market may now be starting to settle back from the robust activity shown earlier in the year." The cost of financing is still supportive -- the 30-year fixed mortgage rate averaged 5.8% in August, up only slightly from the 5.7% for July. "At the same time, the surge in homebuyer demand related to the sharp rise in home prices could now be nearing a peak," Murray noted, "and demand will likely be dampened by faltering consumer confidence in the face of higher energy costs." By region, August showed this pattern for residential building -- the Northeast, up 11%; the West, up 4%; the South Atlantic, up 2%; the Midwest, down 5%; and the South Central, down 7%.
Nonbuilding construction in August was reported at $104.9 billion (annual rate), basically steady with July. The combined total for the public works categories edged up 1%, while the smaller and often volatile electric utility category plunged 48%. Of the public works categories, water supply construction surged 80%, boosted by the start of two large projects in California -- a $198 million aqueduct pipeline in the San Diego area and a $185 million water treatment plant retrofit in Riverside-San Bernardino. River/harbor development work grew 24% in August, helped by the start of a $54 million project to reconstruct bulkheads on the East River in New York City. Growth was also shown for highways and bridges, up 13% in August. Large transportation-related projects reaching the start stage included a $116 million highway reconstruction in Florida and a $108 million bridge replacement in West Virginia. Murray added, "With the August enactment of the new federal transportation bill, highway and bridge construction should see more expansion towards the end of 2005 and into 2006. Reconstruction in the Gulf region will also help the highway and bridge volume in coming months." On the negative side, sewer construction in August fell 59% from July's elevated amount.
The 7% increase for total construction during the first eight months of 2005, compared to last year, was the result of the following performance by major sector -- residential building, up 12%; nonbuilding construction, up 7%; and nonresidential building, down 1%. While nonresidential building over the January-August period was still behind last year, the gap in the year-to-date statistics has narrowed considerably during the most recent three months. By geography, total construction in the January-August period of 2005 reflected this pattern - the South Atlantic, up 10%; the West and South Central, each up 9%; the Northeast, up 8%; and the Midwest, unchanged from last year.
About McGraw-Hill Construction
McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP - News), connects people, projects and products across the design and construction industry. From project and product information to industry news, trends and forecasts, the Company provides industry players the tools, resources and applications that help them save time, money, and energy, especially through the new McGraw-Hill Construction Network. Backed by the power of Engineering News-Record (ENR), Dodge, Sweets, Architectural Record, MyHouse, and 12 regional publications, McGraw-Hill Construction serves more than one million customers within the $4 trillion global construction community. For more information, visit www.construction.com.
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AUGUST 2005 CONSTRUCTION STARTS
MONTHLY SUMMARY OF CONSTRUCTION STARTS
Prepared by McGraw-Hill Construction Research & Analytics
MONTHLY CONSTRUCTION STARTS
Seasonally Adjusted Annual Rates, In Millions of Dollars
August 2005 July 2005 % Change
Nonresidential Building $181,505 $170,827 +6
Residential Building 381,179 378,390 +1
Nonbuilding Construction 104,921 105,236 --
Total Construction $667,605 $654,453 +2
THE DODGE INDEX
(1996=100, Seasonally Adjusted)
August 2005.................201
July 2005...................197
YEAR-TO-DATE CONSTRUCTION STARTS
Unadjusted Totals, In Millions of Dollars
8 Mos. 2005 8 Mos. 2004 % Change
Nonresidential Building $111,934 $113,392 -1
Residential Building 252,886 225,786 +12
Nonbuilding Construction 69,627 65,194 +7
Total Construction $434,447 $404,372 +7

Reality check: Before you play Landlord

2005-09-27T18:27:00.000-07:00

Pamela Anderson Seeks Restraining Order

Reality check: Before you play Landlord
more to owning property than collecting rentals. Here's some of the downside.

Real-estate investing is big business...and getting bigger.
Second-home purchases, mostly for investment purposes, last year accounted for more than a third of all single-family home sales in the United States, according to the National Association of Realtors.
Throw in sales of duplexes, apartment houses, and condos for investment purposes and you get some idea how many people want to play landlord.
And why not? Not only do you rake in rent money every month, you can also reap profits from soaring housing prices.
As any landlord will tell you, however, it's not as easy as it looks.
Erwin Jackson, who owns about 300 units in the Florida panhandle, has done well swooping in and buying from disillusioned landlords. "The best deals I ever got were from new landlords who six months in realized," 'This is a lot more work than I thought.'"
Ken McElroy, a founder of MC Companies in Scottsdale, Arizona and author of a bestseller, "The ABCs of Real Estate Investing," said too many buyers of rental properties look at is as an investment, not as a business. "But it's both -- the business part takes much more time than they imagined."
McElroy said the only properties he buys anymore are mismanaged ones, and there are plenty of those. The prices they command are low enough that he can spend some money to fix them up and turn them around -- and still rent them at a profit.
The biggest single mistake new landlords make, according to McElroy, "Is who they put in the asset. That's where the problems come from."
Keep up the cash flow
The pressure to fill vacancies can be intense. Matthew Martinez, a landlord and real estate investor from Massachusetts who has a book coming out in a few months entitled, "Two Years to a Million in Real Estate," said, "Any vacancy is an attack on your financial prosperity. When I think about the money I lose every day I have a vacancy, I feel sick to my stomach."
Landlords have to screen renters carefully. "We run a credit check, a criminal background check, and now a sex offender check on every applicant," said McElroy. In addition to making sure tenants will pay their rent, there are liability issues involved. Landlords can be sued if they negligently rent to criminals.
These checks, however, are far from foolproof. "You can do a great background check, even have a perfectly wonderful tenant for a year or two," said Martinez, "and still, all of a sudden, get in trouble."
Martinez rented a Boston apartment to a woman who, after many months living there, began to "date the wrong person," he said. "She started using drugs, then she started dealing drugs, although I couldn't prove that."
Evicting her took five months, and she paid no rent that entire time. And if he hadn't gotten her out, it could have caused more problems. What if another tenant had been injured because of the criminal activity?
Lawsuits of all stripes prey on landlords' minds. Jackson said his company provides many services to his renters just to avoid legal hassles.
"Early on," he said, "one of my tenants borrowed my lawnmower. He hit a piece of metal in the grass. His roommate was sunning himself nearby and the metal flew up and opened a gash in his forehead. The roommate sued me. Now we do all the lawns, replace fluorescent light, repair the windows; I don't want tenants doing anything."
Day by day
Besides these acute problems, there's the everyday hassle of managing the paperwork, overseeing contractors, paying the ever-increasing taxes, collecting rents, and looking after the properties.
Getting called in the middle of the night to fix someone's clogged toilet is not for everyone.
Even when you can afford to let others handle the day-to-day headaches, there are other rough seas to navigate.
Gary Cherry farms out the management duties of the three properties in Tallahassee, Florida he owns, two small and one medium-sized multi-family sites with a total of 75 units.
The largest, a 66-apartment building, was the latest purchase and has proven the most difficult. "The building had a lot more problems than I thought," said Cherry. "Afterwards, you scratch your head and say, 'Why didn't I notice that.' You have to look the structure over very carefully."
Doing the math
Buyers of investment properties must make dispassionate assessments of the benefit they'll derive from their investments and the downside risk involved. Landlords can't afford to fall in love with a property like an owner of a primary residence can. It boils down to a numbers game: How much cash will flow from the investment? For many landlords, cash flow is essential because they can't really count on housing prices to continue to soar.
One key calculation is the "cap rate," annual rents you can collect versus the property value.
For a property that costs $500,000 dollars and generates $3,300 per month in rent, the cap rate would be nearly 8 percent ($39,600 divided by $500,000).
"Anyone who gets less than 8 percent cap rate is going to be out-of-pocket every month," said Martinez.
That's because out of that $39,600 in rents, the landlord must pay the mortgage (at recent rates of about 5 percent for a $400,000 loan, that would come to about $3,167 a month) and pay for repairs as well. At 8 percent, even just routine repairs and replacements can wipe out your profits.
Then too, if a landlord finds himself spending for repairs of structural defects that he didn't identify before the purchase and didn't plan for, it can really wreck his budget.
As Erwin Jackson said, "Everybody wants to try it and I would encourage them to do so. Just make sure they have my phone number so they can get in touch when they're ready to sell."

Greenspan: Most Homeowners in Good Shape

2005-09-26T16:00:00.000-07:00

Demi & Ashton Get Hitched
Sources have confirmed to ET that Hollywood couple DEMI MOORE and ASHTON KUTCHER wed in a secret ceremony Saturday night at a private home in Beverly Hills.
The two were married in a last-minute, traditional Kabbalah wedding, with close to 100 guests present, including Demi's ex BRUCE WILLIS, their three daughters and LUCY LIU.
Us magazine's editor-in-chief JANICE MIN told ET that Bruce acted as an unofficial "host" of the evening, and guests found out about the ceremony not more than 24 hours before! "We know that on Friday, the day before the wedding, guests were told to come over for dinner -- only a handful were told it was a wedding. US has confirmed the reception occurred at Demi's house."
Min also revealed that the wedding bands were done by celeb jeweler NEIL LANE.
Ashton's "That '70s Show" co-star WILMER VALDERRAMA and SOLEIL MOON FRYE were also in attendance. And sources tell ET that Demi's stylist was out looking for an off-the-rack dress for the star last week, while Ashton's people were frantically calling designers desperately looking for a white suit.
The now 42-year-old Demi and 27-year-old Ashton have been inseparable since they were introduced to each other through their mutual friend, actress SARA FOSTER, back in 2003. They made their first public outing together in June of that year at the 'Charlie's Angels: Full Throttle' premiere, where they arrived on the red carpet with Demi's ex, Bruce, and family in tow.
Ashton had previously been dating his 'Just Married' co-star BRITTANY MURPHY. The two split amicably in April 2003 and soon the headlines were filled with Ashton and Demi.
Wedding rumors have been floating ever since he appeared overcome with emotion for his new lady love in April on "The Oprah Winfrey Show" when he tearfully revealed, "I love being with her. She makes me a better person."
The "Punk'd" king is close with Demi's kids, RUMER, SCOUT and TALLULAH, who have reportedly moved with their mom from Idaho to a Hollywood Hills mansion together.
He even gets along with Bruce. The 'Sin City' star has agreed to make a special guest appearance on an upcoming episode of "That '70s Show." He'll play Vic, a fast-talking security head at Chicago's Playboy Club, who interviews Kutcher's character, Kelso, for a security gig at the club.

US :May Tap Petroleum Reserve
While US government would release some of it's reserved oil, the oil price was not rised as it was expected ,nearly 66 dollars a barrel, today,Mortgage interest rates gone up (Bad for ones didn't do refinance) Stock Market stayed some how positive.

Greenspan: Most Homeowners in Good Shape
Most Homeowners Can Weather a Shock if Prices Drop, Greenspan Says

For the third consecutive year the rich got richer: The collective net worth of the nation's wealthiest climbed $125 billion, to $1.13 trillion. Surging real estate and oil prices drove up fortunes and paved the way for 33 new people to join the list.
Bill Gates with over 51 billion dollar is still on top. Check www.forbes.com for complete list.

A Car Guide for the Young, Fabulous and Broke

ACURA RL is a State of Art ......

2005-09-25T21:22:00.000-07:00

FC Chelsea won in their 7th game in English premier league, What a phenomenal team,,,,Frank Lampard Scored 2 goals to keep Jose Morino's men on top.
Ronaldo scored 2 goals along with Guti's goal to get some pressure off for Loxamborgo,in Spain.
The Question is Mr.Loxamborgo, what will happen if for any reason Ronaldo and Zidan wouldn't be able to play for a game or more? are you gonna be hammered again ?You idiot take this warning serious,change your tactics and push harder for some oldie snub players you have in team.

Another Question!!!!
I'm thinking of getting breast implants. I'm a 34B now but I want a full C cup. I just feel like my clothes would all fit better, and that I'd really like them...My b/f says he loves me the way I am but wouldn't necessarily tell me NOT to do it...What do you guys think? I'm not insecure, I don't think I NEED them to feel good, it is just something I'm starting to think I may want.

I'm guessing that your b/f secretly hopes that you will, but he won't tell you.
Might not be a bad idea. I'd have to see yours to tell you what I think. Considering you are only moving up one cup size it will probably look more natural than if you went from an A to a D. Fair warning though, the Doctor will probably try and talk you into a couple other surgeries like a tummy tuck and maybe a lypo. They are really good at their job of getting return clients.but if you are scared to do it or you concern money wise ,Try Vassarette brand bras,you can find them in Walmart or Target, style is 'silken heather' underwire,,the number is 78-205 if you look at their website.Let me know if you can't find

Okay let's get back to business now, Yesterday I went to Acura dealership for a test drive on TL.The Salesperson got me RL models, and we did a test drive, This car is a state of ART ,it's a firm, comfortable and classy car, you would enjoy having a toy like this. The Navigation system is No one , There is only 2 problems ,
1-It's only a few pennies over my 10K budget, this TL goes for 50K !!!
2-If I ever buy a car like this ,I would not get off of my car, I would not sit behind my desk anymore,

Hope you all had a great weekend!

Ladies and Gentelmen let's find out more about MAYRA

2005-09-24T14:28:00.000-07:00

Mayra Veronica
why we like her?
Voluptuous and incredibly sexy, Mayra Veronica may very well be the sexiest Latina we've ever laid eyes on. Her amazing body and record-breaking booty are a one-two combo that we simply cannot ignore. Oh, and we can't forget that we like her work as an actress too.
why is she famous?
Mayra Veronica is a star of Hispanic television in America, a regular face on Univision's Don Francisco presenta. In addition to several other Univision commitments, Veronica has been featured in ad campaigns for Coca-Cola, L'OrÃÂ©al and Burger King. Her beautiful mug has been pasted in countless magazines, including FHM, and her future in film looks rosy after her role in the indie flick Tumbe.

Someone emailed me asking a question, if you really have a question come up front and introduce yourself, you do not need to ask as anonymous !!!!
Anyhow this is the question ,
I am 22 yo lady and I'm sleeping with my boss. He is married and has two kids. What do you think of me?
well I think you are a whore, you are a bitch, horrible slut, if your man does it to you and your kids, what would you think??I think your a slut with no respect for other women and their families. I think it's a trashy, disrespectful, unclassy ...
Is he paying you for your services? If so, I wouldn't worry about it. The business world is hard for women. You have the right to earn some bucks too.
If you asking me what do I think about him ? He's a pig.

People Please don't ask me such this questions, I am not interested of reading or answering questions like this.Good luck

A House That Costs Nothing to Run

2005-09-23T11:20:00.000-07:00

This picture has been send by a very special friend.Okay let me tell you guys his name is .....well, As a matter of fact If my granny would lived in Van,I should question her, if this Mr.Pain in the A.... has been with her or not!!!! well he is well stablished good looking charming guy and girls want him, I dont see anything would be wrong with this!

A House That Costs Nothing to Run
Meet the Moomaws. Their goal is to build a retirement home in New England that will produce as much electricity as it consumes. Ask the average person to describe their dream retirement home, and what will you hear? Visions of high ceilings, gourmet kitchens, an expansive yard, maybe even a Jacuzzi. Bill and Margot Moomaw, a couple from Massachusetts, have a totally different kind of dream: They want a retirement home so efficient that it actually produces as much electricity as it consumes.Now, three-or-so years away from retirement, Bill, a 67-year-old professor of international environmental policy at Tufts University, and his wife, 64, are about to break ground on a painstakingly planned low-energy dream home in Williamstown, in Western Massachusetts. While the house will employ a lot of special technology, ranging from solar panels to a geothermal heat pump, the first rule is that their future residence house must look and feel "normal."MODERN LIVING. The architecture will match turn-of-the-century New England-style houses in the area. And the home will have a TV, computers, a washer/dryer, and other typical amenities.
"We're not going into a cave and using candles," says Bill. "We want to show that you can [be energy-efficient] by buying common brands" adds Margot. "You just have to do careful shopping." The Moomaws couldn't have picked a better time to reduce the amount of outside energy they consume. Heating oil and natural gas prices have reached record highs in recent weeks, as supply lines and refineries have been shut down by Hurricane Katrina and increasing global demand continues to put a pinch on supply. No less a consideration, U.S. power grids are increasingly coming under strain. "THE LEARNING CURVE." Building the home will be no small task. The couple, who have two children in their thirties, have spent the past year calculating all of the details, translating each and every component of their home life into a complex energy-arithmetic problem. Starting with how much power they can create with the 63 solar panels they'll be installing on the roof, they've examined exactly what level of insulation the house will need, the precise position where it must sit on the lot to get optimal heat from sunlight in the winter, and even the right model of dishwasher and brand of light bulbs. Energy-efficient living isn't a new interest for the Moomaws. The couple's first venture into the area was during another period of skyrocketing oil prices, in 1973. Back then, with Bill a young member of the chemistry faculty at Williams College in Williamstown, Mass., the couple started making adjustments to their house to make it less dependent on oil in order to both help the environment and save money. Their project started with window replacements and new insulation. Four years later, they bought a solar-powered water heater. "We've been on the learning curve since then" says Margot, "and have always made incremental improvements" on subsequent homes. STILL ON THE GRID. This time they want a real challenge. When they met with a local engineer and architect to talk about their plans, the first proposal was to make their new home an Energy Star house -- a special classification awarded by the U.S. Environmental Protection Agency for homes that use 30% less energy than the average for similar size residences. That classification can entitle homeowners to special perks and rebates from their utility, but the Moomaws weren't satisfied. "We said, 'Well, that's pretty good,'" recalls Margot. "But we thought we could easily get to just 50% to 70% of normal energy use. [So we made] the stretch goal a 100% reduction." To realize this won't be as easy as just installing a bunch of solar panels and cutting themselves off from the power grid. New England isn't sunny enough for that, and batteries used to store solar power can be expensive and inefficient, says Bill. BUYING -- AND SELLING. So the couple plans to engage in a seasonal give-and-take with the local utility. During the winter months, when days are short and direct sunlight is scarce, they'll get most of their energy from the local power grid. In the sunny summer, the Moomaw's 63 solar panels will collect and store more than enough energy for their needs, and the couple will sell the excess back to the local utility. At the end of the year, they hope, the total net energy consumption will add up to zero. If they get off to a rough start, the Moomaws will be able to rely on the grid, so they won't be left in the dark. "For Margot and me, [the goals are] to be free of fossil fuels and build a house that recognizes the environmental and resource constraints we're all facing," says Bill. But then, he adds, "not having to pay any energy bills in this day and age also has its satisfactions."

Refinance Application Volume Up

2005-09-22T14:29:00.000-07:00

The most beautiful woman of history, The Prettiest lady of entire world,Sexiest woman of earth Angelina Jolie and Brad pitt are planning to get married at George Clooney's villa in Italy, it's news to him.
"People have said they were going to get married at my house," Clooney told AP Radio in a recent interview. "Well, I would know, and I can tell you there's not going to be a secret wedding."
Tabloids have reported that Pitt and Jolie were planning to wed in a private ceremony at Clooney's villa. While magazines have published numerous photos of the couple together, neither has confirmed they are dating and Clooney wouldn't either.

Real Madrid won today after couple of games losing!!! Raul scored 2 goals to give hope to Real Madrid with their wining of 3-1 against Atletico Bilbaue.......
Warning Mr.Loxamborgo kiss Raul's Golden feet, for saving you today!
You are full of it, and you know better than everyone else what I am talking about!!! Learn from Jose Morino.

Refinance Application Volume Up
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending September 16. The Market Composite Index — a measure of mortgage loan application volume – was 772.2, an increase of 1.5 percent on a seasonally adjusted basis from 760.6 one week earlier. On an unadjusted basis, the Index increased 11.9 percent compared with the previous week and was up 12.0 percent compared with the same week one year earlier.
The seasonally-adjusted Purchase Index decreased by 2.6 percent to 500.3 from 513.4 the previous week whereas the Refinance Index increased by 7.0 percent to 2353.7 from 2198.7 one week earlier. Other seasonally adjusted index activity includes the Conventional Index, which increased 1.5 percent to 1160.5 from 1142.8 the previous week, and the Government Index, which increased 1.1 percent to 124.1 from 122.7 the previous week.
The four week moving average for the seasonally-adjusted Market Index is up 0.5 percent to 756.7 from 752.7. The four week moving average is up 0.6 percent to 495.9 from 492.9 for the Purchase Index while this average is up 0.4 percent to 2274.3 from 2264.4 for the Refinance Index.
The refinance share of mortgage activity increased to 45.6 percent of total applications from 42.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 29.8 percent of total applications from 28.2 percent the previous week.
The average contract interest rate for 30-year fixed-rate mortgages increased to 5.81 percent from 5.72 percent on week earlier, with points increasing to 1.21 from 1.18 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages increased to 5.38 percent from 5.29 percent one week earlier, with points decreasing to 1.25 from 1.31 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for one-year ARMs increased to 4.94 percent from 4.82 percent one week earlier, with points decreasing to 1.00 from 1.04 (including the origination fee) for 80 percent LTV loans.

Realtors cry foul

2005-09-21T16:22:00.000-07:00

While Barcelona tied with Valencia (2-2) ,AC Milan and Juventus beside Inter Milan won in Italian Seri A.
In Bundesliga Hamburg won 2-1 against Stutgart.

Please read what this fool (Valeri Luxemburgo) says;
Luxemburgo: "I see a team who are enthusiastic and optimistic about turning around this bad spell" !!!!
Just Shut up you stupid, Your team has the most expensive and most talanted players in the world, You Spent 60 million euros for new transfers, what the hell you need to win against some third class teams, Your team and your tactics and your strategies sucksssssss in one word.
All Real fans please send this idiot to some coaching classes,This loser is not qualified to seat in that bench.Kick him out of Santiego Bernabeu.

Realtors cry foul
Real-estate brokers feel they are under unjustified attack.

These days, it seems like open season on real-estate brokers...and the brokers aren't happy about it.
With more than 1.2 million members of the National Association of Realtors (NAR), that's a lot of frustration.
"I just feel like we're taking it on the chin again," said Robert Ellis, a Coldwell Banker broker in Florida.
Critics of brokers say the industry needs to be more competitive, paving the way for lower commissions than the standard 6 percent most realtors charge.
As real-estate prices have soared, so have commissions, with Americans paying out more than $70 billion last year.
A recent suit brought by the Department of Justice challenges a policy by NAR that governs individual broker's ability to "opt out" of broadly displaying their listings on the Internet.
This summer, the Justice Dept. went after rules in Kentucky and South Dakota that limited brokers' ability to lower their fees. The Justice Dept. won those cases.
For many brokers, the latest "opt-out" suit is much ado about nothing. "I don't know a single agent who will not allow their listings to be shown on other Web sites," said Dan Haynes, who runs a RE/MAX agency in Fenton, Missouri.
Cheryl Ramos, another Missouri broker, said, "Opting out is not to our advantage or the sellers'."
Ellis said he knows of no Florida broker who chooses to opt-out and blames the housing boom for bringing extra attention on the industry. "The real-estate business is so hot that the media is focused on it," he said.
Spokesman Steve Cook of NAR said that the association does not discourage competition. A new study by Penn State professor Steve Sawyer backs that up. "Selling real estate is intensely competitive. Consumers have more information, they demand more services, and they have more agents and business models to choose from than ever before," wrote Sawyer in the report.
Brave new real estate world
Still, it's tough to argue that the industry is as competitive as it could be.
In other businesses, such as travel-booking and stock trading, fees dropped precipitously after the Internet spawned new business models.
Said Bruce Hahn, chairman of the American Homeowners Grassroots Alliance: "Traditional, full-service brokers are trying desperately to hold onto their full commissions in a changing world."
Full-service real-estate brokers do cooperate with each other. Those with buyers connect them to brokers with sellers. They then split the commission.
But buyers' agents sometimes -- it is said -- "boycott" discount-brokers' listings. As one full-service broker in Florida puts it, "Why would I want to sell that property over another that pays me full commission?"
And listing agents might refuse to show the homes they represent to buyers represented by discount brokers.
The net effect is that commission rates have hardly budged. "Why aren't more brokers lowering their rates to capture more of that business?" asks Hahn.
Follow the money
Haynes, however, says full-service brokers are well worth their price. "I see myself as no different from a doctor or attorney -- I have my client's interest at heart," he said.
Where do full-service brokers claim to have an edge. Their list includes: pricing the home right the first time; more extensive marketing; qualifying buyers before contracts are signed; and negotiating prices.
Brokers also say that the public doesn't appreciate that only a fraction of the commission goes into a broker's pocket.
Initially, it's split between the buyer's and the seller's agents. Then it's split again between the agent and the parent agency. Throw in expenses -- administrative and operating costs, licensing, fees, and, especially, advertising and marketing -- and the profits drop.
Remember, too, if a property doesn't sell, the agent gets stuck with the expenses. Clients pay commissions only on completed sales.
Despite the difficulties, brokers have enjoyed a good run lately. The last figures available from NAR show that median gross personal income for all its members, which includes both brokers (median earnings $65,300) and sales agents ($39,300), hit $52,200 in 2002, up 10 percent from two years earlier. Earnings have probably moved up with home prices since then.
The highest-earning brokers were the most experienced; those with 26 years or more in the business had median earnings of nearly $70,900 in 2002. Those with less than five years' experience made almost 25 percent less, about $53,400.
Brokers say they're worth it and complain that discount brokers do less for clients and lack professionalism. "I don't call them discount brokers," says Ellis, "I call them limited-service brokers."
Even so, Ellis says he fully cooperates with them. Brokers who don't, "are not servicing the customer as well as they could," he said.
"The best way to get top dollar is to make as many people aware of the sale as possible," says Ellis. "It's like an auction, the more bidders the better the price."

Can Microsoft Land AOL?

2005-09-20T16:13:00.000-07:00

LINDSAY LOHAN stepped out from head to toe in chic CHANEL Tuesday night, as she was honored with the Chanel spotlight award for emerging talent at the Premiere magazine's 12th Annual Premiere Women in Hollywood event at the Beverly Hilton hotel.

An MSN-AOL linkup could benefit both sides. But Gates & Co., eager to catch Net giant Google, may have the most to gain from teaming up.
It's long been part of AOL lore that in 1993, Microsoft Chairman Bill Gates made a threat to AOL's then-CEO Steve Case. At one of their first meetings, the software billionaire cavalierly said to Case, struggling then to build the online service: "I can buy 20% of you or I can buy all of you."
Now, more than a decade later, that scenario may finally come about. Since January of this year, AOL, now part of Time Warner, and Microsoft's MSN online service have been in talks about combining operations, according to sources close to the companies.
Microsoft has used the overtures to push AOL to use MSN Search instead of Google, while AOL wants to combine the companies' ad-sales staffs to crank up pressure on arch-rival Yahoo!.
"RISKY FOR AOL." If the two team up, the resulting behemoth -- with more than 200 million unique Web visitors a month -- would realign the top players in a market now dominated by Yahoo and Google. "AOL and MSN have felt left behind," says Jeff Lanctot, a vice-president at interactive agency Razorfish/Avenue A, a division of Seattle-based aQuantive. "The combination of AOL and MSN would turn the industry on its ear and make us reassess the assumptions of the power players."
But there's no guarantee that the talks, momentarily suspended, will end in an agreement. For one, a hookup "is risky for AOL unless there's a big payoff," says David Card, Internet analyst at Jupiter Research.
Microsoft, which made the first approach, seems to have more to gain. By wresting AOL's large audience in one fell swoop, Microsoft has a chance to unseat Google as top dog in the lucrative paid-search business.
Today, AOL uses Google as its search engine, keeping some 80% of the revenue that those searches yield. In the second quarter, about one-tenth of AOL's $320 million in ad sales came from paid search. It could lose a key revenue source if the relatively untested MSN Search is unable to match Google's proven track record in generating sales and attracting loyal users.
WHICH GAME PLAN? Meanwhile, AOL is at a pivotal juncture in a turnaround. As paying subscribers to its online service continue to defect, the Time Warner unit is now betting its future on growth in online-ad revenue. This summer, it relaunched a beefed-up aol.com Web site. With the new aol.com as an anchor, AOL hopes to attract an ever-bigger audience -- and more advertisers -- to all of its Web sites, including AIM, MapQuest, ICQ, AOL Music, and the like. Today, those sites boast 112 million unique monthly visitors, according to comScore Media Metrix.
AOL hopes that by combining ad sales over AOL Web properties and MSN, which attracts about 114 million unique monthly visitors, it would top Yahoo, with 121 million unique monthly visitors. But even without such a move, AOL is expected to increase ad revenues to $1.35 billion this year, vs. $1 billion last year, according to Internet analyst Richard Greenfield of Fulcrum Global Partners.
If Microsoft needs AOL more than the reverse, it's up to Time Warner CEO Richard Parsons to command a princely sum for his division or take a pass. Indeed, Parsons is the wild card. While he has professed confidence in AOL's new Web strategy, he may ultimately decide that spinning out a part of the troublesome online unit may help jack up a stock price that has been languishing ever since AOL merged with Time Warner in 2001. If that's the case, Gates' prophecy may come true.

Fight erupts over online real estate listings

2005-09-19T15:41:00.000-07:00

Fans Boo Madonna and Husband After Snub

Fans booed Madonna and her filmmaker husband, Guy Ritchie, at the London premiere of his new movie, "Revolver," on Tuesday after the couple walked past most of the crowd without signing autographs.

Fight erupts over online real estate listings

When you fish the Web for a house to buy, are you casting a wide net or merely dangling a hook? It's hard to know, and the National Association of Realtors has adopted a policy that keeps it that way.
The Department of Justice's antitrust division has sued the Realtors over the policy, calling it anticompetitive. The Realtors counter that the rule protects their clients' privacy.
This complex issue exerts a multitude of effects on buyers, sellers, brokers and the agents who work for them. The impact on buyers can be boiled down to this: "You couldn't go anywhere online and see all the homes that are available," says Patrick Lashinsky, marketing director for ZipRealty, a discount online broker based in Emeryville, Calif. It makes home buyers "beholden to the agent to see that property," he says -- just as in the days before the Web.
Internet-based real estate companies say you should be able to conduct an online search of all of the properties in the local Multiple Listing Service. The Justice Department agrees. The National Association of Realtors says listings shouldn't appear on the Web if home sellers and their brokers don't want them there, for any reason.
MLS meets the WebA Multiple Listing Service, or MLS, is a database of homes for sale. There are about 850 local MLSs. Only Realtors can add listings to the database, so it doesn't include homes for sale by owner. For decades, consumers couldn't search the MLS; Realtors did it for them. Along came the Web, and a new business model was born: discount real estate brokers who gave their clients password-protected access to the local MLS on the Internet.
Web brokers encourage home buyers to research homes on the Internet and drive by the properties they're interested in. This is intended to cut down on agents' workloads and reduce costs. If the client is still interested in a house after driving by, the buyer's agent arranges a visit. At settlement, the buyer's agent collects the commission and returns a portion of it to the buyer in the form of a check or a contribution toward closing costs.
According to the Justice Department's complaint, traditional brick-and-mortar brokers worry that "these Internet sites would inevitably place downward pressure on brokers' commission rates." The Realtors responded with two sets of rules governing Web listings. One policy would have allowed brokers to withhold their listings from selected rivals' Web sites and allow them on approved competitors' Web sites. The feds threatened to sue on antitrust grounds, and the two sides negotiated for a few months.
Opting out, opting inOn Sept. 8, the Realtors announced yet another set of rules called "Internet Listing Display," or ILD. The ILD policy doesn't let brokers selectively withhold listings from competitors that they dislike. But it does allow brokers to withhold listings from all rivals' Web sites. This rule, called "blanket opt-out," has been in effect for three years, without a peep from the Justice Department. But the ILD policy adds a twist: Even when a broker uses the blanket opt-out, a seller can ask to have a home listed on competitors' Web sites. That's called "selective opt-in."
Hours after the Realtors announced the new policy, the Justice Department filed the antitrust lawsuit in a U.S. district court in Chicago, where the Realtors association is based.
"NAR's revised policies continue to discriminate against brokers who use the Internet to more-efficiently and cost-effectively serve home sellers and buyers," the government alleges in its lawsuit, explaining that "the opt-out provisions provide brokers an effective tool to individually, or collectively, punish aggressive competition by any Internet-based broker."
Privacy issueThe Realtors say they're not punishing anyone; they're protecting home sellers from prying eyes. Listings still appear on the MLS, just not necessarily on Web sites that consumers have access to. The ILD policy "maintains the right of a homeowner not to have a property displayed, and to have it listed on the MLS," says Steve Cook, spokesman for the association. "A lot of people are concerned about privacy, about security." He says rich people and celebrities don't want information about their homes all over the Web, and neither do some elderly homeowners or parents of young children.
You hear a snort of derision when you run that argument past Lashinsky of ZipRealty. "What privacy is that?" he says, explaining that even if a broker opts out, the listing will show up on Realtor.com, which is partly owned by the association.
Sellers give several reasons for not wanting their listings displayed online, says Diane Saatchi, senior vice president of the Long Island, N.Y., office of the Corcoran Group, a traditional broker: The property might be in poor condition and pictures would turn off potential buyers, the seller might want to keep the sale and price quiet because of estate or divorce issues, or there might be conflicts with neighbors.
These issues arise fairly frequently, Saatchi says, for example "in cases where the house was left to one sibling, and the other siblings are really annoyed that they don't have a say in it. The sibling who sells it doesn't want the others to know." She knows of a case where next-door neighbors thought the asking price was too low, so they tried to undermine the sale by encouraging their dogs to bark while the house was being shown.
And, she says, some sellers simply want privacy because that's the way they are. The National Association of Realtors' hands are tied, she says: Brokers and agents have a duty to follow their clients' instructions, and if that means excessive privacy, so be it.
Threat to Internet brokersPrivacy isn't the issue, say executives with Internet brokerages: If just a few brick-and-mortar brokers bar listings from appearing on competitors' Web sites, home seekers won't see the point in searching for homes online. Buyers will want to look for houses the old-fashioned way: by having their agents search the MLS database. That removes the cost advantage of Internet brokers -- indeed, it removes their reason for existence.
Cook says few MLS listings are withheld from Web sites, and that for-sale-by-owner properties are a larger part of the market, "and the Justice case doesn't address that at all."
Internet brokers acknowledge that the withholding of listings isn't a big deal when you look at the nation as a whole, but they point out that the 850 local MLSs cover discrete geographical areas. Some of them have a high withholding rate. In Chicago, Lashinsky says, an estimated 65 percent of MLS-listed properties are withheld from Web sites. An executive with another Internet company says Cleveland and Des Moines have high percentages of opt-outs, too.
"It comes down to control of information," says Manuel Iraola, chief executive of Homekeys, a do-it-yourself real estate Web site based in Miami. "Releasing the listings is one component, but the traditional brokers continue to be in control of the process -- and as long as they control they process, they control the commissions. And that is not in the best interests of consumers."
Traditional commission structureThe Justice Department says the Realtors' Web policies are largely about protecting commissions, and so does Colby Sambrotto, chief operating officer of ForSaleByOwner.com, a no-commission online marketplace based in New York City. "It's not in the best interest of the consumer," he says, echoing Iraola's theme. "It's about protecting the traditional commission structure, which I think is doomed."
Others have said that it's not just about commissions, but about survival of traditional brokerages and of the local MLSs. On the surface, at least, it doesn't appear to be a battle over what's best for buyers and sellers.
"What you want is maximum exposure to your property," Iraola says. "So why restrict it to a few people?"

Seinfeld or Friends ? which one is better

2005-09-18T14:30:00.000-07:00

One reader asks a question !
My g/f and I had a major fight last night and I think we might break up. It got really heated and she kicked me out and I think she's a bitch. I said I think Seinfeld is better than friends and she totally lost it. And I'm like WTF, kramer is so much funnier than chandler. And then she threw a lamp at me. So can someone please help me prove it to her that seinfeld is better? And how should I dump her? I was gonna try and use a line from seinfeld but I can't remember a good one. Can you think of one?

First of all Friends capitalizes on stupid behaviour, Seinfeld on wit. Dump her immidetly....if she is that stupid ,prefers friends to Seinfeld, she doesnt deserve you.Unless if she is really pretty and sexy and you think you still wanna have some time with her, tell her yea friends is better. She doesnt have good comedy taste, but if she is good in other things ( you know what I am talking about,!) tell her she's right and you can laugh at her stupidity as much as you can....what a air head blond chick!!!

if you wanna dump her, that's a different story, just start going out with someone else, and don't call, write, email, IM or drive by. Just move on and find something/someone better. Good luck. Dont break up so tragic,A girl this stupid could be good for your stagnancy days!!! while you dont have anyone around you can call up and get her for a while and wait for someone better to come up.
If you looking for a line...The line I would use is...'You've got man hands' or 'I'm gay'.

Single Guys,Important news

2005-09-17T15:35:00.000-07:00

Jennifer Aniston: Ready To Date

JENNIFER ANISTON helped OPRAH WINFREY kick off the 20th season of her daytime talk show Monday with a very revealing interview. After coming out and presenting Lady O. with a pair of champagne glasses and making a toast -- "to you and everything that you do" -- the glowing actress proved to be upbeat in light of the recent end of her marriage to BRAD PITT. "I'm doing so well," she exclaimed. "I'm not sitting, dwelling on the past."
As for all the media attention surrounding the break-up, Jen is confident that "it'll die down eventually and I've come to peace with it." She also set the record straight about the rumors that her lack of desire to have children contributed to the divorce. "Yeah, I do," Jen said sincerely when Oprah asked her about wanting kids. "I always have."
Jen also admitted that it was "a little bit" difficult getting used to being home alone following the separation, "but now it's pretty fantastic" and says that she doesn't sleep much because "I'm planning a lot."
So, is the former "Friends" star ready to start dating? "Yeah," she said with a smile, adding, that she loves "the unknown. I love the discovery of what will be happening."
On a lighter note, Jen tells Oprah that "sunset" is her favorite time of day and that one of her favorite food indulgences is "Mexican."
Also during the show, Oprah announced that she will be donating $10 million of her own money to assist the victims of Hurricane Katrina. The generous gift will go towards the construction of new homes and other Katrina projects. "I pledged to the survivors that I wouldn't forget them," said Oprah, who recently journeyed to the devastated South to witness first-hand the destruction and assist with relief efforts in the region.

Real estate: When booms go bust...

2005-09-16T15:25:00.000-07:00

In an extremely rare decision, the Catholic Church officially recognized the demonic possession of a 19-year-old college freshman. A lawyer takes on a negligent homicide case involving a priest who performed the exorcism that resulted in the girl's death.

Real estate: When booms go bust...Home prices can and do go down. Here's what declines have looked like in the past.

Across America, real-estate prices continue to confound the skeptics. Many Americans have come to think of their homes as rock-solid investments with little downside.
And why not: For the past 40 years, national home prices have surpassed inflation by a percentage point or two on average and there has never been a national real-estate bust.
But are people ignoring the risks?
"I think Americans are not well aware that many markets are risky," says Ingo Winzer, president of Local Market Monitor, which sells real-estate market analysis to corporate and consumer clients.
Those investors should realize that price reversals do happen, even if only locally rather than nation-wide. A look at the not so distant past reveals numerous examples of cities that went through housing busts -- followed by years of falling prices. Some have never fully recovered.
Once hot, then not
Take Los Angeles, where real estate has been turbocharged for nearly 10 years. But the early 1990s were a different story; the average house price in L.A. dropped from $222,200 in 1990 to $176,300 in 1996, a loss of 20.7 percent.
Furthermore, those are nominal prices, not real values. To calculate the loss more realistically you would have to figure in the cost of inflation: $222,200 in 1990 would have been worth $266,700 in 1996 dollars, which means the actual loss for homeowners buying in 1990 and selling in 1996 was closer to 34 percent.
Not exactly the Nasdaq meltdown for investors, but getting closer.
But that's L.A., where the aerospace- and film and television production-based economy can be a bit volatile. What about cities in more traditional areas? How did things play out in Peoria, Ill. for instance?
Not well, not in the early 1980s at least. Peoria experienced real-estate price drops amounting to more than 15 percent tied, in part, to strikes and lay-offs at Caterpillar, the city's biggest employer. In 1981, the average home there sold for $60,800. By 1985, that had dipped to $51,400.
"Oil patch" cities, suffered even sharper declines. In Oklahoma City prices plummeted 26 percent from 1983 to 1988. It took 15 years for prices there to return to nominal 1983 levels.
Houston home prices fell 22 percent from $111,000 to $86,800, and also took 15 years to rebound.
Counting inflation, the average Houston home, which cost just $159,700 in 2004, is actually worth less now than it was 22 years ago. When, adjusted for inflation, a home cost about $219,000 in 1983. In Oklahoma City, the inflation-adjusted price in 1983 was $196,600. Today, it's just $135,100.
The boom will end, but when?
History seems to dictate that the current price boom is at risk.
One factor is that real-estate investing has spiked, pressuring prices upward.
In Phoenix, according to Bill Jilbert, president and COO of the Coldwell Banker brokerage there, investors from Nevada and California have invaded the Arizona market, and "affordable housing has been pushed to extremes." That story is echoed in many local markets.
Low interest rates have also kept real estate bubbling. Cheap mortgages enable entry level buyers to get into the market and wealthier ones to afford more expensive houses.
That means higher demand and higher prices at all market levels.
Winzer says that low rates "have extended the cycle."
Winzer assesses local market risk by taking into account economic and population growth, construction costs, vacancy rates, and, especially, income.
He also considers such factors as density and access to open land. Prices in densely settled New York have always been higher than those of cities with lots of space for new housing.
Winzer considers real estate "very risky right now." And because the price run up has been so high he expects the adjustment period – where home prices stagnate as income catches up -- to take a very long time. Before they purchase a home, buyers better figure on scenario of many years of little or slow home-price appreciation. Counting on home price increases could be a big mistake.
The boom has already gone on longer than Winzer thought it would. "Bubbles do tend to last longer than most people expect," he says, "and end quicker."

What Is a Lease-to-Own Purchase?

2005-09-15T13:48:00.000-07:00

Britney Spears, who sang "I'm not a girl, not yet a woman," is now a mother and she's "ecstatic" about it.Baby is a Boy, Britney and Kevin Congrats.............

Jobless Claims, Energy Prices Both Surge

Delta, Northwest Expected to Look Different After Bankruptcy, Maybe Even Like Smaller Rivals

What Is a Lease-to-Own Purchase?

A lease-to-own house purchase (also "rent-to-own purchase" or "lease purchase") is a lease combined with an option to purchase the property within a specified period, usually 3 years or less, at an agreed-upon price. The borrower pays an option fee, 1% to 5% of the price, which is credited to the purchase price. The borrower pays rent, and an additional rent premium that is also credited to the purchase price. If the purchase option is not exercised, the buyer loses both the option fee and the rent premium.
As with any kind of financial contract, lease-purchase deals can be structured in such a way that all the benefits flow to one of the parties and none to the other. Buyers especially need to be careful. But lease-purchase plans have a solid economic rationale, which means that they can be structured so that both parties benefit.
Contract Features of a Lease-Purchase
A lease-purchase has 5 major provisions. The sale price of the house and the rent are market-determined, yet subject to negotiation just as in a straight purchase or rental transaction. Buyers often know less about the market than sellers, which places buyers at a disadvantage unless they do some homework, which is advisable.
Buyers generally prefer a long option period because it provides more time to build equity and repair credit. A long period can boomerang on them, however, if they are never able to exercise the option, since they lose the rent premium they have been paying all the while, in addition to the option fee. Sellers generally prefer a short option period, but if it is too short, the house won’t be sold.
The option fee and rent premium are viewed differently by buyers and sellers. To the buyer, they are part of the equity in the house they will soon own. Fully anticipating that they will exercise the option, the only cost is the interest they would otherwise have earned. To sellers, however, these payments are the best guarantee that their houses will sell; if they don’t sell, the payments are retained as income. That the benefit to the seller generally exceeds the cost to the buyer makes the lease-to-own deal a possible win-win.
Using a Lease-Purchase to Buy
The lease-purchase offers homeownership opportunities to consumers with little cash and/or poor credit, who are prepared to bet on themselves. The bet is that before the option period expires, they will qualify for the mortgage they need to exercise the purchase option. During the option period, they have the opportunity to rebuild their credit and accumulate equity while living in the house.
The development of the sub-prime market, in which consumers with poor credit or no cash can obtain loans, does not seem to have lessened interest in lease-purchase. It is very likely that those who succeed in exercising their option under a lease-purchase do better than if they had financed a conventional purchase in the sub-prime market. The savings in finance costs will more than offset a higher price on the house. But those who can’t exercise their option will lose their bets.
Consumers who need to rebuild their credit rating during the option period should understand that paying their rent on time won’t do it. Rent payment information is not used in compiling credit scores. While Fair Isaac, the company that developed credit scoring, has recently unveiled an “expansion” score based on “non-traditional credit data,” it does not yet include rent payment information from individual home owners. Lease-purchase buyers who need a higher credit score must focus on their credit cards and loans.
Even though it is costly, the right not to exercise the option is of value to buyers. If there is something seriously wrong with the house, neighborhood, or neighbors, the money left behind on a lease-purchase is much smaller than the cost of an outright purchase followed by a sale.
Using a Lease-Purchase to SellMost home sellers want a cash sale, but for those prepared to hang on to the property awhile longer, the benefits can be compelling. Bob Bruss, an expert’s expert on lease-purchases, says that in this market, there are always more buyers than sellers – he has been both. As a result, buyers generally pay top dollar, perhaps including some assumed future appreciation.
To be sure, the deal may fall through, but in that case the seller gets to pocket the option fee and rent premium. The seller also enjoys the tax deduction on his mortgage interest payments during the option period.

Hilton Hacker Jailbound

2005-09-14T12:26:00.000-07:00

Hilton Hacker Jailbound

Just in case you were wondering, it's once again safe to give Paris Hilton your number.
The 17-year-old boy who hacked into the hotel heiress' Sidekick account and posted her A-list contacts online has been sentenced to 11 months in a juvenile detention facility.
Under federal law, the boy's identity is protected, but he lives in Massachusetts and has apparently hacked more than Hilton's prized phone, according to the Washington Post. He copped to his crimes in front of a federal judge last week in Boston, pleading guilty to nine counts of juvenile delinquency.
The charges included hacking into Internet and telephone service providers, stealing personal information and posting it on the Web, and making bomb threats to high schools in Florida and Massachusetts--all over a 15-month period.
In addition to his stint in juvie, the Paris perp will be on supervised release for two years, during which time he must stay away from computers and any device that can connect to the Internet.
The humbled hacker worked both alone and as part of a group. He mined data from the LexisNexis Corporation, viewing person records of some 300,000 customers. And, in January, he broke into T-Mobile's internal database and hijacked Hilton's phone numbers and text messages.
Hundreds of the hotel heiress' contacts, including the likes of Avril Lavigne, Eminem and Lindsay Lohan, were exposed to the wrath of prank phone callers after the contents of Hilton's Sidekick were published on the Internet.
Some celebs reported receiving calls from as far away as China as they scrambled to change their formerly unlisted numbers to new unlisted numbers. Victoria Gotti said she received over 100 calls in two hours.
Hilton was apologetic after the debacle became public. "I want to apologize to all my friends and family," the 25-year-old told Us Weekly. "I don't know why this stuff always happens to me, but I wish it wouldn't anymore."
With her phone records now presumably safe, Hilton can continue to plan her wedding to Greek shipping heir Paris Latis. She also is contractually obligated to star in a new season of Fox's Simple Life, but producers are trying to figure out a way to retool the series since Hilton is no longer speaking to Simple sidekick Nicole Richie.
Hilton is also supposedly working on tracks for her long-delayed album on Warner Bros. She turned up at last month's MTV Video Music Awards with her new record producer, Scott Storch, trying to drum up interest in the project.
In addition to working on her record, the One Night in Paris star is set to attend at least two movie premieres in the near future. She appears in National Lampoon's Pledge This!, due out this year, and Bottom's Up, in 2006.

Slowdown? Real estate still going strong

2005-09-13T10:29:00.000-07:00

2006 Honda Civic....Still is a girly car, One thing I do Not like about Honda!! Almost everyone either has a Honda or had a Honda in their life time!
I prefer Jetta....it's classy.

Real estate markets are off and running again after a slight slowdown earlier this summer.
The red-hot U.S. housing market, after a typical summer slowdown, has taken off again and Hurricane Katrina contributed to up-ticks in several localities.
According to the National Association of Realtors, with inventory of homes available for sale across the country so tight anyway, rebuilding the Gulf Coast will place additional pressure on all home prices.
"New home prices will be immediately impacted because of increased construction costs," says NAR economist Lawrence Yun, "and that will filter down to existing home prices as well." That's because as new house prices rise, more homebuyers will consider existing homes, increasing the demand (and prices) for them.
Home sales have already spiked, as has rental demand, in regions surrounding the disaster zone in the Gulf Coast, according to NAR.
Michael Carliner, economist with the National Association of Home Builders, points to increased housing demand in Baton Rouge and Houston, which pre-Katrina, had a large inventory of vacant rental housing. Much of that has now been snapped up, he said.
In Baton Rouge, evacuees have bid up property values by up to 30 percent in just the last week or two.
But it isn't just a Katrina effect. With home prices having gained so much in the past few years, skeptics have been waiting for what they consider to be an inevitable slowdown, and were quick to point to sluggish activity over the summer.
Those skeptics are still worried, but for the time being, there already are signs that the rally is picking up where it left off.
Florida remains strong
Katrina has had little effect on neighboring Florida markets, except for a trickle of hurricane evacuees in the panhandle area. Some businesses have also temporarily relocated to Tampa and other Florida towns, putting a little more pressure on markets.
Overall though, Sunshine State markets have continued strong and high prices are transforming landscapes. As single-family home costs have exceeded affordability for many Floridians, condo sales have boomed.
That has, in turn, affected the rental market -- investors are snapping up apartment buildings for condo conversion and sending their prices climbing.
Said Matthew Martinez, who owns rental properties in Boston and Florida: "I've looked at 22 apartment buildings in Miami in the past two weeks and bought none. The economics just don't make sense anymore."
Just north of Miami, the situation is much the same. Elena Felipa, vice president of the Corcoron Group in West Palm, said "Lots of apartments are being converted to condos," she says. "There are few rentals around anymore."
Felipa says many recently constructed rental buildings – some just a year or two old – are already undergoing condo conversion.
Area prices have hit $350 a square foot – off the water – and $1,000 a square foot or more for waterfront property, according to Felipa.
That has driven bargain seekers three hours north to the Daytona area, where condos on the Intercoastal Waterway can still be had for $400,000 or $500,000. "You can't touch that in south Florida," said Felipa.
Northern perspective
Manhattan is about as far removed from the disaster in the Delta as one can get in the United States. But the market revitalized during late summer as well, after it paused to catch its breath in July, according to Corcoron's CEO Pam Liebman.
"What we're seeing is that fall is off to a running start, a sprint really," said Liebman. She credits talk of interest rates stabilizing (a possible Katrina effect) for triggering the new "burst of buying, especially in entry level apartments," which in Gotham often means million-dollar, one-bedroom co-ops.
Manhattan's other consistently strong suit this year has been high-end properties. "We have seen very strong buys from the superwealthy, especially hedge fund operators. This year we had more transactions above $10 million than ever," said Liebman.
The wealthy are also out in force on Long Island beach communities, according to Liebman. "In the Hamptons," she says, "the biggest problem is a lack of inventory. Everything available is getting snapped up."
The most expensive homes there, of course, are on the oceanfront. "Near or on the ocean, you're practically setting your own price," she says.

Playboy wants sexy Gap sales girls

2005-09-12T17:25:00.000-07:00

Playboy.com's "Women of Home Depot" pictorial features six employees minus their orange aprons.
Playboy.com is looking for the Gap's sexiest sweater sweeties to pose for its upcoming "Girls of the Gap" online, to be launched in time for the holiday shopping season.
The online publication of the adult men's magazine has run similar pictorials that aim to "uncover" corporate employees, with spreads that have included the "Women of Home Depot (up $0.11 to $41.33, Research)," "Women of Wal-Mart (unchanged at $45.89, Research)" and "Women of McDonald's (down $0.34 to $33.80, Research)."
Those specials were the three biggest money-generating features for playboy.com, a company spokeswoman said.
"(Women of Wal-Mart) was a real watershed moment for Playboy.com in terms of the number of people who actually paid money to get access to the pay-per-view part of the feature," John Thomas, editor of Playboy.com, told CNN/Money in a previous interview.
The spreads are directly responsible for thousands of new memberships to the Playboy Cyberclub, where the pictorials are housed online, just to gain access to the Home Depot, Wal-Mart and McDonald's articles, said the spokeswoman.
She added that those three specials alone have generated hundreds of thousands of dollars in revenue, and translated into over 10,000 DVD sales.
As with previous playboy.com pictorials, the Gap (down $0.04 to $18.91, Research) special will be available only online and showcase the retailer's "sexiest" female employees.
The adult men's publication ran similar "Women of Enron" and "Women of Starbucks" photo spreads in Playboy (up $0.15 to $13.81, Research) magazine in 2002 and 2003.
Wal-Mart, the world's largest retailer, criticized the Playboy spread that featured its employees in November 2004, saying the project went against its image as a family store.
Playboy.com pays models for features but does not disclose the amount.
Any woman 18 or older who is a part- or full-time employee at the Gap can apply by submitting a head shot, a full-body shot and a recent pay stub by mail to Playboy by October 7, 2005.
Submissions can also be e-mailed to modelsearch@playboy.com.
The Gap did not return calls seeking comment.

ONE MISTAKE ALMOST ALL MEN MAKE WITH WOMEN... AND

2005-09-11T02:22:00.000-07:00

A Question for Gentelmen,
Not for ladies to participate!!!(I will not allow any comments from ladies.Please dont take it personal.)
If you can go out with Jennifer Lopez, Brithny Spears, and Angelina Jolie, who would you choose?( Imagine you have no ideas about their character and personality?)Oh boy tough question !!!! To be Poleticaly Correct I will not answer myself.

MISTAKE ALMOST ALL MEN MAKE WITH WOMEN... AND WHAT TO DO ABOUT IT...
There is one critical mistake that almost allmen make with the women that they're REALLYattracted to. This particular mistake is at the root of somany different problems that men run into, thatthe topic probably deserves a book to be writtenabout it alone. That mistake is allowing yourself to becomeOVERLY EMOTIONAL around a woman at the wrong timeand screwing up the great situation that you have,by revealing the fact that you're out of control. When most of us guys see an attractive womanthat we'd like to meet, we FREAK OUT, become verynervous, and literally become IMMOBILIZED. This is a case of not being able to controlyour EMOTIONS. When most of us guys have the phone in hand,and we're getting ready to call a girl to ask herout, we FREAK OUT, and again, we become so nervousthat we're IMMOBILIZED. This is another case of not being able tocontrol your emotions. When most of us guys think that it might betime to KISS a girl, we FREAK OUT. When a woman won't call back, we get upset. When a woman tests us by challenging somethingwe say, we become nervous and unsure. The point I'm making here is that if you allowyourself to become TOO emotional in situations
It\'s happened to all of us many times, and it\'sa UNIVERSAL experience. But wait a minute. Emotions are GOOD THINGS, aren\'t they? Aren\'t emotions the thing that allow us toreally ENJOY life? And isn\'t it wrong to try to "control how youfeel"? Isn\'t it better to just "be who you are"and not try to beat yourself up because you feel acertain way? Have you ever heard a woman (or a man) say "Ican\'t help the way I feel"...? We all have. We even have TERMS that we use to describe whenwe\'re overly upset and just need to "get it out".We call it "venting" and such. The implication here is that in our modern 21stcentury society, it\'s OK to be upset, to getemotional, and to show how you feel... But is this always true? TWO KINDS OF EMOTIONS I think that emotions come in "two flavors". There are those that you could consider"positive" emotions or those based in "joy", andthere are "negative" emotions or those based in"fear". In other words, there are the emotions thatmake you "feel good" and emotions that make you"feel bad". In addition, we all know that emotions aren\'tlike on/off switches. In other words, when you feel an emotion, youusually feel an AMOUNT of it. Maybe it\'s just alittle, or maybe it\'s very strong. But the reality is that when an emotion startsto become too strong, it literally TAKES OVER yourmind and body. In some situations, this can be a very powerfulPOSITIVE thing for a person.",with women, it will screw you up. Guaranteed. It's happened to all of us many times, and it'sa UNIVERSAL experience. But wait a minute. Emotions are GOOD THINGS, aren't they? Aren't emotions the thing that allow us toreally ENJOY life? And isn't it wrong to try to "control how youfeel"? Isn't it better to just "be who you are"and not try to beat yourself up because you feel acertain way? Have you ever heard a woman (or a man) say "Ican't help the way I feel"...? We all have. We even have TERMS that we use to describe whenwe're overly upset and just need to "get it out".We call it "venting" and such. The implication here is that in our modern 21stcentury society, it's OK to be upset, to getemotional, and to show how you feel... But is this always true? TWO KINDS OF EMOTIONS I think that emotions come in "two flavors". There are those that you could consider"positive" emotions or those based in "joy", andthere are "negative" emotions or those based in"fear". In other words, there are the emotions thatmake you "feel good" and emotions that make you"feel bad". In addition, we all know that emotions aren'tlike on/off switches. In other words, when you feel an emotion, youusually feel an AMOUNT of it. Maybe it's just alittle, or maybe it's very strong. But the reality is that when an emotion startsto become too strong, it literally TAKES OVER yourmind and body. In some situations, this can be a very powerfulPOSITIVE thing for a person.
a world-class performance... you can literallyFEEL the emotions they\'re feeling. It can be anamazing experience when they allow their emotionsto take over. But it can also be a very powerful NEGATIVEthing as well. Like when you\'re looking across the room at abeautiful woman you\'d like to talk to and youbecome so nervous that you make yourself sick. Emotions can actually CONTROL you. And when an emotion becomes so strong that itactually DOES "take over", you\'re out of control. Remember that. Strong emotions also create strong MEMORIES. We tend to remember things better if we werefeeling a strong emotion when they happened. I can remember so many situations where I wastoo nervous to talk to a girl, or too nervous toask her out, or whatever. I can remember situations TWENTY YEARS AGOvividly... where I was so nervous in the situationthat the emotion burned the image into my mind. When this kind of thing happens a lot (like ithas with me), it starts to make a "feedback loop".In other words, most of the strong memories I hadabout women were situations where I SCREWED UP...so I had less and less confidence as the yearswent by. Give me a little silent nod here if you knowwhat I\'m talking about. CONTROLLING YOUR EMOTIONS I\'m sure you\'ve already figured out that I\'mgoing to suggest that you learn how to controlyour emotions in situations with women. Let me talk for a moment about the reasons WHYit\'s important to do this. Remember, when it comes to ATTRACTION, all ofthe "normal" rules change. You have to stop thinking about what you
Imagine your favorite musician or actor givinga world-class performance... you can literallyFEEL the emotions they're feeling. It can be anamazing experience when they allow their emotionsto take over. But it can also be a very powerful NEGATIVEthing as well. Like when you're looking across the room at abeautiful woman you'd like to talk to and youbecome so nervous that you make yourself sick. Emotions can actually CONTROL you. And when an emotion becomes so strong that itactually DOES "take over", you're out of control. Remember that. Strong emotions also create strong MEMORIES. We tend to remember things better if we werefeeling a strong emotion when they happened. I can remember so many situations where I wastoo nervous to talk to a girl, or too nervous toask her out, or whatever. I can remember situations TWENTY YEARS AGOvividly... where I was so nervous in the situationthat the emotion burned the image into my mind. When this kind of thing happens a lot (like ithas with me), it starts to make a "feedback loop".In other words, most of the strong memories I hadabout women were situations where I SCREWED UP...so I had less and less confidence as the yearswent by. Give me a little silent nod here if you knowwhat I'm talking about. CONTROLLING YOUR EMOTIONS I'm sure you've already figured out that I'mgoing to suggest that you learn how to controlyour emotions in situations with women. Let me talk for a moment about the reasons WHYit's important to do this. Remember, when it comes to ATTRACTION, all ofthe "normal" rules change. You have to stop thinking about what you've
that a woman\'s ATTRACTION isn\'t triggered by youbeing "nice". So I have TWO good reasons why you need tolearn how to control your emotions around women:1) If your emotions take control early on, youprobably won\'t even be able to talk to her, callher, or ask her out. You\'ll just be too freakedout to even make your first move.2) Women aren\'t ATTRACTED to guys who let theiremotions control them all the time. This isESPECIALLY true when the guy acts like a WUSSY. We talked about the first reason already. Let\'s talk about the second one. Why don\'t women like guys who are overly-emotional Wussies? Because women NEVER feel ATTRACTION for menthat they can CONTROL. The more control a woman has over you, the lessATTRACTION she feels for you. The less of a CHALLENGE you are, and the morePREDICTABLE you become, the less ATTRACTION shefeels. It\'s very simple. To put it another way; if you\'re the type ofguy who lets his emotions TAKE OVER, then you needto learn how to control them. If you don\'t, you\'re going to have a VERY hardtime succeeding with women. THE FIRST STEP... I think that the first step in learning how tocontrol your STRONG emotions is to realize howthey\'re triggered. Most strong emotions are TRIGGERED. Something happens that "pushes a button" insideof you and BAM!... the emotion happens before youeven have a chance to think about it. But the fact is that these "triggers" have astructure to them. There are all kinds of little things thathappen during that "trigger". One of the biggest insights that I\'ve had about"
learned about being a "nice guy" and realizethat a woman's ATTRACTION isn't triggered by youbeing "nice". So I have TWO good reasons why you need tolearn how to control your emotions around women:1) If your emotions take control early on, youprobably won't even be able to talk to her, callher, or ask her out. You'll just be too freakedout to even make your first move.2) Women aren't ATTRACTED to guys who let theiremotions control them all the time. This isESPECIALLY true when the guy acts like a WUSSY. We talked about the first reason already. Let's talk about the second one. Why don't women like guys who are overly-emotional Wussies? Because women NEVER feel ATTRACTION for menthat they can CONTROL. The more control a woman has over you, the lessATTRACTION she feels for you. The less of a CHALLENGE you are, and the morePREDICTABLE you become, the less ATTRACTION shefeels. It's very simple. To put it another way; if you're the type ofguy who lets his emotions TAKE OVER, then you needto learn how to control them. If you don't, you're going to have a VERY hardtime succeeding with women. THE FIRST STEP... I think that the first step in learning how tocontrol your STRONG emotions is to realize howthey're triggered. Most strong emotions are TRIGGERED. Something happens that "pushes a button" insideof you and BAM!... the emotion happens before youeven have a chance to think about it. But the fact is that these "triggers" have astructure to them. There are all kinds of little things thathappen during that "trigger". One of the biggest insights that I've had about
making something that happens MEAN something. In other words, it\'s not the actual situationitself that "pulls the trigger" or "pushes thebutton"... it\'s what you think it MEANS. For instance, let\'s say that you\'ve met a cutegirl, gotten her number, and called her on thephone... she wasn\'t home, so you left a messagefor her. She doesn\'t call back. What do we, as guys, usually think? "Maybe she doesn\'t like me. Maybe she has aboyfriend. Maybe she\'s trying to avoid me. If Icall her again, maybe she\'ll reject me." In other words, we make the fact that shedidn\'t call back MEAN all these different things. Another HUGE insight I\'ve had in this area isthat us guys allow our imaginations to take overand imagine the WORST possible outcomes ofsituations. Then we get nervous about that outcomehappening and we FREAK. For instance... have you ever seen a girl thatyou wanted to approach... but all you couldimagine was her REJECTING you? Or you were with a woman on a date, and youwanted to kiss her... and all you could imaginewas her getting upset or pushing you away? Don\'t worry, we all do it. The point is that most of us guys use our mindsto imagine the WORST possible outcomes forsituations... and it pushes all the wrong buttons,and gets us all nervous and upset... which, ofcourse, makes us screw everything up. When it comes to women, it\'s important that youlose the need to make everything MEAN something...and STOP imagining the worst. Think about those situations when a womandoesn\'t call you back... or plays hard to get. As guys, we immediately start to wonder where",
these "triggers" is that they're usually caused bymaking something that happens MEAN something. In other words, it's not the actual situationitself that "pulls the trigger" or "pushes thebutton"... it's what you think it MEANS. For instance, let's say that you've met a cutegirl, gotten her number, and called her on thephone... she wasn't home, so you left a messagefor her. She doesn't call back. What do we, as guys, usually think? "Maybe she doesn't like me. Maybe she has aboyfriend. Maybe she's trying to avoid me. If Icall her again, maybe she'll reject me." In other words, we make the fact that shedidn't call back MEAN all these different things. Another HUGE insight I've had in this area isthat us guys allow our imaginations to take overand imagine the WORST possible outcomes ofsituations. Then we get nervous about that outcomehappening and we FREAK. For instance... have you ever seen a girl thatyou wanted to approach... but all you couldimagine was her REJECTING you? Or you were with a woman on a date, and youwanted to kiss her... and all you could imaginewas her getting upset or pushing you away? Don't worry, we all do it. The point is that most of us guys use our mindsto imagine the WORST possible outcomes forsituations... and it pushes all the wrong buttons,and gets us all nervous and upset... which, ofcourse, makes us screw everything up. When it comes to women, it's important that youlose the need to make everything MEAN something...and STOP imagining the worst. Think about those situations when a womandoesn't call you back... or plays hard to get. As guys, we immediately start to wonder where
We make up pictures in our minds of her out withother guys, doing fun things without us, etc. andwe let it upset us. Bad idea. This is the kind of thing that makes us do allKINDS of stupid, Wussy things that scare womenaway... like calling 100 times a day, asking whereshe was and what she was doing, etc. Instead, start doing yourself a favor and:1) Imagining the BEST possible outcome.2) Making things mean something GOOD. If she doesn\'t call you back, imagine that sheprobably didn\'t get the message (maybe herroommate erased it), and make it mean that whenshe finally DOES hear from you, she\'s going to beeven MORE interested because it took you so longto call her. If she plays hard to get, realize that she\'sonly doing that because she REALLY likes you...and that it\'s almost inevitable that you\'re goingto get together with her. Does this stuff sound strange? Well, I\'ll tell you something... All of the guys I know who are the BEST withwomen think this way. This is how their mindsoperate. I used to be VERY negative. I thought thatevery situation was going to go wrong, and thateverything women did meant that they somehowdidn\'t like me. It\'s taken me awhile, but I\'ve changed my ownthinking so it\'s now more positive and optimistic. And guess what? Now women are FAR more attracted to me. In fact, it\'s almost like magic. The more Iexpect things to go well, the better they go. Tryit, it works. Also, start noticing those particular thingsand situations that trigger your "overpowering"emotions. Learn to spot the signs that it\'s about to"
she is... what she's doing... and who she's with. We make up pictures in our minds of her out withother guys, doing fun things without us, etc. andwe let it upset us. Bad idea. This is the kind of thing that makes us do allKINDS of stupid, Wussy things that scare womenaway... like calling 100 times a day, asking whereshe was and what she was doing, etc. Instead, start doing yourself a favor and:1) Imagining the BEST possible outcome.2) Making things mean something GOOD. If she doesn't call you back, imagine that sheprobably didn't get the message (maybe herroommate erased it), and make it mean that whenshe finally DOES hear from you, she's going to beeven MORE interested because it took you so longto call her. If she plays hard to get, realize that she'sonly doing that because she REALLY likes you...and that it's almost inevitable that you're goingto get together with her. Does this stuff sound strange? Well, I'll tell you something... All of the guys I know who are the BEST withwomen think this way. This is how their mindsoperate. I used to be VERY negative. I thought thatevery situation was going to go wrong, and thateverything women did meant that they somehowdidn't like me. It's taken me awhile, but I've changed my ownthinking so it's now more positive and optimistic. And guess what? Now women are FAR more attracted to me. In fact, it's almost like magic. The more Iexpect things to go well, the better they go. Tryit, it works. Also, start noticing those particular thingsand situations that trigger your "overpowering"emotions. Learn to spot the signs that it's about to
calm, and collected. If you can learn how to do this, your successwith women will improve DRAMATICALLY. Now, this is just the tip of the iceberg, so tospeak. It\'s also important to learn how to improveyour self image, overcome FEAR, maintain yourphysical composure, and communicate using yourbody language... so that you\'re successful in eachsituation with women. Where can you learn every one of my bestpersonal techniques for this stuff? Try my Advanced Dating Techniques program. In that program I\'ll teach you all of thetechniques that I use personally to get theseareas under control... and to take each situationthat you find yourself in with women and turn itinto a success.

Cars as Investments

2005-09-10T10:42:00.000-07:00

FC Chelsea is Leading Premier League with 5 wins in 5 games, No one Can even think to stop Jose Morino's team.Samuel Eto'o scored twice in a 2-0 Barcelona win in Spanish Primera Liga to give more hope to Frank Rejkard's team.Bayren Munich with their Super Star ali Karimi leading Bundesliga,I dont see any reason Magat's team wouldnt win bundesliga again.
In Italian Serie A, Juventos is on top and Milan and Inter are serious teams to win the league this year.Dont miss this weeks openings in Champions League.I will blog these games live if I can.

Cars as Investments
Vroom, vroom!
If you're wondering what kind of car makes the best investment, stop wondering. It's true that a few well-cared-for cars can appreciate over time, but in general, it's best to not think of cars as investments. For most of us, they're simply necessary means of transportation. Cars tend to decrease in value over time. That's why it's generally true that the less you spend on cars, the better. That doesn't mean you should always buy the cheapest available car. Spending a little more on a car that will be reliable and last a long time can be a very smart strategy. Consider a good used vehicle, too, since it can be cheaper to own in the long run.
Here's an eye-opening snippet from Dummies.com:
In addition to the fact that new cars can depreciate 30% to 40% in only two years, buying or leasing a new vehicle can continue to cost you several hundred dollars a month for an average of three years. As one Consumer Reports Buying Guide put it, "A new car depreciates 20% to 30% the minute you drive it off the dealer's lot." Why not buy a two- or three-year-old used vehicle and let some other hotshot take the loss?
You can go through all of your life having bought a house just once, but you'll likely buy a car five to 10 times -- if not more. Add all those expenses together, and they'll probably amount to the cost of a house. Buying a car involves a significant amount of money. You can probably save hundreds of dollars, if not a thousand or more, on your next purchase by putting some tips and strategies to work.
For much more on the ins and outs of the car-buying process, check out the Fool's car-buying area. Or just drop in to see what others are saying. Our discussion board community is broad and deep -- and friendly. Topics discussed on the board have included whether to file an insurance claim after an accident, the top 10 car stars, anti-theft devices, auto shipping, whether to buy a new or used minivan, dealer-financing gotchas, and how to donate a car.

The Anatomy of a Mortgage

2005-09-09T22:43:00.000-07:00

Again I express My deepest sympathy and condolences to those effected by Hurricane Katrina.

The Anatomy of a Mortgage

What exactly is a mortgage? Simply put, it's a loan from a financial institution to you. In return, you pay interest on the amount loaned. The lender also has first dibs on your house in case you neglect to pay back the loan.
Francophiles and wordsmiths will recognize the root word "mort" in there. No, that's not your Uncle Mort; that's the French word for "dead." The idea is that you're going to kill off that loan, by paying back the money you borrowed. You amortize the loan, over time. Yes, it's a slow death, but it must be carried out.
A loan has three facets:
1. size (how many dollars you need to borrow)2. interest (the percentage rate you pay on the loan)3. term (how long it will take to pay off the loan)
The first one is self-explanatory (although there are choices you can make with regard to the down payment, which we'll investigate in a little while).
The other two are more complicated. Let's look first at the interest rate.
The Calculation of APR (Annual Percentage Rate)
The annual percentage rate is a method developed under federal law to disclose to loan applicants the actual amount of interest that will be paid on a given loan, over the life of that loan. It makes it easy to compare one mortgage to another by making it an apples-to-apples comparison. You should, however, use the APR as just one tool in evaluating a loan, not as the sole factor in making your decision.
To understand APR, you must first understand the concept of points. A point is 1% of the loan amount. If the loan is for $100,000, one point is $1,000.
There are two types of points: origination and discount. Origination points are the fees normally charged by a lender, and sometimes by a mortgage broker, for originating, or starting up, your loan. Discount points are charged to lower your interest rate, and this lowers your payments. In other words, if you pay some more money up front, the bank will let you pay less over time.
Both types of points should be considered interest that you pay up front. Therefore, you must figure points into the cost of your loan repayment. If you take out a loan for $120,000 at 9% interest for 30 years, and you pay one origination point and one discount point, you're paying a total of two points, or $2,400. Your payment will be $965.55 per month.
To get the proper APR on your loan, then, you have to add that $2,400 to your starting balance, since (remember?) it is interest, albeit prepaid interest. This makes your total loan $122,400. Figure the new payment on that balance, which works out to $984.00. Now return to the original loan amount and (ready, mathematicians?) compute the polynomial backwards to reach the interest rate it would take to equal the payment on the total loan. It works out to roughly 9.23%.
In paying points to lower your rate, a good rule of thumb is that it will take you about five years to make up the additional point(s) paid; then you will begin saving money over the remaining term of the loan.
By federal law, lenders are required to send you a TIL (no, that's not something you get your hand caught in when you're stealing -- it stands for Truth in Lending) statement within three days of applying for a loan.
The Term
The most common term for a fixed-rate mortgage is 30 years, with 15 years the next most common.
A 30-year vs. 15-year mortgage debate rages, but one thing is sure: You will pay much more interest over the term of the loan (in most cases double) on a 30-year mortgage. On the flip side, a 30-year mortgage will offer lower monthly payments. You'll be getting a tax write-off for the interest portion of your payments, which could be substantial. On the other hand, in the first 15 years of your loan, you will be unFoolishly lining someone else's pocket with interest, while not building up significant principal for yourself.
Example: Let's say you buy a $150,000 home. You put down 20%, or $30,000, which leaves you $120,000 to finance. If you get a 30-year loan at 8.5%, your payments are $922.70. After five years of payments, your balance owed is $114,588. If, on the other hand, you obtain a 15-year mortgage at 8.00% (rates are lower with shorter-term loans), your payments are $1,146.00 ($224.00 more each month). After five years in this loan, however, your balance is only $94,000. That's quite a difference when it comes time to sell.
In sum, a 30-year loan is good for long-term stability. If you can afford a 15-year mortgage, you will build principal faster. Another option would be to pay what would be equal to the 15-year payment on a 30-year loan, enabling you to pay it off in about 15 years (slightly longer due to the higher interest rate), while still having the cushion of the lower payment should money problems arise.
Details...
There's one other loan categorization that has to do with size. A conforming loan is less than the Federal National Mortgage Association's legislated mortgage amount limit, which is currently $322,700 for a single-family home. A jumbo loan, also known as a nonconforming loan, exceeds that amount. Since such jumbo loans cannot be funded by the agency, they usually carry a higher interest rate.

Rancic Says He'll Stop Working for Trump

2005-09-08T10:40:00.000-07:00

Bill Rancic is going to fire himself.
Rancic, winner of the first season of NBC's "The Apprentice," says he'll stop working for Donald Trump when his contract ends in March.
"That will probably be it for me," he said at a global leadership forum Wednesday in Malaysia.
He has been overseeing construction of the 90-story Trump International Hotel and Tower in Chicago.
"I'm gonna go out and start another business of my own," said the former Internet entrepreneur. "That's in my blood."
Rancic said he'll leave before Trump's project along the Chicago river is completed.
He said there are plans for him to appear in the fourth and fifth seasons of "The Apprentice," in which contestants use their business savvy to compete for a job with Trump. The fourth season premieres Sept. 22.
Rancic said he's interested in real estate.
"In the years to come, I hope there will be Bill Rancic towers right alongside the Trump towers," he said.
He urged Asian entrepreneurs to emulate Trump.
"He's a guy who's gonna die in that chair, putting together some big deal. I don't think Donald Trump will ever stop. He truly loves what he's doing."

Who you should get the Mortgage?

Answer: I can help you with that.We are proud in Evergreen Pacific Mortgage not only we offer the best program, we minimize the closing cost.

Mortgages are marketed (that is to say, offered to you) by several types of lenders. You can find a loan from mortgage brokers mortgage bankers, banks, credit unions, and savings & loans. In most cases, the lender earns origination fees and in the case of a mortgage broker, a broker's fee. The servicer is the company where you, the borrower, send your payment.
What Is a Mortgage Broker?Mortgage brokers are much like independent insurance agents, or, for that matter, your local supermarket. They have access to many lenders (roughly equivalent to suppliers, such as tomato companies) and many different programs (several brands of frozen, canned, or fresh tomatoes). In some cases, especially where credit is not flawless, and nonconforming properties are involved, a mortgage broker can find funding for you. (They may also be able to find tomatoes for you, but that's extra.) They charge a fee, and are sometimes compensated by the lenders. They provide a great service for many consumers, and originate over 50% of loans in the country.
Mortgage brokers normally originate the loan, process it, and pass it along to a lender, who sells it to an investor .These investors range from state pension funds to government and quasi-government companies such as the Federal National Mortgage Association or "Fannie Mae"; the Federal Home Loan Mortgage Corporation or "Freddie Mac"; and the Government National Mortgage Association ,or "Ginnie Mae." A mortgage broker can in many cases speed up your closing time, do all the processing, and get you a better rate.
The mortgage broker is compensated on commission, and he is going to have higher closing fees. At a given mortgage brokerage house, for example, closing fees might be $700. But some in the brokerage industry charge up to $1200 -- which some of their colleagues (and, indeed, the real estate agents with which they work) might regard as gouging. A broker is allowed to charge whatever he wants for loan processing or "doc prep" -- document processing.
As is the general rule in shopping: ask. Ask what the broker's fee will be. You can then make an informed decision as to whether paying that fee will be worth it over time if you get a better deal on a loan.
Banks and Mortgage BankersThe term "mortgage banker" can refer either to a loan officer who works at a bank or to the bank itself. A mortgage banker generally sells the underlying loan to an investor, but continues to service the loan.
Banks generally have a corporate approach, in which the mortgage bankers are told, "These are the fees -- don't deviate from them." So there is more stability in terms of what the person sitting across the desk from you is going to charge for his services .
Which Should You Use?Whichever gives you the best deal. That's why you should shop around first and find out all you can.
Some borrowers don't like the idea that the mortgage broker will find them the loan and then exit the picture, leaving the borrower to deal with a lender. On the other hand, the borrower will be dealing with a lender anyhow, and mortgage bankers might also end up selling the loan on the open market. What does that mean? Well...
This Loan Is for SaleThere is a market for mortgages just as there are markets for tomatoes, potatoes, running shoes, or designer suits. Your mortgage, once you get it, may be sold later to FNMA. FNMA buys mortgages and, in some cases, also takes on the servicing of these loans, after they are originated by the individual lenders. These loans usually carry the lowest interest rates.
Some lenders sell loans to funding sources other than FNMA, but usually these are types of loans that carry a higher rate of interest. Also, some banks and lenders hold their own loans (portfolio lending) and make their own credit and lending decisions. These interest rates vary widely.
If your loan is sold, you still have the same term, and the same loan; you just make the check out to another institution.

Shopping The Mortgage Market!

2005-09-07T09:20:00.000-07:00

I am about to shop the mortgage market. Can you give me a handy list of the mistakes I need to avoid? Select The Loan Provider Offering The Best Price Over The Telephone Or In The Newspaper If you cast a wide net, you are bound to find a rogue who will beat all the other prices, but has neither the capacity nor the intention of delivering such prices. His objective is to rope you in and move the process along until it is too late for you to back out. At that point, he raises the price using any of a dozen tricks available for that purpose. Remember: Because the market is constantly changing, you can't hold a broker or lender to a price quote until you lock the prices. A lock is the lender's agreement guaranteeing the prices. Assume That You Can Shop Lender A Today And Lender B Tomorrow Because of market volatility, prices obtained on different days are not comparable. Unless you shop all sources on the same day, you are wasting your time. Solicit Price Information Without Providing All The Information About Your Loan That May Affect The Price Prices vary with numerous borrower, property and transaction characteristics that lenders believe affect their risk and cost. These include loan size, credit rating, type of house, your ability to document income and assets, etc. Unless informed to the contrary, lenders quoting prices assume a set of standard specifications that generates the lowest price. If the specs on your loan differ at all, the price will be higher. For example, lenders assume you are purchasing a single-family house as your permanent residence. If in fact you are buying a condo, or the house is intended as a second home, expect to pay more. Accept a Mortgage Broker's Verbal Assurance That You Have Been Locked With The Lender Some brokers tell the borrower the price has been locked, but don't lock with the lender. If interests rates don't rise between the supposed lock date and the closing date, the broker makes an extra profit. If interest rates spike during that period, which is unlikely but always possible, you're left holding the bag. Don't be afraid to ask for written confirmation of the rate lock. Allow The Price To Float Without An Agreement With The Loan Provider Regarding How The Price Will Be Determined At Closing Some borrowers elect to allow the price to "float" -- change with the market -- until shortly before closing. Such borrowers are told they will receive the "market price" at the time they lock. Few loan providers, however, explain how the market price is determined. The market price at closing should be the price available if the loan were delivered immediately. This is also the price quoted to new customers electing to float on the day you lock. Because the lock price is always higher than the float price, floating should save you money if interest rates don't rise. The reality, however, is that in the absence of an agreement to the contrary, the market price at closing is what the loan provider says it is. And many say that it is the 30 or 45-day lock price, rather than the float price. Assume That The Loan Provider Who Offers The Best Price On One Type Of Loan Will Also Have The Best Price On Another It is common for borrowers to shop the loan they think they want, then change their mind later in the process. For example: *They begin thinking they want a fixed-rate loan, then switch to an adjustable. *They begin thinking they want a 30-year term, then switch to 15-years. *They begin thinking they want a zero-point loan, then switch to 3 points. Such switches may invalidate their shopping because the loan provider with the best price in one loan category may not have the best price in another. One way to avoid this mistake is to retain an Upfront Mortgage Broker (UMB) to shop for you.

Governor Schwarzenegger would veto gay marriage bill !

I Strongly Support him. Please have a look at these pictures, what the poor kids will think, who they should call daddy, and who should they call Mommy? Governor you are right, terminate this bill please. This is gross! What a retarded people!

12 Steps to Starting a Business

2005-09-06T17:32:00.000-07:00

Treasuries fell today as the stock indices had their best session in almost two months. In late trading, the 10-Year Treasury Note was down by 13/32, raising its yield to 4.09%; the Dow was up by 141.87 points to 10,589.24; and the Nasdaq was up by 25.79 points to 2,166.86.

12 Steps to Starting a Business
Step 1: Gain Personal Focus
Starting a business is tough. Whenever we have an idea, others may provoke our self-doubt by asking, "Where will you get the start-up money? How will you market it?"
Your best strategy for redirecting this energy is to create a personal focus that's rooted in your passion. Start by defining your intent, your goal and your purpose. This is the underlying emotional foundation of your business.
There are two forms of intent: internal and external. Your internal intent states the main objective that your business will accomplish in your life; your external intent defines how your business benefits others.
Write down your internal intent, and share it with others. It provides you with direction and self-confidence. When people hear and understand your objective, they become motivated to help you.
Next, record your external intent, describing the problem your product or service solves and who it will ultimately help. People relate personally to benefits, and they'll give you ideas on how to improve your product rather than question its validity.
Most likely, someone else has started a business similar to yours. However, no one has your intent. Gain your true focus, and you will inspire others rather than pique their doubts.
Step 2: Create an Instant Impact MessageWhen most people hear about a new product or service, they immediately ask themselves "How will I or someone I know benefit from this idea?"
People process this question instantly-usually within 10 seconds. To inspire others to help you succeed, you need to develop an "instant impact message" that helps people immediately recognize the value your business offers. Your instant impact message is a brief, powerful message that's based on the benefit you offer to your customers. Benefit distinguishes your business from the competition and makes it easy for people to remember you. They then become part of your sales team as they share information about your business.
Creating a winning message that clarifies your purpose and maintains a specific focus is really quite simple. First, write down how your business helps your customers. Circle any key descriptive words--ones that resonate with your heart. Then use the most exciting words to form a single statement that focuses on the key benefit your business provides. For example, if you own a restaurant, you can use "Healthy food that satisfies any appetite." Use your instant impact message everywhere--at business functions and on your business cards. The more people hear about your business, the more business and ideas you'll generate.
Step 3: Discover What WorksCompanies pay millions of dollars to professional market researchers to find out what people really want and how they want it. You can uncover a wealth of information by taking field trips to discover how your product or service will satisfy people's desires.
Get out of your head, unplug yourself from the computer, and speak with others who have succeeded to discover what really works. The real-world information you gather will save you time, money and frustration.
Visit business owners in your neighborhood and in other cities. Ask them how you can succeed faster and what mistakes you should avoid. Simply ask them to brainstorm with you and share any ideas and strategies that come to mind, without censoring or judging.
In addition, research recent articles written about your industry. A reporter's job is to investigate the marketplace and report the latest trends and best strategies. Learn from them, and uncover new resources, outstanding marketing ideas and new contacts that will help you grow. Don't lose any of your ideas. Purchase a "product notebook," a place to store any information, ideas and articles you collect.
Step 4: Protect Your Idea and YourselfGreat ideas need protection. You don't have to register your business name, logo or slogan to obtain copyright and trademark protection. Protective laws work under the first-use rule--whoever uses an item first owns it. However, these rules work more like "No Trespassing" signs. You must be willing to go to court to enforce them.
A wonderful preventive measure is using a daily planner and creating a paper trail--tracking all meeting dates, attendees and discussions. If necessary, this information can someday serve as evidence in court.
Continue as a sole proprietor as long as possible; this will allow you to test out the entrepreneurial waters without incurring any extra expenses. If you discover any risk for which insurance is either too costly or unavailable, consider protecting yourself by creating an LLC or a corporation.
Consult a lawyer early in the startup process, and obtain his or her advice on how to best protect your business. For great referrals, contact your local SBA office or chamber of commerce.
Step 5: Stop Struggling to Convince OthersInstead, inspire them with a one-page sales script.
When you speak positively about your business, it inspires others to help you succeed rather than question your abilities. Your one-page sales script quickly generates trust by showing key supporters the value you offer and how you will successfully deliver on your promises. In your script, confirm your passion and share your successful experiences by:
Focusing on the benefits: State the name of your business and your instant impact message.
Telling what's for sale: List your top three products or services.
Showing that it works: Provide at least two real-life testimonials--from paying or nonpaying clients who have experienced your work.
Proving you can make it a success: Share a brief biography of yourself outlining why you created your business and your related experiences.
Making it easy to find you: Cite your contact information.
Your one-page sales script becomes the foundation for all your marketing efforts. It can be used to open conversations at networking events or when speaking to potential customers.
Step 6: Conduct a Reality CheckAs you begin developing your business, you will uncover unforeseen threats that may shake your confidence. This doesn't mean you are no longer passionate about your business; it means you are grounded in a new reality. To succeed, don't dismiss any threats. Reaffirm your commitment, and create a strategy to move forward by conducting a reality check.
Review everything you have accomplished, and list any business opportunities you uncovered.
Write down any threats you've discovered, and mark them either avoidable (if there's a way to counter them) or unavoidable.
Create action steps to manage any unavoidable threats by connecting with someone you trust. Ask that person how he or she would overcome the threat and turn it into an opportunity.
Create your own "three rules to live by" that states the key opportunities you will take advantage of and the actions you will take to counter any threats.
Gain confidence by promising to work through any threats you encounter.
Step 7: Use Focus Groups to Test and Improve Your IdeaPassion sometimes clouds judgment. Thinking that you know what is best for your customers is one of the most common mistakes in starting a business. To avoid "selling only to yourself," seek real-world advice by holding regular focus groups.
A focus group gathers together potential customers, friends, family and other entrepreneurs who can provide unbiased, objective feedback on how to improve your business. It's important to obtain these fresh ideas early in the startup process because you can improve your business for a relatively low cost.
Think of your focus group as a business meeting. Open by reading your one-page sales script, and then ask for honest feedback: "How can I improve my idea?" "Is the business name appropriate?"
During the session, keep an open mind and don't defend your business. Write down every idea. Afterward, analyze the ideas, and keep and implement those that are most useful. To continually discover new ways to improve every aspect of your business, hold a focus group once every two weeks.
Step 8: Get Price Quotes From ManufacturersYour business's identity begins with those things that need to be created or produced--such as business cards, menus or a product. To get the best price when requesting information from outside entities, prepare a request for quotation (RFQ).
1. Clarify your idea. Create a detailed example of what you want produced, even if it's only a drawing.
2. Develop a list of manufacturers. Sources include colleagues, the Internet, association lists and store owners.
3. Create a table with three columns. The first column lists your specific requirements, the second shows responses from company contacts, and the third is for evaluation purposes.
4. Send your RFQ to one company as a practice run. Update your RFQ with industry-specific terms. Showing that you are knowledgeable about the industry will lead to better prices. Then send your RFQ to three more companies.
5. Evaluate your responses with a trusted colleague. This keeps your bias at a minimum.
6. Negotiate with your top two manufacturers. This is a business relationship, so make sure you like and trust your chosen partner.
Step 9: Create Your Marketing StrategyMarketing is not about persuading people they need something. It's about telling the right people about the benefit your business provides. You can maximize your resources by using "octopus marketing"--creating one program that reaches lots of your customers. Hit an octopus on the head, and its tentacles stretch out in many different directions. The head of the octopus represents any organization or person who has contact with many of your customers. The tentacles spread out, sending information about your business over and over again. Follow these steps to create a marketing program that works for you:
1. Define your customer. What is the unique benefit you offer? Create a list of customers who need that benefit.
2. Create a list of "octopus marketing" ideas to spread the word. Invite your friends, family and colleagues to provide you with ways you can reach your target customers.
3. Implement your favorite idea. Choose one program you would love to do, because then you will actually do it!
4. Test it. If the idea works, do it again. If it doesn't, try another. Conduct at least three different marketing programs each month.
Step 10: Set Prices for SuccessYour product or service must be priced to entice buyers and cover your overhead, production, distribution, labor and marketing costs. And most important, you need to make a profit. To do that:
Define your personal financial goals. Your goals impact your pricing strategy. Some people want to make a million dollars on one idea. Others want to make $50,000 to help fund their business development activities.
Investigate market trends. Pricing is subject to market forces and consumer demands. Obtain information to help you predict your market in terms of sales potential, growth prospects and trends.
Obtain competitive information. Consumers price shop. Walk into stores, and use the internet to uncover your competitors' pricing strategies. Unless you provide special features for which consumers are willing to pay more, your price has to be competitive.
Cover your cost of doing business. At first, you will be using your "best guess" cost estimates. As your business grows, track your real costs of doing business, and reflect them in your pricing structure.
Step 11: Organize Your Future With Process SheetsProcess sheets define the action steps and resources associated with key day-to-day business activities. They enable you to identify, develop and test your back-end business support systems, saving you time and frustration. Together, they form your "operations manual"--the policies for running your company. Writing your processes down shows people how you will conduct business, which makes it easier for them to offer enhancements. Develop your own process sheets using these steps:
1. Put the name of the process at the top of each page--for example, "customer service" or "order fulfillment."
2. Build a three-column table beneath the name of the process. The first column lists the action steps necessary to complete the process, the second shows the person who is responsible, and the third states the expected time frame for completing each step.
3. On your first sheet, define your customer service process. The steps alleviate your customers' fear of the unexpected, giving them a sense of control and speeding up your sales cycle.
4. Create process sheets for other areas of your business as appropriate. In addition, improve your process sheets by periodically reviewing them with colleagues.
Step 12: Stay Motivated With a Business Action PlanCongratulations, you've reached the last step in our 12-step startup plan. Most startup plans ask you to begin with a business plan. Instead, we've had you take real-world action to create a business that works. But now it's time to put something in writing by creating your business action plan.
Similar to a business plan, the business action plan synthesizes your research and describes your business. However, it also identifies the necessary steps you will take to keep your momentum going.
1. Start your plan by clearly defining your business. State your business's main benefit, and finalize your sales script. (See "Countdown to Startup" in the June 2004 issue for details.)
2. Break your plan into sections by outlining the operational and administrative areas of your business, including legal, marketing, pricing, finance and internal process controls.
3. In each section, explain the work, research and market testing you've completed to date.
4. Conclude each section by specifically stating the next action steps you will take to create results.
Your business action plan continually evolves as your business grows. It monitors and allows you to evaluate what has worked to date--resulting in your continual business success.

Labour Day

2005-09-05T02:53:00.000-07:00

Trip to San Jose was Great!
wedding Party was awsome,Very Classy wedding party,everything was top of the line.I wish for both love birds all the best, and I hope they would visit me in Seattle soon.
Pictures talks for themselves.

Spears Sets Sights on Sin City?

2005-09-04T14:42:00.000-07:00

Britney Spears apparently doesn't have a grudge with Sin City.
Despite having a 2004 trip to Las Vegas resulting in a quickie marriage--and near instantaneous annulment--the pop star is in negotiations to become the next Celine Dion or Elton John, holding down a long-term residency at a casino resort.
Jack Wishna, the dealmaker at the center of the potential engagement, told E! Online Wednesday the pregnant pop star is interested in her very own Vegas show. "I met with Britney, her manager and her lawyers, and we are working on a deal to bring her to the Strip for 'X'-number of weeks in 2007-2008," he says. The venture consultant, who has successfully negotiated big-deal contracts for the likes of Wayne Newton, says a contract is in the works.
While Wishna would not reveal which casino is interested in signing up the "Toxic" singer, he says he is working with a "major Strip property."
"This particular property is looking for a big name that will take them to the next level in terms of entertainment, and Britney would certainly do that for them," he says.
There has been no immediate comment from the Spears camp, but the move would certainly make sense for the pop star, who lives a short flight away in Southern California.
Just as Dion decided to forgo the rigors of the road and focus instead on raising her children while she rakes in big bucks as the headliner at Caesar's Palace, the 23-year-old Spears could still perform without having to travel far from her soon-to-arrive child with hubby Kevin Federline.
Meanwhile, Spears has been logging long hours in a private studio near her new $7 million dollar home in Malibu, laying down tracks for her forthcoming new release, which is not yet titled and without a release date.
Earlier this year, Spears played a rough mix of a new song called "Mona Lisa" on a Los Angeles radio station and said the complete CD might be ready for release by this summer, which seems highly unlikely at this point. Two other tracks that may make the disc include "Ouch" and "Sippin' On"--both of which were recently added to the American Society of Composers, Authors and Publishers' (ASCAP) database.
And if Britney's Vegas deal doesn't pan out, Wishna has a back-up plan. According to the Las Vegas Review-Journal, he's also been trying to convince Madonna to book an extended stint on the Strip.

San Jose ,America's richest City

2005-09-03T14:39:00.000-07:00

I am in san Jose today,Seeing my uncle after couple of months and attending to wedding of someone very special for us.Meanwhile I hear San jose is America's reacest city.

20 richest and poorest: the most affluent counties are in the East, but western cities score well.
There's a reason it's called the promised land.
California can count four of the top ten richest cities in America, according to data released Tuesday by the Census Bureau. In addition, seven of the top ten are located west of the Mississippi, while 9 of the 10 poorest cities in the country are located either on the Mississippi or east of it.
So does that mean the West is getting richer while the East slides into decay? Not quite.
The East boasts nine of the 10 richest counties.
It would be tempting to say that affluence in western cities tends to stay closer to downtown while the eastern elite flee to the suburbs, but demographers at the Census Bureau caution against such conclusions.
The sample of this year's study, which only looked at cities and counties with a population of 250,000 or more, isn't wide enough to draw larger trends. For that, we'll have to wait for next year's study, which will survey all cities and counties with a population of 65,000 or more.
In the meantime, here's a look at how the largest cities and counties stacked up, according to the Bureau's 2004 American Community Survey

So what does ANGELINA JOLIE wear to bed? Perhaps très expensive Italian lingerie. I'm told the lusciously-lipped sex goddess hit the lingerie department at Barney's in New York on Sunday afternoon. With an assistant and baby Zahara in tow, Jolie picked up a matching black cashmere and cotton robe and long nightgown by GRAZIA'LLIANI. Total cost? $1,000.

Microsoft buys Internet phone company

2005-09-02T13:13:00.000-07:00

why we like her?
Trisha Yearwood rose from humble beginnings as a demonstration vocalist for Nashville publishers and songwriters to become one of the leading ladies of contemporary country music, without losing her sense of humility along the way.
why is she famous?
Trisha Yearwood has been scoring huge hits on the country music charts since her debut single went all the way to No. 1 in 1991. She's also had a recurring role on the CBS series JAG since 1998, and recently got engaged to another country superstar, longtime friend and collaborator Garth Brooks

Telco purchase will allow computer-to-regular-phone calling and the ability to compete with Skype.

Microsoft moved to build its presence in the booming Internet telephone market Wednesday, purchasing Teleo Inc., a California company that lets users make calls from their computers to regular phones.
The Internet telephone market is heating up. Leading search firm Google launched an instant message and voice chat service earlier this month to compete against AOL , Yahoo, Microsoft and Skype.
Globally, Skype is the current market leader in Internet telephone service, also called Voice over Internet Protocol, or VoIP. It has 51 million registered users and more than 2 million customers who pay for services like voicemail and connections with outside phone numbers.
Google (Research), Microsoft (down $0.01 to $27.17, Research), AOL and Yahoo (Research) all offer voice calls between computers, but not to outside phone lines.
AOL is division of Time Warner (Research), CNN/Money's parent company.
Yahoo purchased an Internet telephone company called Dialpad earlier this summer, with plans to offer inbound and outbound phone call capabilities that are similar to Teleo's.
Analysts who follow VoIP have long predicted that Microsoft might buy Teleo, in part because Teleo's service is closely integrated with Microsoft products like Outlook and Internet Explorer.
Will Collins, global messenger product manager at Microsoft, said the company hoped to integrate Teleo's offerings into its products by the end of 2005. Microsoft may add "click-to-call" features to Outlook or Internet Explorer, so that users can automatically call a phone number by clicking on it, he said.
San Francisco-based Teleo also offers options to forward VoIP phone calls to a mobile phone or office number, or voicemail that can be emailed to the user. Outbound calls from a computer to a phone number cost $0.02 per minute. Terms of its deal with Microsoft were not disclosed.
Earlier this year, Skype Chief Executive Niklas Zennstrom spoke at a Reuters Telecoms, Media and Technology Summit and said his company had to build its user base as quickly as possible because much larger rivals were certain to enter the market.
"The biggest threat are the portals such as Yahoo and MSN," he said.
Teleo, Google and Skype all use voice-processing software from a Norwegian company called Global IP Sound.

Please Help anyway you can!

2005-09-01T14:20:00.000-07:00

New Orleans Mayor Issues 'Desperate SOS'
Fights and fires broke out, corpses lay out in the open, and rescue helicopters and law enforcement officers were shot at as flooded-out New Orleans descended into anarchy Thursday. "This is a desperate SOS," the mayor said. Anger mounted across the ruined city, with thousands of storm victims increasingly hungry, desperate and tired of waiting for buses to take them out. "We are out here like pure animals. We don't have help," the Rev. Issac Clark, 68, said outside the New Orleans Convention Center, where corpses lay in the open and he and other evacuees complained that they were dropped off and given nothing — no food, no water, no medicine.

Please help !!!

Nothing would be better than helping even
few dollors to these people !!!!

Mortgage rates hit lowest in six weeks
Home loan rates sink to lowest since mid-July on worries over economic growth; more declines seen.
Mortgage rates fell to the lowest level in six weeks as energy prices near record highs made investors nervous about slowing economic growth, Freddie Mac said Thursday.
The average rate on 30-year fixed-rate mortgages fell to 5.71 percent for the week ending Thursday from 5.77 percent the previous week, according to the mortgage finance firm's survey.
Long-term mortgage rates are at their lowest level since the week ended July 16, when 30-year fixed-rate mortgage averaged 5.66 percent.
Last year at this time, the 30-year fixed-rate loan averaged 5.77 percent.
"Market jitters about high energy costs and the spill over into other sectors of the economy have led to a decline in bond yields, which typically means lower mortgage rates," Frank Nothaft, vice president and chief economist at Freddie Mac, said in a statement.
"And speculation that the Federal Reserve may soon take a break in raising short-term rates reduces upward pressure on long- and short-term interest rates."
The 15-year mortgage rate averaged 5.32 percent, down from 5.35 percent the week before. A year ago, the loan averaged 5.15 percent.
Five-year adjustable-rate mortgages (ARMs) averaged 5.30 percent, unchanged from last week when it averaged 5.30 percent. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year.
One-year adjustable-rate mortgages edged down to average 4.48 percent from last week when it averaged 4.56 percent.
At this time last year, the one-year adjustable-rate loan averaged 3.97 percent.
"As if all that wasn't enough, the devastation caused by Hurricane Katrina and the echo effects on future energy prices in the U.S. may mean that mortgages rates will fall even further in the coming days ahead," Nothaft said.

Jobs: OK today, worse tomorrow

2005-08-31T13:16:00.000-07:00

Mortgage Rates were down today, 30 yrs fixed rate was 5.25%, I havent seen this rate in the last 6 weeks!

Gossip:
How do you get EVA LONGORIA to go onstage in a barely-there outfit from the PARIS HILTON school of fashion? Peer pressure. I'm told it was a last minute decision for Longoria to wear that skimpy pink SHAY TODD bathing suit while introducing MARIAH CAREY at the MTV Video Music Awards. When her stylist, ROBERT VERDI, suggested the suit, Longoria thought he had, well, lost his mind. On Saturday, with the help of two of Longoria's best buddies, Verdi was able to convince the "Desperate Housewives" starlet to suit up. She didn't even try it on until a couple of hours before showtime. "She's beautiful," Verdi told me. "It was Miami. It was hot and the VMAs had a water theme. And it's not like we don't see her like that on the show." The suit's from Todd's current collection for $175 (http://www.shaytodd.com/) and what kind of shoes do you wear in such a bikini? Le Silla, of course. Price? $910!

Jobs: OK today, worse tomorrow
Oil prices didn't deter August job growth, but Katrina's impact could soon be felt.
The labor market might have weathered August despite record-high oil prices, but the devastation of Hurricane Katrina will take a big bite out of job creation for months to come, analysts said.
"I think Katrina's put the kibosh on this whole thing," said John Silvia, chief economist for Wachovia Bank and former senior economist for U.S. Senate Joint Economic Committee, referring to the job market. "You're going to lose so many jobs. It's going to take time to get this all back up."
On Friday the Labor Department is set to release its August employment report, with the consensus forecast at 190,000, down from the 207,000 new jobs reported in July. The report is based on a mid-month survey, and will not reflect the impact of Hurricane Katrina, which slammed into New Orleans on Aug. 29, near the end of the month.

Home features most in demand

2005-08-30T22:28:00.000-07:00

Home features most in demand

The strength of the housing market has not just driven an increase in the number of homes being built and renovated, it is also influencing the design and appearance of those homes.
According to a new survey from the American Institute of Architects, the second quarter of this year remained a strong one for most of its members. More than 39 percent reported improved billings compared with the first quarter, with only 9 percent reporting lower billings.
And the future looks as bright: 42 percent of the respondents have experienced a rise in inquiries for new work during the corner and only 10 percent said they had seen fewer potential new customers.
The average architectural firm had a work backlog of 5.4 months during the first quarter, up from 5.2 months the quarter earlier.
Regionally, architects in the South report the strongest business conditions with 52 percent of architects there having more work in quarter two. Weakest was the Northeast where only 27 percent reported increased billings.
Popularity contest
According to the report, remodeling was the biggest source of business for architects during the second quarter, with additions and alterations and kitchen/bath projects leading the way.
The tastes of Americans continued to evolve, changing the popularity of specific home features. Residences are getting less formal and the Institute reported a marked decline in the kind of upscale entryways and foyers that had been much in demand in years past.
Less popular too, despite growing auto ownership nationwide are giant garages with bays for three or more cars.
Home offices led the list of amenities that have grown in popularity. The difference between the percentage of architects reporting increased demand for this kind of room minus those reporting decreased demand came to 47 percentage points.
Hobby/game rooms (30 percent difference); mud rooms (26 percent); and media rooms (24 percent) also showed increased popularity.
Another major home feature more Americans want is living .

KELLY CLARKSON made a splash with her water-soaked performance during the VMAs. And her wet and wild ways continued into the wee hours. Shortly after arriving at SNOOP DOGG and The Firm's Level Vodka post-awards party at Casa Casuarina at about 2 a.m., Clarkson dove into the private club's reflecting pool. Within minutes, about 40 other people hopped in, too. The place didn't clear out until 7 a.m. And the night before, I hear USHER dove into the pool with CHRISTINA MILIAN during the Boost Mobile Villa bash for director DAVE MEYERS.

MBA Warns of Real-Estate Bubble

2005-08-29T10:57:00.000-07:00

The Mortgage Bankers Association has released a report on the housing and mortgage markets covering issues such as the concern over a real estate market “bubble” and the growing use of non-traditional mortgage products. The report cited a number of “market-level risk factors” as indicators of a “bubble” in a particular area, including a decline in employment, a significant amount of speculative investment, an instance of condo sales as a large percentage of total sales, a large proportion of products that “expose borrowers to potentially substantial payment shocks,” and other products that help maximize purchase power.

Rates on 30-year mortgages declined for a second straight week as low mortgages continued to fuel the housing boom.
Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages fell to a nationwide average of 5.77 percent this week, down from last week's 5.80 percent. Rates have fallen for two weeks after hitting a four-month high of 5.89 percent the week of Aug. 11.
Analysts said the continued low mortgage rates were helping to keep housing markets red hot. Sales of new homes hit a record level in July while sales of existing homes came in at the third highest level in history.
Even with the two consecutive declines, analysts said that rates should resume rising in coming weeks as the Federal Reserve continues its campaign to nudge rates higher as a way of making sure that inflation does not get out of control.
Rates on 15-year, fixed-rate mortgages averaged 5.35 percent this week, down from 5.40 percent last week.
One-year adjustable rate mortgages edged down slightly to 4.56 percent from 4.58 percent. Last week's level had been the highest in more than three years.
Rates on five-year hybrid adjustable rate mortgages averaged 5.30 percent this week, down from 5.34 percent last week.

What To Say To Meet Women Anywhere

2005-08-28T11:29:00.000-07:00

breaking that ice like a pro

Now, this is a pretty good -- and important -- question. And my answer is: This all depends on where you find yourself and what you see the girl doing.
Sorry if you were looking for a guaranteed line that works in every situation with every woman, but the real truth is this:
Knowing what to say to a woman is utterly and totally dependent on what you can observe about that woman. It's not so much a matter of what to say.
No, the real secret of opening women up is: knowing what to observe, knowing what to notice and knowing what to get curious about.
Now, this is good news. Especially good news for those of us who aren't flashy conversationalists, super-bold or super-witty.
Why?
Because it's your curiosity and what you observe about her, uniquely, that will provide exactly what you need to say.
apply these techniques everywhereThe other issue is context: Where are you meeting her and who else is around?
You see, the approach to opening her up might differ a bit if she is at a coffee house, quietly studying, as opposed to in a loud restaurant or party, right? Why?
Because the context she is in and what you notice about her is going to be different.
If she's studying, and you notice that she's having a hard time (she's talking to herself out loud or just seems to be thinking out loud in her head), it would not make sense to walk up and ask her opinion about the great band that is playing or where she bought her cool bicycle.
So, I will say it again.
The most important thing, first and foremost, is not what you say, but the context she is in, and what you can observe about her and the setting she is in.
a word on complimentsNow, many guys ask me about compliments. Should I give them? Is it a good way to first open up" talking to a woman If so, what should I compliment?
Okay. I'll repeat: It depends on the context, where she is, what she is doing, and what you notice and can observe.
Now, let's say I notice something about her that I do find worth complimenting. My rules for complimenting are as follows:

1. No sexual content in the compliments. That means I don't compliment on her great breasts, great legs or great butt. No woman (read: no halfway sane woman) wants a drooling lecher.
2. All compliments are to be delivered with good eye contact (in fact, any openers are delivered this way), with a smile on my face and in my eyes (I sort of make them twinkle a bit), and delivered with a "matter of fact" voice tone.
This means I don't overdo it with my tone of voice. The compliment is delivered, as a matter of fact, with no concern on my part whether she will accept it, reject it or anything in between.
By being "matter of fact" and okay with it, no matter how she first responds, I'm sending an unspoken and also very attractive message about how I feel about myself and how I move through the world; that I take responsibility for how I am going to feel about myself, my situation and the events and people in my world.
Now, trust me. When you come from that place, and add in a touch of humor....
...Almost anything you say will get a good response
Okay. Back to compliments then. Generally speaking I will limit my compliments to:
1. How they carry themselves or how they move. I enjoy a woman who moves beautifully or who has great posture. I will tell them so, as follows, "I just wanted to tell you... I think you have perfect... posture. You just carry yourself beautifully."
2. How they are dressed. I like to compliment on style. So I will say, "I just wanted to tell you... I admire women with class and style, so I had to say 'Hi.'"
A little note here: This is what I call the "implied" compliment. Notice I didn't directly say I thought she had class and style. I said I admire women who have it. That means she has to actively interpret it as applying to her, using her own imagination.
Remember the No. 1 rule in Speed Seduction®: Always use your language to capture and lead a woman's imagination, and her emotions (and desire!) will follow.
3. I will compliment on their "energy." I know this is a New Age, California kind of thing, but women are into "energy" and "vibes." It doesn't matter if you believe in it or not -- although I hope one day you will.
The important thing is, most women believe in it.
So if I notice that a woman has a calm, radiant, happy demeanor, I will say, "I just wanted to tell you... I think you have a beautiful energy about you, and it just made me have to say 'Hi.' I'm..."
I could go on about this, but remember the most important things: What you can observe about her and what you can get curious about will always supply you with the best things to say, far more than any canned line. And how you deliver what you say sends a supremely powerful message about how you feel about yourself, which in turn supercharges the actual power of the words.

Protecting Yourself From a Housing Bubble

2005-08-27T04:01:00.000-07:00

The run-up in home prices in many markets around the country makes it a matter of when and where, not if, the housing bubble bursts. Consider this comment from economist Joel Naroff after new-home sales hit yet another record high in June, "Welcome to our worst nightmare. It is the housing market."
In that vein, we cannot ignore the potential for a housing bust any longer. Like procrastinators living in a hurricane-prone area that eventually scramble to stock up on supplies as a storm nears, it is time to look at some strategies homeowners and home buyers can adopt to weather the housing market storm.
If you live in Ohio, you're probably wondering what all the fuss is about. But if you live in California, New York, Massachusetts, South Florida or Washington, D.C. -- and plenty of people do -- it is all anyone ever talks about. If you call one of these or many other frothy markets home, unless you've lived in the home long enough to pile up substantial equity, you have reason to worry.
So let's establish some frontline defenses against a housing bust busting your financial picture.
First, don't borrow against home equity. This means no taking out of home equity lines of credit to pay off credit card bills, no cash-out mortgage refinancing to fix up the house, and, by all means, no tapping home equity to pay for summer vacation. This is a drastic measure, I know, but these are desperate times, my friends. Home equity has a much lower after-tax cost than credit card debt or other forms of debt, but the cushion provided by home equity will be invaluable when home prices decline. The bottom line on debt consolidations is that it just shifts the debt, it doesn't reduce the debt. If you managed to get yourself in a little too deep on the credit card debt, it's time to figure out how to get out of it. And not by relying on home equity borrowing.
The second rule is to build equity through principal repayment. Interest-only and option ARM borrowers, I'm talking to you. Every month, a larger portion of your monthly payment should be going toward reducing the principal on your loan, and if it isn't, then you're doing something wrong. This leads into my next point.
Making steady progress on paying down the balance is largely dependent upon having a loan with a fixed rate. Therefore, we have rule No. 3: It is time to move away from adjustable rates. There is nothing worse than the payments increasing when the value of the home is declining. This means refinancing out of the short-term adjustable-rate loan that pressures your budget and retards the process of building equity through principal repayment as interest rates climb and getting into a fixed-rate mortgage or hybrid ARM where the fixed-rate period is no less than seven years. Why so long? I'll come back to this point later on.
First-time home buyers are especially vulnerable to a downturn in home prices because of minimal down payments and the lack of established equity that buyers rolling over from a previous home would have. Small down payments and large loan balances increase the likelihood of relying on interest-only loans and the like for affordability. So the message to first-time buyers, and rule No. 4, is this: Make a larger down payment. If you don't have the scratch for a down payment and you can't afford to borrow with a fixed-rate mortgage -- don't buy. It's that simple.
The fifth rule is to live in your home for the longer haul. Whenever you're upside down on a car because you owe more than it is worth, the cure-all is to literally drive your way out of it by keeping the car until the loan balance falls below the market value. Be prepared to do the same with a new-home purchase. If your feeling is that you're going to move in three years, it is time to make plans for other contingencies. Can you afford a mortgage that offers a fixed rate for a longer period, such as a 10/1 ARM or a 30-year fixed-rate mortgage? If not, continue renting. The transaction costs of buying and selling are steep, and any downturn in price over such a short holding period will clobber the unsuspecting buyer.
The home is first and foremost where you live. Get past the "my home is an investment" mentality to protect against the bursting bubble. The home is indeed an investment, but a long-term investment. Treating it as such will vanquish many of the worries about a bursting bubble.

Most expensive housing markets

2005-08-26T16:55:00.000-07:00

Soaring housing prices in the United States have created a real estate bubble that will likely burst early next year, Princeton University economist Paul Krugman said Thursday.
"I'll give you a forecast which might very well be wrong, but I think it will burst in the spring of next year," he said at a derivatives conference in Brazil's winter resort of Campos do Jordao.
"I would be surprised if it doesn't burst in the next three years," he added.
Krugman said skyrocketing U.S. housing prices were supported by large -- and somewhat "odd" -- capital inflows from emerging market countries, such as China, which has accumulated huge holdings of U.S. Treasury debt, helping keep long-term interest rates abnormally low.
"Americans pay for their houses with money they borrowed from the Chinese," he said.
In costly areas of California, like Orange and San Diego counties, the inventory of homes on the market is slightly larger than a year ago and analysts say prices are not rising as fast as they were in the past.
Most expensive housing markets
An expected decline in U.S. housing investment would be part of an economic adjustment process which could include the weakening of the dollar, higher U.S. exports and the reduction of current account deficits in the world's largest economy, Krugman said.
"This is how we would like to see it happening -- smoothly -- but there are many moving parts and they're unlikely to move at the same time," he said. "So it's not going to happen unpainfully."

The Queen of Bosphorus

2005-08-25T16:55:00.000-07:00

The Queen of Bosphorus will have a new Show starting fall

Dow Ends Up 16 Despite Record Oil

Stocks managed modest gains Thursday as investors saw a series of corporate acquisitions as a chance to pick up bargains in an otherwise difficult market. Another record high for oil prices muted the gains.

Champions League Draw Result:
Chelsea will Face Liverpool, Bayren Munich will play with Juventus, Arsenal-Ajax,,,Barcelona-Bremen......Manchester United with Villareal,,,, AC Milan-PSV,,,,,Real Madrid-Lion......Inter Milan-Porto would be sofar the good games, we have to wait for next round!
Who do you think would win the cup this year? I can say either Chelsea or Barca
STEVEN GERRARD picked up an award for Europe’s Most Valuable Player in Monte Carlo yesterday.

Oil hits record high

2005-08-24T17:42:00.000-07:00

Frank Lampard Scored 2 beautiful goals along with Drogba and J.Cole to bring a 4-0 Victory for Jose Morinio's men.Chelsea showed the real power in English Primier , while Arsenal beated Fulham 4-1

InterMilan tied with Shakhtar Donetsk , while Everton said Good bye to Champion's Cup this year after losing to ViaReal.

In International Friendly Iran won against Libya 4-0.

Crude climbs on drop in gas inventories, fears that tropical storm may hamper production.
Oil prices surged to record highs Wednesday after an unexpected drop in gasoline stocks added to worries that a gathering Caribbean storm could knock out crude supplies to the United States.
Light, sweet crude for October delivery settled at $67.32 a barrel, up $1.61, after spiking as high as $67.40. Just before the Energy Information Administration released its inventory report, the contract was up 49 cents at $66.26.
The previous record highs were set Aug. 12, when oil traded as high as $67.10 and settled at $66.86 on the New York Mercantile Exchange.
Crude oil prices jumped following Wednesday morning's EIA report that showed oil inventories had risen 1.8 million barrels from the previous week, while motor gasoline supples fell more than expected.
"To me, this looks like continuation of crude oil escaping the gravity of reality," said Michael Darda, chief economist with MKM Partners, noting that supply disruption fears in different parts of the world are to blame for record prices.
"It's too simple to say that higher crude will hurt the economy -- if there is a supply disruption that will definitely harm things, but supplies are growing rapidly and we have crisis demand holding up crude prices," he said.
While prices are at record highs, adjusted for inflation they are still below the levels that crude oil prices hit in the late 1970s and early 1980s.
Tropical Storm Katrina's gathering strength over the Bahamas has been of particular concern among traders, who fear that the storm will take aim at Florida's southern tip and the oil producing Gulf of Mexico, which accounts for up to a quarter of U.S. oil output.
A temporary halt in crude exports Tuesday in Iraq's southern Basra terminal and recent production cuts in Ecuador have also helped push crude prices higher.
American consumers, however, are focused on prices at the pump.
The average price of a regular unleaded gallon of gasoline within the United States on Wednesday was $2.607. Pump prices hit a record of $2.614 a gallon on Monday.
Gasoline consumption among U.S. drivers, however, continues to run high, averaging 9.5 million barrels a day, or 1.6 percent higher than last year, according to the EIA report.
American motorists may get a reprieve after Labor Day, which typically signals the end of the peak driving season and demand for gasoline typically tapers off.

Western states tops in auto theft
Report: Of top ten places for stolen cars, all are in the West -- seven in California.

New home sales hit record

2005-08-23T18:10:00.000-07:00

Sales post surprising jump despite rising mortgage rates, sparking debate over housing strength.
New home sales posted a surprising jump in July, the government reported Wednesday, topping Wall Street forecasts a day after a separate report sparked worries that the best days were past for the nation's housing market.
Sales of new homes jumped about 6 percent to a record 1.41 million annual rate in July from a revised 1.32 million sales pace in June, the previous record, the Commerce Department said. Economists surveyed by Briefing.com had forecast that sales would come in at a 1.33 million rate.
The reading follows a report from real estate agents Tuesday that showed existing home sales slowed more than expected to a 7.16 million annual rate in July from a rate of 7.35 million in June, which also had been a record.
Still, despite the rise in new home sales last month, the median price for a new home fell 7 percent from June to $203,800, the third straight month-to-month decline, and also fell 4 percent from a year earlier -- an unusual drop in year-over-year prices.
Last month's drop means the median price is off 11 percent since hitting a record of $229,300 in February. Half the homes sold cost more than the median price and half cost less.
Michael Carliner, economist with the National Association of Home Builders, said that while some building materials, primarily wood products, have seen declines this year, most of the decline in median prices is due to the types of new homes being sold. Somewhat smaller homes now make up a bigger percentage of homes being built, he said.
"I think it's more the mix of homes being sold than anyone cutting prices," he said.
New home sales, while a smaller market than existing homes, are more closely watched because they're more of a leading indicator.
That's because new home sales numbers are based on signed sales contracts while existing home sales are tallied from closings, which generally occur one to three months after a contract is signed.
Mortgage rates in July rose to an average 5.70 percent for a 30-year fixed-rate mortgage, according to a survey by Freddie Mac, up from the 5.58 percent rate in June, when rates were at a 15-month low.
But the rise apparently did not slow people signing contracts to buy new homes. Rates have risen further in August, according to weekly surveys, reaching 5.89 percent in the week ending Aug. 11 before slipping back to 5.80 percent last week.
"It's not unusual when you first start to see the beginnings of a rate increase, that the immediate effect is an acceleration of sales as people try to lock in the lower rates," said Carliner.
New home sales are also important to the construction industry, and the overall economy since buyers often need appliances, lighting and other furnishings.