Can an Average Person Buy at the Bottom?

Many people keep waiting for the housing market to bottom. Lending guidelines are getting stricter as prices continue to drop. As prices continue to drop more investors are coming in to the market to snatch up inventory. Well at least rent has seemed to reach its limit but still doesn't change the fact that paying rent is just as bad as a negative amortization loan. You will never have equity from paying rent and that is on guarantee I can make.

If you are thinking about buying speak to a professional that can sit with you and analyze your situation. I am not just talking about finances but look at your short term and long term goals, is your family increasing or are you going to have kids leaving the nest. A good real estate professional will consider everything about you before they advise you whether or not you should buy.

Stay positive and remember our economic cylces always have these dips. Some longer than others but in the long run we always trend up. Keep your chin up and smile cause it is about to get better.

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Scam Artist

First they started on Craigslist and now I've even been contacted by one on ActiveRain. I'm sure all of the social media outlets are next. Does anyone really fall for these scams where they have millions in a bank and they need you to get it out and they're willing to part w/ 10% to 20%?

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Executive Compensation Limits

Companies taking bailout money now have limits of $500k/year for senior executives. Some argue that now they will not be able to attract talented executives. They forget that the current executives were getting paid a lot and they were terrible. I guess everyone skipped the class on risk management.

Not only do they want our money but they want to do whatever they want and not answer to the ones lending them this money. If you want to run your company your way then do not ask the taxpayer to bail you out. Go to your shareholders and ask for more money.

Congress do you now see what you have started. Take the money back and let a new set of entrepreneurs supply the demand that is left when these companies fold.

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Tax Shelter

Well it's that time of the year again. The fifth season that everyone dreads, tax season. We begin to gather up all the statements that we have received and some us even begin to dig up receipts and question what we can write-off. Are those Adidas I bought a write-off? I am sure everyone knows at least one person who thinks they can write off personal items. The only personal item, that I could think of, that can be used as a tax shelter is your home.



The home itself is not a tax write-off but the mortgage interest and property taxes associated with the home are tax write-offs. This tax season take the time to sit down with your tax preparer and ask how you can benefit from paying mortgage interest instead of rent. The low prices of homes now has made homes affordable once again and in some cases you can have a mortgage for less than what you pay for rent. This is a case by case basis so please do not write me to tell me that there is no way that you are going to move out of an apartment in West Los Angeles and find a home in the same area with a mortgage payment that is equivalent, of course not you have to find a home in another area. Do not get caught up in getting your taxes done and then focusing on how much you are getting back but focus on how much you paid total. So many times I hear someone tell me that they have a refund of $4000 coming to them and when I ask well how much did you pay total, they do not know. They could have had $20k deducted from their check and do not realize that they actually paid $16k in taxes. Also ask about the federal housing tax credit. You can also get more information at http://www.federalhousingtaxcredit.com/faq.php.



For those of you who have stuck it out in your homes and are looking for even more tax shelters, consider the tax credits that are available for making your home more energy efficient. You can visit http://www.energystar.gov/ for a list of these credits. During these tough economic times you can also take advantage of cheaper labor and more competitive pricing.



Remember if you do not have the kind of tax preparer that will talk to you then switch. There are plenty of CPA's and financial advisors that would be more than happy to sit and talk with you. Final note, these are just suggestions. I am not a CPA or licensed financial advisor. My real estate license does not make me a professional in those fields so please consult with a licensed professional. Feel free to call me if you need a referral cause that I can do and after years of networking I have a few good ones up my sleeve or on my pda.

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Babyback Ribs

I have a trip coming up to St. Louis and I've been put in charge of finding the best babybacks. Any suggestions?

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Babyback Ribs

I have a trip coming up to St. Louis and I've been put in charge of finding the best babybacks. Any suggestions?

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We Can All Learn from Orphan Annie

Left at an orphanage were she was put to work by a drunk did not stop Annie from being positive. Many of us are taking a beating because of our current recession. Some have lost their life savings because of fraud. We've had two billionaires commit suicide because they could not handle the pressure. If we look back at our history as a nation one thing we know is that it always rebounds and new opportunities are created. Just like Annie says "the sun will come out tomorrow".



We should not allow the negative news crush our dreams and vision. Every recession has produced opportunities especially for those that have a definitive purpose. We all just got wiped out on this wave that saw three awesome years in the housing market and so we spent our money like there was no end. Well now we have to get back on our board and paddle out to catch another wave. As we do that we need to remember the lessons from our wipe out. Each one of us has our own purpose and some of us actually write down our goals and take action. We are then ones that will find the opportunities in the next wave and create employment. Some of the industries that will create employment are renewable energy, health and wellness, and green homes. Trust me a lot of the homes out there have outlived their life expectancy. These homes need to be outfitted so that there's a demand for them. I see some jobs for green consultants.



Business cycles happen and they happen so that we can reinvent ourselves. Americans are innovative and productive people. Capitalism is what attracts these people and we must preserve our capitalist society. Government should protect us from those who commit fraud by punishing them to the full extent of the law. We will get over this recession soon. Just keep your head up, continue to educate yourself, and write down your goals and a plan to achieve those goals. The sun will come out tomorrow.

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