To back track to some much earlier topics:

Those looking to invest. If you need to stay very liquid, treasurydirect.gov has 4 week treasury bills that lately are over 5% — and as someone else noted- banks are offering good interest rates, too.

as for REOs. When the bank takes a property at a foreclosure, they pay a nominal ($100 in NJ) amount.

Third party buyers (aka “vultures”) are usually professional RE investors who (of what I have seen) are a scary bunch. I saw a guy who probably got burned on a prop in Saddle River — “won” it at auction for 1.25M in March 06. The upset price was in the mid 400K range. I saw he had it listed for 1.45M (Friedman RE in Bergen) I don’t know if he ever sold or recouped his money – maybe those with access might know: it’s vacant, so I don’t know if I should disclose the full address 7* Woodcliff Lake Rd.

At foreclosure sales there is a senior lien holder — usually the mortgage company. Almost all liens (secondary mortgages, contractors, others owed money) are junior to them with the exception of municipal and federally owed monies. The “upset” price is the amount usually owed to the senior lien holder. If the prop is worth less than the upset price – usually no one wants it and it gets “sold” to the bank for what’s owed and the token $100 (in NJ.)

If a junior lien holder shows up for the bidding and has a significant interest (a lot of money owed) in the prop, they may bid to push the price up: any $$ left over after the senior lien holder and sheriff’s fees are paid go to the junior lien holders.

Just some info on FKs.

I’m seeing a LOT of re-listings with new 237—- numbers on gsmls.

WOW… a cameo appearance from BooYaBob.

and finally Thanks!!! for all the car buying info…what an awesome resource.

and…jb, for your anesthesiology relative: If not constrained by family, etc, locum tenens work (temporary doc work) is hugely lucrative but involves a lot of travel and a good accountant.

sl

I am moderated yet *again~*

sl

http://www.hobokenx.com/html/modules/newbb/viewtopic.php?topic_id=7023&forum=5&post_id=73631#forumpost73631

In my experience, that’s precisely what the most successful IT offshoring engagements consist of.

We are completing a complex pilot project where much of the development was to be provided from India. They have proved unable to build the plan and much of the work has been pulled back here to try to meet the timeline. The develpers we deal with seem like children; just no initiative at all.

Another major part of the difficulty is the time difference. This kept delaying progress as the ‘experts’ there made little effort to discover the causes of repeated failures in their code. Finally, a line by line marathon code review by one of our VPs located the problems.

The MDs are starting to look at cheap domestic locations and captive shops as an alternative.

There are serious bonuses available for those willing to locate overseas to handle these projects.

Perhaps highly structured by-the-book development efforts can be successfull, but when it comes to high-demand, short-timeline , fast-turnaround development, forget it.

I find the suggestion that management will be offshored very funny. That is probably the one area where offshoring might yield better results.

http://www.crainsny.com/apps/pbcs.dll/article?AID=/20070212/FREE/70212009/1048

The number of homes in foreclosure rose 18% in the last six months of 2006 compared with the same period of 2005, according to data from RealtyTrac. More worrisome is the fact that filings tabulated by Profiles Publications show that 100 homes in both Brooklyn and Queens are entering the foreclosure process each week — double the numbers of a year ago.

We want to, but don’t need to.

The top reason to move:
… we simply wont have room for any wedding gifts

There are other, less important reason – live in a noisy area of brooklyn … dont like having a landlord … annoyed that we dont have enough space … dont feel like we have enough room to entertain guests …

You smoken some bad grass? Why are you so behind the 8 ball? Were you sleeping during class in your college days?

Yikes.

SAS

What is the final story? Some us have to work in the morning (just kidding).

SAS

You’re in a staring match with the collective owners of New Jersey. Who will blink first?

Read my post #155 about tax equivalent returns and such. That’s the only advice I can offer. That hsbdirect account offers 5.31%, so that’s a 6.2% increase in interest before taxes over your 5%. I wish I had 300K. Feel like being a VC with your down payment?!

jason b

And now I’m seeing prices still not falling. I would love to own again (bought and sold – not technically a flip, but close – in Fla a few years ago), but the soon-to-be wife doesn’t see prices coming down far enough.

Which sucks.

We’re looking at 450k houses now and aim to pay about 350k-375k max come this summer. We’re definitely not going to over-extend ourselves, in case we want to have kids or i want to pursue a freelance writing career.

Come on owners … lower your prices! Don’t you need to cash out?

First of all, why is data entry being lumped together with software engineering and programming? Given the huge skill differential between data entry staff and skilled programming staff, I suspect this may have been the only way for the author of this article to make her point sound as extreme as she wanted it to sound.

Secondly, duh. Of course these areas are going to lose the most jobs. Every large employer of IT staff I’m aware of in this area is in the midst of two concurrent shifts – one of IT jobs overseas and the other of IT staff from NJ to less expensive states. I see it everywhere.

That said, there are still high-paying IT jobs in New Jersey for people with experience. But there are a lot fewer entry-level IT jobs. They’re almost gone. Not sure what to make of that.

Do you know of any? Have over 300k sitting in a vangaurd account, but its all for the house. I am not sure if this is the right way to go. But want to keep the money safe and ready to use. Do you or anybody else have any suggestions. By the way i have been a reader of your blog for over a year and have followed the advice from it. And want to thank all the regulars for that.
Thank you.

Congratulations. You didn’t ask, but I’d suggest that you have a talk with a good financial planner.

jb