From the Star Ledger:
N.J. Dems outline proposal allowing towns to turn foreclosed homes into affordable housing
Two senior Democrats today outlined a measure to let municipalities and a state corporation buy foreclosed homes and offer them to low- and moderate-income residents in an effort to increase the supply of affordable housing and reduce the number of vacant houses.
The bill (S1566), which was introduced last week by Lesniak and state Sen. Barbara Buono (D-Middlesex), would form the New Jersey Foreclosure Relief Corporation — with a five-year life span — to buy foreclosed homes.
Under the proposal, municipalities where the houses are situated would have 45 days to decide whether to buy the houses through the state’s $268 million affordable housing trust fund. If they did, they would get a two-for-one credit against their affordable housing obligations.
Part of the financing would also be provided by $75.5 million the state is expected to get from a federal and state settlement over an investigation into allegedly abusive foreclosure practices by the nation’s largest mortgage providers.
“It’s so much more than housing and boarded up homes,” state Sen. Raymond Lesniak (D-Union), chairman of the Economic Growth Committee, said at a news conference. “It’s a drag on our economy. It’s a drag on property values in neighborhoods. It’s a drag on peoples’ wealth, which is then a drag on their consumer confidence, which is a drag on our economy.”
If municipalities decided not to buy the vacant homes, the corporation would be able to purchase them through federal and state financing sources and deed restrict them as affordable housing for three decades.
The corporation would also be able to issue bonds to buy and sell vacant foreclosed houses with the aim of selling them at market rates.
Assemblyman Jerry Green (D-Union), chairman of the Housing and Local Government Committee, said he also planned to introduce a version of the measure. “I want to make sure government and the nonprofit organizations have a big say in this process,” he said.
Lesniak said the measure, which will be taken up by his committee Thursday, would create more than 10,000 new affordable homes, though he conceded it would not solve the state’s tangled affordable housing policy.
So is the adjustable mortgage reset/recast problem completely dead at this point? Poof? Gone? Worry no more?
From HousingWire:
Nearly every single refinance goes into fixed-rate mortgage: Freddie
More than 95% of refinancing borrowers chose fixed-rate loans in the fourth-quarter of 2011, Freddie Mac said in its quarterly product transition report.
The GSE said refinancing borrowers overwhelmingly continued to prefer fixed-rate loans even if their original loans were adjustable-rate mortgages.
Of those borrowers in a 30-year, FRM, 43% decided to refinance into shorter loan terms of 15- or 20-years, Freddie’s report said.
Meanwhile, 58% of borrowers with hybrid ARMs moved into fixed-rate loans during the fourth quarter, while the remaining 42% chose to refinance into the same type of loan product they held earlier.
“Fixed mortgage rates averaged 4% for 30-year loans and 3.30% for 15-year loan products during the fourth quarter,” said Frank Nothaft, vice president and chief economist for Freddie Mac.
Borrowers wanting lower refinance rates were able to get them even when shortening their loan terms in the fourth-quarter.
Whitney’s home still up for sale? Doesn’t anyone want to live in Mendham? Only $139 a sq/ft, bargain!
From the Real Deal:
Whitney Houston’s New Jersey home up for sale
Whitney Houston’s New Jersey home is being offered in an off-market deal for $1.75 million, International Business Times reported. Robert Cross of CarProperty.com is offering the 12,561-square-foot property, at 22 North Gate Road in Mendham Township, N.J.
The mansion was first listed for $2.5 million in 2009, and was later taken off the market. It was re-listed just last month at Kienlen Lattmann Realtors for $1.75 million, the paper said.
The five-bedroom, five-bathroom home was the site of Houston’s brief reality show with then-husband Bobby Brown, called “Being Bobbi Brown.”
Interesting!
Letter to the Editor of the Daily Record:
Housing bubble could not last
I bought my house 20 years ago. It slowly appreciated in value in the 1990s. Then, in a span of maybe five years, the value of my house tripled. Wow. Where did that come from? How many felt in their gut that this was not normal, even with the media talking heads shouting that there is no housing bubble?
Many were amazed at their sudden wealth thinking the party would go on forever. Many ran up credit card debt to buy, buy, buy things they could not afford and much they did not need. Some took equity out of their homes and ploughed it into the soaring stock market. They experienced the most painful disintegration of their assets a few years later, especially those who panicked and sold stock during the plunge leaving little to recover when the market came back.
Blinded by greed, many ignored warnings in the media. News abounded about risky arrangements like interest-only mortgages, no down payments, no credit checks. It was pretty clear that the financial industry was gaming the system, even if the more reprehensible facts were not yet known. Less clear was that the government removed regulations and stepped up pressure for them to sell mortgages to those who should not have them. What is now so stunning is that the many who should have seen the train wreck heading our way were so completely tuned out.
New TV shows about flipping houses were the rage and investment in real estate soared. It was the Wild West, anything goes. Many were jumping on the bandwagon and raced to grab fool’s gold. An unemployed colleague in California broadcast an e-mail thrilled about how he was now selling mortgages, saying how easy it was for anyone to do. “Everyone’s doing it.” He offered to send us the facts and we, too, could make fast money.
The rest of us get to buy unaffordable homes. All pigs is equal, except some pigs are more equal then others.
Good Morning New Jersey
Do you think any of the rich municipalities will let the foreclosed homes become affordable housing? It’s going to be “not in backyard” mentality. The towns that are poor will be saying go ahead deed restrict them as affordable housing, everbody else around them is in the same boat.
grim (2)-
Between Whitney in Mendham and Mike Tyson in Bernardsville, we had quite the RE market for crackhead celebrities at one point.
Michael Vick nearly bought a house up the street from me. That would’ve been the showstopper.
Mike – The program will largely be self selecting against operating in high end towns. The simple fact is with a limited budget, they won’t be buying $1m+ foreclosures when they can get perfectly adequate housing for 1/3rd of that (or even less).
Foreclosures in the higher-end towns are still on the rarer side, and there tends to be decent demand for them as a value play once they go REO.
Interesting piece over at CR:
FHA REO Inventory declines to four-year low in December
Nom – : )
I have been watching a couple houses rot here in Morris County that would not have been on the Market less than a week in 2005. They are big enough to turn into multi family units : )
Good morning , suckers, uh, people. Remember, spring is getting ready to spring forth and that means just one thing: It is a GREAT time to over-spend on real estate. Step right up, and don’t miss this opportunity to dump some of your hard-earned cash into a declining asset. Your neighbors have done it. Your friends and relatives have done it. What are you waiting for. Buy now or be solvent forever.
the missing “?”
There goes the neighborhood.
An artful dodge by the JCS Chief on the Hill yesterday (last line of excerpt):
snip
Asked by the Republican senator Lindsey Graham whether Chinese hacking of US defence systems could be considered a hostile act, General Dempsey replied: ”I would consider it to be a crime. I think there are other measures that could be taken in cyber that would rise to the level of a hostile act.”
Asked what they were, he continued: ”Attacking our critical infrastructure.”
A committee member shot back: ”And that could be a hostile act?”
General Dempsey: I think so.
Senator Graham: Allowing us to respond in kind?
Dempsey: Well, in my view, that’s right – yes.
Graham: So, I’m going to have lunch with the Vice-President of China in about 20 minutes … so what do you want me to tell him?
Dempsey replied: Happy Valentine’s Day.
http://www.smh.com.au/world/man-destined-to-lead-china-insists-on-return-to-rural-iowa-20120215-1t6s0.html#ixzz1mSOdcNx6
Whats the line on the spring selling /buying season?
Two senior Democrats today outlined a measure to let municipalities and a state corporation buy foreclosed homes and offer them to low- and moderate-income residents in an effort to increase the supply of affordable housing and reduce the number of vacant houses.
Great move! Now, instead of having to go all the way to Newark for some bl0w, everyone can go to that new crack house on Maple Avenue in Ridgewood.
Dear Sellers,
Your house is different, don’t ever forget it. Put that 2005 asking price on it and insist on nothing less.
Bottoms up!
11.grim says:
February 15, 2012 at 7:06 am
Interesting piece over at CR:
FHA REO Inventory declines to four-year low in December
Brian, “Bottoms up,” Van Halen style:
http://www.youtube.com/watch?v=Z8fYlqqg-pQ
#11 – Don’t you have to actually foreclose on homes to have REO inventory?
http://www.fastcompany.com/1816220/customized-jeans-that-will-never-make-your-butt-look-big-are-the-future-of-shopping?partner=rss&utm_source=pulsenews&utm_medium=referral&utm_campaign=Feed%3A+fastcompany%2Fheadlines+%28Fast+Company+Headlines%29
Rush to the Mall for these Jeans
No. House I was looking at was a Deed in Leu.
30 year realtor says:
February 15, 2012 at 9:52 am
#11 – Don’t you have to actually foreclose on homes to have REO inventory?
grim [2] Whitney’s crib – Taxes are only $37,400. 22 North Gate Rd.
http://blogs.wsj.com/economics/2012/02/15/home-builder-sentiment-at-nearly-5-year-high/?mod=wsj_share_twitter
So much for all the gloom . 5 yr high. so, take that . Rush out to buy today
#26 freedy: From 25 to 29, when the expectations were for 26. But 50 is he number for the index to be considered good. 4 years ago 25 was dismal, now 29 is cause for celebration, when 50 is the number that is considered to be good. Don’t you love it!!
That housing index is at its highest since “07” Hurry to your realtors office today.
All offers must be in hand by tomorrow midnight
Maybe some of you IT guys have an interest in this.
https://mmc.taleo.net/careersection/2/jobdetail.ftl?job=603881&lang=en&sns_id=facebook
Open House 2/28 – Seeking Information Technology Professionals – Marsh & McLennan Companies – Hoboken, NJ-HOB001B7
Description
Open House for Information Technology Professionals
Sponsored by: Marsh & McLennan Companies
• Marsh & McLennan Companies Corporate, Financial Infrastructure Solutions (FIS) •
• Guy Carpenter, Information Technology •
Tuesday, February 28th (4:00 pm – 7:00 pm)
121 River Street, Hoboken, NJ 07030
Marsh & McLennan Companies Corporate – Financial Infrastructure Solutions (FIS), and Operating Company, Guy Carpenter IT, are hosting an Open House for experienced IT Professionals. Come and meet with our Recruiters as well as our Hiring Managers on Tuesday, February 28th from 4:00 pm to 7:00 pm. Please bring copies of your resume and a photo I.D.
You MUST RSVP to attend this event. Please RSVP to: openhouse@mmc.com
You can send resumes to jeff.shaw@mmc.com.
I find post 29 and 30 very interesting! :)
It is really Dejavu all over again, people buying homes again and watching Knicks games. It is Lin-sane.
Investors who made some of the biggest profits from the 2007 bust in U.S. mortgages are once again in agreement. This time, they’re going long.
Hedge fund manager Kyle Bass, who made $500 million betting against subprime debt in the crash, is raising a fund to buy home loan securities. He’s joining Greg Lippmann, a former Deutsche Bank AG trader, and John Paulson, who made $15 billion in 2007, in betting on default prone mortgages. Goldman Sachs Group Inc. (GS) and American International Group Inc. (AIG) have also emerged as buyers this year as trading more than doubled for non-agency mortgage notes.
http://www.bloomberg.com/news/2012-02-15/big-short-becomes-big-long-as-bass-joins-reverse-subprime-wager-mortgages.html
Favorite album cover:
http://upload.wikimedia.org/wikipedia/en/8/88/VanHalen_1984_fcover.jpg
21.Shore Guy says:
February 15, 2012 at 9:22 am
Brian, “Bottoms up,” Van Halen style:
Grim [2];
… home is being offered in an off-market deal …
I thought that journalism was dominated by English majors. I guess not so much, anymore. How can something be “offered” yet still “off-[the]-market”? While the inherent and intractible internal contradiction seems obvious to me, I guess that’s because I was a science major and am acquainted with logic. *shrug*
Con’t [35];
Aside from the typical downward pressure an estate sale brings, it can’t help their cause that the public has been treated to tales of how she was begging from $100s from her friends.
LINsanity is becoming a muti-million $ marketing.Msg stock is up.Sold out arenas where the Knicks are playing.Even Tshirts with no 17 on it, is selling world wide.How long before all this goes to his head,remains to be seen.As for now, I am enjoying watching NBA again
Brian [20], Shore [21];
Van Halen “Bottoms Up” in pictures? mildly NSFW
“offered off-market” seems logical to me.
*whispers from shadows*
“hey, hey buddy, over here”
“whats up?”
“wanna buy a watch?, I got the rolex”
“..?..”
If “On-market” would be above board, arms-length transaction, an off-market sale would be for a price that isn’t disclosed to everyone else. Thus something could be offered for sale as well as remain off-market, for a non-arms-length transaction.
The predominance of arms-length transactions make this seem unlikely but not impossible.
Yo [37];
We need a field report no counterfeit “17” Jersey sales in China.
What is a Knick? I’m unfamiliar with that terminology.
Moose,
I could have gone the rest of my life quite happily without seeing that.
Chinese likes to buy the real thing.No more counterfeit.They can afford the real deal.They only make the good replica for poor Americans.
Anon E. Moose says:
February 15, 2012 at 12:18 pm
Yo [37];
We need a field report no counterfeit “17″ Jersey sales in China.
I should start buying stocks on the handbags my wife buys.Michael Kors up over 100% in 1 yr.
34 Brian
This is my favorite…along the same lines…
http://upload.wikimedia.org/wikipedia/en/f/f8/Black_Sabbath_Heaven_and_Hell.jpg
Wow have I been busy lately. I see the same crew is still here hawking the same goods. :P
yo [43],
The majority of Americans wouldn’t know real from fake whether it be food, logic, debate or entertainment. All it takes is a simple distraction from one form of stupidity to the next.
I almost read Gary’s post when I heard a commercial on the radio for Cold-Ease.
sticky fingers is the best album cover of all time
OK a real estate question. bank of america it seems will sell me rental property for around 200K. RE Taxes are $5,500 a year. Ball park how much is landlord insurance which is I guess home insurance for a rental property. I have no clue.
Once I factor in RE Taxes, insurance, maint and 200K purchase price how much would I have to get in monthly rent to make this a deal. Houses needs at most 10K in work to get it in good shape to be a great rental. Maybe 2-5 for bare bones.
Sign of the Day (and the Apocalypse):
http://imgur.com/gallery/jPKWC
FWIW, the photographer is looking straight UP! I know cuz I remember when I saw those signs on my morning commute into North Station. Pretty sure that they are still there.
JJ-If you’re asking how much is “Landlord Insurance” and “how much would I have to get in monthly rent to make this deal work”, you my friend should RUN from this deal. Being a Landlord is not for the meek.
JJ,
You still shopping for land in the Hamptons?
http://www.businessinsider.com/200-million-dollar-land-amagansett-hamptons-2012-2
JJ [50];
Rule of thumb is 1%; can you rent it for $2,000? Gives you a 12% cash flow on your money, out of which you have to pay expenses. Landlord insurance is called: owning the property in an LLC (Don’t take my word for it, because I’m not dispensing legal advice on an anonymous internet forum. You’d probably want to talk to your lawyer about that. BWTHDIK)
I was a landlord before. It was not bad. But in that case I already owned unit and I knew going rent.
In this case. I assume even with no mortgage I am walking away from 10K a year interest income if I pay cash, RE taxes are $5,500 a year so I am out $15,500 right there. Lets say rental home insurance is 2K a year and I need lets say 3k a year for maint of house. I am already at $20,500 ball park. Which means I need $1,708 a month rent at least.
Are my numbers crazy?
Key says:
February 15, 2012 at 2:22 pm
JJ-If you’re asking how much is “Landlord Insurance” and “how much would I have to get in monthly rent to make this deal work”, you my friend should RUN from this deal. Being a Landlord is not for the meek.
Rating album covers, like other art, tends to be subjective. That said, the following are pretty darned good:
Physical Graffiti
Dark Side of the Moon
Born to Run
Horses (patti smith)
Candy-O
Thundaar,
Thank goodness it was not Tony, Bill, or Geezer in chaps. That was a good tour, I saw them just before Bill left the tour.
Grim (2) – According to Gothamist the asking price has actually gone up since Whitney’s untimely death.
Whitney Houston’s NJ Home Is On The Market Again, Realtor Hyping It As Scene That “Brought Her Down”
Whitney Houston’s home, which she shared with Bobby Brown (and where Being Bobby Brown was filmed in 2005), is now on the market for $1.97 million. The house is located at 22 North Gate Road in fancy Mendham Township, New Jersey, and is next to another home she had just sold in in 2010. The mansion was put on the market before Houston’s death, however, and possibly because she was on the road to bankruptcy.
It was listed for $2.5 million in 2009 and brought down to $1.97 million last year, before it was taken off the market. It was relisted in January at $1.75 million, according to reports, and now it’s up to the $1.97 million price. The listing is held by Robert Cross of CarProperty.com—he says the 12,561-square-foot mansion is “a great conversation piece for anyone,” and notes that Houston “Married, lived and partied in this New Jersey mansion… This house was also the scene of the activity that brought down this incredible musical diva over a 15 year cycle.” Classy.
And isn’t putting a photo of the ambulance outside of the hotel Houston died at in the real estate listing a bit… tacky?
http://gothamist.com/2012/02/14/whitney_houstons_nj_home_on_the_mar.php#photo-1
Your number aren’t crazy, but you really need to do a complete proforma. Yes, you have the obvious P&I, RET, maintenance, and insurance, but you need to factor vacancy allowances-how long is it going to take you to rent the home, or re-rent when you have a move out, capital reserves-it’s great to budget $250/month in maintenance, but what happens when you need a new roof, boiler or sewer line. What’s your time worth for “management”. Finding comparable market rents is a quick call to a Broker or search on Craig’s List. You should be looking at at least a 15% return after all your line item expenses. Best of luck.
re # 58 – prob get a contact high just from entering the place,might as well bulldoze it.
Album Covers:
Aqualung – Jethro Tull
In this case. I assume even with no mortgage I am walking away from 10K a year interest income if I pay cash, RE taxes are $5,500 a year so I am out $15,500 right there. Lets say rental home insurance is 2K a year and I need lets say 3k a year for maint of house. I am already at $20,500 ball park. Which means I need $1,708 a month rent at least.
JJ,
I’m a landlord now on my property that I couldn’t sell. So far it has been making some small returns even with the property declines only because I don’t carry a huge mortgage on it.
Lets say you close on a 200k home, with closing costs at about 10k. That puts you with 210k to mortgage. At 4.25% that is 8,925.00$ per year in interest to start. You can deduct the interest as a buisness expense for rental property and you depreciate the property over a number of years for the IRS already. I believe this gives you a good idea of how much money you need to net to reach what I would baseline as zero (getting your investment back). The idea is that the house will be a teardown and have zero value afterwards. Say the land is worth 40k and the house worth 160k.
If you depreciate over a 26 year schedule then you have 6k per year depreciation.
You have a carrying cost of 9k in interest, and a depreciation of about 6k per year you will need to have a revenue stream of at least 15k per year to cover these costs. This doesn’t cover the fixed cost of purchase at 10k or about another 400$ per year. I pay about 300 per month on taxes, insurance, etc which will vary depending on where the house is lcoated.
This means that you break even with 1300$ per month in rent on the property. You can completely replace everything in the house after 26 years. If you don’t replace the whole house or take good care of it then bonus.
There are other things to consider such as sales tax when you sell the property because the value of the house will be pure profit if you sell. I don’t count this because if I paid taxes on the “bonus” of being able to sell the property and I didn’t have to replace it then I should be paying taxes.
If you finance the house out of your own money then you make 2.83% return on that money since you could have deducted the interest expense on taxes (4.25 * 2/3 = 2.83).
Either way it is pretty complicated but I like to use the depreciation over 26.5 years along with interest expense, insurance, RE taxes method to calculate what I need to break even. Everything else is bonus/profit.
If the market supports more than 1300$ per month then it could be a good investment for that 200k property.
Another Cover:
Yes – Relayer
Another one:
Brain Salad Surgery – ELP
Headbangers for Santorum:
http://www.nydailynews.com/entertainment/music-arts/megadeth-dave-mustaine-endorses-rick-santorum-president-article-1.1023136?localLinksEnabled=false
Terapin station – Grateful Dead and I hate the dead
Paranoid – Black Sabbath
Number of the Beast – Iron Maiden
London Calling from the Clash had a profound influence
and for some reason Red Octopus from Jefferson Starship
Whoever said Candy-O from the cars that is when I knew I loved women : )
Shore guy-56-Good ones..also liked Clash London Calling and Yes Close to the Edge
57-Agreed! The Sabotage album cover was enough for me!! Saw them a couple years ago in Holmdel when Dio rejoined them..pretty good show…did mostly Mob Rules.
JJ-Sticky fingers is a good cover too and just an awesome record…almost as good as Exile……IMHO
and how come I just found out the Court Tavern in New Brunswick is closed for good…
http://www.mycentraljersey.com/article/20120118/NJNEWS/301180038/Court-Tavern-New-Brunswick-closes-indefinitely
gary: Stop with the albums and get out there and buy a house in one of those blue ribbony towns.
Here’s a new blue ribbony two train town listing:
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1204797&dayssince=&countysearch=false
This was my inlaw’s house many, many, many decades ago before they traded up in the same town, and later sold that house as well. According to my mother-in-law, who is still plugged into the Glen Rock gossip network, the oil tank was recently removed and the house was converted to gas. New driveway too, probably due to the oil tank removal.
Perhaps a Glass House (another interesting cover/Billy Joel)
Stu your taste in music sucks : )
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several emails with the same comment. Is there any way you can remove people from that service? Many thanks!
My taste sucks too. In the summer of 1980 I had a “good” $4/hour full time summer job, a Fiat Spider sports car, and my 1/4 share of our $320 rent in New Brunswick was $80/month. One summer Friday pay day I bought and installed my first AM/FM/Cassette car stereo. I then drove to Sears and bought the Glass Houses cassette and then drove with the top down all the way down to Atlantic City and lost the rest of my paycheck at the Casino. I didn’t even have toll money coming back up the Parkway so I went right through all the tolls at 60mph. I didn’t get caught until the last one and received a pretty large ticket from the State trooper that pulled me over. My only salvation was the 4 Michelobs I knew I had in the fridge at home. When I got there one of my room-mates was wearing one of my Izod shirts, complete with brand new pizza stain from the last slice of pizza he brought over and was half way done with my last Michelob. I still cringe when I hear songs from Glass Houses.
Album covers? Cheech & Chong, Big Bambu. Bet you a copy with the rolling paper intact is worth some bucks.
gary, good one. how about
We’re Only in it for the Money Mothers of Invention
Suzy Creamcheese what’s got into you ”
Girls from Ipanema blame it on the bosa nova baby :)
gary says:
February 15, 2012 at 3:31 pm
Album Covers:
Aqualung – Jethro Tull
The Original NJ Expat,
Awesome story, JJ style. Love it.
Van Halen
1984
73-Expat
Where did you hang your hat in New Brunswick? My friends had a place from the late 80’s to the late 90’son Mine Street and Easton…..was in pretty bad shape but in the center of it all….four bedrooms and the landlord didnt raise rent for 10 years.. $300 per month. We were always at McCormicks, Ale n Wich, the Court and Old Bay….couldn’t handle the vibe at Old Queens or Scarlet….
Did you get laid? Funny in the 1980s no matter how fantastic a vacation or night out you had if the answer to that question was no the story got less interesting. When I went to Hedonism when I was single I actually sent postcards to my friends with details about the first two lucky win. My friend got it before I got home but he said it looked like 200 mailmen read it first.
Anyhow I had a Fiat Strada once, and good things does cars are light, best feature was the electric rear window heater as it kept my hands warm as I pushed it.
The Original NJ Expat says:
February 15, 2012 at 4:07 pm
My taste sucks too. In the summer of 1980 I had a “good” $4/hour full time summer job, a Fiat Spider sports car, and my 1/4 share of our $320 rent in New Brunswick was $80/month. One summer Friday pay day I bought and installed my first AM/FM/Cassette car stereo. I then drove to Sears and bought the Glass Houses cassette and then drove with the top down all the way down to Atlantic City and lost the rest of my paycheck at the Casino. I didn’t even have toll money coming back up the Parkway so I went right through all the tolls at 60mph. I didn’t get caught until the last one and received a pretty large ticket from the State trooper that pulled me over. My only salvation was the 4 Michelobs I knew I had in the fridge at home. When I got there one of my room-mates was wearing one of my Izod shirts, complete with brand new pizza stain from the last slice of pizza he brought over and was half way done with my last Michelob. I still cringe when I hear songs from Glass Houses.
While we are still on the subject…here is the flip side of great album cover art….
http://www.google.com/search?q=worst+album+covers&hl=en&qscrl=1&nord=1&rlz=1T4SNNT_en___US385&site=webhp&prmd=imvns&tbm=isch&tbo=u&source=univ&sa=X&ei=4Bo8T7PXCOX50gHG3q3-Dw&sqi=2&ved=0CDsQsAQ&biw=1311&bih=527
http://www.crainsnewyork.com/article/20120212/REAL_ESTATE/302129973#
For those wondering if its all over in Atlantic City , Read how this Malaysian company showed them how to do it.
And to think NJ allowed Steve Wynn to get away .
JJ,
What does a postcard that has been read look like compared to one that hasn’t been read?
http://www.investmentnews.com/article/20120215/FREE/120219945/-1/INDaily01&dailycount=1&issuedate=20120215
Biggest expense for the boomers. Your mortgage and property taxes. In NJ we’re
approaching Property Taxes first as that payment outstrips the mortgage payment.
But we’re close to NYC and Housing is coming back . Dotty Herman said so
Thundaar [78] Rutgers – Yep, knew most of those places, and there were some good apartment deals on Easton Ave and even better deals if you went down Hamilton a couple blocks away from campus. Our apartment then was 64 Baldwin St, two blocks off of Nichol ave over at Douglass/Cook. We were all Busch and College Ave guys, but we decided to see what damage we could do over at Douglass that year. All our classes were still at Bush or College Ave, but we had 3 cars between the 4 of us so we could get to campus if some some reason we decided to attend classes;-) Our era was ’77 through the early 80’s. I had quite a few friends who stayed in New Brunswick for a few years after school, but we had all pretty much moved on by ’84 or so. Good times, good times.
Well back in the day the local library let you check out Playboy magazines and SI Swinsuit issues. Imagine one of them after three months of being in library.
joyce says:
February 15, 2012 at 4:25 pm
JJ,
What does a postcard that has been read look like compared to one that hasn’t been read?
Hey when you depreciate a rental property down to zero what happens when you sell it? Is the gain fully taxable? Can I move in and after two years sell it as a primary residence tax free? I mean when I am depreciating am I only kicking the can down the road or is it a good tax savings?
85—-Laughing…
yes alway had nice artwork on their album covers , as far as music, its always Frank !!
JJ [79] Did you get laid? Funny in the 1980s… Sometimes not as quickly as I wanted or planned. Probably ’82, my girlfriend is still at Rutgers, living in the dorms. Her room-mate is away, so I drive down there for some, you know. It’s probably Thursday night, but maybe she has a night class so isn’t back yet. No problem, I walk over to the student center, have a beer or two at the pub and probably go to the game room to play missile command or something. I bump into two guys I haven’t seen in a while and they offer to drive me the 200 yards back to the dorm. Instead they speed right past the dorm and drive me far off to Art Stock’s Play Pen North, a night club too far from campus to do anything about. So I’m stuck there until closing and my two friends strike out, so now we can’t go home. We have to drive into Manhattan so they can get BJs from hookers. They don’t even have any money left so I have to lend them $20 each to get serviced, drive back to NJ, go to the ATM so they can pay me back the $40 and I’m walking into my girlfriend’s dorm room around 4AM and she wasn’t nearly as happy to see me as I expected her to be at 7 or 8PM. But the answer to your question is still yes;-)
Running on empty – Jackson Browne
Honky Chateau -Elton John This when he was still hiding in the closet
ONJE;
I’m suprised you went with the cassette and not the 8-track… :o)
Moose [91] – Auto Reverse had just come out, plus some new whiz-bang technology that scanned for the low sound levels between songs so you could skip to the next track in the cassette. BTW, your joke isn’t lost on me;-)
I’m suprised you went with the cassette and not the 8-track… :o)
More Album Covers:
Anything by Motorhead.
[86] JJ
You are attempting to use Section 121 to avoid Section 1250 depreciation recapture.
Read this.
http://www.frascona.com/resource/pal801taxcons.htm
Let me share this latest email to me from the Obama campaign:
“Once you put it in a visible place like the back of your car, in your window, or near your desk, things might start happening.
When someone sees it, they might go to our website to find out more about what President Obama has accomplished. Maybe they’ll click on a link to attend an event in their area.
Or maybe they’ll decide to have a conversation with you. You’ll have a chance to persuade them to vote for President Obama. Or if they’re already a supporter, you’ll be able to convince them to get involved and persuade some voters themselves.
A lot of things can happen because of the simple decision you make right now.
We’ll put a bumper sticker in the mail for you — just tell us where to send it:
http://my.barackobama.com/Obama-Biden-Sticker
Thanks,”
I do this not in a spirit to encourage you to vote for anyone. That’s your choice.
I do it because I know some here would love this. I know some here will order it just so the campaign spends a dollar or two to send it to them.
So do what you want. It’s your freebie, to take or not to take.
I suppose we could have a contest for the most creative use of the bumper sticker. But with this crowd, I’d be afraid to find that out.
Name that “model”
http://www.sugarray.com/disc.php?year=1995
Had a chat with a friend yesterday. He was licking his wounds having been taken to the woodshed by the division head. He had had an email exchange with the CEO that that didn’t go down well. The CEO had taken a hissy fit and was spreading joy all around. The story seemed to be the CEO is asking for the moon and my buddy is saying, we don’t even have fuel for the spaceship.
One thing that struck me is that the CEO seems to be adopting the Steve Jobs approach to management. Criticize and belittle your staff until they bring you perfection. So I started to wonder, if the Steve Jobs autobiography is this generations version of “The Art of the Deal”. Is this the book that will spawn the next generation of A$$hole managers? They read the book, swallow the mantra and think that this is their ticket to management greatness.
This got me thinking.
#97 cont (hit the wrong key)
This got me thinking that there is a new market here for an updated Dilbert/Office space/Gen X manual, that would help you navigate through the new workplace. There is so much comedic gold to be minded in the new social media aware workplace.
My second favorite real estate site. This guy is funny.
http://agentsdiary.blogspot.com/
http://www.businessinsider.com/expensive-hamptons-summer-rentals-2012-2
Hurry , time is running out
Nicole Eggart (sp?), perhaps?
FAB – calling out the c-suite is one of my favs. Your bud got himself noticed now
He needs to go back and double down. Only advice Is don’t do it via email ever.
101: Shore,
You are correct sir. Remind me that I owe you one if there’s ever another GTG.
Gluteus (98)-
I think these guys have it down.
http://www.youtube.com/watch?v=hSCrcar-V5E
Romney is now behind (outside the margin of error) everywhere in MI except the county whee he was born. We could use smoke-filled room right now:
http://www.usatoday.com/news/politics/story/2012-02-15/michigan-romney-santorum/53108896/1
Todd Rundgren A Wizard a true star was a cool album cover
I would like to express my appreciation for the kind-heartedness helping people who need assist in your market. Your own real resolve for moving the answer up and down experienced turn out to be particularly informative and have regularly helped anyone else like me to attain their dreams. Your individual informative details indicates much to me far more more in order to my friends. Many thanks a ton; through each one of us.
This is my first opportunity to visit this website. I found some interesting things and I will apply to the development of my blog. Thanks for sharing useful information.
I’m commenting to make you understand of the remarkable experience our princess obtained using the blog. She learned plenty of issues, which include what it is like to have a great giving mood to let most people effortlessly completely grasp several complicated issues. You really surpassed my desires. Many thanks for providing those effective, safe, revealing and fun thoughts on this topic to Tanya.
It’s the second time when i’ve seen your site. I can see a lot of hard work has gone in to it. It’s really good.
Great write-up, many thanks! Can you tell me about the second paragraph extra?
get replica a to take huge discount
Interesting post and I really like your take on the issue. I now have a clear idea on what this matter is all about. Thank you so much.
billige Krankenversicherung ist sehr wichtig für alle. so besuchen Sie die Webseite unten, um mehr über billige Krankenversicherung lesen
Intruiging, thanks for the info.
buy prada handbags sale outlet prada to get new coupon vintage hermes online shopping
Useful info. Lucky me I discovered your website unintentionally, and I’m stunned why this accident did not came about earlier! I bookmarked it.
Valuable information. Lucky me I found your website by accident, and I’m stunned why this twist of fate did not came about earlier! I bookmarked it.
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but other than that, this is wonderful blog. A fantastic read. I’ll definitely be back.
Terrific work! This is the kind of information that are meant to be shared around the web. Shame on Google for not positioning this put up higher! Come on over and consult with my web site . Thanks =)
generic ambien online – buy cheap ambien
Hello, i believe that i noticed you visited my website so i got here to go back the prefer?.I’m trying to to find things to enhance my web site!I suppose its ok to use a few of your ideas!!
I have visited this site lots lately, and never really left a comment, however this article specifically was excellent. You guys provide a lot of great insight and I practically always find it useful. Keep writing, love submitting this stuff to facebook. Cheers!
Great ideas and new, improved technology is coming to the renewable energy field at a fast pace. Even with the setbacks, alternative energy will soon overtake oil.
Thanks for every other excellent post. Where else could anybody get that kind of information in such an ideal approach of writing? I’ve a presentation next week, and I am at the look for such information.