From CNBC:
As Home Prices Fall Further, Is It Time to Buy?
Nobody wants to catch a falling knife. It is as simple as that. If potential buyers see continued home price erosion, they will stay parked on the sidelines. But as with everything else in this unique and historic housing market, perhaps the usual logic doesn’t apply.
“Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, “What should I do, Mr. Trump?” I say go buy a house,” said Donald Trump earlier today on CNBC.
“It wouldn’t be an obvious mistake to buy a house now,” hedged Robert Shiller, barely a few hours later.
Perhaps they were just jumping off Warren Buffett’s declaration yesterday that if he had a way to manage them, he would buy a couple of hundred thousand single family homes and rent them out.
Housing appears to be rated a “buy” these days, especially among investors, who see a ripe and rising rental market and big potential for income. But is it the right time yet for what I call “organic” buyers to get in? By this I mean people buying a home to actually live in it, raise a family in it, let the dog run around in the back yard. If prices are still falling, couldn’t an even better deal be waiting down the road a bit?
No. House prices will continue to fall on a national basis at least through 2012, but you have to look past national headlines to your local market, which is likely already recovering nicely. The trouble with the national numbers is that they are heavily weighted toward the lower end of the market and to the distressed end of the market.
…
You cannot time housing any more than you can time the stock market. True, housing moves far more slowly, but that works to its benefit, as prices don’t rise and fall on daily news or even on major events. Sales have clearly bottomed in housing, and prices always lag sales. They will lag longer this time around, no question, but they will come back. Supply and demand will eventually win out, even after an historic crash. If you can’t get a good mortgage now, then perhaps it’s not your time, but if you can, waiting may not buy you much.
Good Morning New Jersey
From the Record:
Mortgages backed by N.J. fall to 3.75%
Low- and moderate-income first-time home buyers can get fixed, 30-year mortgages at 3.75 percent through the state Housing and Mortgage Finance Agency, the agency said last week. That’s a reduction from the previous rate of 4.25 percent, and the lowest rate the state has ever offered.
The rate also is available to buyers who qualify for a separate program that targets urban areas and is not limited to first-time buyers.
“We are confident these new rates will jump-start the real estate markets,” said Richard E. Constable III, acting commissioner of the state Department of Community Affairs, the mortgage agency’s parent.
Home mortgage rates in the private market are also at near-record lows, averaging near 4 percent for a 30-year fixed loan. The HMFA can offer a lower rate because it is funded by tax-exempt bonds, which keep its costs low.
The mortgage agency has $170 million to lend at the 3.75 percent rate, which is expected to fund about 1,000 mortgages. To qualify, buyers in Bergen and Passaic counties must have household incomes of no more than $94,600 and buy a home costing no more than $429,619 (single-family) or $550,005 (two-family).
From the NY Times:
When Living in Limbo Avoids Living on the Street
Forced by the harsh realities of the real estate market, lenders are increasingly likely to allow defaulting owners to remain in their homes — a change in attitude and strategy that is helping to buoy some neighborhoods while further slowing the nation’s foreclosure process.
Some lenders are now willing to make deals with owners to let them stay after defaulting, offering to pay home insurance, for example, while the resident pays for utilities. Other lenders simply look the other way, quietly putting off foreclosure sale dates, knowing that the costs of the ordeal probably exceed the diminishing value of the properties.
The evolution in thinking was perhaps inevitable, experts say. Across the country, more than 644,458 properties were lingering in bank ownership at the end of January, but even more — some 710,725 — were coming down the foreclosure pipeline, according to RealtyTrac, a real estate and foreclosure analysis firm.
In addition, states and municipalities have grown more aggressive in the last few months in trying to force banks to maintain foreclosed properties, which have become blights on neighborhoods from coast to coast. Last month, lawmakers in Florida and courts in New York considered new ways to require lenders to alter loans to keep people in their homes or complete foreclosures more quickly.
“Under normal circumstances, the banks would be able to cover the cost of maintenance, upkeep and property taxes by just reselling the property, but these are desperate times, and banks are resorting to somewhat desperate measures in some cases,” said Daren Blomquist, a vice president at RealtyTrac, a real estate analysis firm. “It is more of a factor now because property values have come down and will not cover all these costs when the banks resell the property, if they can resell the property.” When the housing bubble burst almost six years ago, millions of Americans were forced to vacate their homes within months of defaulting, in a system that worked like an eviction mill, often resulting in vandalized properties and bitter feelings between banks and borrowers.
Since then, the average time it takes to complete a foreclosure has nearly tripled nationwide, from four months in 2007 to about a year at the end of 2011, according to RealtyTrac, with the slowdown most evident in some of the hardest-hit states, including California, Florida and Illinois. Homeowners in Florida who default can now expect to wait more than two years in legal limbo, the one big upside being the opportunity to remain at home without paying for home.
As a result, the relationship between many borrowers and lenders is softening from outright animosity to something that more resembles a détente.
From the Washington Post:
A million-dollar mortgage goes unpaid for years while couple fights foreclosure
The eviction from their million-dollar home could come at any moment. Keith and Janet Ritter have been bracing for it — and battling against it — almost from the moment they moved into the five-bedroom, 4,900-square-foot manse along the Potomac River in Fort Washington.
In five years, they have never made a mortgage payment, a fact that amazes even the most seasoned veterans of the foreclosure crisis.
The Ritters have kept the sheriff at bay by repeatedly filing for bankruptcy and by exploiting changes in Maryland’s laws designed to help delinquent homeowners avoid foreclosure.
Those efforts to protect homeowners have transformed Maryland’s foreclosure process from one of the country’s shortest to one of the longest. It now takes on average 634 days to complete a foreclosure in Maryland, compared with 132 days in Virginia.
Champions of Maryland’s system, including Gov. Martin O’Malley (D), credit it with driving down the state’s foreclosure rate and helping thousands of victims of predatory lending, fraud and other abuses hang on to their homes.
“The market won’t fix itself,” said Anne Norton, Maryland’s deputy commissioner for financial regulations. “By the time it does, how many homeowners will be churned up and spit out by the machine?”
…
“How is it people can stay in a house for five years without ever making a mortgage payment?” said Thomas A. Lawler, a former senior vice president at Fannie Mae who now runs his own consulting firm in Loudoun County. “That’s a screwed-up process. It’s an example of how the process is broken.”
The Ritters, who bought their house for $1.29 million with almost no money down, are hardly representative of the vast majority of Maryland’s distressed homeowners.
During the boom, they set out to become mini real estate moguls, buying properties and flipping them for a profit. In the process, Keith Ritter, 54, went from being on probation for bankruptcy fraud and making minimum wage to being a successful real estate investor and landlord with a six-figure income. Then, when the housing market tanked five years ago, the couple found themselves facing multiple foreclosures.
JJ – Why are you wasting your time with rentals when you can be lounging on the beach?
From the Post:
The ‘$lam’ptons
There’s house trouble on the East End of Long Island.
Five years after the housing bubble burst, the number of unsold Hamptons homes has hit a 30-year high while prices have plummeted.
A stunning 48 homes worth more than $1 million are in foreclosure, according to the industry monitor PropertyShark.com.
They include some Gatsby-esque mansions, like a $4.9 million, three-story property on 2.1 acres in Westhampton Beach with seven bedrooms, 5 1/2 baths, guest cottage, tennis court, cabana and bayside pool.
“Yes, even the upper end of the East End housing market is not immune from foreclosures,” said industry analyst Jonathan Miller of Miller Samuel Inc. “Despite being one of the better US housing markets, the New York City region is also grappling with distressed real estate.”
More than 1,000 Hamptons homes are in distress, meaning they’re in foreclosure or a pre-foreclosure stage, according to PropertyShark.
Some industry authorities blame the Hamptons market on homeowners pushing up prices unrealistically, as they did in other distressed housing markets.
“It doesn’t matter if it’s Las Vegas, Arizona or the Hamptons when a home is overleveraged,” said Corcoran Group CEO Pam Liebman.
“Even though the Hamptons is known as a playground for the wealthy, it doesn’t mean that it is immune to buyers who over-leveraged their homes and are now suffering the consequences,” she said.
Miller said the consensus of Hampton market-watchers is that prices will likely continue to drop for the next couple of years.
The IRS treats forgiven or canceled debt as taxable income. Front Page USA Today http://www.usatoday.com/money/perfi/columnist/block/2011-03-08-yourmoney08_ST_N.htm
RE#6 Tax on forgiven debt………. The people who got extended stays because of
the moratorium on foreclosures may find it comes back around to bite them
in the a$$!!!
More like catch a falling ship anchor.
I stopped by three open houses yesterday, just to gauge the market compared to last year. All 3 asking prices are in the $350-400k range and were recently adjusted down across the board by another $30-60k compared to last year and the realtors were urging us to offer lowballs. I realize this is only anecdotal but if its signaling a wider regional capitulation, maybe it explains the recent jump in sales? and if so maybe its leading to another drop in nj prices? Just throwing it out there, not sure if others are seeing similar.
Re: #5 Warren B should buy them all up and rent them to section 8.
“But as with everything else in this unique and historic housing market, perhaps the usual logic doesn’t apply.”
Um, first of all, “the usual logic” of the proletariat is asinine (see, housing bubble), so the fact that “perhaps” it may not apply right now is probably a good thing.
“Perhaps they were just jumping off Warren Buffett’s declaration yesterday that if he had a way to manage them, he would buy a couple of hundred thousand single family homes and rent them out.”
Something tells me that if Warren Buffet truly wanted to buy a couple of hundred thousand single family homes and rent them out, he’d find a way. Chalk this one up to his Obama 2012 effort. Keep Hope Alive, Warren.
““Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, “What should I do, Mr. Trump?” I say go buy a house,” said Donald Trump earlier today on CNBC.”
Wow – Trump sounds bullish enough to make one think that he is a real estate investor or something.
“you have to look past national headlines to your local market”
Yeah – when I look to “my local market” all I see are sky-high property taxes that are set to explode even higher in the coming years to bankroll NJ’s bloated “government servant” sector. No thanks.
“Sales have clearly bottomed in housing, and prices always lag sales.”
Clearly. Buy now or be priced out forever!
High property taxes have never bothered me much before but theyve somehow become a huge factor in our home buying decision. $11,500 on a $350k home???
But is it the right time yet for what I call “organic” buyers to get in? By this I mean people buying a home to actually live in it, raise a family in it, let the dog run around in the back yard. If prices are still falling, couldn’t an even better deal be waiting down the road a bit?
Where’s the discussion regarding property taxes? Why are we discussing 50% of the equation? When the monthly tax payment is quickly approaching the monthly mortgage payment, how can a pricing bottom in our area even be on the radar?
Neanderthal [12],
Again, nice to see you posting. As for the property tax; when the dog gets whacked with a baseball bat enough times, the animal eventually gets it. Perhaps the proletarians are now approaching the realization that they’re being duped.
Happy Renter [11],
Great post! :)
#12 High Property taxes equals continuing decline in NJ house prices;simple as that IMO.
Fiddy [47, prev thread];
MLS #2908577 went Under Contract on 2/28/12. That’s a nice location in Roxbury.
Price point for a 4/2 bi-level caught my attention, but that listing pops up on a FK website — might be more distress than a plain vanilla estate sale.
Gary: Discussing a retirement plan with a client last week and they were proud that their mortgage was paid off. I looked at their $25K prop tax bill and said that it appeared their were renting their home from the town…..the look shot back was not pleased….
gary says:
March 5, 2012 at 8:50 am
But is it the right time yet for what I call “organic” buyers to get in? By this I mean people buying a home to actually live in it, raise a family in it, let the dog run around in the back yard. If prices are still falling, couldn’t an even better deal be waiting down the road a bit?
Where’s the discussion regarding property taxes? Why are we discussing 50% of the equation? When the monthly tax payment is quickly approaching the monthly mortgage payment, how can a pricing bottom in our area even be on the radar?
I thought “organic buyers” were what you call Whole Foods shoppers?
NE [9];
I’ve got listing agents admitting their properties are overpriced and asking for lowballs. I’m not about to waste my time and help them beat up their sellers only to have their in-house client snipe on my offer and get the prize. Sellers have to come to Jesus on their own, and even then some can’t/won’t. I bid on one property now entering its fourth spring (and fifth agent) since its owner died — the best counter was ten grand more than a better comp down the block that sold a month before the negotiations.
what are the realistic options for getting property taxes lower? everyone knows they are out of hand but what are the real options?
The real options are to go to the ballot box and start voting.
ChiFi [18],
But, as we all know, the high taxes are to keep the riff-raff out and to pay for the blue ribbon education of the children. :o
Grim,
I love the article on Maryland’s stalled forclosure process. We are a judicial forclosure state which seems to stand in stark contrast to Virginia which isn’t.
#21 seif
Move!
seif, assessments may be reduced while milage rates will increase unless the local government cuts expenses or finds money from another source. It can be done. We were able to do it in Florida.
“The real options are to go to the ballot box and start voting.”
voting for what? i am not well-versed on this but what are examples of things that have been done – from the statehouse – to make any significant reductions in taxes in North Jersey towns in the last 10, 20 years?
seif 21, Vote with your feet, there are other places to live & work. That is unless you want to cut the public sector parasites off the tit.
“move” is a lifestyle change for me personally, not a way to get a handle on ever rising taxes. what are the practical and doable ways to get taxes reduced that can be effected short-term and last long-term?
seif (21)-
Armed revolution. Nothing else will penetrate the skulls of a gubmint that is openly waging war against us.
Move is correct.
Survey your neighbors and 9 out of 10 will say, “Don’t you dare touch my police, fire or teachers compensation.” Salaries and benefits for these three make up about 85% of your property tax bill.
Hence, you can move or stay and pay.
mikey (28)-
Can’t vote with your feet. Every other place in the US is turning to shit, too. The gubmint and its lackeys are winning the war to turn us into a slave population.
Vote with a bullet.
Meat I’m in.
Revolt seems to be a viable consideration. Not only are we no longer represented but we’re now being openly exploited.
SEIF…Meat is right.
A few years ago, I attended the Montclair budget deliberations. The town was facing huge revenue shortfalls due to the drop in commercial revenues from the recession. The mayor suggested cutting the municipal budget (not the schools) 5% and asked the town manager to present a budget that reflects it. Every single town employee including firemen that were on duty (yes they parked the firetruck outside the municipal building in case they got a call), member of the local NAACP, union leaders, etc. all showed up at the meeting and half of the attendees couldn’t even fit into the meeting room. When it was all said and done, the mayor ended up firing the manager as a result of that meeting (the manager said it is not possible to cut the budget by 5%). Eventually, the mayor avoided arbitration with the union and settled for a 3.5% raise for the average municipal worker. Had he gone to arbitration, the going rate in our surrounding towns were 4%. Now if the mayor had balls, he would have cut their budget by 5% and would have asked the deputies of fire and police to layoff enough workers to meet their budget. Instead, we ended up with a municipal tax increase of 7.5%. So until we find leaders willing to make the tough calls (reducing headcount to match the loss in revenues) property taxes will continue to spiral out of control. Thank the state Dems for punching holes in Christie’s Cap which would at least have limited the increases to 2%.
Chi # 18…
When we bought our house in 2009 (with close to 40% of sale price as down payment — on a REO), my wife asked me about how much of the loan we need to pay off to get the monthly payments to half of what they were… My answer, “the entire loan balance”.
Seif #29…
Practical ways to get taxes reduced are (a) downsizing, (b) moving to a low taxed place [most likely out of NJ], or (c) praying that the gospel of Santorum on home/church schooling with catch up [added benefit — if the gospel of Santorum spreads far enough, there won’t be a need to spend money on kids’ college education; thought the downside is that spreading Santorum gospel can’t be effected short-term].
“Meat” could be the only way
http://www.youtube.com/watch?v=eYkVs9d25GU
“If I had a host of ghosts
living on my street
I’d jive and strive to stay alive
and offer them some meat”
-Phish
Latest Jobs Report: A good number of “temp” jobs available in the IT world but nothing permanent unless you’re an expert Developer in some computer language from another planet. I ask these recruiters and head hunters what happens after the “temp” contract expires even with extensions and the number one talking point is “the project gets completed.” I tell them that trade data circles the globe 24/7/365 so who supports all these systems/apps when the contract expires? I ask them why the firm just doesn’t hire permanently to avoid endless learning curves and revolving doors? That’s where they get lost.
and make sure you are wearing these:
http://www.sockdreams.com/products/socks/vices/meat-knee-highs
Prof. McDullard [36],
Incredible!
A plan to halve the number of police precincts in financially ailing Nassau County is forcing residents to grapple with two of suburban Long Island’s chief concerns: maintaining public safety versus the threat of rising taxes.
County Executive Ed Mangano, a Republican, and the acting police commissioner, Thomas Dale, proposed late last month reducing precinct stations from eight to four, saving up to $20 million and shrinking the county’s $310 million budget gap without hiking taxes in a county with some of the highest property taxes in the country.
http://online.wsj.com/article/SB10001424052970204909104577235720669135512.html
#36 – same thing with a lot of places I look at.
41. – continued…
Reduce salaries by 25% and increase the amount of cost for health insurance. Can successfully kicked down road. Eventually, all public sector jobs will be done by temp workers. Ask the Post Office workers.
Taxes, housing, looked at a foreclosure price & renovation including new septic less than taxes , sorry not going for it.
[41] “A plan to halve the number of police precincts in financially ailing Nassau County is forcing residents to grapple with two of suburban Long Island’s chief concerns: maintaining public safety versus the threat of rising taxes.”
Almost enough to make one suspect that NY/NJ’s never-ending attempts to eviscerate the 2nd Amendment is a long-game to ensure that the frightened sheeple never try to reduce the size and cost of the bloated municipal police departments.
seif [21] Answer: Lower prices. Any questions?
what are the realistic options for getting property taxes lower? everyone knows they are out of hand but what are the real options?
Skool board in my district rammed through a vote the other night that rescinds public voting on the skool budget. From now on, the budget is in their hands…unchecked.
FYI, my district rejected the budget 6 years out of the last 7.
Think TPTB aren’t at war with us? Think again.
My town’s former mayor showed up at the circus where the skool board took away our right to vote on the budget. He began questioning individual members. After three minutes, he tried to continue questioning, but the board prez called the cops and had him escorted out.
NJ Expat [46],
seif [21] Answer: Lower prices. Any questions?
Not even a debate any longer. In a few years, the comparison to 2006 peak prices for our area is going to be astounding.
Meat – Snooki is engaged now, I guess the boom that Jersey City was expecting will be a bust.
Anti Corruption laws with brutal punishments that serve as a detirrant. Combine this with frequent audits and enforcement.
Also, no government employee should have any decision making power when it comes to their own salary.
Also the state should force consolodation of school districts and local governments. Too much redundancy exists in the current system in many towns.
I’m not saying any public official has the b@lls or even the motivation to do any of these things but in a perfect world, that would be where you’d start.
21.seif says:
March 5, 2012 at 10:02 am
what are the realistic options for getting property taxes lower? everyone knows they are out of hand but what are the real options?
#46 That is why you will see late 1990’s pricing in many towns, even In Bergen Co. Take a look at asking prices in Bergenfield, Dumont, and New Milford lots of houses with 2 and even 1 handles on them. This will spread to even the so called better towns.
That won’t stop Snookie from drinking and sleeping around. Jersey City has nothing to worry about except a VD epidemic.
50.Juice Box says:
March 5, 2012 at 11:42 am
Meat – Snooki is engaged now, I guess the boom that Jersey City was expecting will be a bust.
grim: #52 is in moderation, don’t know why.
Not on this board.
Real estate sentiment starting to change?
Posted on March 5, 2012 by grim
#51 Brian: Consolidation will be a huge battle, and so called good towns will not want to merge a town on their border that may be perceived as not good.
I agree. So therefore, the only way to get it done is for the State to force them to do it. They tried merging Sussex and Wantage near me recently. Everyone would have seen savings in their property tax bill. They put it to a vote and the citizens of Wantage voted it down. It would have been one of the easiest mergers in the state.
http://www.nj.com/ledgerlive/index.ssf/2009/11/sussex_wantage_reject_merger_h.html
Again, I’m not saying it would ever happen but that’s how you’d do it.
55.3B says:
March 5, 2012 at 11:54 am
#51 Brian: Consolidation will be a huge battle, and so called good towns will not want to merge a town on their border that may be perceived as not good.
gary [49] It’ll take a while, but eventually nobody will talk about 2006 prices as they were decoupled bubble prices that shouldn’t be compared to anything except other bubbles. Case in point: Heard much talk lately about how long it will take us to get back to Nasdaq 5000? How long until csco and pmcs get back to 2000 levels?
Not even a debate any longer. In a few years, the comparison to 2006 peak prices for our area is going to be astounding.
3B [55],
Eventually, consolidation won’t even be a debate. The debate will be about survival.
We Wish Like Hell We Had Never Bought
http://www.theatlantic.com/business/archive/2012/03/we-wish-like-hell-we-had-never-bought-voices-from-the-housing-crisis/253888/
Brian – I don’t see how MTV will let her be a falling down drunk when she is perhaps 3-4 months pregnant, never mind smoking cigs. I would prob say they will replace her with that other sawed off character on the show.
Buddy of mine who lives nearby told me they have 24×7 Jersey City Police presence. I gather they don’t want the locals doing B&Es. Friend of mine on the job told me they also need to keep the drugs dealers away since there is bound to be gun violence too.
Clot,
Wonder how this will read if/when the municipalities get involved as landlords?
http://www.fincen.gov/news_room/nr/html/20120302.html
Is it still bad there? My mother’s side of the family is all from there. My grandfather finally moved out after the third time his house was broken into. His car was stolen once too. When the found it, he got it back reeking of pot. Someone even stole his dog once. He’d had enough.
60.Juice Box says:
March 5, 2012 at 12:06 pm
Brian – I don’t see how MTV will let her be a falling down drunk when she is perhaps 3-4 months pregnant, never mind smoking cigs. I would prob say they will replace her with that other sawed off character on the show.
Buddy of mine who lives nearby told me they have 24×7 Jersey City Police presence. I gather they don’t want the locals doing B&Es. Friend of mine on the job told me they also need to keep the drugs dealers away since there is bound to be gun violence too.
62 – i just “borrowed” the dog…and ‘did one j’
Valuable info. Lucky me I discovered your website by accident, and I’m surprised why this twist of fate didn’t came about earlier! I bookmarked it.
I see today is bash the public employee day. If you do the math for police officers each household pays less than $5 a month. In fact it costs more monthly per household for burglar alarm systems. I make six figures and have been reading this website as you guys post great info on real estate market. Tho I make six figures and have no debt, I still can’t afford to buy a home. You all act like public employees don’t pay taxes to. You cut wages of teachers and police officers and you see what kind of quality education your children get and what type of police officer comes to your home to save your loved one when they need help quick…
re; #65 – Town I live in spends 30k per student on Public Education and the schools are still failing to educate by all measurements. More money is not the answer. The answer for me is private school or vote with my feet. Right now it is private school and in the future it will be voting with my feet.
Gubmint worker….don’t get me started. You will regret it.
Good News!!!!
Boom-Era Property Speculators to Get Foreclosure Aid
http://www.bloomberg.com/news/2012-03-05/boom-era-property-speculators-to-get-foreclosure-aid-mortgages.html
#66 problem is not just schools…. People are not raising there kids… They expect schools to do it for them. Years ago you had primarily one parent working and one parent at home monitoring children making sure school work gets done. Nowadays kids are raised by what they see on television. There are no values…
Libtard are you saying that public employees aren’t worthy of six figure salaries?… I’d like to see you work my job for one day
here is something funny. Edison school board claimed they have reduced the tax levy for budget year 2012-13.
How much is it? $56k on a $188.26MM budget. or 0.03% reduction.
check out the link.
http://us2.campaign-archive2.com/?u=ab511b265cdddd6cbb80ca862&id=1f7c31a38e&e=859fbd11d1
#58 gary
I always find these consolidation arguments funny. What happened to the peoples right for self determination. If the districts don’t want to consolidate, why should they be forced?
If you are going to consolidate towns, why stop there? Why not consolidate counties. And why stop there. Why not merge education in the the states? Do the Dakotas, WY / MT, VT / NH, need their own education departments.
re # 69 – absolutely parents fault, but I am still not paying for it either way.
The trouble is, your source of income, the nj taxpayer, has a shrinking income. I have the utmost respect for teachers, firemen and police (not so much politicians) but something has to give. Many private sector employees have not had raises or bonuses in years. Many people have had paycuts or been laid off. Why should the public sector be immune from this? You can’t continue to spend more and take in less.
70.Gubmint worker says:
March 5, 2012 at 1:12 pm
Libtard are you saying that public employees aren’t worthy of six figure salaries?… I’d like to see you work my job for one day
It’s not the salaries (in most cases) gubmint worker. It’s the benefits. Tell me how much you pay towards your medical which most likely covers you and your spouse for life. Then tell me what you contribute towards your pension and what you are guaranteed to get out of it. I would work your job at half your salary if I was promised the same benefits. And tell me what you make with overtime. Tell me how when you have to cover a coworkers shift, you get double time, where the rest of us get a thank you. Tell me about longevity bonuses. Nah…you’ll just tell me how hard your job is, from your vacation home in St. Lucia which you retired to at age 49.
Grim,
I haven’t been here in awhile but I wanted to share that I just bought a house in Vegas. My interest rate is 3.9% on a $200K loan for a house, purchase price was $250K that has spectacular views of the strip and mountains. 5bdrms 3baths and 3200 sq. ft. Total monthly payment $1,224.
Fabius. Consolidation is not the answer. In every measurable metric, Glen Ridge does it better and cheaper than it’s neighbors who have significantly larger populations. The problem with consolidation is that the government couldn’t obtain an economy of scale if their lofty benefits depended on it. When two school systems merge, they just hire the double the number of administrators and the Supers demand double the salary as they now manage twice as many people with twice the budget. I see it all of the time.
Metro,
Awesome. It’s simply astonishing what you can buy in Vegas for so little amid the foreclosure wasteland.
You cut wages of teachers and police officers and you see what kind of quality education your children get and what type of police officer comes to your home to save your loved one when they need help quick…
I find it a little offensive that you would insinuate that teachers would intentionally do a poor job teaching if they got paid less or that police officers would respond to crimes slower.
Actually, I find it very offensive.
Actually, I find it horribly offensive.
Don’t blackmail me with your elitist firemen, teacher, police officer BS. You can get fired and replaced by a lower paid worker who will do just as good of a job or better like the rest of the workforce. I once had an off-duty police officer come to the door and offer to provide more “protection” to the community by patroling in off-duty hours. Pure blackmail in my opinion. If he were to spot a crime at my home while he was off-duty would he just drive on and do nothing? Morally bankrupt.
Fabius,
Forget consolidation, eventually it’ll be all “temp” workers.
Oh, and I worked for a municipality for 5 years. It was like a vacation.
I do not get medical for life, and actually my medical is crap. There is a big misconception which has been portrayed purposely by the media. Even in blue ribbon Bergen county, in sleepy little towns crime happens. Half the time you won’t know about it because it’s kept from the public… I have friends in private sector who get free cell phone, whatever car they want paid for by company, and bonuses. I work at least 65 hrs a week, can be ordered to work at a moments notice, work holidays, weekends, and rarely get a meal break while at work
Nicholas… That’s not what I’m insinuating. You compare a cop with a masters degree or phd vs one with a hs diploma. You put them in court against a lawyer for a defendant who committed a crime against your family. Which one would you want?
If these jobs don’t pay well, the teachers and cops will continue to do their jobs… But Elite scholars will chose other careers and different degrees instead of education and criminal justice so we miss out on top quality
Gary,
The guy that I used to live next to in my old apartment was a tech worker originally from Great Britain. He says it sucks to be a tech worker in the US. He used to love working contract jobs because he would make bank, finish the project, then take like a month off. It was a great life over there…free healthcare and all. In the US, since usually the employee gets their healthcare from their employer, it makes the whole contract/temp job business a bit more unnerving. Maybe if they could somehow allow tech workers to carry health insurance with them on the cheap between jobs, it might be a bit easier……
80.gary says:
March 5, 2012 at 1:41 pm
Fabius,
Forget consolidation, eventually it’ll be all “temp” workers.
JJ: I have found the girl for you……
http://www.nypost.com/p/sports/jets/sister_of_jets_mangold_qualifies_xkjAYLe40U40qUSToOEjdO
Gubmint Worker (82):
From the sound of your work life you must be a parole officer, social worker or a public defender. Just curious, what exactly do you do for the gubmint?
Gary you never had to tell a person a loved one died, you never had to take a knife off someone, you never had someone pass away while trying to revive them, you never searched a dark building with armed burglars, you never had to fight hard core criminals…. Yea public sector jobs are cake
gubmint worker
all of your income/benefits is from taxes, you dont pay any
Im a police officer. If the job didn’t pay well I would have went to law school. Will go later down the line or run for office…
[65] You all act like public employees don’t pay taxes to.[sic]
Not net. They just rebate some of the tax money they’ve received.
88
it sounds like you’re in LE …
you’re allowed to carry and use a deadly weapon for personal protection, the rest of us are not… when someone breaks into my apt and I call you for help, will you be there to stop them in time?
This has to be an estate sale…this house at this price is just insane:
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1207623&dayssince=&countysearch=false
Also…anyone have any idea why AAPL is tanking today?
Ok now back to real estate… Sorry for the diversion… I have noticed the past week or so an uptick in inventory in towns that I’m looking at buying…
Gubmint worker,
I make 6 figures (barely). I have made the same 6 figures since October of 2007. In that time, I’ve been asked to assume the responsibility of 2 other coworkers who also used to make 6 figures and now are collecting unemployment. I also had my benefits cut (which were relatively krappy to begin with) as well as had to endure temporary salary cuts of 12 and 15%. (which took me under 6 figures). I have faithfully put more money into my 401K and I barely have more in the account then I put into it. My company pays $40 per month for my cell phone. I pay nearly $350 per month just to commute to my job mainly by public transportation. I pay 30% of my health care costs. I do not get overtime and have never received a significant bonus nor anything extra since 2003. I frequently work just as many hours of you and do work when I wake up, before I go to bed and anytime I get a call on my free cell phone. I am directly responsible for the livelihood of 16 people in the United States and if quality drops that number could easily be 300. I also manage a team in India. We all don’t drive company cars and collect stock options. As a matter of fact, 99% percent of us don’t. Trust me, the grass is much greener on your side of the fence. If it wasn’t, you wouldn’t be working when the state continues to underfund your pension.
[86] Mangold and Robles dueled all day in the two lifts, snatch and clean-and-jerk. Robles led after the snatch…
Butthead: Huh, huh. He said…
Re 95: The difference is you know your going home at the end of the night… I agree with a lot of people’s points but from reading numerous posts it appeared that public employees do nothing all day.
So tell me, gubmint worker…why do you continue to work when the state won’t fund your pension? Too much to lose even without it? Seriously.
juice (50)-
Boom? In what? Guidos and fistfights?
“Snooki is engaged now, I guess the boom that Jersey City was expecting will be a bust.”
I don’t think anyone insinuates that the public sector doesn’t do anything. I think the problem lies in that the costs for what you do are becoming tougher and tougher to afford. If your unions don’t watch themselves, I have a funny feeling that you are going to get privatized right out of a job. Just as the automakers union did. When the economy is in the pits, you’ll find other well qualified individuals willing to do what you do. Some might even be better qualified! Though, when it’s all said and done, I think you guys aren’t going to get your promised pensions. The simple math doesn’t allow it. So the whole argument is kind of moot anyhow. But don’t think for a minute that you aren’t appreciated. It’s a question of can it be afforded. I’d love to drive a Porsche, but I can only afford a 95 Honda Civic. See how that works?
chi (86)-
Good God. She looks like the white incarnation of D’Brickashaw.
Wonder what her 40 time is?
Gubmint Worker,
Nobody’s saying your job isn’t tough, including me. My father was a city firefighter who almost lost his life twice in the line of duty. Spare me. The issue is that the majority of the public sector is a bloated, f*cking mess.
I love what I do. But don’t take away what was promised to me when I started. I’m fine with a temporary cut until economy recovers. If they want to discontinue pensions for new employees do that. But don’t do it mid-way through or at the end of people’s careers
Brian [85] When contract work was great in the US too:
Back in the mid and late 90’s this was a great gig in the US too. I worked for a company called Alternative Resources that was half way between a body shop (contract/temp agency) and a body snatcher (salaried consultant). I used to make $80-$120/hour with full medical, dental, matching 401K, ESOP, 1 week vacation for every 1000 hours worked and some other benefits. I would typically work a job for 9-12 months until it ended and then I would tell my company not to find me any work for the next 2-3 months. During this interim period I would collect unemployment ~$600/week and pay my $130/month COBRA out of pocket while vacationing and maybe teaching myself whatever new technology I wanted to work in next. I was single, making 6 figures with great benefits, maxing out my 401K and taking 3 months off a year. One time I worked two years straight on a lucrative project so I took the next 13 months off as a reward, that’s when we moved to Boston. Escalating health care premiums, marriage, kids and approaching middle age made this game a lot less lucrative, but it was great while it lasted.
The guy that I used to live next to in my old apartment was a tech worker originally from Great Britain. He says it sucks to be a tech worker in the US. He used to love working contract jobs because he would make bank, finish the project, then take like a month off.
lib (100)-
Won’t be any retirement homes in St. Lucia for gubmint pensioners. Instead, it’ll be Friskies and more Hoovervilles in the Pineys.
The gubmint pension Ponzi is busted out. Sooner rather than later, the assumptions of 8-10% gains to infinity will be trumped by the unavoidable fact that they are tapped out and cannot be brought back to par.
I, for one, sincerely look forward to the day when the ranks of stiffed pensioners hits the tipping point and they foment the ultra-violence needed to overturn the whole rotten system. I always like it when the heavy lifting is done by others.
I will pull up a lawn chair and sip fruity drinks as the cops, firemen and teachers burn the mf’er to the ground.
worker (103)-
Dude, please come the realization that it is already long, long gone. Your “promise” of those benefits is about as good as a handwritten IOU from a junkie.
“I love what I do. But don’t take away what was promised to me when I started.”
“I love what I do. But don’t take away what was promised to me when I started.”
Well, you better teach your union some math, because every time the math doesn’t work, the work force ends up without a job. Yes, there are union busters out there, but take something positive from the conversation. Consider their anger your warning shot to make it work. We all went the best education and protection that money can buy. But we don’t got nearly as much money as we once did.
Want to barf? Take a look at how much NJ pension $$$ were thrown at Lehman, Bear, Citi, etc…buying those stocks all the way up to the collapse.
First place the pitchfork mob should hit is Orin Kramer’s place.
(97)
“The difference is you know your going home at the end of the night…”
Oh, please. Every thing out of your mouth sounds like the union talking points (especially during contract/ budget time).
All of the studies I’ve seen rank police nowhere near the top of the lists for the most dangerous working environments.
Gubmint [103] – You might want to Google “Greece pensions”.
But don’t take away what was promised to me when I started.
#04 So you want yours, but tough luck on the crowd coming up. Same attitude with so many home sellers, I wnat big bucks for my house, I am not giving it away and on it goes. Nice legacy left for the next generation.
#94 Jill: IMO The list price is at least 125k too high.
Expat, a lot of the people I work with were chasing that dream. Myself included. By the time we were trained and got into the game though, the tech bubble burst. Ever since then, I’ve always worked in an environment where we were always told we were just soooo lucky to work there, and we could be outsourced at any second. I’m numb to it now. It almost doesn’t even bother me any more. You adapt I guess.
104.The Original NJ Expat says:
March 5, 2012 at 2:27 pm
Brian [85] When contract work was great in the US too:
#94 Jill: Re: apples fall today.
http://www.marketwatch.com/story/tech-stocks-slip-zynga-downgraded-after-run-2012-03-05
Cops….teachers…. Anywhere there is cash the gubmint will try to raid the cookie jar. Bush wanted to turn social security over to Wall St.
113. The Tech boom made lots of people lots money, But it was always heavily tilted in favor of first in and those with ownership equity.
Enough of this belly aching. The economy is doing great, but with higher gas prices we may be headed back to recession.
WSJ reported this weekend that 1.6 million americans have a net worth over two million. Interesting it was reported that 800,000 of the 1.6 million’s net worth was between two million and three million. So only 800,000 people have a networth over three million.
Three million is the new one million. So lets get investing. We all have to break three million asap!!!
Brian,
Maybe we should unionize, demand 4% annual raises, time-and-a-half overtime, funded pensions and full health coverage. :)
Computers are a fad. My uncle told me that in the 1980s. Thinkers is what this world needs. My uncle who is around 80, you can imagine spent the vast majority of his life without a computer. But you know what in the Korea and Vietnam era he build and designed aircraft, electronics and machinery with a team of several hundred men without no damm computers. Sadly in spite of a computer free life and all the great things he built after retirement as a special consultant brought in to lead a team of men to create something that the IT folk 50 years younger said could not be done, he did. He invented the first wireless internet used in a commerical aircraft. His balls are so big if you rubbed some topjob on the bottom of them he could scrub the bathroom floor while taking a piss. Go Big or Go Home. Text books only teach you what we already know our job is to invent the future!
Brian says:
March 5, 2012 at 3:03 pm
Expat, a lot of the people I work with were chasing that dream. Myself included. By the time we were trained and got into the game though, the tech bubble burst. Ever since then, I’ve always worked in an environment where we were always told we were just soooo lucky to work there, and we could be outsourced at any second. I’m numb to it now. It almost doesn’t even bother me any more. You adapt I guess.
104.The Original NJ Expat says:
March 5, 2012 at 2:27 pm
Brian [85] When contract work was great in the US too:
You are right. Now please send everyone on this site $5 dollars a month.
Gubmint worker says:
March 5, 2012 at 12:58 pm
I see today is bash the public employee day. If you do the math for police officers each household pays less than $5 a month. In fact it costs more monthly per household for burglar alarm systems. I make six figures and have been reading this website as you guys post great info on real estate market. Tho I make six figures and have no debt, I still can’t afford to buy a home. You all act like public employees don’t pay taxes to. You cut wages of teachers and police officers and you see what kind of quality education your children get and what type of police officer comes to your home to save your loved one when they need help quick…
Gubmint Worker (103):
Sorry to say that the economy is never coming back the way it was cause it was all a lie based upon people taking on more and more debt. The public sector pay and benefits is directly tied to private sector prosperity. People are flat broke as they are up to their eye balls in debt and taxes. I do not think people will suficiently develerage nor will there be a new technological discovery that will cause a new prosperity for at least another generation.
Then again, maybe if we build one of these it will bring back some jobs….
http://www.zerohedge.com/news/modest-proposal-boost-us-gdp-852-quadrillion-build-imperial-death-star
You are right. Now please send everyone on this site $5 dollars a month.
Please do!
This has to be an estate sale…this house at this price is just insane
I see no recent sales, no mortgages. It’s not short or REO.
What are you buying these days?
117.Brass Balls AKA JJ says:
March 5, 2012 at 3:08 pm
Enough of this belly aching. The economy is doing great, but with higher gas prices we may be headed back to recession.
WSJ reported this weekend that 1.6 million americans have a net worth over two million. Interesting it was reported that 800,000 of the 1.6 million’s net worth was between two million and three million. So only 800,000 people have a networth over three million.
Three million is the new one million. So lets get investing. We all have to break three million asap!!!
I am pretty amazed that no one in the state of NJ would suggest eliminating counties. Giving law enforcement part to the state, and the rest to the towns should slash the property tax by at least 50% of what the county portion currently is. County structure is something left over from the 18th century, it is totally useless in the 21st (except for creating extra patronage jobs).
I hate that they put a fking computer on my motorcycle. The mechanical parts all work great. My newfangled digital speedometer and tach keep kraping out. I drive it anyway, who needs a speedometer.
I like working on my bike but I’m so sick of working on computers when I get home. Why’d they have to put one on my motorcycle?
119.Brass Balls AKA JJ says:
March 5, 2012 at 3:14 pm
Computers are a fad. My uncle told me that in the 1980s. Thinkers is what this world needs. My uncle who is around 80, you can imagine spent the vast majority of his life without a computer.
Gu’bmnt:
“You cut wages of teachers and police officers and you see what kind of quality education your children get and what type of police officer comes to your home to save your loved one when they need help quick…”
Setting aside the issue of class size, are you implying there is some correlation between on the job (officer) conduct and their take home pay? Disenfranchised and underpaid officers? Heavens, no! Will they passively aggressively leave the pencil in the cruiser?
Lib, post 100 was spot on and funny to boot.
126 – I feel the same way about my sunroof.
Gubmint Worker: It isn’t the people on the front lines….it is all the people who sit in offices…..there are too many and they create work for themselves to keep busy….in general, promtions are too easy, benefit programs are broken, double and triple dipping, gaming the pension accrual system…..it is so pervasive, that there is in inherent culture of corruption. The typical worker won’t think it is corrupt, because in context, so many around them are taking advantage of the system……however, the public simply cannot afford it.
If your opinions were formed before 2003, then I think you need to understand just what has occurred in the last 10 years, because it is not obvious unless you are paying attention…….
“I love what I do. But don’t take away what was promised to me when I started.”
And when the scenario plays out exactly as you hope it will not, what are you going to do about it? Will you take your pension dollars by force? Face it, the writing is on the wall, there is no money, you will not receive your pension. You have been fleeced by the generations of public employees before you, duped in fact. Now that there is no one to pass the “con” on to, what do you intend to do?
I like the head-line “Former cop, turns criminal after not receiving promised pension pay-out”
I sincerely hope I live long enough to see this country’s corrupt gubmint and bureaucracy eat itself.
Language: Fluent in English
I see this sometimes on resume. Every time in my life I have interviewed someone with this phrase they have poor English skills, it is like the kiss of death. It is like References available upon request.
RE: I hate that they put a fking computer on my motorcycle
Aside from the heinously ugly exteriors, the latest BMWs have twitter and facebook connectivity via a giant LCD screen sticking out of the dash. Moronic.
The problem with high police pay and pension benefits is that while they are not deserved (based on the job complexity v. what the private sector people are doing) they serve as a reasonably powerful deterrent against the endemic bribery that plagues the [underpaid] police forces of the 3rd world countries.
For teachers, this is a Catch 22 situation: good teachers are worth the current pay and more, bad ones need to be fired but won’t (a) because of the union and 9b) because there is not enough good ones, anyway. If the pay/benefits are reduced we encourage the better/smarter people to move out of the field (or not enter it – already ED majors have the 2nd lowest average SAT scores), making the bad teachers yet more dominant.
#134 Cobbler
What major has the lowest average SAT scores?
business ;-)
[125] cobbler
Under Weld, Massachusetts abolished counties, or rather county governments. Today, the county courts are actually run by the state judicial system, and there are no county police. The only official “county” government agency is the sherriff’s office, which runs county lockups. In reality, these are mini-state agencies.
Here is the wiki on my home county: http://en.wikipedia.org/wiki/Middlesex_County,_Massachusetts#cite_note-5
In addition to getting rid of county governments, Weld successfully integrated several state agencies, notably police agencies. In Mass, the Registry of Motor Vehicles, the Metropolitan District Commission (water supply), the state capital buildings, and the port authority all had their own police forces. They were forcibly rolled up into the state police. Naturally they sued because the state police forbabe facial hair and had physical standards so the doughnut loving cops would suddenly face a washout. Those suits ended badly for the cops.
He also tried to roll up the state colleges into the state university system. Here, he got backlash from the graduates of those institutions who saw their identity disappearing, and from the graduates (including me) of the state flagship university, who saw it as potential gene dilution. He was successful for two state universities (Lowell and Southeastern Mass), but not for the colleges. No one wanted to hear the phrase “UMass-Fitchburg”.
Public workers hated Weld in the way they hate Christie. There were 15,000 fewer of them when he left office than when he started. The voters loved him.
The listing below is why prices will (IMO) continue to fall. Just listed at 399K, taxes are a “delightful” 12k a year. Ask gary if you have any further questions.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1207910&dayssince=&countysearch=false
I’d like to personally kick most of the posters here in the nuts.
[136] cobbler,
That explains why I always considered the business majors to be lightweights.
I recall one business law course, divided equally between business majors and gov/prelaw students. I was in the latter camp. We debated in this class, and the gov/prelaw majors mopped the floor with the b-students. I also took all of the first two years prerequisites for a business degree, and aced all of the b-courses I took. The only B-course I didn’t ace was a junior level “weeder” that was notoriously hard, and which I took as a sophomore. In that class, I only got an AB.
[139] AWM
As my very distant relative, John L. Sullivan, once said to a guy who challenged him, “If you ever hit me, and I find out about it . . . “
3b, I raised you one McMansion in High Bridge @ 300K, with a 13K tax bill and a municipal golf course that is hemmorrhaging money.
Aside from the heinously ugly exteriors, the latest BMWs have twitter and facebook connectivity via a giant LCD screen sticking out of the dash. Moronic.
Never thought a company would succeed with a business model that kills it’s customers, but I continue to be proven wrong there. Maybe we should all take drug dealers a bit more seriously.
[59], from the Atlantic article. Does this guy’s logic sound like he lives in a blue ribbony town? I’m guessing not:
“‘RENTING IS FINANCIAL SUICIDE’
I wish I had bought straight out of college. If I had swallowed my pride and moved into a double-wide, and then upgraded housing as I could afford something better, by now (10 years post graduation) I’d be living in a house that costs $50k more, that would be completely paid off, three towns away from the city I’m in now; and that is not even factoring in house values, that is purely what I would have saved between rent and interest on my current mortgage. And then at any point if I wanted to pull up stake and move somewhere else I could always just rent out my place until I could get the price I was looking for.
I’m 4 years in on my current mortgage, hopefully to be fully paid off in another 4. I’m throwing every spare penny at it. When my house is paid off I will be debt free and will be able to support my current life-style delivering newspapers.
I’d say buy what you can realistically pay off in 3-5 years, and then upgrade as the market conditions are favorable, even if that means living in less then picturesque conditions for a bit.
Home ownership is a big commitment, but in my opinion renting is financial suicide.”
Funny when you take the series 7 at most broker dealers the magic score is exactly passing. Every point above passing means you wasted more and more time studying that you could have been working.
Sometimes the higher the score the less efficient. Get me my damm report in ten minutes or else. A, B student could accomplish that task while an A student could not they are not used to quick just perfect.
cobbler says:
March 5, 2012 at 4:42 pm
business ;-)
All should know that I can no longer find refuge from this board in sports. I couldn’t help but think about this place as the Rangers beat the Bruins, and the Spurs lost to ManU.
Debating? Did you also have a dance off? I took business law and only thing I learned was it is illegal to evade taxes but legal to avoid taxes, my prof has a mansion in NJ coded as a xmas tree farm and he was banging the hot girl in class which is why I could not see him after class. Do people really debate in real life? God almighty imagaine hiring a debator, just do your damm job.
Comrade Nom Deplume says:
March 5, 2012 at 4:49 pm
[136] cobbler,
That explains why I always considered the business majors to be lightweights.
I recall one business law course, divided equally between business majors and gov/prelaw students. I was in the latter camp. We debated in this class, and the gov/prelaw majors mopped the floor with the b-students. I also took all of the first two years prerequisites for a business degree, and aced all of the b-courses I took. The only B-course I didn’t ace was a junior level “weeder” that was notoriously hard, and which I took as a sophomore. In that class, I only got an AB.
Last guy who I know who had a public debate with a client…
…did a great job of exposing the clients’ lack of knowledge and experience, as well as his complete ineptitude, all with a completely valid argument, 100% correct. Client, in a public setting and forced to defend his position, was completely humiliated. Every rebuttal was blown out of the air with a 50 caliber. He mopped the floor with him in a performance that would have probably won him some kind of debating trophy in school. The win should have gained him some kind of mexican wrestling mask, undisputed king of Mixed Martial Arts debating, elevated to hero debator status.
… and it caused us to lose the business as a result. Not even the CEO and President could salvage the disaster. Major layoffs as the whole client team was disbanded, not to mention back-office as well.
He had a 10+ year position on his resume for which he could offer not a single senior level reference. Hell, half his peers were laid off as well.
Go ahead, debate away! We would have all been better off if he majored in groveling and apology. Hell, even a minor in Tact would have helped.
JJ: I just failed…..I was forced to take it last month and scored 96……..pass was 72….I am a moron…. :(
Brass Balls AKA JJ says:
March 5, 2012 at 5:00 pm
Funny when you take the series 7 at most broker dealers the magic score is exactly passing. Every point above passing means you wasted more and more time studying that you could have been working.
Sometimes the higher the score the less efficient. Get me my damm report in ten minutes or else. A, B student could accomplish that task while an A student could not they are not used to quick just perfect.
cobbler says:
March 5, 2012 at 4:42 pm
business ;-)
Most have been what do you sell a ninety year old widow
a) short term low risk bonds
b) B shares in a long term emerging market high fee fund with a heavy penalty for early withdrawl
You must have answered A in error.
chicagofinance says:
March 5, 2012 at 5:46 pm
JJ: I just failed…..I was forced to take it last month and scored 96……..pass was 72….I am a moron…. :(
Only a fool debates in public with a debator. I hope at least he put sugar in your gas tank on way out.
grim says:
March 5, 2012 at 5:37 pm
Last guy who I know who had a public debate with a client…
Well, this will drop Lenny’s housing costs:
http://www.foxnews.com/sports/2012/03/05/dykstra-seeks-to-withdraw-no-contest-plea/
Libtard in the City,
Yes my wife and kids are very pleased. LV is like NYC if it was in a desert but with better parking and more entertainment. The food is great and yes you can get NYC and Jersey style pizza.
Must be said……JJ – I always heard you were a master debater…..
JJ says:
March 5, 2012 at 5:53 pm
Only a fool debates in public with a debator. I hope at least he put sugar in your gas tank on way out.
The costs of restoring barrier islands to the status quo ante:
http://www.nytimes.com/2012/03/06/science/highway-12-outer-banks-lifeline-is-under-siege-by-nature.html
It’s beautiful country. too bad it’s so difficult to maintain access
Shore Guy says:
March 5, 2012 at 6:57 pm
The costs of restoring barrier islands to the status quo ante:
http://www.nytimes.com/2012/03/06/science/highway-12-outer-banks-lifeline-is-under-siege-by-nature.html
Does the road have tolls?
Fix seems easy to me. Toll = Yearly cost to maintain road / total cars driving it
[147] jj
That kinda is my job. And I can’t help that your program didn’t teach you squat.
As for exams, you’re right. A guy that does just enough to pass is efficient. And lucky. I won’t hire a lawyer that relies on luck. Neither should your clients.
As for me, I took two different bar exams, 10 years apart and smoked both of them. But I think that I was efficient insofar as I did what I needed to insure that I passed, and didn’t have to take it again. Also, they weren’t that hard—train like you fight and you’ll fight like you train.
[146] moose,
Damn. Twist that knife a bit more while you’re at it.
NJE,
I am quite fond of much of the OBX. I could easily spend 1/2 of each year in Duck.
Grim,
I have never encountered a toll in NC.
The only –and very short — toll road in NC:
http://www.heraldsun.com/view/full_story/16692670/article-Toll-road-open-for-business-?instance=main_article
NC toll roads are located primarily in and around the triangle.
njescapee says:
March 5, 2012 at 11:00 pm
JJ toll roads are located primarily in and around the hairy triangle.
You are really a excellent webmaster. The web site loading speed is amazing. It sort of feels that you’re doing any distinctive trick. In addition, The contents are masterpiece. you’ve done a excellent job on this matter!
Thank you for the auspicious writeup. It in truth was once a enjoyment account it. Look complicated to far delivered agreeable from you! However, how could we keep in touch?
Great weblog right here! Also your web site quite a bit up fast! What host are you using? Can I am getting your affiliate hyperlink in your host? I want my site loaded up as fast as yours lol
You’re a home run hitter in article writing! Your views this writing are really on the ball. You’ve impressed me with your writing. Thank you. http://www.samsung1080phdtv.net/
Considering that [url=http://www.fahrradstar.de/index.php]Hollandfahrrad[/url]
quoting the actual INTERNAL REVENUE SERVICE polices right generates far too extensive a piece of writing we provide an immediate connect to some sort of web site including every little thing. This INTERNAL REVENUE SERVICE magazines provide you with the situation for your using conclusionsIRS Newsletter 544 “Sale and also other Dispositions associated with Resources – Honest market place worth. Honest marketplace worth (FMV) will be what determines the worthiness the actual IRS permits monetary gift credit. RATES Guide 561 “Determining on-line connected with Donated Property : You will discover 3 major ways of the appraisal involving real estate investment. 1st is comparable Revenue which usually solely includes people with actually marketed along with should be documented within the state recorders books showing brands of the buyer as well as retailer, the actual deed publication and also web page range, the particular time frame associated with sale made in addition to price tag, a house information, the amount along with phrases involving mortgage loans, property research, the evaluated worth, this taxes rate, and also the assessor’s estimated FMV. There isn’t any [url=http://www.fahrradstar.de/index.php]Fahrrad[/url]
differentiation in between brand new real estate in addition to selling real estate investment and also timeshares tend to be defined and also governed as property. Additionally, ebay is just not a new lawful comparable sale made. Having a lot of legitimate comparable product sales, those furthest from your majority are usually the very least deemed and because many product sales for virtually any location usually are these offered Because of the holiday resort, the actual retail store cost is actually storage room towards the majority, not some ebay cost that’s definitely not useable. The second is Capitalization of Cash flow. This requires revenue generation from the asses. This doesn’t happen definitely apply at timeshares generally. 3rd is actually Substitute Price tag Fresh or perhaps Duplication Charge Subtracting Discovered Depreciation. The moment distributed for any price, wherever as well as at what charge would likely the main proprietor include to locate a substitute regarding model, day, and conditions? Really the only http://ebooks.cambridge.org reputable origin would be the direct vacation resort revenue and it’s really store rates. One particular critical extenuating aspect is usually Strange Market Conditions. Specifically the idea affirms, inches… liquidation sale made price ranges will not show the FMV. inches In other words, individuals revenue produced whenever a operator purely says, “Get me away from something you can get. FAST! inch don’t need to consider a measure connected with FMV. Essentially the most tolerable worth arises from the charge or Price tag with the Donated Home. The price obtained from the experienced business upon resell may be the very best indicator of the units distinct FMV. However, unless such a resale some sort of benefit all the way to $5, 000 can be paid from the receiving NPO lacking any assessment. This specific may issue this timing of the reselling. IRS Kind 8282 – “Donee Facts Give back (Purchase, Trade, or perhaps Various other Personality regarding Donated Property”. This is actually the best reference to timing involving FMV in addition to sales price tag. This RATES is actually specific says that the evaluation of FMV could have, yet is usually instantly transformed when there is a new resell inside of three years. SUMMATION: 1. Reasonable Market place Worth (FMV) is established ONLY by simply specific comparables giving titles, state report websites, days, dollar sums, etc. only two. A simple liquidation sale won’t are eligible being a FMV. 3. Auction web sites is just not a knowledgeable comparable. four. Acceptable comparables are charged closest on the normal sale made price tag of a lot of sales in which qualify since FMV which are hotel income. 5. When a real sale made is done, [url=http://www.sofa-sofas.de/]sofa[/url]
it will take precedence over in addition to estimated FMV. 6. To ensure your selling price to take priority that has to be just a thirty six 30 days phase of the time frame regarding monetary gift or even this IRS . GOV isn’t going to wish to contemplate it. 7. Any deduction of more than $5, 000 needs a authorized value determination. $5, 000 is the upper restrict associated with worth inside preceding skills. With regard to specific prices head over to.
You’re in reality a good webmaster. The web site loading speed is incredible. It kind of feels that you’re doing any distinctive trick. In addition, The contents are masterwork. you’ve performed a excellent activity on this matter!
i don’t like the article display in this site very much.http://www.iguinhojogos.net
Fantastic site. A lot of helpful info here. I am sending it to a few buddies ans also sharing in delicious. And of course, thanks in your effort!
DIvuKZ Awesome post.Really thank you!
SEP IRA tips [url=http://correiacorp.com/ee/index.php/member/442/]Jantes alu[/url] can be examine in greater detail inside INTERNAL REVENUE SERVICE Club 560. In such a area I’ve got created many of the most simple protocols pertaining to SEP IRA projects men and women will have many inquiries for. UNDERSTAND RIGHT LESS THAN ON HOW TO ASCERTAIN A good SEP IRA. SEP IRA Policies at Plan EstablishmentI i am always asked when can easily a powerful employer create and promote a SEP approach. The result can be anytime the employer’s tax burden returning is born. When a powerful workplace information an extendable, its SEP factor final target time furthermore lengthens routinely. Eligibility RulesAll staff members meet the criteria to help you get involved assuming that they’re not less than 7 yr old, been employed by to your workplace regarding three or more from the prior all 5 12 months and now have gained at the least $500 inside wage for that duty season. In spite of this, the actual eligibility requirements could be a bit more lenient, but it surely is not extra rigorous or maybe restraining than the previously. Tax burden Treatment method of Funds With WithdrawalFunds taken from a SEP accounts will be taxed during average income tax costs. 1 ought to be fifty nine . 5 yoa for you to qualify for write offs. This is certainly virtually no unique of a standard IRA strategy. Many contributions to your [url=http://www.kevinchiu.com/index.php/member/5270/]Jantes[/url] SEP method will be tax deductible inside the duty [url=http://athire.com/member/59353/]Pneus 4×4[/url] yr offered, hence reaping helpful benefits the employer/contributor in model of some sort of place a burden on discount. SEP IRA Principles about DistributionThere is not a main difference within the SEP IRA principles regarding supply compared to an authentic IRA approach. The traditional IRA system service procedures are convinced that an individual have to get distributions in the end in due course. It is labeled as the mandatory flahbacks or even submission years. Money which can be remove before a person’s eligibility time frame usually are taxed and also disciplined [url=http://www.roofmagazine.org.uk/member/332383/]Llantas[/url] very intensely. This is the very first thing you are unable to want to serve! Any suitable supply age is fifty nine . 5, that is normally within and also in the vicinity of retirement for lots of. Distributions former to now are punished by just 10%. In addition to the particular owner will pay for income tax influenced by its present-day common tax charge. Distributions as soon as the eligibility grow old in 59 . 5 will be taxed, however is not reprimanded. An additional level earlier than walking about the 10% fine; this is not going to relate to help you figures that will be not necessarily taxable. One example is, distributions for rotate about uses which are re-deposited within another retirement plan strategy or bank account inside of 61 days or weeks connected with receipt usually are not be subject to every charges. Additionally, there are other situations [url=http://www.christophniemann.com/index.php/member/90666]Neumaticos[/url] from where the INTEREST RATES from time to time will waive the particular substantial 10% consequence when and when earlier distributions are utilized intended for particular functions. Let me consider most of these intimately: Healthcare Expense and also InsuranceThe regulations [url=http://www.uawlocal145.com/index.php/member/380/]Pneu hiver[/url] supplies several leniency for anybody who is in times where you have unreimbursed health related bills that will transcend 7.
I’m extremely impressed along with your writing abilities and also with the structure to your blog. Is that this a paid subject matter or did you customize it your self? Either way keep up the nice quality writing, it’s uncommon to look a nice blog like this one today..
of course like your web-site however you have to take a look at the spelling on quite a few of your posts. A number of them are rife with spelling issues and I find it very bothersome to inform the reality nevertheless I’ll certainly come back again.