Oct. 7, 2008 - Today was the day that was

A rollercoaster of a ride today

I started my day by attending a Century 21 sponsored seminar by motivational speaker, Mike Lipkin.  His message was not neccessarily designed for REALTORs, but inspirational, nonetheless.  One of his messages was keeping your eye on the prize.  And, his style and delivery was, somewhat, unique in that Mike's perspective is a world perspective.  You see, he is a South African living in Canada. While not emersing himself into our presidential politics, he informed the audience of perceptions outside our borders of the race for the White House.

Mike spoke of preparedness, being present, being generous, thinking big, listenening magnetically and energizing yourself; among other topics.  Now, all of this is not new to me, but it has helped me to refocus and recharge.  We all get distracted at times, right?

With the stock market tanking another day, I realized this evening how strongly I absorbed his message.  Yesterday morning I called my 401K administrator and made an appointment to make changes to my plan today.  I went into the meeting intent upon cutting my loses.  I wanted to protect my assests, as best I could. However, I did retain an open mind to what the expert had to say.  She was honest enough to say nobody knows how far this market will swing.  She did make it clear that she would do whatever I instructed her to do and I didn't need to make a decision today.

At at the end of the day, with mind over emotion, I remained in the game.  I had taken Mike's message to heart.  Unknowingly, at the time,I recognized the prize, for me and my family, is a more secure retirement that unfortunately will come now later rather than sooner.

As I write this, looking back over the last twenty-four hours, I went from two emotional highs; learning a nephew became a father for the first time and getting pumped by a motivational speaker to learning the market plunged 500 points, to making modest, not radical, changes to investments.  On top of it all, the evening was capped with the presidential debate without a stated plan, by either party, to get us out of this economic mess. Coney Island's Cyclone was never as wild a ride as my emotions have run today.  I think I will sleep well tonight knowing tomorrow I'll renwew my commitment to raise the level of my service to my clients and customers.

Sep. 29, 2008 - The wild ride ain't over yet

Congress rejects the bailout

We woke this morning to learn another bank has fallen.  Wachovia, has been bought by Citigroup.  As I write this, it's being reported that Congress voted down the Emergency Economic Stabilization Act of 2008.  It seems that the members of Congress don't see this as much of an emergency as the media told us over the last ten days.  House Speaker, Pelosi will take the heat for the comment, "We sent a message to Wall Street - the party is over."  I do believe, that comment was disingenuous or stupid, at best; setting-up this bill up for failure. 

Why? Well, many Americans wanted a pound of flesh for excessive executive compensation for poor corporate performance and this bill falled to address that head-on.  Under the proposed plan, current CEO's with valid contracts would not even be affected by the new law, had it passed.  Homeowners felt left out of the cleansing of bad loans. Not only has Wall Street been spining out of control, so have American household bugets.  A successful bailout must address both. In reaction to the public's outcry congress, republicans and dems alike, voted to save their congressional seats and partisan politics raised it's ugly head...again. 

So, now what?  Will we see the world stop turning, as promised by President Bush, Secretary Paulson, Chairman Bernanke and the leaders of Congress because this deal wan't quickly done?  I seriously doubt it. Congress and the president's advisors will be forced to go back to work and draft a plan that is more acceptable to middle-class America.

But, in the meantime, I suspect that the FDIC will foster more mergers, the stock market will drop, mortgage rates will continue to rise and credit will tighten for prospective homeowners. The political blame game will go on, as usual.

On a positive note: with the threat of a larger recession, one benefit we could see is a drop in oil prices.  Maybe, just maybe, Americans have moved-on from the motivation of the politics of fear.  Every incumbent should be very afraid on election day.

Sep. 25, 2008 - A crisis twenty years in the making

Wall Street revisited

Honestly, I do not fully understand all that the current Wall Street meltdown/crisis entails.   But, what I do know and understand is that greed is clearly at the center.  Not just greed on the part of Wall Street bankers, corporations, politicians, but greed on the part of some mortgage brokers who pushed through unqualified borrowers, borrowers who knew they could not afford the homes being purchased and, yes, some lousy real estate agents hungry for another fat commission check.

Greed has been a cornerstone of a rabid culture that permeated American business and politics for more than twenty years.  Golden parachutes became a standard for senior managements that ensured their personal wealth whether or not companies performed well or even survived. It was "justified", in part, as a trickle down theory that said the wealth would well; trickle down from the top to the bottom.  Fictional character, Gordon Gekko, told the world in the movie Wall Street, "Greed is good." Greed is never “good” and is seen throughout the world as one of the seven deadly sins. Sadly, some of us believed him.

Watch Scene from "Wall Street"

Sep. 10, 2008 - Remembering our Heroes

On the eve of another anniversary of the attacks on America, we honor those who lost their lives September 11, 2001. 

We Will Never Forget

A Special Tribute to the Airline Crews of UA 93, 175 and AA 11, 77

You are missed.  Rest in Peace

http://www.unitedafa.org/res/o/911/memoriam.asp

http://www.unitedafa.org/res/o/911/memorial/services_2008.htm  

http://www.legacy.com/Sept11/Home.aspx 

Aug. 31, 2008 - Happy Labor Day

The Origins

The origins of Labor Day in the United States are not well known.  It is generally believed that this “last summer holiday”, as we now know it, began more than 100 years ago n New York City. 

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

We might pay homage, as a memorial, to the men and women of the l9th century who gave us the economic base our working men and women enjoy today. 

For more on Labor Day visit the U.S Department of Labor online.

Aug. 16, 2008 - Getting beyond the cover

10 things you probably didn’t know about me

1. I’ve stood on the Great Wall of China and in the alleys of a Moroccan Casbah.
2. True to my astrological sign, I’ve always been a “homebody” and consider my home to be a sanctuary from the world.
3. My Franklin Township home is located approximately 60 miles from my childhood hometown, where my family has had the same neighbors for more than 50 years.
4. I still keep in touch with childhood friends.  In fact, we get together in our hometown every year. The next reunion is only weeks away.
5. Some people don’t get past my hard shell to find a soft heart.
6. Two passions of mine are music (from classical to R&B)  and art. Favorite artist are: Salvador Dali, Jacob Lawrence and Picasso.
7. I hope to travel to Dubai, United Arab Emirates within the next 6 months.
8. It’s the creative marketing of real estate, new technologies and problem solving that really excites me about this business.
9. I’ve owned at least one pet for most of my life.  My last two pets, cats named Kidd and Pharaoh lived for 16 and 22 years, respectively.
10. One of my great pleasures in life is helping others in need which is what lead me to a carreer in real estate.  

Aug. 7, 2008 - Living the DREAM

A visit to Caberete's DREAM Project 

Last month I posted that my family had undertaken a fund raiser for the DREAM Project, an organization that provides a quality education for disavantaged youth, in the Dominican Republic.  This was in conjunction with our family reunion located in Puerto Plata, Dominican Republic. A visit to the DREAM Project was also planned.

Along with nine other family and friends, I saw firsthand, the work being accomplished with our donations to this worthy cause.  Thanks to the generosity of my family and friends, together we trippled our fund raising goal.  While at the school, we learned that not only do these kids get a quality education, they also receive breakfast and lunch. The day we visited was next to the last day of summer camp where learning is disguised as fun. You will notice the kids learning math while playing UNO.

Below is a short video created from photos of our visit to the DREAM Project, located in nearby Caberete.  

Click to view

For more information on how you can help go to: http://www.dominicandream.org/ or contact them at: P.O. Box 4136, Ithaca, NY 14852, Tel: (607) 257-1981.  Their 5-year report can be downloaded at: http://www.dominicandream.org/documents/fiveyearreport.pdf

Jul. 2, 2008 - Giving back to the greater community

Together we can make a difference

One of the reasons that I entered the business of real estate is that I truly enjoy helping others. I’ve spent more than 31 years in another service industry that has taken me to 5 of the seven continents and more than 25 countries. Some of what I’ve experienced has helped me to appreciate more of what, we here in the United States, often take for granted. My travels have exposed me to the needs of others.

I am currently raising funds and awareness for two charities serving the Island of Hispañola, occupied by The Dominican Republic and Haiti.

The first organization is the DREAM Project, providing education to impoverished children residing in remote villages surrounding Puerto Plata and Caberete, Domincan Rebublic.  If you wish to help, my family is in the final two week sprint of the campaign. Make checks payable to the DREAM Project and send to MJ Adams, P.O. Box 5243, Somerset, NJ 08875-5243 before July 16, 2008.  No donation is too small or too big.  The DREAM Project is a US tax deductible charity.  A five year report is available online.  Watch their Video: We Are the Ones We Have Been Waiting for

The second charity is Give them A Hand Foundation along with partners World Care, International Renewal Energy Organization (IREO)  Haitian organization, Gift of Water together with Honorary Chairman, Haiti’s Consul General, Felix Augustin are holding an event to raise funds for the purchase of personal water purification systems for 1,200 households in Juampas, Haiti. The long term goal is to reach up to 10,000 households throughout the Plateau Central in Haiti.

Did you know Did you know...?

• Contaminated water is the leading cause of death among Haiti’s infants and young

children.

• 80% of the deaths in Haiti are caused by waterborne diseases.

A fundraising event is planned for JULY 17, 2008 AT CLUB AZZA, 137 EAST 55^TH STREET from 6:30 – 10:30 PM.  Admission to this event will be $60 which will include refreshments and entertainment by DJ and by Recording Artist, “ MelSoulTree”.

For more information contact:

Gordon Tapper - GTAH

973.333.9291

e-mail: Info@gtah.org

www.gtah.org

•Peggy Clark - World Care

www.worldcare.org

•Robson Mello - IREO

1.516.790.0310

www.ireoigo.org

May. 24, 2008 - Memorial Day 2008

We salute you

To the men and women of the U.S. Armed Forces

Thank You

Credit for this moving video goes to The Evergreen Freedom Foundation

May. 5, 2008 - Another reason why I love this Blog

1000 Watts on Chip

I've posted about 1000Watt Blog in the past.  In particular I commented on their "I'm not a lead" video that made me an instant fan.

Last week's schedule for me was jam-packed, so I needed to put a few things to the side. Blogging and reading favorite blogs took the hit.  This morning while playing catch-up, I read Marc Davison's posting. "There's something about Chip".  Again, like the video mentioned, this Blog blew me away. 

Chip's story and message is so inspirational.  He shares a simple philosophy that is often overlooked in today's business world.   It is a lesson my father taught to me when I was a boy; "Your word is your bond"; pure and simple.  Chip's message is essentially the same; be on time, deliver what you promise and offer the customer value.

Thanks to Chip and Marc for helping to keep my path on track.  

Feb. 8, 2008 - There, but for the grace....

Helping this week's tornado victims

Living here in central New Jersey we sometimes fall into a false sense of security when we hear news of tornadoes and earthquakes. It's not that long ago that a tornado swept through parts of Brooklyn, New York.  These forces of nature could very well happen here. 

The real estate community is joining forces to help the victims of 5 states who are affected by the severe tornadoes this past week. And, you can help too.  Through 1000wattblog.com I learned of the efforts of Agent genius to help our fellow citzens.

I join them both in encouraging you to give what you can and to help spread this message by word of mouth, your websites and/or blogs. 

Go to Bloodhound.com to find code that you can use to post buttons on your blog to help raise funds  They all incorporate Jay Thompson's Pay Pal interface.

Nov. 18, 2007 - Thanksgiving 2007

What it means to me

For me, over the years Thanksgiving Day meant a trip to my mom's house; the Queens, NY home I grew up in. It was a chance to be with siblings, nieces, nephews, distant cousins, aunts, uncles and long time family friends. Not to brag but my mother, now in her eighties, still is a master cook. In preparation for the fest, she would have been cooking for more than a week; freezing what was finished. The menu would include the traditional turkey but continue with fresh ham, "string" beans, collard greens, peas & rice, sweet potatos, potato salad, homemade cranberry sauce along with assorted homemade cakes, pies and there was always room for Jello. Without exaggeration, easily 75-100 family members and friends would stop by in shifts for a plate (or two) of my mom's cooking. Tables were set-up in the dining room, breakfast room, living room and of course the "kids' table" in the basement. Mom, has retired from staging this event for several years. And honestly, I don't think anyone will every duplicate that total experience ever again.

Now that I'm a lot older and I would like to think, a little wiser; Thanksgiving has taken on a more subdued day for me. It's become less about stuffing my face and more about reflecting on what is important and truly what I am thankful for. Here is my top ten list, in no particular order:

I am thankful for my family and my close friends, who really are family without sharing the same gene pool. ( I still keep in contact with friends I've known for more than 50 years.)

With no disrespect to other nationals, I am thankful to have been born in the USA with the opportunity to have traveled the world. Having had experiences in underdeveloped countries, I am thankful for fresh food to eat and clean water to drink.

I am thankful to be in reasonably good health. As an adult, I've not spent a single night in a hospital bed.

I am thankful to own a comfortable and affordable home.

I am thankful to have a steady source of income and a (maybe foolish) sense of economic security.

I am thankful for the opportunity to expand my career horizons, contacts and knowledge.

I am thankful for the solid moral/ethical foundation that my parents instilled in me as a child.

I am thankful to have the ability to give back to my global community. I encourgae you to join me in support of Hope Unlimited for Children, the DREAM Project and the Franklin Township Food Bank.

I am thankful to you who are reading my Blog.

I am thankful to be blessed and to have awakened another day.

However you spend your day, may you enjoy a very Happy Thanksgiving.

Nov. 9, 2007 - A salute to our heroes

Honoring our heroes

This Sunday, November 11th, we honor those who gave service to our country in the armed forces. It's hard for me to believe that this year marks the 25^th anniversary of the veteran's "Wall" in Washington D.C. honoring those who've paid the ultimate price of freedom during the Vietnam war.

This weekend as you walk or drive along DeMott Lane between New Brunswick and Amwell roads and our flags wave in the blowing winds, give a moment's thought to the sacrafices being made by our troops.

Please join me in thanking our veterans, past and present, and especially those Franklin Township neighbors who made the unselfish commitment of military service that benefits each and every one of us every day.

"How important it is for us to recognize and celebrate our heroes and she-roes!" ~ Maya Angelou

May our troops return home safe, sound and swiftly. Read about the history of Veterans Day.

Oct. 11, 2007 - The National Affordable Housing Act passes

Bush threatens a veto

The Democrats may be headed for another showdown with President Bush as the U.S. House of Representatives yesterday passed H.R. 2895, the National Affordable Housing Trust Fund Act of 2007 by a vote of 264 to 148. The National Affordable Housing Trust Fund will be the largest expansion in federal housing programs in decades, with a goal of producing, rehabilitating and preserving 1.5 million housing units over the next 10 years. The bill will initially allocate between $800 million and $1 billion annually directly to states and local communities, without increasing government spending or the federal deficit. The administration was on record threatening to veto this measure earlier this week.

Three of the major housing trade groups are supporting the housing trust fund, including National Association of Home Builders, Mortgage Brokers Association, and the National Association of Realtors (NAR).

The National Affordable Housing Trust Fund, according to the House Financial Services Committee release, is an important step in addressing the affordable housing crisis in our country. In addition to the trust fund, the House of Representatives passed last month,H.R. 1852, the Expanding American Homeownership Act of 2007, to reform the Federal Housing Administration (FHA), which will enable the program to serve more subprime borrowers at affordable rates and terms, recapture borrowers that may have received risky loan products in recent years, and offer refinancing opportunities to borrowers currently struggling.

On May 23, 2007, the House passed H.R. 1427, reforms of the Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac, and the Federal Home Loan Bank system, allowing these entities to purchase more loans in higher cost areas (lowering interest rates for new homes and refinances in those areas). The bill also seeks to increase liquidity now by asking federal regulators to reconsider artificial restrictions on the number of loans that the GSEs can own.

Send a note of thanks if your Congressional Representative voted for this bill. If s/he didn't; let him/her know this bill has your support and regardless of this administrations threat to veto, you want this act to become law. Contact your Congressional Representative(s) here. Why not do it now?

Summary of the National Affordable Housing Trust Fund Act

Funding of the Trust Fund: The goal of the Trust Fund is to construct, rehabilitate, and preserve 1,500,000 units of housing over the next 10 years. The bill seeks to accomplish this with funding from the proposed GSE Affordable Housing Fund (H.R. 1427), FHA savings that result from the enactment of the Expanding American Homeownership Act (HR 1852), and any other sources of funds subsequently identified.

Formula under the Trust Fund: 60% of monies will go to participating local jurisdictions and 40% to states, Indian Tribes and insular areas. A proportionate amount of funds to States must go to rural areas in each State. If the total amount available in any year is less than $2 billion, there is a $750,000 minimum funding threshold for local jurisdictions.

Targeting under the Trust Fund: All Trust Fund monies must be used for low income families (below 80% of state or local median income), except that this income ceiling is reduced to 60% of local median income if annual funding in any year is less than $2 billion. At least 75% of funds must go to extremely low-income families (below 30% of median income or below the national poverty level). At least 30% of funds must go to families with incomes below the SSI income limit. In addition, at least 10% of funds must go to families with incomes over 50% of the local area median income.

Eligible Recipients of Trust Fund Monies: States, participating local jurisdictions, and insular areas are required to make Trust Fund grants to eligible recipients, which can be any organization, agency, or other entity, including for-profits, nonprofits, and faith-based organizations, that have demonstrated the experience and the capacity to carry out the proposed Trust Fund activity. HUD allocates grants to Indian tribes by competition.

Eligible Uses of Trust Fund Monies: The bill would allow Trust Fund monies for construction, rehabilitation, acquisition, preservation incentives (including for manufactured housing and community land trusts) and operating assistance to facilitate affordability. Funds may be used for both rental housing that is affordable and for down payment and closing cost assistance by first time homebuyers.

Prohibited Uses: The bill includes prohibitions against any funds being used for administrative costs or expenses, political activities, advocacy, lobbying, counseling, travel expenses, and preparation of or advice on tax returns. In addition there is a requirement that grantee develop systems to ensure program compliance, and require annual state fund use reports, and authority for HUD to impose penalties on states that do not comply with requirements, including requiring states and grantees to reimburse misused funds.

Matching Requirements of the Trust Fund: The bill requires a match for Trust Fund dollars equal to 12.5% if provided from state, local and private resources or 25% if provided from federal sources. Up to 33% of this match may be provided through binding commitments to provide services for residents. The match may be reduced or waived where a zoning variance or other waiver of regulatory barriers was required to site Trust Fund-assisted housing.

Sources: House Financial Services Committee, BuilderOnline.com

Sep. 19, 2007 - Stop the New Jersey Home Sales Tax

How you can help

At long last, I received my property tax relief check in th mail today. So, if you qualified for the rebate and haven't yet received it, it probably will be there soon.  As projected, it amounted to 20% of my real estate taxes paid last year. If only the politicians would figure out a way how not to collect the refunded money in the first place; that would really make my day.

Now, the bad news.  There is state legislation being considered to allow local governments to impose a Local Home Sales Tax on the sale of real property.   As I've posted here in the past, the tax would be in the amount of $0.50 per $500 of a home's sales price and this local tax would be in addition to the current Home Sales Tax that is paid to the state.  

The proposed 13% tax increase would raise the tax on a $356,700 (median price for an existing NJ home) from $2,799 to $3,156. This legislation is submitted as Bills A-3190/S-2643, A-3341, A-3387 and S-2080.

Let your state legislators know that you are opposed to a tax that will erode homeowner equity.   You can sign the petition to stop the tax at: http://www.njhometax.com/

Whether you are a homeowner today or hoping to be one in the future, please let your legislators know that allowing local municipalities to charge a home sales tax on top of the state tax is a bad idea.  Send a message directly to them at: http://takeaction.realtoractioncenter.com/campaign/njhomesalestaxp 

You should know that the New Jersey Association of REALTORS (NJAR) is working on homeowners' behalf to defeat New Jersey's Local Home Sales Tax!

Sep. 12, 2007 - Residential Sales Report Delayed

Error found in MLS stats

While pepariing to post the August Residential Sales Report for Franklin Township here, I discovered an error which misrepresented "sold" prices.  The error was reported and, hopefully, the correction will be made within a day or two.  I will post the new stats as soon as they become available.

Sep. 10, 2007 - Never Forget Our Heroes

Honoring our heroes

On the sixth anniversary of the September 11^th  attacks, and attention is paid to those who lost their lives in New York City and Washington, I invite you to join me in also remembering the brave airline crews of United 93, United 175, American 11 and American 77.  These incredible men and women were our country's first line of defense on that historic day.  My thoughts and prayers are with them and their families.

May you never be forgotten.  May you rest in eternal peace.

Aug. 6, 2007 - State legislators givith and take away...if we let them

May. 28, 2007 - Memorial Day 2007

To view Faces of the Fallen Click Here

To the men and women of the US Armed forces...

Thank you for all that you do

May. 27, 2007 - Transforming lives

Saving Sao Paulo's Street Kids 

“Transforming the lives of children at mortal risk, providing them and their future generations a productive future and eternal hope” is the mission of Hope Unlimited for Children, brainchild of Americans Phillip Smith and his father Rev. Jack Smith.  The program is a three step approach of rescue, transformation, and reintegration.  There are approximately 7 million children living on the streets of Brazil whose survival rate is only three to four years. 

After years of lending personal financial support, recently I was blessed with making (what will become) my first visit to a remarkable place located near Campinas, Brazil.  Campinas is approximately 1.5 hours drive, north of Sao Paulo. This safe haven is currently giving 180 boys and 60 girls a sense of self-worth, a structured family setting, life-skills and introduces each to our Heavenly Father.  I witnessed young lives being transformed from hopelessness into hope. The kids are mentored even after leaving the campus at the age of eigthteen and moving into transitional housing.  You, too, can make a positive difference in the lives of these kids...if only one at a time. 

I got to meet several boys, including Artemis and Jefferson, who proudly showed contents of the very organized closets which held their worldly possessions.  Each group home houses 16 boys along with house parents.  A councilor commented how the closets correlated with issues in the boys' daily lives.  When problems arise it becomes noticeable how the closet becomes disorganized.   

My short visit was amazing in more ways than one.  Phillip told his personal story and that of a young boy who he first met while growing up in Ethiopia where his father began taking in street kids and housing them in their back yard.  One of those kids is the father of  Amos Disasa.  Well, I had just met Amos outside a classroom who had become a pastor at the Eastminster Presbyterian Church, Columbia, South Carolina.  Amos and members of the church congregation were revisiting the campus after 10 years.  It was the Eastminster Church that spearheaded the acquisition of the girls' group homes at Hope Unlimited.  The girls are transported to the Boys' City to attend classes and return nightly to a protected and beautiful home shared by 13 others, per household, in addition to a house mom.

Learn more about the daily miracles taking place at Hope Unlimited and how you can help by going to www.hopeunlimited.org or contact me directly at mjadams@century21.com

Other Links: Hope Enterprises; NBC Nightly News; Share with a Friend