FTB…WTF?

Franchise Tax Board of California… I have a message for you!  I realize the State of California is experiencing an 19 billion dollar shortfall however, YOU are NOT going to DIG yourselves out of the mess YOU placed us all in by “sticking it to the little guys”.   You know, the taxpayers of California.  I am so enraged with the lack of competence and regard for the very people who not only pays your salaries but unwittingly voted you in office!

A dear friend of mine recently received a “proposed assessment” [I love the wording there, it implies "we're about to screw you man...hang tight!" and yet allows room for error should you challenge the proposal].  My Friend did have an unpaid tax balance from 2007 which he paid in full along with a bunch of miscellaneous and superfluous fees and settled this.  The unpaid balance was reported by the IRS to FTB as part of their “arrangement”.  An arrangement I liken to publishing houses that offer magazine subscriptions, you subscribe to Home & Garden and next thing you know they are sending you Hustler, Playboy, Gay & Lesbian Times, AutoWorld and let’s not forget “O” [Thank you Ms. Winfrey!]

Still, in a State that was once burgeoning with opportunities and the prospects of a good living with reasonable taxes, California has become a laughable rendition of what Government should be “For the People, by the People”.  What happened to that?  We’re living in a State that hikes up toll charges [A Tax no matter what "they" call it] without voter approval??]  A state that charges 4 different taxed on vehicle registrations… and a State that abuses it’s police power to collect taxes [taxes that are not even due] to its residents and citizens.

I am heart-broken and completely “turned off” with California, no longer are you the Golden State.  Instead you should be regarded as the “Moldy” State, stagnant with incumbents that only appear in Public when their seats are challenged or election times.  I used to think that California was one of those States that got things right, call me crazy but I think that Arnold Shwarzenegger was good for California.  I supported him when he forced State Workers to take mandatory furloughs, mandatory only because California simple DID NOT have the money to pay them.

In My opinion ALL Civil Service Workers should work for FREE, why should we go without basic necessities so “they” can have all the perks and benefits.  Sadly, the epidemic has spread and I don’t know if it originated in Washington and trickled down to the States or vice versa, but America is a Country without any real  plan or direction.  We’re rapidly digressing into a Nation that does not seem to have a clue how to treat its people.

As for the Franchise Tax Board of California with your extremely top-heavy “Executive” office… I propose this on behalf of My Friend:  He will offer you 10% of the “proposed assessment” in exchange of YOU taking a 60% pay cut.  Just until the budget shortfall is balanced [and NOT from raping and pillaging the working class].  Deal?

PLEASE repost this, share with your friends and family, let’s make this viral as at the end of the day all we have is a VOICE and the faith that there are others experiencing this same type of strife and share in the feeling of disenfranchisement.

Thank you!

Business Logos Change with the Tides

The good folks at Business Pundit Bring us these excellent images as they reflect the change in the economic conditions.

Are The Rules Changing Fast Enough?… For Everybody?

With sweeping changes happening [as I type] in Washington as it pertains to Financial Reform and States all across the Nation writing Anti-Predatory Legislation to “avoid” another housing crisis.  The question that comes to My mind is are [We] changing the rules fast enough and… are they applicable to all the players in the game? In other words, are we singling out certain industries only and not blanketing ALL the players in the housing game.

Any homeowner knows that it takes a village to make homeownership possible:

• The Real Estate Agent
• The Mortgage Broker
• The Appraiser
• The Escrow Officer
• The Title Officer
• Home Inspector
• Underwriter
• Processor
• Funder
• Home Owner Insurance Agent
• Pest Inspector
• And Many Other “Support Players”

Yet despite all the players in this all important transaction, why is so much emphasis being placed on the Lenders/Originators?  Now don’t get me wrong, I am not attempting to shake things up here for anyone directly or indirectly involved in Real Estate.  It just seems that regulation although needed in Banking & Credit is actually already doing more harm than good.  One need only skip down to their friendly bank and apply for a loan to experience the “No Can Do” look from the Banker or Loan Officer.  With so much focus on Lending and the high value target in Washington for those opposing Financial Reform, lobbyist are being deployed all over the Country to persuade our Representatives to either support or not support legislation.  With recent tragedies such as the Gulf Oil Spill and Afghanistan [Rising numbers in US Soldiers being Killed] the focus has conveniently been taken off this once hot button issue.  Is Our current Administration a one trick pony?  Or are they just being coy with the bill amidst numerous issues?  At the end of the day, it is just politics however the question that begs to be asked is Why isn’t any other Housing Service Provider being targeted in terms of reform?

It seems to me that many industries have voluntarily made some rather admirable steps to “self regulate” and to this I say GREAT but will those same policies be in effect when the next boom comes around?

Too often we hear about the roles Bankers and Mortgage Originators played in the cause of this housing crisis, and quite frankly it upsets me [An American with a reasonable intelligence level].  All the players in this game deserves some share of the “blame” and absolutely must (a) Admit that fact (b) Resolve to change their ways (c) Revamp their business practices and policies to reflect a “zero tolerance” policy towards unethical behavior.

It’s all pretty simple really… a general rule to follow is “Ethics supersede the LAW!”  If it does not sound legal, it probably should not be practiced.

I decided to write this post to share this sentiment that has eaten away at me for three years!  I wanted to point out and go on record in saying that “We” all drank the koolaid and became seduced by the ease and rewards of the Real Estate Industry.  That seduction came with a very high price tag, beyond that of People that TRUSTED Us to act as their fiduciary.  We ALL had a hand in the crisis and WE ALL are to blame for the fact that hard-working Americans everywhere are suffering and struggling with pending foreclosures and bankruptcies.  Our Parents who should be enjoying their retirement and traveling the Globe are flipping Burgers and even working TWO Jobs to pay not only their bills… but OURS too!  Our Children are so sheltered and so overprotective that they have NO CLUE what they are in for.  How is this healthy?  Shielding them from the truth serves no purpose other than the creation of dense and clueless children that grow up to be ambivalent Adults.

Change begins with ME!  How about you?  When and where does change occur?

Bernanke Says The “Ride” Is NOT Over… Buckle Up America, More Bumps Ahead

Amongst the many points Bernanke shared in front of the 18 Member House Panel created by President Obama.  Including a tough choice between Tax Cuts or Social Security Cuts.  Although up until now Bernanke has been reluctant in commenting on Taxes unlike former Fed Chairman Greenspan who publically supported President Bush’s tax cuts.

Bernanke also spoke on housing and whether America would experience a “Double Dip” Recession.  Bernanke quelled Our nerves enough to cause the Dow Industrial Average to come up above negative territory, however it’s going to take a lot more than carefully chosen words from the Chariman to help Our economy.

With unemployment at 9.7% and fewer new jobs being created, America is struggling as are Our Counterparts in European Countries.  Greece is a good example of the many economic implosions wreaking havoc all over the World.

The US must also tackle the 800 pound Gorilla sitting smack dab in the middle of Obama’s Desk… Our Deficit which is swelling faster than a beached whale in July.  Add to this the Gulf Oil Disaster which in of itself is causing tremendous strife and worry for ALL Gulf Residents and WILL come with an enormous bill to Americans despite what we’re being told.

Regardless of the temporary calming effect Bernanke has had on Wall Street Investors, the fact remains WE need real solutions now.  Housing Prices and Credit continues to become an obstacle for many, the really good deals are typically in areas that are undesirable. States like California are offering a $10,000.00 Tax Credit for purchasing unoccupied homes, the same benefit is applicable to “New Builds” as well.  A bit of a no brainer really as most homebuyers would prefer a New Construction versus an existing home.

The Real Estate Community has a real opportunity to increase existing home demand by simply thinking outside of the box.  Coldwell Banker launched an $8000.00 Rebate Program aimed at increasing escrow.  Recently I came across an advertisement [Yep it was a bus stop bench] promoting One Agent’s committment to increasing housing demand and sales by donating up to 40% of his commission to local housing non profits and home owner education programs.

In as much as I would like to say move ahead America we’ve managed to dodge another bullet, the fact remains I would be lying.  I would ask that We all take some time and consider how [WE] can make a change subtle or otherwise to help our communities.  We will recover and we will get past this, however the more important question is will we learn anything from this?  Remember the definition of Insanity?

Citibanks CEO Calls Program “Deed in Lieu on Steroids!”

Citibank’s CEO says: “Deed in Lieu on steroids” in a press release today in a new proactive outreach program designed to reach out to troubled borrowers/clients of CITIBANK, its CEO calls this new program this in hopes of distinguishing CITI from other Banks in dealing with the looming toxic assets remaining on their books.  No doubt CITI & Bank of America are leading the pack in creating viable solutions for its borrowers directly affected by the Housing Bubble and experiencing negative equity issues in their homes.

CITI’s program is aimed towards borrowers that simply cannot afford to stay in their homes and yet have no real exit strategy.  It offers a $1000.00 one time payment directly to Homeowners to assist in moving expenses and relocation.  Citi cites it will give “relocation counseling” and even pay more monies to help their [Former] Customers with monthly expenses. CITIBANKS Loss Mitigation Division will grant individuals a period of 6 months whereby homeowners may remain in their homes to seek out and secure a new home, For this courtesy CITIBANK will require a voluntary Deed in Lieu of to help CITI with the expense of a formal foreclosure and reduce costs of this legal action.  On average, Lenders can spend upwards to $25k in Legal Costs, more if the homeowner responds to the legal notices and requests hearings. One thing is clear that the objective of this program is to make this often cold and troublesome ordeal a little bit more palatable with some financial assistance for these often overlooked Americans in dire need of a more smooth transition and a more realistic exit strategy than simply waiting on the unlawful detainer to be served by a Sheriff.

Bank of America announced last March a program that includes BofA’s voluntarily scanning of its portfolio and defaulted inventories and offering a number of solutions for its troubled clients ranging from principal reduction and forgiveness to refinances with low-interest rates and long-term amortizations to effectively decrease payments in an effort some call damage control amidst looming law suits and accusations from frustrated mortgagees feeling like BofA simply did not care about the homeowner and/or in cooperating in a Loan Modification and charge that Bank of America was only interested liquidating the toxic assets and foreclosing on them to increase capitalizations by originating new loans to replace the bad ones.  Two WA State BofA Customers had already filed suit in Seattle that calls FOUL on the part of BofA for taking TARP Money and not granting it’s mortgagee’s with any help or even consideration for their respective Loan Modification requests.

The move on the part of CITIBANK and Bank of America is a good step in the right direction, and is ABSOLUTELY what ALL Banks should be doing regardless of whether they accepted T.A.R.P. monies or not.  It’s about ethics and good Customer Service, a no brainer for most really particularly the successful top producers in the Real Estate Industry to which we believe are made of Teflon as they always seem to come out ahead regardless of Market Conditions and Housing Demand ebbs and flows.

I don’t think I would be going out on a limb by stating on record that more and more banks are sure to follow suit, especially as Congress and House Representatives debate the Banking Reform Act, legislation high on the White House Administration’s Agenda.

These positive steps and strategies on the part of US Banks is a good thing and quite frankly is long overdue as they have all enjoyed a long ride of minimal regulation and minimal oversight in that Industry.  I look forward to reporting on announcements from other Banks and Financial Institutions efforts to reach out to their troubled borrowers and can only hope there will be a “keeping up with the Jones’s” style competition among rivals that would affect us all and that we would each benefit from.

Fannie Mae Announces Policy Changes in Waiting Period Requirements for Preforeclosure Sellers & Properties SOLD as “Short Sales”

Fannie Mae Announces Policy Changes in “Waiting Periods” for Preforeclosure Sellers & Properties Sold as “Short Sales”

Fannie Mae announces today sweeping Policy Changes in a Lender Announcement Memo Titled: SEL-2010-05

Underwriting Borrowers with a Prior Preforeclosure Sale or Deed-in-Lieu of Foreclosure

For those of You specializing in Short Sales and advising Clients with Toxic Assets, this announcement can add some serious octane to your marketing efforts as well as distinguish you as a fiduciary that really knows their stuff.  Previously Your home sellers were required to wait a period no less than 4 (Four) Years before being approved for a Fannie Mae Insured Loan under the DU Program.  Lenders can now update their guidelines and originate Mortgage Loans from the growing number of Individuals and Families left with no option other than “Patience”.  Now Sellers can look forward to being eligible (in addition to the regular and standard UW qualifications and requisites) as soon as 1 (One) Year Post disposal of previous property.

As a former Mortgage Banking Professional, I subscribed directly to ALL MBS Insurers Lender Policy Updates [And I continue to receive E-Updates] and capitalized on the announcements and quickly posted the changes in My Blog and Electronic News Bulletins to not only inform My Borrowing Clients but also the valuable Referral Sources and “Partners” [The Real Estate Agents that referred me Loans].

No longer will the stigma associated with having to make the difficult decision to dispose of ones Real Property be associated with a “Prison Term” in regards to being able qualify for another Mortgage Loan.

Cheers to the US Treasury and Government Insurers for removing the obstacles as well as the stigma and making the possibility of Homeownership a reality yet again for these tattered and overwhelmed homeowners.

Remember: “Inform, Engage & Cement” Your relationships with the most prized element of any service provider… Our Clients!

“Go Ahead…[HELP] Yourself!”

A Tribute to: Friendships…

Along the years I have been so blessed so incredibly touched and moved by My “Friendships” with many people. Some came by sheer accident [literally as My car was rear-ended by a Woman that soon became My Dearest Friend]. Some of My Friends came from necessity, infactuation, desperation, exasperation, and many more that were introduced to me by one of My “Best” Friends: “Jose Cuervo” [note to Jose: Call Me!]

Regardless of how these friendships were forged, each and every one [past and present] have made a profound influence on My Life. Bringing me joy, tears [of bliss & sadness as well as uncontrollable laughter]. I want to take a moment and say THANK YOU to each of you. People come and go in our crazy and often tumultuous lives of ours, to this I simply say “People are often [sent] to us by Our Lord to serve a specific purpose, once that purpose has been served… they move onwards. It is incumbant upon [Us] to let them go and not compel anyone to stay on longer than what is needed; for they have another purpose to serve elsewhere” As sad as this may sound, it is a testimony as well, Thank the Lord for the “gift” of that friendship, park them in your heart and recant the memories, share the stories with your loved ones and know that those dear friends are always with you, regardless of where they are or where you are.

[Note to "Leenie-Bear"]  I have searched high and low, hired a Private Investigator [fail!] and even leased a billboard on Tropicana Boulevard (right off Decatur Blvd) and still no Leenie.  PLEASE don’t make me place a pic of your mug on a milk carton… I Miss You Terribly and would LOVE to see you!  Check your email for my digits.  Love ya!  R.

There is a FUNGUS Among Us!

Recently (as featured in an article in the Washington Post) as well as in a Seattle Based Newsprint Agency, a “Fungus” commonly known as [Cryptococcus] has descended in its migratory (mapped and routed path) from the lower mainland in the province of British Columbia Canada and made its way into the Pacific Northwest Region (specifically NW Washington State & Northern Parts of Oregon).

This nasty and incredibly evasive fungus has wreaked havoc among those with compromised immune systems ranging (demographically) from the elderly, infants and small children to those with active viral infections as a direct result from exposure to various strains of viral infections. The viral strain directly associated with Cryptococcus affects the colon and make its home in the colon’s lining making the host extremely uncomfortable and strife d with a litany of other opportunistic infections and effects from [those] parasitic invaders:

Diarrhea | Vomiting | Dehydration

Many other serious medical conditions are just some of the possible ailments found in those that are unfortunate enough to “host” this incredibly devastating and destructive guest from the North whose appearance is neither welcomed nor invited.

Children are particularly susceptible to this “monster” as they too have under developed immune systems and despite the numerous inoculations provided at child-birth, younger children are absolutely at risk and PRIME targets for the fungus and its dubious intent to do harm to its host (it is a love hate relationship for sure!). Parents should use caution and limit exposure to soil play and or tree climbing (this practice will save them oodles in Home Owner Insurance Premiums and coverage in of itself)

For more information on Cryptococcus please visit: www.webmd.com or read more on it from Medical WIKI to learn more and get valuable insights (medically speaking) on prevention and proper hygiene as well as prudent [common sense] environmental sanitation practices.

The nomad virus has made the Pacific NW Region its home because of the climate and moisture levels found not only in the rich soil in NW Washington but the abundance of Trees and their rich and nutritious leaves making their bounties available to ALL its inhabitants.

Despite this Country’s massive efforts to effectively screen our guests and visitors via a battery of tests and questions (not to mention the amount of modern-day technology deployed to decrease the possibility of illegal entry into the United States, Our technology does NOT screen for these type of “alien” intruders.

This post is written as a Public Service Announcement in hopes that Real Estate Industry Professionals [EVERYWHERE!] will share this vital and extremely valuable information, resource links, insights and post them to their respective web-logs, email newsletters, mail based correspondence (s), podcast, video logs, as well as in person to their Clients and Prospects alike.

The Author of this post has waived ALL copyright (s) and licensing to this posts content and grants irrevocable license to ALL persons interested in plagiarizing, paraphrasing, copying, editing, pontificating and communicating what “He” perceives as good & poignant information to share freely without preservation, reservation nor expectation of any kind.

[disclaimer The Author is NOT a licensed Medical Doctor or Physician and has obtained the content within this web-log via the bountiful resources available on the world-wide web.]

“To first increase one’s awareness and understanding of any subject, one must first ask questions [many of them] then share their new-found knowledge and insight to the masses” rtf

God Bless!

Cash for Recycling Kicks Off! Happy EARTH Day!

What a wonderful day to officially kick off a wonderful program benefiting homeowners all over the U.S. and with “double-dip” benefits in most states offering similar appliance replacement / recycling programs!

The Cash for Recycling Program made available by the Obama Administration gives US cash incentives to replace all those energy inefficient appliances in the home (window air conditioners, washers, dryers, etc) with NEW Energy Star Appliances. Homeowners can receive up to $300 from the FEDS and additional amounts from participating States [California among others have either pledged a program or are already offering incentives]. Our modest and humble task today is to inform ALL of YOU of this fabulous program in hopes that you will “pass it along”. As always… “Go Ahead…[HELP!] Yourselves!”

The [New] Science of “Farming”

“Farming” as is commonly referred to in the Real Estate Industry is a practice that has often yielded positive results for decades.  The days of calling Your EO or TO and give the necessary parameters and geographic delineation has been replaced with online portals and search mechanisms for instant results! [because instant gratification takes far too long].

Most Title and Escrow Companies now offer an interactive website or “portal” to login, access Your profile and order FARM Lists to effectively market and increase one’s pipeline.  The “old school” style of farming may have included canvassing homeowners in person with an offer to provide a complimentary CMA or via postcard [not too cost effective these days] or even cross referencing with Homeowner Email Lists to upload in a CRM and automate the FARM process via Email Marketing through E-Newsletters or Market Update Reports.

My personal preference always was [and still remains] “Farming with Value”.  This is a ridiculously simple process that takes a three prong approach to Spherical Marketing:

1. Inform
2. Engage
3. Cement

The key is to NOT limit your reach to just existing clientele’ or “Active” Prospects.  Instead, cast the proverbial net out further to Prospects that may not convert for months or even years.  Why?  Why not? … Your competition is absolutely targeting this group and let’s face it with market turbulence and uncertainty, there’s no telling what lies ahead in the Real Estate Industry.  A common practice at My former Employer was a  “Mantra” which was quite simply this: “Treat EVERYONE as if they were a Client“.  Such wisdom from a such a painfully obvious concept; yet so often overlooked.  Companies like “Zappos”  get it , even Big Banks are beginning to “Tether” themselves to non banking Americans by offering incredible depository deals like opening a savings account with just $5.00 and once Your account balance reaches $50.00, the Bank will send you a $50.00 Gift Card!  Whoa!  Now that’s marketing genius.  The point here is NEVER be afraid to be different, actuate your risk and GO FOR IT.  “You snooze… You lose!”

Okay, circling back to My original point… The [New] Science of Farming.  Tapping the three prong approach mentioned earlier, an RE Professional could increase the span of their sphere of influence and garner some referrals to boot.  There are many resources and service providers offering various CRM Tools to automate Your Marketing Efforts.  I would be remiss if I did not mention and highly recommend Altos Research.  As a former employee, I can say with some degree of authority that the Market Intelligence Reports gathered in real-time and then transposed in a straightforward “Agent Centric” format is the clear choice.  Check them out for yourselves:  www.AltosResearch.com The interface allows subscribers to upload their contacts in an easy cvs template (provided by AR) as well as customize “subscriptions” for Your Clients and Prospects.  The reports will prove to be invaluable when called upon to present and complete a live CMA for a listing prospect.

For RE Agents riding the “Short Sale” wave, there is no better method for acquiring leads, prospects and clients than tapping a Farm List.  Easy peezy mac and cheezy!  Login into your favorite Escrow / Title Service [or] reach out to your trusted Account Executive and specify your parameters and geographic preferences… Voila!  Create a marketing strategy and “hook” concept to reach out to these folks (using sensitivity and respect of-course) and watch that pipeline GROW! (NOTE: The Home Affordable Modification Program also provides a “Short Sale” streamline because ALL parties involved can tap the power of the US Treasury to “lubricate” the process as well as streamline.  Various forms, necessary disclosures and hardship letter templates can be found at: http://makinghomeaffordable.gov/hafa.html (as with ANY online portal.. Always verify the validity and authenticity of the website BEFORE entering your PRIVATE Data)

So let’s recap… Farming whether practiced “Old School” or “Neaveau Chic Geek” is still an efficient and effective way to increase the breadth and scope of Your Sphere of Influence.  Informing, Engaging and Cementing Relationships new and old is a cost-effective method to improve YOUR brand identity and securing NEW and unsolicited referrals.  Tapping Government Resources does NOT make You a cheater!  In fact the antithesis is true, YOU ARE GENIUS for doing so.  Finally, keeping your sphere up to date on market conditions, or other various Real Estate News Nuggets demonstrates that you not only care, but take the time and energy necessary to carefully research and publish poignant information that is of value to its readers.

Until next time… “Go Ahead…[HELP] Yourselves!”