It sucks when we don't have answers to important questions. We don't know what to do; we hide under the covers; we become vulnerable to disease.
It's a natural reaction. We can go ahead and blame the human psyche. We can even blame those who choose not to participate ("why aren't you worried?").
Whatever the case, not having the answer to a question shouldn't give us a free pass to stop thinking, resort to herd behavior, and stop making meaningful and productive decisions.
Emotions can be irrational sometimes. I think that's perfectly OK. Just make sure to get rid of the keyboards with the red buttons.
It sucks when we don’t have answers to important questions. We don’t know what to do; we hide under the covers; we become vulnerable to disease.
It’s a natural reaction. We can go ahead and blame the human psyche. We can even blame those who choose not to participate (“why aren’t you worried?”).
Whatever the case, not having the answer to a question shouldn’t give us a free pass to stop thinking, resort to herd behavior, and stop making meaningful and productive decisions.
Emotions can be irrational sometimes and I think that’s perfectly OK. Just make sure to get rid of the keyboards with the red buttons.
"There is nothing to fear, but fear itself." – Franklin D. Roosevelt
The topic of fear is one that's come up more than once on my radar in the last several days. Seth Godin wrote about it on his blog a few days back. A day or two after Seth Godin's blog post I heard Rabbi Harold Kushner (of When Bad Things Happen to Good People fame) bring it up in an NPR (National Public Radio) interview. Last night I heard it, yet again, when I turned on the television (not mine, of course) to catch a glimpse of the BCS National Championship Game and one of the 1,954 talking heads on one of the 749 cable news networks mentioned the word. I Was Scared
I sat in a cubicle for many years. As a matter of fact, it probably looks a lot like the one you're sitting in right now. The powers that used to be used to ask me to think outside the box while sitting inside of one. I couldn't understand it. So I left.
Yeah, I left a comfy government job at the Miami-Dade County Property Appraiser's Office.
Yeah, I left a job that I used to show up to everyday at the same time, take a break everyday at the same time, have lunch everyday at the same time, take another break everyday at the same time, and leave everyday at the same time.
Yeah, I left a job that I rarely had to wake up for on Saturdays and never had to wake up for on Sundays.
Yeah, I left a job where I had all legal holidays off and where my expectations were to sit behind a desk from 8:00 am – 4:30 pm. Producing ideas, improving processes, and empowering others to make decisions was not required. Actually, ideas, processes, training, and teaching produces work, so that was highly discouraged. Are You Out of Your Mind?
I was told by many that I was crazy. I got it from colleagues. I got it from friends. I got it from frenemies. I got it from strangers. I got it from my hair stylist. I got it, I got it, I got it.
I was told that people would kill for a job like mine. I was told that a government job was recession proof. I was told that I would live to regret it. I was told, I was told, I was told.
"He who fears being conquered is sure of defeat." – Napoleon Bonaparte
Mainstream media and other powers that be (who shall remain nameless) have done an excellent job of having us play word association with the faces of Middle Eastern males and the word "fear". Most people think of fear as something created by hateful men who hate this country and everything it stands for. The fear associated with that thought, arguably exaggerated and overblown, is real nonetheless (read: Christmas Day).
However, that's not the fear that worries me these days. I don't think we'll be seeing nuclear bunkers reminiscent to the ones witnessed by those who lived through the Cold War anytime soon. At least I hope we never do.
The fear that concerns me is the one created by those who read the headlines, listen to buzz words, and then misinform and miseducate. The fear that concerns me is the one created by those who choose to listen to opinions and are confused by the facts. The fear that concerns me is the one created by unchecked emotions and preconceived notions.
Fear is not a giant living in the mountainous terrains of Afghanistan. It's something that exists in our everyday lives. It's in the office, it's at the gym, it's at the coffee shop, it's at the lunch spot, and it's in our homes.
Fear lasts longer, but love is stronger. You have nothing to fear and a whole lot to love.
Why not start loving today?
By now, you’ve swallowed the only grapes you’ll eat all year (seedless, I hope), trekked around the block with your neighbor’s Samsonite set, and gently placed the 10 mm AUTO Glock back in its holster. A new beginning has commenced.
While we ceremoniously close the curtain on the first decade of the 21st century and look forward to what lies ahead, it’s important to look back at the two decades that preceded before we do our best to emulate Walter Mercado. Let’s face it, the internet changed our lives forever. The 1990’s brought us the evolution of the world wide web. Email replaced the fax machine in many ways. It replaced paper, pen, and the telephone in ways we would have never imagined possible. The latter half of the past decade (the 00’s) witnessed how social media (Facebook, Twitter, You Tube, blogs, all things Google, etc.) further changed not only the way we communicate and interact with each other, but more importantly, how it expanded the reach and influence of the individual. We no longer depend (or have to) on ABC, NBC, CBS, Univision, and The Miami Herald for information. Traditional media no longer controls the message. The average Joe (or Jose, depending on where you live) with a Flip can.
As we head into The Thank You Economy, an economy that thanks and rewards those who share intellectual property and educate for FREE, it’s important to note that having the prettiest website and optimizing it to place first on Google for whatever search term tickles the owner’s pickle alone will not be enough. Heck, talent alone is not enough. Being the valedictorian of your high school and placing Magna Cum Laude at Florida International University means shit. The colorful cords you walked down the aisle with over your gown? Use them as jump ropes. Better yet, keep ‘em handy in case frustration at your corporate rat race sets in.
You may or may not know that the Flagler Flea Market is no more. May 31, 2009 marked the death of the local community staple. Management told vendors that they didn’t have to go home, but they did have to clear the way for construction crews. Flagler Dog Track is currently in the midst of a $45 million to $50 million renovation dubbed ”Magic City Casino’ that will add 700 slots and a 2,000-seat amphitheater to the existing dog racing and poker offerings.
Management told vendors that the closing was only temporary and that the flea market would eventually be back. However, after reading the Chief Operating Officer’s following statement in CBS4:
“It won’t be the way it was back there, it will be reopen in a different fashion, it might reopen in the back, we’re not sure yet. We’re studying all the options we have to try and bring back the vendors.”
I wouldn’t hold my breath. After all, do they really want flea market enthusiasts mixing with the casino/restaurant/nightclub/bar clientele that they hope to attract?
If you never visited the flea market or hadn’t visited since your father bought you that Tandy TRS-80 you were oh-so-proud to own, here’s what you missed and what I will miss forever.
Adrian Salgado is a realtor associate with dash – real estate company. He can be reached at 305-491-7179 or SalgadoA@gmail.com. You can friend him on Facebook, follow him on Twitter, and connect with him on LinkedIn.
It’s March. And that can only mean one or all of four things – aguaseros, St. Patrick’s Day (think Miller Lite with blue #2 and yellow #5), my birthday ($20’s, $50’s, & $100’s, cashier’s checks, and wire transfers are accepted – no personal checks), and
Recession Remix ‘09 Volume 2.0 Version
The Recession Remix ‘09 version didn’t include the last (or first – depends on your perspective – half empty/half full?) 7 blocks this year. SW 11th AVE served as the festival’s eastern boundary (as opposed to SW 4th AVE in years past). Kiwanis of Little Havana, sponsor and organizer of the 31-year-old street festival, was forced to (surprise, surprise) cut costs. Organizers cite that donations aren’t rolling through like they used to (not exactly in those words, but…).
Apparently, artists aren’t donating their talents these days either. Baby Rasta y Gringo, Fat Joe, and Mr. 305 himself – Pitbull (of “Culo” fame) – served as “headliners” in this year’s edition, a far cry from the Celia Cruzes, El Gran Combos, Oscar D’Leons, Willie Chirinos, and yes, even the talentless Gloria Estefans (with her record-setting conga line and all) of yesteryear.
But who goes to Calle Ocho for the “talent”? I mean, really, the last thing anybody’s worried about at Calle Ocho is if Yolandita Monge is gonna hit 3 octaves above Middle C. Calle Ocho is for notes of another kind
Yep. Sapporo, the sumo wrestler in a can, was back in Little Havana this year. You may remember that last year these pups were $1 (as in won dolla). Well, the good folks at Casa Juancho – home to the sumo wrestlers – marked it up 100% this year! That’s right, this year Sapporos were
Still the best deal in town, by far. Remember, these sumos are good for 22 oz. Did you notice the Don Q for $3? Oowee!
Nevertheless, last year’s rules (click here for last year’s rules) were still kind of in place this year. The New Balance 992’s? Check. Canon PowerShot SD 750? Got it. Hat down low? Yes, Sir. Arnette eyewear? You know it.
What else? Mas na’. Time to beat the pavement and make new friends.
Friends like
“Peanut butter jelly time. Peanut butter jelly. Peanut butter jelly. Peanut butter jelly with the baseball bat”.
How do you say “camel toe” in Spanish again?
You KNOW Puelto Jico was in the house. You can’t call it a party if you didn’t invite a Puerto Rican. Straight up.
Or maybe I’ll just keep it Clark Kent and kick it with
Naw, who wants to kick it with a mild-mannered reporter at an event like this when you can kick it with
No come dulce de leche por el colesterol. Dice palabras en ingles mezclada con español.
Or maybe I’ll just grub on some
Note: If the following conversation was taking place in Facebook, it would be taking place via the inbox, not on the wall (hint, hint!). Go ‘head and get you a lil’ Facebook etiquette for free…
Hachy (Cyber BFF), I thought about the paella and the dry ice and calculated the shipping costs and all that, but – remember the sumo wrestlers in a can?
I had a few.
Well, maybe a little more. You understand, I’m sure.
Not a big fan of paella? Let’s see what else is cooking:
Alright. That’s more my speed.
How ’bout some
I could’ve gone with
,
but opted for
and
Nicaraguans know their meat. The carne asada was as good as it looks. Very tasty. The gallo pinto? I’ve had much better. But remember – sumo wrestlers.
The arepa? I can’t remember the last time I’ve had a good one. Anybody know where they serve a good arepa?
Dessert?
Naw, this is a much better dessert
Sorry. I meant this
There.
Is that salsa music?
Of course. There’s a salsa school doing their thing in front of the stage. You know what I’m talking about. You got the guy screaming “Coca Cola” and everybody reacts to his call in synchronized manner. That’s dope. They practiced hard last week.
I knew it was him. He’s got some vocals. Good footwork too.
Damn, I lost my friends. Where did
,
,
,
,
,
,
,
,
,
,
,
go?
Damn. They left me.
Oh well, I wanted to buy you all a souvenir anyways. Check it out. I thought about getting you an
but then you’d think I’m cheap. So I thought about
but then you’d think I’m cheap AND a communist, so I thought “why don’t I just get them something that’ll show some good ole’ nationalistic pride?”
but I realized right before I was about to pay that not everyone wears a belt. So I moved on to the guy right next to him, cause he had
but I had to run out of there. Homeboy threatened to sue me after I questioned the authenticity of his goods while photographing them. Take a look:
That’s a Louie baby!
Having to stop to catch my breath gave me a chance to think.
Being that
I thought to myself, “Why would I buy you, my loyal readers, a generic gift at Calle Ocho when I can give you the gift that keeps on giving?”. You can have your very own straight-to-video copy of “Keep It Raunchy, Mami (and Papi)”. It’ll serve as a new and improved edition of “Calle Ocho: When In Doubt”.
You can thank me later.
Adrian Salgado is a realtor associate with dash – real estate company and can be reached at 305-491-7179 or SalgadoA@gmail.com. You can friend him on Facebook, follow him on Twitter, and/or connect with him on LinkedIn.
Making Home Affordable, the program unveiled by the Obama Administration on March 4, 2009 to help homeowners at risk of losing their homes via taxpayer-subsidized reductions in their mortgage payments, is expected to help three to four million families avoid foreclosure at a cost of $75 billion over the next several years according to The New York Times.
The plan encourages lenders to modify the mortgages of homeowners who can no longer afford their monthly housing payments because of a hardship – loosely defined as “lost income, increased expenses, payment shock from an adjustable-rate mortgage, and other indications of being at risk of default” – into a 30 or 15 year fixed interest rate loan. The program, applicable only to those with mortgages owned or guaranteed by Fannie Mae or Freddie Mac, is designed to “prevent the destructive impact of foreclosures on families and communities” according to the Treasury Department.
Who is eligible?
To apply for Making Home Affordable, you must be:
The owner-occupant of a one (1) to four (4) unit home (i.e. must be your primary residence).
Current on mortgage payments (i.e. have not been more than 30 days late on your mortgage payments in the last 12 months).
Have an unpaid balance that is equal to or less than $729,750 (for one unit properties; higher for two to four unit properties).
Have a loan that was originated before January 1, 2009.
The first mortgage cannot exceed 105% of the value of the property (ex: your property is worth $100,000 and you owe no more than $105,000).
Have a stable income to support the new mortgage payments.
How do I know if my loan is owned or has been securitized/guaranteed by Fannie Mae or Freddie Mac?
Call your mortgage servicer (the entity you sent payment to) or lender and ask them. You may also contact Fannie Mae or Freddie Mac directly at:
Fannie Mae
1-800-7FANNIE (8:00 am to 8:00 pm EST)
www.fanniemae.com/homeaffordable
Freddie Mac
1-800-FREDDIE (8:00 am to 8:00 pm EST)
www.freddiemac.com/avoidforeclosure/
How does it work?
A mortgage lender or mortgage servicing company will initially receive cash incentives to modify a borrower’s loan so that the monthly housing payments (principal, interest, property taxes, homeowners insurance, homeowners/condo association fees) decline to no more than 38% of the household’s monthly gross income. At this point, the government will match, dollar for dollar, the lender’s cost in reducing payments to the target affordability level of about 31% of your gross monthly income.
How is that achieved?
Step 1: The lender drops the interest rate to as low as 2%. If that lowers the monthly housing payment to 31% of gross monthly income, then that’s the rate. For example, if 3.5% lowers the monthly housing payment to 31%, then 3.5% is your rate. The rate will not go lower.
Step 2: If lowering the rate to 2% doesn’t lower the monthly housing payment to 31% of gross monthly income, the lender will then extend the term of the loan up to 40 years. Again, it doesn’t have to be 40 years. If a 2% rate over 34 years lowers the monthly payment down to 31% of income, then 2% over 34 years is your program.
Step 3: If a 2% rate and a 40-year term do not get the payment down to the target affordability level of 31%, the next step is to forbear principal.This does not mean that the lender, out of the goodness of his/her heart (can’t decide what sex “lenders” are), will chop off the principal owed. It means that the borrower pays interest on only part of the mortgage balance. The borrower still owes the same amount as before. For example, someone might owe $100,000, but pay 2% over 40 years on $75,000. However, all $100,000 must be paid back if the homeowner sells the home or refinances the mortgage later.
Note: The lowered interest rates don’t last for the entire term of the loan. They last only five years. If a lender agrees to reduce the interest rate below the current market rates of about 5%, the lender is allowed to raise the rate by as much as 1 percentage point per year until the rate is close to the prevailing rate during the week that the modification was approved.
If the lender reduces the interest rate to a level that is still above today’s market rate (i.e. 6% from 9%), the modified rate remains in place for the life of the loan.
Each lender will determine if its cost from reducing the monthly payments, after accounting for the government’s cost-sharing, would be less than the costs it would incur from foreclosing. If the result of that calculation shows that the lender’s cost in modifying the loan would be lower than the cost of foreclosing, the lender would be required to modify the borrower’s loan.
I have a first and second mortgage. Can I refinance both under Making Home Affordable?
Only the first mortgage is eligible for modification. As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible. The lender that has your second mortgage must agree to remain in second lien position.
What are the costs associated with modifying the loan?
Lenders will have to bear the administrative expense of reviewing the loans and making their cost estimates. If there are costs associated with the modification (i.e. back taxes, liens, etc.) your servicer will add those costs on to the amount you owe.
Is housing counseling required?
If the sum of all recurring monthly expenses (car payments, credit card debt, second mortgages, child support) is equal to or exceeds 55% of your gross monthly income, you must agree to participate in housing counseling provided by a HUD-approved housing counselor as a condition of getting the modification.
How do I apply for a loan modification?
Call your mortgage servicer and ask to be considered for a Home Affordable Modification. Eligible loans can be modified ONE TIME through December 31, 2012. Before calling, make sure that you have the following information and/or documents ready:
Recent pay stubs
Most recent income tax return
Information about any second mortgage on the home
Account balances and minimum monthly payments due on all of your credit cards
Account balances and monthly payments on all your other debts such as student loans and car loans
Hardship letter describing the circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.)
In theory, there is NO limit on the loan-to-value ratio for a modified loan. People may be eligible for help even if the value of their home is much less than the outstanding amount of the mortgage. However, persuading their lender to modify a loan that is deeply underwater is a whole ‘nother thing.
This program will help a small percentage of those in need of help. It doesn’t do a whole lot for the family whose main source of income just lost a job and whose monthly income pretty much evaporated. It won’t do much either for that person who racked up credit card debt in an effort to save his/her home. In other words, in places like Florida, specifically South Florida, where prices have fallen due to over development, mortgage fraud, and “investor” speculation, the message is pretty clear: sink or swim. A large percentage will sink.
At any rate, BEWARE of any person or organization (no matter how legit they may look) that asks you to pay a fee (especially upfront) in exchange for a counseling service or modification of a loan.
Adrian Salgado is a realtor associate with dash – real estate company and can be reached at 305-491-7179 or SalgadoA@gmail.com. You can friend him on Facebook, follow him on Twitter, and/or connect with him on LinkedIn.
First, there was the $15,000 Tax Credit for all home buyers approved by the Senate. The problem with that? It wasn’t final. Why? The Senate version of the bill was different than the version presented by the House, which means that the bill had to go to a conference committee consisting of members of both the House and the Senate in order to reconcile the differences between the two bills. What happened when they got together? They scrapped the $15,000 Tax Credit and opted for a smaller tax credit that applies to first time home buyers only.
The First Time Home Buyer Tax Credit, an $8,000 tax credit made effective when President Obama signed the American Recovery and Reinvestment Act into law on February 17, 2009, provides an incentive for first time home buyers to purchase a home this year. In turn, the credit serves as a mechanism to decrease the oversupply of homes currently for sale.
The credit is available only to first time home buyers who purchase a principal residence on or after January 1, 2009 and beforeDecember 1, 2009. Any home that is purchased for $80,000 or more qualifies for the full $8,000 tax credit. If the house costs less than $80,000, the credit will be 10% of the cost.
Ex: If an individual purchases a primary residence for $60,000 (very doable in this market), the credit would be $6,000.
How will they determine who is a first time homebuyer?
A person is considered a first time home buyer if he/she has not had any ownership interest in a home in the three (3) years previous to the day of the 2009 purchase.
What is considered a principal residence?
A principal residence is the home where an individual spends most of his/her time (generally more than 50% of the time). It is also defined as owner-occupied housing.
Is there an income restriction?
An income restriction based on the tax filing status that the purchaser claims when filing his/her income tax return is in place. Individuals filing a Form 1040 as Single (or Head of Household) are eligible for the credit if their income is no more than $75,000. Married couples who file a joint return may have income of no more than $150,000.
So, how does this tax credit work?
The tax credit is applied to the total income tax bill once the total income tax owed by the purchaser has been computed. Every dollar of a tax credit reduces income taxes by a dollar.
In other words, say that before taking any credits on a tax return a person has a total tax liability of $10,000. The $8,000 tax credit would wipe out all but $2,000 of the tax due ($10,000 – $8,000).
How about if a person’s entire income tax liability for the year is less than the $8,000 tax credit?
This is where it starts to make sense. This tax credit is what is referred to as a refundable credit, meaning that if an eligible purchaser’s total tax liability is less than the $8,000 tax credit, the IRS would send the purchaser a check for the difference between the $8,000 credit amount and the amount of tax liability.
Let’s say the purchaser has a total tax liability of $5,000. Once the $8,000 tax credit is applied it not only erases his/her tax liability, it provides the purchaser with an asset in the form of a $3,000 check from Tio Sam.
Unlike the $7,500 tax credit enacted by Congress in 2008 which served more as an interest-free loan, the 2009 $8,000 tax credit does not have to be repaid.
Furthermore,eligible home buyers who make their purchase between January 1, 2009 and December 1, 2009 can treat the purchase as if it had occurred in 2008. Thus, they have the option of claiming the $8,000 credit on their 2008 tax return due on April 15, 2009 (if they purchase between January 1, 2009 and April 15, 2009)or claiming the credit on their 2009 tax return due April 15, 2010.
Eligible purchasers who extend their 2008 income tax filing (until as late as October 15, 2009) can also treat a purchase between January 1, 2009 and the date of their extension deadline as a 2008 purchase. Thus, they too have the have the option of claiming the $8,000 credit on their 2008 tax return or claiming the credit on their 2009 tax return due April 15, 2010.
Anyone claiming the credit who decides to sell the property within 3 years of the date of purchase, will be required to pay back the full amount of any credit, including any refund received from it. The 3-year recapture rule is designed as an anti-flipping rule.
So, will this help jump-start the struggling real estate market? I don’t know. The fact that it only applies to first time home buyers and not all home buyers doesn’t offer any incentive to those who have the equity to sell and buy in today’s market (contrary to popular belief or what the media would have you believe, people like that still exist). However, this is definitely an upgrade to the 2008 $7,500 tax credit that has to be repaid.
For more information regarding the First Time Home Buyer Tax Credit click here or feel free to contact me at 305-491-7179 or SalgadoA@gmail.com.
Disclosure: Adrian Salgado is a realtor associate with dash – real estate company. He is not an accountant, CPA, tax attorney, or any other kind of tax professional. As a matter of fact, he hates accounting with a passion and believes that anyone with an accounting degree is really a masochist disguised as a numbers cruncher. Seek the advice of a masochist professional before making any decisions that may potentially cause the IRS to send Luca Brasi over to your newly purchased home.
Before I continue telling you how ridiculous (in a very good way) he is, allow me to admit the following – I am officially a Federico Uribe groupie.
There. I said it. So what.
This man never ceases to amaze. A little over two months ago I eagerly demonstrated the installation he put together for Art Baselites titled “Animal Farm”, a follow-up of sorts to his 2006 installation, “Human Nature”. Last night, I had the wonderful opportunity to witness (for the first time) what Mr. Uribe can do with the more traditional canvas.
Tradition starts and ends with the canvas, however. Uribe, known for using shoes, mops, clothes pins, pencils, wood scraps, rakes, purses, ping pong balls, corks, shovels, dusters, pliers, and just about anything he can get his hands on to create installations, stuck to shoelaces (hence, the title of the show) to create the five works on display at Praxis International Art in the Wynwood Arts District.
Interlude: The cluster of art galleries located on NW 1 PL and NW 2 AVE between NW 22 St and NW 23 ST, including, but not limited to Fredric Snitzer Gallery, Kevin Bruk Gallery, David Castillo Gallery, Praxis International Art, etc., is slowly evolving into what many had envisioned for Wynwood. Let’s hope that the forces that be continue to build off of this without watering down the flavor.
I have a feeling that 2009 is going to be a big year for Federico Uribe. His tipping point is near. Kanye West featured Uribe’s work on his blog just two days ago. It’s only a matter of time before the masses take notice.
Enjoy these photographs, but don’t live vicariously through them. Get off of your couch, throw the kids in el pisicorre, and head over to Praxis International (2219 NW 2 AVE – 305.573.2900) before it’s too late. You do want to be the envy of your friends, don’t you?
AdrianSalgado is a Realtor Associate with dash – real estate company and can be reached at 305-491-7179 or SalgadoA@gmail.com.
,
,
,
,
,
,
,
,
,
,
,
,
