Pretty Girls in High Places

Growing up, I knew girls like Nicole John. They weren't just pretty, they were flames that drew all the guys. They were also a human tornado of mental and emotional issues. Using their feminine charms and looks, they left path of destruction littered with broken hearts, psychotic ex-boyfriends, bottles of vodka and lots and lots of drugs.

Somehow these girls turn themselves around by collecting an M-R-S degree at the end of their 4 years and marry a doctor or lawyer. There was one girl I knew who got engaged in college, yet treated her college experience like Vegas. What happened at college, stayed at college. Besides having a wild streak, her husband to be was living halfway around the world. Her fiance knew she was screwing around his back, but they still got married and had kids.

Nicole John will never ever be able to turn around.

Even before her demise, Herald Towers did not have the greatest reputation in the world. And it appears it is doing its part to keep it that way.


Ilan Nassimi is the unlucky man in the middle of this hell storm. Go to his Linkedin profile and you will see a list of accomplishments. His academic credentials include attending SUNY Stonybrook and Zicklin School of Business at Baruch. I do find it interesting that there is no mention of when or whether he graduated from these institutions.

He currently works as a Commercial Broker at Metropolitan Property Group and is the President and Owner of Llann Enterprises. What is Llan Enterprises exactly" It appears to be an amalgam of ventures which are the following

Third Degree Jean Company

theLimed.com

Venture Capital & Private Equity industry

My take on Nassimi is that, assuming that he did graduate from these esteemed institutions, that he showed up ready to rock the job market. Problem was there were no jobs to rock. Whatever was out there was far and few and were going to the top tier graduates. Don't get me wrong. SUNY Stonybrook is a great school with an outstanding medical program. As far as business schools go, Zicklin is the best deal in New York City. Unfortunately, Manhattan is a brand centric society and with the economy the way it is, Wall Street's standards are higher and tighter.

So Mr. Nassimi decides to put his business skills to use. Gets a real estate license and gets entrepreneurial. And he parties. Parties very hard.

In its simplest form, a real estate broker makes money by taking a piece of the action from a transaction between a buyer and seller. It is the same wherever you go. How a broker acquire these deals is through their networks which can come from church, volunteering or friends. Judging from Mr. Nassimi's extracurricular activities, he was probably searching for deals through the Manhattan night life scene.

Baller Brokers like Mr. Nassimi are not uncommon. They are Type A personalities, who went Greek all through college. They often hit the hottest clubs and restaurants with a fistfuls of business cards and cash. They get an exclusive spot in the VIP section and make friends by dropping rolls of paper for bottle service. As the old adage goes, "You have to spend money to make money." When a baller broker blows an equivalent of one semester of tuition at NYU for one night, it shows that he has it going on. And when people see that he is a high roller, he attracts other high rollers. Bernie Madoff used a similar strategy by using his country club as a way to get new customers. In fact he was a master since everyone came to him in droves.

It is not a foolproof plan, however by using an exclusive social gathering as a way to qualify customers, they can land some pretty sweet deals. It is tantamount to the strategy I described regarding landing rich Chinese customers.

So what was Mr.Nassimi's motivation in inviting Nicole to an after hours party? Was it for a one night stand? Perhaps, but I believe it was purely for social and business purposes. Pretty girls like Nicole bring the boys in droves, particular boys with big bank rolls. There is no doubt she was probably one of many pretty girls invited back his apartment for the after hours party. And it does not hurt a man's reputation to be in the presence of beautiful women. How do you think Raffaello Follieri was so successful?

Just to being able to party on his level indicated that she had her own juice and with her family connections and money, it appeared she had a lot of it. Just a sip from her cup would have made Mr.Nassimi's position in the business world very strong.

As you may notice, I am not ragging on Mr. Nassimi. Professionally speaking, I applaud him for his efforts. He was doing what every young and hungry business man would do. If this accident never happened, there is no doubt that Mr. Nassimi would have made a name for himself.

Of course the future of these two is all speculation at this point.

A combination of unfortunate circumstances and an environment that was not conducive to good judgment has resulted in this horrible accident resulting in a tragic loss for a family. I am not unsympathetic to Mr. Nassimi.He will be hurting for awhile, but he should consider himself fortunate. He's still alive.

Open Homes

Tips for a Successful Real Estate Open House


By Paige Tepping



RISMEDIA, August 31, 2010--The Sunday real estate open house is a longstanding ritual in the real estate marketplace, and many homes have been sold on a lazy Sunday afternoon. When used properly, open houses can be a great marketing strategy.



According to the experts at Buy-and-Sell-House-Fast.com, the following steps will help you get the most out of your real estate open house and increase your chances of selling your home for the price you want.



-Be sure to meet with your agent in advance of the open house. Discuss all the various details about what is involved in holding a successful open house. While many home sellers are comfortable with an open house, others are not. If you choose not to host an open house, there are other ways to sell your home.

-Be certain to go through the entire home with the real estate agent the day before the open house. Take careful notes and follow all of his/her recommendations.

-Try not to become emotionally involved when evaluating the condition of your home prior to the open house. Remember that your real estate agent is trying to make your home more appealing to potential buyers, not criticizing your decorating style or choice of accessories.

-Any needed home repairs should be completed before the open house begins. This includes things like peeling paint, loose stairs, banisters in need of repair and the like. It is crucial that guests see a home that is in immaculate condition.

-Never underestimate the importance of making a good first impression. Many visitors make a decision about the home in the first few seconds. Be sure the entranceway to the home is immaculate, and that the steps leading up to the home are well swept and free of debris.

-Ask the real estate agent to create a professional-looking sign in sheet for all visitors. It is important to get the name and phone number of all attendees to the open house.

-Always discuss the price of the home prior to the open house. This will allow the agent to negotiate the price on the spot if a good prospect attends.

-Be sure to consider unusual ways to market your open house. For instance, if you belong to any special groups or organizations, be sure to market the upcoming open house to the members. For instance, the local garden club may be very interested in attending an open house that includes a beautiful outdoor garden.

-It is a good idea to provide cookies, brownies or other snacks for guests at the open house. A punch bowl is also an attractive addition.

-Pets should be kept away from open house visitors. It may be a good idea to have a friend or family member takes care of your pets until the open house is over.

-Be sure to lock up all medications, both prescription and non-prescription. Also be sure to lock up any cash or valuables in the home prior to the open house.

-Make sure that the home is spotless and free of unpleasant odors prior to the open house. You may want to bake a fresh batch of cookies an hour or two before the open house begins. Not only will the aroma mask any unpleasant smells, but it will create a warm and inviting ambiance as well.

-Be sure the temperature in the home is pleasant. A home that is too hot or too cold can make visitors uncomfortable, and lead them to wonder about the quality of the heating and air conditioning system.

-Play soft music in the background during the open house. Background music helps set a good mood for visitors.

-Always open the curtains and the drapes prior to the open house. This will allow fresh air and sunshine in and help give the impression of a larger space.

-If your home does not have plants, you may want to buy a few before the open house. Plants can provide a warm feel and help make guests at the open house feel more at home.

Taxes on a second Home

For Your Clients: Can I Deduct Taxes on Second House?


By Claudia Buck



RISMEDIA, August 31, 2010--(MCT)--Do I pay taxes for household workers? Can I take a deduction for a second home used by family? The IRS' Jesse Weller and the California Franchise Tax Board's Brenda Voet tackle those questions from readers.



QUESTION: I bought a house a mile from my primary residence with the specific intent of renting it in the future to my daughter. If my daughter lives in the house this year and pays the utilities in her name (but pays no rent), does the house still qualify as a second residence?



ANSWER: Yes, you are considered to have personally used the second property all year because your daughter used it as her primary residence. Accordingly, you may deduct the entire amount of the property tax and mortgage interest as itemized deductions.



Q: If I hire people to work in my yard or do housekeeping, is there a limit to the amount I can pay them without having to fill out 1099s like an employer does? And if there is a limit, does it only apply for one person, or can I hire another for the same limit for a different type of work?



A: When a taxpayer hires people to work in and around his/her personal household — such as housekeepers, baby sitters, gardeners and yard workers — those workers may be considered employees.



Although you usually do not need to complete a Form 1099 for paid work that is performed in and around your home, you may need to issue a Form W-2, Wage and Tax Statement. You also may be responsible for withholding and paying employment taxes on wages paid to workers who qualify as your employees.



Usually a household worker is considered an employee if the payer can control both what work is done and how it is done. If the worker controls how the work is done, the worker is normally considered self-employed and not an employee.



For example, (individuals) who work in your home like carpenters, builders and plumbers are normally self-employed, independent contractors and are not employees. Self-employed workers usually provide their own tools and offer their services to the general public.



To answer your question about the payment threshold: If you pay an individual household employee cash wages (including wages paid by check or money order) of more than $1,700 in 2010, you generally must withhold Social Security and Medicare taxes from all cash wages.



You have the option to pay your employee's share of taxes from your own funds rather than withhold it from their salary. You are not required to withhold federal income tax from wages you pay to a household employee, unless your employee asks you to withhold income tax and you agree. In some situations, you also may be responsible to pay federal unemployment taxes on a portion of the cash wages.



If you must withhold and pay Social Security and Medicare taxes, or if you withhold federal income tax, you will need to file a Form W-2 for each employee after the end of the year. In that situation you will also need to file a Schedule H, Household Employment Taxes, after the end of the year with your Form 1040 individual income tax return.

Oh Hell No!

As everyone knows, I have issues with Philadelphia. Here is something to add to the list.

Philly requiring bloggers to pay $300 for a business license

Moonlighting

If you google Commercial Mortgages, you get a lot of stories, a lot of them bad.

I have heard chatter that it is so very difficult to get a commercial mortgage that I know of one broker who is moonlighting in another industry.

Further signs point to an L shaped recovery.

Yes, it sucks but at least we know what we are dealing with right now. More importantly it indicates where everything stands.

The one thing that stands is Cash is King. If you have enough paper, you have more leverage than most people and have more flexibility. People in that position who are real estate centric are right now looking and taking notes. Recoveries do not happen over night, so they have the luxury of waiting to see what is available at their price point.

The upcoming winter will be quite a show.

To Be The Shepard

When someone commits a social transgression against you. It hurts. It is especially painful when you made the effort to follow societal norms while that person has decided to ignore them. That pain releases in your head a cacophonous set of emotions which include rage and frustration. You feel like kicking ass and taking names. And of course if you are a normal person, which most of us are, you hold back and try to let it go. Until the next time it happens again.

Perhaps it is a sign of old age, but I find this cycle tiring and unnecessary. I desire now to get beyond that. And some recent news has come to my attention that reinforces that position.


It recently came to my attention that a former noisy and obnoxious neighbor recently sold his home and the evidence indicates that he had to engage in a short sale. He either could not hold onto it or the rapid deprecating value of his home was driving him nuts. Or it was a little bit from column A and column B.

A while back, I wrote about the awful tragedy of Annie Le and compared her murderer to an entitled miscreant that used to bully me in high school. It recently came to my attention he has the proud distinction of owning a home in an area where the housing market's prospects of recovery are between zero and negative 10. Due to this and many other factors effecting his finances, it is highly unlikely that we will ever cross paths again which is fine by me.

As much as I want to be the harbinger of justice, I realize that in certain situations it is not my place. Something else is in play that will deal with these cretins. It is also a strong reminder to myself that what has befallen these individuals can take me down too. Especially if I stray from my path.

Which is why any personal satisfaction has dissipated and replaced with a strong sense of humility and compassion.

Besides, life is very short. So why should I waste it on people who really don't matter to me? Why should give into tyranny when I can try for something so much better?

One should always stand up for themselves. But be aware when it is time to walk away and let nature take it's course. And have the fortitude to let go.

I mentioned the following quote in a previous entry. And I think it is more than appropriate to conclude this entry with it.

In the long run, every man will pay the penalty for this own misdeeds. The man who remembers this will be angry with no one, indignant with no one, revile no one, blame no one, offend no one, and hate no one.

-- Epictetus

New Home Sales in New Bern

New home sales in the New Bern area have been steady as compared to 2009. Through 8-20-2010 there have been 202 new home sales. There are currently 305 new homes listed in the MLS although some of these are proposed construction. Of these only 13 percent are over $200,000. All this equates to a 10-11 month inventory of new homes. The defination of a buyers market is over 6 months of homes for sale.

For the same time frame in 2009 there were 204 new home sales. At first glance it looks like sales this year are about the same as last. However, some builders are giving deep discounts to buyers. This is not healthy for anyone in the long run as it will hurt everyone's appraisals.

For those of you who are drunk

If this does not sober you up.





I have no idea what will.

Heat

It is going to get hot.


Scarsdale has been in the news recently and not for the best of reasons. The link below will give you the rundown.

Honky Trek: Scarsdale?

The biggest development for Scarsdale is the Affordable Housing Plan. Recently there have been new developments for this plan.

Housing Implementation Plan Update


Housing Settlement

According to the August 13, 2010 Scarsdale Inquirer, Bill Ryan, who represents Scarsdale on the Board of Legislators "was disappointed" that the legislators were put out of the loop. In his opinion, the County Executive Office has locked them out and is dealing with the federal government directly.

It is understandable why the County Executive Office is maintaining a tight rein on this issue and making sure there are no nut huggers dragging them down. This is an extremely volatile issue that needs to be handled with kid gloves. The last they want is any more attention upon themselves, especially from the Federal Government.

There is one bit of information that has been brought to my attention which is at best a rumor but can't be ignored.

There is talk there is certain factions creating a work around for affordable housing in Westchester that satisfies the requirements and respects the sensibilities of the communities involved. The workaround is to build affordable housing in Somers.

IF YOU'RE THINKING OF LIVING IN: SOMERS

Somers is not a Scarsdale. Which makes Somers more flexible and in certain minds more appropriate for affordable housing.

A major barrier to entry for this to occur is that there is no direct Metro North Service to Somers. If you want to commute to Somers from Manhattan, you need to either go to Katonah or Goldens Bridge.

Apparently Somers resistance towards an MTA line is due to this rumored plan to consolidate affordable housing in that town.

Whether it is true or not, none of this is going to end well. And those seven years are going to go very fast.

Yes. There will be a new season.

Among the many truths that have been confirmed to me this past year is that time is finite and bad things happen to good people.

Fortunately all is well with me and my family.

However it has made me think very closely about what the next stage of this blog will be.As I have stated before new developments have presented themselves to me which puts this blog on the lower priority list.

I really enjoy working on this blog and I do have plans on elevating it. It is just that there are other issues that I need to deal with at this time.

More to life than money?

In Difficult Financial Times, Sense of Purpose is Key to Happiness


By Robert Powell



RISMEDIA, August 3, 2010--(MCT)--When it comes to feeling as though you're enjoying the good life, money matters. Make no mistake about it. But it's just one critical ingredient, according to a new study.



Being healthy, creating deep relationships with family and friends, having a sense of purpose, and feeling like you belong are major components of a happy life. What's more, those ingredients are just as true for those in their 20s as those in their 70s — and in the midst of a recession, too, according to MetLife's Mature Market Institute 2010 Meaning Really Matters study, which is based on the work of Richard J. Leider, author of "The Power of Purpose."



Being healthy and wealthy have always been two well-known ingredients of happiness, but the study also shed light on what it takes to live the good life and what type of people are living one.



If you're happy, age might have something to do with it. In 2010, almost half of those aged 45 to 74 said they were living the good life compared to just 29 percent of 25- to 44-year-olds.



But how do you know whether you're living the good life? In the study, MetLife said those living the good life uttered such comments as "Being spiritually, emotionally, mentally, and physically healthy," "Having enough money not to worry about whether or not I can pay the bills; good friends to share life with" and "Having a safe, healthy, and happy life with family and friends."



MetLife said 74 percent of those living the good life were completely content, as opposed to only 24 percent who weren't living the good life. What's more, those living the good life generally look forward to each day, consider themselves very happy, are in control of their lives, and are highly optimistic about their future.



The chief component is having a sense of purpose, according to the study. That sense of purpose is "interrelated with vision — having clarity about the path to the good life and focus — knowing and concentrating on the most important things that will get you to the good life." Over eight in 10 (82 percent) of those who feel their lives have purpose are living the good life compared to 35 percent for those who are not living the good life.



The good news, at least for those who equate wisdom with age, is this: The older you are, the more likely you have vision and focus. Younger Americans, not so much — proving once again perhaps that youth is wasted on the young. Likewise, MetLife reports that older Americans (those age 45-74) are more likely to focus more on meaning-laden activities like spending more time on helping others and making their community a comfortable place to be than younger people, while younger cohorts plan to spend more time on such crass activities as generating, managing, and accumulating money.



But even though the young (and even some older folks) lack meaning in their lives now doesn't mean it will last forever. "If people are dissatisfied with their lives — if they feel it lacks meaning — they can do something about it," the study said.



"Discovering purpose is an ongoing quest rather than a one-time trip to an exotic land," the study said.



What's more, MetLife says one's purpose "is likely to change a number of times as one grows older and their experiences and goals expand and shift."



So what's the trick to leading the good instead of the bad life? Well, according to MetLife, you can greatly improve your chances by looking at your long- and short-term plans, including "a situational assessment of where you are today."



Specifically, MetLife recommends the following:



First, envision your long- and near-term future. Think about your life two or three years out and ask yourself the following questions. Then think about your life 20 years from now and ask yourself the very same questions.



Picture yourself in two or three years and then in 20 years. How old are you? What goals do you have for yourself?



What are you doing? How much are you working? If you are working, what are you doing? Are you spending the amount of time you would like with friends and family? What kind of daily routine do you have? What do you like to do with your free time?



Where are you living? Has your residence changed? Are you living in another state or location from where you are today? What kind of community are you living in? What do you like about where you live?



How are your loved ones? How close do your loved ones live to you? What are your loved ones doing? How often do you see your loved ones? What important changes in their lives have they experienced?



Second, get a sense of your wealth. What's the point of having the good life without money? Exactly. MetLife says the other thing you need to do is ask yourself the following questions about money.



Do you know what your assets are worth?



Do you know your net income?



Do you know your total spending?



Is there any money left over to help reach your goals?



Said MetLife: "Assess the information you have put together and consider whether your current financial and legal situation is on track to support your near-term and long-term goals."



Last but not least, MetLife recommends not just creating and acting on the plan, but protecting it as well. Why is that so important? As everyone knows, stuff — bad and good — happens in life.



"Living the good life also means weathering significant changes and transitions caused by positive or negative 'trigger events' such as job loss, marriage, illness, the birth of a child or grandchild, divorce, moving, retirement, and the death of a loved one," the study said.



Knowing in advance that you'll have to weather such storms will go a long way toward improving your odds of living the good life. L'chaim.



(c) 2010, MarketWatch.com Inc.

Distributed by McClatchy-Tribune Information Services.

Energry Savings

6 Tips to Keeping Your Home Cooler


By Stephanie Andre



RISMEDIA, August 3, 2010--Wow, it's hot outside! The summer's in full swing with no signs of cooling. And while you may be tempted to crank up the A/C, remember - you won't be nearly as excited to see that electric bill next month.



To save some money -- and, don't forget, energy! -- here are six tips that might just help.



1.Avoid heat build-up in your home – The best way to keep your home cool is to keep the heat out. This can be done by closing the drapes on windows facing the sun (east-facing windows in the morning and west-facing windows in the afternoon). You should also try to avoid heat-generating activities, such as cooking, on hot days or during the hottest part of the day. If you are cooking, use your range fan to vent the hot air out of your house. By reducing the amount of heat in your home, you will have to use less energy to cool it.

2.Use ventilation and circulation to cool your home – Instead of automatically turning on the air conditioner on hot days, try cooling your home with window and ceiling fans. Circulating air can make your home feel cool and comfortable in a much more efficient way than air conditioning. There is also the option of a whole house fan (a large ventilating fan installed in you attic that expels hot air out of your home) which can circulate air throughout your entire home.

3.Keep air conditioning efficient and to a minimum – When you do have to use air conditioning, there are ways to make it more efficient. First of all, turn up the temperature setting on your air conditioner by a couple of degrees. Most people keep the temperature setting lower than it needs to be, hence using more energy than is needed to keep your home cool. It is recommended that you keep the temperature at about 25° C (77° F). Also, remember to turn off your air conditioner once your home has reached a comfortable temperature. By coupling minimum air conditioning with reducing the amount of heat entering your home, you can keep it cool without using excess energy. It isn’t recommended that you leave your air conditioner on when you leave your house, but if you’re going to do so, turn the temperature setting up a few more degrees while you’re gone to about 28° C (82° F). Also, remember to turn off your air conditioner if you’re going to be away from your home for more than a day. It is also important to make sure your cooling vents aren’t blocked so that the energy being used is going towards actually cooling your home and not being wasted. Furthermore, keep rooms that don't need cooling, such as closets, closed off when you're air conditioning.

4.Make sure your home isn’t losing cool air – By weather-stripping and caulking around windows, doors and electrical outlets on outer walls, you can prevent losing cool air from your home and prevent hot air from getting in. Improve your home’s insulation on outer walls, again to keep cool air in, and hot air out. You should also consider installing storm doors for the same reasons if your home doesn’t already have them. If you have a fireplace, keep the flue closed. These provide an extra barrier against the escape of cool air. All of these options will make cooling your home more efficient and will save you money on your energy bill.

5.Select energy-efficient cooling systems – If you’re in the market for a new cooling system, there are many new technologies that are much more efficient than older versions. As with other appliances, you should look for the Energy Star logo and compare the amount of electricity each uses.

6.Use the coolest parts of your home – On hot days, parts of your house will naturally stay cooler than others. For example, if you have a basement it will remain cool even during the hottest part of the day (this is because the cool air in your home will sink down to your basement). One way you can reduce the amount of energy used to cool your home is to do more in cooler areas of your home. This way, you won't have to use energy to stay cool.

Where'd You Go?

It's been awhile since I last posted. What's my excuse? I've been busy.

Pretty lame huh?

Seriously. There have been a series of development in my life which I have had to address and which unfortunately has dropped this blog down the list of priorities.

I did promise some news and hear it is. I was recently contacted by a source who has been quite reliable in the past and has pointed me in the right direction with my posts. For last couple of years this source relocated to Shanghai for work. This source was now in China, Shanghai specifically and is now strongly considering pulling up stakes. I inquired why they would do that since China is where it's at?

The source responded with the following statement: China is tapped out.


Now, there have been reports that China is trying to reign itself in.

China Stocks Rise as Slower Economy Spurs Easier Policy Outlook


And there is still a huge demand for jobs in that country.
With Asian Industry Astir, More Job-Seekers Go East


Now this source has never been wrong in the past and I find this source quite knowledgeable.

If China's economy does implode, what will the flight to quality be like? One word.
Exodus.

I'll be back shortly folks. Thank you for your patience.