Tchaka's Blog

Capitalism vs Socialism Revisited (a bit of humor) - oh, and kidnapping!

Tchaka Owen (Elite Coastal Properties) — Sun, 24 May 2009 14:14:27 -0500

By now most have read the alleged story of a Texas Tech economics professor who did an experiment with his class and ended up failing them all because no one wanted to work for a high grade and thus proving Socialism doesn't work. Leaving aside the criticisms of that (urban) legendary bit, here's a 'rebuttal' that I came across.

Note: I find both pieces to be flawed, but I couldn't help laughing as I read this so I am sharing.

An economics professor at Berkely said he had rarely failed a single student, but had once had a class in which most people passed but few learned anything.

The class (students) insisted that capitalism worked since everyone would be motivated to work hard be rich, and a rising level of wealth would benefit everyone . The professor then said, "OK, we will have an experiment in this class on capitalism."

"All grades will be competed for and everyone will work against each other to earn the highest grade."

After the first essays were graded the marks were awarded and were distributed across the class in the manner of a bell curve. Some students who had studied hard were upset that they got lower grades because wealthier students who had studied very little but had bought their essays got the available As.

As the second essay rolled around, most of the students who had studied hard studied less in order to take on part-time jobs and buy quality essays. Some of the very brightest studied even harder to try and beat the quality of the purchased essays. The ones who had bought their essays in the first place didn’t study at all and got their parents to pay for even better essays to ensure they stayed ahead of the game. Three students who did study hard dropped out of the class altogether in order to write essays on commission for the wealthy students. The cost of essays rose and the number of students who could afford quality essays was low. Only a few people got an A and most got C’s

The richer students who didn’t care about their education were happy. The smart students were unhappy and exhausted from study and/or part-time work. Whether they studied or not they got consistently lower marks. The average students had dropped out to service the wealthier students’ demand for extremely high quality essays – which they could produce by working in teams.

By the time the marks were in for the third essay it was clear that the wealthier students had all the high marks while the best and brightest of the smart students could barely manage C’s The cut throat competition resulted in hard feelings massive distrust particularly between the students that produced their own work and those that relied on the work of others that they purchased.

In the end the smart students did poorly. The rich students did well and those who dropped out made money . The professor told them that capitalism would ultimately fail because competition means that people work against each other using whatever means necessary. This leads to some perceived benefits but ultimately bankrupts everybody.

Ten Cars That Sank Detroit

Tchaka Owen (Elite Coastal Properties) — Fri, 03 Apr 2009 23:15:42 -0500

I ran across the following article on Yahoo! titled 10 Cars That Sank Detroit that I want to share. When the 3 auto manufacturers came to DC (both times) asking for a bailout, there was a lot of talk about unions bleeding the companies, high pension costs, etc. Now those are important considerations, but in my opionion not the #1 problem. I've said it several times here and I'll repeat it again: the #1 reason Detroit has problems is because for the most part, their products stink. American cars do not compare to imports and that's the bottom line.

Sure we make good SUVs and we make good pickups too, but that's not the bulk of autos on the road. And those few that we do a decent job at are often not fuel efficient. Back to the cars......what cars do we have that are good? The Corvette......what else? Pretty much nothing

If I had my way, I'd keep the Corvette, Jeep Wrangler and Cherokee and perhaps a few select cars. The rest I'd ditch in the Mariana Trench and start clean. Study the Germans and Japanese and learn from them. Japan automobile imports went from crummy to hot in about 20 years. I think the US can match their counterparts in 5 years. I have never owned and American car and never will if they don't commit to a better product. Detroit needs to get their heads out of their nether regions and recognize the real reason they're sinking.

Racists For Obama

Tchaka Owen (Elite Coastal Properties) — Tue, 04 Nov 2008 00:13:03 -0600

Earlier today I ran across an article that I'm going to share titled 'Racists For Obama'. I will not provide an in-depth commentary because this could potentially be a heavy subject. The reason I'm sharing is because it has an interesting juxtoposition of race and our country's current economic conditions. In a twisted way, this article shows that racism in the US isn't quite as we thought. (I kinda felt like Stanley Kubrick's somehow involved in this piece)

To be honest, if I were to write about this I'm not sure where to start. But it does provide a fascinating read (it's only 2 pages long). Note the picture of the Obama sign and the Confederate Flag.

Radius - Downtown Hollywood's Best Luxury Condos

Tchaka Owen (Elite Coastal Properties) — Sun, 02 Nov 2008 02:42:25 -0600

Radius

The latest residential addition to the downtown Hollywood area is Radius. Rising 15 stories it is the premier luxury high-rise condo building in the area. The downtown area of Hollywood has been somewhat blighted and is undergoing revitalization so the opening of Radius is yet another positive step in the transformation of the downtown area.

Radius offers One Bedroom/One Bath units up to Three Bedroom/Two Bath ones, with prices currently ranging from $215k to $560k. They currently rent from $1600 to $2600 per month. Each unit comes with Italian cabinetry, stainless-steel appliances and granite countertops throughout. Flooring includes selections of tile or carpet.

Amenities in the building include a clubhouse, 24-hour concierge, internet access, a rooftop pool, fitness center, covered controlled access parking, optional valet parking and more.

Best of all is the location of Radius – its proximity to Downtown Hollywood, to the beach, to the airport and more is unparalleled. Walk across the street to the ArtsPark to enjoy a concert or relax under a tree and read a book. You’re one block away from a number of restaurants and other local establishments. Travel is made easy with 10 minute jaunt to Ft. Lauderdale/Hollywood Airport. Radius is a mixed-use building so the 1st floor is occupied by a number of well-known establishments including FedEx/Kinkos, Starbucks, Smoothie King, Elite Coastal Properties and RBC.

For more information about Radius or any other place in Hollywood, contact Tchaka Owen at 954.552.6112.

Open Letter to the Red States

Tchaka Owen (Elite Coastal Properties) — Fri, 31 Oct 2008 19:23:43 -0500

Note: This is not a politically correct post.

My cousin in AZ forwarded this email to me earlier and I got a good laugh out of it. I don't know if it's all factual so let me state that as a caveat upfront. It's good for a laugh though.

Dear Red States:

If you manage to steal this election too, we've decided we're leaving.

We intend to form our own country, and we're taking the other Blue States with us. In case you aren't aware, that includes California, Hawaii, Oregon,Washington, Minnesota, Wisconsin, Michigan, Illinois and all the Northeast.

We believe this split will be beneficial to the nation, and especially to the people of the new country of New California.

To sum up briefly: You get Texas, Oklahoma and all the slave states. We get stem cell research and the best beaches. We get the Statue of Liberty. You get Dollywood.

We get Intel and Microsoft. You get WorldCom.

We get Harvard. You get Ole' Miss.

We get 85% of America's venture capital and entrepreneurs. You get Alabama.

We get two-thirds of the tax revenue, you get to make the red states pay their fair share.

Since our aggregate divorce rate is 22% lower than the Christian Coalition's, we get a bunch of happy families. You get a bunch of single moms.

Please be aware that Nuevo California will be pro-choice and anti-war, and we're going to want all our citizens back from Iraq at once. If you need people to fight, ask your evangelicals. They have kids they're apparently willing to send to their deaths for no purpose, and they don't care if you don't show pictures of their children's caskets coming home. We do wish you success in Iraq, and hope that the WMDs turn up, but we're not willing to spend our resources in Bush's Quagmire.

With the Blue States in hand, we will have firm control of 80% of the country's fresh water, more than 90% of the pineapple and Lettuce, 92% of the nation's fresh fruit, 95% of America's quality wines, 90% of all cheese, 90% of the high tech industry, 95% of the corn and soybeans (thanks Iowa!), most of the U.S. low-sulfur coal, all of our remaining living redwoods, sequoias and condors,all the Ivy League and Seven Sister schools plus Stanford, Cal Tech and MIT.

With the Red States, on the other hand, you will have to cope with 88% of all obese Americans (and their projected health care costs), 92% of all U.S. mosquitoes, nearly 100% of the tornadoes, 90% of the hurricanes, 99% of all Southern Baptists, virtually 100% of all televangelists, Rush Limbaugh, Bob Jones University, Clemson and the University of Georgia.

We get Hollywood and Yosemite, thank you.

Additionally, 38% of those in the Red states believe Jonah was actually swallowed by a whale, 62% believe life is sacred unless we're discussing the war, the death penalty or gun laws, 44% say that evolution is only a theory, 53% that Saddam was involved in 9/11 and 61% of you crazy bastards believe you are people with higher morals then we so called lefties.

Finally, we're taking the good pot, too. You can have that dirt weed they grow in Mexico.

Peace! --Blue States

I was sold on the wines!

O'Bama!

Tchaka Owen (Elite Coastal Properties) — Tue, 28 Oct 2008 22:47:17 -0500

My girlfriend flew back down yesterday with a gift to me from her father. I couldn't help but don it today...and it did elicit some smiles. And for those who might be wondering, I do qualify to wear it. Oh, no car bomb jokes, please. :-)

Let's Heap It On Minorities (again)

Tchaka Owen (Elite Coastal Properties) — Wed, 08 Oct 2008 18:19:02 -0500

For over a year now we've discussed the subprime meltdown and it's possible causes. Was it the fault of lenders and their irresponsible (and lenient) guidelines? Was it dishonest loan officers who lied on applications in order to qualify clients? Perhaps it's appraisers who overinflated values of homes. Or were their arms twisted by real estate agents who threatened not to send them future business if they didn't make the values fit? Personally I think it's a combination of all the above and probably other factors as well.

Fast-forward to the financial crisis we are experiencing now and somehow all the blame rests on Fannie/Freddie and lending to minorities. Wow!

I'd like to contribute the following piece from Daniel Gross of Slate titled 'Subprime Suspects'

Reston, VA is for Smart People!

Tchaka Owen (Elite Coastal Properties) — Sun, 08 Jun 2008 22:39:52 -0500

US News & World Report released a piece that places Reston, VA in the Top Ten Brainiest places in the United States. The report did not rank the top 10, it merely listed them alphabetically. The piece based its assessment on "retirement destinations that attract highly educated folks". Half of the cities are in areas known for very good schools such as Berkeley, CA, Chapel Hill, NC, Ann Arbor, MI and Brookline, MA.

I've enjoyed my years of living in Reston and I do return frequently, this is just another tidbit to highlight the community in a positive manner.

ActiveRain Servers With A Mind of Their Own?

Tchaka Owen (Elite Coastal Properties) — Thu, 05 Jun 2008 23:23:49 -0500

I can't help but wonder if there are email glitches going on with AR. Just a few days ago there was a phantom email from Jonathan Washburn, founder of ActiveRain which some received and others didn't. My guess is that it was a glitch or something.

Well, I just noticed something else that is odd. A week ago I wrote a summary comment on my blog about race and elections and closed it to comments. That was early on May 27th. A day or two later I updated it for clarity and did not go back to it until Simon wrote me privately asking why I closed it to comments. That's when I noticed that my last comment on the blog is logged at 7:30pm on June 3rd. I assure you I did not even look at that blog past May 29th or so. Definitely not in June. How did my summary comment update to June 3rd? Could it be a virus on AR servers? This isn't anything to be overly concerned about, it's just something I noticed.

Forgiveness

Tchaka Owen (Elite Coastal Properties) — Tue, 27 May 2008 00:55:27 -0500

One of the wonderful traits of Americans (and to some extent humanity as a whole) is our ability to forgive those who transgress. How many entertainers have screwed up and apologized? We forgive them. How many politicians? We forgive them. Evangelicals mess up and are forgiven. We as a people understand that we aren't without flaw. If one errs, apologizes and asks for a do-over, we often allow it. That's truly a great thing.

It came as a big surprise to me the other day when I read a comment by AR member Jason Sardi in which he acknowledged he got booted off AR earlier. I have read a number of his blogs on mortgages and scenarios and the guy is on top of his game, I really like the way he thinks. Apparently he pulled a stunt that didn't go as he planned and he was booted. So what did Jason do? He apologized to those involved and wrote a humbling letter to AR, who in turn did what we like to do: they forgave him. His membership was reinstated. In the aftermath of Bill Burress being terminated from AR, another member Hugh Krone wrote a blog that was not the kindest. The next day he contacted AR directly to apologize for his tone and wrote a public one as well. Without a doubt both of these gentlemen exhibited class through their actions after the initial transgressions.

This brings me forward to the purpose of this post. Upon the termination of Bill Burress a number of friends and fans have rallied to have him reinstated on AR. That is a sign of loyalty and it's good to have friends willing to stick up for you. But people are looking for forgiveness without acknowledgment of error. Forgiveness follows apology and there hasn't even been anyone willing to stand up and say he was wrong. I commented in A DARK DAY ON ACTIVE RAIN that: What I would like to see is a friend/fan/supporter of Bill actually stand up and say that his comment was inappropriate or distasteful - because it was.

People do or say things that we shouldn't have, we all do. What happens afterwards shows one's character. A person with strong character will call it out for what it is. But no one stood up. Instead we've endured 4 days of how great he is, how unfair AR is, how innocuous the comment was, etc, etc. The only thing we haven't received is an apology. It doesn't matter whether or not he thinks it's offensive, the fact is it IS - and many people have said it is. "I've heard worse on AR and those people didn't get terminated"......if it's offensive, it's offensive, case closed. That's like being stopped for doing 85 in a 40 and your defense is, "But I saw someone else going 90". One friend of his commented that he was not warned and that if he had been, he would have removed the comment. That's missing the point - if it was just about removing the comment, I would have done so myself. No, it's about acknowledgement that such a comment is hateful (or at least distasteful). Others have said he's just direct; 'direct' is not defined as 'offensive' so that doesn't quite fly either.

I wanted to see one person say that the comments were offensive and my intent was to contact AR directly to argue for his reinstatement. At the time I did not know he'd had numerous warnings, I thought it was based simply on his comment on my blog. While highly inappropriate, I did not deem it enough to terminate his account so I was willing to go to bat for him. Yes, the Bill Burress a few claim is not hateful and who founded Silent Majority which alludes to standing for freedom of speech (though he routinely calls gays 'sodomites' and changed settings on SM to prevent me and a few others from posting in the group). But my incentive to ask a favor on his behalf is lessened when his thoughtless actions are deemed acceptable and any chance supporters had with AR is pretty much gone now. Instead of appropriate conflict resolution a course of indignance was charted. We are a very forgiving people, but alas, the road to forgiveness is rarely traversed without apology.

Last chance to ban Simon Conway!!

Tchaka Owen (Elite Coastal Properties) — Wed, 21 May 2008 16:09:34 -0500

Calling on all Simon Conway detractors to get on the phones and call your congressman. Call INS, call DHS. Send emails and load up the fax machines. It's your last chance to keep this Londoner at bay. After tomorrow's swearing in, we'll have to accept him as one of our own. We might not like him, but we'll have to keep him.

If all else fails, congrats Simon! >:-)

23% Commission?

Tchaka Owen (Elite Coastal Properties) — Wed, 07 May 2008 21:56:01 -0500

I received an email today from a development in Orlando (one of the standard emails we receive marketing various projects) but this one read "23% Commission" in the subject and nothing else. Of course I was intrigued Upon opening it I see that it indeed offers "23% for a limited time". There's no mention of how long this promotion lasts, no info whatsoever on the details of the commission, illegible writing at the bottom (it appears to be the disclosure statement), but there's a picture of a really pretty woman in the middle of the flier. Maybe that's the hook. A lot of money and a beautiful gal.

I don't know, but if someone's offering such a large commission it's probably because the units aren't moving. If they aren't moving, wouldn't it make sense to drop the price by 10 or 15% instead of increasing the agent commission by such a large number? Don't get me wrong, I'm all about making money but isn't the marketing department's priorities skewed? Agents making more money doesn't make the units any more attractive to the buyers.

Price the units properly and compensate agents well, that's a recipe to success.

Would you vote a white candidate for President?

Tchaka Owen (Elite Coastal Properties) — Mon, 05 May 2008 23:34:21 -0500

For a number of months now the primaries have largely been devoid of race issues. Sure there's talk of Barack Obama being the 1st President of color, there's was the hiccup of Reverend Wright, but race has not been an overriding factor. I wondered how long it would take for race and/or racism to begin to rear its ugly head. It seems that the recent Democratic Primary in Pennsylvania was its debut, but surprisingly, race seems to have simmered down again. I'm not convinced that it will remain so subdued, inevitably it will reappear before the general election.

It goes without saying that a candidate should be judged by character, not color and that's how many of us would like the populace to vote. However it will not go down solely in that manner. There will be some racial bias....let's call it 'acceptable racial preference' (ARP for short) in which a person might feel a tad more comfortable with one like himself (or herself). Not that this is condoned, rather it is human nature. Look at any election and you'll see people voting for their own kind whether the linkage is race, religion, location, etc,etc. It's not due to a hatred of another as much as it is a comfort. Since this blog is about race, by literal definition, these people could be called racist. However I don't feel it is most appropriate using such a label hence we'll go with ARP.

Looking at the aftermath of the PA primary, the polls said that a number of whites said race was a factor in selecting between Barack and Hillary (this number varies depending on the poll). For the sake of consistency I will use one set of results from the New York Times. Of that 13% of whites who said race was a factor, 75% voted for Clinton. Of the 13% of blacks polled, 4% (I believe this to be 4% of the total, not of the 13%) said race was a factor while the other 9% said that it wasn't. Nevertheless, 91% of blacks voted for Obama - a charge quickly pointed out by those defending the whites who said race was a factor. I'm not here to judge either side because I understand ARP. And particularly so for blacks given that this is the first time that a viable black candidate is on the ballot. In being fair, I also understand white ARP as well. It's only natural. But this talk of race and voting pattern doesn't touch on what really matters and it's not race, it's racism.

It's not so important who one would vote for because of race, rather who that person would NOT vote for due to race. Of the 91% of blacks who are voting for Obama, how many would vote for a white candidate? I don't know the answer, but what I can tell you is that up to 100% of those who have voted in a presidential election in the past have voted for a white person. On the other side, there are many whites who voted for Clinton because because they like her (and possibly because she's white), yet they would vote for a non-white candidate they found viable. The problem (for Obama) is that portion that wouldn't. If Hillary Clinton were a black woman, those same voters would cast elsewhere. This isn't to say there isn't racism by blacks nor is it to exonerate such behavior. Rather it is to highlight that there is a bigger issue of race not being addressed. It is an ugly reality of the election process that's still being swept under the carpet.

THE GWB LIBRARY IS IN ITS PLANNING STAGE

Tchaka Owen (Elite Coastal Properties) — Tue, 15 Apr 2008 23:25:03 -0500

I am not the one who penned this, however I got a good laugh so I'm sharing.

The George W Bush Presidential Library is now in the planning stages. You'll want to be the first at your corporation to make a contribution to this great man's legacy.

The Library will include:

The Hurricane Katrina Room, which is still under construction.

The Alberto Gonzales Room, where you can't remember anything.

The Texas Air National Guard Room, where you don't have to even show up.

The Walter Reed Hospital Room, where they don't let you in.

The Guantanamo Bay Room, where they don't let you out.

The Weapons of Mass Destruction Room (which no one has been able to find).

The Iraq War Room. After you complete your first tour, they make you to go back for a second, third, fourth, and sometimes fifth tour.

The Dick Cheney Room, in the famous undisclosed location, complete with shooting gallery.

Plans also include: The K-Street Project Gift Shop - where you can buy (or just steal) an election.

The Airport Men's Room, where you can meet some of your favorite Republican Senators.

Last, but not least, there will be an entire floor devoted to a 7/8 scale model of the President's ego.

To highlight the President's accomplishments, the museum will have an electron microscope to help you locate them. When asked, President Bush said that he didn't care so much about the individual exhibits as long as his museum was better than his father's.

My Goodness, A Positive Real Estate Article!

Tchaka Owen (Elite Coastal Properties) — Tue, 04 Mar 2008 12:56:50 -0600

Rainers, I have incredible news for everyone!! How many times have we talked about and tried to combat the continuous negative press about most real estate markets? Imagine my surprise when I ran into the following article just printed on CNN/Money:

http://money.cnn.com/2008/03/04/real_estate/markets_less_overvalued/index.htm?postversion=2008030412

Les Christie's article states that this is the best time to buy in 4 years. And the horn-blower isn't NAR but National City and Global Insight. I mention this because the common critique of NAR is that they're inherently biased towards positive real estate news.

Obviously real estate is local so each market will be different. But I'm thrilled to read an article that doesn't continue to pound the industry.

Oh Boy, here come the cuts in Education!

Tchaka Owen (Elite Coastal Properties) — Wed, 27 Feb 2008 07:31:24 -0600

Today's Miami Herald has an article stating that State lawmakers are meeting soon and will likely cut $350M from funding for schools. To me, education is one of the most important things so this doesn't sit well with me. School funding comes from sales tax and the economy has not been so hot.

But this begs the question: how do they budget? Are there projections solely on a robust economy? Do they have back-up plans or reserves?

Additionally, here's a piece from the article that concerns me, "For the budget year that begins July 1, the governor has proposed a budget that adds $1 billion to schools by relying on higher property tax revenues and new state lottery games."

How exactly does Gov. Crist expect to obtain higher property tax revenues? I am generally positive and expect the housing market to get better, but this quickly? Or does he think Amendment 1 will jump start everything? Florida's school system is not that good and this will only deliver another blow to it.

How Much Mail Campaigning Is Needed For Local Elections?

Tchaka Owen (Elite Coastal Properties) — Sun, 27 Jan 2008 20:57:51 -0600

On Tuesday, residents of Hollywood, Florida's 1st District will vote for a new commissioner. Here's a link to the Miami Herald's summary of the candidates:

http://www.miamiherald.com/1231/story/384097.html

Yesterday I grabbed the mail and sat down to sort it. In the stack was an 8x11 bi-fold pamplet from Cathy Anderson asking that I re-elect her as commissioner and reasons why. She lists her accomplishments and what she stands for. Good stuff.

Next I find an 8x11 postcard from Cathy Anderson telling me that Sara Case is full of baloney. Nice picture of her opponent on a slice of baloney and on the back lists Ms. Case's flaws.

I then find another 8x11 postcard, again from Cathy Anderson, with a jack-o-lantern on it. She alleges that Sara Case uses scare tactics to get my vote by lying about her (Ms. Anderson's) record. So that's 3 pieces of mail about the election.

Digging through my mail I find a 4th piece of mail from Cathy Anderson (also an 8x11) asking that I don't vote for Patty Asseff either.

Now I don't have a problem with receiving such literature, but I can't help but wonder if something went wrong with the mailing. Why would I get 4 separate pieces all on the same day from the same candidate? Two would have been more than plenty. Not only that, my girlfriend and I live together and she received the same 4 pieces. Eight pieces of electoral mail in one day from one candidate. Is that not a bit much?

(Note: I'm not for or against Cathy Anderson, I'm merely pointing out what I received in the mail yesterday)

When Agents Don't Return Calls

Tchaka Owen (Elite Coastal Properties) — Sun, 27 Jan 2008 20:25:33 -0600

How often do you call and agent for a showing and not receive a response? It happened to me on twice this week on two different transactions by the same agent(s)! I had an appointment on Tuesday to take a client out to see rentals so I made all my calls Monday afternoon. I noticed an agent (I won't mention names but this husband/wife team is based in West Palm Beach) listed 3 potential units - I believe all 3 were vacant. I called for showing instructions and never heard back. A second call was made the next day and again, nothing. My client put an offer in on a different place and we have a verbal agreement on the contract to lease which we should ratify tomorrow.

Fast-forward to yesterday, I'm making calls for a different client looking to buy a home and one of the ones she requested to see is a bank-owned home not too far from me. I checked the listing and it's the same agent from before. I called..........voicemail box is full. It's happened to me before so perhaps she's very busy. I call the other number (to her husband) and get VM. Here I am over 24 hours later and not a peep. I took these clients out today and saw several homes, excluding the one listed by this couple. Are they really that busy that they're turning away potential business? I wish I had that problem.

Agents, do yourself a favor and return all agent calls. Otherwise you are very likely losing sales.

Are national lenders losing that lovin' feeling?

Tchaka Owen (Elite Coastal Properties) — Thu, 10 Jan 2008 23:01:51 -0600

Did anyone else read the blurb in the FAR Early Bird news yesterday about agents feeling more comfortable with brokerages owned by their lenders as opposed to some of the larger well-known banks? I will repost part of it here:

"A survey done last month of more than 2,400 real estate agents by Campbell Communications shows that 40 percent of those polled have altered their lender recommendations in response to the troubled mortgage market. Most associates now recommend the lender owned by their brokerages, with Weichert Financial, Coldwell Banker Mortgage and ERA Mortgage ranking higher than such national lenders as Bank of America, Countrywide Home Loans and Washington Mutual. During the past few months, respondents noted that over 33 percent of home purchases were not finalized, with mortgage-related problems responsible in 13 percent of failed deals. Low credit scores and inadequate incomes or downpayments were the biggest problems, according to agents, some of whom complain that lenders take too much time seeking approvals on mortgages for which the borrower does not qualify."

Source: Originator Times (01/07/08)

I realize that Countrywide has been in the news recently and I have never cared much for their customer service (on the lending side), but I've generally had good experiences with BofA (wholesale) when I used them. WAMU had a bad reputation around 2003 when they expanded too rapidly, however I haven't heard anything negative recently. Does anyone have any ideas why agents would prefer the Weichert Financials and ERA's?

The article does not adequately answer the reasoning behind this. 13% of loans failing due to "mortgage-related" problems, further defined as low scores, inadequate incomes or downpayments does not tell us why agents are veering away from the big banks. The issues listed are not bank specific.......well, they are in terms of program availability......my point is that if the qualification process is adhered to properly, then these shouldn't happen. Thus there would have to be other reasons why the lender owned brokerages are performing better. I'm all ears!

Another search yields listings without pictures!

Tchaka Owen (Elite Coastal Properties) — Sat, 29 Dec 2007 00:53:53 -0600

Isn't it the worst when you're browsing the MLS for homes and the agent didn't bother to insert any pictures? There have been several posts in the past about the importance of including pictures with listings. I want to share my experience from early last week that will hopefully re-iterate the benefit of pictures. I received a call from a nice woman on one of our team listings. It turns out she was looking for a home to rent, not buy. I don't specialize in rentals but I was willing to help her. Sometimes renters eventually become buyers.

This potential client told me exactly what she was looking for and the particular area. She also told me she'd made an appointment to see a house (and emailed me the link) but that if I could find something similar that she would gladly look at it. I told her I'd do a search and get back to her. Given that she's in another part of town she would review the details and pictures of the results and select a few homes to schedule a visit.

So I logged into the MLS to see what I could find. My search came up with 6 homes that fit her criteria. Guess how many had pictures? One. That's right, one. One out of six. That's less than 17%. I went through each listing and the second to last is the one with pictures......and it looked familiar. That's because it's the same house from the link she sent me!!! So here's a potential client who WANTS to sign a lease but I can't even show her pics. The next day I grabbed my camera and went to two of the listings and took pics which I emailed to her. In my opinion, one house was inferior, however the other was not bad. The lady went ahead with the one she'd already visited so I didn't get the business. I'm ok with that. What I don't understand is why an agent with a decent home doesn't have pictures. How are people supposed to know how nice a home it is? And it's not as if these 5 homes just got listed. At least one had been on the market for over 2 months - there's really no excuse for that.

I don't expect any agent to have professional pictures taken for a rental or to necessarily use the full allotment of pictures, but is it too much to snap one of the front and several interior shots? 4-6 pictures is better than zero. If you're going to take a listing, please do the right thing for your client and market it with pictures. After all, that's part of our MLS subscription!

What does Christmas mean to you?

Tchaka Owen (Elite Coastal Properties) — Mon, 24 Dec 2007 23:16:40 -0600

As each year goes by I become more detached from Christmas, at least Christmas as it is in the United States. I feel as though many in our great country do not really understand what it’s all about and have fallen victim to over-commercialization.

Don’t get me wrong, I like the lights and jingles and in the past I loved receiving gifts.
The best gift I ever received was a Green Machine. That meant that I was the coolest kid on the block. And since I took mine to Africa, I was probably the coolest kid on the continent! Two years later my dad gave me an air-rifle for Xmas which while not quite as hot as a Green Machine was still a great gift. Once again, I was elated (thanks Dad!). As I got older I moved away from wanting gifts and really just appreciated my family and friends. Taking a step back (our out) and looking at Christmas here, I see too much commercialization….reports every other day about how retail sales are up or down. Last minute sales, extended store hours and so forth. But rarely do people talk about the meaning of Christmas. What is the meaning? I can’t say I know for sure but I know my favorite (though basic) explanation was given by Linus Van Pelt in the Charlie Brown Christmas Special.

http://www.dltk-holidays.com/Xmas/meaning_of_christmas.htm

I believe that resonates with me because as a youngster living in Ghana, the norm in my mother’s town (and I sure others) was to dress up and walk around greeting your neighbors and friends. And I mean all of them, not just Christians. Ghana was about 50% Christian, 30% Muslim and 20% animist. But everyone celebrated to some extent regardless of religion. It’s also normal to cook a large meal and deliver portions to your best friends. This to me is a great example of “good will toward men”. I understand that we’re in a different culture here, but I wish there was a greater emphasis on why we celebrate Christmas.

We have those who mandate “Happy Holidays” instead of “Merry Christmas” due to some so-called notion of political correctness. One of the cornerstones of our nation is tolerance which means accepting Christmas as is – there’s nothing to be PC about. I lived in Indonesia for a number of years and I know there are signs that say “Merry Christmas” and that’s the largest Muslim country in the world with Christians making up less than 9% of the population. No one there insists on “Happy Holidays”. We also have those who take the opportunity to blame liberals for the demise of the Christmas moniker, meanwhile half of them probably haven’t picked up a Bible in years.

Seven years ago tonight I went to midnight mass in Pittsburgh. At the time I dated a woman and spent Christmas with her family and they put emphasis in family, on church and in overall good will. I had not been to church in years (I’m not even Christian) but I was happy to be there because it took me back to what I remember in my youth. It was a celebration of the birth of Christ the right way.

So this Christmas I hope that all AR members will take a moment with your families and wish all your friends a Merry Christmas. Let’s also reflect on the state of the world and hope for less bloodshed. After all, according to the Bible, Christ did die for us…..why should we continue killing each other? Take a moment and say hi to your neighbors and stop to help someone in need - even if it's merely walking an elderly person across the street. Good will to people.

Merry Christmas to all of you.

Hollywood Boardwalk Events for November 07

Tchaka Owen (Elite Coastal Properties) — Fri, 09 Nov 2007 18:50:31 -0600

Here are events in Hollywood that are free to all. I have never heard of a Candy Cane parade and had no idea that they're that revered!!

Post event comment: It ended up being a decent-sized parade with many floats. The Miami-Herald covered the event and had several pictures. Who would have known candy canes are such a big part of Hollywood?!

Robert Bruss moves to Heaven

Tchaka Owen (Elite Coastal Properties) — Sat, 29 Sep 2007 12:40:56 -0500

It just came across my desk yesterday that Bob Bruss passed away. I looked for comment in AR but didn't see any so I'm jotting this short blog. Back when I first got interested in real estate and investing (around 2001) I'd read his column in the Real Estate section of the Washington Post on Saturdays. Just about every weekend I'd learn something new. Nowadays one can find everything on the Internet but 6 years ago there was considerably less content. And as a newbie, I sponged up every bit of information I could get.

Questions in 'Real Estate Mailbag' (or 'Ask Bob' as my friends and I called it) were often repeated but that only served to implant the answers into my memory. Admittedly, I no longer actively seek out his column, however I remember back when I would eagerly look for it.

May he rest in peace.

Events on Hollywood Broadwalk

Tchaka Owen (Elite Coastal Properties) — Sun, 09 Sep 2007 02:21:05 -0500

Here is the latest listing of events happening on the Broadwalk at Hollywood Beach. I will likely be at the Latin Festival and the Full Moon Jazz Festival. I'd love to do more but unfortunately my schedule prevents me from doing so. If you're near Hollywood, be sure to stop by. All of these events are free to the public!

It's all about MEME!

Tchaka Owen (Elite Coastal Properties) — Tue, 24 Jul 2007 01:27:37 -0500

I got MEME'd today by Brian Block then Scott Montgomery so I figured I'd better join the crowd.

Drumroll pleeeeeeeeeeease..........

1. I have been on every continent with the exception of Antarctica (with no intention of going there). On April 12, 2003 I stepped out of the airport in Rio de Janeiro and inhaled the warm Brasilian air and accomplished my goal of being on every continent that isn't almost entirely an icecap. I have lived outside of the US for 12 years and have been very fortunate to travel to a number of countries. I hope to continue seeing the world.

2. I am an American born in the US, yet English is my second language. I left the US and moved to Ghana at age 1 and learned Twi before English. I remember taking standardized tests where

non-US citizens who were ESL speakers had the option of TOEFL, etc.

Granted I was too proud to take a "helping hand", I believe I should have qualified. After all, English *is* my second language.

3. I am a die-hard Redskins fan and I have had season tickets for over 10 years. Even though I'm now in Florida I fly to DC and catch 4 or 5 games per season - the warm weather games of course. We haven't had much to brag about in recent years, but the optimism doesn't fade.

4. I ran track and tried to make it on the circuit in Europe (unsuccessfully). I trained post-NCAA at the University of Virginia and in June 1993 earned my first sponsorship to a meet in New Jersey (this would serve as a stepping-stone to Europe). Two days later I ran barefoot from my car in the rain and slipped into a railing and got 2 lacerations in my right foot and my season was instantly over. I then semi-retired. I have been in semi-retirement ever since. ;-)

I did hold the UVa Indoor 200m record for 2 years. It was broken by my friend who then had it broken 10 minutes later by another friend. Even though the first friend was faster than me, I can always brag that I held the record longer than he did!

5. I hope to one day have an M-collection. I'd like to own 1 of each generation M3 - I currently have an E36 and would like to add

an E30 and E46 too. I'd like both generations of M5s as well, but I'm more interested in the 3-series. My appeciation for BMW started in 1991 when I took a friend's mother's 535i 5-speed through a road nicknamed "21 curves" (and survived). Six years later I bought my first BMW, and it has been an absolute joy to drive. I'd also like a Porsche 993 targa or cabriolet - enthusiasts will understand why. One day......

The 3 people I MEME'd are:

Teressa Thompson because she's brand new to AR and I want her to make a grand entrance.

Hamid Grinage because I recently referred business to him and he's performed wonderfully. AR members should get to know him.

Grace O'Malley because she's been a latent AR member and I want her to be more active.