These are quotes from today's 20th Anniversary of the fall of the Berlin Wall:

"The remembrance of Nov. 9, 1989, not to mention the remembrance of the horrific proceedings of the (Kristallnacht) pogrom on Nov. 9, 1938, unmistakably teaches us: Walls — whether real or in the heads and hearts of people — walls do not solve any problems." — Archbishop Robert Zollitsch, head of Germany's Bishop's Conference.

"The wall was an edifice of fear. On Nov. 9, 20 years ago, it became a place of joy. For 28 years, East Germans could not even approach it. On Nov. 9, 1989, people danced on it — and the world looked different afterward" — German President Horst Koehler.

"The whole world is proud of you. You tore down the wall and you changed the world; you tore down the wall that for a third of a century had imprisoned half a city, half a country, half a continent and half the world; and because of your courage two Berlins are one, two Germanies are one, and now two Europes are one." — British Prime Minister Gordon Brown, addressing the people of Berlin.

photo courtesy of wavemagazine.net

"I had rather starve and rot and keep the privilege of speaking the truth as I see it, then of holding all the offices that capital has to give from the presidency down."  Brook Adams, The Degredation of Democratic Dogma, 1919

"Every violation of truth is not only a sort of suicide in the liar, but is a stab at the health of human society."  - Ralph Waldo Emerson

"Truth like-like a blanket that always leaves your feet cold.....Y-Y-You push it, stretch it, it'll never be enough. You kick at it, beat it, it'll never cover any of us. From the moment we enter crying t-to the moment we leave dying, it'll just cover your face as you wail and cry and scream." - fictional character Todd Anderson from Dead Poet's Society

"Hold on, man.  We don't go anywhere with "scary," "haunted," or "forbidden" in the title." - Shaggy from Scobby-Doo.

"One need not be a chamber to be haunted;
One need not be a house;
The brain has corridors surpassing
Material place."
~Emily Dickinson

 "...and dread to look over his shoulder, lest he should behold some uncouth being tramping close behind him! and how often was he thrown into complete dismay by some rushing blast, howling among the trees, in the idea that it was the Galloping Hessian on one of his nightly scourings! --Washington Irving - From "The Legend of Sleep Hollow"

"It is a very lonely life that a man leads, who becomes aware of truths before their time." - Thomas Brackett Reed

"An idea that is not dangerous is unworthy of being called an idea at all." - Elbert Hubbard

"In imagination, not in perception, lies the substance of experience, while knowledge and reason are but its chastened and ultimate form."  - George Santayana

“People think it must be fun to be a super genius, but they don't realize how hard it is to put up with all the idiots in the world.” - Calvin (from Calvin and Hobbes)

“Who was the first guy that looked at a cow and said," I think that I'll drink whatever comes out of those things when I squeeze them?” - Calvin (from Calvin and Hobbes)

“Life is like topography, Hobbes. There are summits of happiness and success, flat stretches of boring routine, and valleys of frustration and failure.” - Calvin (from Calvin and Hobbes)

Note:  Calvin & Hobbes are fictional characters from the comic series created by Bill Watterson.

"Too bad that all the people who know how to run the country are busy driving taxicabs and cutting hair." - George Burns

"The taxpayers are sending congressmen on expensive trips abroad. It might be worth it except they keep coming back!" - Will Rogers

"If all the economists in the world were laid end to end, they wouldn’t reach any conclusion."  - George Bernard Shaw

“It’s absolutely stupid that we live without an ozone layer. We have men, we’ve got rockets, we’ve got saran wrap – FIX IT!!!” - Lewis Black

"I guess the real reason that my wife and I had children is the same reason that Napoleon had for invading Russia: it seemed like a good idea at the time."  - Bill Cosby

"Scientists say because of global warming they expect the world's oceans to rise four and a half feet. The scientists say this can mean only one thing - Gary Coleman is going to drown."  - Conan Obrian

Most people who are not involved in real estate day in and day out often get confused with the industry terminology that Realtors routinely use.  It can be a confusing barrage of lingo that frustrates buyers and sellers.  One of these terms is Earnest Money.

What is Earnest Money?  - Earnest money in real estate is "good faith money," or as I like to call it serious money.  This is the money that a buyer usually puts up to show the seller that he/she is serious about buying a house.  This is often necessary in the mind of the seller because buying a house usually takes about 30 days (depending on the situation) from the time the buyer and seller ratify a contract until the time of the closing.  The earnest money from the buyer is put is an escrow account and held by one of the involved real estate brokerages until the closing.  If all goes according to plan and the buyer buys the house from the seller, then the earnest money is credited to the buyer at closing.  But, in the event that the buyer backs out of the contract, without proper cause within the contract, the earnest money goes to the seller and the seller must then put the house/property back on the market in hopes of finding another buyer.

How Much Earnest Money? - It is important to note that in South Carolina there is no law requiring earnest money nor is there a law determining how much money should be put in escrow for any given price range.  But, most sellers will not consider an offer without the earnest money being part of the offer.  Why?  Because the seller is taking a risk.  You see once the seller accepts an offer on their home, the home is taken off of the "active" listings on the market. The seller usually secures a new place to live and begins the process of moving his/her household goods into another home or storage. The earnest money ensures that if the buyer backs out (apart from what is allowed in the contract) the seller is compensated for the risk of any potential buyers that were lost as well as their time and trouble involved.

So how much is required?  I know many places around the country have an unwritten rule of 3%-5%.  The only time you will see that around Charleston is with some new construction builders and with some bank owned properties.  In the Charleston SC market, anything under 125K usually calls for an earnest money deposit between $500-$1000 (unless otherwise specified from the seller).  Anything from 125K-250K usually calls for an earnest money deposit of $1000-$1500.  Anything from 250K-500K usually calls for earnest money between the amounts of $1500 and $2500.  Anything above that is usually specified by the seller.  Just like anything else in real estate, earnest money is usually negotiable.

The key thing to remember about earnest money is that is should be used to strenghthen  the offer of the buyer.  A solid offer, a preapproval letter, and a reasonable sum of earnest money can go a long way in convincing the seller to accept the offer of a buyer.

"It is neither wealth nor splendor, but tranquility and occupation, which give happiness."  - Thomas Jefferson (1788)

"Debt is the slavery of the free."  Publilius Syrus (1st century BC)

"What the vast majority of American children need is to stop being pampered, stop being indulged, stop being chauffeured, stop being catered to.  In the final analysis it is not what you do for your children but what you have taught them to do for themselves that will make them successful human beings." - Ann Landers