Peachtree City Life

Note from Sen. Johnny Isakson: Support of Extension of 1st Time Home-Buyers Tax Program!

Greg Saunders (RE/MAX Around Atlanta) — Tue, 20 Oct 2009 16:31:40 -0500

Hello again Peachtree City & AR! You probably didn't know this but I have been a proponent for gaining the support from our elected officials related to getting an extension of the 1st Time Home-Buyers program. My efforts went so far as to send personal letters to both Senators Saxby Chamblis and Johnny Isakson asking for their positions on pending issues and continued support on others.

Folks, I would be remiss if I first didn't state that I received responses from both Senators. I thought I'd share the response I receive from Sen. Johnny Isakson which acknowledged his efforts as co-sponsor of the Bill to extend the tax credit to 2010. What you may not have known is that he also fully supports a Bill that would also create a $15,000 tax credit for all home buyers.

I've contacted both Senators on other issues that I strongly supported such as the down-payment assistance program and getting federal assistance to help the thousands of recent flood victims. Folks, can I be blunt for just a minute? Regardless of whether you voted for the person that is currently in office or not, this is the person duly elected to represent you! Can we put partisan politics aside for a minute and just talk about the facts?

The housing and financing industries are still in crisis! Bank of America just reported recent losses of $2.24 billion for the 3rd quarter of 2009 as loan losses keep sky-rocketing! Recently Senator Vincent Fort was able to get Wells Fargo/Wachovia not to foreclose on about a thousand homes that were set to be sold on the court house steps in Atlanta. In fact he and other protesters were arrested on August 31st at the Camp Creek marketplace offices of Wells Fargo for participating in a protest related to exposing predatory lending practices by Wells Fargo and Wachovia and their role in Georgia home foreclosures. By the way, Wells Fargo/Wachovia received $25 billion in tax-payer bailout assistance!

We need more than ever for our elected officials to step up and help find solution to these pressing issues that are affecting us all!

However, don't relinquish your responsibilities by merely relying on our elected officials to come up with all the answers. Take the opportunity to express your concerns to our elected officials and do what you can to make things happen. The bottom line is that in the end we all will be impacted by the decisions made my our electorate and the solutions that will be passed down as laws. You have a voice, a choice and a vote!

Dear Mr. Saunders:

Thank you for contacting me regarding the extension of the current $8,000 first-time homebuyer tax credit. I appreciate your thoughts and the opportunity to respond.

We are quickly approaching the November 30, 2009, sunset of the of the $8,000 first-time homebuyer tax credit. The current credit that was enacted as part of the American Recovery and Reinvestment Act has enable to roughly 2 million individuals to tax credit. According to the National Association of Realtor's 350,000 additional home sales have taken place because of the current credit. In response to the November 30sunset, I have signed on as a co-sponsor of S.1678 a bill to extend the first-time homebuyer tax credit until June 1, 2010.

While home sale numbers on entry level homes have begun to increase, there continues to be gridlock in the "trade-in" and "move up" market. A family who has been transferred to Georgiafrom another state is still having a hard time selling their previous home. With so many pending purchases contingent on the sale of the previous home, markets in this category continue to be locked. That is why I continue to support a $15,000 tax credit available to all homebuyers toward the purchase of a primary residence within one year after the date of enactment. We should at least continue the existing tax credit until June 30, 2010. I know there are concerns regarding the costs of an expanded tax credit but, there are ways to pay for this tax credit without increasing the national debt. Some estimates say an expanded tax credit could spur 700,000 additional home sales and generate 600,000 jobs for our economy. The U.S. economy is strongest when we have a vibrant housing market. Rest assured I will continue to support commonsense legislation that spurs growth in our economy.

Thank you again for contacting me. Please visit my webpage at http://isakson.senate.gov/ for more information on the issues important to you and to sign up for my e-newsletter.

Sincerely,
Johnny Isakson
United States Senator

H.R. 3590: Service Members Home Ownership Tax Act of 2009 Passes in House!

Greg Saunders (RE/MAX Around Atlanta) — Thu, 15 Oct 2009 09:52:29 -0500

Hey Peachtree City...The House just passed the bill introduced by Rep. Charles Rangel (D-NY) to extend the $8,000 First-Time Home Buyers credit to Members of the Armed Forces and certain other Federal employees until November 30, 2010. The Bill passed unanimously and will now go to the Senate where it is also expected to pass with ease.

The Bill also amends the Internal Revenue Code and exempts those service personnel from having to pay back the credit should they be deployed for extended duty service.

So what about the extension of the First-Time Home Buyers credit? Well so far there has been heavy duty lobbying for the extension of this credit into 2010. The National Association of Realtors (NAR) has sited that this incentive has been an important stimulus and participation is expected to result in around 1.8 million new home-owners.

There are currently about 6 Bills in the House related to extending the tax credit. Georgia's own Senator Johnny Isakson has been a outspoken proponent of extending the credit and introduced his own Bill about a month ago. Sen. Isakson's proposal would not only extend the tax credit through 2010 but would increase the amount to as much as $15,000 and allow all home-buyers to claim the tax credit just as long as the home is used as the buyer's principle residence.

First-Time Home Buyers....the perverbial clock is ticking it's way toward the November 30th deadline. Already there has been $1.5 million folks to take advantage of the credit. however, there are some rumblings from a number of pundits of this proposal that are opposed to adding on the the $15 billion that has already been allocated to this program.

So if you are considering purchasing a home and you meet the First Time Home-Buyer criteria.....don't wait and assume that the extension will happen. Take this opportunity to start the process now!!! Oh, gotta go...my phone is ringing now!

No Property Tax Increase In Peachtree City for FY 2010!!

Greg Saunders (RE/MAX Around Atlanta) — Mon, 28 Sep 2009 10:41:25 -0500

Hey Peachtree City & AR...City Council recently voted by a margin of 3 to 2 not to increase property taxes for fiscal year 2010! However, Council did agree to increase the millage rate to 5.711 mils. The increase in the millage rate would prevent the usage of cash reserves for the FY 2010 budget. Just in case you are wondering were the money is going....approximately 16.5% is headed to Peachtree City, 67.2% goes to Fayette County School Board, 15.5% goes to Fayette County and 0.7% goes to the State. Three public hearing were scheduled (as required by law) to advertise the increases.

Peachtree City's Finance Director, Paul Salvatore and City Manager Bernie McMullen recommended the increase which would have raised the average resident's taxes an additional $27.00 and brought a total of $474,000 in revenues to the City's coffers. According to City officials, without the raise in millage the City would have been forced to use almost a half million dollars out of the current $9 million in surplus monies.

There is much speculation surrounding the decision as concerns for a continuing downturn in the economy may pose a risk to current budget reserves. Some officials believe that uncertain and unstable economic conditions could lead to a more substantial tax increase down the road. Pundits have indicated that realistically not raising property taxes could result in property tax increases of $300 next year.

Peachtree City mayor Harold Logsdon has been outspoken on his objection to a tax increase based on the 35% excess in cash reserves. Logsdon feels that the City can use a portion of their cash reserves to eliviate a tax increase and still keep a 33% reserve. The City's policy is to keep 20% to 25% in reserves.

Should taxes have been increase? Well...Salvatore further stated that the survey results from residents and businesses who responded indicated a 70% and 74% support of the increase.

Okay Peachtree City, of course the looming question in your mind is.....what is the percent of responses received from the survey sent to businesses and residents? Great question! May I suggest a call to your local councilperson or to Mr. Salvatore's office to get an appropriate response.

The New American Dream.......Renting??

Greg Saunders (RE/MAX Around Atlanta) — Thu, 20 Aug 2009 10:58:40 -0500

Okay Peachtree City before things become as hostile as a town hall meeting on health care, let me explain the topic. Recently, I read this article in the Wall Street Journal entitled "(Marxism) The New American Dream: Renting." The article stated that Americans might as well get used to the fact that home ownership is no longer a realistic goal for folks and further suggested that we curtail the enormous government subsidies that are fueling this endeavor. The Marxism connotation as identified in the article's caption views Capitalism as a society in which a small minority of the population dominates and exploits the vast majority considered the working class.

At first glance it looked to be just another article by another self-proclaimed expert on their soapbox pontificating about the economy and forecasting more gloom and doom on the horizon. Later, I realized that the author, Thomas J. Sugrue a noted historian and professor at the University of Pennsylvania had profoundly chronicled the history of home ownership in modern America. What was even more intriguing was that his perspective was not only poignant but he seemed to have personalized it for me by using Atlanta as the microcosm for his analysis.

If you watched the news on or about August 12, 2009, there was several days of coverage from the Georgia World Congress Center. The images the television cameras broadcasted was tens of thousands of emotional homeowners packed into the World Congress Center like they were attending Michael Jackson's memorial service. Thousands were standing in line braving the mid-summer temperatures desperately seeking assistance in the face of losing their homes. The organization known as "The Neighborhood Assistance Corporation of America" (NACA)has been successfully touring across the South. Their goal is to paring struggling homeowners with the likes of mortgage giants such as Bank of America and CitiCorp. Evoking tears of joy and relief, some of the lucky ones were able to hold onto their ‘Dream" (at least for now) as they received loan modifications right on the spot.

So what may have brought us to this point you say? The article eluded to the real possibility that the lights could be going dim on the American Dream? You gotta be kidding me? The death of the American Dream? That had to be just a bunch or rhetoric! But other revelations was still to come. As I continued to read the article it was becoming more and more apparent that the sheer existence of the Home-Ownership Dream had everything to do with free markets, financial regulation, government intervention, and taxation.

Think about it folks....The birth of the American Dream didn't occur until Uncle Sam intervened way back during the Great Depression. In 1913 Uncle Sam added a little known provision to the federal tax code that allowed for the deduction of home mortgage interest payments. Just so you know, it was Herbert Hoover that signed the Federal Home Loan Bank Act in 1932, which laid the groundwork for federal intervention. In 1933, Frankin Roosevelt created the Home Owners' Loan Corporation to provide low interest loans for foreclosed home owners. In 1934, FDR created the Federal Housing Administration which cut rates and created the 25 and 30 year mortgages. Before that time mortgages were typically 10 year loans with 50% down payments.

Then in 1938, FDR created the Federal National Mortgage Association (Fannie Mae) and thus was the birth of the secondary mortgage market. Later in 1944, the federal government extended mortgage assistance to returning veterans, most of whom could not have otherwise afforded a house. For me, this allowed my dad an army veteran as well as 90% of other families of veterans in the neighborhood I grew up in Chicago to purchase homes.

The data in the article is pretty darn accurate. Credit was easy to get as the Feds started underwritting housing programs. By 1950, 55% of Americans had attained their piece of the American Dream. By 1970, that figure reached 63%. Yes, It was now cheaper to buy than to rent! Subsequently renting carried a new stigma. Federal intervention unleashed enormous sums of capital that turned new home construction and real estate into economic sectors. In 1959 the census bureau began collecting data on new housing starts. This became a leading indicator of American economic vitality.

So it seemed too that these same federal policies carried another storied face....racism! Of all new housing built today, the article stated that 80% was reported to be reserved for suburbia a direct reflection of federal policies favoring the outlying areas instead of rebuilding deteriorating inner cities. This trend continued until civil rights legislation was passed back in 1968. The author questions seemed to indicate that the government sanctioned programs favored segregation although it was cloaked to look like the work of the free markets - the result of countless folks choice of where to live.

By the 1960's & 70's the Dept. of Housing & Urban Development (HUD) took hold and expanded the opportunity for housing which previously excluded minorities. Later in 1976, the Community Reinvestment Act forced banks to make loans to certain areas that had been previously "red lined"by banks. Soon Fannie Mae & Freddie Mac were even pushed to underwrite loan for minorities and others who were previously considered to be an "adverse risk."

As the turn of the 21st century approached, the euphoric Dream of home-ownership suddenly went delusional! The financing industry aided and supported by the Clinton and Bush administrations found new ways and implemented new tools to make it possible for more folks to obtain a piece of the Dream. We witnessed the birth of sub-prime lending, the securitizing of mortgages, and a cast of Financiers emerged that made it possible to gamble with other folks money. Of course, this opportunity to "get rich quick"enabled and lured investors to come out of the wood-works. Cha-Ching!

So here we are folks...waiting for devine intervention or someone to lead us out of this mess as the article referenced back to the scene at the Georgia World Congress Center. Here are the stats: Housing values across the United States have fallen by one third; Over a million homes were foreclosed on nationally in 2008; Foreclosures were up 7% in July 09; and our beautiful peach state ranks #7 of all states with the highest rate of foreclosures. The collapse in confidence in securitized, high-risk mortgages has also devastated some of the nation's largest banks and lenders. Look at Georgia's banking problems! Fannie Mae alone held an estimated $230 billion in toxic assets. By the way, banks have only extended 400,000 offers to an estimated 2.7 million folks who are more than 2 payments behind! So who's really benefiting from the stimulus?

Economists like Wharton School's Joseph Gyourko, are beginning to make the case that public policies should encourage renting, or at least put it on a level playing field with home ownership. The article reports that a June 2009 survey commissioned by the National Foundation for Credit Counseling, found a deep-seated pessimism about home ownership, further suggesting that even if renting doesn't yet have that mark of distinction, it is the only choice available for folks who have been victimized by the housing market. Further, One third of respondents did not believe that they would ever be able to own a home. A whopping 42% of those who once purchased a home and lost it, now believe that they'll never own one again.

So there it is folks....everyone has their own story, struggles and opinions. Even me. Should we encourage folks to try and save their homes or is there a point to be made by this whole analysis. Further can it be deduced that government may have played a major role in the development of this crisis and now plans to portray the hero? Who can you trust? Additionally, with the currently rise in foreclosures....can we even consider renting an option without worrying about the owners possibly facing foreclosure and renters being put out in the streets. What do you think?

Welcome to “The Chuck”!! Thomas Charles Hannon Memorial Field Opens in Peachtree City!!

Greg Saunders (RE/MAX Around Atlanta) — Mon, 10 Aug 2009 13:10:00 -0500

Hey Peachtree City & AR! Just in case you didn't hear the news....The Thomas Charles Hannon Memorial Field better know as "The Chuck" had its Grand Opening Ceremony on Saturday, August 8, 2009.

Throwing out the first pitch together was Atlanta Braves pitching ace Tim Hudson and former CY Young award winner Steve Bedrosian. Wow!!! What's so exciting and makes the Chuck a stand out in the State of Georgia is that its the first all-synthetic baseball field!

Deluxe Athletics, a leader in synthetic turf, was selected by Tournament Play Field Partners, LLC to completed the first 100% synthetic turf all rubber infilled baseball field in the state of Georgia. Kudos goes out to Deluxe Athletics who managed the turf application process on all levels of planning, design and oversight of the construction for "The Chuck." "We are proud to have installed the first 100% synthetic rubber infilled turf baseball field in the state, at "The Chuck" for Home Plate Baseball Academy in Peachtree City," says, Chris Daniluk, founder and president of Deluxe Athletics.

So how big is the Chuck? This $1.5 million dollar multi-use facility covers approximately 120,000 square feet of 100% rubber infilled material, utilizing a special clay-colored turf for the disignated field area.

Peachtree City joins the City of Sugar Hill, Georgia as the latest clients of Deluxe Athletics. Sugar Hill currently has the largest continuous synthetic turf in the whole southeast as the City decided to replace the natural grass concept and install a 255,000 square foot area at the newly built Gary Pirkle Park.

Beginning in August, The Chuck will offer baseball, softball, kickball, flag football, wiffle ball, ultimate frisbee, lacrosse, soccer and other related sports for youth, teenagers, and adults in the community! Of course, look for some exciting tournament play to have the Chuck rockin!!!

The chuck is located at 611 Highway 74 South in Peachtree City, Georgia. For more information please contact their office at 404-316-3557 or drop them an email @ plateh@bellsouth.net.

Is the Bank’s “Shadow Inventory” Casting a Cloud on the Real Estate Market?

Greg Saunders (RE/MAX Around Atlanta) — Fri, 07 Aug 2009 10:03:54 -0500

Hey Peachtree City & AR....has anyone noticed that a number of foreclosed homes seem to be just sitting for months on end with no visible effort going on by the banks to actually resell them? It really did not hit me until a client expressed interest in a foreclosed home in my own neighborhood. When I approached the sales broker for the neighborhood he informed me that the builder had gone bankrupt and the house was going into foreclosure in a few days. "Call me back", he said. "The house will probably a better buy once it comes out of receivership and is back on the market."

Okay, that made sense to me. So I kept making calls to the broker who kept informing me that the home was not available yet. Well, a period of about 3 or 4 months has gone by and the house is still just sitting....vacant! Then OMG it hit me like I was suppose to have a V-8 or something....lenders gotta just be sitting on thousands of foreclosed homes!

Why would I come to that conclusion you say? Okay, normally, foreclosures go on the market about a month or two after the banks take title. Most foreclosures are also priced to sell pretty quickly. Some properties even sell within days of the listing. The bottom line is that the process from listing to offer to closing is easily no more than 90 day. So what's really going on?

My research should provide some insight regarding this issue. These properties know in the industry as "shadow inventory" may be a proverbial time bomb for the real estate market. For example, what would happen if all of a sudden these inventories flooded the marketplace. The disaster would result in further depreciation sparked by the existing glut of foreclosures in the marketplace. So what is the real logic for the banks holding on to all these distressed properties?

First, and probably the most obvious is that the banks are slow to move this inventory because they would have to reflect the losses on their books. Having to reflect these loses on their balance sheets would put further stress on the banks. In a previous post, Bank of Georgia Receives "Cease & Desist" from FDIC! I brought an awareness to the fact that Georgia already has a huge problem with the amount and rate of bank failures with more expected.

Secondarily, banks may be holding inventory to allow for a slower free-fall of prices. Market recovery may also bring about increasing assets! Still another variable may be that it just takes a good deal of time and money to get a foreclosure cleaned up and ready to be marketed. Folks, Georgia now ranks sixth for total number of foreclosures for the first half of the year with 56,391 as identified by RealtyTrac's Midyear US Foreclosure Market Report. That's a staggering one foreclosure for every 70 households!

The real problem I foresee could correlate to the timing of dumping these inventory on the market place. If banks are forced to bring these distressed properties to market before an assumed bottom is reached it will undoubtedly push housing prices even lower. Should banks wait until the feel they see recovery then it could actually stall real recovery. Further, there has been serious discussions regarding what could be another wave of foreclosures as the Alt-A and Option ARMs reset.

Is this really a problem that should make Georgians catch a case of insomnia? I'm sure that depends on who you ask. However, the only way to keep folks in their homes is to keep them employed!! Right now unemployment is over 10% in Georgia! Georgia has lost 251,000 over the past two years and in June paid out $167.2 million in unemployment benefits. With that being said, if the recession is nearing an end, Georgia must not only find a way to cope with increasing unemployment numbers but we must also deal with the over 67,000 folks that have already lost their jobs, hope, and maybe their homes.

Lastly, let just be honest......Most folks are not looking for a hand out......but a hand up!!!

Bank of Georgia Receives “Cease & Desist” from FDIC!

Greg Saunders (RE/MAX Around Atlanta) — Tue, 04 Aug 2009 13:20:58 -0500

The Bank of Georgia is under some major scrutiny as the FDIC served a "cease and desist" to the Peachtree City-based bank. The order basically states that the Bank of Georgia has been cited for a number of banking practices that could represent unsound and unsafe banking practices.

Specifically, the bank was cited for operating with inadequate capitalization for its risk profile. Additionally, the bank was operating with inadequate management citing that those practices are detrimental to the bank and further jeopardize its deposits.

Bank of Georgia execs have commented on the situation stating that the dozen complaints had already been address in subsequent bank examinations during 2008 and are considered resolved. Bank of Georgia also contends that most of their loans are tied to the construction industry and the bank has made no sub-prime housing loans.

Bank of Georgia is one of 18 banks in Georgia that have received "cease and desist" order this year. Add that folks to the 16 banks that have failed in Georgia for 2009. The total banks failed nationally this year has reached 64. The 16 here in Georgia have cost of a whopping $807 million! The tab for all failures in 2009 so far is $13.5 billion nationally!

So why is a state like Georgia home to only 4% of the nation's banks......account for 20% of the failures? It seems that the main cause for bank failure here in Georgia is tied to builders, developers and construction loans. Not only that, Georgia was a state that experienced pretty rapid banking expansion. Psst...just so you folks know.....it's not over yet!! Even as you read this....a number of Georgia banks still have a daunting amount of delinquent loan looming on the horizon and more failures are imminent. In fact approximately another 30 banks are in jeopardy of failing!

As you might have guess, the future viability of Georgia banking community is now being fought out by bankers, regulators and politicians. Some banks have even gone as far to complain that Georgia banks have not had adequate access to TARP monies. Sen. Johnny Issacson has interceded and met privately with regulators to discuss the strict oversight and the future of Georgia banks. Needless to say, the FDIC and other regulators have still been very assertive although efforts have been made to send real estate specialist to scrutinize these loans.

It should be noted that the Bank of Georgia opened in 2000, operates 9 locations and employes about 2800 people.

Stressed out about your Financial Situation? There May be More at Risk!

Greg Saunders (RE/MAX Around Atlanta) — Wed, 22 Jul 2009 18:28:23 -0500

Hello Peachtree City and AR! You know unless you are living in a bubble or related to Mork from Ork (remember Mork & Mindy) we are obliterated daily by the news and views on the current status of the economy. For many families this constant deluge of data on the economy coupled with the reality of our own personal financial problems provides the perfect scenario for a guest appearance by an unwanted visitor.....S-T-R-E-S-S!!!

If staying in your home has become the main source of your stress....have you at least talked to a professional or looked at your options? Are you facing mounting credit card debt, car payments, insurance, gas, and other financial challenges? Have you taken any action or just waiting on divine intervention? Panic, worry and stress have some folks on the verge of......well doing something drastic. That normally means something reactionary. The result...more stress!

What to do? Well worrying about situations never really seems to help. It sure hasn't worked for me. What's worse is that I'd probably be sporting a fuller head of hair. But seriously, what about the results? Okay, let's examine the results of stress. Folks in these times of economic uncertanity many of us need to get a handle on how to deal with stress so we can continue to lead happy and normal lives. But you must first realize that dealing with stress is a process and not an outcome.

No I'm not a physician but think about it for a moment. Our attitudes influenced by rushed lifestyles and expectations of instant gratification reflect the need to just eradicate stress rather than to reduce, manage or control it! The result has been what is becoming known as "lifestyle diseases." These diseases are commonly known as heart attacks, strokes, and cancer. So anyway that you look at it stress either real or imagined is the inability to cope with a perceived threat to your mental, physical, emotional and spiritual well-being. Yep...when is the last time you checked your blood pressure or had a physical?

That's right folks....stress is no joke but a pretty complex phenomenon affecting your whole person, not just your body. Let's be rational here. As the stress mounts from financial worries....stress adds up to more than just a physical arousal and soon your body is literally a battleground for the war games of your mind.

Just as a note, I am no exception to succumbing to worry. I can even attest to the fact that some of my "worry wortness" has caused some depression in the past. Why? Well, if you break down worry it has a immense impact on you. Worry can immobilize your cognitive skills, cloud your rational thinking and therefore become the perfect breeding ground for.....stress!

What is so ironic is that most of us worry about crap that we have no control over. In fact, if you go back and think about it.....those things we worry about are actually quite menial and/or trivial in the grand scheme of things. Yes, we all have had the tendency to make the proverbial mountain out of a molehill....right?

So folks instead of worrying and stressing, how about attempting to use those same energies to plan, develop strategies, set goals and work on things that will potential enrich and empower us. Further, while you are permanently removing those distractions...guilt, worry, and doubt, your perception of life and what is really important will help to move you forward. Trust me...you will see thing in a whole different light!

Just remember, Yesterday's the Past, Tomorrow's the future but Today is a Gift! That's why it's called "The Present!"

Peachtree City, GA Voted As One of the Top 10 Places to Live in America In 2009!

Greg Saunders (RE/MAX Around Atlanta) — Thu, 16 Jul 2009 12:47:04 -0500

Kudos to you Peachtree City...Again! Money magazine has graciously awarded the city the recognition as being one of the best small towns to live in the US. That's some awesome bragging rights baby!

Coming in at #8, Peachtree City and it 34,000 plus residents will all tell you that there is no better place to live and raise a family on this planet! Personally, it would be pretty hard to disagree and not acknowledge their strong sense of community. Besides...what's not to love?

All you have to do is take a drive via your personal vehicle or on a golf cart down the beautiful tree-lined street, roads, and avenues or cruise the 90 miles of golf cart paths to recognize that this is a unique and beautiful sanctuary. Not to mention the miles of friendly smiles you will see on the faces of all that call Peachtree City....home!!

So what is there to do in Peachtree City you might ask? How about let's start with recreation! Peachtree City has swimming pools; a soccer complex; baseball, softball & football fields; a BMX track; numerous parks & playgrounds; the Alta-approved tennis center; and the Kendron Fieldhouse and Aquatic Center. Oh yeah did I mention the Fred (Frederick Brown Jr. Amphitheater)...a 2,000 seat facility?

Additionally, for all of those that consider shopping a viable sport. Stroll the promenades of the Avenues at Peachtree City. Its a breath of air for the traditional mall routine offering an upscale "open air" shopping experience. There are also some great restaurants to check out before or after shopping.

Okay....So what were the factors that were used to determine where were the best places to live? Well, Money magazine considered the economy, job growth, incomes, housing affordability, education, and crime statistics. As I mentioned earlier, Peachtree City has been distinguished before by the magazine. In 2005 the city was ranked #8 and back in 2007 #67.

Finally, I wanted to also recognize both Suwanee (#35) and Martinez (#63) for making the Top 100 list. So for all you city folk from the east, midwest, northwest and other parts of our great country....if you are looking for a great place to raise your family or even retire, maybe Georgia should be on your mind.

Protecting Tenants At Foreclosure Act Of 2009

Greg Saunders (RE/MAX Around Atlanta) — Wed, 08 Jul 2009 08:53:29 -0500

Greetings Peachtree City & AR! Is it just me or does it seem like the foreclosure situation mirrors an unwanted fever blister on your lip. You know what I mean...it started kinda small then when you notice it you try and put everything on it to stop it from getting bigger and more noticeable. Much to your chagrin, it seems like the more you do to it the bigger and more noticeable it seems to become until you just decide to ignore it and hope that it will eventually just go away! Then in the meantime, you go about your business trying to pretend that it's not there or at least just not that bad looking! But the truth be told....it's festering, unattractive, and more than likely nobody is gonna kiss you until it goes away....right!

Alright, maybe that is an overblown example but you get the point and most of us have been through it. Unfortunately the foreclosure problem has also created issues for unsuspecting renters. The problem has become so enormous that the media picked up a story awhile back in Chicago where the Sheriff defied court ordered evictions because many of these folks had been paying their rents and now with only a few days notice were having their belonging (not to mention their bodies) physically removed from the properties.

On May 20, 2009, President Obama signed into law the "Helping Families Save Their Homes Act of 2009." This law include Title VII, "Protecting Tenants At Foreclosure Act." The Act provides that in the case of any foreclosure on a federally-related mortgage loan or on any dwelling or residential real property, the party taking title to the property pursuant to the foreclosure, ("Foreclosing Party") assumes the property subject to the rights of the tenant. If the owner decides to evict the tenant, the tenant must be given a 90 day notice to vacate the premises.

However, it should be noted that if the tenant executed a lease prior to the date of the foreclosure, the tenant has the rights to stay in the property until the end of the lease period. Of course, the exception being if the new owners will be the occupants of the home. Then the 90 day notice would apply.

The act still raises numerous questions and is vague about related issues as they severely impact the rights of foreclosing lenders. But, the primary purpose of preventing individuals and families from being evicted without due notice or consideration is paramount. Now let's hope we can find additional workable ways to help homeowners stay in their homes.

The Beach Boys Surf in For A Performance At The Frederick Brown Jr. Amphitheater on June 26 & 27, 2009!

Greg Saunders (RE/MAX Around Atlanta) — Tue, 23 Jun 2009 19:31:47 -0500

Hey Peachtree City & AR....Summer is here and the surf is up!! California is coming to Georgia as the Beach Boys invade the Fred for two day, June 26th and June 27th with their unmistakable sound and scores of hits thatwe all grew up loving and cruising with!

Now just in case you are too young or grew up in a bubble, the Beach Boys are a certified classic American Rock band! The band was put together in 1961 by Brian Wilson and his brothers Carl and Dennis along with cousin Mike Love and buddy Al Jardine.

These rock n roll hall of fame dudes are arguably the #1 American record selling band of all time! The Beach Boys quickly rocketed to rock star stardom boasting surfing motifs in many of its early songs depicting the "good life" advocated by sunny southern California.

Remember those hits? "Surfin USA", "Surfer Girl", The Little Duce Coupe", "Good Vibrations", "Barbara Ann", "Dance, Dance, Dance", "I get Around", and one of my favorites, "California Girls." Dude and Dudetts slap me five 'cause these dude practically revolutionized the teen scene in California with surfing, bikinis, cars, dating and......rock music. What did you think I was going to say?

So com'on out and get caught up in the energy and nostalgia from one of the most renowned groups ever to hit the rock scene. By the way, be sure to pick up and check out the newly released Beach Boy compulation of Summer Love Songs which includes Dennis Wilson's rare track, "Fallin in Love." This track was previously only available on imports.

Reserved Seats: $55.00. The Lawn is already sold out!!!

For tickets and more information please contact the FRED:

http://www.amphitheater.org/

(Email:) info@amphitheater.org

$134 Billion Dollar Bond Scam or Conterfeiting Scheme?

Greg Saunders (RE/MAX Around Atlanta) — Mon, 15 Jun 2009 21:42:39 -0500

Uploaded on July 2, 2008
by jigordon

Okay Peachtree City & AR, with all the financial fiasco going on here in our own backyard I've made every effort to only promulgate some of the more positive things related to our economy in efforts to minimize your stress levels and keep your attitudes as positive as possible. But, this one is so crazy you won't believe it to be true! I just had to write about what could turn out to be the biggest scam and/or counterfeit operation in history!

Two alleged Japanese nationals were taken into custody recently by the Italian Finance Authorities just last week after both attempted to cross the Swiss border with $134.5 billion dollars in undeclared U.S. Treasury bonds. That right folks...that's "$134 Billion" with a B dollars! Two of those bonds were one billion dollar Kennedy bonds, a denomination only used for national currency reserves. Now to give you some ideal of the enormity of this sum of money, $134 billion would be about 1% of GDP or about the amount of TARP bailout money left in the coffers.

Apparently the bonds were hidden in 2 suitcases with false bottoms containing some $500 million dollars each. According to my research, the Italians require you to declare monies over $10,000 euros in efforts to crackdown on money laundering and evidently these bonds had not been declared. The 40% penalty or approximately $38 billion would have been enough to pretty much wipe out all of Italy's national debt. But here is the kicker...Italian authorities were not even initially able to determine if the bonds were real or not.

To my knowledge the Federal Reserve has never issued bonds so I am a little confused with the Italian authorities initially being unable to distinguish real bonds from fakes. Hmmmm....However, it does lend credence to the fact that the counterfeiters work is so good that the fakes were indistinguishable from real bonds. My other concern is that someone had extensive knowledge of these instruments because how else would the fact be known that there was such an instrument as a billion dollar Kennedy bond or would be able to have access to the replica of his (Kennedy's) image. Heck, has anyone you know seen one of these bonds?

Okay folks, I know your head is reeling now with a multitude of questions. I'm probably sure that the most qualified one is, "Who can even purchase that large of a sum of securities?" That's a great question. Only sovereignty like a state or country can make that large of a purchase because the financial market are not privy to issuing and handling that kind of transaction. These and still more hair-raising questions in just a moment.

Before we even go there, let's go back a few weeks to the end of May to another incident that managed to fly under the radar. Italian prosecutors shut down an effort by the Sicilian mafia that attempted to use fake Venezuelan bond to set up over $2 billion dollars in credit lines with Bank of America, HSBC, and several British banks. This unbelieveable scheme is something almost straight out of the "Godfather" as "La Costa Nostra" continues its efforts to go legit increasing their already burgeoning bottom line estimated at $130 billion! Allegedly, corrupt Venezuelan central banking officials reportedly verified the fakes. That allegation was shot down by government officials. So, okay who are you going to believe, Italian prosecutors or Hugo Chavez! Wow, Martin Scorsese prayers were just answered as he couldn't in his wildest dreams have asked for a better plot for a next film to write and direct!

So could these two single incidents be connected in some sic convoluted way? Nobody is talking. Heck, nobody even really reported these events. Has crime taken flight to this grandiose a scale? Plus, what impact would this type of fraud have perpetrated on the money supply in the US? Can you say H-Y-P-E-R-I-N-F-L-A-T-I-O-N! Are our financial markets under siege by these sophisticated and well orchestrated new white collar criminals? I just saw the remake of the movie the Taking of Pelham 123 with Denzel Washington and John Travolta where the devious mind of a ex-con and former stock broker uses a massive kidnapping and murder scheme in New York to negatively impact the markets and enable him to legally make a 15,000% profit on his gold shares. A mere pittance to the $10 million dollars in ransom he requested from the City.

But really, can these two incidents be considered an unbelievable coincidence or point to something much darker? Is the road paved to the truth of these incidents blocked by Mafiosos like the Sicilians and Japanese Yakuza, corupt business entities, politicians and central banking officials?

Seems like we are all being held hostage these day!!

Eligible For the First-Time Home Buyer's Tax Credit? Check Out a Bridge-Loan To Use Your Credit in 2009!

Greg Saunders (RE/MAX Around Atlanta) — Mon, 08 Jun 2009 11:01:17 -0500

Listen up Peachtree City & AR potential First Time Home-Buyers!!

Now you can believe all the the hype you have been hearing.... there may never be a better time for first-time home buyers to buy a house than right now!

That's right folks...it was recently announced that plans are in process to permit FHA-approved lenders to provide short-term bridge loans, allowing eligible home buyers to access the their tax credit funds at closing instead of waiting for the tax credit in 2010. This can be your ticket to getting money to help cover closing costs and your down payment.

According to Realtor.org, "FHA-approved lenders received the go-ahead to develop bridge-loan products. FHA lenders are currently awaiting guidance from HUD on the development of these products...." Now please be advised that the monies CANNOT be used for down payments but home buyers can use to it to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent thereby saving more moo-la on interest charges.

As you know, the first-time homebuyer tax credit was implemented to help encourage households to enter the housing market while interest rates are low and home affordability is still high. The credit worth up to $8,000 does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Hey folks it's time to get off the fence and get on the horn to a real estate agent and mortgage broker today! Oh, excuse me my phone is ringing....this must be you!

Cool Plan…..Paint Your Roofs White?

Greg Saunders (RE/MAX Around Atlanta) — Fri, 29 May 2009 17:34:10 -0500

Hello again Peachtree City and AR! This blog has definitely no lack of controversial subject mater. So are you ready for this one? Ready or not....here goes!

US Energy Secretary Steven Chu, the 61-year-old physicist who is also a Nobel laureate in physics, says that he has the solution to the green house emissions that would literally be like taking every car off the road on this planet for 11 years! Pinch yourself and read on. This geo-engineering phenomenon would involve the painting of the roofs of homes and businesses.....WHITE!!!

Okay folks, I'm sure everyone has their own take on the scientist-turned-politician's advice to Prince Charles and the world. Further, for a more provacative debate you'd also probably have to stand in line as Chu has been all but Chu-ed up by a lynch mob of environmentalists over decisions he's rendered about America's campaign to fight global warming. But putting all the political horseplay and bantering aside....Is there any merit in the whole premise of white paint reflecting sunlight enabling buildings to stay cooler and using less energy? I didn't have a lot of physics courses in school but I do know that white paint emits less radiation so it would help to keep homes cooler in summer. In regards to the winter, you would probably have to have pretty good insulation.....but most heat is lost by convection, not radiation. My research has ascertained that it is all about Albedo....ability to reflect light back into space.

Essentially, the white rooftops would function just like the clouds reflecting heat back into space. About 50% of sunlight is visible light and the other 50% is heat. I know this sound like more hype and I'm not a scientist but the premise of these factors leading to about a 50% reduction of visible energy from the sun has to be at least acknowledged and researched further at this point. But for all those that are still processing this information...we'll just let that info marinate in your head for a few. But continue on my friends, there is more to this story.

So alright...think of it this way. Every year we would keep out of the atmosphere approximately 2.4 billion tons of carbon dioxide or the emissions produced by 60 million cars! On a bigger scale if we painted every roof in 100 major cities it would offset the entire planet's carbon emissions for one year. That just about 44 metric gigatons of Co2!!!!

I'm also inclined to think that if we do roof we might as well also consider our concrete and asphalt roadways. Every summer it gets so hot that you can see haze and smoke literally rising off the pavement. In Atlanta the asphalt get so hot that I could have sworn I saw the devil running butt-naked down the road nursing a sunburn. Okay so maybe it was just someone with a sunburn that ran out of gas from sitting in traffic. But traffic and rising oil prices are other issues and posts I'll reserve for another time!

Anyway, just for the record, let's go to the experts. I'm sure any scientist will state that there is conclusive
evidence that support the correlation between the amount of carbon dioxide in the atmosphere and the increase of global temperatures. Hashem Akbari and Surabi Meno, along with Art Rosenfeld, California Energy Commissioner and Professor Emeritus at the University of California, Berkeley, are so convinced that this idea will work, that they have proposed a "Cool World" Plan that would use white roofs, and solar-reflective roofs of other colors, to reduce greenhouse gas emissions and help delay atmospheric heating effects.

Alright folks I hear ya rumbling out there. What would this type of project costs, right? Well the estimates I found were about $2.50 to $3.00 per square foot. So if you were to look at a 100,000 square ft facility the cost would be about $300,000. On the flip side that same ar-conditioned building here in Georgia would would probably recoup those cost pretty quickly in energy savings. By the way, talk about a boost to the job market...look how many jobs could possibly be created by this endeavour alone. (Not to mention paint stocks) I'm not a politician either but this agenda could be the beginnings of a serious debate which could include merit consideration for a tax credit to individuals and businesses to assist with implementation costs.

If this concepts still does not make dollars and sense to you, let's break it down to what we were all taught by our parents growing up. We all wore light colored clothing in the warm months because we stayed cooler that wearing dark ones, right? Additionally, if you have had an opportunity to travel especially to a Mediterranean country it is no surprise that residential homes and roofing came in a cornucopia of cool colors and roofing materials. This new research by Akbari, Rosenfeld, and Menon goes on to give estimates on how much cooling might be possible, in equivalent mass of carbon dioxide, by converting roofs and pavements in the world's urban areas to solar-reflective surfaces. Their research calculate that retrofitting 1,000 square feet (about 100 square meters) of roof with cool material that reflects 60 percent or more of the sun's heat would offset the emissions of 10 metric tons of CO2.

Starting to make sense now? Folks there is already tried and true technology out there for us to utilize in addressing this problem. Not only that...there has been technology around for just more than a minute. By the way, an even more startling revelation from my research found that in 30 years more than two-thirds of all the people inhabiting this earth will live in urban areas! Yes our cities will be gi-normous and if we don't get a handle on this now, the problems are obvious. To give you an example, did you watch the Olympics? The air quality in our major cities pale in comparison to Beijing. If this still sounds absurd to you, I understand your cynicism....however do your own research. The information is out there and available to us all. Don't be so naive to think that a real problem does not exist and even more-so that it will just go away!

Yeah...I hear ya now! Something needs to be done and with all the wasted energy being exerted by some of our elected officials.......it's all just enough to make you lose your cool!

.......Blame It On The Economy!!!!!

Greg Saunders (RE/MAX Around Atlanta) — Mon, 18 May 2009 11:20:15 -0500

Hey Peachtree City and AR community....There is no doubt that the ECONOMY has provided the ultimate scapegoat! Not enough money...blame the economy. Lost jobs, blame the economy. Increase in gas price, blame the economy. Gained a bunch of weight, definitely blame it on the economy!

Okay, so I'm being a little facetious but in this economy I think everyone would agree that we all need something that can bring a smile to our faces. What we need is.....a real recession-buster! I pondered a minute then I remembered one of the things that seemed to always bridge the proverbial gap.....MUSIC!

Of course not just any music....it had to be something that was timely and relevant! How about a song about the.....Economy!

So here it is folks....enjoy! And if you didn't, simply blame it on the economy!

Click here > Blame It On The Economy!!! High Five's and fist-bumps (Dap) to all going through it!!

Governor Purdue Signs Georgia Housing Tax Credit Bill!

Greg Saunders (RE/MAX Around Atlanta) — Sat, 16 May 2009 18:52:16 -0500

Atlanta, GA Georgia State Capitol

Originally uploaded by army.arch

Greetings Peachtree City! Well it finally happened! Governor Sonny Purdue signed into law the highly debated House Bill 261 on May 11, 2009. How much controversy was behind this bill? Well, as far as the Georgia Association of Realtors were concerned, it was at the top of their 2009 agenda.

From the side of the opposition however, this bill seemed unnecessary because it was felt that the credit would not pose to be a huge incentive for folks that were preparing to buy anyway. Critics also stated that Georgia is facing a $3.1 billion deficit in fiscal year 2010 and projected deficits projected at $746 million in 2001 and $1.7 billion in 2012.

Just for the record, I personally think that Governor Purdue should be commended for taking a stand to assist Georgians with another stimulus to combat our housing crisis. The impact of home foreclosures has devastated our communities not to mention the psychological and economic impact that has results from families losing their homes through foreclosure.

HB 261 gives new homeowners a one-time tax credit of 1.2% of the purchase price or $1,800, whichever is less. To be eligible you must purchase your new single family residence between July 1, 2009 and November 30, 2009. The tax credit is applied over three years, with one-third of the credit available each year. If a the amount of the credit exceeds the taxpayer's tax liability, then the unused credit may be carried forward to the next tax year.

Based on projections according to GBPI analysis, the credit will result in between 900 and 1,100 additional homes sold at a cost to the state of $164.5 million. Now as I mentioned earlier, pundits will protest the fact that the credit is sending hundreds of millions of dollars to Georgians that were already going to purchase a home. However, the way I look at it is that this gives a bigger nudge to those folks still sitting on the fence and a chance to reduce the huge inventory of homes on the market. Further, through home ownership we have also created additional new property tax revenues.

For Realtors and the mortgage financing community an additional 900 to 1100 homes or a 1.2% increase will be sold this year. This number is based on the estimated calculation of 90,500 homes sales x .012 = 1100 homes.

So hey neighbor....you've got the federal first time home-buyers credit ($8,000), the new Georgia State Income Tax Credit ($1,800), combined with home prices and interest rates at historic all-time low. So, if you have been playing hide & seek waiting for a better time to buy....The time is now!! Get off the fence, pick up the phone and call an agent and a mortgage professional now!

If you don't have one...I hope that you'd give me a call! I'd be privileged to assist you with all your professional real estate needs!

The Law Of Attraction: Can It Have An Impact On Your Real Estate Business?

Greg Saunders (RE/MAX Around Atlanta) — Wed, 06 May 2009 14:24:32 -0500

Thoughts the one
Originally uploaded by FeelFreeTravel

Greetings Peachtree City and friends that have followed my blog. Over the last several months I noticed that my sites were getting tons of hits from all over the country as thousands of folks were reading my blogs. (I know because each of my sites has analytics to track visitors) Anyway, if you have read one of my posts you pretty much know that this is definitely not your A-typical real estate blog.

Each post was the result of extensive research, years of study, and personal experiences. These experiences in both the public and private sectors proved to be real "revelations" about the inner working and the behind the scenes activities of our systems related to finances, government, education and the economy.

The results of my knowledge and experience developed into a real passion to enlighten folks by providing information that empowers and provokes the need to think, question, and qualify what we have been led to believe and accept as factual. The topics have been current, the writing poignant, and my perspective and analogies....well let's just say I've received comments ranging from brilliant to folks who thought I may be blogging from a drug induced state.

Anyway, during one of my monthly business check-ups, a bell went off in my head! With all the traffic on my site I felt that my business should be progressing a might bit better than it has. As I normally do, I discuss my business with my brokers and several confidants and mentors who I can always count on to give me pretty honest feedback. My initial conclusion was that I could be farming the wrong area and/or maybe I was being excluded due to a number of what I thought were reasonably rational theories. There I sat late one night pondering over the empirical data when my wife walked into my office. Of course, I showed her the numbers and asked what she thought. Expecting at that point late in the evening to get a petty nonchalant response like, "well...you never listen to me anyway," I got the most profound answer. "Hun....I know your articles are really great but maybe it's the subject matter. You write so much on all the gloom & doom in the world."

Stunned, her words started resonating in my head! Okay...maybe my wife (Kaye) won't read this one but...I'll have to admit just maybe she was right....again! Doggonit! Could the Law of Attraction actually apply to my success in business endeavors too? Could it be that my consciousness has absorbed all the negativity from all the doomologist I embraced daily from CNN, CNBC, Fox News and the rest of the sarcastic, melodramatic, overly negative bearers of the gloom & doom theory? Was I then proselytizing the same victimization? Had I become self-absorbed in the gloom and doom mentality to the point that I was becoming a cynic and allowed feelings of depression to infiltrate my attitude on a daily basis? Even worst, could it be that my focus on scaricity was attracting what I was promulgating and then manifesting what I was focusing on....Lack of?

Was I freekin out? Just then the shock made me realized something rather ingenious...I had a choice in the matter. Not only that, I could utilize the Law of Attraction to create what I wanted for my business simply by focusing in on abundance and opportunities. Believe it or not and despite the economy there are some very good things happening in our industry. All we have to do is bypass the minutia and all the self-limiting beliefs and and find a way to turn them into ideas, visions, and successes. I'll have to admit that the brokers in my office have made every effort to overcome all the negative energy by finding ways to help make us successful despite the economy. Thanks Kristen Anclien Jones and Megan Pafford Wyatt and all the great agents and staff at our office for insuring that it remained a safe haven full of promise as well as a conduit for continual success.

Folks, there is probably nothing you can do to change market conditions but you can change your attitude!
Change the television channel, change your friends, change your conversation, change your focus, change your attitude...and in doing so change the outcome of your life. Just in case you didn't know there were more millionaires created during the depression than in any other time in history. If there was ever a good time to utilize the Law of Attraction....its now! Remember, within every adversity is an equal or greater benefit.

Oh I know there are you naysayers....just reminds me of something I heard growing up. "Those convinced against their will are of the same opinion still!" Well, I guess they still gotta sell newspaper, right?

Hmmmm... but it seems like gloom and doom isn't even selling newspapers too well these day either!

Much success to you whatever your business or personal endeavor!!!

Japanese Zero Airshow Coming to the Peachtree City Memorial Day Celebration!

Greg Saunders (RE/MAX Around Atlanta) — Wed, 06 May 2009 13:02:57 -0500

Get ready Peachtree City...the Japanese Zero Air Show is coming as part of the Peachtree City Memorial Day celebration on May 30, 2009!

The air show features an excitingly and breath-taking replica of the feared and famous Japanese "Zero" fighter that once ruled the Pacific skies in the early part of WW II. This aircraft is a replica A6M2 "Zero", also known as a "Zeke" and was built for the filming of the now famous WW II film Tora! Tora! Tora! about the attack on Pearl Harbor.

Just to give you a little bit of history, The A6M2 or Zero was one of the most significant aircraft in the Japanese Navy's arsenal. Also known as a Zeke, this piece of machinery was a fighter aircraft whose performance was far superior to anything in the United States inventory, and perhaps the world. The Japanese were confident they could control the entire Pacific with their air superiority. While over 10,000 Zeros were produced, their losses during the war, and the requirement included in the Japanese Surrender Agreement signed in August 1945 stating that all of Japan's offensive weapons be destroyed, made unavailable any authentic Japanese war planes for documentary and film production.

The replica A6M2-21 Zero is authentic right down to details included the addition of 7.7mm machine
guns over the engine cowl, a 20mm canon on each wing, and a cockpit canopy modified to the specifications of the original Zero. Even the detail of adding the three bladed prop, a tail arresting hook and converting the formerly fixed tail wheel to a fully functional retractable tail wheel were accomplished.

The Zero was the predator of all aerial dogfights and the nemesis of the US Wildcat with a max speed of 364 mph, a cruising speed of 201 mph, and unbelievable range (1,200 to 1,800 miles). Surely the Zero can be without argument considered one of the best fighter planes of its time next to the British Spitfire.

The pilot is Capt. S. J. Jack Van Ness, Jr. Capt. Van Ness has an aviation background that includes having been a flight instructor, corporate pilot and airline pilot. His experience includes flying the Lockheed PV1 Super Ventura, Howard 500, Lockheed Constellation, Douglas DC7, Lockheed L188 Electra, Douglas DC8, Douglas DC9, Boeing 727, Boeing 757, Lockheed L1011, Airbus A300, as well as many light aircraft.

Jack and his wife, Barbara, reside near Atlanta, GA and are active Colonels in the Dixie Wing of the Commemorative Air Force. He is a flying sponsor of the Dixie Wing P-51 Mustang and Korean War LT-6 aircraft. While his formal education is in Aerospace Technology and Business, he enjoys flying in air
shows and discussing some of the history of the events of Pearl Harbor, the Battle of Midway, and the war in the Pacific to the younger generations he meets.

Don't ya dare miss it!!

For more information contact:

Japanese Zero, LLC
Attn: Jack Van Ness
826 Gary Summers Rd.
Senoia, GA 30276
Phone: 770-599-1355 Fax: 770-599-3171
Email: contact@japanesezero.net

SOS.....My Home is Underwater!!!

Greg Saunders (RE/MAX Around Atlanta) — Fri, 17 Apr 2009 13:02:20 -0500

Hey AR, it has been a pretty sobering experience to speak with some many folks who now face the simple fact that their homes are now worth less than they owe on then. Hence the terminology being "underwater". For the people that have not experienced the joys of home ownership yet, it equates to the same thing as your car being "upside down" where you actually owe more that its worth. I have been impacted by this behemoth phonenomon because we decided to build a custom home in a brand new golf course community. Being the 2nd or 3rd home sold, we felt we got in on the "ground level" before the word got out and prices got jacked up.

Now I probably need to preface that statement because I don't want it to be taken out of context. We are investors and have other real estate and the house was an investment for us. Not only financially but it was part of my dream to be able to afford our aging parents some serenity and affirm to our grown children the meaning and sense of family ties and values. If that sounds hokey to you...blame my mom for sending me to catholic schools and coronating herself as the patron saint of care-taking.

Anyway, just the other evening a noticeably excited neighbor stopped by to give me some news about how he was able to modify his loan. Of course, he got my attention because we both have similar styled custom homes which we have watched lose about half their value. He then proceeded to tell me that his mortgage company modified his interest rate to 4% and his actual mortgage balance to coincide with the current market value of the home. He went on to tell us about the friend (who told him) that he got mods to his loan to include only paying $200 per month for a max of 24 months which will allow him to find reemployment. "But today is the last day and you gotta get down to the World Congress Center before 8pm!" As I closed the door, I jumped on the computer to verify what he just stated. A few days earlier I had just learned that the $320 Billion Hope-4-Homeowners had only modified one mortgage. Just that quick, I was greeted by the wife's shriek...."Let's go!" I guess that assumption was relevant enough to move her to action.

All I can say is with Blitzkrieg the wife and I jumped in our car and headed downtown. I had a notebook
full of certified letters I prepared to the mortgage companies that also contained BOPs, Appraisals, Recent Homes Sales, and info from Zillow and what ever else I could find and use to verify that our area and specifically my home was in distress. You see my subdivision was started by very reputible builders that had successfully developed other golf course communities. These builders and their vision along with several others who built spec homes around us are now all gone. The leftovers were numerous vacant lots, plenty of new foreclosed custom and spec homes, and tons of promises. Of course, the golf course is the goose that laid the golden egg so its still the focal selling point of the community. So sell they must and did! The foreclosures started to be sold by the banks as we watched the value of our investments get desecrated.

Well it turns out that the program that our neighbor was describing is The Homeowner Affordability and Stability Plan (Hope Now)as part of the President Obama's strategy to help families restructure or refinance their mortgages to avoid foreclosure. To be honest folks as Realtors and Mortgage professionals most of us have seen the mortgage meltdown and the down turn of the economy impact our ability to make a living in the industry. I won't even mention job losses....they speak for themselves. Our family had it cutting both ways. My wife was in the mortgage business (until recently) and I was in real estate. All I knew, is that I have a family to protect; 3 kids still in college, a son with a new baby and my dad fighting diabetes and cancer. As astute as I felt I was in investing, money and finances, it seemed that I was looking at the only viable alternative...walk away from my home rather than to continue to invest in a asset that would never regain its original value. Even a short sale was eliminated as an option because the bank would report the difference from the short sale and send it to the IRS where then it becomes subject to taxes. Uggghh!!

So pretty much we met with the officials representing our mortgage company(s) and began to discuss the program, options, and requirements. The requirements were minimal, the reps really helpful and the stated time it would take to find out if we qualified went from the months that I have been sending certified letters to a matter of days. Now, it should be mentioned that all the qualifying financial instutions do not have a finalized plan in place but it looks like most are very close to closing that gap. You don't really grasp thefull magnitude until you looked at the sea of people waiting on this the 3rd and last day. It should be noted that from the explanation we received from one of the mortgage reps it appears that the banks will somehow assess the market value of these troubled assets and modify the loan amount to current market values and work out terms that are advantageous to the homeowners and investors based on their financial conditions and ability to pay.

As we left and was driving back home exhausted, my mind drifted back to earlier in the day. I had just completed an afternoon of looking at homes with an out of town client. But on the way back to my client's hotel I noticed a man on the highway. He looked about 30-something...unkempt, his clothing tattered and in his dirty hand was a sign soliciting drivers for money to buy something to eat. People past him annoyed but I stopped rolled down my window and gave him a dollar bill. Just then I noticed a shinny-new black Mercedes slowing and literally stopping traffic. A man's suited hand emerged and it had a large number of bills in it. I slowed down so the man could run up and get the donation. Then as I exited off the highway I was stopped by the light. looking left, I noticed a young lady in a wheelchair with a QuikTrip cup. Both her legs were missing and it looked like the amputation was recent because the wounds were still healing under a dirty nylon stocking dressing.

It almost broke my heart because I have a daughter too! I looked at her, smiled and crazily all I could think of to say was to ask how she was doing. I got a broken smile back but what got me more was what I saw in her eyes. It was like all the humanity was gone but the reflection went much further and it seemed as if I looked into her soul and there she was a person with all her appendages....flesh and blood just like me and the only thing that made us different were our circumstances. What was a short time seemed like forever, as the light changed to green. I again reached in my wallet. I felt bad because she said I had to throw the money at her because the curb restricted her so she literally could not meet me to get it. I drove off trying not to let my passenger know my emotion at that moment. That emotion must have sparked another image in my head. But this time it was someone I had recently spoke with that in our initially meeting seemed to have it all and now other personal circumstances seems to have pierced through to the spirit. It was the eyes.....not the same color but just the same as I had seen twice earlier!

I immediately looked over at my beautiful wife and grabbed her hand. in an instant it seemed like all the problems that I personally was experiencing seemed so small. I remembered her saying that my preoccupation with my business and the economy was consuming me and that I was missing out on what life was really all about. No it wasn't that I was a bad husband or father. It wasn't about the house or all the things we had accumulated or some now even lost. Then I remember the question she asked me, "Greg if we lost everything....we would still have us, right?"

Folks, I can't predict what will happen to our economy....heck I can even see to type this post without having glasses on. However what I am sure of is that through it all remember and hold on to those things that really matter......close!

Death & Taxes.....Which Comes First?

Greg Saunders (RE/MAX Around Atlanta) — Wed, 15 Apr 2009 17:56:15 -0500

Hey AR...you know I often wondered what Ben Franklin was really thinking about when he wrote the phrase "the only thing certain is death and taxes"in a letter sent to his friend Jean-Baptiste Leroy in 1789. We all know that our day is enviable but have you ever really thought about which one really comes first.? Oh come on.......you know the taxman always cometh first!

But the truth be told folks look at how much of our lives are regimented based on the simple premise of trying to avoid tax liabilities. Just how bad is it? Let's pause to reflect for just a moment. We spend enormous amounts of time and money looking for investments, shelters, tax loopholes, and yes some folks even plan to have their babies just at the end of the year to get that extra tax credit! Shameful you say? Well, just like Sargent Joe Friday from Dragnet, I'm here just to give the facts. Speaking of facts, 20% of all American wait until the last week to file and 5% to 10% wait until April 15th. That when in a rush we ambush our accountants and CPA with the phrase coined from Larry the Cable Guy...'"Just Git-R-Done!"

By the way speaking of death and taxes, were you aware of the new law that has slayed the so-called death tax? Yep, back in June of 2001, President Bush made good on his promise to slash taxes by putting his John Henry to the trillion dollar tax cut package that has become infamously known as the Economic Growth & Tax Relief Reconciliation Act. Of course, that nifty piece of legislation proved to contain the biggest cuts in over 20 years but some of these changes may or may not even go into effect.

One of the biggest and most complicated is the repeal of estate taxes set to go into effect in 2010.
Stay with me folks...the estate tax exemption increases from $675,000 in 2001 to $3.5 million in 2009.
Then in 2010 "poof" its gone! But guess what, it reappears again in 2011 at a $1 million dollar exemption! Why? Get this....In order to meet budgetary restriction a "sunset" provision brings the rule back in force in 2011. Here is the 411.

Under the current law when you die, your assets receive a "step-up in basis." This means that real estate, stocks and other inherited assets are valued at their market price on the day of your death, not the price you originally paid for them.

This will of course change after the estate tax is repealed but it could create a paperwork nightmare for folks who inherit a large amount of appreciated assets because you will need to get your hands on records that will document the original purchase price of the assets. May I suggest that for more information please consult your attorneys, financial planners, Accountants, or CPAs for more information on the tax, probate, trusts, credit-shelters, and other questions related to handling your estate.

But not to worry! I'm certain that President Obama and Congress will soon revisit this issue prior to the end of the year. Word out is that the Prez is not in favor of a full repeal but looks to keep the exemption at $3.5 million. I believe that the gift tax will also stay. Yeah, I know what you've thinking....All this crap is really taxing your patience.

The G20 Meeting.....A Turning Point?

Greg Saunders (RE/MAX Around Atlanta) — Mon, 06 Apr 2009 12:58:11 -0500

Okay AR...can we talk for a moment? It's official! After the meeting of the G20 all of the World's Governments are now focused on "fixing" the problems at all costs. Hmmmmm...so when did government get bigger than the market? Don't know. Back to the G20 in uno momento.

First...what you may or may not know is that recently the Financial Accounting standards Board (FASB) suspended its rule #157-e...the Fair Value Rule. Basically this rule requires banks to value their assets using a "mark-to-market" method. Not sure what mark-to-market valuation is all about...go back and check out an earlier post of mine. Anyway, the FASB reports that the new measure purports to guide asset holders who mark their holdings to market through a two-step process to help them decide "whether a market for a financial asset that historically was active is not active and whether a transaction is not distressed."

Okay so hurdling all the legal mumbo jumbo this basically means that banks now have greater flexibility and can use their own valuation methods. This could lead to reduced bank write-downs and boosts to their net income. However, what scenario have we created by allowing these institutions to mark up prices on assets? Are we not attempting to expose all these toxic assets and further create incentives for investors to buy them up? Is this more lying to investors and taxpayers to shore up the financial markets bottom lines so they can report higher earnings? On the other hand, if the new changes caused some growth on bank balance sheets..does it not make sense that they should be in a better position to lend? Regardless of either way is Valuation not the real problem here? Did the lie on wall street stem from utilizing the face value of assets? Got you scratching your head now, right?

While you're checking your scalp, back to the G20. President Barrack Obama stated at the G20 meeting last week in London that, ".....he came to listen and not to lecture" Yes...listen we all should, and watch very closely. Talk of US economic supremacy is now being replaced with collaboration, diplomacy, and cooperation. Yeah you saw the picture of President Obama with Russian President, Dmitry Medvedev, China's president Hu Jintao, and the President of Italy, Georgio Napolitano looking like a reunion of old frat buddies. But did you get past the smoke and mirrors to see some of the things that were really going on...How about talks of a New World Reserve Currency!

Oh but the Oligarchs are at it again! Just to bring you up to date an economic alliance has been formed between Brazil, Russia, India, and China back in 2008. The B.R.I.C. nations represent the 4 largest oil production countries in the world lead by Russia. (You probably didn't know that Rusia produces even more oil that the Middle East) Essentially, what is happening is that with the US national debt soaring at over $11 trillion and expected to grow another $10 trillion over the next 10 years, some countries are worried. China hold $2 trillion in foreign reserves with two-thirds of that in US assets. Then came the announcement that the central bank was to buy $1.1 trillion in securities. Xie Xuren, China's Finance Minister, and Zhou Xiaochuan, Governor of China's central bank are becoming increasingly vocal as one of the world's emerging and evolving economies focused on reshaping the global economic landscape.

Of course with this type of bulging debt, a concern UN panel has publicly stated that the world should replace the dollar. Not only that, China, Russia and its partners have all called for the establishment of a New International Reserve Currency. Oh no folks, this consortium won't be be looking for something based on the gold standard but more so on something that would allow oil to be reflected independently. Remember, under the OPEC agreement oil has been traded in US dollars since 1971. Opps..of course there are always pundits. Remember, Iraq switch to trading oil in euros. Iran has been asking customers to pay in non-dollar currencies and have converted all its oil export payment to non-dollar currencies. Hugo Chavez has little love for the dollar and Venezuela has been bartering with oil.

Could the rise of the Euro be partially the reason for the Iraq attack? Check back to 2002. Saddam Hussein may have seal his doom when he announced in 2000 that Iraq was no longer going to accept dollars for oil and decided to switch to the euro. Even stranger, this change somehow missed being reported by the big media conglomerates. By the way, the dollar was reinstated again about mid 2003. However, what has been revealed is that there was active Pentagon planning for operations against Iranian suspected nuclear facilities. Okay, Okay we all know the publicly stated reasons and consequences for Iran housing "weapons of mass destruction." What you did not know was that Iran had the ultimate nuclear weapon aimed at the financial system of America.... The Iranian Oil Bourse. Just think about it, Iran was about to commit the mother of all sins....creating its own exchange to compete with the US NYMEX and London's IPE when it came to trading oil.

Getting back to B.R.I.C...in a surprise move at the G20 meeting, China suggested the world move towards greater use of the International Monetary Fund's Special Drawing Rights, created by the IMF in 1969 as an international reserve asset. The expansion would include the rouble, the yuan, oil,and gold.

Now I'm sure we can all make a point about what will come to past and maybe even predict what is about to come. Perhaps we will all be partially right. But the truth be told, the Chinese and Russians are taking the first steps to plant the seeds at the G20 that the US is jeopardizing the dollars as the world currency by printing massive amounts of money. So while thousands of blokes in London gathered to protest at what some feel is the epicenter of financial hijinks, I can't help but to ponder on the fact that the financial structure of the US is truly broken and what will be the repercussions to the average guy like me; or why the lack of oversight and greed that was allowed to fester and permeate for such a long time.

How can we trust anyone? The security and investment community contributed $146 million in campaign
contributions and the banking industry added another $34 million. How do we stop the Bernie Madoffs, Mark Dreiers, and AIGs of the world who use fixed financial reporting, payoffs, corrupt elected officials and fear to perpetrate their criminality. All for the love of money. But alas..these folks and opportunities would not exist if not be for greed disguised as the American Dream that allows the average person to become the next rape victim and the rising professional to become a criminal.

AIG...The Next Big Box Office Hit?

Greg Saunders (RE/MAX Around Atlanta) — Mon, 06 Apr 2009 10:33:17 -0500

Hey Peachtree City, Remember the scene from the classic 1983 movie with Al Pacino, "ScarFace" where the mob boss Frank Lopez (played by Robert Loggia) was bringing in the new guy Tony Montana? Big Frank told Tony with a vociferous voice, "never underestimate the extent of the other person's greed!" Wow, I can see Spielberg or Scorsese chomping at the bit waiting to see how things play out with AIG and the Feds. They are probably anticipating not only a huge movie blockbuster but more that likely a sequel to boot...Cha-Ching!

How about the scene from Wall Street where the great Gordon Gekko (Michael Douglas)is recruiting his next protege, Bud Fox (Charlie Sheen). Gekko is in his office where no expense has been spared right down to the cuban cigars on his desk. He get up on his soap box and begins pontificating to Fox. "The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bull*@%$!"

With a smirk, Gekko's continued with his indoctrination. "You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around pal, I've still got a lot to teach you." "Greed captures the essence of the evolutionary spirit," Gekko concluded.

Indulge me for one more example. One of my favorite movies was the Wizard of OZ. Yep, it is so metaphorically messaged besides it links to then Populist theory that I also utilize it to illustrate how we fall all so often for the smoke and mirror. Basically, I find the story to be an ingenious parable written by L. Frank Baum related to the effects of US Monetary policy on the American population. By the way, Baum was a shy and sickly guy who was also owned a newspaper, was a student of Shakespeare and the son of a oil tycoon.

In the Wizard of OZ Dorothy (representing American Values) was told that if she followed the yellow-brick road (which symbolizing the debate in the 1896 election to use gold as the standard for currency.) to the Emerald City (Washington DC) that she would be able to get to the great and powerful OZ ("0z" representing an ounce of gold) who would be able to send her back home, right. In the meantime on the road she met the Scarecrow (representing farmers) who wanted a brain, the tin man (the industrial worker) who wanted a heart, and the cowardly lion (representing Democratic presidential candidate Williams Jennings Bryan) that wanted some courage. Even Dorothy's shoes which were originally silver, representing the silver standard. Look at all the metaphoric symbolism.

Then when the group (Toto too) finally reach their destination (The Emerald City) they are gripped by fear because nobody has seen the wizard or even gone to his throne room. So there he was this big huge head with no body, red eyes a monstrous voice and it even spitted fire. They when Dorothy asked for the Wizard to help her get back to home the wizard conditionalized her request by telling Dorothy she had to kill the wicked witch of the west (President William McKinley). Of course, Dorothy got her wish to go back to Kansas and good ole Aunt EM through Glenda the Good witch (Grover Cleveland) but remember she had to give up the "golden cap." However what was also so intriguing was that eventually when we peeked behind the curtain, the Wizard of OZ was a fraud! He was just a regular man...but it was fear that gave him his power and influence. Sounds familiar?

To be honest folks, getting past the metaphors, and other cinematic similarities, we have some huge
problems to deal with in our country. Yes, the spotlight and mobs are all focused on AIG right now and maybe they should be. But if you really peep the wizard if the focus is on AIG you will find that the $135 million paid in bonuses pales in comparison to the $120 Billion AIG paid out to mostly European banks due to all the "credit default swaps" sold. What's a credit swap? Basically a credit default swap is insurance against a debt default. Now picture the magnitude of this product in the face of our current mortgage crisis.

As you know, Joseph Cassanos was the man behind the AIG debacle and was "retired" effective March 31, or 2008. Probably about the same time the retention bonuses were negotiated. The language regarding the bonuses did include mention that the bonuses could be withheld if fraud or a felony could be proven. But what you may not know is that Cassanos' golden parachute included a nine month contract for consulting services for $1 million per month.

I know what you are thinking folks. I can paraphrase your thoughts by coining another memorable quote from the movie Network, "I'm mad as hell and I'm not going to take it anymore." Well in that movie the character Howard Beale was speaking about change too. He just felt you had to get mad enough first. Not a problem, that seems to be the sentiment of Capitol Hill...right Barney? But the real revelation here is that our economy is now global and interlocked with emerging economies like china playing a big role. As further proof AIG not only operates in 50 states but 140 countries! So, could the real flaws be in a collapse of disciplines in the private markets? Maybe even more so the global economic model.

Is monetary policy enough to end this financial crisis? What about the proposed Obama budget that would literally add on 1 trillion dollars to our debt for the next decade? Did you also know that the Treasury is planning to buy up more toxic assets? Is the currently financial climate going to allow for the partnering of investors and the Feds giving the same groups responsible for this crisis an opportunity to make even more money? Just some food for thought!

AIG.....The Next Big Box Hit?

Greg Saunders (RE/MAX Around Atlanta) — Mon, 06 Apr 2009 10:30:34 -0500

Hey AR, Remember the scene from the classic 1983 movie with Al Pacino, "ScarFace" where the mob boss Frank Lopez (played by Robert Loggia) was bringing in the new guy Tony Montana? Big Frank told Tony with a vociferous voice, "never underestimate the extent of the other person's greed!" Wow, I can see Spielberg or Scorsese chomping at the bit waiting to see how things play out with AIG and the Feds. They are probably anticipating not only a huge movie blockbuster but more that likely a sequel to boot...Cha-Ching!

Blogging.....but not feeling any love from AR?

Greg Saunders (RE/MAX Around Atlanta) — Thu, 02 Apr 2009 01:02:12 -0500

Come on already....it's April you've been blogging consistently but you say you still aren't feeling any love on Active Rain? Don't worry, Keep Blogging!

I have to admit it...I felt the same way until just recently. Yeah, I've been diligently blogging for awhile now just like you. However, this last month, I really pushed myself and wrote 8 posts. Not only did I write 8 post but I wrote 8 very good posts. I have to tell you what happened as a result in the last few days is truly a testament to the fact that organically if you continue to add good content your blogging will pay off.

Let's see..on March 30th I decided to write my blog about the threat of the "April Fools Virus." Of course, this virus posed such a threat that there was a mass outpouring of news and information on the virus and how to protect your computer. Just the day before I watch the 60 Minute segment which gave a different slant on the virus and the hacks that are responsible for the development of these viruses. Wala! That was my inspiration and I began to do more research. I posted my piece on the 30th and immediately it began to get hits like crazy. To be exact, I received over 200 hits to my blog in just 2 days!

Stay with me now...As a result of all the activity to my blog, when I went to Yahoo Search (April 1st) and
plug in "Conficter Virus"my post was not only on the first page but in the first position! On Google I was amazingly on page 2 in the 4th position! Not only that but two other post entitled "AIG..Next Big Box Office Hit" (posted 3/23/09) and "Grammy-nomics: The Impact of Music on the US and Our Economy" (posted 2/9/09) also started getting a good deal of traffic. Now what you should know is that even with this high volume of traffic none of these post received more than 4 comments from the AR community. I've also never had one of my blogs featured...at least not yet!

Now I do have to give credit to Active Rainer Lisa Udy from Logan, Utah that introduced me to a way to find out who was reading my blogs; where they lived; what search engine was used; IP addresses; their actions, ect. Now I'm sure you have heard of google analytics and may have some idea of how it works. Well Lisa introduced me to Get Clicky (www.getclicky.com) and to boot it was absolutely free! Thank you again Lisa! To make a long story short I attached it to my AR blog and now I've become totally addicted to it. But for the first time, I feel in control and I can work on improving the performance of my blog.

So where am I going with this story? Right back to the basics. The difference between a good blog and a great one is...content! However, I take my blogging one step further through injecting humor, metaphors, music, television, and cinema similarities to help present material and situations in a way that people can comprehend, relate, consider, and hopefully perform further research to come to their own conclusions. Yes...sometime the material may be esoteric but I try and make my post informative because there is so much happening all around us that we don't understand. My style, although unique to most, has transcended my stint in Corporate America where I used the same tools to teach, mentor and prepare other for leadership and management roles. More than likely your style will be the product of your frame of reference. Don't worry newbies like wine.....it gets better with time.

Folks, there is no doubt that we have seen stark changes in the economy. In retrospect, the real estate industry is changing and evolving due to all the financial shifting and technological innovations. It almost seems like a changing of the guards. Further, probably what work yesterday, may not work the same today or even at all! Gone are the day of Realtors being just order-taking waiting for the phone to ring. Realtors who refuse to change and stick to their old business models will soon find out that the only thing certain is...CHANGE!

So, as you plan to write that next blog....choose your content carefully, do your own research, and be
sure to keep abreast of changes happening all around...especially in your market! Heck, you got quite
a few thousand resources right here at AR. Also, don't be ashamed to be you. The more you blog, the
better you'll get at it! Remember persistence pays $$$$$!!!!

So don't worry be happy folks....But most of all keep blogging!

Does The April Fool Virus Pose A Real Threat?

Greg Saunders (RE/MAX Around Atlanta) — Mon, 30 Mar 2009 10:00:15 -0500

Hey Peachtree City and AR friends, as you know April Fool's day is normally full of playful pranks, and plenty of tomfoolery but the prank on this April 1 is a real threat to millions of computers. Well, you may not have heard about it until recently on the news or 60 Minutes but a virus call Conficker C, threatens come out of dormancy and take over your computer on April Fools Day. The virus is said to be able to disabe all your security programs and then proceeding to steal all your personal information. In fact, CBS reported that it had a recent fight with this virus which took them 10 days to find and isolate. Does Conficker C pose a viable threat? All I can say is that everyone needs to at least be prepared.

How can this be you say? Well from what I heard the "worm" may be already on your system laying dormant in a Window file in an important system folder. It was reported that the "worm" spreads through malicious websites, unreliable downloads and infected USB drives. Once triggered, the virus will take over making it impossible for you to start you system even in safe mode or go to websites to get anti-virus software. What is even scarier is that now that your computer is vulnerable, it can now be controlled by the entity that created the virus.

CNN reported that this virus has infected between 5 to 10 million pc's!! Microsoft has a bounty of $250,000 out for anyone that can tackle the virus and located the creator. Don't take this warning lightly. It is believed that the first strand of Conficter was created out of a free function for security programs by MIT Computer Science professor, Dr. Ronald Rivest and has been around since 2008.

The biggest shock that I heard yesterday on 60 Minutes was that a huge number of "viruses" were created by gangs of hackers in...Russia. Not only that....the hackers were kids. The only thing that was even more astonishing than a 14 year-old kid resorting to this type of malicious behavior was that these hackers actually advertised their viruses openly on the web!

The last piece of information I want to send out to everyone is that although this virus may pose a very viable threat, there will be all kinds of vendors out there soliciting their anti- virus software that is probably bogus. That's right folks, hackers have found all kinds of ways not to make money. So check with Microsoft or an experienced software expert for more advice and information. The best of the best have been working on protecting us...Let's hope its in time!