Happy Holidays!

I will be enjoying the holiday season with my family and will start new blog posts right after the new year.

2010 will be a year of improvement in our careers, businesses, and projects.

• Are we ready for an improving economy?
• Are we positioned to take advantage of the demand for our services and/or products?
• Are we restructuring our methods of operation to use technology changes to our benefit?

I have always used the week between Christmas and the New Year to develop my business plan for the coming year. Business is generally slow and it gives us time to contemplate how to do what we do -- differently. Think "outside of the box" in developing your business plan. All too many will not change with the times or with the technology. We have incredible tools to use in promoting our businesses, services, and/or products. http://bit.ly/6PP1my View the slide show and consider some of the statements in your planning. Stay on the cutting edge since as a sole proprietor or small business owner we must compete with the big dogs or stay on the porch!.
We will do it!

Merry Christmas and Happy New Year to you and your family.

Due Diligence Report - Maps & Plans

Flood Plain Maps – The Federal Emergency Management Agency has posted the flood insurance rate maps on their website. By entering a property address, the flood map panel will be located for review. This map will illustrate the approximate floodway and may or may not include the floodplain elevation at cross sections depicted along the stream. The floodway is the stream channel and any adjacent areas that must be kept free from encroachments to allow the 1% annual chance of flood carried without an increase in elevation. A floodplain shown on a property will affect its development potential, increase permitting requirements, require significant design considerations and reduces the buildable area suitable for residential and non-residential uses.

Road Network Plan – Many communities prepare a comprehensive road network plan illustrating transportation links within a jurisdiction to accommodate future development. These road plans are anticipated road alignments generally locating road extensions, realignments or new roadway systems. The roadways provide a future transportation plan used by government in reviewing development plans. The local or county government will have a road alignment plan depicting the future road network serving future development. It is possible a future alignment will impact the development potential of a site by either accommodating the right-of-way in the design plans, improving offsite roads, or contributing to the traffic study for further analysis based on the development impact of the project. This plan may have the most significant impact on a project design and especially if it is overlook during the due diligence period.

This completes the section on maps and plans.

Due Diligence Report - Maps & Plans

I will finish the maps and plans section of the Due Diligence Report this week. If you find the "needle in a haystack", use the maps and plans section to contact local government and obtain all of the public information about the property. In Charlotte, NC, most of this information is online. Thus I can make an assessment of a site without leaving my office. The only information which is critical that I have to go to local government's office is for the existing water and sewer line locations. Complete all of this investigation before even considering a purchase.

In site analysis work, it is your job to find out all of the problems, all of the skeletons in the closet, and political baggage with the site. If you find problems, define the ramification of each. Many of the site constraints and solutions are associated with additional costs which are easy decisions. Either the project can absorb the additional cost or it can't. Since you are searching for the value, do not force the project to work. Walk away and look for another parcel. In today's market, you should have plenty of low priced homes with land to consider.

Wetland Inventory Maps – many states have used the soil conservation maps or GIS maps to overlay wetland areas and jurisdictional streams for delineating environmentally sensitive areas. This illustration is not precise. However, in evaluating the development potential of property, these maps will provide guidance on the location and size of area that must be not be disturbed and thus not considered as buildable area. It has been said that most of the good property has been developed so that the remaining land most likely will be impacted by wetlands or jurisdictional streams. The state environmental department would be the agency to contact for copies of the wetland maps. Compare the wetland areas or jurisdictional stream locations with the soils map. The soils in the area of the wetlands or streams should be classified as unsuitable soils for construction activities.

Job Searching in 2010

Although I am not an expert, I know a well structured cover letter and resume are essential in the job search process. I am currently assisting over thirty individuals in their job search in Charlotte. The good – it seems job opportunities are on the increase; the bad - the unemployment rate remains above 10% and is expected to remain constant through 2010. There will still be too many people after too few job openings. I will be sending the following ideas to my connections that are seeking new job opportunities. Note: this information is a summary from posts by recruiters, senior managers, and blogs.

If you are applying for a job, research the company on LinkedIn or other networking sites for employee names and positions – especially in the HR department. This is easy to do on LinkedIn. Find out what groups they (HR or Managers in the area of the position opening) have joined and determine if you have a degree of contact. Networking is the second best way to get your foot in the door. The first is a personal contact reference/recommendation. Use LinkedIn to forge alliances that will help you with your job search. Also, LinkedIn groups have a job post tab and there is an advanced job search method to narrow the search criteria. Submitting your resume over the internet seems like it goes into a black hole to never be seen again. Remember, the HR staff will be reviewing literally hundreds of resumes for a job opening – primarily submitted through the internet. If any connections can be made through social networking, your chances for an interview are enhanced. I would suggest following recruiter blogs for tips and ideas but until then, the following are tips to consider:


1. Title of your email is critical. List the title of the position you are applying for and your name.
2. Your Cover letter should not be an attachment. It should be in the body of the email.
3. Customize your cover letter to the specific job opportunity. Do not use a generic cover letter.
4. Review the job posting for relevant key words that should be used within your resume.
5. Specific key words should also be used in your cover letter.
6. Customize your resume to the position you are seeking.
7. In lieu of an objective, highlight your experience suited to the job in one line.
8. In my opinion from reviewing many resumes and selecting applicants for interviews, I gravitated to the concise and precise resume.
9. After submitting your resume on the internet, follow-up with a specific email to HR or hiring manager – not asking if they received your resume but to emphasize why they should hire you for the job. Be specific, short and to the point.
10. If you have a list of projects, publications, and/or presentation essential to your job search, a separate attachment may be better than including the information with your resume.

I am sure we all have good tips to pass along to others. Please add your comments to this post and share your thoughts. It is up to us to make 2010 a better year for us all.

Congress Redefining “Waters of the United States”

Link to the following article from Clean Water Action. http://www.cleanwateraction.org/mediakit/overview-clean-water-restoration-act-2009
This article provides an overview of the issue and the proposed legislation.Link to the following article about the legislative process slated for early in 2010.
http://www.washingtontimes.com/news/2009/dec/15/house-bill-extends-epa-reach-into-wetlands/

from the article, previous legislation …..“would allow the Environmental Protection Agency, in conjunction with the Army Corps of Engineers, to protect all of the nation's waterways. EPA polices only "navigable" waters, those large enough for ship traffic. Supporters of the measure say two Supreme Court cases significantly limited the scope of the 1972 Clean Water Act. The water bill faces an uncertain future in the House. When Mr. Oberstar introduced his bill in 2007, it had 176 Democratic co-sponsors.
The bill, if enacted, would give EPA authority over bodies of water as small as creeks and ditches along the roadside.”
The definition of “Waters of the United States” has been open for interpretation since the 1972 Clean Water Act. The new legislation is called “Clean Water Restoration Act”.

If this passes, the Federal Government will have a significant role in the permitting of any new development project, of any kind, in the future. Land will become non-buildable and redevelopment efforts centered at urban cores will be the result.

Federal Reserve Extends Low Interest Rates

Link to article about the Federal Reserve’s vote to maintain the current rates.

http://cl.exct.net/?qs=eb77745d1f58ae18f7f5e94facb7b0293485d800996869c211b548c7490b0c7a

Highlights of the article:

“Federal Reserve pledges to keeping rates low for an extended period”

Economy is likely “to remain weak for some time”

Fed’s key interest rate has remained near zero since December 2008!

The key is to watch prices in all goods and services. If you start seeing/experiencing increases in prices from milk to real estate, the Federal Reserve will have pressure to increase their rates to control inflation. For real estate, this will ignite buyers to buy since interest rates directly affect the mortgage amount someone will qualify for. I guess the next benchmark is early 2010. Keep looking for the needle in the haystack --- a house with property which can be subdivided at the lowest price possible and hold out for a house built after 2000 to minimize renovation costs for either reselling after subdivision or use as a rental. If you find a property and wish to have fee advice on the development potential, please contact me.

Peak of the Week - Twitter

The following is a summary of the information on Twitter.

Twitter is an instantaneous blog sending short comments to a following of people which can retweet your entry to others – eventually going viral

Tweet specific information that followers will find useful or interesting.

Use Tweeter consistently to stay on the ”front page”

Twitter Starts Testing Features for Businesses http://bit.ly/5kUArZ

More details over at the Twitter blog - http://bit.ly/4nkilj

Social Media

A short Social Networking article worth reading.
http://bit.ly/656mhh

I see the benefits and importance of using the various social media networking sites to generate leads and/or establish professional connections during the down economy. As the economy improves, your efforts will provide you with a much quicker recovery by establishing your social networking mode of operations - no matter what your business.

As an example, I only started with LinkedIn late last fall. I started my Land Development Group in late January 2009 and there are now over 1,100 members in the group. My thought was to create the group and hopefully have a few hundred group members. The result only tells me that people with like minds are seeking connections to assist others. My 2010 goals in social media include:
a. continue to promote the Land Development group
b. launch an eAssociation in early 2010
c. generate members for the Charlotte Real Estate subgroup
d. expand followers on Twitter - I think there is potential in this forum- still investigating
e. Facebook - I am not sure about the professional/business applications-keep open mind

To achieve my professional goals in 2010, I will:

Prepare Relentlessly

Live in a state of Gratitude

Invest in Others

US Debt Clock

Link on to USDebtClock.org – this provides a dramatic illustration of the spending habits of Congress.

http://www.usdebtclock.org/#

Enough said.

Good News!

Consumer Confidence up 155% over last year

http://cl.exct.net/?qs=f8aa865fbb4eb42c29622a8c7cd3f5e3ecb9290de34aa1861fac430112aa859c


California NEW home market up for 1st time in 3-years

http://cl.exct.net/?qs=f8aa865fbb4eb42ca0e863a0c6b4cea158fa6d69e1abe7a90547a09137c47946

Both articles can be found in Business Journal publications. Both represent positive news but which if any of these short articles would you consider good news?

Mortgage Calculator

The mortgage calculator is an excel spreadsheet which allows you to change the parameters i.e. sales price. The highlighted column is for a $160,000 selling price.

Remember to factor in the Federal Tax Credit for first time homebuyers ($8,000) and for repeat buyers ($6,500) into the equation. You can change the sales price to meet your needs and you can calculate the monthly mortgage payment. The highlighted FHA column shows a bottom line of cash required at less than the Federal Tax Credit of $8,000. With a sellers contribution to closing costs which is common in today's market, the first time homebuyer would be able to buy this home with little out of pocket cash.

The bottom line of the illustration is that a first time homebuyers could purchase a $160,000 home with $1,000 cash, seller contribution, and the Federal Tax Credit. The monthly mortgage payment would be estimated at $1,000 per month. A $160,000 house in Charlotte would be a 2-story, 3-bedroom, 2.5 bath home with a 2-car garage. And, built in 2006!

This spread sheet is to be used as a guide since interest rates and closing costs will vary and may change daily. Contact your mortgage representative to assist you with interest rates and exact closing costs associated with your housing goals.

You should contact your local Realtor® to assist you on the available inventory in your market. For the Charlotte, NC region please let me know your housing goals and criteria and I will be glad to provide you with a quick search of the MLS – no obligation or commitment.

Another Round of Mortgage Problems?

If a significant number of people stop making payments on their homes which the mortgage amount is greater than the value of their home, that is going to put us into another tail-spin;

which is going to put more pressure on the already-weakened banks,

who are going to cut back even more on lending,

which is going to put more pressure on the economy,

which is going to depress the job market,

and put more pressure on the housing market,

leading to more delinquencies.

And if the economy gets stuck in the above described loop, will the federal government have the resources to come to the rescue?
It's great the financial markets have bounced back and the economy is slowly growing again, is it? But the ongoing problems in the housing market could still result in a “W” recession. Housing has always led us from the valley of a recession. Just not yet. What are your opinions?
Source: Numerous Internet Blogs and Articles

Social Media Information

Use the following link to a variety of articles and info pieces on social networking. Pick and use those ideas that can assist you achieve your networking goals. A small business is an entrepreneur with one client.

Mashable’s Social Media Guide for Small Businesses http://bit.ly/7W6CzX

Recession Stats - Housing Sector

I prepared the above chart for a presentation in 2008 and updated some of the current stats over the weekend. Housing starts have always been an important indicator in the health of the economy. Many of the factors are positive including a low prime rate with low mortgage rates. An ever increasing population including family formations. Draw your own conclusions but the current recession is depressing housing starts. If my memory serves me correctly, coming out of the '81 recession, we had shortages in materials, labor and lots which created higher prices. I think we will again have material shortages since most manufacturers are cutting back on their inventories and the labor force has left housing construction. And the lot inventory is based on higher land cost which doesn't at all translate into lower prices. My point, real estate is a good investment alternative strategy - today.

A List of Business & Professional Social Networking Sites

The following social networking sites are listed for your future reference as you connect to those of like mind and interest. Invest in others.

AdvisorGarage – It is an online directory of advisers who are willing to assist budding entrepreneurs.
ArtBreak – ArtBreak is an artist community for sharing and selling artwork.
Blogtronix – Blogtronix promotes corporate social networking, enterprise 2.0 and wikis.
Commutal – Commutal is an online sharing platform for businesses to create media rooms, participate in domestic groups and share event happenings with each other.
CompanyLoop – An online co-working community for global businesses.
ConnectBeam – Connectbeam offers social networking specially designed for corporate users.
DoMyStuff – A good site for working professionals looking to find online assistants.
Doostang – An invite only career community for professionals.
Fast Pitch – It is a quickly growing business networking community in corporate world. Its online provides users with a one-stop shop network to market their business.

iKarma Inc. – iKarma is a specialist in providing customer feedback for organizations and professionals.
ImageKind – ImageKind is a community and marketplace for professional artists.
Jambo – Jambo lets you connect with your neighborhood friends.
Jigsaw – An online business card networking directory for users to establish contacts with each other. Each business card is listed with an email id and a contact number.
Konnects – Konnects enables members to create their own professional networking communities.
Lawyrs – A professional social networking community for lawyers.
Linkedin( ) – LinkedIn is a professional social networking website for business users, one of the most popular such sites out there. Some aspects of it are free, but many are paid.
mediabistro.com – mediabistro.com is for professionals in content or creative industry.
Pairup.com – Pairup connects business travelers assisting them to travel together.
Ryze.com – A site for establishing new connections and growing networks. Connections for jobs, building career and making sales.
Spoke.com – Spoke offers access to business network of over 40 million people worldwide.
Visible Path – Visible Path helps organizations to integrate social networking into their existing tools.
WebCrossing Neighbors – It provides a private label social network with personal spaces and user groups.
XING( ) – XING is a networking directory of business contacts powering relationships between business professionals allowing users to connect with each other.
List of Sites. SOURCE: Mashable – The Social Media Guide

A 3-Point Strategy for success in 2010

Innovation – we must individually create innovative business strategies defining new ways to promote and market our expertise. The new norm for ANY business has or will change during 2010 because of the social media phenomenon. Either spend the time to stay current with technological change or stay on the sidelines. Become proficient in LinkedIn, Twitter, Facebook and start a blog. It will take time to fully understand the benefit, value and capabilities of these sites. So start now and use the networking tools innovatively! There is still time but remember to give rather than take; lead rather than follow; and act rather than react.

Reinvent – each of us will need to reinvent the wheel regardless of profession, business, trade or hobby! Do not rest in comfort but discover new ways to do what you have been doing for many years. Use December and January to prepare a business plan with reinvented tools of trade.

Rebrand – change your image, your approach and your goals to match your reinvented tools of the trade marketed innovatively through social networking.

Why? Again from someone experiencing my fourth recession, when the economy starts to recover, the recovery has been swift and those on the leading edge benefit and those on the sidelines will be in a catch-up mode. This recession is different than the others so our positioning must not be blogged down in malaise. Even if this recovery may not be swift, don’t be swayed away from the need to do what you do - differently in 2010.

Peak of the Week

Wednesday is the peak of the week and it is my intention to post topics of interest for the week past or take a peek at where we are headed.
Today’s Interest Rate is 4.5%; FHA Down Payment is 3.5%. Federal Gov’t will give you $8,000 as a first time buyer or $6,500 for a repeat buyer and the inventory of homes on the market – at any price range is at an all time high!
What are people waiting for? More foreclosures? More short sales? Prices to drop further? Don’t have the down payment? Can’t make a decision to buy or sell a home?

As someone that has experienced four recessions – two of which as an executive for large builder-developers, the real estate climate to buy WILL NOT get any better. Jumping on the real estate band wagon now to gain appreciation in your home in future years makes sense. The fears of what may happen in the future should not be our motto.

Invest in others! Contact me today and I will be more than glad to assist you with your real estate questions, concerns, issues, etc. No obligation and no cost. Use my 35 years of real estate experience to your advantage. Post your thoughts. If not now – when?

Have you ever sent an email to the wrong email address?

A lesson to be learned from typing the wrong email address!

A Minneapolis couple decided to go to Florida to thaw out during a particularly icy winter. They planned to stay at the same hotel where they spent their honeymoon 20 years earlier. Because of hectic schedules, it was difficult to coordinate their travel schedules. So the husband left Minnesota and flew to Florida on Thursday, with his wife flying down the following day.

The husband checked into the hotel. There was a computer in his room, so he decided to send an email to his wife. However, he accidentally left out one letter in her email address, and without realizing his error, sent the email.

Meanwhile, somewhere in Houston, a widow had just returned home from her husband’s funeral. He was a minister who was called home to glory following a heart attack. The widow decided to check her email expecting messages from relatives and friends.

After reading the first message, she screamed and fainted. The widow’s son rushed into the room, found his mother on the floor, and saw the computer screen which read:

To: My Loving Wife
Subject: I Have Arrived
Date: October 16, 2008

I know you’re surprised to hear from me. They have computers here now and you are allowed to send emails to your loved ones.

I have just arrived and have been checked in. I see that everything has been prepared for your arrival tomorrow. Looking forward to seeing you then!

Hope your journey is as uneventful as mine was.

P.S. Sure is freaking hot down here!


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