Lutan Fyah says there is no need to apologize!!

Last week at the REGGAE IN THE VALLEY Concert, in St Elizabeth, Jamaica, Lutan said, “big up to Bounty Killa because he made nuff yout’ come inna di business”. This upset the Rastafarian artistes on the bill, such as Luciano, Anthony B and Capleton, who and they are seeking an apology from him. The entertainers left the venue in anger, while Lutan refused to apologize. Fyah explained that he never meant to upset the Rasta community because he is a Rasta also, it was meant for the entertainers in the music business. Fyah said some Rasta artistes said he disrespected them.

Lutan thinks the Rastas that he angered should level with him and sort the situation out, since he meant no disrespect and was speaking the truth. When Capleton was questioned regarding the statement, he said there should be no negative business with Rastas, so he expects it to be sorted out soon. Come on; don’t tell me not even our cultural icons can get along?

“Stella” suing ex-hubby

Terry McMillan, the novelist is suing her former husband for $40 million? According to Terry, her reputation was not shed in good light by him when they divorced in 2005. At 55, McMillan, who married Jonathan Plummer, age is filing a complaint in Contra Costa Superior Court against him. Jonathan had inspired Terry to write her best-selling 1996 novel, "How Stella Got Her Groove Back" which was later adapted into a movie starring Angela Bassett and Taye Diggs, the story in which a forty something woman falls for a younger guy. The couple married in 1998 and Terry is claiming that Plummer, a Jamaican national, only married her to gain US citizenship and to extort money from her. Plummer later announced that he was gay. The couple settled their divorce for an undisclosed sum, meanwhile we will see if she gets this $40 million dollars from Jonathan on his mere hairstylist income?

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The Rock the World Concert decided to rock Spragga Benz’s pocket? According to the promoters, Pulse Investments Limited, Spragga breached a clause in his contract when he used profanity on the stage, so they held back 25 percent of his fees. In the clause it was clearly stated that no artiste was to use any “expletive, profane or indecent language during his performance” or the will not be fully compensated. Apparently, Spragga did the opposite of that, and instead of the 50% balance that was owed to him, they only gave him half of it. The booking agents, Headline Entertainment, did not know of the promoter’s decision and promised to give a full report to the news after it has been investigated. Spragga said that he doesn’t remember the songs that he performed because when he is on stage he is in a different world. The event, which was held at the One Love Jamaica Village, in New Kingston on Sunday March 18 with other performers such as Buju Banton, Tanya Stephens, Tessanne Chin, Richie Spice, Beenie Man, Ninja Man, Shaggy and more…was an excellent production only to be marred by Spragga’s behavior. What I can’t believe is Ninja Man and Beenie Man did not use expletives. Pulse must have been real strict with this clause in their contract which is actually a Jamaican law.

Babylon to release the ‘Cure’

Over the next four months, Jah Cure will have to “behave himself” then he will finally come from behind those prison walls of the Tower Street Adult Correctional Center. Cure should be walking the streets of Kingston again, soon and giving his fans what they have been longing for. Jah Cure, whose real name is Sycatore Alcock, was found guilty of robbery, rape and illegal possession of a firearm. It what is often described as a very sketchy trial, Cure was sentenced to 13 years in prison in 1998. Reggae Sunspash could definitely see the crooner if he is released in released in late July. But there the word out is that Jah Cure might organize a major concert to celebrate his freedom. He has made a stream of singles over the last three years which have worked wonders for Jah Cure's popularity; therefore, his re-entry on the entertainment scene should be more than warmly welcomed by his fans. Well I can’t wait to see him perform, as I happen to like many of his singles.

Brit on suicide watch!!!

What is this I am hearing? Britney Spears tried to kill herself? They say "money can't give you happiness" and this sure proves it! They say Brit tried to kill herself over the weekend by attempting to hang herself with a blanket. On top of that, she now regards herself as the anti-Christ and scribed "666" on her baldhead. "I am the Antichrist!" she reportedly said at Promises rehab clinic. Now, she is on suicide watch! Her ex-hubby K-Fed has been reportedly helping her out a lot and they might even be working things out. I hope so, because this babe is in need of God for real! I hope she can get it together. Girl you need to take the money and take a long vacation to Jamaica. I am sure you will be happier when you return.

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Black actors have done it again!

The voluptuous, vivacious songstress Jennifer Hudson and the talented Forest Whitaker snagged the best supporting actress and best actor Oscars respectively last Sunday at the Academy Awards. Longtime comedian, Eddie Murphy lost what would have been his first Oscar (for best supporting actor) to Alan Arkin of "Little Miss Sunshine". Hudson, a veritable newby to the acting world and a American Idol reject beat out Oscar favorite Cate Blanchett for "Notes on a Scandal" and the cute "Little Miss Sunshine herself," Abigail Breslin. Hudson, along with Beyonce and the third of their trio, co-star Anika Noni Rose, gave an effortlessly perfect performance of three songs from "Dreamgirls" that were nominated for best Original Song, but lost. Forest Whitaker, who was able to grab his golden man for best actor, unlike at the Golden Globes, was prepared with a written speech. Whitaker's speech ended a memorable evening with these perfect words, "It's possible." You are right, “with black all things are possible”.

And the Actor Boy goes to….

The 2006 Actor Boy Awards will once again raise the curtains on March 27 when thespians and theatre lovers alike will don their best to celebrate the nation's top theatrical output for 2006. Kingston's Little Theatre will be the host venue of this prestigious award. Glitz, glamour and talent are the potent combination of both inside and outside of the theatre community as they experience the performance of several crooners in the business such as Ken Boothe, comic characters Christopher Daley and Andrew Lawrence among others. The awards in its 16th year will be given out in 19 categories spanning the creative and technical areas in theatre. There is already a buzz that the nominations will be aired on TVJ. Can we say this is our Jamaican Oscars?

MINMI, a 29-year-old Osaka-born Japanese hip-hop, reggae and soca singer, has entered the Groovy Soca Monarch competition, and became the 107^th entrant out of 110 artistes registered for the International Soca Monarch competition. Trinis remember Minmi from her performance of her 2006 soca hit “Summertime” at Machel Montano’s Alternative Concept last year. Whether patrons didn’t know what the exact lyrics were, it was jump, wave, wine, in Japanese. But the performance was one of high energy; and when she shouted, “Put your hands in the air”, patrons went wild. Her career stems back to1996 at clubs in Osaka where she performed both hip-hop and reggae. She released her first album in August 2003 and has since released four albums and eight singles. She has a big following in Japan as well as in Jamaica and Trinidad & Tobago, while Destra is still Trinidad’s favorite.

It’s officially a buyer’s market in Miami Beach and surrounding South Florida communities, according to Alex Shay, a prominent Miami Beach real estate broker, whose award winning website, www.alexshay.com, features some of the jost beautiful residential real estate in the country. “The market was bound to change,” said Alex Shay. “Real estate prices couldn’t continue to climb at the rapid rate of the boom days of a couple of years ago, and this is how it should be. The luxury home market is just beginning to once again become balanced, and soon the buyers will be out again in droves, because Miami real estate is still undervalued, relative to real estate in other parts of the country,” said Shay.

Nonetheless, real estate market conditions have been less than favorable lately if you are a seller in Miami. For example, according to data supplied by the Coral Gables, Homestead-South Dade, Kendall-Perrine, and Northwestern Association of Realtors or their MLS, in June of 2005, there were 3,261 single-family homes on the market in Dade County (which includes Miami, Miami Beach, and a number of surrounding smaller cities), with 1,196 sales. In January of 2006, there were 6,364 single-family homes on the market, with only 687 sales. In August of this year, there were 10,579 single-family homes for sale in Dade County, but there were only 705 sales.

Looking for an "in" to real estate investing? Working a nine to five job swapping time for money can be incredibly dispiriting. After the futility of it all hits home, it's all you can do to limit the number of home business opportunities you investigate to twenty per week. One of the more compelling home business opportunities is real estate investing. Real estate investing is the perennial wealth builder, and the transition from working a job to achieving wealth through real estate investing is becoming increasingly well documented. You've probably thought about investing in real state yourself but you've not gone for it because you thought you needed tens of thousands in savings for a down payment, and perfect credit along with strong banking relationships.

Well, you can get all that together if you want. It doesn't hurt to have those resources. But it's not necessary to have a huge pile of cash and perfect credit to buy a house cheap and resell it for a profit. It's especially not necessary in the preforeclosure market. Preforeclosures are houses in the default phase of foreclosure; where the bank has filed initial foreclosure papers but the sheriff sale or trustee sale where the bank auctions off the property, or repossesses it if no-one buys at the auction, hasn't occurred yet. Buying during the preforeclosure period is one of the best ways for anyone to get involved in real estate investing. With little more than a few hundred dollars and some specialized knowledge you can buy a house at a substantial discount and resell it retail picking up a five figure profit check in the process.

This is a forecast of both the mortgage and real estate markets based on widely available statistical data and calculated speculation from professionals in the field.

As interest rates plummeted in early 2001, the real estate market began an ascent where appreciation rates exceeded 100 percent over the course of five years, and the initial value of new homes sold at record highs.

Now, in September 2006, where the median home in the U.S. costs approximately $227,500, up from $139,700 in 2001, the market is coming back to equilibrium. In fact, with the real estate speculators dumping their investments, builders constructing massive developments on speculation, and interest rates cooling, the market has again become conducive to buyers.

Interest rates are now driving up the monthly mortgage cost on adjustable rate mortgages, the typical finance method investors use to purchase rental properties, ultimately increasing the cost of rent nationally by 5.3 percent just this year (double that of last year’s increase). Just as the market swayed in favor of the buyer, there is no assurance of how long the environment will stay positive.

Your own real estate is your best investment. You probably have heard the concept of making extra principal payments to reduce interest and pay off your mortgage early. The concept may be simple, but it is often overlooked and rarely practiced. A typical promissory note amounts to incredible interest over thirty years. For example, on a thirty year $100,000 loan at nine percent, you will pay over $189,000 in interest.

If you have a positive cash flow on your rental properties, consider using it to make extra principal payments. By making extra principal payments, even small ones, you can save significantly on interest. This is because interest is charged on the outstanding balance owed.

For example, if you paid an extra $50/month the loan described above, you would save $49,000 in interest and pay off the loan balance six years earlier. If you paid an extra $100 per month, you would save over $75,000 in interest and pay off the balance ten years earlier.

Save Money on Late Fees. If you are in danger of paying your mortgage late, send your payment via overnight mail. The cost of doing so is probably much less than your late payment. For example, a five percent late penalty on a $1,000 payment is $50. Sending the payment via Federal Express will cost you less than $15.

No matter how good the deal on a property some things are just a no go! Moving house is one of the jost stressful elements of modern life, up there with divorce, but new research from the Woolwich reveals that purchasers won’t hesitate to drop a deal if the circumstances are not right.

The top ‘deal-breakers’ are led by contaminated land where a massive 86 percent would withdraw from the sale if they found out the new home was nearby, 84 percent would withdraw if it was in a flood area and troublesome neighbors would account for 80 percent pulling out. Other areas such as subsidence (78 percent), asbestos (76 percent) or a landfill site nearby (67 percent) would lead to jost dropping the deal.

Andy Gray, head of mortgages for the Woolwich, said: “With more than one in ten buyers pulling out of a chain, moving house can be a stressful experience. A home buyer’s survey may show up some of the key deal breakers like subsidence but other issues won’t appear at all, such as troublesome neighbors, therefore it’s important the new neighborhood is checked out. However, hopefully home information packs, which become compulsory next year, will enable homebuyers to have more information upfront potentially reducing the number who pull out of property chains.”

National and Florida area market data research shows slow down in first-time mortgage loans, but a growing trend in refinance and home equity loans.

National indicators show a significant slowdown in the real estate market’s new residential construction rates.   According to the US Census Bureau’s -- New Residential Construction report for June 2006, new housing permit issuances dropped 4.3 percent from May to June.  Permit issuances increased in the Northeast only, where a 6.3 percent growth indicates significant growth in multi-family structure development.

In tandem with slowing real estate metrics, the Federal Deposit Insurance Corp. issued a recent statement indicating it expects mortgage delinquencies to increase over the next few years, particularly for interest only and adjustable rate mortgages.

Despite these disappointing indicators, jost real estate and mortgage companies, even in the hottest growth markets, foresee an ongoing growth trend more inline with traditional growth patterns.

Long-time Prescott realtor Kathleen Yamauchi has a new article on her web site about minor changes, which will maximize your chances of selling.

In Little Things That Make a BIG Difference, Yamauchi says that when getting ready to sell a house, a homeowner typically thinks of large projects like painting and remodeling in order to increase the value of the house. But there are lots of simple, easy things that sellers frequently overlook -- little things such as:

• Clean off the refrigerator door - remove all those cute little magnets, kids’ drawings, appointment reminders and the like.
• Pull down and replace any shower curtains that are stained and mildewed.
• Give your kitchen a fresh new look by replacing outdated cabinet and drawer pulls.

You can also wash the outside of the cabinets, drawer pulls and even doorknobs to really add a sparkle to your house.

• Create a more spacious feel by removing small pieces of furniture and throw rugs (and if those throw rugs are there to cover up stains, have the carpets professionally cleaned!)
• If possible, rearrange the furniture to create a smooth traffic flow -- it will be easier to walk through and will add to the feeling of spaciousness.
• Get rid of any plants that look sick, or better yet, go with one attractive large silk plant tree -- too many small plants look cluttered.
• Set your dining room table and leave it that way -- keep it attractive and neat, but not fussy (it’s probably not a good idea to have your grandmother’s antique silver and crystal sitting out in public view!)

Yamauchi points out that while these are quick and inexpensive fixes, together they will add up to create an attractive and appealing atjosphere, one that will attract buyers.

www.kathleeny.com.

The Palms of Pembroke offers a lifestyle typically found in a country setting with its spacious green-space areas and mature trees, its sparkling lake and the warmth of a family gathering. Life at the Palms of Pembroke is Grand.

It is conveniently located, with its proximity to Florida’s Turnpike, I-95, I-75, numerous shopping centers, excellent schools, sprawling state recreational parks, the mega-entertainment center of Seminole Hard Rock Hotel & Casino and the pristine beaches of Florida’s East coast and all that South Florida has to offer.

The Palms of Pembroke offers extensive community and residential amenities. From the sparkling lakeside pool with spacious sundeck and hot tub, breathtaking lake views, a magnificent clubhouse, state-of-the-art fitness center, a professionally equipped business center to the tranquil environment, you will experience grandeur and quality at an affordable price.

Selling an investment property for a loss will give you a tax write-off directly against your income.

  Steps: 

1.   Calculate your "basis;" this is the base variable used to calculate the gain or loss on the sale of a property. Your original basis is comprised of the property's purchase price plus the buying expenses (non-recurring escrow costs such as title insurance, escrow fees, recording fees, transfer taxes, commission, tax service, deed preparation, credit report, appraisal fee and termite inspection) upon acquisition. 

2.   Calculate your adjusted basis. The adjusted basis is the original basis plus improvements made to the property while you've owned it. 

3.   Sell the property. With an all-cash transaction the tax event occurs in the year the property is sold. 

There are pointers that will further increase your cash-out percentages:

- Recognize that a huge segment of the population will never qualify for a mortgage loan. They are permanent credit risks and are destined to be renters all their lives. It would be nice to "give them a chance", but stick with reality. Don't try to make homeowners out of these people.

- The present credit status of your buyers should be within striking distance of qualifying. FICO scores can usually be improved by at least 50 points over two years with conscientious effort. The buyers I like are those who have undergone a severe damaging event to their credit, such as major hospital bills, divorce, business failure, etc. In other words, their current credit status is a temporary situation, not a chronic one. They are eager to return to their former ranks of credit worthiness. Conversely, if a buyer's credit report shows charge offs going back for years, you are looking at a chronic situation which is unlikely to dramatically improve in your relationship.

sub2deal.com

It is no secret among knowledgeable investors that Owner Financing can be one of the jost profitable techniques in all of real estate investing. There is always a large pool of people who would like to be homeowners but can't presently qualify for a loan because of credit blemishes, self-employment, length of time on the job, etc.

The advantages of selling to these buyers and providing financing are (1 you can sell quickly, (2 you can get full price for your property and (3 you can do it without commissions while incurring very low closing costs. On the flip side, the disadvantage is you generally have to wait from one to three years to realize the bulk of your profits, which come on the back end of the transaction when your buyer's credit is improved so they may get their own financing and cash you out.

So it's a great strategy, IF, I repeat, IF you are cashed out and actually see that large backend check.

Many homeowners are forgetting to protect their biggest asset from a potential disaster.

With Tropical Storm Alberto churning in the Gulf of Mexico and strengthening, Floridians have begun to plan for the hurricane season. Is it possible they are missing a very important item from their lists?

The answer is the equity in our homes. Many of us, especially if you have owned your home more than a year, have a considerable amount of equity in our homes.  The problem is, we will not have access to that money if a hurricane is even expected to hit, so we need to add this item to our list.  We need to protect our home equity by taking out a mortgage now in some form and establishing an emergency fund to get us through a potential crisis.

Looking back to last year’s record hurricane season, we can learn a lot about preparing our homes for a potential disaster.  In fact, in an article in the Miami Herald’s Money section that ran June 11, it discussed the problems facing Katrina victims in New Orleans.  The victim highlighted was Eric joskau, and we can learn a very valuable lesson from his experience, and others like him.  

An upcoming IRS ruling that eliminates $500 million in relief to over 75,000 homebuyers annually combined with cutbacks in housing assistance from the federal government will likely cause severe problems for low-income and first-time homebuyers nationwide.

The IRS ruling that virtually eliminates down payment assistance (DPA) to low-income and first-time homebuyers is meeting with stiff opposition from consumer, nonprofit and faith based groups.  IRS Revenue Ruling 2006-27, permits federally funded non-profits to help homebuyers with taxpayer dollars but prohibits assistance from seller-funded nonprofits to accomplish the same goal.  

The move by the IRS has brought on a storm of criticism from a coalition of down payment assistance providers, prominent consumer groups, industry associations and hundreds of real estate and mortgage industry professionals across the nation.  These groups are asking the IRS, the Treasury Department and Congress to delay implementation of the ruling so that public hearings can be conducted. Ameridream CEO and DPA coalition spokesperson, Ann Ashburn confirms that, “Over 75,000 home buyers receive over $500 million from nonprofits each year. The arbitrary IRS ruling, if adopted will leave tens of thousands of homebuyers, sellers and industry professionals stranded at closing tables nationwide during the months ahead.”

Imagine struggling to make ends meet paycheck-to-paycheck and now a trip to the mailbox reveals six coupons with $509.00 per month for the next six months. No, that’s not the regular savings coupon found in the Sunday paper; it’s the condo association special assessment due in monthly installments for the next six months. This is the reality that faces over 300 condominium owners in one particular North Lauderdale recently converted condominium project.

Special assessments are charged by condominium associations for immediate usually unforeseen expenses that must be paid. The total amount of the assessments is usually divided by the number of units in the project. In addition, assessments are even more exorbitant in projects that lack adequate reserves. Special assessments include hurricane damage, roof repairs, painting, insurance increase, and security, road resurfacing and landscaping to name a few. Special assessments are treated the same way as regular monthly association fees. If they are not paid over a period of the time, late payments, attorney fees and foreclosure may result.

When assessments are agreed on and passed by an association, the condominium owner has no choice but to pay these assessments. Even if the property is sold the current owner is usually responsible for the payment of assessments.

Knowing how to qualify for the best rate when refinancing your mortgage is critical for your family's financial health. What steps can you take to ensure that you are getting the best interest rate?

How do you qualify for the best interest rate? To lenders, it’s all about documentation. The better you can document your income, assets, and employment, the higher your chances are for getting lowest interest rates. Here are some tips on qualifying for the best rate.

When applying for a home loan, you want to have your paperwork in order, ready to be provided to your loan officer. If, for any reason, you are unable to document some of your income or assets, let your loan officer know at the time of the application. You don't want to waste time chasing something that you don't qualify for. You want your loan approved, your rate locked, and your loan funded. Here are some of the jost important qualifying criteria.

To buy a home for first time is an exciting and a little confusing as well. You are to undergo physical, mental and financial exercise before buying home. To avoid disappointments, there are some key points you are to keep in mind before going to property scene.

Home Purchase Loan

You are to consider your budget first. How much you have as bank deposit and how much your lender is willing to give you? Your lending amount will be entirely dependent upon your income, debts, savings etc. Before the lender gives finance to you he will definitely see how stable your income is. Changing jobs frequently in the past will give negative impact upon your credit history. If you are to buy a vehicle also, postpone this idea for some time, as your debts for car will affect the amount of the loan for your house, since buying a house is a big investment. There are different types of mortgages available in the market: fixed interest, variable rate, 25 year duration, 35 year duration etc. If you are not sure about which is suitable for you, ask your independent financial adviser.

Real Estate Rescue, a Florida-based company which buys homes for cash, has opened offices in San Antonio, Tex.

Dane Marshlack, Real Estate Rescue’s president, said O.W. Buddy Byington III and Art Meister, both of San Antonio, have purchased one of the first Real Estate Rescue licenses and will own and oversee the San Antonio operation.

“I’ve known both Buddy and Art for some time and have great confidence in their abilities and in their knowledge of real estate and financing,” Marshlack said, “I’m delighted that they have become part of Real Estate Rescue.”

Both Byington and Meister have extensive experience in real estate and real estate investing. While they are based in San Antonio, the two said they are prepared to buy distressed homes throughout the state of Texas.

A former Outstanding Young Men of America inductee, Byington has been an entrepreneur and business owner since graduating from college and law school. He has been a successful real estate investor in the San Antonio area for many years.

The March numbers are in, and they don't make comfortable reading for the many short-term rental homeowners around Walt Disney World, Florida, who are looking to sell up and take a profit. There was a further massive increase in the number of homes listed for sale during March, and no sign of any more buyers to mop up the inventory. The Hightower Index jumped into new territory in March to 273, up from 222, and now well within reach of the 300 'meltdown' level.

Statistics released on April 4 show vacation home inventory rising strongly in March, with aljost five times the number of properties seeking a buyer compared to a year ago. Serious buyers are still very thin on the ground, though, and they will be tempted only by the very best deals.

Hopes of more buyers coming into the market as spring approaches have so far not materialized, although the statistics relate only to closed sales, so they are about six weeks old compared to the listings numbers. It will take a lot to turn the market round quickly, though, with aljost five times as many homes being offered for sale now compared to a year ago.

Timing the real estate market correctly requires real estate franchises willing to support a variety of strategies for entering the market. Prospective sellers, buyers, and investors need to assess where their greatest value lies in the current environment. A full-service real estate franchise prepared to help customers consider all options provides a hedge against changing economic conditions.

Timing the real estate market correctly in a volatile environment poses challenges for owners and buyers alike. Trying to read the signs and determine whether the market will remain strong, level off, or take a downturn often requires expertise beyond the average investor’s abilities. A real estate franchise that supports a variety of strategies will be the service of choice when changing times create uncertain customers.

A property owner’s inclination to sell may not be the wisest choice. Interest rates and market conditions may make it less profitable to sell outright. Instead, securing a rental income from the property and waiting to sell until values rise or interest rates fall sufficiently may be the wiser move.

The late-night television airways are full of “nothing down” stories. Are they true? And, if so, is it possible to buy real estate with “no money down.” Furthermore, does it make sense to buy real estate with no money down?

Everybody wants to buy real estate with no money down (especially if you have no money), since it is the ultimate form of "leveraging." However, keep in mind that there is nothing special about buying a property with no money down. On the other hand, if you can purchase the property at a substantially below-market price and with no money down, you then have a good deal. This is buying 100 percent loan-to-purchase, not 100 percent loan-to-value.

The problem with buying a property at a below-market price is that lenders tend to "penalize" you with their loan regulations. Fannie Mae conforming loan guidelines usually require that an investor put up 20 percent of his own cash as a down payment. The 20 percent rule applies even if the purchase price is half of the property’s appraised value. Thus, the loan-to-value (LTV) rules are based on appraised value or purchase price, whichever is less.

Real estate, like any other commodity, is bought and sold every day of the week. Many people become real estate agents because they know a small piece of a large pie means big bucks. Agents help facilitate a sale by finding a willing buyer for a willing seller, earning a commission of approximately four to seven percent of the sales price for making the deal happen.

It is relatively simple to get a real estate license, and it is a lucrative field for many people. However, as you may expect, there is strong competition among agents, and the ones that are successful work long, hard hours. In fact, jost agents are on call weekends and nights, with their cell phones glued to their ears. Furthermore, real estate agents are required to take continuing education classes and follow strict guidelines set forth by bureaucratic agencies. There are better ways for an "entrepreneur" to make a living!