This film, was originally thought to be from 1905 until David Kiehn with the Niles Essanay Silent Film Museum figured out exactly when it was shot. From New York trade papers announcing the film showing, to the wet streets from recent heavy rainfall & shadows indicating time of year & actual weather and conditions on historical record, even when the cars were registered (he knows who owned them and when the plates were issued).. It was filmed only four days before the quake and shipped by train to NY for processing. Amazing but true!
Copied from..www.archive.org.
A trip down Market Street. The original version of which can be downloaded at….www.archive.org…suffered badly from “Film Roll” at the beginning and end, this version however has had those faults corrected and shows a lot more detail particularly at the end were the film froze and skipped frames.
John J. O’Dell
Real Estate Broker Looking for real estate in Nevada County? Click Here
One of the sad realities of having your home foreclosed is the tremendous amount of physiological pressure that is involved. Can you imagine buying a home, calling it yours, spending money to fix it up, than due to circumstances beyond your control, loss of income, sickness or whatever, you can’t make your mortgage payments.
Having had several clients try to work out loan modifications with a bank, I can somehow understand the frustration that this man must have felt when he finally reached a breaking point.
Here’s one of the latest cases of a person going over the top due to foreclosure.
httpv://www.youtube.com/watch?v=V86zV5vSUtU
According to the Springhill News a man who told Ohio authorities that he was facing foreclosure rammed his house with his SUV.
Clark County Sheriff Gene Kelly says 30-year-old Steve Doak told deputies he was recently served with foreclosure papers and wanted to destroy the house rather than turn it over to the bank.
The sheriff’s office says Doak drove the vehicle into fencing and then into the rear of the house in New Carlisle, about 50 miles west of Columbus. They say he did extensive structural damage. Authorities say they shut off utilities in the home for safety reasons.
Doak was arrested Tuesday on charges of inducing panic, disorderly conduct and other counts.
He has pleaded not guilty. No one answered his phone Thursday morning and the voice mailbox was full.
Governor Schwarzenegger on Monday signed SB 401 (Wolk) into law providing distressed homeowners with state tax exemption on debt forgiven in a short sale, foreclosure, or loan modification.
KEEP THIS IN MIND
• SB 401 generally aligns California’s treatment of taxes on forgiven mortgage debt with that of federal law. For debt forgiven on a loan secured by a “qualified principal residence,” borrowers now will be exempt from both federal and state income tax consequences. Previously, California homeowners generally were exempt from owing federal taxes on the forgiven mortgage debt, but still were required to pay California taxes on the so-called “phantom income.”
• Qualified principal residence indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence, including both first and second mortgages. It also includes refinance loans to the extent the funds were used to payoff a previous loan that would have qualified under these guidelines.
• The tax relief applies to debts discharged from 2009 through 2012. Californians who already have filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.
• Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) still may be exempt from paying taxes on forgiven mortgage debt under other provisions. Most notably, bankrupt taxpayers are exempt from debt relief income tax. Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.
To read the full story, please click here:Sacramento Bee
John J. O’Dell
Real Estate Broker Looking for new listings when they first come out on the Nevada County MLS ?
Go to JohnODellRealty.com You can sign up for free e-mail notifications when a new listing comes out.
Yes, we know. The economy is bad. Recovery may be on the horizon, but no one really knows how close. Or if we can “hold out” till it happens. Yet we can each take some actions to position ourselves in the best possible way to survive a weak economy—and be at the front of the pack when it improves.
Dr. Ivan Misner, founder and chairman of BNI (Business Networking International), the world’s largest business networking organization, says that during an economic downturn “you can actually prosper…while everyone else flounders in fear.” He tells of being at a business mixer in the early 1990s, “right in the middle of a nasty recession.” As he looked around the room and listened in, he noticed that “[w]hile nearly all were commiserating with one another, very few were actually networking and working on seeking new business…,” which, of course, was the purpose of the mixer!
So, while we can’t control the economy, we can control our response to it. Dr. Misner goes on to say, “During the last recession, I watched thousands of business people grow and prosper…because they consciously made the decision to refuse to participate in a recession. They did so by developing their networking skills and learning how to build their business through word of mouth.”
I’ve heard several people in my contact sphere say they’re refusing to participate in the recession. What if everyone refused to participate? We wouldn’t have a recession!
Dr. Misner concludes, “Don’t let a bad economy be your excuse for failure. Instead, make it your opportunity to succeed. While others are looking at the problems, those of us looking for opportunities will not only get through a bad economy but will prosper.”
Here are some ideas on ways to find opportunity:
Invite people to meetings of your business or trade group.
Offer to speak at an industry conference.
Send out a mailing.
Begin an e-mail campaign.
Write letters to the editor.
Start a blog.
Submit articles to trade publications and online article sites.
Add an opt-in and an autoresponder series to your website.
If you don’t have a website, get one.
If you need to outsource any of these projects, do it.
Stay in front of potential customers. Whatever line of work you’re in, people still need your product or service. If you’ve made your name familiar to your target audience and established yourself as an expert in your niche, you’ll be the one they go to when they’re ready to buy—instead of your competitors. Your (former) competitors will be the ones commiserating about how the recession of the early 21st century ruined them.
Lisa J. Lehr is a writer and copywriter living in Grass Valley. She can help you promote your business with a full range of online and offline marketing pieces. A member of Empire Toastmasters, she’s available to speak to your business or professional group. Visit her website www.justrightcopy.com for more information, opt in for the message series, and receive a free Marketing Guide.
New quarters for real estate author and motivational speaker.
Have you ever seen these ads that start out – make millions in real estate – you don’t need money, let me show you how to get started in real estate and earn a ton of money in the first month. Excuse me, if you can make millions in real estate using this “motivational speaker’s” techniques , then why is the guy even bothering to try to teach you his “sure why to get rich in real estate”?
I’ve been to one of these seminars. The guy showed up in a chauffeured limo, got out and he had diamonds on his fingers and so much gold jewelry that I was surprised he could walk. (I’m sure all the jewelry was fake) To make a long story short, every thing he said made no sense, but I noticed the people in the audience seemed to be buying his grubbily glop. I’m sure he made a lot of money selling his course and his books and tapes.
Well, here’s one “motivational speaker” from Texas, who hawked a book and infomercial on how to make money in real estate, who is among eight people convicted of a multimillion-dollar mortgage fraud scheme. Eric Rulack Farrington Jr., 57, was president of Eric Farrington Seminars and Prestige Capital Corp., which did business as Farrington Mortgage Group.
A federal jury this week convicted Farrington of conspiracy to commit wire fraud, bank fraud, aiding and abetting, 15 counts of wire fraud and aiding and abetting, 10 counts of money laundering and aiding and abetting, five counts of engaging in a monetary transaction with criminally derived property and aiding and abetting.
Prosecutors said the eight defendants ran the scheme from March 2002 to January 2006. They found single-family residences for sale in the Dallas area, including distressed and pre-foreclosure properties, and negotiated a sales price. They created surplus loan proceeds by inflating the sale price, often using inflated appraisals.
“In some cases, they would create a bogus outstanding mortgage lien to be discharged,” prosecutors said. “They recruited individuals with high credit scores to act as borrowers and falsely represented to them that the property would be managed by the defendants and rented by a suitable tenant; that the mortgage, interest, taxes, insurance and property maintenance would be paid from the rental income; and the purchasers/borrowers would have no expenses. The borrowers had no intention to live in the property and did not have sufficient income to repay the loans.”
Conspiracy to commit wire fraud and wire fraud carries a sentence of up to 20 years in prison and a $250,000 fine. Bank fraud is punishable 30 years in prison and a $1 million fine. Money laundering is punishable by 20 years in prison and a $500,000 fine, and engaging in a monetary transaction with criminally derived property is punishable by 10 years in prison and a $250,000 fine.
The defendants also must forfeit $8.5 million. No sentencing dates have been announced.
I guess while the group is in jail, they might read some books on real estate law, and maybe they can even read a book on ethics. I doubt it, what do you think?
John J. O’Dell Real Estate Broker
Looking to buy or sell?
Call today 530-263-1091
Politicians, like diapers, should be changed often and for the same reason
After much political wrangling, which seems to be the norm for California politicians, the Governor signed “legislation to provide greater assistance to California Homeowners”. Amazing how the politicians pat themselves on the back with their wording for something they should have done last year. Anyhow, here’s the press release, notice all the huffing and puffing of their chests for something that was so obvious for the politicians to pass without any fanfare.
“Gov. Schwarzenegger Signs Legislation to Provide Greater Assistance to California Homeowners
Tax Conformity Bill Also Promotes Growth in California Renewable Energy Projects
Governor Arnold Schwarzenegger today signed SB 401 by Senator Lois Wolk (D-Davis), legislation that will bring much of our state tax policy in line with federal policy while specifically providing greater tax relief to struggling California homeowners who have sold their homes as short sales or modified their mortgage loans. This bill will also assist companies that are developing new renewable energy projects in the state that are financed by economic stimulus grants received through the American Recovery and Reinvestment Act (Recovery Act).
“This legislation is a great example of what we can accomplish when we work together to solve problems that affect Californians, and I applaud Senator Lois Wolk, Senator Ron Calderon, Assembly member V. Manuel Pérez and Assembly member Anthony Portantino for their work. It is important that we continue to provide all possible assistance to homeowners who were negatively impacted by the mortgage crisis, and this bill will provide them with necessary mortgage debt relief and protect them from thousands of dollars in unfair taxes,” said Governor Schwarzenegger. “SB 401 will also help promote the growth of renewable energy projects in California by providing tax assistance to businesses to get their projects of the ground, which is good news for our economy.”
SB 401 extends the law providing mortgage debt forgiveness to homeowners who have already lost their homes due to declining home prices and cannot afford to pay thousands of dollars in taxes because the mortgage company forgave the remainder of the loan. This means that Californians who have sold their homes as short sales are allowed to exclude from taxable income the amount that was still owed to the mortgage company. The legislation, which increases the amount of mortgage debt forgiveness available, also applies to homeowners who have made loan modifications in 2009.
The bill also assists renewable energy companies that are currently establishing the financing to build their projects in California. By designating federal economic stimulus grants received through the Recovery Act for renewable energy projects are not treated as income for tax purposes, this legislation will help companies move these projects forward and help their business thrive in the state.”
Notice that the bill also attached a rider to aid renewable energy companies. I wonder if our politicians ever pass a bill without a rider on it?
On the surface the rider on SB 401 seems to be a good one, but has anyone read the fine print? What do you think?
John J. O’Dell
Real Estate Broker Searching for short sales and foreclosures in Nevada County? Click Here
The Bel-Air mansion, at 11,817 square feet, has a central tower, custom wine cellar, 35-seat home theater, six bedrooms, nine bathrooms and an Olympic-size pool.
How does such a talented actor such as Nicolas Cage wind up losing his beautiful home. Nicolas blames it on his manger Samuel J. Levin who he is suing. Nicolas accused Levin of having “lined his pockets with several million dollars in business management fees while leading Cage down a path toward financial ruin”
Levin filed his own counter suit, describing Cage as setting off “on a spending binge of epic proportions” and states that by July 2008 Cage owned “15 palatial homes around the world,” four yachts, an island in the Bahamas, a private Gulfstream jet and millions in art and jewelry.
It was up for auction Wednesday morning — along with a handful of other foreclosed properties — on the steps of the county courthouse in Pomona, Calif.
After a rapid-fire spiel by the auctioneer, the bidding was opened at $10.4 million, far less than the $35 million that Cage had tried unsuccessfully to sell the house for.
To put it mildly, the house, though impressive, was not to everyone’s taste. Real estate agent Bret Parsons, who toured it most recently in October, described the interiors as “fascinating and bizarre.”
“The design was ‘frat house bordello,’ ” Parsons said. “There must have been 300 comic book covers elaborately framed and hanging on the walls.”
Model train sets on raised tracks a couple of feet below the ceiling circled the inside of the breakfast room and two bedrooms.
There were also no takers in the courthouse sale, and in less than a minute the auction closed, with ownership reverting to the foreclosing lender — just one of six holding a total of $18 million in loans on the property.
This is not the only property lost to foreclosure by Cage, who was ranked last year by Forbes as the fifth-highest paid actor in the U.S. with earnings of $40 million.
The Bel-Air manse, at 11,817 square feet, has a central tower, custom wine cellar, 35-seat home theater, six bedrooms, nine bathrooms and an Olympic-size pool.
Borrowing against it included a first mortgage of $425,000 in 2005 and, in 2007, a second of $10.35 million and a third of $5.5 million.
The fourth, fifth and sixth loans, totaling $2.1 million, all came in 2008.
The courthouse event practically eliminated the lenders’ chances to collect on the last four loans because they’re no longer secured by the real estate.
” It was once owned by singer Dean Martin, who in 1974 commissioned Colcord to add a 2,500-square-foot entertainment complex. When another singer, Tom Jones, owned it, a $60,000 wall was erected around the property to keep adoring fans at bay.
Parsons blames the pricing for the fact that Cage couldn’t unload the house, even after it came down to $17.5 million. But the real estate agent also noted that the lot was squeezed with the addition of the entertainment complex. And, he said, there was no room left for a tennis court.
“People at that level want all the requisite amenities,” he said.
Still, he thinks it’s a rare find for the right buyer. “It is a superb home,” he said. “The floor plan, craftsmanship, location. It’s a great house.”
So it seems like Cage followed in the footsteps of many people who used their home for a piggy bank. The prices on homes appreciated so fast before the bubble burst and money was so easy to get, that the temptation to borrow on a home and buy new cars and other toys was too much for some people.
This is Saturday and taking a break from writing here is a very cute video on cats at their funniest moments. After all a laugh is a good thing once in a while.
httpv://www.youtube.com/watch?v=q1dpQKntj_w
John J. O’Dell
Real Estate Broker
Looking for short sales or foreclosures in Nevada County?
Go to Click Here
A recent study of more than 22,000 homeowners who bought their homes within the last nine years found that current homeowners plan to be “more practical” in their next purchase, focusing on livable space rather than unnecessary upgrades.
MAKING SENSE OF THE STORY FOR CONSUMERS
Many of the luxury amenities once considered necessities among home buyers, such as community clubhouses, dog parks, golf courses, and 24-hour security, are no longer priorities, according to the survey. Repeat buyers also said a swimming pool isn’t a must, but a children’s playground with walking paths are essential.
One of the takeaways from the survey, according to an architect firm, is that buyers nowadays should rethink space. For example, buyers should look for kitchen cabinets that go all the way to the ceiling for added space and efficiency. They also should pass on high-priced focal stairways, opting instead of steps that are tucked away and out of sight.
Buyers also should be on the lookout for dead space. If the dining room or media room is eliminated, at least some of the square footage should be dedicated to secondary bedrooms. The once-standard 10-by-10 bedroom no longer is acceptable to most buyers.
The survey also found that many buyers have transitioned toward green features, such as high-efficiency appliances, insulation, and windows that are not large areas of glass. However, many buyers did not report the use of recycled materials as a necessity.
Other findings from the survey show that large kitchens, with islands, are desirable, as are main-floor master bedrooms, and two-car garages.
I don’t understand the purpose of this, since an IPad costs $500. However, maybe they want to become famous, since this video has had over 1,300,000 views.
Well, they managed to destroy a perfectly good Apple IPad in a few minutes. What do you think?
John J. O’Dell
Real Estate Broker
Need help with real estate
Call me at 530-263-1091
