TGIF
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Gold up and oil down. Auto bailout rejected will create havoc in market
NT still has a few trades left in it!
Lack of mad money that normally floats about in better economic times?
Yes, but I am starting to see some speculative pups getting attention and volumes are also getting quite high in some cases so there is hope yet ... imo
WED climbing ever so slowly for reasons unknown ...
VRS rebounding today!
Especially true for this POS --- but then again they are the ones that sometimes pay huge in the ultra short term ....
3 Months Close Prices
Date Ex : Sym Open High Low Close Chg Vol #Tr Bid Ask
2008-12-10 Q : PXIA 0.0062 0.0062 0.0007 0.0009 -0.0063 1,216,080 31 0.0009 0.001
2008-12-09 Q : PXIA 0.0062 0.012
2008-12-08 Q : PXIA 0.0062 0.012
2008-12-05 Q : PXIA 0.0062 0.012
2008-12-04 Q : PXIA 0.0062 0.012
2008-12-03 Q : PXIA 0.018 0.018 0.0062 0.0072 -0.0118 47,950 4 0.006 0.012
2008-12-02 Q : PXIA 0.0072 0.018
2008-12-01 Q : PXIA 0.019 0.019 0.019 0.019 0.00 10,000 1 0.0072 0.018
2008-11-28 Q : PXIA 0.0062 0.019
2008-11-26 Q : PXIA 0.0062 0.019
2008-11-25 Q : PXIA 0.0062 0.019
2008-11-24 Q : PXIA 0.0062 0.019
2008-11-21 Q : PXIA 0.019 0.019 0.019 0.019 0.009 5,000 1 0.0062 0.019
2008-11-20 Q : PXIA 0.0062 0.019
2008-11-19 Q : PXIA 0.0062 0.019
2008-11-18 Q : PXIA 0.0062 0.019
2008-11-17 Q : PXIA 0.0062 0.019
2008-11-14 Q : PXIA 0.0062 0.019
2008-11-13 Q : PXIA 0.0062 0.019
2008-11-12 Q : PXIA 0.0062 0.019
2008-11-11 Q : PXIA 0.0062 0.019
2008-11-10 Q : PXIA 0.02 0.02 0.01 0.01 -0.01 20,000 3 0.0062 0.019
2008-11-07 Q : PXIA 0.0062 0.02 0.0062 0.02 0.005 10,500 2 0.0062 0.02
2008-11-06 Q : PXIA 0.0062 0.02
2008-11-05 Q : PXIA 0.017 0.017 0.015 0.015 -0.001 21,500 2 0.0062 0.02
2008-11-04 Q : PXIA 0.017 0.02
2008-11-03 Q : PXIA 0.014 0.016 0.014 0.016 0.001 66,625 8 0.017 0.02
2008-10-31 Q : PXIA 0.006 0.015 0.006 0.015 0.01 28,383 2 0.006 0.015
2008-10-30 Q : PXIA 0.006 0.015
2008-10-29 Q : PXIA 0.006 0.015
2008-10-28 Q : PXIA 0.006 0.015
2008-10-27 Q : PXIA 0.006 0.015
2008-10-24 Q : PXIA 0.006 0.015
2008-10-23 Q : PXIA 0.006 0.015
2008-10-22 Q : PXIA 0.006 0.015
2008-10-21 Q : PXIA 0.006 0.015
2008-10-20 Q : PXIA 0.005 0.015
2008-10-17 Q : PXIA 0.005 0.005 0.005 0.005 -0.01 8,000 1 0.005 0.015
2008-10-16 Q : PXIA 0.005 0.015
2008-10-15 Q : PXIA 0.005 0.015
2008-10-14 Q : PXIA 0.015 0.015 0.015 0.015 -0.005 11,500 1 0.005 0.015
2008-10-13 Q : PXIA 0.02 0.02 0.02 0.02 0.0169 10,000 2 0.0031 0.019
2008-10-10 Q : PXIA 0.0031 0.0031 0.0031 0.0031 0.00 1,050 1 0.0031 0.02
2008-10-09 Q : PXIA 0.0031 0.0031 0.0031 0.0031 -0.0019 10,000 1 0.0031 0.02
2008-10-08 Q : PXIA 0.005 0.005 0.005 0.005 -0.005 20,000 2 0.003 0.02
2008-10-07 Q : PXIA 0.005 0.02
2008-10-06 Q : PXIA 0.014 0.014 0.01 0.01 -0.003 22,000 5 0.005 0.0099
2008-10-03 Q : PXIA 0.017 0.017 0.013 0.013 -0.005 315,000 6 0.013 0.024
2008-10-02 Q : PXIA 0.018 0.018 0.018 0.018 -0.006 110,000 2 0.015 0.0165
2008-10-01 Q : PXIA 0.024 0.024 0.024 0.024 0.004 775 0 0.018 0.024
2008-09-30 Q : PXIA 0.014 0.024
2008-09-29 Q : PXIA 0.02 0.022 0.02 0.02 0.00 6,000 3 0.015 0.024
2008-09-26 Q : PXIA 0.02 0.02 0.02 0.02 0.003 25,000 2 0.0111 0.02
2008-09-25 Q : PXIA 0.015 0.017 0.0111 0.017 0.003 1,025,000 27 0.016 0.02
2008-09-24 Q : PXIA 0.014 0.014 0.014 0.014 0.003 30,000 2 0.014 0.015
2008-09-23 Q : PXIA 0.009 0.014 0.009 0.011 0.008 427,100 12 0.011 0.014
2008-09-22 Q : PXIAE 0.0095 0.0095 0.003 0.003 -0.0068 9,500 2 0.003 0.009
2008-09-19 Q : PXIAE 0.003 0.009
2008-09-18 Q : PXIAE 0.003 0.009
2008-09-17 Q : PXIAE 0.005 0.0098 0.005 0.0098 -0.0001 6,000 1 0.003 0.0098
2008-09-16 Q : PXIAE 0.005 0.0099 0.005 0.0099 0.0001 69,000 5 0.005 0.0098
2008-09-15 Q : PXIAE 0.005 0.009
2008-09-12 Q : PXIAE 0.005 0.009
3 Months Close Prices
Date Ex : Sym Open High Low Close Chg Vol #Tr Bid Ask
2008-12-10 Q : PTNG 0.08 0.40 0.08 0.40 0.32 211,700 25 0.15 0.40
2008-12-09 Q : PTNG 0.05 0.08 0.05 0.08 0.04 65,100 11
2008-12-08 Q : PTNG 0.043 0.05 0.04 0.04 -0.01 10,400 3 0.03 0.05
2008-12-05 Q : PTNG 0.05 0.05 0.05 0.05 0.00 7,500 0
2008-12-04 Q : PTNG
2008-12-03 Q : PTNG
2008-12-02 Q : PTNG 0.03 0.07 0.03 0.05 0.02 92,800 14
2008-12-01 Q : PTNG
2008-11-28 Q : PTNG
2008-11-26 Q : PTNG
2008-11-25 Q : PTNG
2008-11-24 Q : PTNG 0.02 0.03 0.015 0.03 0.00 20,100 4
2008-11-21 Q : PTNG 0.03 0.03 0.02 0.03 0.00 15,800 4
2008-11-20 Q : PTNG 0.05 0.05 0.03 0.03 -0.02 19,910 8
2008-11-19 Q : PTNG 0.04 0.05 0.035 0.05 0.005 10,400 2
2008-11-18 Q : PTNG 0.05 0.05 0.03 0.045 -0.005 28,500 6
2008-11-17 Q : PTNG 0.07 0.085 0.02 0.05 -0.01 97,450 19
2008-11-14 Q : PTNG 0.06 0.06 0.06 0.06 0.01 5,000 1
2008-11-13 Q : PTNG 0.05 0.05 0.05 0.05 0.00 5,000 1
2008-11-12 Q : PTNG 0.03 0.06 0.03 0.05 0.02 50,450 11
2008-11-11 Q : PTNG 0.03 0.03 0.03 0.03 -0.01 5,000 1
2008-11-10 Q : PTNG 0.05 0.05 0.03 0.04 -0.11 20,200 6
2008-11-07 Q : PTNG 0.02 0.15 0.02 0.15 0.14 104,460 20
2008-11-06 Q : PTNG 0.01 0.01 0.01 0.01 0.005 5,000 1
2008-11-05 Q : PTNG
2008-11-04 Q : PTNG
2008-11-03 Q : PTNG
2008-10-31 Q : PTNG
2008-10-30 Q : PTNG
2008-10-29 Q : PTNG
2008-10-28 Q : PTNG 0.005 0.005 0.005 0.005 -0.005 6,400 1
2008-10-27 Q : PTNG 0.01 0.01 0.01 0.01 -0.01 5,000 1
2008-10-24 Q : PTNG
2008-10-23 Q : PTNG 0.0002 0.035
2008-10-22 Q : PTNG
2008-10-21 Q : PTNG 0.03 0.03 0.001 0.02 0.015 54,870 5 0.0002 0.035
2008-10-20 Q : PTNG 0.005 0.035
2008-10-17 Q : PTNG
2008-10-16 Q : PTNG 0.005 0.035
2008-10-15 Q : PTNG 0.005 0.005 0.005 0.005 0.00 704 1
2008-10-14 Q : PTNG 0.005 0.035
2008-10-13 Q : PTNG
2008-10-10 Q : PTNG 0.005 0.03
2008-10-09 Q : PTNG
2008-10-08 Q : PTNG 0.005 0.005 0.005 0.005 0.00 120 1
2008-10-07 Q : PTNG
2008-10-06 Q : PTNG 0.005 0.035
2008-10-03 Q : PTNG
2008-10-02 Q : PTNG 0.005 0.029
2008-10-01 Q : PTNG 0.005 0.035
2008-09-30 Q : PTNG 0.005 0.035
2008-09-29 Q : PTNG 0.005 0.035
2008-09-26 Q : PTNG
2008-09-25 Q : PTNG 0.005 0.035
2008-09-24 Q : PTNG 0.005 0.035
2008-09-23 Q : PTNG 0.005 0.035
2008-09-22 Q : PTNG
2008-09-19 Q : PTNG 0.03 0.03 0.005 0.005 -0.025 2,400 2
2008-09-18 Q : PTNG 0.03 0.03 0.03 0.03 0.025 260 0
2008-09-17 Q : PTNG 0.005 0.035
2008-09-16 Q : PTNG 0.005 0.029
2008-09-15 Q : PTNG 0.005 0.035
2008-09-12 Q : PTNG
LCC Announces Deregistration of Its Common Stock
2008-12-09 17:00 ET - News Release
Company Website: http://www.lcc.com
MCLEAN, Va. -- (Business Wire)
LCC International, Inc. (Other OTC:LCCI.PK), today announced that it has filed a Form 15 with the Securities and Exchange Commission (SEC) to voluntarily deregister its common stock. LCC is eligible to deregister because it has fewer than 300 holders of record of its common stock. In filing the Form 15, the Company’s obligations to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, is immediately suspended. The Company expects that deregistration of its common stock will become effective within 90 days.
The Company is deregistering because it believes that the incremental cost of compliance with the Sarbanes-Oxley Act of 2002 and other public company reporting requirements does not provide a discernable benefit to the Company and is not in the best interest of its shareholders. Factors influencing the Company’s decision include:
The high financial costs of preparing and filing periodic reports and other filings with the SEC in comparison to the size of the Company.
The increased time to be available for management to focus on growing the Company’s business.
The limited trading in the Company’s common stock.
As a result of deregistering with the SEC, the Company’s common stock will cease to be eligible to trade on the Over-the-Counter Bulletin Board. The Company’s securities will continue to be traded over the counter on the Pink Sheets, but the Company can make no assurance that any broker will continue to make a market in the Company’s common stock. The “Pink Sheets” is a centralized quotation service that collects and publishes market maker quotes in real time, primarily through its web site, http://www.pinksheets.com/.
About LCC International, Inc.
Celebrating 25 years in the wireless industry, LCC International is a leader in providing wireless voice and data turn-key services to the telecommunications industry. Our service offering includes network services, business consulting, tools-based solutions, and training through our world-renowned Wireless Institute. The Company has worked with all major access technologies (including GSM, 1XRTT, EV-DO, UMTS, HSDPA, WiMAX and LTE) and has participated in the success of some of the most sophisticated wireless systems in the world. LCC is unique in its ability to provide comprehensive turnkey services to wireless operators around the world. We bring local knowledge and global capabilities to our customers, offering innovative solutions, insight into cutting-edge developments and delivering solutions that increase business efficiencies. News and additional information are available at www.lcc.com.
Cautionary Note regarding forward-looking statements under the Private Securities Litigation Reform Act of 1995:
Information in this release regarding LCC's expectations, beliefs, and intentions are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to LCC as of the date of this release, which may change and LCC assumes no obligation to update any such forward-looking statement. These statements are not guarantees. Factors that could cause or contribute to differences from such expectations include, but are not limited to risks associated with international operations, challenges and costs arising from integration of new operations and other factors that may affect our business are discussed in LCC's filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q.
Contacts:
LCC International, Inc.
Nancy Feeney
Area Vice President
+1 703-873-2077
nancy_feeney@lcc.com
JC Data Solutions and Neofirma, Inc. Join Forces to Offer Products to Service the Oil & Gas Industry
2008-12-09 12:06 ET - News Release
IRVING, TX -- (MARKET WIRE) -- 12/09/08
JC Data Solutions (PINKSHEETS: JCDS) and Neofirma, Inc. have finalized an agreement to jointly offer JC Data's payment management services integrated with Neofirma's online energy asset management service for the Oil & Gas Industry. Not only will these services increase efficiency in disbursements and data management for the Oil & Gas Industry but will also increase sales and client base for both JCDS and Neofirma.
Both companies will now offer a single, integrated online service for energy companies managing monthly payments to royalty and working interest holders.
The PAYMENT MANAGER (formerly the ACH Generator) is a service designed by JCDS for the Oil & Gas Industry which ties the energy company's existing accounting system to payee information to easily distribute payments, post payee statements online, do email notifications, print checks or statements and provide archival and retrieval of these statements. This program will be linked through the Neofirma service, which manages administration and communications with payment stakeholders.
"We approached existing JC Data and Neofirma clients concerning a payment facility that combined the strengths of both services. Several of both companies' existing clients have already signed up for the combined service. With this agreement we are moving forward to deploy the combined Payment Manager service," said Cary Allen, CEO, JCDS.
Neofirma's energy asset management services empower energy companies with powerful databases and secure on-line reports that enable management to track land and lease obligations, supervise the exploration process, optimize daily operations and now, manage stakeholder payments.
"Our market research revealed this to be an area that was underserved within the Oil & Gas Industry. Where service was provided, it was geared to the extremely large organizations and overpriced for almost all firms except the extremely large. Combining our two companies' industry-specific solutions into a single integrated offering allows us to provide an immediate cost-effective solution to an expensive and growing problem that the Oil & Gas Industry faces," said Jim Holder, CEO, Neofirma, Inc.
Neofirma and JC Data Solutions expect rapid growth of new clients of the combined payment management facility.
Forward-Looking Statements
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release.
For Information go to our web site at www.jcdata.com or call:
Cary Allen
CEO
JC Data Solutions, Inc.
214-295-5810
Email Contact
Need major volume to move it!
CCAJ
Nortel told NYSE listing depends on share price climb
2008-12-11 14:04 ET - News Release
Mr. Jay Barta reports
NORTEL RECEIVES NOTICE FROM THE NYSE ON CONTINUED LISTING STANDARD
On Dec. 11, 2008, Nortel Networks Corp. received notice from the New York Stock Exchange that Nortel has fallen below one of the NYSE's continued-listing standards regarding price criteria for its common stock as a result of the company's common shares having an average closing price of less than $1 (U.S.) per share during the consecutive 30 trading days ended Dec. 9, 2008. Under the NYSE's rules, the company has six months from the date of the notice to bring its average common share price back above $1 (U.S.). During the interim, Nortel's common stock will remain listed on the NYSE, subject to compliance with other applicable NYSE continued listing requirements.
GGN twitching on news ...
lol
Already raked snow off my roof yesterday on my day off ... sheesh! We almost have as much now as we did last year in JAN
looking at it now
You are so generous in your wording!
NT even considering bankruptcy protection if restructuring does not work out. How many times do these clowns have to restructure.
Wow, VRS at 15 end of day!!
VRS just dipped under .20 on news of yet another extension.
Allen-Vanguard gets loan payment extension from lenders
2008-12-10 12:44 ET - News Release
Mr. Robin Sundstrom reports
ALLEN-VANGUARD ANNOUNCES EXTENDED ACCOMMODATION AGREEMENT WITH ITS LENDERS
Allen-Vanguard Corp.'s lenders have again extended the accommodation agreement announced Sept. 30, 2008, to Dec. 31, 2008.
The accommodation further defers compliance with certain financial covenants and payment of the $10-million quarterly principal repayment that was due at Sept. 30, 2008. The accommodation provides the additional time necessary to complete discussions on revising the existing credit terms including the principal repayment schedule. As previously announced, the company has also been actively exploring recapitalization alternatives with various interested parties in conjunction with advisory work by its investment bankers and other outside advisors.
NT one sick puppy!!!!
NICE!! thanks!!
Nortel explores bankruptcy, government aid scenarios: report
Wed Dec 10, 4:22 AM
(Reuters) - Nortel Networks Corp has sought legal advice to study a bankruptcy protection scenario in the event that its restructuring plan fails and has also been exploring potential assistance from the Canadian government, the Wall Street Journal reported.
On the subject of legal advice for studying a bankruptcy scenario, the WSJ cited people familiar with the situation, while on the potential government aid scenario, it cited a person familiar with the situation.
Nortel's spokesperson said no bankruptcy filing was imminent though the Toronto-based company has engaged several advisors to plan ahead, the newspaper reported.
Nortel could not be immediately reached for comment by Reuters.
Nortel, North America's biggest maker of telephone equipment has lost billions of dollars and cut tens of thousands of jobs since the technology bubble burst at the beginning of this decade.
The company has been unable to recover since then, with its problems exacerbated by the global economic slowdown.
RBC Capital Markets analyst Mark Sue said in November the company faced significant liquidity concerns, with bankruptcy a distinct possibility before 2011.
(Reporting by Eric Yep in Bangalore; Editing by Erica Billingham and Andrew Callus)
Copyright © 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
Copyright 2008 © Yahoo! Inc. All rights reserved.
lol
nice step up!!
Worked out great!!!
VRS looking sweet today!!!!!!
Actually, we were at $1,000 per oz last March so that is not such a huge stretch.
I am far more confident predicting oil trends, but gold is so volatile that it is not clear to me what to do!
Gold ready to move back up at these levels!
VRS looking good!
Breaking News Alert
The New York Times
Tuesday, December 9, 2008 -- 10:03 AM ET
-----
Governor of Illinois Arrested on Corruption Charges
An official says that Gov. Rod Blagojevich has been arrested
on charges related to the selection of the replacement for
the Senate seat being vacated by Barack Obama.
Read More:
http://www.nytimes.com/?emc=na
-----
Ignatieff wouldn't bolster coalition much: poll
Mon Dec 8, 11:52 AM
By The Canadian Press
OTTAWA - A new poll suggests that a proposed Liberal-NDP coalition under Michael Ignatieff's leadership isn't much more palatable than an alliance under Stephane Dion.
The Canadian Press-Harris-Decima survey found that only 32 per cent of respondents favoured a coalition led by Dion, with 59 per cent opposed.
Asked if they would support a coalition led by Ignatieff, 38 per cent were supportive, with 50 per cent still opposed.
The poll found that almost 70 per cent of those surveyed felt Prime Minister Stephen Harper's Conservatives should stay in power, although 41 per cent blamed them for last week's political crisis and 39 per cent said Harper should resign.
However, 51 per cent said Harper should stay on.
The poll, conducted Dec. 4-6, questioned just over 1,000 people as part of an omnibus phone survey and has a margin of error of 3.1 percentage points, 19 times in 20.
The poll also suggests that 46 per cent of Quebecers feel Harper should resign, but the margin of error is much higher for the provincial breakdown.
Jeff Walker, Harris-Decima vice-president, said the result suggests the coalition concept didn't grab voters.
"While many believe Mr. Harper is the chief architect of the problems that currently face Parliament, the coalition concept under Mr. Dion has failed to generate broad public support as an alternative government," he said.
"For the Conservatives, the most damage in the past week seems to have come from the province of Quebec, where a plurality believe Mr. Harper should resign as leader of the party and a majority blame the Conservatives more than anyone else for the parliamentary crisis."
Copyright © 2008 Canadian Press
Copyright 2008 © Yahoo! Inc. All rights reserved.
December 6, 2008
Your Money
It May Be Time to Think About Buying a House
By RON LIEBER
Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.
Then, everyone who sat on their down payment savings accounts for a few years too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime for those who can qualify for a mortgage.
Unfortunately, we do not know when this golden age will begin, because we will be able to identify a bottom to the housing market only with the benefit of hindsight. But as it does with the stock market, the moment will probably arrive when everyone is feeling the most pessimistic.
That moment is certainly getting closer. Housing prices have fallen drastically from their peak levels in many areas of the country. Rates on 30-year fixed-rate mortgages are already close to 5.5 percent, and this week there were suggestions that the federal government might try to drive them down to 4.5 percent, a truly incredible figure to be able to lock in for three decades.
Meanwhile, first-time home buyers have the same advantage they have always had, which is that they do not have to sell their old place before buying a new one. That is an added advantage in areas where many available houses simply are not moving, because the people trying to sell them will not be bidding against you.
If you’re hoping for a recovery in the housing market, you ought to be cheering on the first-time home buyers. When they purchase homes, their sellers are free to move on or move up, stimulating further sales.
But if you are a potential first-time buyer yourself, or lending or giving the down payment to one, you are probably as frightened as you are tempted by all the “For Sale” signs that have become “On Sale” signs. So let’s quickly review some of the still-grim pricing data in certain areas — and consider the reasoning offered up by first-time buyers who have forged ahead anyhow.
As is always the case with real estate, much depends on location. One study, “The Changing Prospects for Building Home Equity,” tries to predict where today’s first-time buyers in the 100 biggest metropolitan areas may actually have less home equity by 2012 as a result of continued price declines. The verdict was that buyers in 33 of the markets could see a decline by 2012, including potential six-figure drops on an average home in the New York City, Los Angeles, San Francisco and Seattle metropolitan areas.
This is obviously scary. (I’ve linked to the study, a joint effort of the Center for Economic and Policy Research and the National Low Income Housing Coalition, from the version of this article at nytimes.com/yourmoney.) It’s worth noting, however, that these predictions came before the government made its most recent move to reduce borrowing costs.
Also, the price projections in the study are based, in part, on the fact that the ratio of purchase prices to annual rents is still higher in many areas than the historical average, which is roughly 15 times rents. While past figures may well have some predictive value, I have never been convinced that first-time buyers compare a home that they could own and one that they would rent in purely or even primarily economic terms.
When Jaime and Michael Proman moved this fall to Minneapolis, his hometown, from New York City, they craved a different sort of life after two years together in a 450-square-foot studio apartment. “We didn’t want a sterile apartment feel,” said Mr. Proman, who is 28 (his wife is 26). “We wanted something that was permanent and very much a reflection of us.”
The fact is, in many parts of the country there are few if any attractive rentals for people looking to put down roots and enjoy the sort of amenities they may spot on cable television home improvement shows. Comparing a rental with a place that you may own seems almost pointless in these situations, especially for those who are now grown up enough to want to make their own decisions about décor without consulting the landlord.
Still, for anyone feeling the urge to buy, a number of practical considerations have changed in the last year or two. The basics are back, like spending no more than 28 percent of your pretax income on mortgage payments, taxes and insurance. Even if a lender does not hold you to this when you go in for preapproval, you should hold yourself to it.
You will also want to start now on any project to improve your credit score because it may take several months to get it above the 720 level that qualifies you for many of the best mortgage rates.
John Ulzheimer, president of consumer education for credit.com, a consumer credit information and application site, suggests starting to pay down and put away credit cards months before you apply for a loan. That is because the credit scoring system could penalize you if you use a lot of credit each month, even if you always pay in full. Also, check your three credit reports (it’s free) at annualcreditreport.com and dispute errors.
While no one can easily predict the likelihood of losing a job, Friday’s startling unemployment figures suggest the need for caution if you think you might be vulnerable. A. C. Panella, who teaches communications at Pasadena City College in California, waited until she had a tenure-track job before buying a home in the Highland Park section of Los Angeles with her partner, Amy Goldman, a lawyer for a nonprofit organization. “We could afford the mortgage payment on one salary, were something to come up,” Ms. Panella, 31, said. “It’s really about being able to stay within our means.”
For many first-time home buyers, that philosophy stretches to the down payment, too. Ms. Panella and her partner put down 20 percent when they bought their home in September, as did the Promans when they bought their home in the Lowry Hill neighborhood of Minneapolis.
Alison Nowak, 29, put just 3 percent down on a Federal Housing Administration-backed loan last month when she and her partner, Lacey Mamak, bought a $149,900, 800-square-foot home several miles south of where the Promans live. “Anything that is an opportunity also has a bit of risk,” she said. Her house was in foreclosure before a plumber bought it and fixed it up. “One way we mitigated it was that we bought a really tiny house in a very good neighborhood.”
One other strategy might be to buy new instead of used. Ian Shepherdson, chief United States economist for the research firm High Frequency Economics, says he believes that a steep drop-off in inventory of new homes is coming soon, thanks to a rapid decrease in home builder activity.
Since prices generally soften in the winter, it may make sense to start looking seriously once the mercury bottoms out. “If you look at new developments next spring, you may not have the choice you thought you would have or be in the bargaining position you thought you would be,” Mr. Shepherdson said. Also, if you wait after June 30, you will miss out on a $7,500 federal tax credit for income-eligible first-time home buyers that works like an interest-free loan.
Finally, allow yourself to consider how it would feel if you bought and then prices dropped another 10 or 15 percent. It might not bother you if you plan to stick around. Plenty of people seem to be making a longer commitment to their homes. According to a survey that the National Association of Realtors released last month, typical first-time buyers plan to stay in their home 10 years, up from 7 last year.
Perhaps people are more aware that they will not be able to build equity as rapidly as others did in the real estate boom. Or they simply have more confidence in hard, hometown assets now than in other markets.
“We wouldn’t let another decline bother us,” said Michael Proman. “You can never time a bottom. This is a long-term investment for us, and it truly is the best investment we have in our portfolio right now.”
Breaking News Alert
The New York Times
Monday, December 8, 2008 -- 12:09 PM ET
-----
5 Guards Are Charged With Manslaughter in Iraq Deaths
The Justice Department unsealed a 35-count indictment
charging five guards for Blackwater Worldwide with
manslaughter, attempted manslaughter and weapons violations
in a 2007 shooting in Baghdad that killed at least 17 Iraqi
civilians.
Skinheads tried to disrupt Liberal-NDP rally in Moncton: RCMP
Mon Dec 8, 8:16 AM
Several skinheads tried to disrupt a rally organized by supporters of the federal Liberal-NDP coalition last Thursday night in Moncton, Codiac RCMP have confirmed.
Three men with shaved heads heckled the crowd of 200 people in Moncton who gathered to support the coalition formed between the two opposition parties to replace the Conservative government.
Police quickly cornered the men and kept them away from the rally.
Deedee Daigle, one of the rally's organizers, said she's seen the ringleader at other public rallies.
"I personally ran into him about three years ago when we did a rally in Saint John against the proposed Atlantic gateway," she said.
"As far as I can tell ... he takes an opposing view from what's there. But what he's just trying to do is to rile up the crowd and see if he can get them to start behaving in a mob-like way."
Daigle said that at a rally in Saint John, the same man tried to convince students to throw rocks at police. She said he was also at another rally in Halifax a year ago.
That's why she wasn't surprised to see him and two followers trying to provoke the crowd once again, Daigle said.
RCMP Const. Brian Butler says there are six to 10 skinheads active in New Brunswick. He said they love getting media attention by trying to disrupt public gatherings.
The best way to deal with them, he said, is to ignore them and their taunts.
Copyright © 2008 CBC
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"Ten people who speak make more noise than ten thousand who are silent."
--Napolean Bonaparte
Breaking News Alert
The New York Times
Monday, December 8, 2008 -- 10:14 AM ET
-----
Alleged 9/11 Mastermind and 4 Co-Defendants Seek Guilty Plea
Khalid Sheikh Mohammed and four other Guantánamo detainees
charged with planning and coordinating the Sept. 11 attacks
have asked a military judge to accept their confessions in
full. The request appeared to be intended to cut short any
effort to try them, and to challenge the United States
government to put them to death.
Breaking News Alert
The New York Times
Sunday, December 7, 2008 -- 6:11 PM ET
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Tribune Tries to Stave Off Bankruptcy Filing
The newspaper company has hired bankruptcy advisers in an
effort to stave off a potential bankruptcy filing, people
briefed on the matter said.
Ace Utilities considers ctfmon.exe as a suspicious start-up program yet it is part of MicroSoft Works background operation?
Subtle message??
Anti-coalition rally to send opposition 'loud, clear' message
More than 20,000 show their support on rally website
By Chloé FedioDecember 6, 2008 10:10 AM
Donna Lynn Smith Liberal candidate from Edmonton-Leduc speaks to About 200 pro-coalition supporters stood in front of city hall to rally their cause and hear four speakers from the New Democrats and the Liberal party speak about the political situation in Ottawa.
Donna Lynn Smith Liberal candidate from Edmonton-Leduc speaks to About 200 pro-coalition supporters stood in front of city hall to rally their cause and hear four speakers from the New Democrats and the Liberal party speak about the political situation in Ottawa.
Photograph by : Edmonton Journal
An anti-coalition rally on Parliament Hill is going ahead, even though the Governor General has granted the prime minister's request to prorogue parliament.
It's one of 21 pro-government rallies planned from Victoria to Halifax at noon today.
Stephen Taylor, a Tory blogger, created the website rallyforcanada.ca to mobilize citizens against the proposed Liberal-NDP coalition supported by the Bloc Québécois.
Despite the seven-week parliamentary time-out, the leaders of the three opposition parties are continuing to state their intention to bring down the Tory government when session resumes on Jan. 26, something Mr. Taylor said has many Canadians concerned.
"We want to make sure that when the Parliament does come back, that the opposition parties get a loud and clear message that a lot of Canadians are concerned about the prospect of an unelected coalition government, and that a coalition should be proposed to Canadians through an election."
The Oct. 14 election saw the lowest voter turnout in Canadian history at 59.1 per cent, but Mr. Taylor suggested that the prospect of a coalition has ignited debate and might renew interest in federal politics.
"People are following this very closely. I think that this is actually engaging Canadians."
Mr. Taylor said more than 20,000 people have registered their e-mail addresses on the Rally for Canada website.
The pro-coalition movement, which is backed by the Canadian Labour Congress, staged a rally on Parliament Hill on Thursday, and has rallies planned today in Montreal, Toronto and Sudbury.
© Copyright (c) Canwest News Service