I stood in line on Friday for about an hour to pick up my new HTC Evo at my local Sprint store.  About 3 weeks prior I had killed my 6th Treo and was fortunate enough to have to carry a pink Treo Centro till the Evo was released.  Needless to say I counted the days until its arrival…

I truly feel the Evo is a true adversary to the iPhone and here’s why…  First, my Sprint monthly service cost is about half of what it would be with AT&T for the same service plan.  Sprint doesn’t up-charge you for unlimited data and texting like AT&T.  Second, the Evo will run at 4G speeds, something AT&T does not currently have nor am I aware of any future plans to have.  But the neatest feature for me is as follows.

The Evo runs on Google’s Android software platform.  One of the first things you must do when you power up your new Evo is log into your Gmail account.  The Evo is in constant contact with Gmail and the two stay synced throughout the day.  After installing Google Sync on my computer I had over 2,000 Outlook contacts and every calendar entry uploaded to my phone in seconds!  And that’s not all!

I then logged into my gmail calendar and shared it with my staff and family.  In minutes I was able to see my wife’s calendar on my phone and now my wife and staff can add events directly to my calendar and phone.  Better yet, no more manually syncing my data to my computer or worrying about whether or not my data is backed up!

In a few months our local lock-box provider, Supra eKey, will have software compatible with the Android platform and I am just starting to realize the power of all the apps available to Android.  My tech buddies tell me the majority of the Android apps are free vs a cost that is associated with the iPhone apps.  One of the neatest apps I’ve loaded onto my Evo is Remote Desktop Control.  This allows me to remotely access any of my computers that are turned on and connected to the Internet.  No more running back to office to retrieve a file stuck on that one machine!  And don’t fret if you currently own an older model Android based phone and are not elgible for an upgrade.  You can update your current software version to the one on the Evo for free at your local store or by clicking on the link word Android!

I was excited last month upon the arrival of my new iPad but I can honestly say I am more excited about my new HTC Evo!

-Sean

For months now I’ve been quietly waiting for the “public” announcement of “Project Tiger” as it was called…

Well it’s official!  IBM is opening up a new data center right here in Columbia, MO!  The experts are saying it is the biggest sign of economic recovery in the mid-west and the biggest economic impact Columbia, MO as seen since inception.  The article below from the Columbia Business Times sums it up best!  -Sean

IBM data center to create hundreds of jobs

by David Reed

May 17,2010

The flag welcoming IBM to Columbia, unfurled from the roof of Boone County National Bank’s Broadway headquarters Monday afternoon, put to rest many of the questions about the secretive effort to attract a huge employer to Columbia.

The months-long initiative – dubbed “Operation Tiger – to attract a high-tech business to the city concluded outside city hall, where hundreds of people had gathered to hear the announcement. Dozens of city, county and state officials assembled on a blocked-off Eighth Street as Gov. Jay Nixon announced that technology giant IBM would build a new data center in the city that could create as many as 800 jobs.

“No recent announcement compares to what we’re announcing here today,” Nixon said.

Timothy Shaughnessy, IBM Global Technology Services senior vice president for service delivery, said he expects 80 percent of the jobs to be local hires and that the facility’s 800-job creation estimate would be reached by 2012. The new facility will be located in a now-vacant office building at 2810 LeMone Industrial Blvd. and should be operational by November, Shaughnessy said.

Shaughnessy said the new facility will provide services such as server system operations, security system support and other end user services. In the last 18 months, IBM has opened similar facilities in Dubuque, Iowa, and Lansing, Mich. The Columbia facility will begin hiring this summer, according to information provided by the company.

Mayor Bob McDavid applauded the efforts of various state officials and legislators, as well as the efforts of Regional Economic Development Incorporated. He called the process to bring IBM to the city “the second most important public-private partnership in the history of Columbia” – behind the 19th century-effort to keep MU in the city.

Shaughnessy said MU and Columbia’s other educational institutions will factor prominently in the company’s recruiting and training efforts. He cited the educated workforce as one of the primary reasons for IBM’s decision to expand in Columbia.

A host of local and state incentives also played a role. Missouri offered more than $28 million in state tax credits and job-training programs to IBM. Boone County is offsetting some of the company’s property and sales taxes with Chapter 100 Bonds. The City of Columbia is planning on purchasing the building on LeMone for $3.2 million and leasing it to IBM for $1 a year for 15 years.

Over the next decade, the facility will generate over $4.3 million in additional revenue for Columbia Public Schools and over $4.7 million for Boone County governments, McDavid said. He estimated that more than 300 homes will be purchased by new employees of IBM.

Materials provided by REDI indicated the facility represents a $15 to $20 million investment in real and personal property. The average salary for those employed at the center will be $55,000.

Former Mayor Darwin Hindman, who spoke at the ceremony, applauded the “tireless efforts” of REDI Chairman Dave Griggs, one of the key players in the initiative.

Hindman said the IBM announcement represents Columbia’s progress into the “knowledge-based economy.”

“It represents the type of economic development the city has been seeking,” he said.

Little was known about the city’s incentive package or the prospective employer before today’s announcement due to confidentiality requested by IBM during the negotiations. The hush-hush nature of the operation, which officials said was necessary to keep IBM from walking away, prompted some quips from Hindman and Nixon about keeping anything out of the media in Columbia.

“Things happening confidentially in Columbia, Mo.?” Hindman said. “Let me tell you, that is really something.”

The question of recent weeks that I have been asked by just about everyone is “Where do I see the market in Columbia going if the Federal Tax Credit is allowed to expire”?  Well, my answer is somewhat complicated…

First, all signs are indicating that the Feds are going to allow the tax credit to expire.  Every blog and news article that I have read in the past weeks has said such and even the National Association of Realtors has issued a white paper stating their experts believe the same to be true.  So let’s assume this perk is all but gone.  I personally some good will come of it.

In the recent months Columbia new home construction permits have increased the most in many many months or year for that matter.  Most of the home builders that survived the downturn are scrambling to get their tax credit buyer homes completed by the June 30th closing deadline. In fact, a builder that I represent has 5 such homes to get done, two of which he started on this week!  I do however predict the current rise in building permits to drop off in the next month or so.  But I have a twist on the pessimistic perspective of doom and gloom that I hear from most if the tax credit does indeed expire…

See, I feel the majority of the “First Time Buyer” existing or resale homes are occupied by owners that have lived in their homes less than 5 years and therefore are not entitled to the tax credits for the new or repeat buyers.  So they have yet to enter the buying marketplace.  As their homes go under contract by the end of the month, these sellers will become May and June’s buyers.  They will also be upgrading and buying into more expensive homes.  So in part, May and early summer we will start to see the 150 to 300k homes sell.  As these homes go under contract, these sellers (if not hurt by the current economy) will become move up buyers, taking advantage of the great values out there on the upper end homes.  As we move through the summer we will see many high end homes that have been on the market for months or even years go under contract and finally transact!  But that’s not all…

For six plus months every lender I work with keeps saying “rates are gonna go up” because they cannot go down.   Well, I think they all are dead wrong.  In fact, my research indicates that if the tax credit does indeed lapse we might see rates drop into the low 4% ranges just like we did this time last year.  Couple this with the move up activity I mentioned above and I think the next 4 to 6 months of transacting real estate in Columbia could be quite surprising to most of the ”half empty glass” people. 

I know that I am very opptomistic but it is not just the way I think, its the way I work.  In fact, its how most successful business people think and work.  See, 2009 was one of the worst real estate years in America’s history but it was my best year in the business.  The first quarter of 2010 has also been really good to me and if I can keep the numbers where they have been for the past 4 months, is looking to also be a record year.  So if you are a first time buyer or move up buyer, NOW is the time like never before to BUY!  “Take a risk and reap the reward”, I know I have on so many levels.  -Sean

I am spending this weekend in Orlando (the house of the mouse) at the RE/MAX National Convention.  My main reason for coming was to hear a few key speakers that I trust and want to learn more from.  The weather is fair but the knowledge I’m am getting will keep me on top of my game! 

During class our instructor Chris (aka Tech Savvy Agent) spoke about Warren Buffett making comments this week stating to his share holders NOW is the time to buy.  See, we never know when the bottom occurs until the housing market starts to improve and in Columbia, MO and many other parts of the country we are seeing some good indicators of better times ahead!  Here is Warren’s article:  -Sean

Bloomberg

Buffet Says U.S. Housing Market to Recover in “Year or So”

February 27, 2010, 10:53 AM EST

By Andrew Frye

Feb. 27 (Bloomberg) — Billionaire Warren Buffett said the U.S. will recover from the residential real estate slump by 2011 as demand for houses catches up with the supply that accumulated during the bubble.

“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote in his annual letter to the shareholders of his Berkshire Hathaway Inc. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.”

The worst housing decline since the Great Depression has drained profits from the nation’s largest banks and forced the bailout of companies including Citigroup Inc. and American International Group Inc. Record foreclosures flooded a U.S. real estate market already glutted with unsold property, causing housing starts to fall to their lowest in at least five decades, the U.S. Census Bureau said in a December statement.

“People thought it was good news a few years back when housing starts — the supply side of the picture — were running about two million annually,” said Buffett, 79, the chairman and chief executive officer of Omaha, Nebraska-based Berkshire, in today’s letter. “But household formations — the demand side — only amounted to about 1.2 million.”

Buffett built Berkshire into a $198 billion company through takeovers and investments in companies he believes have lasting competitive advantages and superior management. His deals transformed the company from a failing maker of men’s suit linings into an enterprise with businesses ranging from ice cream and underwear to power plants and corporate jet leasing.

‘Ridiculously Cheap’

Berkshire, which has a real-estate brokerage, a business that constructs pre-fabricated houses and units making products used in homebuilding, has suffered amid the downturn. Profit at carpet manufacturer Shaw Industries fell 30 percent last year to $144 million.

“He’s very deeply invested in this,” said Tom Russo, partner at Gardner Russo & Gardner, which holds Berkshire stock. “Across his industrial companies, he’s massively poised to gain” from a housing recovery, Russo said.

Buffett wrote today that his company should have made more purchases of corporate and municipal bonds last year because they were priced ”ridiculously cheap” compared with U.S. Treasuries.

“When it’s raining gold, reach for a bucket, not a thimble,” he said.

Pied Pipers

Buffett has used past letters to discuss plans for his successor, praise Berkshire managers and confess his failings. He’s written passages that compare investing to baseball, derivatives to venereal disease, and Wall Street bankers to Pied Pipers. Last year, he said the U.S. economy was “in shambles” after reckless lending caused the worst financial “freefall” he ever saw.

Buffett said this year that the CEOs and boards of directors of companies that failed during the credit crisis shouldn’t be able to pass blame to those below them. Boards should insist on CEOs taking full responsibility for risk, he said.

“If he’s incapable of handling that job, he should look for other employment,” Buffett wrote.

Shareholders weren’t the ones who botched the operations of some of the country’s largest financial institutions, Buffett said, “yet they have borne the burden with 90 percent or more” of their holdings wiped out in cases of failure. “If their institutions and the country are harmed by their recklessness, they should pay a heavy price,” he wrote.

The Oracle

The annual communications with shareholders have won Buffett a following of professional money-managers and amateur investors who have given him the moniker “the Oracle of Omaha.” Past letters have been compiled into a book for those who want to study Buffett’s pronouncements.

“It’s Moses coming off the mountain with the Ten Commandments,” said Gerald Martin, a finance professor at American University’s Kogod School of Business in Washington who has made Buffett’s letter assigned reading for his students. “It’s something we all look forward to.”

Buffett agreed to his largest deal last year when he arranged the $27 billion takeover of railroad Burlington Northern Santa Fe. Berkshire completed the acquisition, which Buffett described as an “all-in wager” on the U.S. economy, on Feb. 12.

Shares of Berkshire traded at about $15 when Buffett took control in 1965. The Class A stock closed yesterday at $119,800, its highest since October 2008. Buffett added Class B shares in 1996, and agreed to split them this year to help pay Burlington Northern shareholders.

Record Trading

When Berkshire replaced the railroad in the Standard & Poor’s 500 Index, it prompted record trading. The value of Berkshire shares changing hands that day amounted to the most for a single company in one day of trading on the New York Stock Exchange.

The annual letters typically give a preview of the company’s upcoming shareholder meeting, scheduled this year for May 1. Buffett announced a change in the format of the meeting in the last letter after shareholders at prior gatherings sought his opinion on sports, abortion and religion while asking few questions about Berkshire.

Berkshire had announced that this year’s meeting won’t include a separate event for non-U.S. investors. He used the session in prior years to scout for acquisitions outside the country.

–With assistance from Jamie McGee and Hugh Son in New York. Editors: Erik Holm, Rick Levinson.

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net.

On Friday HUD announced that it is removing the 90 resale rule allowing a FHA borrowers to now get a chance at buying a foreclosure or a foreclosed home that another party has bought, fixed up and placed back on the market.  Here are all the details -Sean

2009 will go down in the history books as one of America’s most interesting years.  I truly believe this as we saw history in the making each and every month.  For me, it was an interesting year as well, both with the good and the bad of it…

On the business front it was a success.  I had exceeded all my goals and sold more real estate in 2009 than I ever have since entering the business.  I think I have figured this industry out and know how and where to go for the transactions…  On the family side of things is another story.  My year ended with one tragic event after another;  I lost my mother, found out my son had a tumor, battled the swine flu, was betrayed by a client turned friend, and even battled evil encroaching on my children’s christian education.  It’s not all bad however as “Sorrow is better than happiness, as it changes you forever”.  I feel we learn more from tragedy than we do from those wonderful events that bring us short term bliss.

My mothers death has caused me to have a new goal for 2010.  For the first time in my career my goal is not to produce more.   Instead I want to maintain my current level yet do it more efficiently.  In other words I want to provide better service to my clients than ever before and at the same time provide more quality time with my family.  I plan to put even better systems into place and really hone in on what my strengths are.  BALANCE is the key word for 2010 and where I plan to focus my energy.

And believe it or not getting hit by the Swine Flu was a good thing.  Since leaving a 10 year career in law enforcement, I have let my health go.  The stress of supporting a family of 5 on 100% commission based income is hard on ones body, mind and soul.  After learning I lost 12 pounds due to the flu I decided to keep a good thing going.  I am now down over 25 pounds and my thirst for eating right has spread to my entire household.  My wife and even my 5 year old triplets are more than ever interested in eating right.  The increased energy I have had over the past 2 months is all the incentive I need to keep it going!

This leads me to my final “ah-ha” revelation from 2009.  I will call it “Miracles do happen”.  About 2 weeks before Christmas I got a sign call on one of my listings from a lady asking if my seller would sell the home for half the listed price.  After explaining that any scenario like this is highly implausible with private seller and more realistic with a bank or commercially owned property I was given the opportunity to prove my point.  Two days prior I had shown a foreclosure condo to an investor that had just been put on the market for half its real value.  I knew the property would go fast…

My new client after seeing (and loving) the condo the presented me an impossible situation.  She explained that her purchase needed to transact by the end of the year, weeks away, as she was eligible to receive a sizable grant for her purchase.  Knowing it is unheard-of to close a Federally owned property in under 30 days I explained our dillema.  She asked that I attend a meeting on her receipt of the grant funds to learn more.  After learning the grant would almost pay for her entire purchase I told her we had to at least try to make this miracle happen.  She was up for the challenge and I am proud to say that on December 30th, 2009 she closed on her first ever home worth nearly 100k for an out of pocket expense of a few thousand dollars!

This transaction for me was not about one more sale for the year or the small commission I earned.  It was about seeing a senior citizen purchase her first ever home and about the challenge she presented to me.  More than that, it was about the best example I have ever seen of “The American Dream”.

Welcome to 2010!  Know that with hard work, determination, and a solid foundation of faith that the impossible can and does occasionally happen.  May this bright new year bring you closer to the real meaning of life…   -Sean

I’ve been monitoring this latest incentive for a few weeks now.  Starting January 2010, the State of Missouri will pay the Property Taxes for qualified home buyers.  This is one more reason for First Time Buyers to ”stop looking into buying a home and start living in their own home”.  Here is the latest from the St. Louis Business Journal.  -Sean 

Friday, December 18, 2009, 11:22am CST

New Missouri homeowner tax break wins OK

St. Louis Business Journal

Missourians hoping to buy a home in the year got some good news Friday.

The state will pay the first year of property taxes for some residents who buy homes after Jan. 1, 2010, under a plan the Missouri Housing Development Commission approved. The measure, first proposed by Gov. Jay Nixon and state Treasurer Clint Zweifel last month, passed 7-1.

The initiative is expected to provide property tax relief for 9,000 to 11,000 Missouri families.

Families who make less than $98,000 a year and enter into a contract to buy a new or existing Missouri home after Jan. 1 would have their property tax paid up to $1,250.

Those families would be eligible to have an additional $500 paid toward the tax bill if they purchase an energy-efficient home or Energy Star appliances, bringing the total tax relief available for each family to $1,750.

The energy-efficiency initiative was part of a larger, $35 million package the commission approved Friday. The package, funded through commission reserves and federal stimulus money, includes funds to provide down-payment and closing-cost assistance for first-time homebuyers and for the construction of rental housing.

Included in the package are:

• $15 million in American Recovery and Reinvestment Act funds to provide financing for construction of rental properties in 2010;

• $15 million in commission reserve funds for the tax-relief and energy-efficiency initiatives;

• $5 million to fund down-payment and closing-cost assistance for the First-Time Homebuyer Program.

Last night was our annual Columbia Board of Realtors Awards Banquet and Installation Ceremony.  The Board changed it up this year and went to an evening cocktail party over the usual Luncheon.  They kept it short and sweet but the class remained!  The nice change this year was spouses were able to attend.  I sometimes feel my wife, Erica, is totally in the dark about my trade and who I work with, so it was nice for her to meet those who occasionally spend more time with me than she does…

The reason for this post was an “ah ha” moment I had last night.  The Realtor of the Year Award went to Jake Jacobs.  It was the second time in his career that he has won this most prestigious award at our local level.  But more than that, I learned that some research was done with the National Association of Realtors and it is believed Jake is the oldest practicing Realtor currently in America!  He is in his 90’s and still drives to and from work each day, shows property, and manages the books.  His group, Jacobs Realty and Property Management is a powerhouse in Columbia.  They have some of the most professional agents I’ve ever dealt with in their group and they manage a large sum of rental properties throughout the community. 

I met Jake and his son Delton way before I got into real estate.  As a former Columbia Police Officer I had the occasional police call involving one of their tenants or properties.  It was always a pleasure to handle a call from them as they are huge supporters of law enforcement and my case was typically delivered on a silver platter.  Then in 2005 the Columbia Police Department lost one of its officers, Molly Bowden, on a routine car stop.  Jake and his family made significant contributions to the Officer Down Fund for Molly as they knew her well.  I was fortunate enough to be pulled aside and assist them with their generosity on multiple occasions during the aftermath of this tragic event.

After Jake received his award a Proclamation was read, written by our City Mayor Darwin Hindman, dedicating December 4th as Jake Jacobs Day!  It was the cherry on the top (of a very large pile of whip cream on top of an even larger sundae of community involvement, professionalism, ethics, and love) Jake and his family always gives to Columbia, MO.

I am honored to have been in attendance to say the least.  -Sean

With the new bill that was signed on Friday I have been fielding dozens of emails, phone calls and other inquiries on how the extension of the First Time Buyer Credit will play out in the future and exactly how the new tax credit for Repeat Home Buyers works.  Well, this time the federal government answered our requests and built a very straight forward website that has a great FAQ section as well.  Below is a summary of both programs and you can learn more by clicking the link I have provided below!  -Sean

$8,000 First-time Home Buyer Tax Credit at a Glance

• The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The tax credit applies only to homes priced at $800,000 or less.
• The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
• For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

• To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
• The tax credit applies only to homes priced at $800,000 or less.
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

HOME BUYER TAX CREDITS

The push for extending and expanding the Home Buying Tax Credit is well under way with a great start.  We are past the line at this point to put a home under contract and close it by November 30th to get the credit if using the traditional financing methods.  More time is needed to keep the momentum up with the purchase of starter homes.  The expansion of the bill allows home sellers that have owned a home for over 5 years to consider selling or moving up.  The goal is to open up the homes that are in the mid-range prices.  Here is the full story and check back here for updates! -Sean

Senate votes to renew tax credit for first-time home buyers

Provision for $8,000 refund part of bill to extend jobless aid

By Dina ElBoghdady

For the first time, the tax credit program would also enable many homeowners who buy a new primary residence to receive a $6,500 refund.

The measure was attached to a bill that would provide 20 weeks of unemployment benefits in more than two dozen states with jobless rates above 8.5 percent and up to 14 weeks elsewhere. Another provision in the bill would allow businesses that had operating losses in 2008 and 2009 to seek refunds for taxes paid on profits over the past five years.

The bill, which passed 98 to 0, should reach the House floor by Thursday, House  Majority Leader Steny H. Hoyer (D-Md.) said in a statement. His office said the legislation would then go to the White House for the president’s signature.

The Obama administration has previously supported extending the $8,000 tax credit, and without congressional action the program would end Nov. 30.

Under the bill, first-time home buyers would receive the $8,000 tax credit if they sign a contract by April 30 and close on it by June 30. The plan would also make those who buy a new primary residence eligible for the $6,500 credit if they owned their home for at least five consecutive years in the previous eight years.

But the measure limits the purchase price of the home to $800,000. It also imposes income caps so that people who make more than $125,000 annually and couples who make more than $225,000 would not be eligible for the program, which is estimated to cost $10 billion.

Sen. Johnny Isakson (R-Ga.), a longtime advocate of the tax credit, praised passage of the bill in his chamber but said the extension would be the last one. “Tax credits like this only work by creating the sense of urgency to take advantage of them,” Isakson said in a statement.

The tax credit and the broader bill in which it is included are part of a series of Democratic-led initiatives aimed at helping the economy and people who have lost their jobs.

The unemployment benefits of more than 1 million people would lapse without this extension, according to the National Employment Law Project, a nonpartisan group that tracks the issue. More than 15 million Americans are unemployed, more than a third of them for longer than six months.

Although the legislation gained wide bipartisan support, it had been mired in bickering for weeks as Republicans tried to attach amendments that Democrats opposed. Party leaders from both sides voiced support for the core measures.

Supporters of the tax credit, including the real estate industry, say the tax credit has energized home buyers and helped increase sales. But critics say the program is too expensive and has attracted mainly people who were going to buy a home anyway.

In the Senate’s measure, taxpayers would be able to claim the credit on their 2009 income tax return for purchases made in 2010.

Staff writer Perry Bacon Jr. contributed to this report.