Edwin Gerace

By request and demand people have asked for my recipe of my

EDWIN FAMOUS EGG NOG

Disclaimer: This is for adults only

• 8 Eggs
• 2 Cups of Sugar
• 1 Pint of 1/2 and 1/2
• 1 Pint of Whipping Cream
• 1 Cup of Bourbon
• 1 Cup of Rum
• 3/4 Cup of Brandy

STEPS

1. Separate Eggs in 2 Bowls
2. Mix 1/2 & 1/2 and Whipping Cream and sugar in 1 Bowl ( LARGE BOWL)
3. Bowl of Yellow Eggs mix in Bourbon (THIS IS THE MOST IMPORTANT STEP, YOU MUST DO VERY SLOW, LIKE A FAST DRIP OR VERY SLOW POUR AND YOU MUST WHISK AT SAME TIME TO PREVENT SCRAMBLED EGGS)
4. Add Rum with the same caution as Bourbon
5. Add Brandy
6. Fold the bowl of liquor into the the Large bowl ( Creams)
7. Bowl of Egg Whites whip to a Foam
8. Fold Egg Whites into Large Bowl
9. DONE and ENJOY

Some Extra Tips

• Blend the Alcohol VERY SLOW
• I whip the whites and take out the foam and whip the whites that didn't get good and whipped (100% whipped whites)

Ding Dong The Election is done............

It is on the web, newspaper, radio, and water cooler about the economics of our country. It is a battle of arm chair quarterbacks vs back seat drivers.

Everyone has an opinion. My thoughts are not what everyone would agree with or some say I need to be an economic adviser to The President.

Example of our times. As a Realtor a buyer was declined a mortgage on a new home while putting over 60% down payment. This would be there 2nd home and was out of state, but only mortgaging 40%. " Things that make you say Hummm". Now here we are with great credit worthiness person and an economy that is wanting home buyers, and someone that tells them NO.

I was listening to my XM radio and hearing people voice their opinion on what it will take to fix our economic situation. I listened for couple hours a day over last week and the consistent thing was, something has to be done. As one reporter made a great point that the same bank that is getting help from the Bail out money are the same banks that are trying and working toward getting more deposits and less efforts to loan money. So in a nut shell banks want the free money but don't want to give out any (or as much as they receive). Maybe that is to keep the bank alive and pay off the corp exec large yearly bonuses.

I discovered many things over last couple months after reading and listening to many different speakers, some of which I agree with but most of them have components that have merit. They are as follows. 1-Putting money into a banking system that is not eager to lendmoney might not be the answer, but it will put some liquidity into the system that will help other fronts. 2- When an economy is in a recession the one true factor that makes brings us out is Real Estate. 3-The federal government needs to abandon the $7,500 tax break program, it is not being utilized. 4- Government backed LOW interest rates i.e. 4% need to be introduced immediately. 5- Incentives to home ownership need to be increased in the form of tax savings for purchases made over next 120-180 days. 6-More efforts to promote great opportunities in real estate not doom andgloom in the media, Government paid AD's. 7- Partnership with small builders and small mortgage companies to offer great opportunities, not just FREE money.

With all this being said, I must repeat what I believe and have been telling Realtors, friends and family for last 90 to 120 days. Buy Now, Interest rates are low and Sellers are motivated. The opportunity to buy low is upon us. The only way you know the true bottom is when it past you. Do you buy stocks when they are at their top and everyone is buying them to driving the price up? Buy Now build now.

Edwin

I have recieved many emails in this subject for New Realtors and how to make a living. Well I was in your shoes and some days I feel I am still in your shoes. I moved to Columbia, SC and began real estate. It was touch and go financially for me but now 7 years latter people think I have lived here my whole life due to the volume of people that I know and relationships I have made. Here are some of my tips that I have learned and concurred. I have to toot my own horn but I feel comfortable saying this " I am good at this relationship business". I actually am now coaching agents (cheaply) that are new and want to get started. because I do want agents to succeed and be successful.

Some keys

1. THE # 1 RULE " BE SEEN, AND SEE", what does that mean? Go to every chamber,town, local event you can. Bring your family to the family events. Go to Town meetings. Join the chamber, be an ambassador if they have such program for them. Let everyone in the chamber know you are a Realtor. Cause there are 100's of Realtors in chambers but there is only a hand full that are involved. Be that involved Realtor.
2. INTERNET INTERNET..... Learn what web 2.0 is and get your name out there. If you have no listings borrow (with permission) and market them. There are to many sites to mention that are FREE and you can become the professional. Brand your name on the web. Get multiple domains and for different reasons to see what works. For example I have www.609sold.com that is just for MLS Searches it is done through our MLS and the feed is like $100 but the site is framed from another one of my sites that has more stuff but I have it our there.
3. STAY OUT OF OFFICE(except for duty time) BUT GO TO WORK. If you are in an office that has allot of new construction offer to work or sit there. Example work Mon,Tues in subd X from 9-5. You have a better shot for a buyer there than you do at home wondering what to do.
4. If your office has duty time, get as much as your broker will allow.
5. Create a mail out. Now let me say, I personally am not a fan of Newsletter sent about fudge brownie recipes, or pre done marketing, or worst do one time and never do it again. What I have done with success is pick 2 communities and give them DATA. I tell them how many homes have sold over last year, homes prices currently. Then my token last line is something like 6 homes sold this year in your community, There has be 2 sales so far this year. Do you want to be one of the other 4 that sells? I do it in a form format that i change the data and poof it is gone.
6. Brand with a industry, what I mean is pick something, cause picking nothing doesn't work. IE Grocery Store Managers, Local Police, Manufacturing, just what fits your market. And for example I mail to all the grocery store managers that I am the local expert and want to come talk to you about real estate. I offer to buy them lunch away from work and talk about the direct correlation between home ownership and employee retention. It is a fact. People work more and stay employed when they own a home. Offer to speak at meetings, offer to host a employee appreciation bowling day, give him a reason to remember you.
7. Treat all people equal, cause the person that you think couldn't buy a house might have a friend that can. Example had buyer 5 years ago that was rude and just not right in many ways wanted to see a home at 5pm on a Friday. I couldn't give the lead away for 3 days. I went and showed it to her, and over the next year we did 6 transactions together and 2 of them were my own listings. So it does pay
8. Lastly SEND THANK YOU NOTES TO ALL YOU MEET AND SEE WITH A BUSINESS CARD

Edwin Gerace, CSP,ASR,GCREP

www.EdwinGeracesrealestateblog.com www.edwingerace.com www.609sold.com

Are you aware of what the government is doing to help people buy homes? They are giving up to $7,500 Tax Credit to NEW FIRST TIME HOME BUYERS. This is good news has made its way into the real estate arena this summer -- in the form of the Housing and Economic Recovery Act of 2008. What does this Act mean for you?

It means a lot if you are in the market to be a first time homebuyer -- up to a $7,500 tax credit if you purchase before July 1, 2009. And there's more good news. First time homebuyers is defined as, "a buyer who has not owned a principal residence during the three-year period prior to the purchase."

What this does is helps people that are trying to achieve the American Dream.


PER DOCUMENTS FOUND ON THE WEB:
In order to receive the tax credit you must have purchased your home -- single-family detached, townhouses and condominiums, manufactured homes, and houseboats -- between April 9, 2008 and July 1, 2009. Purchase being the closing date.

You must also meet income requirements. But even if you are over the modified adjusted gross income level of $95,000 (single) or $170,000 (married), you may be able to receive partial tax credits. The full amount of credit is available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). This phases out above those caps ($95,000 and $170,000, respectively).

And getting started with the tax credit program is simple. You claim the tax credit on your federal income tax return. That's it. It doesn't require any other confusing, fancy paperwork.

You can even access the funds quick -- instead of waiting to file your return. The NAHB reports, "Buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the future home buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment. Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding."

What's tricky about this Act -- its a tax credit, meaning that you must repay the government either over the next 15 years (no interest charged), or when you sell the home, if there were sufficient capital gains from the sale.

The NAHB gives this example, "A home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven."

So why do you have to repay this credit? Because this is just that -- a credit, not a deduction. The government's hope is that this credit will stimulate the housing market ... and in turn the economy. By providing first-time home buyers with a little financial boost -- remember it's interest free -- it could do just that.

FOR EXACT INFORMATION CONTACT EDWIN GERACE AT RUSSELL AND JEFFCOAT REALTORS.....


Edwin Gerace
803-609-7653
mail@609sold.com
www.edwingerace.com