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Monica McNamara

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Event News - Air Show Returns To Ocean City, Maryland

05-24-09
Monica McNamara

I had the opportunity to see the air show last year, and it was incredible. This year there have been many more demonstrations and performers added to the program. It's a must see.

The three day event is June 12-14, 2009. Friday night is a kick off party on the beach, where the United States Army Golden Knights parachute team, will "drop in" on the festivities. There will be air craft and performers from all five branches of the military, including the United States Coast Guard. The show runs for four hours on both Saturday and Sunday from noon to 4 p.m. The United States Air Force Thunderbirds will fly by as the finale act in each show. Other performers include the Air Force Reserve biplane and many civilian stunt flying teams.

There will be displays set up at the inlet parking lot and on the streets around the show center at 16th Street and the boardwalk. Restaurants up and down the boardwalk will be hosting "meet and greets" throughout the show. It's guaranteed to be a lot of fun for all.

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Virtual Currencies? Is This Like Monopoly Money?

05-19-09
Monica McNamara

Virtual Currencies

Virtual on line currencies exist only on the internet. Social networks, such as a site called hi5, sell a currency called hi5 Coins, which enable its users to buy gifts on line. These purchased gifts appear digitally on the recipient's profile. The person doesn't really receive anything it's only an image on a web site.

Sounds pretty strange huh..... I have been reading that currencies that exist only online are becoming a more significant part of doing business on the Web, and some even in the real world.

Several online currencies are rumored to be competing to be the "dollar" of choice for Facebook and MySpace. Other social networking sites, like hi5 and Yearbook have created their own units of money.

Some experts predict a point in the future, where virtual currencies may enter the same trading space as true real world money. Virtual currencies are certainly not competitive now, but there is a large amount of these monies that are currently fueling online gaming sites and other social networks. Sites may hope to make as much money from their virtual currency as it does from advertising.

Facebook made a statement on a large news site saying that it is researching the idea of creating a unified currency, but it is "very early" in the process, and is not committed to it. Wow. That could be huge.

I can only imagine the many legal ramifications and opportunities for fraud just like problems we have now with the real economy, i.e. - taxes, interest rates, inflation,etc.

I guess we all need to stay tuned. This will be big. People are taking their online identities more and more seriously. This is a not a topic to be dismissed.

3 Comments
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How Much Do I Need To Put Down On My Condominium Purchase?

05-18-09
Monica McNamara

Just a little "tidbit" of info that I garnered today that I thought I would pass along.

Lending guidelines have become more stringent with our current market conditions. But I seem to learn something new all the time.

It is my understanding that some states have a "no exception rule" to the 20% down payment requirement if that lender is selling the loan on the secondary mortgage market. Now I know that Florida is one of those states, especially in the condominium market.

Fortunately, Maryland is not.

If you are considering a second home or investment property at a beach resort, you can still obtain 90% financing in Ocean City, Maryland.

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What is Twitter?

05-16-09
Monica McNamara

Do You Use Twitter?

I am always curious how individuals in different walks of life utilize things. Anything...from a new lawn mower to a great new wok that they are finding exciting recipes for, to a super high end stereo system, to a not so little tiny application called Twitter.

I had lunch the other day with our oldest son, and he brought a friend of his. This young man is a newly minted medical doctor. He's extremely intelligent, motivated and who I would consider to be a very savvy individual. He has a cell phone and a computer. Interestingly enough in the course of our conversation, he asked me the question, "So what is Twitter? And why is everyone talking about it"?

Now I am no expert, and just because I occasionally chime in with a tweet or two, I really don't consider myself that well versed. But I gave it a go to explain the Twitter mania.

I gave him the Wikipedia definition of Twitter... free social networking and micro blogging service that enables its users' to send and receive updates from each other known as Tweets.

He looked at me kind of strangely and said why would you want to do that? Well, I said, you might what to know what your friends are doing without calling them. You probably have friends/family and business associates all over the world, and would want to know what they are doing, stay in touch with them, or ask them for their help or advice. Twitter is like asking someone what are you doing right now, and in 140 characters or less you get an answer. Or you tell those that matter to you what you are doing right now. I told him if you sign up for Twitter, you will see that Twitter posts look a lot like blogs, but with very little content in the message, so it makes it easy and quick to stay in touch. Each page is personal and has updates from your chosen friends. You can look up to see who you know is using Twitter, and then you can "follow" their updates to see what is happening in their day to day life. I told him that you find out fun facts about others. Like your buddy in Maryland is reading this great new book, or your old college roommate who moved to Virginia is now getting married, and so on.

For business, I told him, I use Twitter to talk about my latest new listings and blog posts, and easily interact with my customers. Staying in touch and communicating with those that I work with is critical, and my clients love the personal interaction.

He scratched his head, looked at me quizzically, and said, "I think I am beginning to get it". I smiled to myself. I was happy I was able to help him understand "What is Twitter".....

Then I said, "Now if you want to Follow Me on Twitter, just click on this link and you will receive my updates".

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Stimulate Home Buying; How Can Government Help The Housing Market - Musings from MidYear

05-14-09
Monica McNamara

The 2009 Mid Year Legislative Meeting of the National Association of REALTORS is from May 11 - 16, 2009 in Washington, D.C.

I have been following the proceedings on line and found comments very interesting coming from those in attendance, and thought I would pass some of these comments along. As a real estate agent, and a homeowner and investment property owner, I feel some of the same sense of frustration.

Comments from DC:

•· A much more streamlined short sale process.

•· Great confusion amidst consumers regarding the $8000 home buyer credit.

•· Government should extend the #1 - amount of the home buyer credit. #2 - the length of time to use the credit, and #3 - make that credit available to a larger buyer pool, not just 1st time home buyers.

•· Create greater overall incentives for buyers to want to buy real estate. i.e. - tax breaks, more deductions, etc.

•· Let's stimulate buyers to want to buy. That will help our overall economy.

•· Make getting loans way less complicated then it has become in today's world. There are qualified purchasers out there; many do not want to go thru the exhaustive process it now takes to get a loan.

Chime in with your feedback. Let's talk these issues up!

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