Money Blue Book

This is for those of you who missed out on the real estate boom of the last few years. I think you’ll know where I’m coming from.

Back in 2004 I was feeling downtrodden. I was only very recently a year out of graduate school and already my friends were snapping up properties left and right. I know it’s not good to be envious of others, but I felt like I was missing out on the greatest boom of the decade.

A few of my friends and acquaintances at the time were making lucrative incomes by flipping houses, and perfecting the art of buying distressed properties, fixing them up, and selling them for quick profits. Some were even working on the side and making good money as house appraisers. I even knew a few people who took trips to Miami and Las Vegas to take advantage of the red hot housing markets there. Many were putting money down for pre-construction condominium projects that gained in market value even before the contract ink was dry. During the boom, it seemed like everyone was making money off of paper gains due to rapid appreciation of housing prices.

Great Real Estate Investing Opportunities Opening Up

Now, everything has changed. The real estate market has cooled and completely caved inward. Housing values are depreciating and foreclosures are up.

In the midst of this doom and gloom, I can crack a smile. The opportunistic eager beaver in me knows that my time to shine will soon be near. Am I being mean by thinking like this? After all we live in a capitalistic society. Even our stock market is based on the efficient concept that for every seller there will be a buyer. The market sets the price. I didn’t do anything to cause real estate prices to tank, but I will certainly be there to catch and cradle the bargains after prices have made their 50 percent drop. It certainly won’t be that much, but the greater the drop the better.

The Real Estate Bear Market Is Not Close To Ending Yet

I currently rent a one bedroom in a brand new condominium complex that many speculators were buying for exorbitant prices during the boom. Now the trapped sellers have been forced to rent them out due to the stagnating real estate market. However, I can tell they are now trying to wage a comeback, but I don’t think many of them will succeed. There are simply too many sellers in my complex and not enough buyers. I can tell the number of condo sellers in my building is starting to grow by the increasing number of padded lock boxes that I see on the gated fence entrance to my building. If you don’t know what I’m talking about regarding the lock boxes, here’s an article to enlighten you. They would probably need to slash prices by 30% before I’d even consider making an offer. I guess I like to play hardball. It’s good to be a buyer in a buyer’s market.

Okay, it’s time I joined the personal finance blogging community. I’ve been writing and posting quietly to myself like a hermit in my cave and I think it’s time I shared more about myself.

I’ve been tagged by Pinyo at Moolanomy to reveal 7 random things about myself. I’m not sure what people would want to know about me so I decided to include a wide assortment.

1. I have a bachelor’s in finance and a J.D. degree – This means I’m an attorney with a business background. My current full time job is only partially related to the legal field however.
2. I look very young – I am in my late 20’s but can easily pass for a college student. I’m not joking. I get still get carded sometimes.
3. I’m a big Redskins and Wizards fan – Got to support the local teams. My Skins are looking good this year!
4. I used to be a huge computer gamer – I started with computer role playing games and graduated into Starcraft. I still have fond memories of playing until the wee morning hours and somehow still making it to class.
5. I own a parrot – I’ve had my parrot for many years now since college (yes he talks and whistles). I remember sneaking his cage into the dorms during college and pulling it off for a whole school year. I wasn’t busted until the last week of school. Good times.
6. I play the drums – I used to play the drums in my church’s praise band until recently. I’ve taken a few months off but might return in the future.
7. I’m a runner – I ran cross country during high school and I still run today. I’ve ran half marathons before but haven’t attempted to challenge myself by running a full 26 mile marathon yet. I plan on doing that one day.

That’s about it for now!

Um…I looked around and I think nearly everyone has already been tagged at least once. Please let me know if you haven’t so I can tag you. Like a hot potato, I’ve got to pass it on!

I used to fly a lot and racked up a lot of frequent flyer miles over the years, but now I have to be extra careful. Airline travelers who don’t use their frequent flyer miles…well, frequently, may soon discover that their miles have expired. It is a growing trend, but airlines have shortened the time period that an account can remain inactive before miles expire. In most cases that time period ranges between 1 to 2 years.

Here Are the Expiration Policies For Some of the Biggest Airlines:

1. AirTran: Points in A+ Rewards expire after 12 months.
2. American Airlines: AAdvantage ® miles expire after 36 months of inactivity.
3. Continental Airlines: OnePass miles do not expire. There is a written policy that says they do, but the airline does not enforce the policy.
4. Delta Airlines: Delta SkyMiles expire after 2 years of inactivity.
5. JetBlue: TrueBlue points expire one full year from the date that they are earned.
6. Northwest Airlines: Northwest WorldPerks miles expire if none are earned for 3 calendar years.
7. Southwest Airlines: Rapid Rewards points expire after 2 years.
8. United Airlines: Mileage Plus miles expire after 36 months of inactivity. Starting December 31, 2007, miles will expire after 18 months of inactivity.
9. U.S. Airways: Dividend Miles expire after 18 months of inactivity.

How You Can Easily Prevent Mileage Expiration

The way to prevent your miles from lapsing due to inactivity is to simply generate miles-earning activity for each airline that you have an account with. Other using than using a specialized miles-generating credit card rewards like the Starwood Preferred, another relatively easy way is by making a purchase at the airline’s own shopping portal, where you earn miles for each purchase. This will allow you to earn a few miles, enough to reset the inactivity clock. Most of the popular stores such as iTunes, Best Buy, and Circuit City can be found at each airline’s shopping website.

Links to the Major Airlines’ Shopping Websites:

• American Airlines: AAdvantage ® eShopping
• Continental Airlines: ShopOnePass
• Delta Airlines: Delta SkyMile Shopping
• Northwest Airlines: WorldPerks Mall
• United Airlines: Mileage Plus Mall
• U.S. Airways: Dividend Miles Shopping Mall

Make Sure Your Purchases Count To Reset the Account Activity Clock

1. To ensure that you receive mileage credit for the purchase made through the airline’s shopping portal, make sure your shopping cart is empty before doing the click through. For example, don’t visit Best Buy, add something to your cart and then revisit Best Buy by clicking through the airline’s shopping portal website. You may not receive mileage credit for the items already in your cart. Visit the store through the airline’s website first before making purchases to receive proper mileage credit.
2. There is no minimum mileage you need to earn to reset the inactivity clock. If you can make a quick purchase for a $1 item that allows you to accrue a few miles towards your frequent flyer plan, that is sufficient to reset and prevent expiration.
3. One way to track your miles and monitor your most recent activity in each of your frequent flyer accounts is by using USA Today’s downloadable MileTracker application.

I was a late comer to the cell phone scene, but once I got the cell phone I ditched the traditional land line. Today, I only use cell phones and my high speed internet service. Who wants to pay for an extra land line?

I have not owned a traditional land line phone since I started using a cell phone more than half a decade ago. Frankly I just don’t see the need to have an extra line that can only be used at home. I know advocates of land line service point out that wireless phones can be unreliable and that for emergencies it is best to have a land line, but in my opinion, my most potentially critical emergencies aren’t likely to occur at home. My crucial times of need will likely occur on the road or somewhere far away from traditional phone lines when I may need to summon help from afar. At that time, only my trusty cell phone will do the job and my clunky land line sitting at home won’t do me any good.

I’m Not Alone And I’m Part of A Trend

Apparently, I am part of a growing movement towards cell phone only households. According to a recent study by Mediamark research, a firm that has been tracking such data since the mid 1980s, the firm found for the first time that cell-phone only households were starting to outnumber land line-only homes. More than a quarter of young adults have only cell phones, making them the leading edge of a strengthening move away from traditional landline telephones. The trend will no doubt sure to keep moving in that direction as more young adults who rely on cell phones don’t see the need for a landline and the extra bill that comes with it when they start paying rent.

Anybody still holding onto their traditional land line?