Linky Dinks: Saturday Edition

Thanks to Deborah B. and Sherry for linking to the news coverage of the Thursday Swearing-In Ceremony. Here they are:

Daily News Journal: Mosley, Farmer sworn in; board adds Broeker

The board is also taking a closer look at how money is spent at city hall. Currently, purchases up to $10,000 can be made without a formal bid. The board dropped that figure to $5,000.”That gives our finance people a little more control, especially when money is tight,” Mosely said. “I think people are tired of the phrase, ‘That’s just the way we’ve always done it.'”

WKRN, New Mayor Takes Office (links to video from Channel 2)

20,000 Homes Will Sell This Weekend in the U.S., Will Yours?

Boston Globe, National Geographic’s Photography Contest 2010

BBC News Africa, Rape Victim Charged with Having Underaged Sex

Harvard Business Review, Six Keys to Being Excellent at Anything

  1. Pursue what you love. Passion is an incredible motivator. It fuels focus, resilience, and perseverance.
  2. Do the hardest work first. We all move instinctively toward pleasure and away from pain. Most great performers, Ericsson and others have found, delay gratification and take on the difficult work of practice in the mornings, before they do anything else. That’s when most of us have the most energy and the fewest distractions.

Hyperbole and a Half (Trust me, if this isn’t on your list of favorite websites, it should be)

Flavorwire, Crayon Pixel Portraits (While you’re at it, add Flavorwire as a fav link!)

Thanks to Brittney G. for many of these great links. Have a great weekend!

2 comments for “Linky Dinks: Saturday Edition

  1. michaelinLV
    November 23, 2010 at 12:47 pm

    I'm a little behind on my reading, but I had to address the blog about 20,000 houses selling this weekend.

    Here's a quote – "You must weigh the cost of selling today (a reduced profit on your home) against the cost of not getting on with your life. There is no doubt that money is important to everyone, especially today. Being able to follow your plans and dreams is also important however. Don’t allow money to ultimately control that decision."

    Kathy, I know you're a realtor so don't take this personally, but is this really what realtors are advising their clients to do?

    I have a friend who would love to sell his house. He bought the home for about $180k in 2007 at the peak of the market., and currently has it listed for about $160k, and comparables in their neighborhood are selling for $120k – $130k. So acording to this author, my friend should just take a $50,000 loss so he can "get on with his life?"

    In fact, my friend's realtor has advised him to stop making the mortgage payment and push for a short sale, he said that short sales are the only things moving right now. So my friend should not only lose $50k, but should also wreck his credit and financial future so he can "follow his plans and dreams?"

  2. November 23, 2010 at 1:14 pm

    I find it appalling that a Realtor would advise anyone to stop making a mortgage payment. I would never NEVER suggest this to anyone. When someone signs their mortgage papers, they are entered into a legal contract to make those payments toward the purchase of a home. Sometimes life does intervene: job loss, medical emergency, relocation, etc. However, if you are able to make the payment you should… that's what you agreed to do even if the house has lost market value.

    That said, sometimes people do have to make hard decisions to move or sell. You do not have to skip a payment for your house to go "short sale" … all a short sale means is that the lender will take less the amount owed once a house sells … or it is "Short" the payoff. If you can demonstrate the current value of the home is less than the amount owed, then the bank will consider agreeing to a short sale.

    Going short sale will negatively impact a credit score, but not as much as a foreclosure would (which WILL happen if someone stops making payments). By skipping payments AND going short sale, you will face a double whammy on your credit score – the late or non-payments AND the short sale.

    I can't even count the times I've given the following advice: If you don't have to sell right now, don't sell. The market will come back. It may take 3 years, 5 years, 10 years but meanwhile keep making your payments (it *is* what you agreed to do when you got that home loan) and just remember that you didn't buy an investment… you bought a home.

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