We need to sell off the land at Innovation, provide more opportunity to work in the county, less commuters on the hwy, and see a big increase in commercial tax dollars.

I don’t want to pay more in taxes..my home value dropped and I shouldn’t have to pay the same as I did 2 years ago when my home’s value was substantially greater.

We don’t want irresponsible investors to pick up foreclosed property and rent to illegals, or to allow further deterioration of existing properties to occur, but at the same time we must also keep our eye fixed on greedy HOMEBUILDERS like Granville-Smith and other NVBIA members now and in the future.

Published: March 16 2008 18:25 | Last updated: March 16 2008 18:25

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them the value of equity in homes supporting troubled mortgage securities.

Home price stabilisation will restore much-needed clarity to the marketplace because losses will be realised rather than prospective. The major source of contagion will be removed. Financial institutions will then recapitalise or go out of business. Trust in the solvency of remaining counterparties will be gradually restored and issuance of loans and securities will slowly return to normal. Although inventories of vacant single-family homes – those belonging to builders and investors – have recently peaked, until liquidation of these inventories proceeds in earnest, the level at which home prices will stabilise remains problematic.

http://www.ft.com/cms/s/0/edbdbcf6-f360-11dc-b6bc-0000779fd2ac.html?nclick_check=1

Here is an example of the “aiding and abetting” that occurs:
“Rubio is alleged to have contacted an alien who worked for the company while the Form I-9 inspection was being conducted, with the intent to tip off the alien that an inspection was under way. Rubio allegedly told the alien to ‘get out of town’ along with the rest of the group, otherwise the group will likely be arrested by immigration agents due to the alien’s lack of status in the U.S.,” the release says.”

They had to be bailed because their failure would shake the very foundation of our financial system:

Wall Street Domino Theory

By JENNY ANDERSON and VIKAS BAJAJ
Published: March 15, 2008

The Federal Reserve’s unusual decision to provide emergency assistance to Bear Stearns underscores a long-building concern that one failure could spread across the financial system.

The sudden collapse of a major player could not only shake client confidence in the entire system, but also make it difficult for sound institutions to conduct business as usual.

“In a trading firm, trust is everything,” said Richard Sylla, a financial historian at New York University. “The person at the other end of the phone or the trading screen has to believe that you will make good on any deal that you make.”

“You get to where people can’t trade with each other,” said James L. Melcher, president of Balestra Capital, a hedge fund based in New York. “If the Fed hadn’t acted this morning and Bear did default on its obligations, then that could have triggered a very widespread panic and potentially a collapse of the financial system.”

http://www.nytimes.com/2008/03/15/business/15risk.html?_r=1&oref=slogin

Concerned can you tell us what was the First S&L in the DC area to go out of business in the 60’s which is when the S&L failures started? I doubt it but it was Republic Savings and Loan which operated in Md and DC. Can you tell us why the S&L failure happened? It was the tax scam started because of the Tax Laws which promoted fast write off of investments which the public wants but not to pay the price for what it truly costs

You whine like Stewart and Frederick, Marshal ,Cattigan and all the other I am better then anyone else but know nothing. It is the PUBLIC’s falut for being greddy and STUPID. Stewart at one BOCS meeting said he wished someone had told him that this was going to happen to Real Estate. Only a fool would have believed that this was not going to happen. The more greedy one is the bigger the fall as well. We have a couple more years to go before we will see any real recovery in the RE Market.

You like Stewart and the other no growth better then anyone else people do not believe in Law or rights of people. If you want to stop growth it can be done very legaly. Just limit one car per house and growth will come to a halt in PWC. There is nothing in the Constitution that would limit the BOCS to pass and inact such a law. Of course you would not do that for it would effect the value of your house. You blame developers for building then you must not want people to have children who want to live in N VA. I have lived here for over 60 years and have never complined about people moving in nor have I ever had the pompus attitude that I am so good that I should be able to tell others if they can be allowed to come here and live either.

The proffer system is a FAILURE but you and Stewart, Frederick and like minded people just keep on doing the same thing for the past 30 years. When will you learn that it does not work to have just a few people pay for the cost of all. When will you apply the cost to everything including commercial and industrial capital improvment costs/ When will you not call Proffers a Capital Improvment Tax so the Federal Government will pay for these roads and schools and such and give that back to the citizens as a refund on their taxes ? Oh helping the people is not on your agenda nor is it on that of Stewart and the BOCS !!!!!

The BOCS allows the development industry to increase supply however much they want; that supply exceeds the demand; and prices tumble.

The Constitution of the US and of Virginia is what allows any person to build on their property as dictated by the laws of each county and city. Of course you do not believe that the Laws should rule you want a lynch mob mentality when only what you think is right!!!!!!!! I have no doubt that if you owned a piece of land and the government told you you could not build because they did not want any more houses you would be madder then a wet hen. Of course you can lie and say it would make you happy to be told that.

You nor Stewart or Frederick donot want to solve the payment for Capital Improvments which could be done very easily.

The developers and their accomplices on the BOCS rubbed salt in our wounds by requiring us not only to pay higher taxes to support public services for the occupants of the new homes, but also to subsidize their cheap, illegal alien labor through their use of public services, free medical care at our hospitals, and overcrowding in our schools.

NO one has made the money off of houseing TAX FREE as have the home owners. The first town houses in Ashdale sold for the low to mid 20’s when built and now sell for over 200K. No one paid a penny on that profit it was all tax free. They sure got the benefit of all the increases in amenities in the county which helped increse the value. At least the people who sell their land pay Fed and State Taxes on that profit and the builders pay taxes on all the profit you claim they make but that is how it should be.

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The developers’ representatives on the BOCS have been trying their best to open the Rural Crescent to residential development, exemplified by recent actions such as Fireside Wesleyan Church. That episode was made even more detestable by the pro-developer supervisors exploiting well-meaning church people to achieve their agenda. Witness also their success in reducing land targeted for parks. An acre open to the public as a park is an acre a developer can’t build on.

If you want an acre of land for a park then you buy it. how would you like it if I just said I want have of your property to be used for the public but I will not pay you for it just take it?

How would you like it if the government passed a zoning that only allowed you one parking space on your property and none in the street and took away the value of your land? You would be PISSED but it seems that is OK when it happened to the people in the Rual Cresent.

It was a great statement you said as listed below to bad you do not know your history and are willing to repeat it over and over and never get it right.

Remember that there is no new history, only repetition of what we’ve seen before.

Concerned,
WOW–Spot on! You definitely have your finger on the pulse of Prince William!

Mark Granville Smith is also on the Board of the Prince William Regional Chamber of Commerce and has recently teamed up with the another Board member who chairs the Economic Development Council named Miles Friedman.

Miles Friedman is using the churches in an affordable housing scam that is county funded to bring sewerage to the rural crescent. Thankfully Wally Covington is on to it, but I just don’t know if he can stop it. The county has aready given Friedman a quarter of a million dollars of which he paid himself $160k in consulting fees. Talk about a conflict of interest and bad use of our tax dollars!

Gerhart, the county CXO is aware of this, and Friedman and Partners recently merged with MDA Technology, another board member of the Economic Development Council and Prince William Regional Chamber.
They’re going after the rural crescent. You betcha.

Add Nohe to the list, another PWCRC Board member and strategic operative!

Can you say FOIA!

BSC practiced bad behavior - and they are being bailed out - they should be punished - they were raking in the dough, and paying their big bonuses on wall street - all the while they were creating a mess of our banking system. Lets just watch - BSC will still pay out their bonuses for outstanding performance - and we need to pay these bonuses to attract high quality individuals to work here

The same thing Bernanke asking the mortgage lenders to remove principal from the loans that are in trouble - I chose my house and mortgage because I could afford them - where is my principal reduction? I would gladly have it reduced - I also overpaid for my house.

Stocks Drop As Investors Fret Over Bear Sterns
The Dow Closed Down More Than 194 Points on Friday

By TIM PARADIS
AP Business Writer
March 14, 2008
NEW YORK (AP) — Stocks have suffered another big drop after a plan to alleviate a liquidity crisis at Bear Stearns Cos. touched off concerns about the severity of the credit market’s overall troubles.

Friday’s plan by the New York Federal Reserve and JP Morgan Chase & Co. offers Bear Stearns relief from a sudden liquidity crunch that analysts surmised could have felled the investment bank. But the company’s position on the precipice of financial disaster has left many investors shaken and spoils some hopes that the moribund credit market is on the mend.

http://abcnews.go.com/Business/Economy/story?id=4454073&page=1

This is extremely disturbing news. What’s happening is, investors are bailing out of the market and the Feds are having to bail out the investment houses.

Could runs on banks be next?

My suggestions to make a car last a long time:

1)Check the oil level at least once a month and add oil if it’s low. Change the oil as often as specified by manufacturer recommendations, using API SL or SM certified oil. (Off-brand oil that does not meet API specifications is available; check the label to avoid using this stuff.) If you have a diesel rig you should make sure to use a diesel engine oil. API CI-4 Plus is the latest spec for diesel engine oil.

2)Change the coolant (I do it every 3 years). Coolant looses it’s corrosion protection as it ages, which can cause your engine’s cooling system to rust, and older coolant formulations have silicates in them which can fall out of suspension and damage water pump seals, making them leak. The silicates form abrasive particles much like sand. If you need to top off the cooling system use premixed coolant or mix the coolant with distilled water (half water/half coolant). Continually topping off a cooling system with tap water will result in mineral buildup.

3)Change the transmission fluid and the filter. Many owner’s manuals claim the transmission fluid is a “lifetime” fluid and never needs to be changed. Yea, right. I’d do this every 50K at least, “lifetime fill” or not. Transmission fluid is cheap, transmissions are not.

4)Bleed the brake fluid every 4 years. Brake fluid absorbs moisture. This can promote corrosion in the braking system. If the car is a stick shift it probably has a hydraulic clutch that uses brake fluid too and it should be bled as well.

5)Rinse the underside of the car after salt has been used on the roads in winter.

6)Most car batteries, even ones sold as “maintenance free” can have water added (use distilled water). This makes them last longer and reduces the chances of an internal battery explosion. Submerged plates won’t spark and explode–there’s no air for that to happen, but they can if they’re exposed to air because the electrolyte level is low. The vent caps (usually there are two per battery, each covering three cells–they usually have the warnings printed on them) can be pried off with a screwdriver, then add water until the electrolyte is level with the bottom of the well.

7)Have the battery tested at least twice a year and at the first sign of any battery problems. A bad battery can kill a starter or alternator. Don’t be cheap and continually jumpstart a car because you don’t want to buy a new battery. You’ll soon be buying both a new battery and a new alternator.

In addition to more bank owned properties, look for numerous short sale properties. Shorts are gaining in popularity and lenders would actually rather deal with a short than a foreclosure. Shorts are difficult and tedious work, not to mention extremely frustrating for all parties involved. Not all REALTORS are handling this type of work because the commissions are low and work long. But it can be done and is better for the seller. Sellers get dinged on their credit, but it doesn’t show as a foreclosure.

Of course, many of our more culturally diverse neighbors really don’t care about their credit.

Exactly, because people do not value such items any longer. We have become a disposable society. But, if they were built better, meaning, if they were still built here in America, they would last. However, we would rather buy multiple numbers of one item then to spend more money on just one.

On a similar note, people complain about the cost of one gallon of gas, but will gladly spend $4.00 on a cup of coffee from Starbucks, or will spend two dollars for a 16oz bottle of water.

We throw them away because it costs more to have one fixed than it costs to just buy a new one.

China is going to be our undoing.

You are right. Of course there are some items that have to be purchased on credit. The other issue that needs to be addressed is the cheapness of many items being made these days. People do not think twice about tossing an $80.00 DVD or CD player out if it starts to act up. Back when the majority of goods were made right here in America, they were made to last, and people kept them for years. Now that most items are made in Red China, the quality has gone way down.

I purchased a snow shovel back in 1996 during the back to back snow storms we had, I believe I paid something like $40(I can’t recall the exact price, but I do remember it was pretty expensive), but it was made here in America and it was solid. I still have it. I wonder about the folks who at the same time purchased the cheapo ones from China and how many more they have had to purchase over the years.

I usually keep my cars 8 to 9 years or more before I decide to buy again, and I buy only Ford or GM products.