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Obama wins, fiscal cliff looms | Katonah Realtor
President Obama thanked his supporters, spoke about unity and said he wants to work with Republicans and Democrats to move the country forward. He also said he plans to meet with Mitt Romney to discuss how they can work together.
President Barack Obama faces a new urgent task now that he has a second term, working with a status-quo Congress to address an impending financial crisis that economists say could send the country back into recession.”You made your voice heard,” Obama said in his acceptance speech, signaling that he believes the bulk of the country is behind his policies. It’s a sticking point for House Republicans, sure to balk at that.The same voters who gave Obama four more years in office also elected a divided Congress, sticking with the dynamic that has made it so hard for the president to advance his agenda. Democrats retained control of the Senate; Republicans kept their House majority.
House Speaker John Boehner, R-Ohio, spoke of a dual mandate. “If there is a mandate, it is a mandate for both parties to find common ground and take steps together to help our economy grow and create jobs,” he said.
Senate Republican Leader Mitch McConnell of Kentucky had a more harsh assessment.
“The voters have not endorsed the failures or excesses of the president’s first term,” McConnell said. “They have simply given him more time to finish the job they asked him to do together” with a balanced Congress.
Obama’s more narrow victory was nothing like the jubilant celebration in 2008, when his hope-and-change election as the nation’s first black president captivated the world. This time, Obama ground it out with a stay-the-course pitch that essentially boiled down to a plea for more time to make things right and a hope that Congress will be more accommodating than in the past.
Even his victory party was more subdued. His campaign said Wednesday that 20,000 people came to hear his speech in downtown Chicago, compared with 200,000 four years ago.
The most pressing challenges immediately ahead for the 44th president are all too familiar: an economy still baby-stepping its way toward full health; 23 million people out of work or in search of better jobs; civil war in Syria; a menacing standoff over Iran’s nuclear program.
Sharp differences with Republicans in Congress on taxes, spending, deficit reduction, immigration and more await. While Republicans control the House, Democrats have at least 53 votes in the Senate and Republicans 45. One newly elected independent isn’t saying which party he’ll side with, and North Dakota’s race was not yet called.
Obama’s list of promises to keep includes many holdovers he was unable to deliver on in his first term, such as rolling back tax cuts for upper-income people, overhauling immigration policy and reducing federal deficits. Six in 10 voters said in exit polls that taxes should be increased, and nearly half of voters said taxes should be increased on incomes over $250,000, as Obama has called for.
“It’s very clear from the exit polling that a majority of Americans recognize that we need to share responsibility for reducing the deficit,” Maryland Rep. Chris Van Hollen, the top Democrat on the House Budget Committee, told CNN. “That means asking higher-income earners to contribute more to reducing the deficit.”
But Sara Taylor Fagen, who served as political director in President George W. Bush’s second term, warned the current White House to pay heed to the closely divided electorate, a lesson her party learned after 2004. With 98 percent of precincts reporting, Obama had 50 percent to 48 percent for Romney.
“It’ll be interesting if the Obama team misinterprets the size of their victory,” Fagen said. “I think if you look back at history, we pushed Social Security and the Congress wasn’t ready for that and wasn’t going to do it. And had President Bush gone after immigration, we may be sitting in a very different position as a party.”
Obama predicted in the waning days of the campaign that his victory would motivate Republicans to make a deal on immigration policy next year to make up for having “so alienated the fastest-growing demographic group in the country, the Latino community.”
Former Mississippi Gov. Haley Barbour agreed that a lesson of 2012 is for his Republican Party to change the party’s approach on immigration.
“Republicans say, ‘We don’t want to reward people for breaking the law,'” Barbour told CBS. “The way we need to look at it is, how are we going to grow the American economy and where does our immigration policy fit into that?”
Even before Obama gets to his second inaugural on Jan. 20, he must deal with the threatened “fiscal cliff.” A combination of automatic tax increases and steep across-the-board spending cuts are set to take effect in January if Washington doesn’t quickly reach a budget deal. Experts have warned that the economy could tip back into recession without an agreement.
Newly elected Democrats signaled they want compromise to avoid the fiscal cliff.
Goldman Sachs says If You Make Over $250K, Your Taxes Are Going Up | Chappaqua NY Real Estate
Touch me, feel me? | Cross River NY Real Estate
You obsess on product, tweaking it to perfection.
You slave over your service, honing it to deliver a razor-sharp slice of delight.
You market your goods, crafting the most inviting offer.
You think you’ve nailed the customer experience.
Not so fast, Timmy.
No nutritional value
Jeff Smisek, United Airlines’ CEO, spoke at me from the screen. He labored on about the improvements his airline is undertaking just for me.
It was all talk.
Gate 16 had one electrical outlet — a droplet for the dozens of thirsty travelers in need of juice. Boarding was painfully slow. The cabin reeked of locker room sweat and mildew.
The onboard service ran out of real food by the time they reached my row. I was offered Pringles. I passed. They had the same nutritional value as the scuzz caked onto my seat.
The week prior I was on a Virgin flight. It was heaven. This week, I was in hell.
Virgin created heaven by attending to the simple things. Things they know turn us on. Things attainable by United — or any airline — if they reached high enough.
Brand vibes
Ever walk into a place and it just feels wrong? Think Rite Aid. Radio Shack. Payless Shoes. Toys R Us. Denny’s.
Each of these establishments offers the things you’ve entered to acquire. Yet something about the vibe is off. The way things are laid out or designed or the aura the store projects just doesn’t play to your sensibilities. Or to your desire to feel special as their customer.
Instead, you feel like a number. Part of a faceless herd.
Ever go somewhere you never wanted to leave? We all have. These are the places that attend to those little things that make us feel special. The details add up.
For example:
Whole Foods. You shop for more than food at this grocery store. You go to rediscover sustenance. Meet new brands. Local purveyors. Secure the finest ingredients. You leave with items that were never on your list.
Car2Go. It’s transportation, environmental commitment and personal convenience. Avis tried harder for 66 years. Car2Go is trying a lot harder. And they’re winning loyal fans wherever they go. They’ve simplified process and price and made it easy to be environmentally responsible. That feels good.
Four Seasons. Enter the front door. Serenity. Their service bar is high. And it’s consistent. You expect to feel good during your stay, and you leave happy.
Virgin. Their presence is an oasis in the middle of a harsh airport desert. Calm. Convenient. Designed for modern life. People wait at their gates to pass the time until their United flights board. Soaking up the good vibe.
We respond to the simple things these brands do. Time and time again.
Love your customer
Everyone wants unabashed loyalty from their customers. To get that, you’ve got love them in lots of little ways.
Some examples come to mind immediately:
Voice mail. You have an ambiguous, sterile or long message with endless menu options. Fix that. People call you because they want to speak to a person and get information. Make it easy. Personable. And to the point. No one wants to call a menu system so remove it if you can. A friendly, helpful voice that greets people every time and provides them the information or the direct line they need right away is a small thing that goes a long way to getting them to call you again.
Website. Busy websites stress visitors. The more choices, options, images and elements you place on a page, the more likely it is users will bounce or get frustrated trying to find the thing they came to the site for. I know about the pressure you’re under to place everything on the home page. Resist it. The simpler, cleaner and more user-focused the site its, the more of a calm, engaging and clear vibe it gives off. You can scream at the user, or whisper gently. Choose wisely.
Office space. Brokers: Spend a few grand sprucing up your office. Pop a coat of fresh color on the wall. Here’s another idea: Design some of your retail space like rooms in a home. A den. A Finished basement. A bedroom. A man cave. This could be a cool, feel-good environment for agents to meet with clients. Especially if these rooms are staged beautifully. Maybe a local furniture store or decorator could curate and design in exchange for free advertising. Make them want to come for a visit.
Aftercare. None of us do enough to service people post-sale. Asking customers for referrals or sending them holiday cards is OK. That’s touching them. But in a creepy sort of way. People yearn for something more meaningful than a touch. They yearn for value. Relevance. Starbucks sends me a coupon for a free drink on my birthday. That matters more to me than a Hallmark card. Conjure up something more meaningful than a turn your clock back this Sunday reminder. There are a million ideas here — too many for me to list.
Fun. Enjoyment. Happiness.
At Ikea, a color-coded path eases the ordeal of navigating thousands of products. Creatively orienting their goods inspires shoppers. Ikea makes shopping fun, which makes their customers feel good in the process. It’s the simple, singular difference between them and every other furniture manufacturer.
You will return.
Fun baked into functionality. Enjoyment at the beginning of the experience. Happiness when it concludes.
Here’s the thing to consider: The average customer in real estate doesn’t experience fun during the process. It’s clear why. Real estate is stressful. But so is flying and buying furniture — and Virgin and Ikea have taken aim right at that stress, resulting in amazing customer experiences.
While you ultimately can’t extract all the stress from the real estate transaction, you can address the simple things around it that determine how that stress is felt.
You feel me?
via inman.com
Why Small Business Is Making a Mess of Social Media | Cross River Real Estate
“Does your small business have a social media marketing strategy that takes time and effort but fails to deliver a positive ROI (Return on Investment)?” Most small business Internet marketing campaigns are in the same boat!
If your business puts more time, effort and money into its social media than the returns warrant, then it’s time to take stock. Don’t be afraid to make bold changes regarding social media strategy.
Like any business activity, social marketing needs to provide some sort of return – there’s little point in wasting resources on it simply because that’s what everyone else is doing. This article will contrast the growth in social media with its poor returns, and discuss how you can get more for less from your Internet marketing budget.
Business & social media
According to a recent report by email marketing company Vertical Response, who surveyed 500 small businesses:
- 90% of small businesses are on FaceBook
- 70% are on Twitter
- More than half have a blog
- 25% spend 6- 10 hours a week on social media
- One third of small business owners and managers wish they could spend less time on social media
The stats also indicate that the amount of time spent using social media is increasing each year. And, four times as many small businesses have increased their social marketing budget – as opposed to those who decreased it.
Doesn’t something strike you as odd about these figures? Businesses are increasing their engagement and spend on social media, while wishing they could do the opposite (spend less time on social media).
The only time any business owners wants to do something less, is when (s)he doesn’t feel like it is bringing in a tangible return.
So why is everyone jumping on the social media bandwagon?
I believe it is because:
Social media marketing is driven by small businesses’ fear of losing competitiveness.
Yes, building social influence is important, but the process of building social influence is not trivial. In addition, building social influence is not the core competency of small businesses, so the amount of effort that is wasted on ineffective Internet marketing is very high.
Ultimately, a poorly implemented and ineffective social marketing strategy is a waste of time and money.
Small business social media returns
Many small businesses are scared of losing competitiveness if they aren’t well represented on the popular social networks like FaceBook, Twitter, LinkedIn and Google+. So they invest time and effort (and a bit of money) to grow their “social influence“.
To put this into perspective, according to the latest research report by Forrester:
“Social tactics are not meaningful sales drivers”
They arrived at this conclusion after analyzing the primary sales drivers for eCommerce and found that less than 1% was driven by social media.
Social media evangelists will point to the fact that social media offers many indirect and intangible benefits, and they are absolutely correct. But 1%, really?
Modifying your small business marketing strategy
I am not advocating that small business dumps social media marketing. But, I think someone has to put their hand up and ask why everyone is diverting resources into something that hasn’t been shown to provide great returns across the board for everyone (of course, there are plenty of individual examples of social media marketing success).
Given that the majority of all Internet traffic still originates with search and that mobile will outstrip PC Internet access in the next year or so, my advice for small businesses with limited budgets and resources for Internet marketing is to do the following:
- Focus on building a high quality content based Web presence (i.e. a blog, whitepapers, video, podcasts, etc)
- Integrate social media into your content creation (i.e. share buttons, tweet about new posts or interesting facts)
- Ensure your content is accessible using responsive Web design
In other words, make your content a platform from which to engage socially and on whatever device your customers choose to browse with. It’s the content, the message, that will drive your social influence.
By focusing on creating high quality content, not only will you build a sustained source of high quality organic traffic from the search engines, you will also be in a position to build authority and trust that leads to social influence.
Once you have social influence, you are able to leverage it to drive business growth and sales.
Does your company have a successful social marketing strategy? What do you do that makes it more successful than other companies? Alternatively, do you feel like you are floundering when it comes to Internet marketing and social media? Share your marketing tips, ideas and experiences in the comments.
Qualifying for a mortgage after an employment gap | Katonah Real Estate
Q: My husband is quitting his job to stay home w/our three small children (we have twins!). But in two years, we would like to move and have his new job’s salary considered when we apply for a loan. I heard he has to be working for at least six months for his income to be considered. Is that correct?
A: You and your stay-at-home-dad-to-be hubby exemplify the flexible family roles of a modern American family. Kudos to you both for thinking ahead and being strategic about the road ahead. Let’s get right to your questions:
1. Six months should work. Based on current guidelines, which are subject to change, most lenders require that a gap of employment longer than three months be followed up by at least six months of employment before the income of the borrower with the employment gap can be considered toward qualifying for the home loan.
Lenders will still require your last two years of income tax returns, but will generally look to your average monthly income from the last few months so long as they are provided with verification that your husband’s been back to work for at least 180 days.
2. There are caveats. The six-month greenlight assumes that your husband goes back to work in the same field as he worked in before he took time off to stay home with the kids. Most lenders have a two-year “same line of work” requirement; the employment gap doesn’t disqualify his income from counting, so long as he’s been in the same line of work for at least two years.
If your husband is looking to change lines of work, he will need to prove that he’s been in the field for two years before they will count his income. Time spent enrolled in an educational course does count toward the two-year “same line of work” requirement.
So, for example, if he was a firefighter, then went to law school during his employment gap, then went back to work as an attorney for six months, the time spent in law school would count toward the required two years in the legal field, and the six months of lawyer work would allow his income to count toward your qualifications.
If, on the other hand, he was a firefighter, took two years off, then went to work in human resources, he would probably need to work for two years in the HR field before his income would count toward your loan qualifications.
3. And a few more caveats. Assuming he’s going back to work in the same line of work as he was in before, the lender will likely use only his base salary to count toward your loan qualifications. Commissions, overtime, bonuses and other employment compensation beyond the base salary cannot be counted toward your ability to repay your mortgage without a two-year paper trail documenting the extra income. Similarly, if he goes back to work in his own business, he might be required to document his self-employment income via two years of adjusted gross income as shown on federal tax returns, for that income to be counted toward your loan qualifications.
Tara-Nicholle Nelson is author of “The Savvy Woman’s Homebuying Handbook” and “Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions.” Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.
via inman.com
RPR a drain on NAR finances | Chappaqua Real Estate
via inman.com
Death toll up, gasoline lines grow in monster storm’s wake | Chappaqua NY Realtor
via reuters.com
The Fiscal Cliff’s Threat to National Security | Cross River Homes
Both candidates for president of the United States are clearly mindful of the potential for a razor-close election next week. Mitt Romney has been talking more about his bipartisan credentials as governor of Massachusetts while President Barack Obama, out of the blue, said the automatic spending cuts set to take effect early next year “will not happen.”
This is contrary to many clear public statements from the president over the past year. Obama has repeatedly vowed to veto any legislation that would repeal the spending cuts if the deal does not include tax hikes on the wealthy.
But the president recently doubled down on his statement from the foreign policy presidential debate after his advisers tried to walk it back. Obama told the Des Moines Register, “I am absolutely confident that we can get what is the equivalent of the grand bargain…which is $2.50 worth of cuts for every dollar in spending, and work to reduce the cost of health programs.”
[See a collection of political cartoons on the 2012 campaign.]
Many in Washington, including Speaker of the House John Boehner of Ohio, had long ago written off the likelihood of any sort of major deal. But there have been groups of policymakers meeting to craft the outlines of any-sized bargain to avert the impending fiscal cliff. In the Senate, a bipartisan group of eight senators led by Republican Lamar Alexander of Texas and Democrat Michael Bennet of Colorado has been talking about potential frameworks for a deal targeting up to $4 trillion in debt reduction over the next decade.
One popular point of departure has been the Bowles-Simpson report, recently touted by Democratic Sens. Dick Durbin of Illinois and Chris Van Hollen Maryland and Republican Sens. Lindsey Graham of South Carolina and John McCain of Arizona. One of the key tenets of their plan is a tax reform program that would lower rates while closing loopholes, thereby generating new revenues from the top income brackets while stimulating economic growth.
Despite this momentum for a deal, Democratic Sen. Chuck Schumer of New York, chairman of the Senate Democratic Policy Committee, recently rejected this approach. He instead has called for tax rates upon the top two income brackets to be frozen in place after the Bush tax cuts expire at the end of the year. This approach—coupled with his plan to increase capital gains taxes—is likely to be unwelcome among Republicans.
[See a collection of political cartoons on Congress.]
If Schumer’s position is the default Democratic starting point in negotiations, prospects for a deal look bleak. Speaker Boehner is not optimistic, recently calling a lame-duck grand bargain “difficult” and “probably not appropriate” given the large amount of retiring members who would have a disproportionate sway on the future of the country.
All of this signals that any solution to the fiscal cliff would be complicated. Congress has been dealing with the same set of problems since the near-government shutdown in the spring of 2011. The reality is that even if Congress were to pull off a miracle deal, the military is still largely on the hook for more spending cuts. As Senate Armed Services Chairman Carl Levin has proposed, defense dollars will surely contribute yet again to any new compromise.
[See a collection of political cartoons on defense spending.]
What would prolong the damage is a messy muddle through the fiscal cliff, not fully addressing it or not going forward with it. If Congress, say, tries to buy Washington extra time to negotiate a bigger deal, the economy will linger under uncertainty and consumers and business will continue to show they lack confidence. Punting on the fiscal cliff only defers problems. It does not address the fundamentals of the size, role, and scope of federal spending and debt accumulation.
Worse yet is the possibility that elected officials could choose to deliberately go over the fiscal cliff and then try to patch up the damage after the fact. This would be especially problematic for the defense budget as those in uniform; defense civilians; and shipbuilding, aerospace, and defense manufacturers would all be affected; costs for programs would rise anyway and not save any money; and some projects deferred would become projects canceled regardless of action taken later.
A common denominator in all these scenarios is that averting the fiscal cliff does not mean that things would automatically improve. The only silver bullet remains a comprehensive debt reduction deal.
via usnews.com
