Buying That First Home: The Finish Line

So my agent followed up with the selling bank regarding the proposed deal. He called me back to inform me that the bank accepted the arrangement! So it's only a matter of time now; closing is scheduled for August 28th. For the record, here's what my deal entails:

• Original asking price was $227,000. I initially offered $230,000 with a $1,000 earnest money deposit and a $12,000 concession, for a net asking of $228,000.
• The bank counter offered at a $235,000 asking price with a $2,350 earnest money deposit and a $8,000 concession, for a net asking of $229,350.
• We accepted the counter offer and I put the earnest money into escrow.
• My broker got conditional approval on financing, contingent upon all of my credit cards being paid of (~$3,000 owed).
• My agent submitted an amendment asking for an additional $3,000 in closing (no offer price increase, which made me a little nervous)
• The bank had to follow up with the investor (don't understand that piece) for the response - approved!

So when I close, my credit cards (which are the bulk of my separate accounts) will be paid off, leaving only my car and mortgage to pay, and I'll own my first house.

Before folks start cheering, I still have to get the appraisal results. The property might have depreciated so severely as to not make it worth while, or there might be bums during the walkthrough or anything else imaginable. I'll have to sit on my hands and wait and see.

Jury Duty...

NOTE: This is a migrated entry.

So I got summoned back in February to go to Jury Duty. I was asked to postpone until August. So I went today.

Before, when I was paid hourly, I could easily get out with a letter from HR stating that they would not pay jury pay. Unfortunately, that doesn't fly now that I'm salaried, as part of it is paid by my company. However, I still managed to make do. Before I reveal the magic, I just had some observations.

First off, I think the current process for JD is unnecessarily bureaucratic. They send you a notice in the mail to show up on a certain day at a certain time to wait to possibly be called to serve on a jury. Why not just send a notice telling you that you've been explicitly selected for a trial, and must show up to court by a certain date unless you have a viable excuse? Get rid of the interstitial waiting period, it's a waste of people's time and not worth it. $15/day? For potentially 8 hours x 20 days worth of serving? Seems as though it hasn't caught up with the economy.

There is one good thing about JD: there is always at least 3 sexy females up there waiting right along with you. It's a prime place to get phone numbers - if you're into that sort of thing. Me, I like looking at them, not necessarily talking to them (because they're always stuck up anyway).

Anyway, how I got out of it: generally trials are quoted at 3-7 days long. That's business days, of course. That means, if your company pays less than 7 business days, you're in a good spot. Using mine as an example, they pay "a week" - which equates to 5 business days. The possibility that the trial could go 7 business days is the catch. That means two business days your company is not paying. That's money not going to bills/expenses. That's your hardship, and even if they require you show up at the waiting room, you won't get assigned to a trial.

Now, your company may pay 10 days or even unlimited in some cases. You're screwed. Accept it and get ready for trial. But if your company pays little to no days for jury service, you have an out.

DISCLAIMER: The above presentation does not apply to Federal jury service which does not acknowledge financial hardship as an eligible excuse reason. Only County jury service allows for financial hardship.

Review: Final Fantasy IV DS

NOTE: This is a migrated entry.

In continuing with tradition, I intend to post one review a day, until I'm caught up. Then it's all full steam ahead. Tune in tomorrow, when I review a custom bed cover.

For now, Final Fantasy IV DS.

Final Fantasy IV is actually the sixth Final Fantasy game, but the fourth to be released as part of the official series. If you didn't know, the Final Fantasy games (with the exception of X and X-2) have little to do with each other and are not true sequels. Think of them as separate books under a brand; each one tells a different story, even if they might use slight pieces concurrently (such as spells). There were Final Fantasy games released on GameBoy, as well as "Mystic Quest" which didn't really count, but since it held the name, I list it here.

Back in the days of Super Nintendo, Squaresoft released this game as "Final Fantasy II". There were two separate versions, referred to as "Easy Type" and "Hard Type". The SNES version was allegedly the "Easy Type", though I can't fathom why that was...*cough*EvilWall*cough*...Final Fantasy IV was then re-released on the Final Fantasy Chronicles game set along with Chrono Trigger, replete with new CGI cutscenes to further the gameplay. This version was allegedly the "Hard Type". As if that weren't enough, Square Enix (as they were now called) released Final Fantasy IV on the Game Boy Advance - again, allegedly the "Hard Type". And now here we are.

But wait - this isn't the same as either previous version. This is a remake, not a port. The game has been converted to full 3D. Some of the spell and summon names have been changed. And Square Enix has added some features to the game to make it just enough "new" as to make it interesting. So I'll go down the list of good and bad, and then elaborate.

*** THE GOOD ***

• The difficulty is now more in line with some of its latter forefathers, especially with the Active Time Battle system. Bosses such as the Mist Dragon (the first "boss" you'll encounter) are actually challenging if you don't know what you're doing. New gamers might actually get whooped repeatedly. Veteran gamers who understood the patterns will find challenge, but not nearly as much as new gamers. Oh, and by the way...Dr. Lugae? He's no longer a pushover. That's all I got to say about that.
• Certain characters who where difficult to use because they just weren't useful were given additional skills to help them contribute in battle. One character's ability was so blatantly useless as to be laughable, yet he was one of the final characters in the game. This has been changed to where his skills contribute almost as well as Rydia's spells.
• "Augments" add a whole different dimension to the game. With these, you can effectively take the natural skills of other characters and apply them to anyone you want. SO for example, you could have Cecil set up with Counter, Kain set up with Draw Attacks, and have Cecil cover, which effectively makes Cecil a tank while Kain is free to dish damage. That's just one example of the various combinations you can employ to go through the game.
• Item limit is removed - no more relying on the Fat Chocobo to store excess Elixirs.
• Summons, now referred to as Eidolons, have been powered up substantially. In the older ports there came a time when your summon could barely do the damage of Fire 1, so by the time you got Fire 3, there was no point in using Ifrit. (There is a negative to this though, more later)
• The graphical detail of the game is top notch for the DS, especially in certain caves and dungeons. It's clear they put some work into making the game as visually appealing as they could.
• The audio has been remixed, and even improved in some areas. FFIV's music had always been quite good, but the remixes are even better (negative here, more on that later).

*** THE BAD ***

Yes, there are some not-so-good things to this, I'm sorry to say.

• Eidolons. Remember how I just got done praising them for what they bring to the table now? Well, there's a new problem. With the exception of the Four Fiends there's really no point to using them over spells except to watch the scene. This has more to do with how slowly it takes Rydia to call them than anything else.
• Some tracks were remixed with added instruments that totally kill the spirit of the original song/atmosphere it was used in. Troia comes to mind.
• The "sudden death" set of notes was removed. This is what plays the moment someone dies as part of the story, usually at a point when Cecil is yelling their name out. I have no idea why they removed this.
• Cecil's "Darkness" ability was nerfed. On the SNES version, he didn't have this ability. On the PS1 and GBA versions he did. It sent out a wave of dark energy to hit all enemies and caused you damage when you used it, but it was quite useful. Here, it just makes his attacks stronger and takes energy when you attack, but you can only hit one enemy.
• The ability to equip weapons has been altered. Characters who could easily equip certain weapons no longer can or the way they equip said weapons has been changed. For example, Cecil could always equip a bow and arrow as an alternative to a longsword, which was particularly useful in one specific cavern, but now he can only equip daggers and swords, making him effectively useless when you get to that part except to Cover. Plus, depending on how you equipped Rosa's bow/arrow combination, her power went up a bit. This has been removed as well.
• Because everything is in 3D it makes navigating caverns and towers extremely difficult. I'm sure this was intentional, but because you can't change the camera, you can't easily tell which way you're going. Some might actually like this as it forces you to learn the paths all over again, but I don't care for it. The camera is almost directly in front of you, you don't get a "top down" view and can't tell which path leads to a dead end and which does not. I don't mind the camera angle, as long as I can move it at will. This also causes a minor annoyance at one castle where someone is eavesdropping on the throne room: in the older version you can clearly see the perpetrator as they jump up momentarily. This adds suspense that is missing on this version.
• A brief cutscene plays before almost every special ability. It detracts from the fluidity of combat to have to watch Kane for two seconds before he executes the Jump command. I really wish you could disable this.
• The placement of "Switch Rows" has nearly cost me battles. It should be on the left rather than right under "Defend". Because I'm used to fast paced battle, I'm used to pressing right to defend and left to switch rows. No idea why they would change this.

So...do I recommend this game? Absolutely. My negatives are personal nitpicks based on my extensive knowledge of this game, for the most part. I would say if you're a vet like I am who remembers the game from SNES, just don't expect the exact same experience. Square Enix has tried hard to freshen the game in quite a bit of areas. A lot is the same, but a lot has changed, including the names of things.

Buying That First Home: The 'Dream Team'

NOTE: This is a migrated entry.

For the record I'm working with a REALTOR and a broker to get this home taken care of. I met the broker by way of the REALTOR. I have to admit...once we found a house and got a contract signed, my agent kicked it to the extreme; calling early or late as needed to give me status updates about the progress of the purchase. The broker is not only working to get the financing done, he's working to get the best rate possible.

I was told recently that the two of them are working to not only get the lowest rate, but to also get more money on the loan and pay off all of my various credit cards. My credit is clean, but I do have a couple of credit cards carrying balances at present. When it's all said and done, I won't have to bring any money to the closing table, I'll have the house and all of my credit cards will be paid in full. That will only leave my car payment - which will get paid off by the time tax day comes around in 2009.

Don't get it twisted...the broker has quite the attitude problem, and doesn't like to talk to you the customer, only to your agent...but the two of them together are quite effective as a team. It's too bad all of my friends are broke, or I would absolutely recommend the two of them for anyone trying to buy a home.

Buying That First Home: Bank Drama

NOTE: This is a migrated entry.

So I got a call from my agent, who got a call from my broker. It seems my financing has been approved!...with a contingency. Ugh.

Before I go into the contingency it's important you get a little background. My credit report is pristine. I have no negative accounts. I did file Chapter 13 BK back in 2004, was discharged this month. I really did it because at the time, my income far exceeded my debts - even though I wasn't really delinquent on anything, I just needed a reprieve. By the time the BK was near discharge, my income had tripled, so it was significantly easier to deal with the debt, plus the biggest loan I had on there was a private loan from Sallie Mae - but the school closed before I finished. California's Student Tuition Recovery Fund made that go away and gave me all of my money back. Also, I had managed to open some credit card accounts to get some positive account history going on. I have three credit cards that I've had for over two years.

So now you know the history. The contingency is...the lender wants all of my credit cards paid off. That's no easy task, at least not in the short timeline they want it done. I can pay off my credit cards in roughly a month, give or take...unfortunately this has to be completed by July 29th. Not happening. It's not a lot being asked...it's the timing of it all.

So, my guys are going to work with the list agent and bank to see if they will do one of the following:

1. Accept a loan price increased by $3000, offer a $3000 credit at closing, and set a requirement that the credit be applied to pay off all credit card balances, with an agreement from the lender that we're doing that; or
2. Excuse the earnest money deposit (which is just shy of $3,000) so I can put that towards the credit cards instead, and close with no money out of pocket.

I actually prefer the first option, because the bank will still get the earnest deposit, which they should get. The second option is dangerous, both to me and the bank, because the bank doesn't benefit at all except they get the house off their books.

So...I continue to wait while I play this juggling act between banks. Fun.

Review: Flavia Fusion Coffee Maker

NOTE: This is a migrated entry.

There was a time when I could down 6 cups of coffee or so, and I desperately needed that much coffee in previous jobs where I would work a 6am shift. In my current job under previous management, the workload was stressful enough that I still required that much coffee to stay energized enough to continue contributing to the team. Under my current management, I've toned it back to one cup of Breakfast Blend every morning - nothing after that except water and non-carbonated drinks. Quite impressive, if I do say so myself.

Anyway, I have had three separate types of coffee machines. The first was a one-cup machine that came with a cup. You put grounds in the top, poured hot water in another area, and it spit out a cup. Of course this meant constantly purchasing bags of coffee grounds or grounding my own beans - neither of which I was inclined to do. The problem I always encountered was the loss of freshness after some time (the grounds). And of course, during this time I was drinking more than one cup, so it was quite inconvenient. That machine was trashed.

Second machine was a much spiffier take on the same methodology, but it supported up to 8 cups from one ground load. It also supported push button, so you could just press your cup to the button and get coffee. Quite nice actually - but then (ironically enough) I toned back to the one cup, making this option overkill. I also grew somewhat lazy, as I just want to set it and forget it. So I got to researching various automated coffee makers.

Word to audience: the Starbucks brewers are a blatant rip-off. They probably paid $50 wholesale for each yet try to charge $300-$400 for something you can get elsewhere at $100 that does a better job. And then had the nerve to assume that their brand name would make those machines fly off the shelves. Nuh uh.

In comes Flavia Fusion. Our job has the enterprise Flavia machines in the break rooms. They're simple and efficient to use. Different sealed coffee pods are put in, coffee comes out roughly 30 seconds later. Of course, the enterprise versions are tapped directly into the water line, so coffee is nearly instant. There are also sensors so it doesn't shoot coffee if there's no cup, and a reservoir for used pods that's easy to dump. LCD screen so you can more easily make selections, and we've found it saved money hand over foot vs. the old pot version.

Flavia Fusion is a personal version of the same. It does not tap into the water line and does not have an LCD screen, but the pods are still used. What's more, you can brew nearly anything: hot tea, hot chocolate, coffee of various strengths and flavors, cappuccinos, mochaccinos, lattes including tea-based lattes, and espressos. Because each pod is sealed and separate, your drinks will never get mixed together or anything - every drink is like a fresh pot was brewed. It takes roughly a minute to warm up the first time if it's been off for a while, then 45 seconds to brew the first cup, so altogether maybe 2 minutes to your first sip. It seems like a while, and I much prefer the enterprise version, but you won't even notice it if you brew coffee in the morning.

Some issues I have:

• No timer. The enterprise version doesn't have one either, but it would be nice for the Fusion to just have the ability. If you get up at roughly the same time every morning and have roughly the same routine, it'd be nice to just leave a cup and a pack in there and schedule a hot coffee for the next morning so you don't have to do it.
• No hot water function (this was resolved with the newer Fusion Deluxe, but Flavia will not upgrade you)
• Discontinuation of various drinks. Like Darjeeling - I know people were claiming it's too similar to Earl Grey, but a tea specialist such as myself can clearly tell the difference. Darjeeling is a morning tea, like English Breakfast, while Earl Grey is a midday-to-early evening tea. They're not the same.
• No reservoir for used pods - this is a nitpick, but it would really be helpful.
• Water reservoir holds about 3 cups worth of drinks. To me that's just pathetic.

I still recommend it for those who drink coffee, tea, or like specialty drinks. I believe it to be a great investment...it's saved hundreds of dollars while providing quality drinks.

Movie: "Wanted"

NOTE: This is a migrated entry.

So I was invited to go see this movie a little while back. Mind you, it's been years since I've actually gone to a movie theater to watch a movie. This one seemed interesting. However, a number of issues ruined the experience.

First, the theater smelled like urine. Yes, urine. As though it'd never been cleaned. And this is AMC - once known as the best movie theater in the United States, now just a pale shadow of its former glory, as Edwards Cinemas and the drive in easily make AMC look small time. Second, the actual showing room was extremely tiny - I'd say maybe 50 seats. That's pathetic for a movie like Wanted, and made me think they just didn't care. Yet "WALL-E" gets a huge theater and is half empty. Great. The only seats left were two rows from the screen - horrible on your eyes and senses. Especially since AMC still uses analog film reels and projectors to show the movie.

To the movie itself: I said it before and I'll say it again. The first 40 minutes of the movie felt like a cross between "Office Space" and "The Matrix". There were red staplers, offices, training, running, etc. I was really not impressed at first. As the movie progressed the plot fleshed itself out quite nicely, but the first bit was rather painful. Apparently this was a movie adaptation of a graphic novel, so I didn't expect much, however I did expect more than what I got. "Sin City", I felt, did a much better overall job at fluidity and continuity than this one. This felt like some frat boys got together and slapped a storyline together, which added to the lack of impression.

Do I recommend it? You might like it...but personally I say it's a rental. Not worth the theater visit.

When you just don't feel like doing anything.

NOTE: This is a migrated blog posting.

A new day, a new blog category. Personal thoughts, feelings, opinions, whatever...just information I felt like sharing.

I'm going to work in reverse order, starting with today.

The boss - Senior VP - had informed us previously that she noticed certain concerns about attendance from the team. Likely not me, since it's next to impossible for me to take PTO. Anyway, my colleague took the day off...again...so I was pretty much on my own. I was called upon to assist in some projects, meanwhile I had my own tasks that needed to be completed (I fell behind due to the additional tasks that I've been asked to join in on). Meanwhile, I'm (re) training a co-worker from another department on our current solution that I administer - he's a standup guy, I know it'll be in good hands - but it was another task to do today.

Once I got past all of that, and came home, I ate my food, then shortly thereafter, I began to feel ill. Nauseous, just "ill". As though I'd just gotten off a 3-day cruise or something (I get seasick). To be honest I've felt a general "ill" feeling for about three weeks now. Part of that is due to the heat - I'm absolutely intolerate of sweltering heat (Anything over 20 degrees Celsius, basically). Part was my bed - I'll never own a memory foam mattress again, basically. The other part...I don't know. Thank goodness for GABA or I'd never get sleep.

So now I'm up at 9pm, watching Law & Order, and still feeling ill. My stomach isn't upset, but it feels like I've got some indigestion. That could have caused my nausea; not sure. I have a very picky stomach; one day I can pig out on things, the next they make me sick, then I can go back to eating them again.

Oh well. Time to find out if el cuerpo humano can self heal.

Buying That First Home: Moving Out

So I need to get prepared to move out of my apartment. Even if the house does not go through, I gave notice and my lease is set to expire on August 2nd, with a walkthrough scheduled for no earlier than July 27th. That means I've got a little under a week to get everything situated. Because of the small snag in financing I delayed doing any sort of packing or anything, as I didn't know for certain whether I'm going into the house or if I'm going to another apartment for one month while the process resolves itself. Believe it or not I'm still not certain.

However, that does not mean I can't do at least some initial packing, knowing good and well that I will be moving somewhere in the near future. So, starting today, I'm going to box up anything I haven't touched since I moved here, including a lot of my kitchen utilities and media. I've only been here a year and haven't accumulated much, so it's doubtful I'll have too much to throw away - and I couldn't in any case, seeing as the rest of the tenants see fit to fill up the garbage bin every day, preventing me from properly discarding what I've got. You wouldn't believe how many Amazon.com boxes I've got sitting in the middle of my living room waiting for their turn.

The bedroom is going to be the hardest to move, I can already tell. With the new bed I just bought, that makes two mattresses and a boxspring, plus the frame, two side tables, a utility cart, my ironing board, filing cabinet, flat panel, game system, and the contents of my master closet...a nightmare, to be sure. Then there's always the concern about moving to a house - no security this time. Everything is entirely up to me. The house has been vacant for months - what's to stop someone from trying to break in and take my things when I'm away at work? I've got quite a few valuables...and I can always do homeowner's insurance, but I'd rather not even have to worry about such things. In an apartment at least there is some measure of security: I'm on the second floor, we have a security patrol, neighbor watch, etc...not to mention there are people here with much nicer things who actually leave their blinds open for the world to see.

Oh well. Time to get on with it.

Buying That First Home: Anticipation

NOTE: This is a migrated entry.

"Right down to the wire"

That's exactly what it seems like. Everything is down to the wire. Do you know why that is? It's because the backend of our economy is inherently broken at its core. Little things where consumers have no control over what's happening result in a major downfall.

A home purchase is likely the largest consumer-centric investment you will ever make. In some ways it's not only life altering, it also is extremely risky. There are numerous factors that can affect you the moment you close on a house. You could lose your job (either via layoff or straight firing, or the closure of the company). Your income could decrease (I think some states have laws against that unless the job merits it). You could even experience a further decrease in the value of your home during these times. It's always a risk, always a gamble.

Therein comes anticipation.

I started my home search in April. That's right, April. I'm just now at a point of nearing closure, and even now it's still not a guaranteed deal, because everything substantive is happening on the weekends when the banks are closed. I'm forced to cross my fingers and hope that things stay exactly the way they are right now, until tomorrow so my broker can get a snapshot of the true way things stand with me. For the record, here is my checklist:

• Financing: secured, but then changed, the rates changed, the first lender could not offer the buying power I needed, DTI issues, etc. Think I finally sorted it out, but it will take time to get to a point of confidence.
• Finding the home: This was the bulk of the time spent. At first I was looking in surrounding areas like Temecula and Murrieta, but the inordinate increase in gas prices has made those areas not as feasible, even though they are visually superior in quality. I had to also wait for home prices to decrease even more in select areas, and even then the area I desired the most refuses to depreciate fast enough (Rancho Bernardo). I'll have to sacrifice my 15 minute morning commute for a much more stressful 35-minute commute, but whatever...I've got SIRIUS.
• Placing offers on homes: Short sale process is broken. Period. Banks should be required to reply to every short sale offer from buyers within 15 calendar days. There's a house on short sale out on the MLS, I put an offer on back in May. The banks ignored my offer and went with another guy and has been sitting at Backup Offer ever since. Placing offers on foreclosures is a bit more sane, but out of control, as investors are essentially falsifying the nature of the purchase in order to scoop up cheap properties to flip when everything rebounds. There needs to be more regulation of these types of situations. If they already own a home, they should be put lower on the priority list than those that do not.
• Consumer credit: This is the worst of them all. Your credit report can be literally pristine yet your credit score remains in the 600's because you don't have any tradelines that exceed 2-3 years. What's worse, any creditor, even if they know it's false, can report negative information to your credit file any time they please, and you can do nothing about it except try to work it out or dispute with the bureau...of course the dispute taking over 30 days makes that not a viable option when you're buying a home. That's what happened to me - pristine record, then right when I place an offer, some invalid collection account shows up and I have to fight tooth and nail to get it removed. Fortunately for me, I was able to call in a few favors to expedite the dispute process, but not everyone has such contacts.
• Cash on hand: When you're living in a state that does not ream you on taxes and fees and everything else, it's quite easy to save money. But when you're living in a place that takes your money any way they can, it's just not that easy to save, and even if you do save to like a 401k, you're going to get nailed for taking it out. Your money. Just because you earned it.

So, I sit in anticipation of what tomorrow will bring. Of course, it's July 20th, my lease expires August 2nd, and I have to do the walkthrough July 27th. Mind you, financing must be secured by July 24th. So I've got until Thursday to get financed one way or another. As of today it's a clean road to that goal, but who knows what lecherous creditor will try to hit me with next.

Buying That First Home: Low Cash

NOTE: This is a migrated entry.
For the record, my job pays quite well and has for the past few years. The economy has affected my company quite severely, as we laid off nearly 90% of the workforce in the span of a year and a half. I was kept because (1) I'm one of the few people who knows almost every aspect of the business and (2) I administer one of the core business systems (that's soon to change).

However, California is a quicksand pit: you can have a great salary and yet still be cash poor. "Cash poor" is a term that literally means you have no cash to speak of. You have reserves, you have assets, you have extended credit available, you have 'things' to show for your work, but no cash to blow. The primary reason I don't have cash? I rent.

You wouldn't think that simple statement would explain it all, but it really does. My rent payment exceeds every luxury I have. My rent payment is greater than the sum of all of my other bills combined. TV, internet, phone, cell phone, car, credit cards, water, electric, drinking water...combined make up about $900 per month expenses, give or take. My rent payment is almost $1800. By the time I pay those, I have just enough to keep my car and stomach filled, with the occasional book, game or DVD purchase. It's not easy saving.

However, I do have a 401k account that gets automatically filled. "How come you can do that and not set money aside yourself?" Easy. The 401k is immune from taxation. It also comes out before I ever see it, and I can't touch it without penalty. If I had the option of setting money aside from my paycheck into an IRA or a CD, tax exempt, I'd do it in a heartbeat. The problem is that I know the money's already been taxed and each check I get is cut by at least $600 before I see it, and that bothers me. So does the government's lame attempt at "economic stimulus" - don't send me a check for money that is just going to go towards tax liability...create a way for people to save money and avoid taxation. Encourage savings and you stimulate spending by proxy: if I could save enough money, I'd buy a house twice the size of the one I'm buying now and pay the same price.

Speaking of taxes, some people in other states really don't understand what goes into our tax system. So just for them, I'll break this down, then go further into the low cash system.

• Income Tax: This one is the worst of them all. An arbitrary incremental percentage of the money you earn. I happen to be a supporter of FairTax and believe that tax should be assessed based on what you consume, not what you earn. Doing it that way ensures that every level, from the lowest (drug dealers) to the highest (billionaires) are forced to pay their fair share, because everyone has to buy food. Everyone has to buy clothes. Everyone needs gas. There are a lot of things that everyone must buy, and then those billionaires who need a fleet of Hummers will automatically inject major amounts of money into the economy within months. Know what's worse? There are two - Federal and State. Some states don't have state income tax but we do. A huge chunk of our money is gone before we know what hit us. That's two taxes in one!
• FICA/Social Security/Medicare: This is a tax, I don't care who says it's not. It's a tax because the money you pay towards it does not benefit you, but rather the system that shares its name which, by the way, is slated to be dry and no longer of value before my generation turns retirement age. So in essence, everyone paying this has been throwing away millions of dollars a month towards something we won't benefit from. Also, if you make $110grand or more you don't have to pay this tax. That alone makes it severely unbalanced, as well as partially responsible for the fact that the majority of us won't have benefits when we retire. Either apply the tax equitably regardless of income or don't charge it at all.
• State Disability: See Social Security above. Same issue (except the income limit).
• Sales Tax: I actually have no problem with the sales tax. I do have a problem with its application. Sales tax should only apply to physical goods and only those purchased from a retailer in your state of residence, be that an online retailer or brick-and-mortar. What the government wants to do is force you to pay this tax in the form of use tax (I'll get to that one). They could solve their issue by simply enacting the consumption tax - then it wouldn't matter where the product was purchased, and I would support that, if it meant my income was completely left alone and paid fully to me.
• Use tax: Did you know that, if you buy stuff from Amazon.com or some other retailer that does not have a physical premise in your state, that you have to report the tax of those purchases on your return? It's called "use tax" - the government's way of attempting to collect money it thinks it's owed. It's a farce. the money was already taxed at income time; why do you then need to turn around and tax it yet again?
• Property tax: This one is ignorant. I mean at least it's deductible but still. Tax on land? Paid for with money that was already taxed at income time. It's stupid.

As I said, the inordinate level of taxation almost requires you to be making at least $60-70 grand a year just to make it out here. And that salary isn't easy to come by, even with a degree.

So...now that I've spun this into a different topic, I'll get back to the original one...cash reserves. It's not easy to save money out here. Doable? Yes. Not easy. And the system needs to give in one way or another:
(A) Implement a flat, static consumption tax and repeal anything else even referred to as a "tax", paid one time and one time only, or

(B) Implement processes that allow consumers to save their own money tax-exempt without requiring an employer-sponsored pension plan.

Buying That First Home: Home Inspection

NOTE: This is a migrated entry.

So at the behest of my agent, we went ahead and decided to proceed with the home inspection in anticipation of everything getting resolved with the financing and credit issues. Again, this is my first time doing this, however it seems pretty sensible: guy's essentially going to "audit" the house and write up a report of recommended actions, some which might be deal breakers, others not so much. No big deal.

For those in San Diego, I really do recommend San Diego Home Inspection, Mark West. He got it done in a few hours and issued a report right away, complete with pictures ( I was trapped at work and unable to go in person ).

The majority of the issues I had already noticed during the first tour of the home. Almost all of the window screens were bent, torn or falling off; the carpet was ruddy and needed to be replaced; the paint was not even; the attic panel was missing, etc etc. There were some other items though that I had not noticed, all having to do with the garage. First, there was some exposed power outlet cabling leading up to the ceiling in the garage. Not sure how I missed that one, but I can always do some conduit piping to take care of that. Next, there were a couple of holes between the living area and the garage itself. Not only is this just asking to suffocate from carbon monoxide, it's also not in compliance with building code. It really surprised me, considering so many other things had been recently re-done on the house. Lastly, the ventilation system (not the A/C, just general ventilation) appeared to have been neglected, which might cause issues in the garage.

I can imagine myself taking a quick trip down to Home Depot to pick up stuff for fixing the issues. In fact I was going to get some Mighty Putty to patch the holes in the walls and sand/paint over it. Of course, I have to wait until the financing sorts itself out. For the record, closing is tentatively scheduled for July 30th with a final deadline of August 21st (I think). However, my current lease expires August 2nd with an anticipated move out of July 26th or thereabouts. Needless to say, I'm eager to get everything sorted out.

Moral of the Story: If you're buying a home, get a home inspection. It's enlightening. It's empowering. It's good to have someone else do the work figuring out what's wrong with your home. Also, if something is screwed up that wasn't reported, you have leave to sue the inspector if they should have reasonably identified the issue at the time of inspection - slab damage, for example. Too many people are going without inspections because they're star struck on the home, or they have uncle Joe or the guy around the corner who claims to be an inspector, so they can save a few bucks. $325 is what I paid, and that's not too much to ask for a job well done.

Review: Amazon's Kindle

NOTE: This is a migrated entry.

I'm waiting for a call from someone...so I figure I will get this blog in order and start getting some value out of it.

Best way to do that is to share some of my consumer product reviews. I'm a bonafide consumer in the finest sense of the word...I buy and buy and buy. One thing I recently bought was the Amazon Kindle.

At first I hesitated to buy the device, seeing as it's severely overpriced, however I had some spare cash laying around and decided to give it a spin. For the record, I don't read much - maybe one book a year currently, but that's going to change in the near future as I intend to get my library back that I once had, using the Kindle as the catalyst.

I have hard books - a whole box full, the majority from the same author. The problem I currently face is the fact that I just don't feel right carrying my books where ever I go. Also some have started the edge yellowing and I can imagine what they'll look like in 10 years. I want to make it clear - I'm not one of those who buys a new book every week. I might buy one or three books a year, because it seems these days everyone is throwing a book out there and it's hard to really find one that works without sitting in a Barnes & Noble for three hours - which I wasn't inclined to do.

So you might be saying, "Then why'd you bother??" I bothered for the convenience. The ease of access to books, free samples, etc. might just compel me to read more books. Plus, if I only bought 15 full price books, the device had already paid for itself. Also, the ability to get new books directly via the device without even needing a computer was rather appealing for me. I've been using the device for over a day straight, and I've got a lot to say.

First, the negatives.

• Appearance/Style/Design: The Sony E-Reader is WAY more attractive than the Kindle. But then, Sony is always well known for having good looking devices; reliability is of course another matter. But Amazon really needs to streamline this badboy a bit.
• Screen: The resolution is fine, but I would like the ability to increase the contrast. Sometimes it just doesn't look right, somewhat fuzzy. I'm just a stickler for high contrast when dealing with black and white. The lack of color doesn't bother me too much except when browsing the Amazon store (book covers). What DOES bother me is the lack of touchscreen. I know it's a symptom of the screen type needed for e-ink, but if this had a touch screen, it would increase its value exponentially.
• Ergonomics and Comfort: I can hold the device fairly comfortably. In fact I hate holding it inside the case for some reason. Then again I've been a Star Trek watcher for years, and watching them hold the PADD, it's the same way with the Kindle. Thumb in the dead center below the screen - right on top of the logo, fingers spread out on the back rubber. The corner does not poke into my hand to where it's painful.
• Functions and Control: These are going to be nitpicks for some people, but I have to break it down. First, why is there no clock on the bottom bar? There's tons of real estate on the bar that could easily accomodate a clock, alas one is not to be seen (at least not from what I can see). If it's buried in another area, to me that is insufficient; it should be showing at all times so I can keep track while I'm reading. Second, and others have mentioned this, the lack of foldering is just appalling. Finally, you can't rename books to something more your liking - since some book titles are longer than the visible field on your book list, it's hard to distinguish books in a series if the series is named all the same with a small different subname. For example, Terry Brooks' Voyage series all starts with "Voyage of the Jerle Shannara" and then a word. In my list I can't tell which is which - very annoying. Also, you can sort by certain things, but you can't group. At least grouping or stacking options would have sufficed in lieu of foldering. Sample docs are bulkied in with books (which shouldn't happen) and I can't really organize what I've got.
• General Device Issues: The device's price, while it can pay for itself after 15 full price hardcovers, is still too high in my opinion. I would rather pay $200 for the device than its current price point, just because it is limited in some ways. Personal opinion. Also, if a book just came out, you're getting a deal. If it's an older one where there is a paperbook or used available for $5-6, you might not realize a savings on that book. Just something to keep in mind, as I don't feel that the Kindle prices adjust properly with the book's true price. It's really designed for early adopters/purchasers. On a smaller note, there is a minor delay for things to happen on screen after you press buttons. The processor must be the bare minimum allowable for the form factor. Great for battery life, terrible for processing and screen refresh speed.

Nitpicks yes...but they add up quickly.

Now for the good stuff:

• The Amazon Store is quick and easy to search and find things. It's also convenient to be able to search for a book that someone just told you about, find it and download a sample, and if you enjoy it, buy the full book, all within a few minutes. Also, the amount of books available is amazing; even obscure books like "Investing in India for Dummies" and unexpected ones like "If I Did It" have Kindle editions. Some books that were expected were not to be found - like Terry Brooks' Landover series.
• The screen does have a very good resolution to it. Text is very easy to read and not stressful on the eyes.
• Playing music while reading; Some might not like this, but I do. There's nothing like listening to the likes of David Benoit, Joe Sample, Brian Culbertson, Rick Braun, Boney James, Kirk Whalum, etc...while reading a good book!
• The built in storage is quite sufficient for all but the most frequent reader. I've got a number of books on my Kindle and I've barely cracked my space allocation.
• The cool factor. I showed it to a guy at work who was curious about the Kindle, and he was like me: price turned him off, but after seeing it in action he's seriously considering getting one.
• Battery life was quite good, even when playing music constantly. The key is to turn the wireless off if you're not browsing the store.

The biggest turn offs are:

• The form factor - too bulky compared to its closest competitors;
• The price for the device, higher than competitors;
• The lack of touchscreen capability;
• Interface/processor speed, not good at multitasking;
• Lack of foldering/grouping/stacking options to make it easier to organize your library;
• Not every book is Kindle'd. You would think that an author would want every book they published to be Kindle'd if they allowed at least one to be, but sadly this is not the case.

Some of those are personal nitpicks, as I said, but there are so many...

In summary: Do I recommend it for the reader who doesn't read a lot of books? Maybe...but not at its current price point. Right now it's for early adopters for sure. Anyone who is a book veteran and spends their hours at Barnes and Noble should just keep on doing it. However this could open up doors of potential if they do it right. Schoolbooks, more widespread Kindling of books, faster processor performance, and a better web experience would help to justify the price tag.

Buying That First Home: Consumer Credit

NOTE: This is a migrated entry.

Seventeen people showed at least a passing interest in my previous entry. Maybe I'll get more viewers on this entry, which interestingly enough is directly piggybacked to the first.

Financing had some issues at the last minute. My broker contacted me and asked me about a collection account that shows on my credit report. I'd noticed it and disputed it on all three bureaus; the only one that didn't delete it is Equifax. I didn't pay it much mind, but apparently the banks don't like to see collection accounts in my situation.

What really bugs me about it is that, out of 25 accounts, it's the only true derogatory...and it's not even mine! Want to know what's worse? My credit score has actually gone up since it added itself to my credit! You can imagine how really ticked I was to be informed that it's the only problem the bank has - so a guy who has 25 paid or positive statused accounts and one collection that shows on only one bureau, is automatically a credit risk. Yeah, okay...I know it's the credit crunch that has them nervous about such things, but still. It's not like it's ING Bank or anything.

So, I informed the broker that said account was not mine and had been successfully disputed with two of the three. I then went and faxed a dispute to Equifax to get them to take it off - I'm sure it'll be successful.

The moral of the story kids, is this. Oh, and so you know, I used to work at a credit bureau, if you're curious...

• Keep an eye on your credit, even if you're not actively looking for a home. Things will just add themselves to your report without your knowledge, companies that won't ever contact you about the debt. Get a credit screen service - I suggest TrueCredit since you can pull your report unlimited times during the subscription.
• If you're going FHA, make sure your report is as clean as it can be.
• If you filed bankruptcy in the past, you can still get an FHA loan. Just make sure that, if it was Chapter 7, it's been at least 2 years since the discharge date. If it was Chapter 13, make sure it was at least 3 years since the filing date.
• Try not to open new credit accounts in the 6 months preceding your search for financing. It's just unnecessary explaining - the only exception to that would be if you had applied to a large credit limit card for the purpose of balance transfer - assuming it will actually decrease your monthly debt and not increase it.
• Work on maximizing your debt-to-income, according to your monthly pay. Minimize your actual monthly expenses as much as possible. Monthly expenses considered are credit-based; that is, existing mortgage payments, credit card payments, loans, and credit lines. If you don't have any existing debts - car paid off, no credit cards/credit cards paid off, no outstanding loans, etc., you should be in good shape. Just make sure to keep it that way.
• if you have stored assets - 401k, CDs, etc., offer them to the financing agent. They can use those to help approve the loan by substantiating the amount of money you have on tap.
• The little known factoid: FHA lenders can consider the amount you pay per month in rent. If your rent payment exceeds the potential future mortgage payment, that can be used to get approved. Usually this is used as a last resort to getting approved. But at least you know that isn't ignored.
• And now, a free credit scoring tidbit for you: Did you know that closing credit cards can actually hurt your credit score? it's true. The length of time credit accounts have been opened is a strong factor when calculating the score, but so is the amount of "usable credit" on credit cards. if you have three credit cards open for a total of $5,000, and nothing owed on them, that results in a higher score than 20 credit cards with 18 of them closed for a total of $5,000.

UPDATE: My fax to Equifax was successful, as they have removed the erroneous debt...I figured they would, Transunion did. I contacted my broker and let him know to re-run credit as soon as he gets a chance. I'm one step closer to the goal.

Buying That First Home: Securing Financing

NOTE: This is a migrated entry.

So recently I decided to take the plunge and buy a house out here in San Diego. After such an educational experience I figured I would post something here in the hopes it is of use to others in similar situations.
I figured I would cheat the system a bit and get the financing squared away first so I didn't have to fight after the fact. I selected Chase, somewhat by accident, and went through the trouble of getting pre-approved for a rather limited amount. I really think underwriting policy needs to be edited; instead of using score thresholds to determine whether you can do an automated underwrite or not, I think it should be based on all factors considered: how much net worth the buyer has, how long they've been in the same company/position, purpose for buying, etc. The days of manual underwriting really need to come to an end, and pool those resources towards clearing out the short sale backlog.

I also think FHA's DTI is not properly adjusted to compensate for the human element: in other words, it assumes you can't afford certain levels of mortgage payment, even though that customer may be paying that or more in existing rent payments without a problem (meaning the calculation is not accurate for that specific customer). I think 50% of adjusted monthly income (AMI) is more appropriate.. AMI works like this: If I make $70k/year, I make $5833.34/month (70k divided by 12). That compensates for the irregular pay periods of some companies and allows a customer to use their true buying power. If they did that little bit, my buying power would (potentially) double, and I'd really lose no more money in the long run.

Some might disagree with that logic, thinking it's overstating income, but it isn't. That would account for the amount of money I really do make. If there's only two pay periods in the month of May and three pay periods in the month of June, and another two pay periods in the month of July, it's the same amount of income as if there was one check a week.

Anyway, I digress.

I finally chose a home that seemed within my price range, assuming grant funding, and made my offer. The bank increased the money they wanted for the home slightly and played with the numbers so they were not paying any more than they felt they should have been under any other circumstance. Great for them, bad for me...because it was $5000 outside of my buying power. My agent suggested I consider a mortgage broker with whom he was acquainted - and I will say that while that broker seems to be getting the job done, his attitude leaves a LOT to be desired. Note to readers: do not let anyone force you into signing blank forms. If you get forms that aren't filled out, make them fill them out, or give you the information so you can review it. Of course, me being an auditor, I already knew this and was ready to call him out.

Current status: I'm waiting to hear back from the broker on the final underwriting. It's really the only piece that's holding me back from closing on the house I chose. It's hard, because while I no longer have a rent payment (I gave notice earlier in the month...even if the house doesn't pan out, I've got to get out of the place I'm at), I have to have cash on tap for such things as inspections and insurance and whatever else might come up, never mind that I still have to eat and put gas in my car.

Update: One lender dropped...three more to go. Let's see which lender is smart and which are short-sighted.

Update 2: OK, so the initial lender isn't quite "dropped" per se. See my message on Consumer Credit for more information, but they're in a limbo state. The broker is dealing with a different bank who claims to be more flexible on things like this. Fingers are crossed.

Update 3: Just got a packet from the first lender with some good faith documents. I left a VM for my broker (see my Consumer Credit posting). I think come Monday, I'll have some good news!

10 Things: Issue #5

~10 Things I Hate About Dating~

1. Females who don't know how to appreciate a guy who opens doors.
   
2. The price of movie tickets.
   
3. The fact that you can never convince a female how to properly handle her finances.
   
4. The idea that just because you're dating, you're supposed to be "loyal".
5. The expectations for you - that since you're a man, you're required to treat a female a certain way.
6. The fact that females refuse to approach a guy and express interest yet they expect males to read their mind.
7. Females who are shy.
8. Females who only care about how a guy looks.
9. The fact that single females don't know how to act.
10. The fact that females who are married are always the easiest to be intimate with.
    

10 Things: Issue #4

10 Things I Hate About Being 30

1. Seems like you get sick easier, and for a longer time.
2. Girls in their 20's think you're too old.
3. Girls in their 30's almost allways have a kid to worry about.
4. Things you enjoyed just 5 years ago are not as fun now.
5. When you look at yourself in the mirror, you really don't look any older.
6. Hair loss.
7. You almost always feel like sleeping.
8. The friends you had when you were younger are still doing nothing with their lives.
9. The only real place to meet someone is at work...a bad move.
10. Gray hairs.

10 Things, Issue #3

~ 10 Things I Hate About San Diego, California ~

1. The home prices.
2. The gas prices.
3. The sales tax.
4. The state tax.
5. The property tax.
6. The Mello-Roos.
7. The home owners associations, their Draconian rules and blatant fees.
8. The fact that almost every employer wants to pay at the minimum wage level or hiring substandard talent (i.e. illegal immigrants), or they want a 4 year degree to do basic work such as Executive Assistant.
9. The gang exposure, including cholos and wannabes.
10. The fact that nobody out here seems to know how to drive properly. Everyone is always balancing a cell phone to their ear, hanging nasty cigarettes out the window, or driving illegally...which of course just encourages the city to put up radars, speed traps, and cameras.
    

10 Things: Issue #2

~ 10 Things I Hate About Females ~

1. If you tell them the truth, they think you're lying. If you lie, they get mad.
2. 90% of females are not ambitious, settling instead for that cozy job at KFC rather than getting a good paying office job - because they don't really want to work for money. Why work for it when you can just find a rich boyfriend who's stupid enough to pay your bills?
3. Every female is looking for a model-looking man, rather than accepting the fact that what really attracts two people is not the outside, but the personality.
4. Females don't really understand #3 until they've had at least one kid and been left by at least one guy they either married or nearly married...then they're open to finding a "Nice guy". But by then it's too late. Most men don't want to deal with someone who had someone else's kids, especially if that dude was a jackass and she knew it going in and didn't care.
5. Females are content to just have a male friend or boyfriend drive them everywhere, rather than paying attention to #2 and getting a car of their own (and no, not one your parents bought for you).
6. Females think it's okay to have 40 million male friends and no female friends because "Females are jealous"...even though it's well known that the reason they have male friends is the fact that it gives them options if they get "Hot" and "Bothered" without the bothersome commitment that goes along with.
7. Cute females must always have a fat, unattractive friend. That way they look even better.
8. Females never take solo pictures. There always has to be (1) an ex boyfriend, (2) a group of ex boyfriends or (3) at least one female friend. Guess what, we don't care about any of them.
9. Females always claim to want a guy who is "family oriented". Yet when they find a guy that is, they call him a "momma's boy". Hasn't happened to me, but I know quite a few it has happened to.
10. For some reason females are okay living at home until they're 30 because they're close with Mommy. Get off your butt, heed #2 and get your own place.
    

10 Things: Issue #1

Ok folks, here it is...the beginning of an era, to be sure.

Called "10 Things" it is simply that...multiplied X number of times to create an ongoing list of things that really bother me. I figured I would start out with some things off the top of my head, and see where it goes. Let's see if I can avoid overlap without thinking about it.

By the way, there is no priority order of the list; they're all equal in the eyes of whatever deity you praise.

~10 Things I Hate About My Job~

1. The fact that we have one upper manager (Director, Vice President, Senior Vice President, or "C" Level Executive) for every 10 employees.
2. The fact that we decided to change to biweekly pay to save money, yet we've downsized employees so much that the cost isn't there anymore, yet we don't go back to weekly pay.
3. The fact that 401k is only matched 50% of the first 6% contributed.
4. The fact that single employees with no children have to pay for medical benefits (we didn't before).
5. The fact that people who get the promotions get them because they complain for it, not because they earn it and are acknowledged.
6. The location (nowhere near a major freeway)
7. The changes in the industry and credit markets which make job security almost null and void.
8. Being forced to tell people what to do, only to have them not listen to me, and I can't do anything about it.
9. The Draconian way the company is managed (you can't use your PTO whenever you want, etc)
10. The fact that certain people will ask for a raise and get it, then quit...resulting in a total waste of money and illogical approval condition.

OK so it's been a while.

I have a good reason. I really do.

One thing to note about me: I'm always doing something, even when I'm not. What does that mean? It means I expect a certain quality of life, and I work very hard to get to that point, even if I'm just sitting at home. To those that don't know, the Internet is a very powerful tool indeed, when used properly. It can make a person's life better...or worse, depending on how you use it. I use it to improve my quality of life, and someday I plan to use it to get even higher in status.

But enough about that. I promise to keep up with the blog, I really do. When I get a network card for my laptop, it'll be a lot easier to do this..

I had a bright idea for some postings that will be coming in the near-to-far future. If you've ever seen Monk, there's an episode where he's asked to name all of the things he's afraid of, and he goes on and on and on...seemingly unending list of fears....well my list of pet peeves is just as long. Instead of a long boring list, I figured I would segment them out by subject. Should be fun...coming soon.

Now, what's new with me? Well....

- I bought a new car, a shiny Sebring convertible, Limited edition (of course). This was in February. I actually only bought it because my other car was starting to have idle issues, so I figured, instead of wasting money fixing it, why not just buy a new(er) one? I'm paying more money for this car.

- I've got a bid in on a custom built house with all the trimmings. Very nice house it is, and I really hope the bid is accepted, because I just love it. If it's not accepted I'll be somewhat upset, because the houses I'd have to settle for are nowhere near as nice and would require significant work to get up to the specs I desire. Regardless of which house though, my mortgage payment would be less per month than I pay right now in rent payments. Sad, isn't it?

- I got approved to refinance the above car with a better term. It's 72 months, I believe....whereas this one is 48 months. Same monthly payment, just two less years worth of interest I'm paying, lower interest rate, and a better overall financing company. Not only will I save on interest, but also payment method...the current company only takes paper checks and no electronic payments.

- I bought a platform bed and matching nightstand. I haven't put the bed together yet as I figured I would be moving soon anyway, and would just assemble it at the new place. Unfortunately it looks like I'll be at my current place for at least another month, meanwhile my back is killing me due to the precarious type of bed I have now - a metal frame under a memory foam mattress. Not comfortable, I assure you.

So yeah, I've been busy and still going. I really want to get a equity line of credit, consolidate all of my bills (including the car) and pay them all off, then just pay down the credit line over time. Dunno if that'll fly, but that's my goal.

Tune in next time as I begin the "Pet Peeve Encyclopedia".