Tag Archive | property

Heads Up For Junk Bond Investors — One Firm Puts Temporary Halt On Withdrawals!


.Anura Guruge December 2014 thumbnail

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by Anura Guruge


Related posts:
0/ BJBHX — bleeding to death.
1/ BJBHX — just to lose money!
2/ Final goodbye to BJBHX.

3/
BJBHX $0.26 cap gains for 2014.
4/
BJBHX stopped hemorrhaging for a day.
5/
BJBHX depressing news.
6/
BJBHX: sticking it out till 2015.
7/
BJBHX has decent December 2013.
8/ 
Uncontrollable Infatuation With BJBHX.
9/
BJBHX: I Bailed With Regret.

++++ Search ‘BJBHX‘ for other related posts >>>>


junkbondec112015

Click to access ‘MarketWatch.com’ original.


Though I got out, TOTALLY, from Junk Bonds in mid-May of this year, after living off them for nearly 6 years, this sent a CHILL through my spine.

IF I had still been in Junk Bonds, and at this time last year, my life depended on them, this would have been SCARY. A STOP on withdrawals is bad at any time BUT particularly so at year end. Folks have taxes to pay, e.g., Property Taxes in New Hampshire, or have need to do some rebalancing for Capital Gains etc. WOW.

So a heads up. It has, with interest rates ready to rise, been a bad year for junk. I am surprised that there is till anybody in them. I just worry that those that are in are those that are OBLIVIOUS that they are in — and that is the dastardly deed of unscrupulous brokers.

So a BIG Heads Up. Get out, with what little you have left, as fast as you can.


Quite The List Of Tax Lien Properties For Auction, ‘At Absolute’, In Campton, New Hampshire.

Anura Guruge December 2014 thumbnail
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by Anura Guruge


Related posts:
++++ Search Category ‘New Hampshire’ for TONS of other posts >>>>


camptonauct

Click to access auction site.


This Absolute Auction, by the McGlauflin Group has been in the local papers quite a bit. I like Campton. We even looked at some places in Campton in 2007 before (alas) moving to Alton.

At any other time I might have been slightly motivated to have a look at some of these properties since I am sure there are some absolute bargains to be had at this absolute auction. But the goal is NOT to buy any property in NH anymore! 


The BEST Maintained Dirt Road In Alton, If Not NH, Stonewall Road, Was Graded Toady. Maybe The First Time This Year.

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by
Anura Guruge


Related post:
>> Graded again … — Nov. 21, 2013.
>> The BEST Maintained Dirt Road In Alton, If Not NH, Was Graded Today
>>
Oct. 9, 2012.

>> Alton, NH Property Tax Rate: Highest It Has Been In Last 5 Years
>>Nov. 19, 2012.

>> Alton, NH Property Tax Rate ‘2012’: $13.68/1000 Assessed Value
>>Nov. 14, 2012.

>> Did All Alton Property Assessments Go Up 7% — August 11, 2012.


This is the first this year as far as I recall, but, I could be wrong. Plus, contrary to what folks think I am not always here. They could have snuck in and done some work while I was away. Plus, I don’t get out of bed much before 9:20 am and look outside much before 9:40. As Deanna loves to point out most normal people have got 1/2 morning’s work done before I decide to brave the day. Well, I have never aspired to be normal. 

The road is good. It needed to be graded. If the past Springs are anything to go by we should, in a few weeks, have a full time road crew billeted on the road, for daily attention. But, this year could be different! We will have to wait and see.

Click to ENLARGE.

Click to ENLARGE.

NH Town Tax Rates: Comparing The Rate Of One Town With That Of Another Is Meaningless!

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Anura Guruge


A FEW Pertinent Posts:
  +++++ do a SEARCH (>>>>) on ‘Tax’ for others’ >>>>>
1. NH Property Tax Comparison — Nov. 26, 2012.
2. Alton, NH: 23rd Lowest Tax Rate — Nov. 26, 2012.
3. Alton, NH Property Tax ‘Impact’ Has Gone Up 4% Since Last Year
>>Nov. 28, 2012.

4. Alton Tax Base Went Down for 3 reasons — Dec. 18, 2012.


Given that one of my pictures is worth 360 words written by me, I hope this picture alone explains everything.

Given that one of my pictures is worth 360 words written by me, I hope this picture alone explains everything.


In the last month of so I have been getting 40 hits a day on my NH property tax posts. Thank you. I am glad I can be of help.

I guess folks have started getting their new mortgage rates for 2013 and have finally come to terms with what is happening with property tax rates.

There is, however, a key point that I am not sure that I have still managed to get through.

In NH, comparing the tax rate of one town, say Alton, with another, say Franconia, is meaningless and pointless.

Why? Because the tax rate is dependent, tied at the hip, to the property values of that town.

There are no standardized property values — and there can never be such a thing, because property values have to, in some form, reflect market demand and market prices.

Hence, the above example. Same house. Different assessed values. [This is a hypothetical example. I do not know exactly what the assessed value will be in Francoina. Just a guess.]

So it doesn’t matter that Franconia’s tax rate is $2.24 per $1,000 assessed value higher than Alton.

The tax bill in Franconia will be lower than Alton.

I don’t know why but people always overlook this tax rate ≈ assessed value relationship. It is an inviolable. Tax rate by itself means diddly.

In the end it is all a question of the town’s budget. They have to set the tax rate based on their property base.

So there is no point going on about the tax rate of one town versus that of the other. Just doesn’t work.

Hope this helps.

Alton, NH, $18.6 Million School ‘Renovation’ Bond Fails To Pass. Just 48.4% ‘Yes’. So What Is The ‘Plan B’ Now?

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Anura Guruge


Related post:
>> They MUST Have The Votes In The Bag! — Feb. 3, 2013.


The vote for the $18.6 M bond failed to get even 50% of the vote.

No = 731, Yes = 685.

Total votes cast = 1,416.

Yes % = 48.38%.

So not even 50%.

So what now, mad cow? What is ‘Plan B’. Prior to the deliberative session I advocated the need for a ‘Plan B’. But, people thought they knew better. Well … what now, mad cow?

Everybody agrees, vehemently, that something has to be done to fix the issues at the school. I have yet to meet anybody who disagrees with the need for some renovation. The issue has been the price tag.

That is why I was an open supporter of Steve Miller’s $7 Million bond proposal.

Those that zeroed it down. What now, mad cow?

I have already heard that the new ‘Plan B’ is to try again for the $18 M bond next year. Tell me that that is a joke.

Already we are close to the definition for insanity. Repeatedly doing the same thing HOPING for a different outcome.

Well we know who put the school and kids in this sorry situation. Those that just could not see in them a way to compromise. I hope some have the decency to resign from the various boards and let some new folks come up with some new proposals that can get the votes. Our kids deserve better.

Steve Miller said it so well. They were going on
ONE ROLL OF THE DICE

The dice as it did last year did not come up the way they wanted.

Time for a realistic proposal that can get the votes.

For Alton Selectmen:
Lawerence Tilly  468
Robert Loring Carr   600
Robert W. Daniels   690
Stephen P. Miller   480

School Board:
Krista A. Argiropolis  672
Carlos Martinez  660
Christine Michaud-Tilly  643
(Write-in) Mary Doherty Murphy   97

Digging Into What Is Happening To Alton, NH Tax Base. Gone Down $180 Million Since 2008.

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Anura Guruge


Related posts:
[do a SEARCH (>>>>) on ‘Tax’ for others’]
1. Alton, NH Property Tax ‘Impact’ Has Gone Up 4% Since Last Year
>>Nov. 28, 2012.

2. Alton Tax Base Went Down for 3 reasons — Dec. 18, 2012.



I had looked at this once before in mid-December 2012 using data I got online from the State.

This week I went and got some data from the Town. Thanks, folks. That was excellent.

This is what they gave me.

Click to ENLARGE.

Click to ENLARGE.



I can’t look at numbers unless I throw them into a spreadsheet and do a bit of crunching.

I did that.

This is what I got.

Click to ENLARGE.

Click to ENLARGE.



I have been paying property taxes in NH for 27 years — sometimes in multiple towns. I know how it works quite well.

In 1987 I nearly got lynched in the town I was then living in. They had got a brand new, computer system to do their taxes — their first foray into computers. They had a glitch in it which precluded them from sending out the tax bills. The bills were 3 weeks late. I happened to go to the Town Hall to register a car (or something) and was told about the problem in passing. I fixed it in about 10 minutes. The bills went out the next day! The word got out that that ‘brown guy’ who had mysteriously appeared in town (and who worked for some computer company in MA) had fixed the system. But, the Town Hall, especially the Tax Collector, and all who got paid from the town (like the police), loved me ever since.

In NH, the tax rate and the tax base are connected not just at the hip, but from top to bottom.

Lets say that by some miracle a Town managed to operate on a flat budget over a number of years. If, however, despite the flat budget the tax base went down — the tax rate has to go up to make up for it. If the tax base goes up, the tax rate goes down — provided the budget doesn’t change.

It is a titer-totter.

In NH, a Town’s tax rate by itself tells you diddly! It has to be coupled with the tax base — and the formula used to assess property in the town

Take Concord. They have a higher tax rate. I think $24 per thousand. That doesn’t however mean that they pay 1.75 times more in property taxes than Alton. Why? Their assessed value on homes is less. You now have to factor that in. If you take a house assessed at $200,000 in Concord and put it on my lot in Alton (in place of this house), it won’t be assessed at $200,000 in Alton! That is the titer-totter. The snakes-and-ladders as we properly call it back home (and we invented the game).

To me this is but intellectual curiosity. No axe to grind. I have learned over the years not to get excited about changes in a Town assessed base or tax rate. If one goes down the other will go up. C’est la vie.

Alton, NH, $18.6 Million School ‘Renovation’ Bond In March: They MUST Have The Votes In The Bag!

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Anura Guruge


Related posts:
>> Another ‘Must Read’ Letter In The Baysider … — Feb. 1, 2013.
>> ACS Super. William Lander Estimates ‘$1 per $1,000’ …
>>Jan. 31, 2013.

>>
To Read Steve Miller’s Letter In ‘The Baysider’ — Jan. 21, 2013.
>> Stephen Miller: The Lone ‘Voice of Reason’ … — Sept. 25, 2012.


I attended today’s deliberative session at Prospect Mountain High School kind of against my own better judgement because I know how these things drag out, pan out and I really am very short on time. But, I am glad I went. According to my friend, Bob Longabaugh, the keeper of Alton’s voting statistics, only 172 of the 4,022 registered voters (4.28%) attended this session.

Well, it appears that the backers of the full $18.6 Million bond have the requisite 60%(+) votes in the bag already and that today’s session was just a formality to let people have a say in public. Bravo.

I am NOT surprised. Last year I was told that they had the votes to pass the warrant, even with the faulty wording, and even force the necessary hearing by a judge. I heard this from multiple informed sources, without equivocation. So, I was kind of baffled when it didn’t pass. But, I worked it out. They held their fire [i.e., vote] realizing that the faulty wording required the uncertainty of a judge’s intervention.

So, this year, with the warrant in place, without encumbrances, they will pull the voters out of the hat to get it to pass.

OK. That is good. As school board member Steve Miller, who was as ever eloquent and impressive, noted, we will just have to pay the higher taxes. C’est la vie. Fait accompli.

That they have the votes already and the deal is done is good for the kids. They will now get the $17 Million school upgrade that they have been clamoring for so long. You have to congratulate them on their tenacity, persistence, doggedness and ultimately their SUCCESS. I tip my hat to them.

The reason I am now 120% sure that they already have the necessary votes pledged, in the bag and locked-up is that they made sure that there was NO OTHER choice. No ‘Plan B’, no contingency plan. If this, for some reason, doesn’t get the votes …

Steve Millers $7 Million proposal to zeroed down to $1 — something Steve expected from the start.

An alternate amendment to change the $18.8 M to $4.x Million also failed.

So, there is no contingency plan, of any sort.

That is never my way. I am Mr. Contingency. I don’t even sneeze without having a contingency plan! I am not joking. Yes, I can think fast. Before I sneeze I have a contingency plan to recover from what could go wrong. When I was in high tech, those that knew me well used to joke that I had contingency plans for my contingency plans. In the 600 or so seminars I have done around the world you would never have seen me struggle like they did earlier in the meeting with their PowerPoint presentation. Even when we used 35mm slides and projectors, not only would I have two projectors, but 3 bulbs in my trousers. That debacle with the PowerPoint alone should have been an object lesson, am omen, as to why you always need contingency plans. But, that is me. [Plus, I have never done a PowerPoint that didn’t have a single graphic! A renovation presentation with no pictures! Screen placement and zooming such that it could only be read by 40% of the audience. It was the 1970s when we typed presentations onto foils. Never mind the mike that didn’t work.]

Contingency plans give you flexibility.

I have rarely seen unanimity as I saw today at the session. Everybody was in violent agreement that SOMETHING had to be done to fix the manifold problems at ACS. All the discussion was about how much should be spent.

It reminded me of the joke of a man propositioning this lady of dubious character at a bar and the conversation going: ‘we have already established that you would do it; all we are doing now is trying to agree on a price’.

The price has been agreed $18.6 Million.

No other alternatives. No other options. No other choices.

So there can be NO POSSIBILITY of this failing. If so our poor kids are screwed, totally. That is not acceptable and nobody wanted that.

ONE ROLL OF THE DICE
— but luckily for us, the dice are already loaded,
right?

This is a sure thing? Right?

The Baysider might as well already write the story that the $18.6 Million bond passed with 65% of the vote. They might as well start work now.

Another ‘Must Read’ Letter In The Jan. 31, 2013, Baysider, About The Alton Central $18 Million Plan (Again).

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Anura Guruge


Related post:
>> ACS Super. William Lander Estimates ‘$1 per $1,000’ …
>>Jan. 31, 2013.

>>
To Read Steve Miller’s Letter In ‘The Baysider’ — Jan. 21, 2013.
>>
Stephen Miller: The Lone ‘Voice of Reason’ … — Sept. 25, 2012.


Click to access 'The Baysider' article in the Jan. 31, 2013 issue.

Click to access ‘The Baysider’ article in the Jan. 31, 2013 issue.


I do not know this gentleman, or at least I think I don’t know him. I am very bad with names and faces. So he could be a parent that I chatted with, but never knew his name.

As with Steve Miller’s letter two weeks ago, I liked this letter. I liked it a lot. It hit a chord.

A few of the points mentioned have been discussed on this blog, relative to my post endorsing Steve Miller’s letter.

I am not sure if all of the points are accurate. I had thought that the infamous survey was conducted using grant money. If it was not, I would be distressed. As far as I know, there are ‘x’ kids in ACS right now, who are technically homeless, that ‘x’, as far as I remember, in the ‘6’ range. Plus there are over a dozen kids who are considered at risk for not getting a proper meal during the weekend. ACS packs backpacks for them with food. Sod a survey. If we have that kind of money to burn the board should be using it to feed these poor kids or get them housing.

The issue of the ‘one architect’ that I griped about comes up. I have an e-mail, from an interested party, that implies that the architect was paid — albeit, not the $750,000. Having just one firm, with so much to gain, bothers me. Mr. Daniels, as did I, mentions LOCAL experts. He also talks about cost per square feet. Yes, in the past, when I lived in Meredith and Gilford I explored adding extensions. Had binders of builders giving me estimates. I remember them always talking about $1xx per square foot. I had also heard that when I was buying property (and I have bought and sold quite a few) and especially when I was having them appraised. So, that had crossed my mind. Asking some of OUR parent builders what they would estimate per Square Foot. Some of them have built mansions. They would know.

My background is all in corporate. In the corporate world some of the words that we had to always contend with were: due diligence, full disclosure, conflict of interest. Well, as the comments have loved to point out I am not an expert in this matter — and do not plan to be. I don’t keep a dog and bark myself. I totally trust people like Steve Miller and I know that he, also with a solid corporate background, knows his stuff.

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