Peter's Blog

Buy a Home, Save Money!

Peter Z. Nikic — Mon, 25 Jan 2010 10:15:17 -0600

Buy a Home, Save Money!

The first thing that most people think when buying a home is, "How much is it going to cost?" What many people fail to ask is, "How much am I going to save?" I know it might seem contradictory at first, but you can actually save quite a bit of money by buying a home.

No, I'm not talking about buying a home in a depressed market therefore saving what someone might have paid in a high market. I'm talking about saving money, lots of it, in the long term!

First let's see how a typical person thinks about saving money, I call this Disciplined Saving. A family earning $100,000 per year might be able to save $1,000 per month. After paying for housing (rent - approximately $2,000 per month), taxes, groceries, etc saving $1,000 per month on a $100,000 annual income will not be easy. Let's assume that someone were able to do this. To keep it simple, we will not adjust for inflation; include interest on savings and taxes paid on that interest.

At this rate, a family will save $12,000 in 1 year, $120,000 in 10 years and $360,000 in 30 years. Not bad huh? Yes, it does seem pretty good to me too. A disciplined person/family can do this and be able to save a substantial amount of money over a long period of time. If this is you, congratulations, you will do well. Unfortunately, with the cost of living continually rising, this feat is nearly impossible for many people.

If you're like most people who have difficulty saving money in this manner, then buying a home may be the alternative way to accomplish the same goal.

Now let's see how buying a house can help you achieve the same goal, I call this Forced Saving. For simplicity we'll use the same income levels and leave out inflation, interest paid and tax write-offs.

The same family earning $100,000 per year buys a home. The price of the home will have to be in the range where monthly expenses (mortgage and taxes) do not exceed $3,000 per month. Based on today's interest rate (5%), this family should be able to buy a $350,000 house. Monthly payments on this house at 5% interest rate are $1,500 (with 20% down payment). Add in real estate taxes, utilities and repairs and monthly expenses should fall well below the $3,000 per month limit.

So far, the most difficult challenge we have is to come up with the down payment ($70,000). The down payment will have to be saved using the Disciplined Saving method unless you acquired it in some other way (bonus, lottery or willed by a rich uncle). It's also possible to buy with a lower down payment, especially first time home buyers and take advantage of current $8,000 tax credits.

Ok, you buy the house, now what? All you have to do is just keep making your monthly mortgage payments, taxes and other upkeep of your home and the savings will happen on its own. Monthly housing expense will be a little higher than it was when you were renting which will leave less disposable income. The housing cost will serve as Forced Saving.

Here's why it works; on average real estate doubles every 10 years. While in the Disciplined Saving method you will see your savings grow, in the Forced Saving method it may not be so evident for a while. Let's be conservative and assume that your home's value will double its original value every 10 years. After 10 years, your home will be worth $700,000. In 20 years your home will be worth $1,050,000 and in 30 years, it will be worth $1,400,000.

Wow! That's $1,400,000! If you take away the original cost ($350,000), this leaves you with $1,050,000 in savings over the same 30 year period. That's approximately 3 times more savings than if you had put aside $1,000 per month (which we identified as being very difficult).

You're probably thinking, No Way! This is not possible! Don't you see what's happened with real estate? The real estate market cannot possibly continue to rise in this manner!

Yes, I know that the real estate market tanked in the past couple of years and what was gained seems to be lost again. While this may be somewhat true, it's not entirely true. Most people have short term memory and I'm talking about long term (30 years).

Looking back in the past 5 years, the price of most homes is lower today that it was 5 years ago. But looking back 10 years, the price of most homes is much higher today (2010) than it was in 2000. Going back even further, home prices in 2010 are significantly higher than they were in 1990 and even more so since 1980.

Don't believe me? Ask someone who bought their house in 1980; ask them what they paid for it. You will find that they paid $100,000 or less for a house that is easily valued at $400,000 or more today. That's 4 times greater!

You're also thinking that it's a lot easier for a $100,000 house to go up to $400,000 but it's not possible for a $350,000 to go up to $1,400,000. Really? Well go find a $1,400,000 dollar home and find out what it cost back in 1980. I'd be willing to bet that it was right around $350,000.

Do you want to use the Disciplined Saving method and put away $1,000 per month and in 30 years have $360,000 (plus compounded interest) in savings?

Or do you want to use the Forced Saving method to buy a home and in the same 30 years have $1,050,000 in savings?

It's your choice.

Peter Z. Nikic

Licensed Real Estate Broker
& Investor (NY)

Contact: Peter@Nikic.com
Tel:(914) 804-0037

5 BR, 4 Bath house in Pleasantville, NY - $899,000

Peter Z. Nikic — Wed, 16 Sep 2009 08:36:59 -0500

Pleasantville, NY

Pleasantville, NY

5 BR, 4 Bath - $899,000

Lovingly maintained, immaculate home on one of Pleasantville's most sought-after streets. Built in 1963, half acre of property; walk to all Pleasantville Schools, park, train, stores, theater. Over 2,800 sq. ft. - 4/5 bedrooms, 4 full baths; central A/C, 3 zone heat; eat-in kitchen with all new appliances; home alarm system; new windows; hardwood floors throughout; fireplace; seperate walkout on lower level. Exterior painted in 2003, interior painted in 2005. Two screened in porches (not included in sq. ft.) Two car garage. New washer/dryer. Lots of closets/storage space. All window treatments included.

Call or email (Peter Nikic) for questions, exact address and directions if interested.

Peter (914) 804-0037

For more Photos click here or on any one of the photos above.

How in the world does the market create pricing?

Peter Z. Nikic — Mon, 14 Sep 2009 11:07:01 -0500

How many times have you been in situations where you saw a house that was priced much lower than the same house in another neighborhood or state? I feel that I run into these situations all the time.

So what is it that creates these fluctuations in price? How does the "Free Market" do this?

It's really a lot simpler than most people might imagine.

A house can only be sold for the price that a buyer is willing (or able) to pay. Why do I say able? I say this because most people will pay approximately 1/3^rd of their income on housing. So a buyer is willing to pay approximately 1/3^rd of their income because they are able to.

Yes, there are conservative people out there who buy modest homes in comparison to their income. Needless to say, that these people either have financial security because they're wealthy or because they're just conservative. They most likely will never face foreclosure on their homes.

And yes, there are people who buy homes that they cannot afford. They expect to make more money in the future which may not always happen. They may lose their jobs or sustain other unforeseen losses. These days, we're seeing a lot more of this type of buyer, hence the foreclosures.

If we analyze this middle section of people who pay approximately 1/3^rd of their income on housing, this is actually the Market and what creates the Market Value (or price) of homes.

Let's look at this backwards. If you earn $36,000 per year; you will be able to afford approximately $12,000 per year for housing. This just happens to break down nicely to $1,000 per month. Whether you are renting or buying, your monthly housing costs cannot exceed $1,000 per month. Makes sense so far?

Now with your $1,000 per month you begin your real estate search, knowing your budget, you eventually find a house or apartment.

Let's say that everyone in your town also makes $36,000 per year (or at least let's say this is the average household income). What do you think the average cost for housing is going to be in your town? If you guessed $1,000 per month, you're right. Of course there are always some variations, but it cannot be any higher because the average household cannot afford to pay any more. Also, it will not be any lower because the seller will always hold out for the highest price which in this case is $1,000 per month.

Still doesn't make sense?

In this example, the average household can only afford $1,000 per month for housing. To simplify this, we won't factor in utilities, taxes, etc, but focus on basic housing costs. If the average household can pay $1,000 per month, then the average sale/rent cannot exceed this. This means that the average sale (or rent) cannot exceed a price which will cause the monthly payment to exceed $1,000.

An average house in this neighborhood will most likely be around $200,000. How did I come up with this? If you buy a $200,000 house with 20% down payment, you will qualify for a $160,000 mortgage. At 6% interest, a $160,000 mortgage payment is just under $1,000 per month.

This is the basis of how this works:

If the average household income is $1,000 per month, then the average home will cost no more than $1,000 per month.

One of the factors that can greatly change the price of a home is the interest rate. If the interest rate was 10% (instead of 6%), then average home would only be about $140,000. At an interest rate of 10% the same person would only qualify for a mortgage of $110,000 plus 20% down payment, making the average home $140,000.

What if the average home in this neighborhood is listed at $250,000. What do you think would happen? Don't think too deep, that is exactly what is happening right now. That is why we have more inventory then buyers and until the prices start coming down, sales will be slow.

Basically, the average home is currently greater than the average income, the result is fewer sales.

(The chart was taken from: http://seekingalpha.com/article/123154-housing-where-is-the-bottom it clearly illustrates my point).

Remember, it's not the home that sets the price, but the income of the household. Interest rates, taxes, utilities, travel expenses, etc are factors that also play a major role.

A few years ago, home prices began to rise at unsustainable rates. What caused these prices to rise so sharply? Did you notice what a drastically difference in price of our $200,000 home when the interest rates went from 6% to 10% (down to $140,000)? Without getting into too many details, people were getting mortgages at 3% with a low down payment. This allowed them to buy that same $200,000 home for as much as $250,000. Before anyone realized what was happening, those $200,000 homes were selling for $250,000. If the 3% interest rate was fixed for 30 years, there would be no problem. But the problem become clear when the interest rates adjusted back to 6%, thereby devaluating those homes back to $200,000.

Do you know someone who bought that $200,000 house for $250,000? They probably took out a mortgage of $225,000. What happened? It seems that the value of the house is actually lower than the mortgage. Where are these houses today? Foreclosure?

A town with an average annual household income of $36,000 will have homes that average $200,000 where a town with an average annual income of $72,000 will have homes that average $400,000. Those homes could be identical in every way except price.

The difference? Average household income.

Wanna know how to catch a Monkey!

Peter Z. Nikic — Thu, 10 Sep 2009 15:07:27 -0500

Catching up with a friend, we got into the conversation of real estate. Not a foreign subject to either of us since I am a licensed real estate broker, he is a contractor as well as both of us being multi-property owners. The conversation began when I asked him if he knew of a particular large scale property owner. I mentioned that I was trying to reach him in efforts to buy one of his buildings which he purchased 2 years ago and is now in financial trouble.

He proceeded to tell me a couple of stories regarding people that he knew that ended up losing large multi-family properties only because they were too stubborn to sell them at the right time and at a reasonable price. I chimed in with a couple of my own stories, and then we discussed how a mutual friend is currently in this same position. Though we both feel bad for our friend, there's little we could do to help him.

After a while, my friend asked me "Do you know how to catch a Monkey?"

I responded "How?"

He said put a banana in a bottle. When the monkey sticks his hand in the bottle to pull the banana out, his grip around the banana in a horizontal position, will not allow him to pull it out. Of course the monkey won't give up so easily, he will continue to try and pull the banana out until he is caught.

He added, "That's the problem with a lot of people and real estate these days. They don't know how to let go of the banana."

I thought this was such a great analogy, that I kept using it the rest of the evening. It seems that many of the property owners that each of us had dealings with did not know how to let go of the banana. Their properties fell into disrepair and eventually were lost to foreclosure. After each subsequent story, I would chime in "they didn't know how to let go of the banana."

Then I mentioned the large scale property owner again. I said that's why I need to get in touch with him. If he's a large scale property owner, he should know how to let go of the banana. He agreed that these types of owners usually know.

Do you know a property owner who's acting like a Monkey? Will someone please tell them to let go of the banana!

Thinking about buying an apartment building in the Bronx?

Peter Z. Nikic — Fri, 04 Sep 2009 15:34:41 -0500

Many of my friends own apartment buildings in the Bronx. I also owned a building there several years ago. If you're unfamiliar with the area, you're probably saying to yourself "Now why would anyone want to buy a building in the Bronx!"

Well, if you're a real estate investor and live in the NYC area, then buildings in the Bronx technically qualify as real estate. Like anywhere else, the Bronx has a wide variety of real estate including warehouses, office buildings, retail centers, private homes, coops, condos and my favorite, apartment buildings.

This was the building that I once owned. It's a 5 story walk-up building with 19 apartments, 2 stores and as you can see from the photo, 2 billboards. Though a little too small, it was a great building to own. I do regret selling it, but at that time, my circumstances were such that I needed to sell it.

So, what do you think so far? Still think I'm crazy? In all honesty, owning and managing apartment buildings in the Bronx is not easy. I guess you have to be a little nutty to want to do this. Yet from another perspective, it could be very rewarding both personally and financially.

When you own an apartment building, you are housing many families, how could this not be personally rewarding? I don't make it a habit to be best friends with my tenants, but I always maintained good relations with them. For the time that I owned the building, I renovated some of the apartments, installed a new intercom system, installed a new boiler, and replaced the roof. Yes, I spent a lot of money, but I had 19 families that needed to stay warm in the winter. They needed the security of an intercom system. Their lives were more fulfilled with a cleaner more well kept building.

But this is a business, not a charity!

Yes, I spent a lot of money and time upgrading and managing the building, but I had 22 paying tenants. The money I spent came from them (at least from those who did pay their rent). These improvements made them happy to pay their rent, which in turn allowed me to make a profit.

The tenants were happy, the building was upgraded and kept clean and I was making a profit. How else can I view this, other than personally and financially rewarding?

Over the past few years, my circumstances changed, once again allowing me to own and manage apartment buildings in the Bronx. I've been looking for some time now, but so far unsuccessful. It seems that over the past few years, the Bronx was infiltrated by large scale investors and REITS. This caused the apartment building market to falsely inflate. Sort of like the rest of the real estate market across the country.

On the surface, it might seem like a good thing, but the problem with this is that many owners are having a hard time selling their buildings at realistic prices. They either sold some properties or knew someone who sold properties at much higher prices a couple of years ago. They can't seem to accept that those prices were unrealistic. For the buyers who bought at those prices, they either have deep pockets or will inevitably have financial problems. For those with deep pockets, they will be able to survive and make it up in the long run.

What is disturbing to me, is those who don't have deep pockets. Their financial problems will become personal problems for the many families that they are housing in their buildings. There is no need for this. The frenzy that lead them to overpaying, is causing problems for everyone including for those of us who are ready to buy.

Properly managing a building in the Bronx takes a lot of work, but overpaying makes it virtually impossible.

Here are a few suggestions on what to look for:

•Ø Get a clear understanding of the income and expenses.

•Ø Know the condition and location of the building

•Ø Plan to spend more time than you think it will take

•Ø Plan to make less money than you think you will make

Over the past 15+ years, I've owned and managed apartment buildings which allowed me to gain a lot of invaluable experience. In addition, I've created spread sheets which allow me to evaluate an apartment building in just a few minutes. I also learned to forecast property values, income, expenses and long term growth with excellent precision. My intention is to use this for my benefit as well as the benefits of dozens maybe hundreds or thousands of families.

If home prices drop, should property taxes drop?

Peter Z. Nikic — Fri, 24 Oct 2008 08:47:42 -0500

In the current edition of Realtor magazine, there is an article written by John E. Grippa. He says as home prices drop, so should property taxes.

After reading the article, all I kept thinking was that there seems to be something wrong with this concept. I don't mean that John E. Grippa is wrong; I mean there has to be something wrong with the way taxing jurisdictions create their budgets.

I was always under the impression that a taxing jurisdiction had a certain budget, a somewhat known and fixed obligation to its area. For example, they would add up all the costs of the services provided (schools, police, town, emergency, roads, water/sewer, etc) then they would tax according to those needs.

It seems to be just the opposite. It seems like most taxing jurisdictions throughout the US assess residential property based on market value. This means that they create their budget based on how much taxes they can collect. So if property values go up, they collect more. John E. Grippa said that as property values go down, we can appeal those taxes and have them reduced.

But if our taxes are reduced, are the services also reduced? Will garbage collection stop? Will the roads not be plowed in the winter? Will some other service stop or be reduced?

So my question is if taxes are reduced, will services be reduced? I can't imagine that the somewhat fixed services will be reduced. But in thinking this, what happened to the extra income when taxes were higher?

Going back to the time when home prices were increasing and taxes were increasing. Why were our taxes increased to begin with if the services provided were already being paid for? What did these tax jurisdictions do with all that extra money?

Besides the possibility of these tax jurisdictions having more money than they need, this becomes our burden in many ways. First, as property values increase, so do our taxes with no effort or control from us. But as property values decrease, we have to spend time and money to appeal those taxes. Secondly, higher taxes make homes less appealing and affordable to potential buyers which force us to appeal.

This doesn't seem fair to me; what are your thoughts?

Print My Blog!

Peter Z. Nikic — Fri, 06 Jun 2008 07:54:43 -0500

Recently, someone asked me if they could print one of my blogs so that they could share it with their family at the dinner table. I didn't see any problems with that, so I said of course (I actually felt honored).

Then several days ago, I read a blog Printing tip for AR blog posts - CLOSE THE TAG CLOUD that got me thinking. I realized that there were probably more people printing blogs that I might have imagined.

I looked over my blogs and decided to create them in pdf, and a link "print this blog". This would allow a perfect print each time. This would prevent distortions, wasted paper, words being cut, etc.

So here are some of my printable blogs:

Here are the links for the actual blogs:

What do you think? If you like the idea, you can do it too. Once you have the blog written, it doesn't take much more time. I will write a follow-up blog with directions for anyone who doesn't know how to do this.

Real Estate, is it the right investment for you?

Peter Z. Nikic — Wed, 09 Apr 2008 13:09:58 -0500

Real Estate, is it the right investment for you?

Do you feel like you missed the last real estate boom! Who knows when the next boom is going to occur. You can't wait another 5, 10 or 15 years. You want to get in on the action now! You've heard dozens of stories how your friends and their friends made a ton of money with real estate.

Did you miss out, or not?

Based on the stories you heard and what was happening in the real estate market, many people began to buy real estate on speculation. Of those who did (in 2004 or 2005), many wish they'd never had. Unfortunately, many of these people, instead of making money with real estate, are now facing foreclosure, bankruptcy or other serious financial problems.

Now, I bet you feel better that you didn't invest in real estate (at least not in the last couple of years).

But was is better?

The answer is not always clear cut. I purchased a property at the height of the market (in November of 2005). Did I make a mistake? Am I facing financial trouble? Actually, quite the opposite. Within 2 years of my purchase, the value of my investment jumped by over 50%. My initial investment was 25% of the total purchase price, which brought my 2 year return to more than 200%.

How was I able to get such great returns, while others who bought at the same time are facing foreclosure?

If you need a quick simple gimmick on how to make money in real estate, you'll have to watch those late night infomercials. BTW, I've never seen one, so I couldn't tell you if they work or not.

So how did I do it?

The simplest answer that I can give, is that I understood the real estate market, I have quite a bit of real estate experience, and I was aware of the type of property that I was buying.

Can anybody do this? Yes. Anyone who has the knowledge and experience or anyone who is working with someone that has the knowledge and experience. I didn't mention, that I have a partner in this investment. My partner has limited knowledge of the real estate business. However, my partner was knowledgeable enough to know not to attempt this on her own, but to partner with someone who already had the knowledge and experience.

BTW, my partner Lynda Shenkman Curtis, is a photographer. She's a great photographer, she took this head shot of me. Like it?

Some things in life are just not as simple as they appear. Real estate is one of those things that you'd better have the knowledge and experience or partner with someone who does. Otherwise, don't do it! The lure of easy money can get you into foreclosure, financial stress or worse, bankruptcy.

So, is real estate the right investment for you?

If you're still not sure, send me an email. Maybe I could help you decide. If you're in Westchester County or NYC area and are looking for an experienced and knowledgeable partner, email me.

Sincerely,
Peter Z. Nikic
Licensed Real Estate Broker & Investor (NY)
Contact Peter Nikic
(914) 804-0037

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I Love NY . . . How it all started?

Peter Z. Nikic — Tue, 22 Jul 2008 11:47:10 -0500

The year was 1977, New York City, on the verge of bankruptcy, dreary, dark, crime was rampant. It was like a scene of Gotham City from "Batman." Real estate was so bad; the City of NY became the biggest landlord in the city as landlords abandoned their buildings, the city obligated to pick them up and keep them running.

So how is it that now, just 30 years later, the NYC real estate market is hotter than ever and everywhere you turn you see the slogan "I Love NY". Even if you're not from NY, more than likely you've seen this or a similar slogan such as "I Love John" or "I Love TX". How did this "I Love . . . " craze begin?

We even have a group here on Active Rain called "I Love NY".

You must have wondered how or when this started.

Last year, I've had the privilege of speaking with the creator of the "I Love NY" advertising campaign. It was a momentous time because it was now 30 years since he originally kicked off the campaign (in 1977).

New York was running out of money and time. The New York State Tourism Department needed to do something to improve the image of NYC. With a very small budget, they hired a NYC advertising agency headed by Stan Dragotti and Charlie Moss. I had known Stan for several years and was most impressed by him having been married to supermodel Cheryl Tiegs. But when he explained to me how he created and developed the "I Love NY" ad campaign, I was totally mesmerized (sorry Cheryl).

His idea was to incorporate all of the Broadway actors and have them sing "I love New York". The ad campaign was a success; the jingle became NY State's official song, the "I Love NY" slogan stuck. The TV commercial became one of the greatest commercials of all time.

In less than 30 years, New York went from being a dark, crime ridden city ranked 8^th most desired city in the US to visit, now the #1 tourist destination in the world. I don't have to tell you that real estate values have reached skyscraper proportions and NYC is no longer the biggest landlord in the city.

Stan Dragotti also went on to direct several movies including "Mr. Mom" starring Michael Keaton and "Love at First Bite" with George Hamilton as well as others. He also won the Tony Theater Award in 1978 for his "I love New York Broadway Show Tours." As for me, I am honored to know him and that he is of Albanian descent, which is how I got to know him in the first place.

Location! Location! Location! . . . . for a Domain Name?

Peter Z. Nikic — Mon, 28 Apr 2008 15:21:23 -0500

Location! Location! Location! . . . . for a Domain Name?

Being a Realtor® you already know that location is everything! If you read one of my previous blogs, you know that Domain Names are becoming the Real Estate of the 21st Century. So if this is true, how do you factor in location?

Does the Internet even have anything to do with location? Well, a website can reside in any computer anywhere in the world as long as it is connected to the Internet. Because of this, geographic location (a location that can be found on a map) is not necessarily important, but a virtual location (that can be found by your browser or a search engine) is very important.

The .com DNS (Domain Name Server) stores all domain names which end in .com (every single domain name must be unique). So if you were in the business of selling cars, you might have domain names such as chrysler.com, mercedes.com or toyota.com. What if you sold many different cars or cannot register one of those domains because they were registered by their respective auto manufacturers. You could register a generic name like cars.com. That would be a great name, right? Yes, except we're all a little too late in registering this domain name. Because this is such a great, common and generic name, it would be easy for search engines to find it and people to remember it, so it has great value. In other words, cars.com is prime real estate on the Internet.

The .com suffix of domain names is equivelent to New York City real estate. Our example of cars.com, is like Park Avenue. There are other suffixes to consider such as .org, .biz, .net, .tv, but these would be considered more like class "B" or class "C" properties. If you recently tried to register a .com domain name, chances are it was either not available or the price was really high. Did you know that diamond.com recently sold for $7.5 mil dollars? Location! Location! Location! . . . of the Internet.

So the next time you hear that domain names are like real estate of the 21st century, you'll know why. If you'd like to read more, do a google search or read this nice article on Realtor.org by Michael Russer.

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Peter Z. Nikic

Licensed Real Estate Broker
& Investor (NY)

Contact: Peter@Nikic.com
Tel:(914) 804-0037

What's in a Domain Name?

Peter Z. Nikic — Thu, 17 Apr 2008 16:45:39 -0500

What's in a Domain Name?

Haven't registered your own domain name yet? No problem. You did register it, right? but have no idea what to do next? No problem. Wait, you registered your domain name but you don't seem to have any control over it? That's a problem.

First, let's try and understand what a domain name is. Simply, a domain name is like a telephone number. You cannot, ever get a telephone number that someone else is already using. Every single telephone number has to be unique. Otherwise when you call someone, how else can the telephone company ensure that you reach the person you intended to call?

The domain name works the same way, only it is on the Internet. If you enter the address www.activerain.com, you are guaranteed to reach this site. So if it's that simple, why are we having so many problems with this?

Remember when we only had one telephone company? If you wanted to get a phone, you called "The Telephone Company", we didn't have any other options. Now however, we have a whole bunch of options. There are dozens of companies for all categories of calling (business, local, long distance, wireless, VOIP, etc.) Today, getting a phone is more complex than ever.

As simple as domain names are, it seems more complex because the Internet and computers are still relatively new to most of us. In addition, there are thousands of companies who want to provide service for you. So where do we start? Many of us have no idea what to do except what some service provider is telling us that is best for us. In reality, we don't know if it's best for us or best for them.

My suggestion, if you have not already registered a domain name. Go to a Domain Name Registrar, this is a company dedicated to providing domain names and holding them in a Domain Name Server (DNS). Their primary business should be to do just that. Here's a list of just a few Domain Name Registrars (there are many others):

enom.com
godaddy.com
networksolutions.com
register.com

I like register.com for researching. If the name you are looking to register has already been taken, they recommend a list of similar names that are available to register or buy. They also provide a "whois" link, which tells you who owns the domain name (in case you're interested). Godaddy.com seems to be very popular these days, I've never used them, but I'm sure they are one of the better ones and should have everything you need to register a domain name.

Now that you have a registered domain name, what do you do? The most important thing is to maintain control and ownership of your new domain name. Don't give out your username and password to anyone, treat it like your house key. There will never be a need for anyone else to keep it, use it, move it, etc.

There are 2 other major components of a website. One is, "who will build your website?" and the second is "who will host it?" Neither of these 2 things have anything to do with ownership and registering your domain name. Your domain name should be residing at some independent Domain Name Server (DNS) that is controlled by you.

3 major components of a website:

Domain Name - you should always maintain control of this regardless of who the website builder or website hosting company.

Website Builder - webmaster - this could be you or anyone who knows how to design & build websites.

Website Host - server which stores all of your web pages - this is a computer which physically resides anywhere in the world and provides your website pages when people enter your domain name.

Process of getting to a website:

Enter a web address ex: activerain.com

Your browser sends a message to the DNS (Domain Name Server)

The DNS knows where the website is residing and connects you to the web hosting company server

The web hosting company sends the webpage to your computer

The website is now displayed on your browser

And you thought it was hard? There really is a lot going on, but all of this happens at lightning fast speed at the click of a mouse. Any other questions about domain names? just ask.

Finding a webmaster: when you see websites that you like, ask who the webmaster is. If you know some one who is good, let us know.

Finding a hosting company: I use Aplus.net, but there are many other great web hosting companies. Ask friends and if you could recommend one, let us know.

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Peter Z. Nikic

Licensed Real Estate Broker
& Investor (NY)

Contact: Peter@Nikic.com
Tel:(914) 804-0037

Montenegro, the Next Monaco!

Peter Z. Nikic — Tue, 10 Jun 2008 20:08:07 -0500

Did you know...

The 51 mile long canyon of the river Tara is the second largest and deepest chasm in the world after the Grand Canyon.

Biogradska gora, national park, is one of only three remaining primeval and virgin forests in Europe.

Four national parks cover 7% of the Montenegrin territory.

Boka Kotorska bay is Europe's most southern fjord.

Kotor town is a UNESCO designated world heritage site.

All of which makes Montenegro an important tourist destination.

If the name Montenegro does not ring a bell, that is because over the past 60 years Montenegro has been a part of various incarnations of former communist Yugoslavia. On June 3, 2006 Montenegro declared independence and became the 192nd member state of the United Nations.

Known to the locals as Crna Gora (Black Mountain), Montenegro is rich in diverse history with strong influences of the Austro-Hungarian, Ottoman and Italian empires.

The Balkan wars of the 1990's while not fought on Montenegrin soil, had a devastating effect on the economy and the country's infrastructure. Montenegro's main source of income -tourism- disappeared, and left the economy in tatters. Now, Montenegro is re-emerging from the darkness of the past 15 years, and is on the verge of a property boom.

Its spectacular coast line and unspoiled natural beauty offers variety for even the most traveled vacationers. Montenegro is a relaxed and easygoing country with a multitude of natural wonders. Montenegrins are proud and welcoming people who cherish longstanding independence and local traditions. It is the last hidden gem of Europe!

Tourism

Montenegro's Travel & Tourism is expected to grow 15.2% in 2007 and by 10.7% per annum, in real terms, between 2008 and 2017.

The Montenegro Travel & Tourism economy is ranked number 1 in Long-term (10-year) Growth out of 176 countries as estimated by the World Travel & Tourism Council and Oxford Economic Forecasting.

"At the birth of our planet, the most beautiful encounter between land and sea must have happened at the coast of Montenegro. When the pearls of nature were sown, handfuls of them were cast on this soil." -- Lord Byron

Interested in investing in Montenegro? Email me.

Sincerely,
Peter Z. Nikic
Licensed Real Estate Broker & Investor (NY & Montenegro)
Email: peter@nikic.com

Pleasantville, it's Real and in Color!

Peter Z. Nikic — Sun, 20 Jul 2008 12:20:43 -0500

Often I get asked "Pleasantville? Like the movie?" I reply "yes, only in color". With a population of just over 7,000 and an area of less than 2 square miles, Pleasantville is small yet highly desirable. Located in central Westchester, just 45 minutes from mid-town Manhattan. It's small size does not even warrant school bussing, making it a walking community. All children either walk or are dropped off at school. The Pleasantville schools always rank among the best schools in the country, but one of the things that impressed me most is that every morning (rain, shine, snow or sleet) the school superintendent was there to greet each and every child as they were dropped off. Though we only lived 2 blocks from the school, many times we would drive our children to school. Deep down inside, I think we did it because it felt so special dropping our children off and seeing the school superintendent welcoming them with a big smile and a warm greeting.

Each year (in May) this small and close-knit community celebrates Pleasantville Day. The day starts off with practically all village residents parading down Bedford Road, a street lined with old Victorian homes. We were fortunate enough to own and live in one of these old homes and always felt that our front porch was like holding front row seats to this and several other spectacular parades during the year (other parades included the Memorial Day parade, fireman's parade and ragamuffin parade). The parade would be greeted at Memorial Plaza (village center) with games, rides, music, clubs and local vendors. The day usually ends with a spectacular fireworks show or outdoor movie at the sports fields on Marble Ave.

These fields are also home to the annual Pleasantville Music Festival where performers like Joan Osborne, Graham Parker and other less known bands play. Attendance exceeds 6,000 making it like an overgrown family picnic to music.

On not so special occasions, local residents tend to frequent the local gourmet coffee shops, restaurants and even a 50's styled soda shop. In the evenings, one of my favorite things is movie going at the Jacob Burns Film Center - a fine arts film center where it's not uncommon to see or meet famous celebrities like George Clooney, Selma Hayek, Ron Howard, Glen Close and Woody Allen just to name a few. The film center has been so successful, that they are building a 26,000 square foot film production and educational center.

Many people say, "but the houses are so expensive and the taxes so high". I tell them, "if you want to buy a house, you're right. But if you want to buy a home, a community, a great place for your family, you can't afford not to live here". So whether it's the parades, the schools, commute to the city, local shops, music festival, theater or old Victorian homes, I'm sure you will love Pleasantville.

Pleasantville, it's real and in color!

Pleasantville Links:

pleasantville-ny.gov

burnsfilmcenter.org

wikipedia.org/wiki/Pleasantville,_New_York

americantowns.com/ny/pleasantville

pleasantvillemusicfestival.com

"Only God should be privileged to live alone"

Peter Z. Nikic — Sat, 12 Jul 2008 11:56:13 -0500

My mother is moving in with me, along with my wife and 3 children. Yes, there will be difficult times, but over-all I think it's the best thing. My children will be closer to their grandmother. My wife is very open and understanding with my mom, and as a result I think both will benefit. Me, well, it's my mom, the woman who gave me birth and raised me when I needed her most. How could I turn my back on her now?

This morning, feeling like she may be a burden to us, my mom said "I wish I had enough money to buy an apartment." For me, the money is not as much of a factor as not wanting my mom to live alone. I recently saw a great movie called the "Edge of Heaven" where one character says, "Only God should be privileged to live alone." I have plenty of apartments where my mom could live either rent-free or low rent. And even if I couldn't do it alone, then my 2 brothers would happily help.

It got me thinking about a tenant that I had in the past. I bought a building, and one of the tenants was a very old woman, living alone (I'll call her Eva). I remember her as being a very sweet old lady I would stop by and chat with her every now and then. She spoke so proudly of her late husband and how they emigrated from Poland. She spoke highly of her daughter "The doctor" and her son-in law "The Doctor." Oh! And of course the grandchildren! There were 2 of them, a boy and girl, both attending prestigious Ivy League Universities.

About 7 years later, in 2005, Eva passed away. Her daughter, son-in-law and grandchildren all gathered to collect her belongings. I had only met her daughter in the past, and as I watched them come and go for several days, I felt like I knew them through the stories I was told. I quickly realized that the bond was one sided, as they walked by me with barely a glance. To them, I was a stranger. On the verge of tears, I contemplated talking with the grandchildren (who were now post college) and telling them how proud their grandmother was of them. Only I couldn't because it seemed that they lost (or never had) a connection with their grandmother, so I didn't bother.

For years, I felt really sorry for Eva, but on that day I really felt sad for her grandchildren. They lost so many precious times with their grandmother that they will never be able to recover. How could I not take
my mother in? I owe it to my children and their grandmother. I admire the person responsible for creating the mother-daughter house, only I wish it were called grandmother-granddaughter instead.

Peter Z. Nikic — Fri, 04 Apr 2008 14:55:47 -0500

Are you or is someone you know Albanian-American?

Since AR seems to be such a great networking site and there are so many Albanians in the real estate business, why not create an Albanian-American Realtor© Group? You don't have to be Albanian to join the group, you just have to know someone who is Albanian.

http://activerain.com/groups/albanian

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Montenegro, the Next Monaco!

Pleasantville, it's Real and in Color!

"Only God should be privileged to live alone"

New Group Added: Albanian-American Realtor©