Browsing Category: "Financial Press Release"

Home Buyers, Sellers Now Access Actual Sales Prices on Southern California Homes Within 24 Hours of Sale

Tuesday, October 14th, 2008 | Financial Press Release

Helps consumers track local markets, find REALTORS®.

Los Angeles, Calif. (PRWEB) October 6, 2008 -- Beginning this month, the Southern California MLS (SoCalMLS), one of the nation's largest Multiple Listing Services (MLS), becomes the newest major MLS to begin displaying detailed information about recently sold properties on REALTOR.com®. As a result, consumers can now access actual sales prices within 24 hours of a sale's closing, review property details and photos, and find the transaction's listing and buyer's agents for thousands of Southern California properties on REALTOR.com®, the #1 homes-for-sale Web site.

Until now, sold data has typically only been available through County public records and not available for 90-days after transactions are completed. This delayed access to accurate data is one reason home valuations on many real estate portals are inaccurate, out of date and unreliable. County records also don't always include significant property amenities which often have an impact on sale prices. Information from the SoCalMLS on "sold properties" will be displayed within REALTOR.com®'s "Find Home Values" feature, a new resource currently under development by the category leader.

"If you're basing a real estate decision on old or out-of-date information, you risk making a poor decision with potentially significant financial consequences," said REALTOR.com® President Errol Samuelson. "Providing current and detailed information on sold properties drawn directly from the local MLS, in conjunction with our 15-minute fresh update program, educates home buyers and sellers so they can have more productive and informed conversations with their real estate agents or brokers. We're pleased to welcome the SoCalMLS as our newest partner to display their sold property information as we further develop and expand our 'Find Home Values' feature."

The SoCalMLS is the fourth major MLS to feed their unique sold data to REALTOR.com® through Find Home Values. Other MLSs currently feeding sold data for display within Find Home Values includes the First MLS in Atlanta, the Greater Las Vegas Association of REALTORS®, the Northern Ohio Regional MLS, the Tucson Association of REALTORS® and the Northeast Florida MLS in Jacksonville.

To access fresh sold data from the SoCalMLS through REALTOR.com®'s Find Home Values, visit REALTOR.com® or directly at www.realtor.com/homevalues.

Contact: Julie Reynolds / Move / 805.557.3080 julie.reynolds @ move.com

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Edmonds, Canning & Associates L.L.C. Hires Joseph Paternostro to Work with Investors in Asheville, NC Area

Tuesday, October 14th, 2008 | Financial Press Release

The financial markets are in turmoil.

Atlanta, GA (PRWEB) October 6, 2008 -- The financial markets are in turmoil. Many people are panicking, they are unhappy, and their financial advisors are not calling them. As a result, many investors are leaving their current advisors. This is not the trend at Edmonds, Canning & Associates L.L.C. which has positioned itself as an alternative to the large brokerage house mentality. Edmonds, Canning & Associates, L.L.C. through J.P. Turner & Company, L.L.C. has no proprietary products.

Recently Edmonds, Canning & Associates L.L.C. added Joseph Paternostro to their team. Mr. Paternostro will personally service Asheville, N.C. and the surrounding areas.

"What makes us different? We specialize in chaotic markets. Right now there are advisors out there who do not have the sophisticated strategies or access to the diversity of product needed for this type of market," says Mr. Paternostro. "Not only do we work with clients to diversify them within the financial markets, we specialize in further diversification outside financial markets."

Joseph Paternostro is a Financial Advisor with Edmonds Canning & Associates, L.L.C. 4608 Cedar Avenue, Suite 115, Wilmington, NC 28403. Mr. Paternostro focuses on the Eastern Tennessee and Western North Carolina areas. For a free portfolio analysis, insurance review, or to discuss other financial issues call Joseph Paternostro at 888.949.6684. Securities offered through J.P. Turner & Company, L.L.C. Member SIPC.
J.P. Turner & Company, LLC, is a full-service investment banking, securities brokerage and advisory services firm headquartered in Atlanta with some 150 branch offices nationwide. J.P. Turner has been voted one of the top independent broker/dealers by Investment News each year since 2003. For additional information on J.P. Turner & Company visit www.jpturner.com.

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New Book ‘The Pirates of Manhattan’ Unveils Banks’ Investment Secret: Cash Value Life Insurance

Tuesday, October 14th, 2008 | Financial Press Release

Author Barry J. Dyke, in the new book "The Pirates of Manhattan", unveils a major banking secret.

Portsmouth, NH (PRWEB) October 7, 2008 -- Author Barry J. Dyke, in the new book "The Pirates of Manhattan", unveils a major banking secret. Banks, when it comes to investing their own money--don't put their cash into volatile mutual funds, stocks, hedge funds, term life insurance or risky real estate deals--but instead place a large portion of their vital reserves, known as Tier One Capital, into high cash value life insurance.

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Banks invest billions into high cash value life insurance. Surprisingly, many banks have more invested in life insurance policies than they do in bank premises, fixed assets and all other real estate assets combined. Recent bank consolidations of Bank of America (acquired Merrill Lynch) and J.P. Morgan Chase (acquired Washington Mutual WAMU) has made life insurance a more important asset for banks. In light of this consolidation, Mr. Dyke compiled an updated list of bank holdings in life insurance versus bank hard assets (premises, fixed assets and other real estate). Values quoted reflect the cash surrender value (CVS)-balance sheet equity of the life insurance to the bank. The life insurance benefit to the bank is roughly five times the cash surrender value (CSV).

Banks buy cash-value life insurance to improve their income statement and strengthen their balance sheet. With life insurance, banks enjoy tax-deferral (unlike taxable assets) and receive large income tax-free life insurance benefits at death of a bank employee. As investment stewards, life insurance companies are safer and more dependable than banks because they are not highly leveraged. And, as risk managers and fiduciaries, life companies have exemplary track records in preserving principal and managing money conservatively over long periods. Finally banks use life insurance as an economic power tool to design and fund executive pensions as well as other employee benefits such as life, health, disability and severance pay.

On "The Pirates of Manhattan" website, a video documents a major contradiction about life insurance purchases within the universal banking giant Citigroup. A major Citigroup subsidiary, Primerica, preaches that all consumers should buy term life insurance and invest the difference in mutual funds 100% of the time. However, Citigroup owns more that $4 billion in high cash value life insurance, the very product the Primerica subsidiary disdains. (YouTube: "Arthur Williams and Primerica: An Inconvenient Truth," www.thepiratesofmanhattan.com/youtubebroadcast.htm).

Ironically, Federal Reserve Chairman Ben Bernanke, the banking industry's greatest advocate and ally, has a majority of his personal savings not with a bank or mutual fund securities, but with a life insurance company in fixed and variable annuities. (YouTube: "Where Does Helicopter Ben Put His Money?"
www.thepiratesofmanhattan.com/youtubebroadcast.htm).

Over twenty-five years, author Barry J. Dyke has acquired extensive expertise to write "The Pirates of Manhattan." He has practiced financial planning, owned a pension consulting firm, founded a third-party administration firm, a health & welfare consultancy and a registered investment advisor www.castleassetmgmt.com.

The book has taken a novel approach by selling directly wealth advisors and consumers. It has sold in all 50 states, England, Europe, Australia, Singapore and Canada. To order go to www.thepiratesofmanhattan.com. For additional information, including press review copies, you may contact the author at barry @ thepiratesofmanhattan.com, telephone 800-335-5013. Castle Asset Management, LLC, 2 King's Highway, P.O.B. 95, Hampton, NH 03843-0095.

To view the table of banks' ownership of life insurance, see the attached document.

BARRY JAMES DYKE is the president of Castle Asset Management, LLC, Hampton, New Hampshire. He entered the financial service business in 1982 and has worked with individuals, privately held businesses, venture capital firms, publicly traded companies and national celebrities.

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