Friday, February 27, 2009

Young Homebuyers Can Learn from the 55+ Market


Photo by Carlito_Brigante on Flickr.

According to a NAHB article, the 55+ market is holding up slightly better than the market in general. That's no surprise to me, for the reason is very clear, and all you first-time homebuyers and young homeowners can learn from the consumers in the 55+ market. Although it's hard for these consumers to sell their current homes, they are in a good position to buy homes because they have spent years accumulating wealth, built up their equity, established good credit and have seen long term appreciation in their current homes. These people tend to sell their current homes and move to 55+ active adult communities, like The Club at Clove Lakes Park on Staten Island that is low maintenance and has all the necessities they need within the community. Listen, it's tough for me too, but I know there is a light at the end of the tunnel. The fact that the 55+ community has been through a similar recession in the mid 1970's and they are sitting better than everyone else right now, that should bring you comfort that in the long run you will be OKAY as well. HAPPY FRIDAY everyone!!

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Thursday, February 26, 2009

Site Feature: Unleash Your Inner Interior Designer With Mydeco



For anyone looking to unleash their inner interior designer, check out this really cool site called Mydeco that can spark just about anyone's creativity to design an attractive modern home. Whether it's pimpin' out your own bachelor pad or creating a nice ambiance for you and your loved ones to enjoy, don't worry, Mydeco has you covered. You can spend hours surfing this site mixing and matching the most eclectic colors, picking out edgy and stylish furniture, cool nic nacs, fun little gadgets, home and garden products and a vast amount of stuff you just have to delve into yourself in order to really get the full experience. For the hipster and artistic peeps you can take it old school with a retro feel and satisfy your craving for some creative thought provoking ideas. Before you know it you will have a fully customized home decorating blueprint that you can view before making it a reality. Get crazy and go viral with your creations by sharing it with the public in the Moodboards section.





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Wednesday, February 25, 2009

Blast From The Past: A Madonna, Staten Island Connection

Madonna, an influential pop singer/celebrity icon/actress who is known for her laundry list of antics and accomplishments, whether she's shattering many sexual taboos and genre barriers, her crazy dating history, or releasing her first single in 1982 when I was first born and is still going strong today; Madonna has also made a connection to Staten Island. Part of Madonna's video "Papa Don't Preach" was filmed on the Staten Island Ferry and in the Stapleton area alongside Danny Aiello as her father. Did you guys know about this?

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Tuesday, February 24, 2009

A New Born Baby Sparks a Homebuying Conversation


Photo by tsnsak on Flickr.

I was attending my good friend's new born baby's bris, and even at an occasion like that discussions about the current economy come up in conversation somehow. Don't get me wrong, I don't mind talking about what's going on in the world today and hearing other peoples perspective on it, but at that moment I was more engaged by some of the cute girls that were there and obviously the delicious food that was talking to me...it was saying "Get In My Belly". Anyways, I do remember however, a friend of mine saying to me in his thick hilarious Russian accent, "Bro, my friend just bought a house and locked into a 4.75% 15 year fixed rate mortgage and he was so happy that his monthly mortgage payments were so cheap." Reiterating what I've been blogging about recently, my little Russian friend was also saying how his friend was waiting for the right time to buy a home and when mortgage rates plunged he did not hesitate to jump on the opportunity to buy a home and how he thought it was such a great investment. The reality is, that housing affordability is at an all-time high and mortgage rates are still extremely low; therefore if you are looking at this as a long term investment there is no reason you should wait to purchase a home. These are just some words of comfort for anyone who is on the fence about buying a home.


Source: National Association of Realtors, via Haver

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Monday, February 23, 2009

Comic Relief on the Bailout

Mix comedienne Wanda Sykes and talk show host Jay Leno, then sprinkle in the bailout and you will get the funny segment below.

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Friday, February 20, 2009

Reduce Uncertainty by Controling Your Emotions


Photo by Alex MacLean

SO here we go again...I've touched on this in the past, but this time I'm going to dedicate an entire post to talk about how fear and uncertainty are big components in deterring consumers to making a sound home buying decision, and by overcoming those uncertainties, consumers have the control to put the economy on the fast track to recovery. Lately, homebuyer's emotions have been just as volatile as the market and their lack of control over those emotions have paralyzed them in making a decisive home buying decision. The great thing about this problem; sounds like an oxymoron but go with it, is that this is something the consumer has complete control over if they are willing to take a step back and look at the big picture. Nobody said it's easy to step into this current market, especially if you were a consumer that lost a good part of your wealth and your gut is telling you to retrench, but there are developers out there offering programs to create more security for homebuyer's so they can make a less worrisome decision. For example, Job loss is one of the major concerns for consumers and a program offered by The Estates at Opal Ridge on Staten Island called "Security in Uncertain Times", protects your home by paying your mortgage in the incidence you lose your job. This article from the Economist is what inspired me to write this post. Olivier Blanchard has some great insight on this topic and provides a very interesting perspective.

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Thursday, February 19, 2009

Holy Schnitzel, Kosher Cuisine for Staten Island’s Most Faithful


Holy Schnitzel Logo ©

For all the different religions, ethnicities and cultures that call Staten Island home there are plenty of places to eat at that would satiate the most discerning ethnic palate. There are Japanese and Chinese restaurants in every area on almost every block, Italian restaurants and pizzerias are as commonplace as Hummers and Escalades, and even Indian and Thai restaurants are starting pop up all over the place. However, there is one ethnic population whose options are limited not by food, but rather by diet. There is a fairly large population of Jewish people who keep kosher on Staten Island and there are literally only a handful of restaurants and stores for them to patronize.

Holy Schnitzel, located on Nome Ave. in the Nome Plaza shopping center seeks to cater to the kosher appetite, while offering options that would quench the hunger of most anyone’s taste. Holy Schnitzel has been open only a few months now and has already established itself as one of the best places to go on the island for Glatt Kosher cuisine. As the name indicates, they offer a variety of different schnitzels, with various seasonings and sauces, each with its own name to indicate the type of sauces and accoutrements it has. The Kung Fu Schnitzel has sesame seeds and panko breading, the Frenchi Schnitzel has Dijon mustard and the Franky Schnitzel has crushed garlic and Italian seasoned breading. There are a few different burgers and a nice assortment of wraps and paninies as well. You could choose from BBQ Chicken, Chicken or Salmon Teriyaki, Chicken or Salmon Caesar, Chicken Avocado or a Pepper Steak wrap. My personal favorite was the Chicken Teriyaki wrap with sautéed onions and a side of their sweet potato fries. The fries by the way could be the best sweet potato fries that I’ve ever had.

In addition to the schnitzels and burgers, they have a pretty extensive salad menu, with a Create Your Own salad option that includes the usual smorgasbord of salad ingredients. While Holy Schnitzel is a Glatt Kosher establishment, the food is pure deliciousness. Any way you slice it, Holy Schnitzel saw a niche market opportunity and took advantage of it. Aside from obviously attracting those who keep kosher, Holy Schnitzel is sure to attract throngs of people who just want a damn good sandwich.

Holy Schnitzel on Chowhound

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Wednesday, February 18, 2009

Paul Bishop's Truth behind the World Savings Bank Fiasco

We all know that the reason we are in this economic recession is primarily due to the abundance of bad loans that were issued by banks. Below is a 60 Minutes story of a mortgage salesman named Paul Bishop who discusses the demise of World Savings and the reason why Wachovia inherited billions of dollars in debt when they acquired this bank. This is a very interesting video and now I know why Wachovia was another victim of the sub prime mortgage market.

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Tuesday, February 17, 2009

260 Christopher Lane: Office Space for Rent



The above building at 260 Christopher Lane on Staten Island is my sanctuary and the place of where I gave birth to my blog. The great thing about blogging is that as long as I have a computer and internet access I can work from anywhere, but when I choose to act like a normal person that goes to work in an office every morning, you'll find me here at this location. The main reason I'm babbling about this; I guess you can call it "my place of business", is because this building has two 3,275 sq. ft. office spaces for lease for only $2,500 a month. Location is key for a business and this building is situated near two major streets (Victory Blvd & Richmond Avenue), a main shopping center, a variety of restaurants and places to eat, The Staten Island Mall, the Goethals and Bayonne Bridge, and a bunch of other places you can find on the building's website. I'm a floater, so I can't stay in one place for too long, but when I do decide to come in to the office I enjoy being here because the location is convenient, it has plenty of parking and it bares all the necessities. It is suitable for any type of business and you can be up and running in no time. It's a hot spot!

260 Christopher Lane [Website] Google Map

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Monday, February 16, 2009

Graniteville Neighborhood Feature: PS 22 Tops the Youtube Charts


Photo by Gianni Cipriano [NY Times]

I want to hand it to Mr. Breinberg and the chorus group at PS 22 for cultivating something so special that they have been garnering a lot of attention from big media sources, famous music celebrities and business people in the music industry. It all started with the passion for music, a persons desire to teach music to others, a group of talented kids, some Coldplay and Tori Amos songs and a YouTube channel that brought a spotlight to the Staten Island community. What more do you need, all the essentials for success are right there. As soon as celebrity gossip blogger Perez Hilton got a hold of their videos, he was instantly amazed and posted their YouTube version of the "Flying Dutchman" by Tori Amos on his blog. I'm not surprised that with Perez's enormous following these kids went from being stars in their small local community on Staten Island to being the talk of the town within the mainstream world. With the huge reach of the internet you see things like this happening now more than ever, but you never think it will happen to you and when it does it is so surreal.


Within such a short period of time the chorus group has built an incredible size resume that others spend several years trying to accomplish and most people never do. To date they have received millions of views on YouTube, are constantly being mentioned in the press, performed for Tori Amos, performed at political events, performed live at Irving Plaza, some members have been casted in TV shows, potential record deals and they are now doing renditions of other modern artists. Whatever the reason is for their success, whether it's just pure luck, the right person stumbling upon it, amazing talent, a community story that the media flocks to...yada yada yada these kids are bringing the right type of attention to Staten Island and highlighting the Islands greatness. Big ups to everyone!

Staten Island School Chorus Finds Fame on YouTube [NY Times]
PS 22 Official Blog

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Friday, February 13, 2009

Real Estate Property Tax Protest



Sharpen your pencils and scan local ads for real estate lawyers. It’s time to start protesting your assessed real estate value. Every year, all properties in Staten Island are assessed by employees of the NYC Dept. of Finance. The new assessed values are sent out to homeowners by mid-January. These assessments are based on sales of similar homes in your vicinity, the assessor’s professional opinion and computer programs. However, the assessed value may not entirely reflect the current market value and may actually be lower than the current market value. Don’t get caught up with market value though, because the two things a homeowner needs to concern themselves with are the assessed value and the tax rate. Since there’s no changing the tax rate, your best bet to lower your real estate taxes is to protest your assessed value. But be careful, the deadline for 1-3 family homes and condominiums in 1 and 2 story buildings is March 16th, 2009.

- Written by Adam Steinhandler, based on content from Alan Lasher

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Thursday, February 12, 2009

Staten Island Broker Turns Baker

Adrienne Setbon, broker/owner from Own-A-Home Realty ventures off into uncharted waters when she tries to bake mandel bread. Although she had a little mishap in the kitchen, her baking is actually really good. Check it out, it's a cute little video!

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Wednesday, February 11, 2009

Don’t Miss the Housing Boat



While levels of unsold homes remain at record highs, there are some bright spots shining through. According to the National Association of Realtors (NAR), the drop in home values has finally hit a point that is starting to spur more sales. The Pending Home Sales Index, which is a forward looking indicator based on home contracts signed in December was actually up 6.3% over November and is up 2.1% over December 2007. These numbers are fueled by contracts signed in areas that have seen the largest increase in housing affordability.

The NAR’s Housing Affordability Index, which shows a relationship between home values, mortgage rates and family income, rose to an all time high in December, indicating that home affordability is peaking. For those sitting on the sidelines waiting for a sign to buy a home, here’s your sign. Since 1970, when the NAR starting started tracking housing affordability, there has been no other point in time when housing affordability has been this high.

Pending Home Sales Show Healthy Gain [KnowledgePlex]

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Your Not Cool Unless You Go Green


Photo by nbernhardt on Flickr.

This going green thing is getting a little crazy and it seems as if everyone these days has implemented some sort of "Going Green" campaign into marketing a home. Now that The National Green Building Standard for all residential construction work including single-family homes, apartments and condos, land development and remodeling and renovation has been approved by the American National Standards Institute (ANSI), I'm sure we will see more developers throughout the country building green friendly homes. The NGBS is the benchmark for green homes and homeowners can use these practices as a guideline on how to operate and maintain their green homes. Talking about all this green stuff reminds me of the hippie days, if you know what I mean!

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Tuesday, February 10, 2009

The Nicotra's Acquire the Teleport and Give Back To the Community



The Corporate Commons, formerly known as the Teleport on South Avenue has been acquired by The Nicotra Group, LLC for $25 million. As a kid I wondered if the Teleport buildings were used as some sort of front for secret government projects, because of all the security surrounding the property. Regardless of what I thought it was used for in the past, Richard and Lois Nicotra from The Nicotra Group are focused on using this approximately 300,000 sq. ft. vacant office space to bring even more employers to South Avenue. As unemployment increases, I am glad to see a developer working towards filling a void in the Staten Island community. With the success of The Corporate Park of Staten Island, which includes several office buildings, a conference center, Lorenzo's restaurant and two hotels (Hilton Garden Inn and Hampton Inn and Suites), I bet the Corporate Commons will not fall short of having the same success as their fellow developments. I'll be sure to follow this project closely, as I'm curious to see how long it will take to rent out this office space and the types of business that will occupy the space.

Kudos to the Nicotra's for their charitable spirit and donating 25% of the profits from the Corporate Commons to the newly formed Lois and Richard Nicotra Foundation. The Nicotra Foundation will support the children of their employees in their pursuit of a college education.

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Monday, February 9, 2009

Please Call and Preserve the $15,000 Tax Credit!


Photo by pogonophobia on Flickr.

I thought we were home free and clear when the Senate announced an amendment to the stimulus package for a $15,000 homebuyer tax credit last week. I just received news that there is a possibility that the credit could be scaled back before the Senate casts its final vote on Tuesday. It's extremely important we don't let this happen, so I am asking everyone to please take a second out of their day to call the number below and and tell them to preserve the entire $15,000 credit . With everyone's support we can make the $15,000 tax credit a reality! It's imperative you call before Tuesday!

PLEASE FOLLOW THE INSTRUCTIONS BELOW

* Beginning the morning of Monday, February 9, please call your Senators at 1-866-924-NAHB (6242)and tell them to preserve the entire $15,000 credit in the Senate version of the economic stimulus bill.

After listening to a brief message about the tax credit, you will be asked to enter your zip code so that you can be connected to your House and Senate legislators. The tax credit message should only go to your Senators. So, after the prompt, please press "2" to skip your Representative and be connected to your first Senator. After you speak to your first Senator, simply stay on the line to automatically be connected to your second Senator.

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Friday, February 6, 2009

Radiohead's "Pay What You Like" Crosses Over to the Real Estate Community


Photo by BandMetrics on Flickr.


Radiohead's pay-what-you-like experiment for their critically acclaimed album, 'In Rainbows', has crossed over to the real estate community as well. MIDEM, one of the world's biggest music conferences, has partnered with Everything Canne, a real estate company in Cannes, France to offer 40 apartments in the city at whatever price a MIDEM visitor wants to pay. Although not such an original idea anymore, it is certainly a good attempt to encourage visitors to attend the music conference. It is a risky strategy to employ because if the donations do not cover the costs of housing these visitors, Everything Canne will be taking a loss on the deal. On a positive note, regardless if they lose on the deal, the wonderful accommodations provided to the guests will hopefully leave a lasting impression and entice the them to return in the future. Obviously a smart real estate company will not leave anything up to chance, so they hedged their bet by trying to tap into the human psyche. Before the visitors leave they are supposed to have a conversation with their local Guest Support Representative, apparently on the theory that having to look another human in the eye makes it that much harder for someone to cheap out and offer some absurdly low rate.

Radiohead's "pay what you like" crosses over to real estate [Ars Technica]

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$15,000 Tax Credit Beefs Up the Big Obama Bail Out Even More


Photo by Breslow on Flickr.

Breaking news has made the media and it's my duty to share it with you....the Senate voted to include a $15,000 homebuyer tax credit to the stimulus package a.k.a. the big Obama bailout. This is a huge step up from the original $7,500 tax credit because it is available to all homebuyers and it does not need to be repaid back. I'm a guy of faith and if history repeats itself, I'm confident we will see a recovery sooner rather than later. In the mid 1970's we faced a similar housing crises and the tax credit passed by congress then resulted in stabilized home values, decreased housing inventories and a recovered market. A mixture of history and faith goes a long way!

Read the full release from Isakson's office here [US News & World Report]
Analysis by the National Association of Home Builders [CNBC.com]

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Thursday, February 5, 2009

Just Like Homebuyers, Skateboarders Find Opportunities in Forclosed Homes


Photo from Skate and Annoy

Not only are buyers looking for good deals benefiting from foreclosures, but so are skateboarders. In California foreclosed homes with large in ground pools have become skate park heaven for skateboarders from all over the world. What I thought was especially interesting when reading the NY Times article was that some skaters use realty tracking sites like realquest.com and realtor.com to find foreclosed houses with pools. Apparently real estate sites can benefit the suburban youth as well.

Staten Island has a similar suburban landscape and foreclosures are high, but as I mentioned in yesterday's post, foreclosures have declined in Q4 of 2008, making Staten Island a bright star on the map, highlighting the benefits of buying a home here....Sorry SI skaters, but I guess you’ll have to travel west if you want to wreak havoc and set up shop for your skating pleasure. But the real moral is that if skaters can use the internet to find foreclosures to skate in, it can’t be that hard for savvy homebuyers to do the same!

Skaters Jump In as Foreclosures Drain the Pool [NY Times]


Photo by Jim Wilson/The New York Times

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Good Food, Good Times, Goodfellas


Photo by thewanderingeater on Flickr.

Have you ever eaten something so good that every time you think about it, you start to salivate? Or every time you smell it, it brings a little tear to your eyes. Did you ever think that you would eat a pizza that’s so good, it makes you want to thank the heavens above for giving this Van Gogh of dough the tasticular fortitude to create such a masterpiece. I’m talking about Goodfellas Pizza on Hylan Blvd. and any one of their many specialty pies that they make in their brick ovens.

Voted the best pizza in the world at the International Pizza Contest in Las Vegas and for good reason, Goodfellas’ combines a thick and flavorful crust with their homemade sauces and fresh mozzarella for a taste that’s absolutely out of this world. For the Vodka sauce lover, the Vodka pie is an absolute necessity with their home made tomato cream vodka sauce, seasoned mushrooms, prosciutto and peas mixed with fresh mozzarella. Maybe you prefer a little smoked mozzarella with sausage and wood roasted peppers, mixed with Goodfellas’ roasted pepper cream sauce, then you might want to consider ordering a Smokin Goodfella. Even if you want to stay clear from the meats, Goodfellas’ has got your pizza right here. The Mushroom Madness, with porcini cream mushroom sauce topped with fresh seasoned mushrooms, is sure to drive your taste buds crazy. There are 12 specialty pizzas in all, each one with its own flavor and personality. And if you’re having a little trouble choosing just 1 or 2 pies for your table, might I suggest a smorgasbord of individual pies for your pizza loving palates. Of course, if you want to keep things simple, feel free to order a plain pie, or one with any of your favorite toppings, or you could even select a delicious Italian entrée from the dinner menu.

Goodfellas Yelp Review!

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Wednesday, February 4, 2009

Bring Order to Your Life By Organizing Your Home


Photo by Sam Scholes on Flickr.

During these trying times, having your life in order definitely brings more comfort and certainty to your life. Certainty in an uncertain market is definitely a good thing. When I need to get my life in order the first thing I do is clean and organize my home. Space planning and organizational skills is an art and there are professionals that are dedicated to the field of organizing. Time To Go Organizers, a Staten Island based professional organizing company has created a system to provide ideas, information, structure, and solutions to reduce stress, increase productivity, and lead to more control over time, space, and activities. Those of you that have the funds to hire a professional organizer may find it invigorating and can bring you peace of mind.

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Foreclosures on Staten Island Decline


Photo of painting @ Jimmy Max in Staten Island

As we all know foreclosures have been a big issue in the markets liquidity, but according to a Q4 2008 foreclosure report sent to me by Property Shark, foreclosures decreased in Staten Island in comparison to Q4 2007. When I was looking at the other boroughs in NYC, I saw that foreclosures in Queens went up 84%, which shows me that Staten Island is still a good place to invest.

People always ask the question "how do we know when the market will start to recover?" What people don't realize is that it's a gradual process and it won't happen over night, but there are certain indications you can look for to see if the market is starting to recover. For instance, compared to Q3 2008, the number of foreclosures decreased by 24% on Staten Island, which means we are "recovering" faster. These are golden nuggets of opportunities that I'm sure most of my fellow Staten Islanders have been waiting for. As the cliche goes, "Buy when there is blood in the streets".

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Tuesday, February 3, 2009

Positive Signs of Market Recovery


Photo by woodleywonderworks on Flickr.

I know some of you must be jaded by the market, but don't miss the boat because it was reported that sales in December rose by 6.5% according to a KnowledgePlex article. It's common sense that when prices plunge, the people in the market that have been dormant for the past few years are seizing the opportunities, which is what I see happening here. Typically inventories of unsold homes decline about 8% to 10% in December, but in December of 2008 inventories dropped 11.7% to 3.68 million. This shows me that we are starting to recover and that opportunities are out there. The signs are there, but you can't be indecisive when making a decision because veterans in the the industry will hone in on good opportunities and act on it right away, leaving you in the dust.

Existing-Home Sales Rise 6.5% as Prices Plunge
[KnowledgePlex]

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A Family Blessed by a Blog Miracle


Photo by~wibo~ on Flickr.

It's never too late to talk about Christmas spirit and the miracles that arise from this most joyous holiday. It's tough when a family faces foreclosure, but to receive a foreclosure notice during the holiday season is even more heart wrenching. I read this unique story about a family that almost lost their entire livelihood and home, but they were able to overcome surmountable odds with the help of a friend's blog and the donations from kind hearted people from around the country. Daniel and Ebony Sampson, and their three children were the victims of foreclosure, having to come up with $10,000 within two weeks in order to save their home. Jack Grier, a friend of the family published Ebony and Daniel's story, along with a link where people could make a donation. Astonishingly, within just five days of the blog post the family raised over $10,000 and were fortunate enough to spend Christmas in their wonderful home. What miracles have you seen this year? In light of the current market, I would love to hear some more stories of triumph, so don't hesitate to share them with me and I will in return share them with my loyal SIREN community.

Blog 'miracle' saves Christmas for hard-luck family [CNN]
Blog 'miracle' saves Christmas for hard-luck family [CNN Video]


Photo by CNN

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Monday, February 2, 2009

Staten Island Gay Life Expo


Photo by siprideevents

I'm finally coming around to transcribing my post on the first ever Gay Life Expo on Staten Island that took place at the Hilton Garden Inn on January 25th. I was pleasantly surprised by the turnout of the event and it was stated that they had to turn away vendors who wanted to participate in the event because they were unable to accommodate everyone. There were a wide variety of businesses that showcased their products and services ranging from real estate companies such as The Club at Clove Lakes Park and Safari Realty to Camp Bow Wow, Next Magazine, The Walt Disney Company and Passages to name a few. Unfortunately my brother stole my camera for his trip to Utah that had all my pictures from that evening, so I will have to re-post those at a later date.

Staten Island Pride Events [Myspace]


Photo by siprideevents

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