Mortgage Backed Securities

In an email receieved at our offices we got a clear explanation of the crisis with mortgage backed securities from Forrest Gump!

Forrest Explains Mortgage Backed Securities

Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.

Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank's buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted.

Mama always said: 'Sniff the chocolates first, Forrest.'

Greenacres in Palm Beach County, FL

Wednesday June 18, 2008, Income Properties South, Inc. and the Metropolitan Office Building hosted the Greenacres Business Council brunch. The members discussed business as usual on Wednesday morning but the main topic was promoting Greenacres. We all met and shared ideas on the best way to increase exposure for Greenacres. We welcome ideas and comments so feel free to share your thoughts with us. If you would like to become a member contact us for more information.

Ready to Sell

You are correct. Many of our listings are priced to sell. We have motivated sellers and our team here at Income Properties South is a good one. We work hard and get the job done. That is what sets us apart from our competitors. We pride ourselves on the service we provide and the testimonials at our website http://www.incomepropertiessouth.com/ will verify that. There are a few other listings that have been reduced. The professional office bldg we have listed has been reduced to $8.218M. We have 8 Units in Wilton Manors that is 100% occupied and has been reduced by $25K. So again our sellers are willing to work with anyone. Anything is negotiable.

Properties are Priced to Sell

Income Properties South, Inc. has several price reductions in there listings. The prices are dropping and now is the time to buy. The Sapodilla property is now listed at $95K and we all know it's worth way more. The 4.66 acres in Selma, North Carolina is now $932K down a quite a bit from the $1.258M it was originally listed for. One of the other reductions is on the Spectrum Square. Originally listed for $5.995M that price is now down to $5.529M. There are some really motivated sellers. So these properties should go quick, especially since they are priced so well. Look forward to hearing about some closings soon.

John I Leonard Awards Night

On Saturday March 8th, John I Leonard High School held there 2nd Annual Academy Awards Night. John I Leonard holds this night to honor the students that are a part of the schools Computer Technology and Finance Academy. This The guest speaker was Liz Quirantes from CBS News Channel 12. We presented two scholarships for The Best All Around Academy Student and for Model Academy Student. Dael, Juna and Lea were all onstage when the time came to hand out the awards and things ran smoothly. Juna announced the winners while Dael, and Lea handed out the awards and scholarships.

This winner of the first award was James Sprenger. He is a student in the Computer Tech Academy. He has an outstanding GPA and HPA and is very deserving of this scholarship. The second scholarship winner was Dale Angles. She is also a deserving student. She has an outstanding GPA and HPA. She is a member of the National Honor Society and is Valedictorian of the senior class. Each of these students have gone above and beyond and are on their way to future success.

We were happy to be a part of their lives and plan on following up with them in the future to see what they are up to.

The latest edition of the Palms West Newsletter

I saw that IPSI made the Palms West Chamber newsletter. Weren't we on the front page? It's wonderful to see all the progress that IPSI is making. The picture in the paper from our grand re-opening back in January was great. The owners look great. Our team is really getting the name out there. Here's to future success!

Miami Commercial Forecast

Great article in the Miami Daily Business Review today about
the great Commercial Real Estate market. It is nice to hear positive
remarks instead of the doom and gloom. Here's a portion of the article:

"Commercial properties
are income producing assets.....they ...continue
to produce...."