BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG

CONDO CAROL -- THE SOLUTION TO FAILING RESIDENTIAL DEVELOPMENTS

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 11 Nov 2009 22:52:25 -0600

<<======Carol M. Smith, Praxis Real Estate Advisers, Atlanta.

This is my friend of at least thirty years, Carol M. Smith. She is a remarkable residential real estate marketeer, having worked for and understudied the great Charlie Williams (RIP), President of Dallas' Sales Street Group.

Williams and his marketing brainy staff specialized in turning around failed subdivisions for main-stream developers like Fox and Jacobs, for an example.

I was vice president of residential development for a Houston company, Columbia Communities, when I first met Charlie and Carol. And we met because Columbia desperately needed their services.

You see, we had begun a financially huge waterfront development in an area of the country we simply didn't understand. It looked to us like the market hated us.

So we were stuck with a big inventory that wasn't selling. We're talking about millions of dollars worth. What to do, and do fast! We got wind of Sales Street Group and its remarkable Charlie Williams and Carol Smith. We rolled the dice and retained them.

Within a few months. Sales Street Group's manager of our account, Carol Smith, had taught us how to turn our development from failure to success. And from that, we learned to keep Sales Street Group on retainer, so that our future developments could be assured of starting out successful.

Today, Carol lives and works out of Atlanta. Her firm is called Praxis Real Estate Advisers. And she has bailed so many condominium projects out of trouble throughout New York, Atlanta and Florida that her clients have given her the name -- CONDO CAROL, and it has stuck.

In fact her email address is Carol@Condocarol.com.

I'm passing this important source on to you. You're likely to be involved in or know of a residential real estate project that, if it hasn't already, stands a chance of crashing and burning. You'd do your clients a favor by retaining Condo Carol (Praxis Real Estate Advisers) to get it back on course. I might even come along to help.

By the way, Carol is a licensed broker in New York, Georgia and Florida.

Did Carol ask me to write this? Of course not, and I don't plan to tell her that I did.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Since 1964

214 503-8563

WEB

Bank of America -- Another Scam Artist at Work

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 11 Nov 2009 20:33:39 -0600

I get this email "letter" every couple of weeks.

Dear customer

We regret to inform you that your Bank of America Online Account
has been temporarily suspended.
Your account has been suspended after too many failed login
attempts have been made. This is most likely an attempt to gain
unauthorized access to your account and/or personal information.

To resolve this problem we have attached a form to this email.
Please download the form, open it and follow the instructions on
your screen.

Bank of America, Member FDIC
©2009 Bank of America Corporation. All Rights Reserved.

I have never had an account with Bank of America, so obviously it's part of a scam.

What I don't understand is why this kind of stuff can't be stopped, and the people who do it chraged and prosecuted?

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Since 1964

214 503-8563

web

NEW TAX CREDIT RULES: $8,000 AND $6,500

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Mon, 09 Nov 2009 06:33:10 -0600

There's good news for two catagories of home buyers:

The $8,000 first-time homebuyer tax credit has been extended.
There's now a $6,500 tax credit for anyone who buys a home and who has lived in their crrent home for any five consecutive years of the past eight years.

The old version of the tax credit was set to expire at the end of November, and the old version did nothing to stimulate home owners who wanted to sell their current home and move-up to a more expensive one.

The new rule will also give additional incentive to those who wish to move to other parts of the country, perhaps for another job or for retirement. And then there are those who really want to downsize now that their children are no longer living at home.

At Bill Cherry, Realtors, we are happy to assist you in finding a home, whether you qualify for one of these new tax breaks or not. But with these incentives, it is an especially good time, in our opinion, to buy your first home, or to sell your existing home and move to another.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

WEB

The New Pastor -- Congregation Said Yes, FHA Said No

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sat, 07 Nov 2009 15:14:25 -0600

My friend has been in the mortgage banking business for many years. In fact, he's been president of this-and-that mortgage banking association.

Here's his latest story:

A young pastor accepted the call of one of the enduring longtime medium churches here in Dallas. And it's associated with one of the major denominations.

Of course his wife and children came with him.

Now after 21 months of searching the real estate market, they found the home that would suit their family just fine -- near the church, near the wife's employment, and a stone's throw from the church-affiliated school they picked for the children to attend.

So the plan was to apply for and get an 80% FHA home loan. You know the ones that have rates of less than 5.50% for thirty years; the ones that if you haven't owned a home in three years, the government will give you an $8,000 tax credit.

Well all was going fine until the underwriter was checking out the couple's employment. The pastor had come to Dallas several months before his wife and children were able to move.

So even with a down payment of 20%, $20,000 more in cash left over in their savings account, the loan was denied. You see, they wouldn't count the wife's income because she had only been employed in Dallas for twenty-one months. They wanted her to show a full two years.

Explain to me how making a home loan to this couple was anything more than a minimal risk.

Can't do it...

But this and countless other examples of government over-kill is why this economy is in shambles and why lenders are taking back homes by the thousands.

Does the National Association of Realtors have lobbyist? Do they ever lobby anything? Or is their job to collect dues and dream up and print little brochures that they can sell the membership to give to potential buyers and sellers?

BILL CHERRY, REALTORS

Since 1964

DALLAS - HIGHLAND PARK

214 503-8563

WEB

IT'S ONE TIME AN OLD REALTOR IS A BEAUTIFUL REALTOR ......

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 06 Nov 2009 10:22:30 -0600

REALTOR BILL CHERRY

LEARN WHY HOMES DON'T SELL
________________________________________

REMEMBER THOSE BIG ADS BRAGGING ABOUT THEIR SALES?

Many of those who ran the big braggadocios ads about their real estate sales expertise have evaporated into thin air.

THEY'RE GONE...OUT OF BUSINESS!

You see, in reality their real estate prowess was nothing more than their own aberration. Anybody could sell homes back then, for goodness sakes.

BUT EVEN THEN, THE MAJORITY NEVER SOLD MORE THAN 10 HOMES IN THEIR ENTIRE CAREERS!

Now it's time to go back to using Old Faithfuls when you need a Realtor.

I'VE SOLD THOUSANDS! BEEN AT IT FOR 45 YEARS! SO WHO DO YOU WANT TO REPRESENT YOU?

Hands down, the most HANDS ON Realtor serving Dallas. Our Comparative Market Analyses are both free and reliable. We usually sell our listings in just 45 days!

SO HERE'S HOW YOU CAN LEARN WHY HOMES DON'T SELL!

Call or email for our CD titled "A REALTOR'S SECRET WEAPONS!" It's free, there's no obligation, and I'm holding a copy for you. CALL 214 503-8563 OR EMAIL cherrysells@aol.com and merely leave your name and address with my assistant. No salesman will call you unless you specifically request it.

Since 1964.
BILL CHERRY, REALTORS
9936 Windlake Circle, Dallas 75238
214 503-8563
FAX 214 666-9985

http://www.billcherryrealtor.com
http://www.eons.com/blogs/entry/514834-BILL-CHERRY-BIOGRAPHY

Biography selected by the editors of Marquis Publishing Co. for inclusion in the prestigious - WHO'S WHO IN AMERICA, WHO'S WHO IN BUSINESS AND FINANCE, & WHO'S WHO IN THE WORLD and of course, WHO'S WHO IN U.S. REAL ESTATE.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

Local, competent and banker are.....

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 04 Nov 2009 13:40:18 -0600

"Local, competent and banker are three words that should not be used in the same sentence. Businesses, governments, and schools work best that are governed closest to home. Restoring local accountability to these entities upon which we depend would solve many of our national problems."

A note from my friend, James N. Mayfield.

AN INTERESTING FORMULA FOR MAKING A CHURCH STRONG AGAIN.

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Mon, 02 Nov 2009 08:13:37 -0600

If you'll recall, Christian churches and Jewish synagogues, have pushed as one of the primary factors of staying right with God, the biblical requirement called tithing.

In the main, tithing is founded in the concept that everything we have was the result of a gift from God; therefore, we should give back at lt least 10% of it to the furthering of His work on earth.

Ministers, priests and rabbis take time at least once a year to remind their congregants that they need to be regular contributors, and that, while the church or synagogue will gladly take whatever amount the member chooses to give, in reality they expect you to tithe,

But here's the missing ingredient. For whatever the reason, church officials, in the main, have never pushed the concept that members should first try to do business with each other before they employ the services of those outside of the church's membership.

Supporting those with the same beliefs as yours has enormous merit, starting with that it builds the value of your membership in the church.

Years ago, my church needed to raise a sizable amount fast. Its big pipe organ had been seriously damaged by a Galveston hurricane. So, I took on the task of being the head of the committee that would raise the money as well as find the organ designer and builder.

The hardest part was going to be raising the money. While it had been in the past, the church was no longer one that had many wealthy members.

So I came up with an idea: For every piece of real estate my company sells that involve a member of the church or member of his family, we will contribute 10% over and above my personal contributions, to the church's organ fund.

By example, we got the other business owners and the insurance salesmen, car salesmen, doctors, etc., to agree to follow suit.

We raised the money in record time, and we even had sufficient funds left over to add an exciting rank of pipes known as trumpets en chamade (which I may have misspelled here).

The excitement this campaign brought to the church was electrifying, and the attendence reached dramatic new records.

Nevertheless, as soon as the organ was built and installed, the parish saw no reason to encourage the continuance of special tithe campaigns. Attendence went back to about where it had been and the church facilities resumed their aging and tired look because of lack of money.

Many churches find membership dropping, facilities wearing out, church member fellowship waining. I submit that programs like the one we used to raise funds for our new church organ can go a long way toward reversing those trends.

And it's the perfect place for Realtors to make a difference and be in sync with the Lord.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

WEB

WATCH WHOM YOU IDENTIFY AS YOUR CLIENT

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 30 Oct 2009 23:39:55 -0500

Some Active Rain friends that you surely know, too, are good about sending referrals to me. And what makes it even more interesting is that they pick me, an independent, over someone within their franchise's referral network.

Of course I'm complimented. But I also know that their choice comes from their experience with others when contrasted to their experience with me.

They know I will always understand and respect that the client is not my client, but theirs. I'm merely a straw party who's taking their place since they are far away.
They know I am competent; that I've been in business for many years; and they know that my reputation as a Realtor is and always has been excellent.
They know I will keep them informed as to the progress, and ask them for their counsel when it will help me represent their client.
And finally, they know that the day the transaction closes, I will instruct the title company to send them their referral fee at the same time the title company disburses my check. None of this stuff of sending it to them when I get around to it,

What is often overlooked is simply understanding who's your client. The referral from you to me never becomes my client. He's your client from beginning to end. I'm filling in for you.

Here's another example: When I open escrow for my clients at a title company, oft times the escrow officer will begin calling the party their client. Nothing could be further from the truth. I'm the one that's the title company's client. Without me, it's reasonable to assume there might not have been a sale, much less that escrow would have been opened in that title company's office.

Last week, a well-known title office here in Dallas forgot who brought them to the dance. It was the second time they had done that. So I pulled my new files, and I won't be closing there anymore unless a client specifically requests it.

So what's my message? No matter where you and your services fit in a particular real estate transaction, it's important to know whose client you're serving, and to honor that relationship almost to a fault.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

On the Web

Why the Mortgage Loan Business Is in Shambles.

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sun, 25 Oct 2009 14:19:51 -0500

Here's a note I got yesterday from a friend of mine who was in the morgtgage business and decided it was time to retire.

"One of my best friends who is independently wealthy couldn't get a regular rate 2 years ago even though it was free for all because even though he could show more just in cash assets than the house he was buying was worth and he was putting down 20%, he didn't have credit scores due to not enough credit.

"He had one credit card which he paid off every month and had paid cash for his previous 2 homes, had a condo in Mexico that was free and clear, and he was within the ratios.

"No scores means no credit at current rates. He ended up having to get the loan on a niche program at 7.25 and that was with me cutting as much as I could! He wanted the loan to start getting credit in case he needed to get loans for his kids when they go to college. So much for that strategy!

"It the utmost example of the Peter Principal in practice! The Principal is alive and well and living in the mortgage business!"

SO THE QUESTION IS, WHERE IS THE NAR LOBBYIST? WHERE IS THE MORTGAGE BANKING LOBBYIST?

BILL CHERRY, REALTORS

SINCE 1964

DALLAS-HIGHLAND PARK

214 503-8563

WEB

A CLIENT TELLS HIS STORY OF TODAY'S LENDING PRACTICES

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 23 Oct 2009 14:06:12 -0500

I suppose it's because I've been in business for a long time, that I write for several regional publications, and am active in civic work and my church, I hear from lots of people.

Frankly, the current mortgage loan underwriting standards and how they are being dictated is a total nightmare, and it is causing many, many well-qualified people misery.

For an example, I just had a loan officer call and tell me that the underwriter wants a corporate resolution stating that my client doesn't own stock in a particular corporation. I screamed before I thought, "That isn't the purpose of corporate resolutions! Have I got to teach your company the rudiments of corporations and how they work?

"You need a notarized statement from a corporate officer where he certifies that he has access to the company records (stock registry) and that those records show no common or preferred stock registered in tha person's name. And what good does it do anyway? The person could have owned stock yesterday, sold it this morning, and can buy stock again tomorrow."

Here's an interesting note I just got from another friend:

"Our daughter and son-in-law begin new jobs in Minneapolis In January. They both completed their Ph.D. programs at USC, are veterans, and have great credit with virtually no debt. They just executed a super contract on a great place at a great price that is within their budget. Unfortunately, they are in the loan process, and I am amazed at what they are facing. Bankers (commercial, investment, and mortgage banks) and those who regulate and support them are my Public Enemy #1."

I agree. This industry has become Public Enemy #1.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Since 1964

214 503-8563

WEB

MESSAGE FROM THE JEWS TO G-D

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 23 Oct 2009 13:52:49 -0500

A rabbi's son sent me this. It's not only clever but a good review of parts of the Old Testament.

FROM: The Jews

SUBJ: Termination of Our Special Status as The Chosen People

===================================================
As you are aware, the contract made between you and Abraham is up for renewal, and this memorandum is to advise you that after, yea, those many millennia of consideration, we've decided not to renew.

We should point out immediately that there is nothing in writing and, contrary to popular beliefs, we have not really benefited too much from this arrangement.

If you go back to the early years of our arrangement, it definitely started off on the wrong footing. Not only was Israel and Judea invaded almost every year, but we went to enormous expense to erect, not one but two Temples and they were both destroyed. Of course, you know all this, but we feel it's a good thing to account for all the reasons we wish to terminate the contract.

After the Hittites, Assyrians, etc., not only were we beaten up almost daily, but then we were sold off as slaves to Egypt (of all countries), and really lost a few hundred years of development.

Now we realize that you went to a great deal of trouble to send Moses to lead us out of Egypt; and those poor Egyptian buggers were smitten with all those plagues. But, reflecting on those years, we are at a loss to understand why it took almost 40 years to make a trip that El Al now does in 45 minutes.

Also, while not appearing to be ungrateful, Moses did lead us to the left instead of to the right at Sinai! To the only place in the Middle East without any oil. And with water that is controlled by Jordan and Syria.

Oy, if only he had stopped to ask directions. OK, so the mineral rights were not a part of the deal, but then the Romans came and we were really up to our necks in dreck.

While it's true the Romans did give us water fit to drink, aqueducts, and baths, it was very disconcerting to walk down one of the vias, look up, and see one of your friends or family nailed to a three-by-four looking for all the world like a sign post.

Even one of our princes, Judah ben Hur, got caught up with Roman stuff and drove like a crazy man around the Coliseum! It's a funny thing, but many people swore that Ben Hur had an uncanny resemblance to Moses -- go figure.

Then, of all things, one of our most up-and-coming carpenters (he did great work, real cheap) declared himself your son (there was nothing said like this about Abe) and before we knew what was what, a whole new religion sprang up.

To add insult to injury, we were dispersed all over the world two or three times while this new goy (oops, guy) really caught on. We were truly sorry to hear that the Romans executed him like so many others, but -- and this will make you laugh -- once again we were blamed.

Couldn't someone else be chosen, maybe just once?

Now here's something we really don't understand. That guy, Jesus Christ, really came into his own. Millions of people revered and worshipped his name and scriptures -- and still killed us by the millions. They claimed we drank the blood of newborn infants, controlled the world banks, operated the world's media, etc. Are we beginning to make our point here?

So let's fast forward a few hundred years to the Crusades. Hoo Boy! Again, we were caught in the middle. They, the Lords and Knights, came from all over Europe to smack the Arabs and open up the holy places, but before we knew what hit us, they were killing us along with everyone else. Every time a King or a Pope was down in the opinion polls, they called for a Crusade or Holy War (today they're called a Jihad), and went on a killing rampage in our land.

So, you tested us a little here and there, but some bright cleric in Spain came up with the Inquisition. We all thought it was a new game show, but once again we and quite a few others were used as firewood for a whole new street lighting arrangement in major Spanish cities. All right, that ended after about a hundred years or so -- in the great scheme of things not a long time.

But every time we settled down in one country or another, they kicked us out. We wandered around a few hundred years or so, but it never changed. Finally we settled in a few countries, but they insisted we all live in ghettos, while the Russians came up with Pogroms. We all thought they made a spelling mistake and misspelled "programs," but we were dead wrong (very dead wrong). Apparently, when there was nothing else to occupy their time, killing Jews was the in thing to do.

Now comes the really tough noogies. We were doing quite well, thank you, in a small European country called Germany, when some housepainter wrote a book, said a few things that caught on and became their leader. Oh boy! What a bad day that was for us -- your Chosen People (by now, you must be getting the drift of this e-mail?). We really didn't know where you were in the earth years 1933 to 1945. We know everyone needs a break now and then; even the Lord God Almighty needs some time off.

But, when we needed you most, you were never around. You are probably aware of this, but if you have forgotten, over six million of your Chosen People, along with millions un-chosen others were murdered in cold blood. They even made lampshades out of our skins! Look, we don't want to dwell on the past, but it gets
worse.

Here we are, it's 1948, and millions of us are displaced again, when you really pull a fast one. We finally get our own land back! Yes, after all these years, you arrange for us to go back. Then all the Arab countries immediately declare war on us. We have to tell you that sometimes your sense of humour eludes us.

So, we win all the wars, and we're now in a new century, but nothing's changed. We keep getting blown up, hijacked and kidnapped. We have no peace whatsoever.

Enough is enough. We hope you understand that nothing's forever (except you, of course), and we respectfully would like to pull out of our verbal agreement vis a vis being your Chosen People.. Look, sometimes things work out, sometimes they don't. Let's be friends over the next few eons and see what happens.

Meanwhile, how about this idea? We're sure you recall that Abraham had a whole other family from Ishmael (the ones who got the oil).

How about making them your chosen people for a few thousand years?

Respectfully yours,
The Jews

GUESS WHAT, HOME INSPECTORS -- FROM NOW ON YOU NEED MY APPROVAL

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sat, 17 Oct 2009 08:58:30 -0500

What seems like only a few years ago, but was probably longer, the State of Texas Real Estate Commission did a very bright thing: It instituted a license requirement for a new category called Home Inspectors.

Prior to that, prospective home buyers would drag about anyone who had ever held a hammer in his hands, to look at their purchase to determine if there were needed repairs. On top of that, clients often thought their agent should provide them personal expert opinions about the home's condition, when we had no formal training to do so.

Bad feelings and law suits were always on the tight rope ready to fall.

But what has evolved is a serious number of Licensed Home Inspectors whose verbosity, especially in areas where they have no expertise at all, cause massive problems to all of the parties.

In Texas, for an example, you can no longer pour or set a foundation that has not been designed by a licensed engineer or licensed architect. And before the house can be framed, the foundation must be inspected and stamped as compliant.

This one change in the law has made a significant difference, for an example, in Dallas, a town that has had an over supply of foundation failures throughout the years. As Tom Tynan, an architect, says, the failures were primarily caused by improperly designed and engineered foundations, not by what they were sitting on.

But now we have a multitude of Licensed Home Inspectors, who are not structural engineers or architects, who are opining that a particular foundation looks to have problems. And everyone knows when you say those two words -- foundation and problems -- adjacent to each other, your deal is probably going to "go south."

The inspector has just made a total train wreck out of what should have been a solid real estate transaction, and he got paid to do it.

So I'm tired of all of this, even to the point that I wrote the commission and the commissioners last year, giving them specific examples of reports that, when reviewed on site by an architect or engineer, were stated to be totally incorrect.

No one with the commission responded to my letter and examples. And I've just had another deal fall apart because the buyer believed his inspector's opinion over that of the structural engineer.

So I have a new rule, and I'm positive I can make it stick. No Licensed Inspector is going to represent my clients -- whether buying or selling -- who isn't on my approved list. If you want to add one to my list, fine...you can after I check his references with agents who have worked with him.

Maybe others, including sellers themselves, will follow suit.

Meanwhile, I'm packing up all of the documents related to my latest misfortune, and sending them with a formal complaint to the Commission. Perhaps one day they'll see a trend here.

BILL CHERRY, REALTORS

DALLAS-HIGHLAND PARK

SINCE 1964

214 503-8563

ON THE WEB

YOU KNOW YOU MAY BE TALIBAN IF.....

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 16 Oct 2009 14:40:19 -0500

Legendary '60s disc jockey, Chuck Dunaway, sent me this. It's worth sharing:

You may be Taliban if:

1. You refine heroin for a living, but you have a moral objection to beer.
2. You own a $3,000 machine gun and $5,000 rocket launcher, but you can't afford shoes.
3. You have more wives than teeth.
4. You wipe your butt with your bare hand, but consider bacon "unclean."
5. You think vests come in two styles: bullet-proof and suicide.
6. You can't think of anyone you haven't declared Jihad against.
7. You consider television dangerous, but routinely carry explosives in your clothing.
8. You were amazed to discover that cell phones have uses other than setting off roadside bombs.
9. You have nothing against women and think every man should own at least one.
10. You've always had a crush on your neighbor's goat.

IF YOU WERE A REALTOR AND THE GOVERNMENT WERE YOUR CLIENT....

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 14 Oct 2009 16:46:03 -0500

and your commission on your first deal was a BILLION DOLLARS. Here's how to comprehend its value:

A billion seconds ago it was 1959.

B.
A billion minutes ago Jesus was alive.

C.
A billion hours ago our ancestors were
living in the Stone Age.

D.
A billion days ago no-one walked on the earth on two feet.

E.
A billion dollars ago was only
8 hours and 20 minutes,
at the rate our government
is spending it.

While this thought is still fresh in our brain...
let's take a look at New Orleans ..
It's amazing what you can learn with some simple division.

Louisiana Senator,
Mary Landrieu (D)
is presently asking Congress for
250 BILLION DOLLARS
to rebuild New Orleans . Interesting number...
what does it mean?

A.
Well... if you are one of the 484,674 residents of New Orleans
(every man, woman, and child)
you each get $516,528.

B.
Or... if you have one of the 188,251 homes in
New Orleans , your home gets $1,329,787.

C.
Or... if you are a family of four...
your family gets $2,066,012.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

On the Web

DOING BUSINESS WITH ATTORNEYS - NOT IN THIS CASE.

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Thu, 08 Oct 2009 23:52:02 -0500

At least thirty years ago, my Houston business partner and I were in the business of converting large homes into apartments -- duplexes, triplexes and the like. We did extremely well.

Our clientele was primarily comprised of young professionals. We referred to them as the avaunt garde. They weren't ready for home ownership, and they wanted to live near downtown and near the restaurants, bars, nightclubs, art galleries and the like.

Our properties were in great demand, and they always commanded higher rents than standard garden apartments.

But it didn't take us long to find out that leasing to attorneys was often a bad idea. They took their lease as a challange to see how they could tight rope the provisions to keep from falling into the fire of default. As tenants, most of them were nightmares. They required enormous amounts of our staff time.

They'd pay late, for an example, and many would do their best to get evicted rather than pay the last couple of months of their rent when they were ready to move. The Justices of the Peace would more often than not rule that we had to compromise on what was owed us. IF it was three months, for an example, the judge would insist that we forgive at least a month's rent.

We grew to hate attorneys. Finally, my partner said, "Let's stop renting to attorneys starting right now," so we did. And it was great fun. When one of them would fill out our leasing application and list his profession as "attorney," our leasing manager would say, "I'm sorry, we don't lease to attorneys."

Of course they'd hit the ceiling, and begin their mumbo jumbo as to why the law required that we not discriminate against them. Our stock answer was, "The classification to which you are a member is known as "attorney." The law does not allow us to discriminate against people because of their race, creed or national origin. Until attorney is added, we don't lease to them."

I hadn't thought about that in recent years. A current business situation reminded me of our former good judgement.

SCARY NEW HOME VALUATION CODE OF CONDUCT REGULATIONS PROPOSED

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Thu, 08 Oct 2009 10:08:40 -0500

Without being invited, the federal government has been busy working toward more home sale and mortgage rules and regulations.

When stuff like this happens, I often wonder why the National Association of Realtors and its huge membership isn't in their pitching a fit. We certainly ought to be able to carry more weight in matters like this because of our expertise.

Instead, we have people who know very little about our business working to tell us how it would be better run.

In this case, with the new energy savings requirement, how will most of America sell its homes?

Bob Gray, Jr., who is one of my mortgage broker friends, sent me an analysis of what these new rules will mean to us. I can't offer that analysis to you here since it is copyrighted, but I can give you the proposed bill for you to look at yourself.

And I suggest you do it, and that you express your opinion, whether for or against.

http://www.govtrack.us/congress/billtext.xpd?bill=h111-2454. If this link does not work, google search for H.R. 2454.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

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　Our 45th Year Selling Americans Their Homes

NEOLOGISMS -- A SUBJECT THAT HAS NOTHING WHATSOEVER TO DO WITH REAL ESTATE

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 07 Oct 2009 17:22:44 -0500

Once again, The Washington Post has published the winning submissions to its
yearly neologism contest, in which readers are asked to supply alternative
meanings for common words.

The winners are:

1. Coffee (n.), the person upon whom one coughs.

2. Flabbergasted (adj.), appalled over how much weight you have gained.

3. Abdicate (v.), to give up all hope of ever having a flat stomach.

4. Esplanade (v.), to attempt an explanation while drunk.

5. Willy-nilly - (Censored)

6. Negligent (adj.), describes a condition in which you absentmindedly
answer the door in your nightgown.

7. Lymph (v.), to walk with a lisp.

8. Gargoyle (n), olive-flavored mouthwash.

9. Flatulence (n.) emergency vehicle that picks you up after you are
run over by a steamroller.

10. Balderdash (n.), a rapidly receding hairline.

11. Testicle (n.), a humorous question on an exam.

12. Rectitude (n.), the formal, dignified bearing adopted by proctologists.

13. Pokemon (n), a Rastafarian proctologist.

14. Oyster (n.), a person who sprinkles his conversation with Yiddishisms.

15. Frisbeetarianism (n.), (back by popular demand): The belief that,
when you die, your soul flies up onto the roof and gets stuck there.

16. Circumvent (n.), an opening in the front of boxer shorts worn by
Jewish men.

The Washington Post's Style Invitational also asked readers to take
any word from the dictionary, alter it by adding, subtracting, or
changing one letter, and supply a new definition.
Here are this year's winners:

1. Bozone (n.): The substance surrounding stupid people that stops
bright ideas from penetrating. The bozone layer, unfortunately, shows
little sign of breaking down in the near future.

3. Cashtration (n.): The act of buying a house, which renders the
subject financially impotent for an indefinite period.

4. Giraffiti (n): Vandalism spray-painted very, very high.

5. Sarchasm (n): The gulf between the author of sarcastic wit and the
person who doesn't get it.

6. Inoculatte (v): To take coffee intravenously when you are running late.

7. Hipatitis (n): Terminal coolness.

8. Osteopornosis (n): A degenerate disease. (This one got extra credit.)

9. Karmageddon (n): its like, when everybody is sending off all these
really bad vibes, right? And then, like, the Earth explodes and it's
like, a serious bummer.

10. Decafalon (n.): The grueling event of getting through the day
consuming only things that are good for you.

11. Glibido (v): All talk and no action.

12. Dopeler effect (n): The tendency of stupid ideas to seem smarter
when they come at you rapidly.

13. Arachnoleptic fit (n..): The frantic dance performed just after
you've accidentally walked through a spider web.

14. Beelzebug (n.): Satan in the form of a mosquito that gets into
your bedroom at three in the morning and cannot be cast out.

15. Caterpallor (n.): The color you turn after finding half a grub in
the fruit you're eating.

And the pick of the literature:

16. Ignoranus (n): A person who's both stupid and a butt.

BILL CHERRY, REALTORS

DALLAS-HIGHLAND PARK

214 5-3-8563

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OUR 45TH YEAR SELLING AMERICA!

THE BIG HURT

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sun, 04 Oct 2009 22:57:35 -0500

THE BIG HURT

By Bill Cherry, Realtor

I don't know who had chosen which records would be among the 100 on the Seeburg Selectomatic jukebox with the neon-style lights that added the only tinge of brightness in the teeny night club, but it didn't matter, really.

Because out of the 100 possibilities that were in the jukebox's record slots, five had inadvertently been found that the clientele would play over and over again, almost always ignoring the rest.

The favorite one was sung by a one-tune wonder named Toni Fisher. And even though it had come out in 1959, seven years later it remained Number 1 on the Metropole Club Hit Parade, six plays in succession for a quarter. Its title was "The Big Hurt." It went like this:

Now it begins, now that you've gone

Needles and pins, twilight till dawn
Watching that clock till you return
Lighting that torch and watching it burn

The Metropole Club in Galveston was no more than 15 feet wide by 50 feet long. There was a bar on the right with about 12 stools. Along the other wall, front to back, were leatherette overstuffed chairs and a couple of loveseats.

Next was the Seeburg jukebox.

At that point, an archway separated the front portion from the back where there was a small dance floor surrounded by a series of tables for two and a spinet piano.

Around the dance floor's walls were little wooden lockers where members of the Metropole kept their own individual bottles of liquor.

The club's owner, president, manager and bartender was Dorothy Graham, a holdover from the days of slot machines, and the all night debauchery that Galveston had been famous for as recently as ten years before.

Next door to the Metropole Club was the Busy Bee Cleaners, owned by Ed Wheeler, who was also Miss Dorothy's landlord.

Miss Dorothy would open the Metropole Club each morning just before noon, and she would try to abide by the law that required her to close no later than midnight.

But if the place was jumping and she was partying with the others, she would oft times run over into the wee hours of the morning.

The Liquor Control Board didn't seem to care enough to catch her.

A number of Miss Dorothy's regulars were doctors. Of those, two or three were on the staff at John Sealy Hospital, and the others, St. Mary's Infirmary.

Four of them would come in together about seven each evening, begin buying each other drinks, and then the one of them who was called "Dr. B" would make a bee-line to the spinet piano to play his theme song, "The Sweetheart of Sigma Chi," with a banging segue and extreme rhythm change into "When the Saints Go Marching In."

Others customers came and went, but these four doctors usually stayed late, playing, singing and drinking.

One night when the four rang the doorbell, one of the regular customers did the peeking and admitting. Miss Dorothy was asleep on one of the loveseats.

That hadn't stopped the customers from making their own drinks, ringing up their purchases and listening to "The Big Hurt."

Someone said to the doctors that Miss Dorothy was not feeling well, and had been on the loveseat for at least several hours.

Dr. B felt her forehead and proclaimed she was OK, that she just had a bad cold. Miss Dorothy didn't move or open an eyelid.

Dr. B went to the spinet and started banging out his "Sweetheart of Sigma Chi"--"When the Saints Go Marching In" medley, drowning out Toni Fisher's "The Big Hurt."

The next night when the doctors arrived, again they were greeted by a customer when they rang the doorbell. Miss Dorothy was still asleep on the loveseat.

Since she had on the same clothes, it was fairly certain that she had been there since the previous night.

One of the doctors went behind the bar to fix the four their toddies. Dr. B. glanced at Miss Dorothy on his way to the piano. Miss Dorothy didn't open an eye. Toni Fisher was warbling. "The Sweetheart of Sigma Chi" began.

On the third night, everything was the same as before. And Miss Dorothy was still lying asleep on the loveseat.

But this time, Miss Edna, one of Miss Dorothy's friends and a customer said to the medical four, "I'm very worried about her. I've been waiting for you to come in. Could one of you examiner her and maybe give her a shot of penicillin? I think she should be in the hospital."

Dr. B and the boys walked over, stood above Miss Dorothy and proclaimed that she just had the bug that was going around.

"She'll be fine in a few days. She can take aspirin if she wants. It might make her feel a bit better," Dr. B said, now on his way to the piano.

Toni Fisher continued to sing.

Oh, each time you go
I try to pretend
It's over at last
This time the big hurt will end

The next morning Mr. Ed, Miss Dorothy's landlord, noticed that her little Mercury was in the same parking spot where it had been for the past four days. It was three hours before the time she usually arrived. He decided to investigate.

The Metropole Club's door unlocked, so he went in. Miss Dorothy was stretched out on the loveseat. Mr. Ed was shocked. He called for an ambulance. Later that day Miss Dorothy died.

That evening the doctors moved their activities to a neighborhood bar that was nearer to John Sealy and St. Mary's. Toni Fisher and "The Big Hurt" and the memory of Miss Dorothy stayed behind at the Metropole Club.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

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HAVE YOU GOT A CONTEMPORARY HOME IN DALLAS?

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Thu, 01 Oct 2009 19:47:10 -0500

OK, here's the deal. I have a client who would like to buy a contemporary home in the heart of Dallas -- Highland Park, University Park, Preston Hollow -- in the $800,000 to $1,100,000 price range.

A kitchen that says WOW and bathrooms that are spectacular are important. And my client is not interested in taking on a remodeling project.

If you're a Realtor with a hip pocket listing that matches up, email or call me. If you are a homeowner and you'd consider selling, call me.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Our 45th Year Selling the Fine Homes of Texas

214 503-8563

cherrysells@aol.com

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Dr. Charles Krauthammer Speaks About President Obama?

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 30 Sep 2009 06:31:27 -0500

NOTE: It is difficult to determine whether or not the following is an accounting of a talk made by Dr. Krauthammer. One ActiveRain friend found evidence that it is not.

Nevertheless, the thoughts enumerated, whether representative of a speech given by Dr. Krauthammer or not, are intriguing and are most certainly shared by many Americans and people elsewhere. I am posting it as I received it.

DR. CHARLES KRAUTHAMMER, FOX NEWS

Dr. Charles Krauthammer is on Fox News. He is an M.D. and a lawyer and is paralyzed from the neck down.

Recently Dr. Krauthammer is alleged to have spoken to the Center for the American Experiment.

He is thought by many to be a brilliant intellectual, seasoned & articulate. "He is forthright and careful in his analysis, and never resorts to emotions or personal insults. He is NOT a fear monger nor an extremist in his comments and views," one friend wrote.

He is a fiscal conservative, and has received a Pulitzer Prize for writing. He is a frequent contributor to Fox News and writes weekly for the Washington Post.

ALLEGED SUMMARY OF HIS COMMENTS:

1. Mr. Obama is a very intellectual, charming individual. He is not to be underestimated. He is a cool customer who doesn't show his emotions. It's very hard to know what's behind the mask. The taking down of the Clinton dynasty by a political neophyte was an amazing accomplishment. The Clintons still do not understand what hit them. Obama was in the perfect place at the perfect time.

2. Obama has political skills comparable to Reagan and Clinton. He has a way of making you think he's on your side, agreeing with your position, while doing the opposite. Pay no attention to what he SAYS; rather, watch what he DOES!

3. Obama has a ruthless quest for power. He did not come to Washington to make something out of himself, but rather to change everything, including dismantling capitalism. He can't be straightforward on his ambitions, as the public would not go along. He has a heavy hand, and wants to level the playing field with income redistribution and punishment to the achievers of society. He would like to model the USA to Great Britain or Canada .

4. His three main goals are to control ENERGY, PUBLIC EDUCATION, and NATIONAL HEALTHCARE by the Federal government. He doesn't care about the auto or financial services industries, but got them as an early bonus. The cap and trade will add costs to everything and stifle growth. Paying for FREE college education is his goal. Most scary is his healthcare program, because if you make it FREE and add 46,000,000 people to a Medicare-type single-payer system, the costs will go through the roof. The only way to control costs is with massive RATIONING of services, like in Canada. God forbid!

5. He has surrounded himself with mostly far-left academic types. No one around him has ever even run a candy store. But they are going to try and run the auto, financial, banking and other industries. This obviously can't work in the long run. Obama is not a socialist; rather he's a far-left secular progressive bent on nothing short of revolution. He ran as a moderate, but will govern from the hard left. Again, watch what he does, not what he says.

6. Obama doesn't really see himself as President of the United States, but more as a ruler over the world. He sees himself above it all, trying to orchestrate & coordinate various countries and their agendas. He sees moral equivalency in all cultures. His apology tour in Germany and England was a prime example of how he sees America, as an imperialist nation that has been arrogant, rather than a great noble nation that has at times made errors. This is the first President ever who has chastised our allies and appeased our enemies!

7. He is now handing out goodies. He hopes that the bill (and pain) will not come due until after he is reelected in 2012. He would like to blame all problems on Bush from the past, and hopefully his successor in the future. He has a huge ego, and Dr. Krauthammer believes he is a narcissist.

8. Republicans are in the wilderness for a while, but will emerge strong. Republicans are pining for another Reagan, but there will never be another like him. Krauthammer believes Mitt Romney, Tim Pawlenty & Bobby Jindahl (except for his terrible speech in February) are the future of the party. Newt Gingrich is brilliant, but has baggage. Sarah Palin is sincere and intelligent, but needs to really be seriously boning up on facts and info if she is to be a serious candidate in the future. We need to return to the party of lower taxes, smaller government, personal responsibility, strong national defense, and state's rights.

9. The current level of spending is irresponsible and outrageous. We are spending trillions that we don't have. This could lead to hyperinflation, depression or worse. No country has ever spent themselves into prosperity. The media is giving Obama, Reid and Pelosi a pass because they love their agenda. But eventually the bill will come due and people will realize the huge bailouts didn't work, nor will the stimulus package.These were trillion-dollar payoffs to Obama's allies, unions and the Congress to placate the left, so he can get support for #4 above.

10. The election was over in mid-September when Lehman brothers failed, fear and panic swept in, we had an unpopular President, and the war was grinding on indefinitely without a clear outcome. The people are in pain, and the mantra of change caused people to act emotionally. Any Dem would have won this election; it was surprising it was as close as it was.

826 WESTMOUNT -- OAK CLIFF -- DALLAS $105,000

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sat, 26 Sep 2009 19:45:12 -0500

AUSTIN STONE TUDOR BUNGALOW

526 WESTMOUNT AVENUE

$105,000

Dallas MLS #11280512

On a winding street of trees and nice yards, the two bedroom, one bath home with a big brick and stone fireplace, is perfect for a couple on a budget, and it's for certain worthy of consideration for those investing in single family rentals.

With central air and heat, floored attic, new kitchen appliances and hardwoods throughout. There's an oversize two car detached garage with a separate workshop that runs the entire length.

Directions: I-30 West, left toward Ft. Worth. Take Hampton south, right on Ft. Worth Avenue, left on Westmount.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

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Our 45th Year Selling Texas

The editors of Marquis Who's Who in America chose William S. "Bill" Cherry, Ph.D., Realtor-Broker for inclusion in Who's Who in America, Who's Who in Business and Finance and Who's Who in the World.

Interesting and Responsible Court Ruling

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sat, 26 Sep 2009 07:47:45 -0500

A state Supreme Court has filed an interesting decision about foreclosing mortgages backing mortgage based securities.

http://www.globalresearch.ca/index.php?context=va&aid=15324

Bill Cherry

TEXAS HOME SALES VOLUME - August 2009

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Fri, 25 Sep 2009 13:55:57 -0500

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

Fax 214 666-9985

OUR 45TH YEAR SELLING TEXAS

ON THE WEB

Here is how select Texas cities faired in August (data current as of Sept. 24, 2009):

	Sales	Change from Last Year	Median Price	Change from Last Year	Months' Inventory
Austin	1,996	down 10%	$187,000	down 4%	6.7
Dallas	4,183	down 15%	$161,500	up 1%	6.5
Fort Worth	756	down 17%	$116,300	down 4%	6.8
Houston	5,555	down 11%	$159,700	up 1%	6.8
Killeen-Fort Hood	262	up 19%	$127,100	up 1%	9.8
Laredo	72	down 19%	$116,400	down 10%	9.4
Lufkin	48	down 20%	$95,000	down 17%	na
Odessa	92	down 39%	$118,700	down 13%	7.9
San Antonio	1,808	up 1%	$146,500	down 2%	8.3
Texarkana	85	down 11%	$111,000	up 25%	8.7

The National Association of Realtors reports that, nationally, sales of existing single-family homes fell 2.8 percent last month to a seasonally adjusted annual rate of 4.48 million from 4.61 million in July. However, that was 2.5 percent higher than the 4.37 million-unit pace reported a year ago.

Meanwhile, the median existing home price was $177,500 in August, down 12.1 percent from August 2008.

Source: Real Estate Center - Texas A&M.

Reprinted with Permission

Inspection Reports -- Often An Incorrect Scope Causes an Unfortunate Conclusion

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Wed, 23 Sep 2009 06:47:43 -0500

One of the facets of the real estate business that generated itself during my years as a Texas real estate broker was the advent of the licensed professional home inspector.

It was such a positive step because it provided a more credible source of home structure and mechanical evaluations than had been available before. And it gave everyone in a real estate transaction -- buyer, seller and agents -- a state regulated source for those answers.

But as the inspection profession and its use have evolved, it has often times caused more problems than it has solved, and many otherwise good and solid deals have been lost, the result of simply overbearing inspection reports, and their misuse by buyers.

In general, a professional inspector's charge is to locate and enumerate the current substandard parts of a home's construction and its plumbing and mechanical parts. It is not to point out chipped paint, squeaking doors, stained carpet and the like.

What the untrained eye could see, it should be reasoned, was or should have been taken into account when the buyer submitted his contract. The resulting contract should either point out that those items will be repaired by the seller prior to closing, or the buyer makes an adjustment in his offering price to cover taking those parts " as-is".

It is also not the inspector's charge to opine how structural and mechanical errors should be resolved. His job is only to list the items and suggest why they should be evaluated by contractors licensed in those fields. He should make it clear that he is not (in most cases) a substitute for the eye and advice of, say, a licensed electrician.

It seems to me that if the inspector is not a licensed structural engineer, master plumber, etc., and further, that it would be illegal for him to make the repairs himself, then the state obviously does not have confidence in his ability to do anything other than point out what he feels is worthy of further evaluation by a professional.

What has developed is a profession with members who all but run wild when they receive an inspection assignment, often times their oral and written reports are so full of nonsense that as a minimum, hundreds of dollars are spent to find out that the inspector was incorrect, and as maximum, the deal is not consummated. The inspector does not share in the responsibility for the loss.

Realtors should explain to their clients what comprises the scope of the inspector's training and what he is supposed to evaluate and report on. We should remind our clients that prior to making their offer and retaining an inspector, they are expected to make adjustments in their offer for anything that the naked, untrained eye should see.

And that they must take into consideration that the seller and his Realtor also tried to make fair adjustments for those deficiencies when they determined the price the property would be offered for sale.

There is a time-tested Jewish rule that offers good advice here: At a good dinner, there must be something on the table for everyone. A buyer should not use the inspector's report to attempt to take unfair advantage of the seller. Instead, it should be used exactly for what it was designed to be -- a manner for knowing about, thus resolving those building issues that neither the seller and his agent or the buyer and his agent knew about prior to the inspection.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

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BEST DALLAS DOCTORS -- A PATIENT'S SELECTION

BILL CHERRY (BILL CHERRY, REALTORS - DALLAS) — Sun, 20 Sep 2009 12:18:27 -0500

It's a bit annoying, really, when I read in D Magazine who they've named as the Best ....(fill in the blank)...in Dallas. Best Realtors, Best Attorneys, Best Physicians. And then when I go to the "Elected's" offices, I see a big copy of that D ad and appointment framed for all to see.

And the reason it does is because those appointments appear to be bought. Along with the "appointment" comes a big full-color picture ad of the winner. And I know that ad didn't come free, and I'm fairly certain that the deal for appointment and ad purchase were contemporaneous.

So who really knows whether they're any good or not?

So during the past four years, we have culled through any number of Dallas physicians. and found a handful that we think deserve recognition. So here for you is the

BILL CHERRY, REALTORS, 1ST ANNUAL BEST PHYSICIANS AWARDS

Tao A. Ho - Internal Medicine. 972 566-6000

David W. Barnett - Neurosurgeon, 214 823-2052

G. Andreas Quiceno - Rheumatologist, 469 916-4906

Matthew D. Shuford - Urologist, 214 826-6021

William deLeon - Radiologist, 214 820-8420

Sonya Merrill, Internal Medicine - Sleep Specialist, 214 345-1401

Barry Milner - Ophthalmologist, 214 826-8201

Of course this is not to infer that these are the only good physicians in their chosen fields. It is to infer that our experience showed these to be especially good when we needed their care. (I purposely left out those whom we "fired" after one or two visits. Those who were quickly moved to the "fired" status were the ones who didn't promptly return our phone calls. Some never did.)

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

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