I recently received an uncomfortable phone call from a condo owner.  He was contacting me about a special assessment that had been announced by his HOA.  The property needed some long overdue repairs and updating and the HOA voted to assess each unit owner to cover those expenses.

The condo owner who called me was in a panic.  He had lost his job and luckily found another making less money, but could not afford the assessment.  When he had purchased his condo two years ago he had been told by his REALTOR® that if he paid his monthly HOA charges that it would cover "all the upkeep and maintenance on the property".  Now here is the HOA charging him thousands of dollars he does not have.

I wish I could say that this is the first time I have heard this story, but it seems to find its way to my phone every so often and unfortunately there is nothing that the homeowner can do about it.  The HOA, according to the community documents and charters does have the right to make periodic "special" assessments.

This particular condo owner said he chose the condo over a single family home because it alleviated any need for exterior maintenance beyond his monthly payment.  When I asked him if he had checked the HOA's finances before he bought there he told me no.  When I asked if he had bothered to read the HOA/Condo documents he said no. 

Had he done these two simple things, his situation (and decision) might have been different.  I explained to him how condo/HOA finances work.  He e-mailed me the financials and looking at them there was no way that there had been enough in their reserve accounts to cover the roof replacement that was now needed.  The roof had been, in effect, a ticking time bomb.

The bottom line is that practically all HOA's can and do periodically assess their members for high dollar and unexpected items.  If you buy a condo, plan on your own reserve account to cover these possible charges. 

Remember, when you live in a Condominium or HOA community, the collective community's interests will always come before that of any one individual owner, and the timing of monetary assessments is just one potential conflict.  Also, read the condo documents and request a copy of the HOA's current year budget to review.  Your agent can help explain these documents to you and reviewing them may prevent you from making a decision that you might regret later.

Be an informed buyer!

When my cousins Abby and Jason lived here in Dallas, our weekend tradition was a Sunday morning visit to Maxim's Restaurant for Dim Sum and conversation.  Abby and Jason moved to New Hampshire in 2006, so my visits with them to Maxim's are less frequent, but I can always count on two things... my cousins will find their way back to Texas for the holidays and the Dim Sum at Maxims will always be just as good as the last time we were there together.

For those unfamiliar with Dim Sum, it is a style of Chinese cuisine that features smaller portions of light dishes.  Sort of a the Chinese equivalent of Tapas.  The dishes are a variety of primarily steamed or fried items along with some meat dishes and sweet desserts.

Dim Sum is typically served with hot tea and unlike a typical restaurant experience, Dim Sum is usually served from small carts wheeled around the restaurant where dining patrons can see the food and choose which items they want by sight.

Being a fan of dumplings, Dim Sum is a personal favorite because there are always several selections of both the steamed and fried varieties.  Today we had Shaomai (steamed dumplings with with ground pork and shrimp), steamed and fried shrimp dumplings, shark fin dumplings (a pork dumpling that resembles a shark fin in appearance) griddled fried noodles, BBQ pork buns, roasted duck and two varieties of fried squid.  Everything was exceptionally good, as it always is. 

Located at 310 Terrace Drive in Richardson, a visit to Maxim's Restaurant for Dim Sum is a genuine treat.  On weekends they do get crowded, so if you see people waiting, don't worry... just get in line, it's worth the wait!

While doing some research on Google this weekend an odd search result caught my eye and my curiosity got the best of me.  Being single may have had something to do with it.

Match.com, the online dating site, has compiled a list of the most affordable cities for dating.  The cost of a date was calculated as a casual dinner and two movie tickets.  I am hoping a casual dinner included a beer or glass of wine at least!

The ranking (from most to least affordable) is:
1. Pittsburgh
2. Detroit
3. Sacramento
4. Phoenix
5. Indianapolis
6. St. Louis
7. Tampa - St. Petersburg
8. Orlando - Daytona Beach
9. Houston
10. Charlotte 
11. Atlanta
12. Denver
13. Cleveland
14. Miami
15. Portland, Oregon
16. Minneapolis - St. Paul
17. Seattle
18. Philadelphia
19. Boston
20. Dallas - Fort Worth
21. Washington, D.C.
22. Chicago
23. New York
24. San Francisco
25. Los Angeles

In the press release I found on Google, they did not give costs for all the cities, but they did mention that Pittsburgh was the lowest at $77.80 and that Los Angeles topped out the list at $126.06.

I have to admit, I found the ranking interesting because it is not a direct correlation to most lists I have seen that rank housing costs.  Certain cities at the costly end of the scale did not surprise me much, but I was a bit surprised that Dallas did not rank higher and some cities like Atlanta and Miami were not further down in the rankings.  I want to know where the Dallas folks ate dinner! 

I have to wonder what some people are thinking when they call me about a short sale.  With increasing regularity the phone conversations are beginning with a story about how their mortgage company after an exhaustive number of calls and requests has flat out denied their request for a loan modification that would prevent them from having to move out of their home.

This doesn't seem so difficult to believe on the surface, but when I move on to my short sale interview with them I am consistently left wondering what ever made them think that a loan modification was a serious possibility?  Many people are simply living much too far beyond their means for a loan modification to make enough of a difference.

It's difficult to accept, but some of us simply need to downsize to face the realities of the current economy.  If you have lost your six-figure job and have been unemployed for a year with no job prospect on the horizon, a loan modification on a home you owe more than $500K on is like putting a band-aid on a knife wound, that tiny gauze pad may absorb a small amount of blood, but it's just going to keep bleeding until you get to the emergency room and have it stitched up.

I have helped many people with short sales that were necessary due to unemployment... and the careers have ranged from Administrative Assistants to Attorneys.  Nobody and no class of profession is immune from the current employment challenges, and each of my short sale clients has told me that when they have found new jobs that their pay was notably less (usually by 25+%).   These sellers eventually realized that not getting the loan modification they had been seeking saved them from sinking more money into a house they would have had to sell anyway!

You see, loan modifications work well for people who have suffered a loss of income or whose adjustable interest rate has increased their payments to an unmanageable level, but for whom there is still foreseeable financial stability.  If you are lacking that stability go back up two paragraphs and read my band-aid analogy again.  Because nobody can tell when the current economic challenges will end and where it will leave people impacted by them, for many homeowners, moving forward and downsizing for the short term makes more sense than postponing what might be inevitable.

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If you are in the Dallas/Fort Worth metroplex, have been turned down for a loan modification and would like to explore the possibility of a Short Sale on your home with an experienced REALTOR®, call me today at (469)449-9840 to schedule a consultation.  Or visit my Dallas Real Estate website at HomeSalesRemedy.com.  I'd be happy to help you move forward and achieve your objectives.

In the past I have blogged about how much I enjoy the food (and convenience) of Eatzi's.  In my blog from March of this year [My Salad (and other food) Days at Eatzi's] I talked about how great their fresh salads are.  Well the folks at Eatzi's are no fools, they know if they tempt you with something sinful before you get to the salad station at the rear of the store they can probably entice me.  And that's exactly what they have done.

On Friday evenings only, between 4:00 and 9:00 Eatzi's is now offering 4 Hot prepared Pizzas ready to grab and go, just a few feet inside the front door.  Trust me, you will NEVER make it back to the salads!

The Pizzas are the thin crust variety and come in 4 varieties:

Mushroom:  Shiitake, Portabella and Button Mushrooms with Goat Cheese, Caramelized Onion, Fresh Rosemary Mozzarella, Asiago and Provolone.

Hot Coppa:  Hot Cappicola with Tomato sauce, Fresh Oregano, Crushed Red Pepper, Mozzarella, Asiago, Shaved Reggiano and Provolone.

Multi Cheese:  White Style Pizza with Roasted garlic oil, Ricotta, Gorgonzola, Mozzarella, Asiago, Provolone, Fresh basil and Oregano

Margherita:  Sun Dried Tomato Puree with Fresh Mozzarella, Basil and Extra Virgin Olive Oil. 

The picture shown is the Margherita Pizza.

Each variety is $10.00 including tax and will easily feed 2-3 people.

It's doing nothing for my diet, but these pizzas sure are tasty... if you are in the Oak Lawn / Uptown / Turtle Creek area, check them out any Friday evening.  Eatzi's is located at 3500 Oak Lawn Avenue in Dallas.

Beginning in less than 2 weeks, Six Flags Over Texas in Arlington will be transformed into a Winter Wonderland as North Texas transitions from Thanksgiving to the Winter Holiday season.

Holiday in the Park will run from November 27, 2009 through January 3, 2010 and, in addition to the parks usual rides and family fun, features special holiday themed shows, carolers, a snow hill for sledding and special holiday decorations featuring over one million holiday lights.

Be sure not to miss what has become, for many families, a holiday season tradition filled with fun and photo album memories.  Tickets cost $34.99 at the park, but can be purchased in advance online for just $24.99.   

In a world where terms like Short Sale, Loan Modification, Workout Solutions and Foreclosure are becoming better known to many American who wish they didn't need to know them, one word seems to avoid many homeowners' radar screens: Forbearance.

For those unfamiliar, Forbearance is great option for many homeowners who have experienced a significant change in income level because Forbearance postpones mortgage payments for a period of time.  Homeowners who have lost their jobs can arrange for a Forbearance agreement with their mortgage company which basically allows them, for a fixed period of perhaps three to six months, to either suspend paying their mortgage or pay a reduced amount... this allows a homeowner time to seek new employment or work out the necessary solution to their financial and income related issues.  At the end of the set period, the mortgage company and the homeowner set a plan to make up the payments that were missed, either by paying a portion every month over a set period of time, or perhaps adding the missed payments to the end of the mortgage note.

While not a solution for every homeowner, and certainly a solution that is easier to utilize when the employment market is stronger, Forbearance could serve many homeowners well.  Not all mortgage lenders offer this solution, and, according to a news report I heard recently, counselors have reported that only 4% of homeowners applying for HUD assistance have been granted Forbearance, but if you or someone you know is temporarily struggling with their mortgage, the possibility of Forbearance is worth investigating.

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If you are in the Dallas/Fort Worth area and are looking for an experienced REALTOR® to offer guidance, support, and make the home buying or selling process easier and more friendly, call me today at (469)449-9840 to schedule a consultation.  Or visit my Dallas Real Estate and Short Sale Information website at HomeSalesRemedy.com.  I'd be happy to help you move forward and achieve your Real Estate objectives.

Not located in the D/FW area?  Contact me anyway... I'd be happy to refer you to a REALTOR® in your area who can help you with the same personal service that I provide to my clients.

We all know about calling 9-1-1 for emergency services, and 4-1-1 for directory assistance.  Many people also know that dialing 3-1-1 will connect you with city services, but what about 2-1-1?  Who answers when you dial that number?  The answer is that it is a service of the Texas Health and Human Service Commission and provides free information to Texans on a wide variety of topics including paying their mortgage, rent or utilities, registering for food stamps, locating food pantries, shelter services, or accessing clothing, counseling child care, senior services, disaster relief and other programs.

Like I mentioned in my title, it's where to call in Texas when you don't know where to call for human services.  Thankfully, many people did, however, know enough to call 2-1-1 because last year alone, they received over 2 million calls from Texans seeking assistance.

2-1-1 operates 24 hours-a-day, 7 days-a-week.  For more information, you can also visit them online at www.211texas.org.

Now, I know there are dense people in the world, but this post is about landscaping.  While I know the importance of curb appeal, it seems that with many buyers, clean, tidy and inviting just doesn't cut it anymore.

Based on some recent experience, I am a believer... density grabs attention.  It's a tale of two listings.  One has very lush and dense landscaping (vine covered walls and dense clusters of seasonal color that just pop).  Every comment I get, whether it is from after showing feedback e-mails, sign calls, or calls from consumers who see the property online, mentions how attractive they find the landscaping.  The other listing is a very nice home, with trees and well kept hedges and planting beds, but the landscape is more "typical", meaning that is balanced and well spaced.

Now both of these properties are well priced and good buys, but the one with the dense landscape captures the attention of everyone who looks at it.  People call me and remember the smallest details of that house (which is less interesting inside than the one with more traditional landscaping), while the other home, while nicer inside is clearly less memorable in buyers' minds.

Could it be that the drive-up and first impression makes the first house with the dense landscaping more memorable?  Are buyers captivated by it from the outside so that any interior shortcomings are over looked... sort of a real estate "halo effect"?

I'm not sure what the answer is, but while I am not a fan of dense people, I am definitely seeing the benefit of density in landscaping!

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If you are in the Dallas/Fort Worth metroplex and are looking for an experienced REALTOR® to offer guidance, support, and make the home buying or selling process easier and more friendly, call me today at (469)449-9840 to schedule a consultation.  Or visit my Dallas Real Estate website at EasyTexasRealEstate.com.  I'd be happy to help you move forward and achieve your Real Estate objectives.  Make your dream of home ownership or selling your home a reality!

Not located in the D/FW area?  Contact me anyway... I'd be happy to refer you to a REALTOR® in your area who can help you with the same personal service that I provide to my clients.

This photograph is the exclusive property of Steve Shatsky.  It may not be used or reproduced in any manner without expressed written permission from Steve Shatsky.  ©Copyright 2009.  All Rights Reserved.

I love food... and Sunday nights there is nothing I enjoy more than watching the Iron Chef on the Food Network... but this post is inspired by the show which follows Iron Chef, Throwdown with Bobby Flay.

I like to consider myself the Bobby Flay of Dallas Short Sales.  I still can remember almost 6 years ago when I listed my first Short Sale how hard it was to find anyone in my market who had ever heard of a Short Sale, let alone had worked a Short Sale deal themselves.  Even today, Short Sales seem to be less common than they are in many other parts of the country, so finding a Dallas Short Sale Specialist who actually has significant experience can be difficult for consumers.

Often when my phone rings, the home seller on the other end of the line will tell me that they were just about to list with another agent but they found me on Google or Yahoo or Bing and decided to call me to see if I could offer something more or different than the other agent they are speaking with.

It's like on Throwdown, some chef is just doing their thing, feeling confident, and then Bobby Flay shows up unexpectedly to challenge them to a Throwdown, making his take on their signature dish.  I love the excitement of sharing my knowledge and experience with consumers and I am always amazed at how many people are moments away from listing their homes as a short sale with agents who have no experience in this specialized type of transaction.

Now don't get me wrong, I have taught classes on Short Sale transactions and have personally mentored other agents in this area (at no cost to them).  I am a huge believer, as I know Bobby Flay is about cooking, that more people doing what we do well only means better things for everyone.  I have always believed ours is an industry of friendly competition and will continue to promote that spirit in my community.  But like Bobby, I also enjoy competing against my colleagues... the competition always seems to raise the bar and no matter who gets the business, the winner is (and should be) the consumer.

Knowing my markets, knowing the different short sale lenders and their policies and procedures, my nearly 6 years of experience and knowing the implications and "ins and outs" of Short Sales gives me a lot to draw on in a Throwdown.  If you want to do the best job, you need to be prepared and hone your craft.  And even if you are prepared and lose the listing, you will inevitably learn something which helps prepare you to win the next time.

So, as they ask at the end of each episode of Throwdown... To all you Short Sale Specialists out there... Keep doing what you do, but ask yourself this:  Are you ready for a Throwdown?