Sunday, November 22, 2009

Norman Radow, Hired to Clean Up Real Estate Messes - NYTimes.com

Norman Radow, Hired to Clean Up Real Estate Messes - NYTimes.com: "As founder of Radco Development Solutions, Mr. Radow is on the firing line in the continuing battle over failed residential real estate deals. Banks hire him to resurrect developments gone awry, particularly those half-empty condominium towers and gated communities that sprang up like weeds during the boom and are now in foreclosure."
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Maybe a TV series? "WORKOUT ARTIST!"

The battle at Bridgewater

The battle at Bridgewater: "WESLEY CHAPEL - As he tries to rehabilitate his struggling neighborhood, Mark Spector, president of the Bridgewater homeowners association, has taken a 'zero tolerance' approach toward people who break his community's rules."
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They even hired a PR firm. But how do you sell that zero tolerance policy to prospective buyers? That's an unpleasant prospect for most people.

HOA foreclosures high in Myrtle Beach area as dues fall behind - Local - TheSunNews.com

HOA foreclosures high in Myrtle Beach area as dues fall behind - Local - TheSunNews.com: "John Fritzsch knew he was behind on his payments to his homeowners association, but he was still floored when he learned those late payments had led the association to foreclose on his condominium in Myrtle Beach.

'It wasn't something that I expected,' he said, adding that he didn't know the association had the power to foreclose on him.

Fritzsch, of Brick, N.J., was diagnosed with multiple sclerosis after buying the condo in 2005, a setback that forced him to stop working and that brought mounds of medical bills - which made him fallbehind on his HOA payments."

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The foreclosures are mounting, and we are not at the peak yet.

$300 dues hike too much, say Twin Lakes Golf & Country Club residents | Federal Way - The News Tribune | Seattle-Tacoma News, Weather, Sports, Jobs, Homes and Cars | South Pu

$300 dues hike too much, say Twin Lakes Golf & Country Club residents | Federal Way - The News Tribune | Seattle-Tacoma News, Weather, Sports, Jobs, Homes and Cars | South Pu: "“If something doesn’t change at the golf club, we won’t be in operation a year from now,” said Jimme Schneider, president of Twin Lakes Golf & Country Club’s board of trustees."
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Yes, and this is the choice that is facing thousands of condos and hoas across the nation. It will get much, much worse in the years to come.

Menifee extends traffic enforcement to private roads in gated community | Inland News | PE.com | Southern California News | News for Inland Southern California

Menifee extends traffic enforcement to private roads in gated community : "Enforcing traffic laws for the 2 miles of roadway inside the Tierra Shores tract should not take a substantial toll on the city's law enforcement resources, McElvain said.

'There's probably thousands of miles of road in the city of Menifee. It probably won't be much of an impact,' he said.

But if city officials were to extend traffic enforcement to all the private communities in Menifee, that could start to affect the Sheriff's Department's ability to effectively cover the 48-square-mile city."

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Thanks to Fred Pilot for yet another example of the HOA getting built into the structure of local government.

Allowing contractors' signs in their yards can save homeowners money - The Denver Post

Allowing contractors' signs in their yards can save homeowners money - The Denver Post: "Ever wondered how much of a discount your neighbor is getting from his roofer by allowing him to put a sign advertising the company on the front lawn for months on end?

Turns out it can be significant. Then again, sometimes there's nothing in it for the owner except a fight with the homeowners association."

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Why yes, of course. The entire neighborhood would turn into Tobacco Road if home owners were allowed to have signs showing who they hired to improve their property.