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RIP TEXAS RADIO LEGEND CHARLES "BILL" WEAVER

Charles W. "BILL" Weaver
Charles W. "BILL" Weaver, formerly of the McLendon Stations and Cap Cities Broadcasting passed away Sunday, February 17, 2008 in San Antonio.

Bill graduated with honors
 from the University of Texas and served six and a half years in combat conditions in North Africa, France and German as a First Lieutenant and Platoon Commander under General George Patton in the US Army. He was awarded six Battle Stars and the Bronze Star for Heroism.  

For McLendon, Weaver served in managment roles at the company's stations in Milwaukee, San Antonio, Shreveport, Dallas and Houston.   Bill was sent to Houston to create and then managed KILT in 1957 until leaving for a managment position with Cap Cities in 1966.

He and the original PD, Don Keyes, were the major players that set off one of the most exciting competitive battles in radio history....KNUZ, the leader at the time with Paul Berlin and Buddy McGregor were challenged by KILT and such talents as Jim Wood, Chuck Dunaway and Russ Knight "The Weird Beard".

In the mid 60s, Bill pulled off a major 'coup' by traveling to England to personally meet with Beatle's manager Brian Epstein and convinced him to rearrange their US touring schedule to include an appearance at the Houston Coliseum.  In 2003, he was inducted into the Texas Radio Hall of Fame.

Bill was putting the finishing touches on a new book about the Kennedy Assassination and the book was/is due out this spring.  Bill Weaver was a good man and a friend to many of us who share an enormous amount of gratitude for his support and leadership.

Visitation will be Monday, February 18th from 5PM until 8PM and the funeral service Tuesday, February 19th at 2PM at Schertz Funeral Home, 2217 FM 3009, Schertz, Texas.   Memorial contributions may be made to First Christian Church of San Antonio, Second Baptist Church of Houston, Pasadena Playhouse, Pasadena, California, or a charity of your choice.
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REALTOR BILL CHERRY'S APPEARANCES WITH DOC GALLAGHER

When Patty and I first moved to Dallas and opened up shop, I heard a financial planner on KAAM-AM one Saturday afternoon.  The announcer introduced him as W. Neil Gallagher, Ph.D., but when the guy opened his mike, he said "This is Doc Gallagher.  I've helped more than 11,000 people retire safe, early and happy."

Now although you know me as a Realtor, my formal education is in economics, primarily international banking and equity investments.  So as soon as one of these birds says he's got answers, I default to, "Yeah, you've got answers, alright...answers for how to get their money from their bank account to yours."

Well I listened to the full hour, and Doc Gallagher was the real McCoy.  And then I got a copy of his book.   Would you believe it was published by the most noted academic text book publisher in the United States?  And in the book he addresses and explains everything one needs to know about financial matters, trusts, and the like.  He even talks about "when you have to parent your parents."

Well, I called this fellow Doc Gallagher, and I asked if I could meet him.  "Sure," he said. "Tell you what, meet me at the Double Tree Hotel tomorrow, and I'll buy you lunch." 

That's when I learned that Doc got his Ph.D. from one of the Ivy League colleges, Brown University, and he taught ethics at Texas Christian University before he began helping people with their financial planning. 

Doc invited me to begin attending his various seminars to answer real estate questions his guests have.  I love doing it.  And I always give away copies of the CD Doc and I did,  "A Realtor's Secret Weapons."  It's nearly the full hour from when he had me as a guest on his radio program.

I'll be with Doc twice this month. 

On Wednesday, February 20th at the Gallagher Financial Groups luxury offices at 3030 LBJ Freeway, Suite 700 from 6:30 to 9

You're Doc's guest for dinner, and then he gives a brief presentation.  You'll love it.  As soon as he finishes, he leaves...the guy leaves!  He doesn't ask you to sign up as a client or anything like that.  It's up to you.

On Thursday, February 28th, we'll be at the Four Seasons Hotel at Las Colinas, 4150 North Mac Arthur Boulevard, Irving, from 6:30 to 9. 

Remember, dinner is free, but you do need to make reservations because there are limited accommodations.  And believe me, these things always fill up! 

For Reservations: Call Jackie at 1-800-434-4 DOC.

 
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SUNDAY IN THE PARK WITH DALLAS REALTOR BILL CHERRY, 18th Edition

 Even though it's been a rainy cold weekend here in Dallas, joining you in the coffee shop gazebo across from the park for our regular Sunday after church visit is still a great way to start the week.

I woke up this morning thinking about Galveston, an island off of the coast of Texas where I was born and spent the majority of my life. As Easter approaches, so do the sun drenched beaches, the smell of the salty Gulf of Mexico waters and sand mixed with the odor of Coppertone sun tan lotion. 

That all suits me just fine because to be totally honest, I'm a shorts and t-shirt sort of guy.  I'd rather be trapping crabs, walking the shores in the moonlight to gig flounders, and sailing the pungent gulf waters than just about anything.

Along with the onset of spring comes fresh red snapper and flounder, lump meat from blue shell crabs, and pounds of boiled shrimp that were swimming the gulf waters yesterday. 

And that reminded me of a story about my Galveston friend Benno Deltz. I don't think I've ever told it to you. Draw close. You're going to love the ending.

Kirwin was a boys high school that was run by the Roman Catholic Christian Brothers. Dominican and Ursuline were the Catholic girls' high schools. After Hurricane Carla severely damaged the Dominican and Ursuline buildings, the diocese decided to close the two girls campuses and move those students to Kirwin.

And that's when Kirwin's name was changed to honor another of the deceased rectors of St. Mary's Cathedral, Fr. Dan O'Connell. The teaching nuns left and the Christian Brothers went the way of attrition. Lay people took their places. Students no longer had to tolerate the strict brothers and nuns who were noted for being relentless disciplinarians.

The last of the students who went through the original, traditional Galveston Catholic schools are now in their late fifties to middle sixties. In the main, if one were to study the lives of those whose schooling included Dominican, Ursuline or Kirwin, they would find the alumni's support of their religion as well as their work and social ethics to be far above average.

Anyone who went to one of those schools will almost always find a way to work that fact into every conversation where it will be presented with great pride, almost with a tone of aloofness. It's very definitely thought of by them as a pedigree.

Armed with his Kirwin education and a couple of years in the Navy, and married and with young children, Benno Deltz went to work with his life-long friend, Wayne Gaido. Together they got on the job training from famed Galveston restaurateur Mike Gaido, as they tried their hand at operating the old Surf Drive-In. They had renamed it Wayne's.

A couple of years later, Wayne's went the way of most of the drive-in concepts, and Wayne and Benno went to work full-time at Gaido's. Benno managed the front dining room, Wayne managed the Pelican Club.

Nearly twenty years later, with a new lease on a failed Seawall fast-food restaurant and what he had learned from his mentor, Mr. Mike Gaido, Benno opened his first restaurant. The kitchen equipment was mainly a pan or two he had scavenged, a used deep fat fryer he had scrubbed and then scrubbed again, and some kitchen utensils from Kmart. The dining room furnishings were make-shift and sparse.

And he had his Kirwin values and work ethic.

Within a few months, Benno was out of money and failure was definitely getting ready to deal him the final blow. By chance, a prominent Galveston businessman walked in with his accountant to have lunch. It was 1983.

"How're ya doin'?" the man asked before lunch.

"I'm out of money and if something doesn't happen quickly, I'm going to have to shut the doors," Benno found himself admitting for the first time, even to himself.

The man and the accountant had a big lunch of fried shrimp and oysters, seasoned just right. It was a lunch that would have made Mr. Gaido proud of his protege. Then the man and the accountant wished Benno well and left.

Within the hour the man called. "Benno," he said, "there is $50,000 waiting for you at the bank Go pick it up. It comes with only one string. If you make it, I want my money back. If you don't, you won't owe me a dime, and you won't have to worry about ever hearing from me again."

One time Benno was waiting for me in his office suite at the 10,000 square foot building he owns that houses his administrative offices and a catering facility that in both size and elaborateness of equipment, rivals that of a convention center. Thirty people work for him.

The interior was designed by the man known as the "architect for the presidents," Ed Eubanks. The furniture, primarily antique, is from New Orleans. Benno, himself, uses a small, highly polished Duncan Pyfe dinning table for a desk.

On the walls are photos of the famous and not so famous people for whom he has catered - huge parties and banquets around swimming pools, those inside massive Houston River Oaks homes, and just as important, the smaller and less elaborate wedding receptions of the island's children.

Meanwhile, Benno's starting place, Benno's on the Beach, is managed by his 47-year old son, Tracy. Diners there find the original recipes and the strict attention to detail that Mr. Mike Gaido taught Benno. And they hear the same music Benno has been playing there since the day he opened, the Platters' "My Prayer," the Penguins' "Earth Angel" and Ray Charles occasionally screaming to all who'll listen, "Hit the road, Jack!"

It's a package that presents a subtle homage to the time when Benno's values were being instilled in him by the Christian Brothers, when his mentor, Mr. Gaido, was teaching him to stretch a long string from table to table to make certain all of the plates and silverware were perfectly lined up, and, of course, to the man with the 50 thousand bucks who enjoyed standing back and watching the young man with the Kirwin ethic accomplish his dreams.

Tell me that isn't one of the best true stories you've heard in a long time.  Enjoy your week.  I look forward to seeing you again next Sunday here in the park,  Hopefully the weather will be more encouraging.  In the meantime, remember...

GOD Blesses!

Pen and ink drawing of Bill in the Park by Galveston artist, Carlotta Barker

Copyright 2008 - William S. Cherry

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REVERSE MORTGAGES - THE SUB-PRIME LOANS FOR THE ELDERLY

    REVERSE MORTGAGES, THE SUB-PRIME LOANS FOR THE ELDERLY
                      By Dallas Realtor-Broker Bill Cherry


Companies and people in the lending business never give up, and it's why strict banking regulations are as important now as the world found out they were when they analytically determined the reasons for the Great Depression. 


Nevertheless, those regulations have been relaxed, some by interpretation, others by changes.  Many, including me, think we are on the way to a new set of financial tragedies.

The sub-prime loans have ripped to shreds the financial present and future of thousands of young Americans, and the scars will remain with them for a lifetime.  For many it will be the same as the stories that are still told about a family that lost everything in 1929.  They will be told by subsequent generations.


But America has moved on, and now while we are scrambling to save ourselves, the money lenders are preying on the elderly through the magic the lenders promise will come to them from a reverse mortgage.  There are no serious attempts to make certain those borrowers fully understand the dynamics that can and will accrue to them and their family if they make such a loan.  Most find it akin to winning the lottery.


And there is apparently no penalty to a lender who makes such a loan to a person riddled with dementia, often times being represented by one of their grown children through power of attorney.


So frequently the cash proceeds from the reverse mortgage find their way into the hands of that person's children, who then piddle it away on a new car or to bail out their own credit card abuses.

Or maybe the elderly person makes generous gifts to his church or other charity.


So when the time comes for the borrower to use the money for his own subsistence, there's little or none left. The children, the church and the charity aren't expected to reverse their participation in the transaction.  The person is alone. 


And finally, frequently the borrower finds his health doesn't allow him to remain in his house until his death. Maybe it was only a year or so.  Now he has to move, say to assisted living quarters, and the house has to be rented.  But in most cases, his control of the house is only through a "life estate."  Can he, in fact, legally rent it, or must it sit there vacant until his death?


In retrospect, it becomes evident that a far better idea would have been to sell the house rather than borrow against it. 


Reverse mortgages are, unfortunately, the sub-prime tragedy for the elderly.  If this product is to remain a legal loan form, then it needs to be strictly regulated.

                                                        Copyright 2008 - William S. Cherry

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Sunday in the Park with Realtor Bill Cherry, 17th Edition

SUNDAY IN THE PARK WITH DALLAS REALTOR BILL CHERRY, 17th Edition (

 Thanks for stopping by for our weekly Sunday after church meeting here in the park.  It's so nice to see you.


I was just thinking about why Sunday trips to the park are so important to me.  It reminds me of when I was a little boy during the War years. 


After Sunday school, during the spring, my daddy would bring me here so I could swing, ride the merry-go-around, and go down the slide a zillion times. 


And then we'd go to the ice cream factory just about three blocks away, and get a freshly made ice cream sandwich.  We'd sit on the factory's front steps and eat that delight.  It was called Purity Ice Cream and even Texas' famous Blue Bell Ice Cream doesn't match up.


My daddy, William Wallace Cherry's, birthday was last week, and if he were still alive, he would be 99-years old, but I still think of him as the young man in the park with his little boy on Sundays after church.


RIP OFFS
.  OK, here's the latest.  A company called Reserve Solutions is pushing a debit card that lets you withdraw money from your 401 (k).  Of course the withdrawals are treated as loans against your retirement account.  Now let's see if the federal government is astute enough to put a stop to this, or will it be the next sub-prime mortgage.


PER STIRPES
.  These two Latin words frequently work their way into wills.  It's a method for distributing an estate. Per stirpes (which is Latin for "per branch") specifies that each branch of the deceased person's family receives an equal share of the estate.  Say a man dies and leaves three grown children.  His estate would be equally divided among the three.  If one of them had died, then his one-third would be equally divided among the deceased son's children.


PER CAPITA
.  Conversely, per capita is a method of distributing an estate where each child living at the time of the decedent's death gets an equal portion.  No provision is made for branches being beneficiaries. Consequently if one of his three children has predeceased him, none of his father's estate would pass to his children.


SCHWAN
.  There is one food delivery service that is reminiscent of the past when the milkman brought milk to the door, as did the egg man.  Schwan's Fine Foods wonderful products.  They come to our door every two weeks.  We are especially fond of their skinless chicken breast filets and their deserts. You can order by Internet, telephone or when the delivery man stops by.


RETIREMENT.
  The trick of retirement is figuring out how much net worth you must have to supplement your social security, pensions. Etc.  Here's a retirement income calculator.


PET MOVING EXPENSES
.  Fido's moving expense is totally deductible just like any other member of the family, if the move is related to a new job.  OK, maybe moving Fido isn't such a big deal, but what about your horse?


DR. KENNETH COOPER
. Dr. Cooper is known world-wide as the father of aerobic exercise.  He has an enormous facility here in Dallas.  He also oversees the manufacture of a number of vitamins and diet supplements.  The most amazing one is his fish oil capsule.  He's figured out how to take out the after taste and the burp.
 

Get on Dr. Cooper's health newsletter mailing list.  It's free.  Click here.


DIET
.  Oddly, a number of medical experts appear to be weighing in on the best diet for losing weight and remaining there.  It's 1972 Edition of Dr. Atkins' Diet Revolution.


Thanks for stopping by the park this Sunday.  I hope you'll find the time to join me again next Sunday.  In the meantime, remember....


GOD Blesses!



Copyright 2008 - William S. Cherry
All rights reserved

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BUD BUSCHARDT AND HIS DALLAS LEGEND

BUD BUSCHARDT AND HIS WORLD'S LARGEST COLLECTION - A DALLAS LEGEND By Dallas Realtor Bill Cherry

 If you've eaten at TGI Friday's or seen any nostalgia movies or TV programs, or if you've listened to the various music programs broadcasted by the ABC Radio Network, you've been touched by my friend Bud Buschardt.


 <<---Bud Buschardt


Bud has one of the largest catalogued record collections in the world.  There are more than 100,000 of those babies.  They are in specially built open cases that line almost every closet in his home plus every wall -- floor to ceiling -- in his home control room that overlooks one of the most Tony neighborhoods of Dallas.


It's from that enormous collection and that control room that Bud specially programs and supplies the music to them all.  And he has for years and years.


And it was from the big ABC building near Dallas' Galleria that for many years Bud produced  the programming for ABC's Starlight Network.  In addition to his enormously popular rhythm and blues program..the program that he hosted and loved,  "The Night Train," he was the on-air sidekick of DJ legends Joe Lucina and Eddy Hubbard.


Joe Lucina--->>


Bud was born in Houston in the early ‘40s, and he had the misfortune of coming with acute asthma.  The doctors said he needed to spend as much time as possible indoors.  His mom and dad  noticed that he was interested in music, records and wondered how record players worked.


<<---Eddie Hubbard


They bought him a small 78 rpm turntable, some records, and that started his passion for adding more and more and then some more, and saving them all.  He worked at radio and TV stations as an apprentice until he got his degree in communications from the University of Houston. 

Fate brought him to Dallas.


Here he worked with all of the Big Boys, beginning as a floor and cameraman at WFAA-TV.  But all the while his record collection was growing, and then growing. 


Bud's Control Room --->>


Bud retired a few months ago, but he continues as an adjunct professor of radio and television at the University of North Texas in Denton, and as the nation's best authority and source of recorded music.


Although we've known each other for a long time now, and we have our irregular monthly lunches, this past Wednesday was the very first time I ever got to see Bud's soul.  He invited me to come see, and he said I could bring my camera. 


"I don't worry about losing the collection in a fire.  At least the melted vinyl would fill all of the pot holes Mayor Miller didn't get around to filling on my street."


Copyright 2008 - William S. Cherry

All rights reserved


Dallashomes
  University Park Homes  Highland Park Homes Dallas Piano Tuners

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BUD BUSCHARDT AND HIS WORLD'S LARGEST COLLECTION - A DALLAS LEGEND (edit/delete)

 If you've eaten at TGI Friday's or seen any nostalgia movies or TV programs, or if you've listened to the various music programs broadcasted by the ABC Radio Network, you've been touched by my friend Bud Buschardt.


 <<---Bud Buschardt


Bud has one of the largest catalogued record collections in the world.  There are more than 100,000 of those babies.  They are in specially built open cases that line almost every closet in his home plus every wall -- floor to ceiling -- in his home control room that overlooks one of the most Tony neighborhoods of Dallas.


It's from that enormous collection and that control room that Bud specially programs and supplies the music to them all.  And he has for years and years.


And it was from the big ABC building near Dallas' Galleria that for many years Bud produced  the programming for ABC's Starlight Network.  In addition to his enormously popular rhythm and blues program..the program that he hosted and loved,  "The Night Train," he was the on-air sidekick of DJ legends Joe Lucina and Eddy Hubbard.

Joe Lucina--->>


Bud was born in Houston in the early ‘40s, and he had the misfortune of coming with acute asthma.  The doctors said he needed to spend as much time as possible indoors.  His mom and dad  noticed that he was interested in music, records and wondered how record players worked.


<<---Eddie Hubbard


They bought him a small 78 rpm turntable, some records, and that started his passion for adding more and more and then some more, and saving them all.  He worked at radio and TV stations as an apprentice until he got his degree in communications from the University of Houston.  Fate brought him to Dallas.


Here he worked with all of the Big Boys, beginning as a floor and cameraman at WFAA-TV.  But all the while his record collection was growing, and then growing. 

Bud's Control Room --->>


Bud retired a few months ago, but he continues as an adjunct professor of radio and television at the University of North Texas in Denton, and as the nation's best authority and source of recorded music.


Although we've known each other for a long time now, and we have our irregular monthly lunches, this past Wednesday was the very first time I ever got to see Bud's soul.  He invited me to come see, and he said I could bring my camera. 

"I don't worry about losing the collection in a fire.  At least the melted vinyl would fill all of the pot holes Mayor Miller didn't get around to filling on my street."


Copyright 2008 - William S. Cherry

All rights reserved


Dallashomes
  University Park Homes  Highland Park Homes Dallas Piano Tuners

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MORTGAGE COLLAPSE IS NOT REALLY THE PROBLEM

MORTGAGE MARKET "COLLAPSE" IS NOT REALLY THE PROBLEM By Dallas Realtor Bill Cherry


 Much is being made about the prospects of a pending recession.  Politicians, media and some business people and economist are making every effort to build a case that charges the mortgage lenders, whose credit underwriting parameters are thought to have been too lax.


In some effort to make citizens feel good, and at the same time in hopes of heading off a recession, congress has plans of sending every taxpayer a check.  It also is putting in place a mechanism to reduce the number of projected foreclosures.


While these are both important and need addressing, the real culprit, the one that is doing more to hurt the economy than the genesis of any other issue, is the enormous increase in the price of oil and gasoline at the pump. 


The federal government taxes every gallon of gasoline 18.4 cents.  On top of that, there are state taxes on each gallon with Hawaii and California being among the highest.  A gallon of regular gasoline in Dallas, without taxes, at today's price would cost  $2.41 rather than $2.78.


The U.S. would have a far better opportunity to miss a deep and linger recession if the federal government would dramatically reduce the gasoline tax, states would follow their lead, and further, the prices of gasoline were federally regulated.


Everything would adjust positively:  the price of oranges, cost of air travel, price of other goods and services that are someway intertwined with the price of fuel.


Here's a chart provided by the American Petroleum Institute:


Gasoline Taxes Assessed in 2002
(Source: American Petroleum Institute)

State

State
Excise

Other State
Taxes

Total State
Taxes

Total Federal &
State Taxes

Alabama

16

5

21

39.4

 

Alaska

8

 

8

26.4

 

Arizona

18

1

19

37.4

 

Arkansas

21.5

0.2

21.7

40.1

 

California

18

14

32

50.4

 

Colorado

22

 

22

40.4

 

Connecticut

25

4.7

29.7

48.1

 

Delaware

23

 

23

41.4

 

Dist. of Columbia  

20

 

20

38.4

 

Florida

13.6

16

29.6

48

 

Georgia

7.5

4.7

12.2

30.6

 

Hawaii

16

19.1

35.1

53.5

 

Idaho

25

 

25

43.4

 

Illinois

19

11

30

48.4

 

Indiana

15

3.1

18.1

36.5

 

Iowa

20.1

1

21.1

39.5

 

Kansas

23

1

24

42.4

 

Kentucky

15

6.4

21.4

39.8

 

Louisiana

20

 

20

38.4

 

Maine

22

1.5

23.5

41.9

 

Maryland

23.5

 

23.5

41.9

 

Massachusetts

21

0.5

21.5

39.9

 

Michigan

19

7.2

26.2

44.6

 

Minnesota

20

 

20

38.4

 

Mississippi

18

0.8

18.8

37.2

 

Missouri

17

 

17

35.4

 

Montana

27

0.8

27.8

46.2

 

Nebraska

24.5

0.9

25.4

43.8

 

Nevada

23

10.3

33.3

51.7

 

New Hampshire

18

2.6

20.6

39

 

New Jersey

10.5

4

14.5

32.9

 

New Mexico

17

1

18

36.4

 

New York

8

22.3

30.3

48.7

 

North Carolina

22.1

0.3

22.4

40.8

 

North Dakota

21

 

21

39.4

 

Ohio

22

 

22

40.4

 

Oklahoma

16

1

17

35.4

 

Oregon

24

 

24

42.4

 

Pennsylvania

12

14.7

26.7

45.1

 

Rhode Island

27

4

31

49.4

 

South Carolina

16

0.8

16.8

35.2

 

South Dakota

22

2

24

42.4

 

Tennessee

20

1.4

21.4

39.8

 

Texas

20

 

20

38.4

 

Utah

24.5

 

24.5

42.9

 

Vermont

19

1

20

38.4

 

Virginia

17.5

1.4

18.9

37.3

 

Washington

23

 

23

41.4

 

West Virginia

20.5

4.9

25.4

43.8

 

Wisconsin

28.1

3

31.1

49.5

 

Wyoming

13

1

14

32.4

 

U.S. Average

17.9

5.7

23.6

42

 

 

Copyright 2008 - William S. Cherry

 
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THE PHONE RANG AT WORLD HEADQUARTERS....

MY PHONE RANG AT WORLD HEADQUARTERS....
By Dallas Realtor Bill Cherry
 

 One recent evening I got a call from a woman.  She didn't identify herself, but her question was where she could go to find out what houses were going to be foreclosed.  I asked her if she thought hers was going to be one of them.


<<--BILL CHERRY REALTORS, WORLD HEADQUARTERS


"No, sir," she said, "I want to go buy a couple of them, fix them up and sell them."  She went on to tell me that she had seen a program on TV about how easy it is to do that and get rich, and had bought the fellow's books and DVDs.


I asked her if she had read the material and listened to and watched the DVDs.  "Sure have," she said.


I said, "After all of that instruction you didn't learn how the foreclosure process works and where to find out what will be auctioned and when?"


"No, sir."


"And did the instructor tell you that you would have to have cash or some other form of purchase funds acceptable to the trustee?  And did the instructor tell you that you had to deliver those funds if and when you won the auction?"


"No, sir."


"So do you have, say $100,000 in your savings account that you can use to cement the purchase if you win the auction?


"No, sir."


So at that point I asked her to give me a few minutes to explain how the process works.  Of course when I finished, she knew she had invested in a get rich course that was totally useless to her.


I want to know why these hucksters are allowed to make these claims?  One of them who sells a real estate investment course has been dead for at least ten years, yet there he is on TV advertising his course...even promising that the purchasers get to personally ask him questions by telephone. 

This is yet another lobbying project the National Association of Realtors could work toward getting stopped.  It would be one more way they could work toward rebuilding the dwindling reputation of Realtors.


Copyright 2008 - William S. Cherry

 

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STEPHEN SCHWARZMAN

 

STEPHEN SCHWARZMAN REVEALS SECRETS 

 

 

Today I want to recommend to you the biographical sketch of Stephen Schwarzman that was written for the February 5th edition of The New Yorker Magazine.  It was written by James Stewart.  You can read all eleven pages of it for no charge by clicking here.  New Yorker Magazine


<<<----STEPHEN SCHWARZMAN


Mr. Schwarzman, who is rarely in the public eye, along with a partner, founded an investment firm called Blackstone.  Blackstone invests money in somewhat exotic, but nevertheless, carefully selected and monitored securities. 

Mr. Schwarzman is apparently worth several billion dollars.


The primary reason I believe you should read Mr. Stewart's well-written and thought-out piece about Mr. Schwarzman is because it provides the formula for how to succeed. 

And while none of us who reads it may ever be able to accumulate huge wealth as a result of emulating Mr. Schwarzman's business ethics, nevertheless we will be able to eventually enjoy demonstratively more success and happiness if we do.

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SUNDAY IN THE PARK

SUNDAY IN THE PARK WITH REALTOR BILL CHERRY, 16th EDITION


 Thanks for stopping by for our regular after church visit here in the park.  This is the last Sunday before Christians begin observing the traditions of Lent.  In case you don't have them marked on your calendar, here are the dates:


Lenten Season Dates

February 6 - Ash Wednesday

March 16 - Palm Sunday

March 21 - Good Friday

March 23 - Easter Sunday


ESTATE SOLUTIONS
.  Many people, as they get older, sell their homes and the other real estate they own.  What's interesting is that in many states by doing that probate becomes no longer a requirement. 

Life insurance names the beneficiaries, bank accounts can be set up so that the balance of the account is payable to one or more beneficiaries upon the death of the accountholder (That's referred to as a "Payable on Death" clause), and finally, stock and other securities can be set up so that at the death of the owner, they are transferred to named beneficiaries, known as "Transfer on Death" clause.


DALLAS
SYMPHONY ORCHESTRA.  The symphony has two swell programs lined up for this month.  On February 7th and 10th, the Dallas Pops will bring Broadway singer Lisa Vroman to perform selections from "The Love Boat," "South Pacific," "It Happened in Brooklyn," "The Music Man,"  "Meet Me in St. Louis" and "My Fair Lady.


February 14th through 17, the full symphony will play Barber's First Symphony, Dvorak's Eighth Symphony, and Mozart's Piano Concerto No. 15.


Tickets for all performances, call 214 692-0203. Performances are at the fabulous Morton H. Meyerson Symphony Center in Dallas' Fine Arts District.


FIBER OPTICS.
 A representative of AT&T called a couple of weeks ago and offered us a plan that would bring the technology of fiber optics to our home.  Our television and internet services would join our land phone line.  The fellow said we would get many more channels, save about ten bucks a month, and they'd send us a check for $100 for allowing them to install it.  And the installation was free. 


It's all in but there are still some minor technical issues. All in all, we are quite impressed with the breadth of the service.


TRUE LAWYER STORY.
  My lifelong friend, Elaine Mitrovich, email this one earlier this week.  I saved it for you.  She says this happened in Charlotte, North Carolina.  
  

A lawyer purchased a box of very rare and expensive cigars, he then insured them against, among other things, fire.  Within a month, having smoked his  entire stockpile of these great cigars and without yet having made even his first premium payment on  the policy the lawyer filed a claim against the insurance company. 

In his claim, the lawyer stated the cigars were lost 'in a series of small fires.'  The insurance company refused to pay, citing the obvious reason, that the man had consumed the cigars in the normal fashion. The lawyer sued and WON!

Delivering the ruling, the judge agreed with the insurance company that the claim was frivolous. The judge stated nevertheless, that the lawyer held a policy from the company, which it had warranted that the cigars were insurable and also guaranteed that it would insure them against fire, without defining what is considered to be unacceptable 'fire' and was obligated to pay the claim.

Rather than endure lengthy and costly appeal process, the insurance company accepted the ruling and paid $15,000 to the lawyer for his loss of the cigars lost in the 'fires'.

After the lawyer cashed the check, the insurance company had him arrested on 24 counts of ARSON!!! With his insurance claim and testimony from the previous case being used against him, the lawyer was convicted of intentionally burning his insured property and was sentenced to 24 months in jail and a $24,000 fine.


 A TALE
.  I've told you before about the legendary '50s DJ, Bill "Rascal" McCaskill who was the first to bring rhythm and blues music to the attention of white kids in the Houston area.  His nightly program was called "The Night Train." 

At well past 80, he remains a cult hero to those of us who made up his nightly audience, and we're talking about tens of thousands.  Rascal lives in Victoria, Texas with Jerry "Blond Top" McCaskill, his wife of more than fifty years.


Rascal email this story to me early last week:


                                                The Centipede

This guy was lonely and he decided life would be more fun if he had a pet.

So he went to the pet store and told the owner that he wanted to buy an unusual pet.  After some discussion, he finally bought a centipede, (100-legged bug) which came in a little white box to use for his house.

He took the box back home, found a good location for it, and decided he would start off by taking his new pet to the bar to have a drink.  He asked the centipede in the box,  "Would you like to go to Frank's with me and have a beer?"

But there was no answer from his new pet. This bothered him a  bit, but he waited a few minutes and then asked him again, "How about going to a bar and having a beer with me?"

But again, there was no answer from his new friend and pet.  So, he waited a few minutes more, thinking about the situation. 

Finally, he decided to ask him one more time; this time putting his face up against the centipede's house and started shouting,


"HEY, IN THERE!  WOULD YOU LIKE TO GO TO FRANK'S PLACE AND HAVE A BEER WITH ME?!"

A little voice came out of the box - "I heard you the first time!   I'm putting on my shoes!"


Thanks so much for stopping by for our regular Sunday visit here in the park.  It brings me great pleasure. 

When you are considering buying or sell your home, I hope you'll use a Realtor, and when you're buying or selling in Dallas, I hope you'll consider using me to represent you.  I've learned a lot over my 43 years in this business.  It can be helpful having that experience on your side. 

Until next Sunday, remember...


GOD Blesses!


Copyright 2008 - William S. Cherry

All Rights Reserved

Man in the park pen and ink by Galveston artist, Carlotta Barker

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WANNA BUY A HOME NOW BUT ARE AFRAID?

WANNA BUY A HOME NOW BUT ARE AFRAID? DRAW CLOSE, I'M GOING TO HELP YOU DECIDE!  By Dallas Realtor Bill Cherry

To those of you who have been planning to buy your first home, and to those of you who long to sell your old one and move to a new one, I want you to consider fulfilling your dream today. 

Right now!

You may be assured that the sub-prime loan diabolical, the rising foreclosures, the worry about a possible recession, the rising prices of gasoline, and any other negative that is spewing from the mouths of news people, politicians and your friends in the neighborhood, at work and at church, are in reality nothing more than modest glitches to the housing values.

The overwhelming chances are that things are no different for you now than they were two years ago or will be two years from now.

What gives me such a pedigree to be able to confidently make these statements?  I've been in the real estate business as both a broker and investor for almost 44 years.  That's a longtime with thousands of experiences to draw from.  So come close and let's talk about this. 

As I see it, your questions - the questions you must ask and obtain satisfactory answers to are, quite frankly, no different now than they were for those looking to buy a home two years ago.

Here are the main ones you must ask yourself:

1.  Is the home I want in a neighborhood that is stable, and does the area have a history of stability?  Does it appear that stability will continue?  (The only word of caution:  Buying a home in a subdivision that is still occupied by the builder can be a bit more risky if there's a chance you will want to sell and move before the build-out is completed.)

2. How does its asking price compare with the prices of comparable homes that have sold in that neighborhood during the past six months?  Your Realtor can provide you with that information.  We call it a Comparative Market Analysis.  Study it carefully.  Drive by the homes that are used in the analysis and see if you agree they reasonably compare.

3.  Do I have sufficient resources to make the purchase with a straight-forward mortgage loan with straight-forward terms, terms that do not allow for modification?

4.  Can I establish a credible, definitive plan of action that I can and will take should some unexpected financial emergency impede my ability to comfortably make the mortgage payments and keep the homeowners insurance policy and taxes current?

After satisfactorily answering those questions for yourself, if history holds its course, it will not in your best interest to wait until real estate returns to being the investors' darling. 

Here's why:

5.  Mortgage rates are lower now than they will tend to be when the economy resumes being tempted by inflation.

6.  When the real estate economic cycle rises again, in general, home values will rise contemporaneously. 

7.  And, finally, and most importantly I suppose is that you and your family will not have had the opportunity to live in that dream home if you wait for bad news to return to good news.  To do that is, in my view, utterly silly.

So here's what I want you to do. 

8.  I want you to find a Realtor you are comfortable having represent you. Sign him or her up to exclusively represent you, then confide in him.

9. I want you to go to your bank or credit union.  There you'll ask if they make mortgage loans.  If they do, apply.  If they don't, get a recommendation from them of a mortgage company and then apply there.  All mortgage companies are not the same.  While many of my colleagues don't agree with me, I think you should select your lender without your Realtor's help.

10. When you get a loan commitment, I want you to discuss the matter with your banker or your CPA.  If you don't have a CPA, now's the time to get one.  Let them critique the commitment.

11. I want you to steer clear of foreclosed homes, "REO", banks like to call them.  The chance of error is far greater than the opportunity to buy the home below the perceived market.  That means stay away from the exotic.  (Unless they call you The Donald, you aren't, no matter how many of his how-to books you've read.)

If all goes well, now you're ready to find the home that fit Points1 and 2. Let your Realtor negotiate its purchase for you.

If you have questions or comments, or want help finding a wonderful Realtor, no matter what state or city, I'll be glad to help.  Email me at cherrysells@aol.com or call me at 972 380-7347.  Those services are free to you for the asking.

Call me in five years and let me know how glad you are you bought now rather than waited.

Meanwhile, I'll have some more thoughts on this tomorrow. 

Copyright 2008 - William S. Cherry

All rights reserved

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TONY BENNETT, MEET MY FRIENDS LAURA, HANNA, JANET & MR. JUSTICE THOMAS

Mr. Bennett -- Please Meet My Friends, Laura Ingraham, Hanna Rosin, Janet Perr, And Mr. Justice Clarence Thomas 

By Dallas Realtor, Bill Cherry

There are some especially interesting books that have just made their ways to the bookstores. 


I often give books to my special client-friends as a Brian Buffini-style "Pop By" rather than two lollipops with a cute card attached, or an American flag on a stick that was made in China, or whatever.


Here are some books worthy of your consideration along with some comments from me:


TONY BENNETT IN THE STUDIO - A Life of Art and Music.   
                                                      

As his new manager, Tony Bennett's son repackaged his dad a few years back and, by golly, he made him into a new singing sensation.  This guy's over 80, for goodness sakes.  Nevertheless, his concerts are sold out wherever he goes, and he's on the road most of the year.


Although I am a fan of his music, Mr. Bennett's stronger talent is as an artist -- a painter.  This new three-quarter size coffee table book explores his art, and includes narratives.  It's an extraordinary gift. 

You're going to be amazed.


POWER TO THE PEOPLE
by Laura Ingraham . Was #1 on New York Times' Best Seller List


I've followed Laura Ingraham's career since she started squishing out from "regular person anonymity" to finally become the most famous and listened to female political commentator in the U.S.

 She's one of the few people I would like to be friends with that I have yet to figure out how to meet and be friends with, if you know what I mean. 

I think that's because none of my friends know her, so I can't get an introduction.  (That's almost unheard of when you are I!) I just know we'd like each other because we are traveling the same wave length. 


Anyway, her new book is primarily a formula for the citizens to use to rescue the country from the politicians.  But that's not why I'm recommending it to you.  It's because of the chapters that chronicle how she discovered a place for God in her life, and how she has dealt with the death of her mother and her own battle with breast cancer. 

At "just past 40"she was baptized and confirmed as a Roman Catholic.