BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG: October 2008

Trinity Episcopal Church Galveston, Texas The following message is from Erin Toberman to her Tiki Island neighbors, but it contains information concerning FEMA that is important for all of us: Hello neighbors- I went to a Galveston Historical Foundation sponsored meeting regarding FEMA yesterday and I wanted to relay some of the information about FEMA and other disaster recovery resources of which I am aware.   I encourage every homeowner and renter to make sure to register with FEMA prior to the 10/13/08 deadline. Once registered, a FEMA representative will arrange a time to meet with you and review your property damage. FEMA will will want to see photos and any other available documentation regarding damage if you have already begun repairing and restoring your property. FEMA is coordinating financial resources with the Small Business Association. Once you have met with your FEMA representative, you will receive a SBA Loan Application package in the mail. Again, I strongly encourage you to complete the application by the deadline identified in your SBA Loan Information Packet.   Homeowners may borrow up to $200,000 with interest rates as low as 2.85% with up to 30 year terms to repair or replace personal property not covered by insurance. This loan may also be used to cover insurance deductible expenses. Renters may borrow up to $40,000 to replace personal property.   Homeowners and renters who receive a disaster loan application should complete and return it to SBA, even if they are not sure they will need or want a loan. If the SBA cannot approve your application, in most cases they will refer you to FEMA's Other Needs Assistance (ONA) program for possible additional assistance.   ABOUT FEMA: To be eligible for FEMA resources, you must register with FEMA by October 13, 2008.  Two FEMA/State Disaster Recovery Centers (DRC) are open in Galveston County to provide face-to-face assistance to those who suffered damage from Hurricane Ike. The Galveston Island DRC is located at the: Galveston Island Community Center 4700 Broadway Galveston, TX The center is open from 9 a.m. to 6 p.m. seven days a week, until further notice. The Mainland DRC, which opened Thursday, Sept. 25, is also open daily from 9 a.m. to 6 p.m. and is located at: Bay Shore Park 5500 West Bay Shore Drive San Leon, TX 77539 Residents are encouraged to register with FEMA before visiting a DRC. There are two ways to register: log on to www.fema.gov or call FEMA's toll-free number, 1-800-621-FEMA (3362), or TTY 1-800-462-7585. Both numbers are available 24 hours a day, seven days a week, until further notice. At the DRC, visitors can receive information about different types of state and federal disaster assistance. Get help completing low-interest loan applications from the U.S. Small Business Administration (SBA) for homeowners, renters and business owners. Inquire about the status of applications for federal assistance. Receive referrals to the American Red Cross and other voluntary organizations to help with immediate unmet needs. Learn cost-effective measures to reduce the impact of future disaster losses. Disaster assistance may include grants to help pay for temporary housing, home repair and other serious disaster-related expenses not covered by insurance or other sources. Low-interest disaster loans from the SBA also are available for residential and business losses not covered by insurance or other sources.   Residents should carry with them their identification, social security number, insurance information, proof of address and contact numbers when they visit the DRC to expedite the process. More information is available online at www.fema.gov or www.txdps.state.tx.us/demwww.txdps.state.tx.us/dem.   ALL AFFECTED BUSINESSES SHOULD REGISTER WITH FEMA! There is a special FEMA Business application center located in the College of the Mainland's Business Center. It is open M-F from 8am-5pm.   ABOUT U.S. ARMY CORP OF ENGINEERS BLUE ROOF PROGRAM - YOU MUST REGISTER BY OCT 13, 2008:   Hurricane Ike has left many Texas homeowners with damaged roofs. Repairs to these roofs can take time. In order to mitigate additional damage that could result from rain, homeowners can have plastic sheeting installed over the damaged area by U.S. Army Corps of Engineers contractors, in a program provided by the Federal Emergency Management Agency (FEMA).   The toll-free BLUE ROOF hotline number is 1-888-ROOF-BLU or 1-888-766-3258.   The Corps has established temporary Right of Entry collection sites in Galveston and on the Mainland. Anyone needing a temporary roof can go to the Galveston Justice Center, 601 54th Street, Galveston Island or to the Texas City Community Center, 2000 Texas Ave in Texas City to fill out a right of entry form. Hours of operation will be daily from 9 a.m. to 6 p.m. For more locations CLICK HERE. Here are some facts about Operation BLUE ROOF: To qualify for FREE TEMPORARY BLUE ROOF services, damage to the roof must be less than 50 percent and the area to be covered must be structurally sound for a crew to work on. In order to have plastic sheeting placed on their roofs, homeowners must complete a right-of-entry form to allow government and contract employees on their property. Right of Entry (ROE) centers for affected counties are staffed by Corps of Engineers employees. For the center location in your county, call toll free 1-888-766-3258.   The Corps is covering roofs in the hardest hit counties first. Be patient. The Corps will respond to every person who has completed a ROE as quickly as possible. In some instances, there may be a slowdown in installing plastic sheeting because of a national shortage. Homeowners may also cover their roofs with free tarps provided by FEMA and issued through their local governments. Residents need to monitor the media for information on where to pick up the tarps. The plastic covering and the tarps are temporary fixes designed to provide protection from the elements until the homeowner can make permanent repairs with a qualified professional.   The BLUE ROOF program is provided by FEMA through the U.S. Army Corps of Engineers in all counties that have been declared by FEMA for the Individual Assistance program. The need for Blue Roof services is undetermined because the survey is not complete.   THE GALVESTON ISLAND COMMUNITY CENTER:   The Galveston Island Community Center located at 4700 Broadway on Galveston Island is housing representative from local, state and national disaster, recovery and social services both governmental and private (except Texas Windstorm). FEMA, SBA, IRS, Jesse Tree, Red Cross, Salvation Army, Gal. Co. Health Services, etc. all have representatives there to answer question and assist with obtaining and completing applications.   VOTER REGISTRATION:   If residents left the area during the hurricane and won't return before Election Day on Nov. 6, they can still vote using an absentee ballot. To obtain an absentee ballot, voters should download a form at www.galvestonvotes.org or call 409-766-2200. You can also still register to vote through Monday, one month before Election Day. If they don't intend on returning to Galveston County at all, they need to register to vote at their new residence within the next week. People of voting age who have not registered can obtain a form at the county voter registrar's office, the Texas Secretary of State's office in Austin, many post offices, any public library, the Texas City driver license office, health and human services offices, some major grocery stores or online at www.votexas.org. Voting sites will also change. About half of Galveston's polling places aren't usable because of hurricane damage. Galveston County commissioners will discuss creating a modified list of polling places during their next meeting. The sites should be finalized in the next two days. Completed voter registration forms can be submitted to any of the county's four tax offices, county driver license offices - except for the damaged, closed Galveston office - public libraries or the secretary of state's office.   TIKI ISLAND NEWS WEBSITE:   I am working on improving the Tiki Island News website. I am in the process of adding information about resources, ways Tiki residents can help Galveston and improving the FORUM area. I have heard from a few people that they would prefer to have a true forum format available (like Bayou Vista's) and I should have that up and running by tomorrow morning. I ask for your patience as I make these improvements.  I would also like to thank everyone who has supported my efforts with compliments, contributions and encouragement.  I am looking forward to providing my wonderful neighbors with continued Tiki Island information and news. Please forward this newsletter and information on to Tiki neighbors and friends as I do not have everyone's email address and many residents do not have access to the internet. Feel free to email or call/text me (281) 468-0818 if you have any questions or concerns.     I am looking forward to seeing you on Tiki Island again soon!   Erin Toberman 1610 Tiki Drive erin@galvestonkidz.com c)281-468-0818

The Reverend Ronald D. Pogue, D.Min. Trinity Episcopal Church 2216 Ball Avenue Galveston, Texas 77550 409-765-6317 office 832-576-9019 mobile e-piphanies.com Trinity Website

The Reverend Ron Pogue is the Rector of one of the oldest churches in Galveston, Trinity Episcopal.  He and his staff have taken it upon themselves to be the source of information and hope for those who sustained losses from Hurricane Ike.  I am reprinting this with his permission.

I was a lifelong Galvestonian until I moved to Dallas,  I founded and operated the largest and most successful real estate agency on the Island for many of those years.  I maintain a close friendship with many there, and an sincere interest in their well-being.

 

 

BILL CHERRY, REALTORS

DALLAS

214 503-8563

1 800 314-7110

Our 43rd Year Selling Texas

I started out my formal business career as a banker.  And my graduate education zeroed in on finance and economics as they pertained to commercial banking.

Back in those days, banks and other credit lenders used to buy loans on cars made by car dealers, but there was an important caveat.  Those loans were bought with recourse.  If the loan to the individual fell behind, wasn't paid and required repossession of the car by the bank, the dealer was on the hook for the shortfall.

So naturally I've been wondering why the government's bail-out plan isn't being done with recourse on the lenders?  Buying the mortgage loans for cash to infuse cash back into the marketplace and thus unfreeze the credit market makes plenty of sense.  Taking potential risk and loss as well makes no sense at all.

So here's the question:  why aren't these loan packages to be bought with recourse? Why aren't the originating lenders being kept on the hook for the losses? 

Old fashioned banking was based on a lot of good sense.

BILL CHERRY, REALTORS

DALLAS

214 503-8563

1 800 314-7110

 

 

Years ago I had a friend who had graduated from the University of North Texas in Denton.  He had worked his way through college by cutting grass and doing landscaping.

By the time he graduated, he had such a big landscaping business there in Denton, that he figured he'd have to take a hefty cut in pay if he closed up shop and took a regular 9-5 job. 

For some reason, I heard my brain say to me, "Ask him who's his best customer?" and I don't know why my braind said that to me.  Nevertheless, I asked.

My friend  told me it was a Denton funeral home. 

A funeral home?!  What gives, I thought.

He went on, "Every morning unless it's raining relentlessly, we cut the lawn at the funeral home." 

I asked him why?

"Well, I asked the funeral home the same question when we got the contract.  The owner told me that his clients expected his funeral home to look spic and span and perfect every day and every moment of every day," my friend explained.  "When it's your family member's funeral, there are no second chances for the funeral home to look better the next time."

From that I extrapolated to my real estate business:   Every house gets a new yard sign.  Our offices are cleaned everyday and kept spotless.  We offer our visitors coffee, and we always make them a fresh pot.  Our yard?  It's mowed twice a week during the growing season and once a week during the fall and winter.  Our cars?  Washed everyday....sometimes twice.

What have you learned from other businesses that you've found are also letter-perfect for the real estate business?

 

BILL CHERRY, REALTORS

DALLAS

214 503-8563

1 800 314-7110

Our 43rd Year Selling Texas.

Pier 1 has been an odd duck since it was founded at least thirty years ago.  If you were around then, you'll remember that they sold baskets, incense, candles, cheap dishes and stuff that was primarily imported from the orient.

Their store fixtures were boards on top of cinder blocks.  And they were the darling of college students trying to look grown-up in a dorm room.

The company tried to continue the concept even after it got old and tired, and before long Pier 1 found itself bankrupt. A handful of Pier 1 executives and a bunch of dedicated employees got together, raised the money through loans and stock sales, and thus bought and recapitalized the company.

Longtime employee, Marvin Girouard, lead this new group.

The company was revived, the buyers sent back out to make the stores modern and competitive, and the company prospered again.  And then wouldn't you know, they, too, fell into the trap.  They let the concept get old and tired again.

Sales fell, under-performing stores had to be closed, and the executive team was changed out after a stock buyout.  Now they are in the process of reworking the company's finances.  They will be successful at this.  The plan is dynamic.  They have already sold the massive Pier 1 headquarters building in Ft. Worth and continue to negotiate the purchase of a competitor, Cost Plus.

Recently, Patty and I visited our nearby Pier 1 on Royal at Preston in Dallas.  What a resurgence!  If you haven't shopped Pier 1 recently, you must.  Meanwhile, watch your backside, Pottery Barn!

 

BILL CHERRY, REALTORS

DALLAS

214 503-8563

1 800 314-7110

Our 43rd Year Selling Texas

About this time last year I wrote a piece about the annual art hanging at NorthPark of the North Texas Business for Culture and the Arts.  In the main, I thought the exhibit was a bit on the mediocre side.

Today, I saw the 2008 art gathering that is titled "On My Own Time," and there are a number of exceptional pieces among the collection.  You must take time to see it.  It's on the mall concourse near Macy's.  It will be taken down on October 5th

There are thirty-tyree companies that are members of the NTBCA, and there are seven catagories of art participation, each with an amateur and a professional division.  Employees of the member companies are the participants, hence the title, "On My Own Time."

Remember, this year's exhibit concludes on October 5th.

 

 

 

BILL CHERRY, REALTORS

DALLAS

214 503-8563

1 800 314-7110

Our 43rd Year Selling Texas

 

 

 

Since 1911, the Gaido family has owned and operated Galveston's most famous seafood restaurant.  For at least the past half-century it has been on the corner of 39th Street and Seawall Boulevard.

Millions of meals are served there every year.  Generations of tourists come to the island every year for a dual-purpose -- to enjoy the beach and to eat at Gaido's. 

When Hurricane Ike struck Galveston in mid-September, the devastation was like nothing that has been experienced there since the famous 1900 Storm.  Fortunately early evacuation combined with the island's seawall saved most from injury and loss of life.

As soon as the storm passed, and the sky cleared and the gulf waters went from angry to sullen, with the help of generators, propane and other cooking accouterments normally associated with camping out, Gaido's opened its doors.  The first restaurant back in business. 

And Gaido's chefs immediately boiled up 1,000 pounds of fresh gulf shrimp, corn on the cob and the like, and the managers and other employees set up a free buffet on their parking lot. 

The hungry -- whether residents, homeless, or rescue workers --were invited to dinner.

And the Gaidos did it without fanfare or any expectation of gratituous publicity.  They are, after all, a Roman Catholic family that has always naturally followed their Catholic teachings.

Photo by Jennifer Reynolds

The Galveston County Daily News

BILL CHERRY, REALTORS

DALLAS

213 403-8563

1 800 314-7110

Our 43rd Year Selling Texas