4 substantive changes TREC made to HOA addendum

On May 7, the Texas Real Estate Commission approved several changes to the Addendum for Property Subject to Mandatory Membership in a Property Owners Association (TREC 36-7, TAR 1922). Here are four of the more substantive ones:

• In Paragraph A, the form now reflects the recent statutory change that permits a buyer to obtain a resale certificate directly from a property owners association.
• Also in Paragraph A, the buyer’s option period to terminate the contract after receiving the subdivision information has been reduced from seven days to three days.
• New Paragraph E allows the seller to authorize the property owners association to release information to the buyer, so that the buyer can order the information directly from the property owners association.
• Language has been changed to make clear that even if a buyer and seller don’t want subdivision information from a property owners association, a title company is authorized to order it. And the title company won’t order the information until it receives payment from the party obligated to pay for the information under the contract. That’s to ensure closings aren’t held up while the title company waits for payment.

You can download a blank copy of the revised form and begin using it now. Use of the revised form will be mandatory starting July 1, and zipForm will update its library no later than July 1.

Stop & Reflect

As we near the end of the 1st quarter, it’s time to stop, reflect on what’s worked well for us in the past 3 months, and what needs to be changed or deleted from our business plans. Have you evaluated your current program for areas of improvement? Don’t wait until it’s too late to implement new programs that can see results this year.

Here’s a quote to carry us through the week … “Fulfillment begins with extended internal happiness, combined with a love of what you do, and a pride of accomplishment and achievement — the inner glow of self-assurance that creates an outward, peaceful aura.” – Jeffrey Gitomer.

Patience

Here’s a message from my favorite Warrior Mom, Katherine:

“Patience is not passive; on the contrary, it is active; it is concentrated strength.” ~ Edward G. Bulwer-Lytton

Patience can seem like, oh I don’t know, something weak.  Like maybe you’re giving up or deciding you just don’t care or accepting defeat.  Bulwer-Lytton describes it instead as something that takes enormous strength and focus, which makes me think of the Warrior Mom.  Warrior moms gather up their power into patience and determination to get through the ups and downs.  I like that thought.

Why Home Sales Will Rise This Year

A great prediction! According to the National Association of Realtor’s chief economist Lawrence Yun, the remainder of 2011 should finish strong for home sales due to the following reasons:
- More jobs.
- Rising stock market wealth.
- Rising apartment rents.
- Continuing high affordability conditions.
- Home values at historically justifiable levels.
Investors looking to hedge against inflation.
- Foreigners buying U.S. homes on the cheap.

The House That Built Me

I love this song. It reminds me why I love what I do every day for a living. http://www.cmt.com/videos/?id=1639757

Plan, Believe, Act!

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”  -  Stephen A. Brennan

San Antonio has “Next Gen” appeal

Four Texas cities are among the top places in the nation for young professionals to live and work, according to a list released yesterday by Next Generation Consulting (NGC).

On NGC’s “Next Cities” list, Austin ranked sixth among cities with populations greater than 500,000. San Antonio landed 17th and Houston 20th. Lubbock ranked 16th among cities with populations of 200,000 to 500,000.

To compile the rankings, NGC analyzed 45 categories for all U.S. cities with more than 100,000 people. Among those categories were earning, learning, vitality, around town, after hours, cost of lifestyle and social capital.

“Simply being the cheapest place to live, or the city with the most jobs, is not a long-term workforce strategy,” said NGC founder Rebecca Ryan. “The next generation is very savvy about choosing where they’ll live.”

http://www.mysanantonio.com/business/sa_ranks_high_as_place_to_work.html