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Scene From The Dallas County Foreclosure Auction: Signing On The Sidewalk

Building A Home, Remodeling In Dallas With David Feherty

He calls his  builder “Gucci Loafers”, which should have been David Feherty’s first clue that everything was going to be over budget. To keep us out of divorce court (which really crimps your building budget), my contractors must wear cowboy boots. But how can you not love a man who lets his lady build a home without a budget… XOXOXO Mr. Feherty. Hope this article doesn’t get you in as much hot water as the one you wrote for D.

PS: Some great remodeling stories in our newest issue of D Home…

Scene From The Dallas County Foreclosure Auction, Ctd.

When the trustee speaks, everyone listens.

Scene From The Dallas County Foreclosure Auction

Huddled around a trustee, must have some juicy props.

Dallas Police Removed From Bush Home Detail

Bushgate. Again. So says Zac Crain, but my question is this: how long does it take to build a darn tootin’ gate?

Real Estate Bargains On The Courthouse Steps: The Biggest Foreclosure Auction In Dallas Ever

It was my first venture to a Dallas County foreclosure auction, which takes place the first Tuesday of every month “on the courthouse steps”, as ordered by Texas law. And yesterday’s was billed as the biggest ever, some 6000 commercial and residential properties auctioned off for lack of payment. Honestly, way more fun than the fair. I met fascinating people, saw some familiar faces — Allie Beth Allman, Baxter Brinkmann — and learned a lot. Will definitely go back for more. This is where savvy agents know they can not only pick up great deals for clients but find out what the bottom line really is. If you’ve never been, and you love real estate, this is a must-see show. A few quick observations, then hit the jump.

One, I cannot believe how archaic the process is. A bunch of hot people standing outside the George Allen Courthouse, lawyers in suits  (low wool content, I hope). We could have used chair massages and Slurpee’s, and where’s the potty? At first we went to Lew Sterrett Frank Crowley, I pulled out the Handi-Wipes, but was re-directed to 600 Commerce after passing my handbag through the metal detector. Veterans tell me that folks didn’t like being at Lew Crowley for obvious reasons. So we get to 600 Commerce and like a sidewalk fair, everyone is  standing outside under the overhang, where I stayed remarkably comfortable for a July day in Texas. (Note to Dallas County: exterior ceiling fans.)  A few people did stop and ask if this was a fair or something. It was hot, but could have been worse.  Pity the poor trustee  who was off next to Tarrant County’s auction — it is held on the west-facing courthouse steps, outside, no overhang.

Foreclosure attendees consist of four basic food groups: newbies, like me;  investors (serious), also known as vultures; bank reps — I learned many of the banks buy back their own properties so they can re-sell them; people desperately trying to save their homes. The atmosphere is almost camp-like, since the savvy bring coolers and those fold-able camp chairs — one trustee even had a camp battery pack and fan. Paperwork is kept in rolling file cartons a la the Container Store. The American Dream is in full force — one person’s loss is another’s bargain.  Most folks are dressed casually save for the few dedicated attorneys in suits who stand out like hot, sore thumbs, but at least you can see them as they read off their prepped legal docs — same verbiage, different debtor: “Whereas on August 12, 1999, Michael Jackson, a single man, executed a deed for the sum of $500,000 in Dallas County…”  You cannot hear  very well as the buses, planes and sirens are out-screeching  words, so everyone leans in close, creating a huddle around each trustee. I saw one bid start at $80,000, the home sold for $214,000. (Interesting, the guy waiting to about $150K to jump in.) The bidding on some properties  started at a dollar. One Lakeridge property owned by Bank of America started at $24,650, and I wrote about a four million dollar property out there. Someone cleaned house on a $5 million dollar downtown commercial property they snagged for $3 million. The blood thirst for bargains was thick: I was back at the silent auction table at a charity fund raiser where an aggressive broad planted herself in front of the sign-up for lunch with Nolan Ryan at The Ballpark, or at Filene’s Basement with La Perla fifty cents a pair.

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Former Dallas Morning News Advertising Representative Sheds Light On Motivation Behind Online Real Estate Partnership

Last week, we had the opportunity to speak with a former Dallas Morning News real estate advertising sales representative who shared some inside details on how the online partnership between A.H. Belo and Sawbuck Realty may affect their ability to sell real estate advertising with other Dallas brokerages and why the choice was made to move toward a new business model.

The sales rep, who asked to remain anonymous because of a confidentiality agreement with The Dallas Morning News, decided to “pursue other options” after A.H. Belo announced it’s funding of an online real estate brokerage (Sawbuck Realty) from the dallasnews.com website.

“I feel they screwed over us — the account executives — because they screwed over our clients,” said the sales rep.

The source explained that while times had been tough for the past year — they hadn’t received a commission check since 2008 — bringing in and openly siding with an outside competitor like Sawbuck Realty would make it nearly impossible to sell real estate ads.

“All my clients are going to abandon ship soon,” said the sales rep. (more…)