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Overcoming The Dark Side

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To understand a little more about how condominium ownership works, relate it to owning one piece of a pie. Everyone who owns a piece, shares ownership of the single pie plate and responsibility for its maintenance and upkeep. The cost of maintenance is divided among all the pie owners based on the day to day costs and reserve costs, or money set aside for future repairs.



If some of the owners are unable to make their payments and their units go into default and eventually, foreclosure, attempts are made to re-sell the unit. However, when new building assessments are completed and a large percentage of units are still sitting vacant, then it's up to the other owners to pick up the slack for maintaining the building. The result is an increase in condo fees. In some areas of South Florida, these fees are almost $1 a square foot and rising. This expense, along with a mortgage, is enough to scare away many buyers.

Unlike a mortgage where you can lock into a payment for 5 years, condo fees can go up every year depending on the vacancy rate and general state of disrepair in the building. The established condos with long-term residents are doing much better than many of the newer buildings still containing a number of developer-owned units.

A condominium such as The Mark on Brickell, had units listed for $600,000 a few years ago; those same units can be purchased for about $200,000. Sounds like a great deal? About 30 percent of the units in the condominium are in default which has resulted in condo fees of about $1,000 or higher. It doesn't take a large amount of vacancies to make a difference, in a smaller building in North Miami, just two foreclosures resulted in a maintenance fee of $1,500.

In addition, some banks are wary of financing mortgages for units in buildings that have a high percentages of foreclosures. Even if a buyer decides to take the plunge, financing may be a problem.

Condo vacancy rates may lead to higher maintenance fees, but this is usually the final result after months of budget strain due to overdue or delinquent payments. During this time, owners may experience a poorly kept building while the complex puts off small projects to save money in the interim. Often the reserve funds are depleted in an effort to make up the difference, but these accounts are left with dangerously low balances in the event of major repairs.

Janet O. Aronson of the Braintree law firm Marcus, Errico, Emmer & Brooks, which represents 2,700 condo associations in Massachusetts, New Hampshire, and Rhode Island, reports the firm has seen a 150 percent increase in fee arrears in the last two years. This coincides with the time frame that subprime mortgages were so popular. In 1992 a "super lien" law was adopted in favor of condo associations in the event of a foreclosure. This enabled them to collect up to six months worth of delinquent payments, and giving them "front of the line" priority over lenders. As soon as the condo sells, any outstanding fees are paid out to the condo association.

The effect of one person's debt weighs heavily on all the building's owners. It is essential that condo associations are meticulous about debt collection by containing the problem before it spills over and impacts all the occupants.
Overcoming The Dark Side
Bowling is one of the most loved participant sports ever. However, unknown to many people, bowling also has a dark side that silently lurks within the confines of every alley; waiting...

Bowling a Bomb

The dark force works in mysterious ways. While this tale could not be confirmed - probably due to the embarrassment of all involved - causing panic in the mist of crowded public transportation is not beyond it's capabilities.

The year was 1958 in Syracuse, NY. An unnamed bowler boards a public bus with her bowling ball in tow, headed for the local bowling center. The vehicle was almost full and our kegler was forced to make her way to the last seat in the rear, whereupon she placed her bowling bag, broken zipper and all, on the floor next to her.

Shortly afterward the bus driver was forced to slam on the brakes as a traffic light suddenly turned red. This of course caused the bowling bag to tip over and the ball to rocket out and roll down the aisle toward the front of the bus. Unfortunately a drunken passenger saw the black ball and shouted "It's a bomb! It's a bomb! Run!" Pandemonium instantly pursued, as screaming passengers fought for the exits, much to the embarrassment of our bowler who could only sit there and meekly say, "It's just a bowling ball."

What do you say to a Naked Bowler?

Rhonda Shear is probably best known as the star and host of USA Network's very popular Friday night movie series, "USA: Up All Night." For eight years Rhonda converted an entire generation into insomniacs as they became addicted to her tongue in cheek humor. She has often been named as "One of Television's Sexiest Stars", and has graced the cover of countless magazines and once appeared naked at a bowling alley in Milwaukee Ws.

The event occurred in 1993 when Rhonda contracted with Playboy magazine for an article and photo shoot. The editors felt that a bowling alley would present a uniquely different backdrop and some very interesting shots. However, the bowling center only closed down ten lanes for Rhonda and the photography crews, while leaving open the rest of the facilities. Consequently, a few lanes away, bowlers were exposed (literally) to Rhonda's considerable assets.

Rhonda was later quoted as saying "Here I was naked, doing splits, and ten lanes away, guys were bowling and not even looking. I mean, those were some very serious bowlers!" It was later discovered that the guys in question had been possessed by the dark force and rendered temporarily insane. Proving, yet again, that the force is much stronger than the male libido.

Pinched at the Alley

The judge at the preliminary hearing looked down at the demur defendant in front of him. She was still wearing her bowling shirt with the little pin attached that said, "Bowler of the Week". It was that honor that caused thirty year old avid bowler Amanda Guild to be standing in court that morning in 1990. The night before as Amanda was about to roll her first shot in the fourth frame, deputy Steven Kurkowski walked into the bowling center and directly up to her. When he showed Amanda his badge she just said, "Can we get out of here?", and calmly went with him.

What was the cause of Ms.Guild's arrest? Her performance the week before in a tournament at the American Lanes in Saginaw, Michigan. Amanda bowled so well that she was honored as "Bowler of the Week" with an accompanying story and photo in the local newspaper. U.S. deputy marshal Kurkowski, recognized the photo as the fugitive he had been after for months. Amanda was wanted as part of a major drug trafficking and money laundering operation in three states.

So why did she create such a high profile? Amanda too, had been possessed by the bowling dark force. Thus proving that it is even stronger than a criminal's desire to remain out of jail.
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About Author
Both Karrie & Dewitt Mosby Sr. are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Karrie has sinced written about articles on various topics from Real Estate, New Jersey SEO Services and Home Buyers Guide. Florida's hottest resort real estate market comes alive at Edkirkland.com. This website has everything you need to get started buying or selling property in the
Buying Second Hand Books
Also, always check the condition of the sea fishing tackle before taking out your wallet
 
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