Ah, Barbara Holland, how we love thee! Ms. Holland, who writes a column in the real estate section of the Las Vegas Review-Journal, complains about a recent guest blog that lists some of the complaints against her: One is that she gets paid for writing her newspaper column which is massively biased in favor of Homeowners Associations.
Ms. Holland, who describes herself as the “Dear Abby of Homeowners Associations,” will never deny that writing her newspaper column has made her very rich in the real estate business. Her ‘voluntary newspaper column’ is the kind of self-promotion that every entrepreneur dreams of. Whether she gets paid ten or twenty bucks per column by the newspaper is absolutely immaterial. Barbie Baby, you started piling up your millions in the property management and Realty business the day your first column was published. In the most corrupt real estate market in the nation, most honorable people would be scared to death to identify themselves as being the “Dear Abby” or “Dear Ann Landers” of anything HOA related.
But all of that is petty infighting and beyond the point. The issue at hand is the stupidity and short-term thinking of the Nevada Supreme Court which ruled that an HOA’s Super-Priority lien could extinguish the mortgage company’s first deed of trust. Bottom line: thousands of Nevada homes that are in crisis can be snatched up by real estate bottom feeders who grab homes for a couple thousand bucks at auction, and flip them for hundreds of thousands of dollars each. A windfall profit. A disaster for those in the mortgage business. And Barbie tells us, “No big deal.”
In fairness to Barbie Baby, here’s her latest take on the subject:
Now that “Dear Nevada Abby” has spoken, let’s look at some totally different conclusions made by far more astute financial folks at the Wall Street Journal, reporters like Joe Light (firstname.lastname@example.org). The link below sometimes asks for a registration, but any good Internet researcher can find a way around that.
Now, to you, Dear Reader. Do we believe in dear ‘Self-Interest Nevada Abby?’ Or the financial folks on the national scene who are actually talking to the nation’s lending institutions about all the impending consequences?