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What’s going on with River Oaks FHA Status?

What’s going on with River Oaks FHA Status?

Oak Lawn, River Oaks

Navigating Changes at River Oaks and Loss of FHA Approval

In recent developments that are crucial for both current and prospective residents of River Oaks, the community has experienced a significant shift— the loss of its FHA approval as of September. This change raises concerns and questions about the future financing options for buyers and the overall impact on property values within the community.

Earlier this year, aware of the impending expiration, I reached out to Barbara at Worth Ross Management, highlighting the urgency of renewing the FHA status to maintain the health of our already lackluster market and assist potential buyers. Unfortunately, despite the proactive approach, the FHA approval lapsed.

Following up a few weeks later, I learned from Barbara that the certification had indeed expired, which may complicate the purchasing process for future buyers who rely on FHA loans for affordable entry into homeownership. She wrote me the following email

It’s odd she mentions that she (we) “cannot lie”, who was saying anything about being dishonest? Anyway…

The Impact of Losing FHA Approval

The expiration of FHA approval at River Oaks could potentially deter a segment of buyers, affecting demand and possibly even leading to a (further) depreciation of property values at the complex. This scenario might also prolong the time listings remain on the market, thus continuing to affect the overall vibrancy of real estate transactions within River Oaks.

Moving Forward

The need for re-establishing FHA approval is evident. It requires a coordinated effort between the homeowners’ association, management company, and residents. I am committed to facilitating discussions and actions that will help regain our FHA approved status. The aim is not only to enhance the marketability of River Oaks but also to ensure that it remains a welcoming and accessible community for all potential homeowners.

Upcoming HOA Meeting:
A Critical Discussion on FHA Issues and the Election of New Officers

We have an important Homeowners Association (HOA) meeting scheduled for December 10th at 6:30 PM, to be held at our community clubhouse. This meeting is crucial for all residents, as we have significant topics to address that will impact the future of our community.

Importance of FHA Approval

One of the primary topics on the agenda should be the recent loss of our FHA approval. This issue affects not only the marketability of our homes but also the ability of potential buyers to secure affordable financing options. During the meeting I hope we will discuss the steps needed to regain our FHA status and explore how we can prevent similar oversights in the future. Your input and insights will be invaluable as we navigate this challenge together.

HOA Leadership Elections

Additionally, this spring we will be holding elections for the HOA President and Vice President positions. The leadership we choose will directly influence our community’s ability to handle critical issues, such as the FHA approval, and will steer the future initiatives of our HOA. It is vital that we all participate in these elections to ensure our community is led by representatives who truly reflect our needs and values.

Why Your Attendance Matters

Your participation is crucial. The decisions made at this meeting will affect every resident of River Oaks, from property values to community standards and beyond. This is our opportunity to make your voice heard, whether it’s by your future vote  on leadership, expressing concerns, or contributing to the strategy to regain our FHA approval.

Meeting Details

• Date: December 10

• Time: 6:30 PM

• Location: Community Clubhouse

Please mark this date on your calendar. We encourage all residents to attend, as your feedback and upcoming votes are essential in guiding our community forward.

Engagement in our HOA is not just about attending meetings; it’s about shaping the environment we all call home. Let’s come together as a community to address these critical issues and ensure a prosperous future for all residents of River Oaks. I look forward to seeing you there and working together to enhance the vibrancy and livability of our community.

River Oaks Condo with Washer & Dryer – Completely Updated

River Oaks Condo with Washer & Dryer – Completely Updated

Featured Listing, Oak Lawn, River Oaks, Selling

4837 Cedar Springs Rd #121 Dallas, TX 75219

Experience refined living in this exquisitely renovated one-bedroom, one-bath condo, ideally located on the first floor of the gated River Oaks Condominiums in vibrant Oak Lawn. The condo boasts an updated kitchen and bath, complete with all essential stainless steel appliances in the kitchen and a in unit full size WASHER & DRYER.

Large windows fill each room with natural light, creating a warm, welcoming atmosphere. Savor the convenience of garage parking offering two spaces, and a huge walk in closet. Unwind on your private balcony with direct assess to the pool.

River Oaks is situated just minutes from the Medical District, Katy Trail, Uptown, downtown, and major all major highways - and is just around the corner from the Dallas North Tollway entrance. Relish easy access to grocery stores, great shopping, thriving and iconic nightlife, and abundant dining. The location is outstanding and a perfect fit for your lifestyle.

River Oaks offers more than just a place to live; it’s a fantastic investment opportunity and a great place to call home.

Possible DOWN PAYMENT ASSISTANCE with our preferred lender.

Floor Plan for 121

Affordable 2 Bedroom at River Oaks: An Unbeatable Price

Affordable 2 Bedroom at River Oaks: An Unbeatable Price

Featured Listing, For Rent, Oak Lawn, River Oaks

4845 Cedar Springs Rd #370 Dallas, TX 75219

Peaceful Tree-top River Oaks Condo with a Balcony Overlooking Cedar Branch Creek

Freshly painted and featuring a brand-new refrigerator, built-in microwave, and dishwasher, along with a newer stove (about 4-5 years old). The entry, living room, dining area, bathroom, and kitchen all boast new flooring. This unit is so cozy and well-located that the previous tenant lived here for 12 years!

Now updated, deep cleaned (three times), freshly painted, and re-floored, it's vacant and move-in ready. Located in a gated community with ample parking (including some covered spaces), a dog run, and a scenic walking path by the creek, the property is beautifully landscaped with a natural feel.

Additional amenities include a pool, BBQ pit, and club room available for lease for your special occasions. The bedrooms feature walk-in closets, and the primary bedroom includes an ensuite bath. Conveniently, the laundry room is just steps away, and AT&T fiber internet is available. This unit is tucked in the back of the complex, away from Cedar Springs traffic, offering peace and quiet, this really is the most peaceful and desirable building at River Oaks.

Utilities are managed by Minol and typically average around $120 per month. Minimum 620 credit score, 2 years of solid employment and 2 years of excellent rental history required. Application fee is $50 and deposit is $1,450

A Fantastic Opportunity at River Oaks

A Fantastic Opportunity at River Oaks

Oak Lawn, River Oaks

4859 Cedar Springs Rd #235 Dallas, TX 75219

Just steps away from the garage parking and fabulous pool, unit 235 at River Oaks is a wonderful place to call home!

River Oaks isn’t just about the splendid view of our tranquil duck filled creek; it’s a complete package of amenities. Enjoy gated and covered parking, dive into the oversize swimming pool, host gatherings in the clubhouse, or savor a barbecue with friends in the outdoor grilling area.

This iconic retreat provides an unparalleled lifestyle in the heart of Dallas and offers everything you could need within the bubble of Oak Lawn, Uptown and Turtle Creek communities.

This unit, condo 235, is available for the first time in 20 years and features a groove-tastic avocado green electrical range and vent-a-hood!!

Joking aside, this is a great find for someone wanting their first time home at a super low price and willing to put in some elbow grease / sweat equity, or an investor looking to remodel and flip. This deferred maintenance condo needs updating; however, the HVAC is only 10 years old, icy cold, and a new electrical panel has been installed.

The location is fantastic and just minutes away from the Medical District, downtown, tollway, all highways and everything that our in-town neighborhood has to offer. Great shopping, iconic nightlife and conveniently located grocery stores also make this opportunity very attractive. The recent special assessment will be covered at closing.

We are sure the price will bring a flurry of wholesaler and flipper inquiries, please know we are aware this is the best priced property within 4 miles. Written offers only, no “assume the sellers mortgage” letters of intent or seller financing, thanks!

2 bed 2 Bath Condo – Excellent and Updated at River Oaks in Oak Lawn

2 bed 2 Bath Condo – Excellent and Updated at River Oaks in Oak Lawn

Featured Listing, Oak Lawn, River Oaks

ZERO DOWN PAYMENT ZERO CLOSING COSTS AVAILABLE!

Information on the ZERO down payment ZERO closing costs offer are in the blue tab labeled ZERO below the photos. 

4845 Cedar Springs Rd #171, Dallas, TX 75219

Tranquil Creekside Living in the Heart of Oak Lawn

Let’s talk about this creekside view.

Visible from the living room and both bedrooms, this stunning, peaceful view of the creek will make you feel miles away from ordinary. Imagine lounging on the porch, hearing the gentle flow of water and the occasional quack of ducks, it’s the ultimate intown retreat.

The plantation shutters in the living room and bedrooms perfectly frame this serene view, creating a natural focal point. The condo features meticulously crafted hardwood floors, genuine wood, not vinyl plank, and thoughtful details like 3-inch baseboards, all designed with intention.

While you can easily purchase premium materials and install them in any condo, what can’t be bought at Lowe’s or Home Depot is this truly unique, tranquil and one of a kind creekside setting.

The kitchen showcases one inch granite countertops, as in both baths, and updated recessed lighting on a dimmer in the living area space. Two beautifully renovated bathrooms of 5 star hotel quality offer an exceptional space to rejuvenate your soul, while fresh paint throughout enhances the sense of brightness and warmth.

Security and convenience are also paramount. A Vivint smart system includes a doorbell camera, smart locks, and sensors, ensuring peace of mind at home. Further Vivint conveniences are the ability to control the thermostat, select lights and deadbolt from the touch screen mounted on the wall or your phone.

Laundry facilities are conveniently located down the hall, accessible via the easy-to-use Go App. This home’s unique location, combined with its premium features, provide an unmatched lifestyle opportunity.

Some furniture is negotiable, and the sellers will cover both special assessments for a smooth transition into your new home.

Details on the offer

  • Must be a full price offer
  • Must use our preferred lender
  • Must apply and be approved for down payment assistance (we are help to help every step of the way)
  • $2,500 in earnest money, $100 for 3 day option period

Being offered by sellers

  • Seller will contribute $7,499 towards buyers down payment and closing costs
  • Seller will help buyer via our perferred lender apply for a federal down payment assistance program that offers $5,000 and does not have to be repaid (some conditions apply).
  • Seller to pay for inspection, appraisal and title work
  • Seller to pay all special assesssments to HOA
  • Seller to pay all broker's fees
  • Seller to offer Home Warranty

If the buyer is approved for the DPA, that would give them $12,499 towards down payment and closing costs, the earnest money would most likely be returned to the buyer at close.

If not approved for DPA there is still a very good chance it would not cost more than getting into a lease to purchase this fanatstic condo.

This is an incredable opritunity.

River Oaks 171