hoa: When HOA Directors Complain That a Short Sale is Priced Too Low - 10/20/17 03:58 AM
Fact: Short sale properties sell for less than market value.
Fact: Neighbors do not like when a home sells that can lower the comps of the neighborhood.
Fact: HOA Directors by job definition have their noses in other people's business.
Fact: HOA Directors sometimes complain that a short sale in their community is priced too low.
Fact: The seller needs relief from the mortgage payments and the HOA fees and needs the property sold. In a short sale, usually, the price is not the seller's main concern.
So how does the Realtor explain the lower price when accosted by the HOA Directors?
Fewer buyers will be … (9 comments)

hoa: Is Your HOA Destroying The Value of Your Home? - 03/16/12 11:21 PM
Homeowners should make a point to understand what their Home Owners Association (HOA) is doing, especially in arena of dealing with salvaging fees from homeowners in foreclosure.
ZERO Recovery Forever Instead Of Thousands Now
Some Homeowner Associations prefer to get ZERO dollars if the house goes to foreclosure rather than thousands of dollars NOW in a short sale.As a short sale Realtor, I have gotten foreclosing lenders to pay thousands of dollars to cover settlements on large delinquent HOA balances. However, some HOA's have all-or-nothing "no-settlement" policies. The HOA wants every cent including legal fees or let the house go to … (29 comments)

hoa: Why It’s Getting Harder To Short Sale Condos In Louisville, KY - 09/01/10 12:34 AM
A subtle chain of events that is impacting the sale of condos.
FHA is removing many condo developments from its approved list of condo complexes. If the condos are in a price range that buyers will typically rely on FHA financing, removal of FHA approval will also remove many of the buyers. FHA has put controls in place so not to concentrate too much risk in any condo development. One of their controls pertains to limiting the number of FHA loans allowed in the development. As soon as the limit is reached the development can be pulled from the approved list.
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