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Use Your Head on HOA Dues ...

By
Real Estate Agent with Associate Broker at Berkshire Hathaway Home Services Georgia Properties 256152

It still amazes me that people are so blind to what is going on around them. They bought a home in a subdivision with an HOA and annual dues. If the builder/developer is still hanging on and fighting the fight to stay alive, it would probably be wise for those people not to expect manicured common areas if there are still lots available. Forcing the developer into bankruptcy will only make matters worse in most cases.

I know of one case where the HOA dues are being stockpiled for the day the residents take over, but the residents are still complaining. There is a simple solution ... nothing prevents you from saving money by cutting some grass yourself instead of spending all your energy complaining. There is nothing wrong with trying to help others, and if that developer goes broke your real problems are only just beginning.

Dan Hopper
Dan Hopper - Gold Way RE - Westminster, CO
Colorado Broker / Referral Services

Very true, Ron.  Developers are having a difficult time with finishing up some projects, and this does include the HOA!  Also, another reason buyers need to be very cautious about looking to buy in such a project.

 

Jun 25, 2012 10:53 PM
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

HOA were designed to assure constant conflict. 

They have taxing power over the residents and think they can spend your money better then you can.

Developers may shunt the money to other needs...so althought the particulars may be different....beware.

Jun 25, 2012 10:53 PM