OC home prices hit 665k median, expected to go higher (Santa Ana: real estate, rentals)

[taimaishu]

He himself rent out his HOA properties. I doubt he would live in one. lol

Although HOA homes (condo/townhouse) are usually cheaper than SFH, I still would never live in one. No space, no yard, no parties, no parking for more than 2 visitors

HOA fees is just another word for tax.

[Finper]

HOA fees are a lot things but a tax or unfortunately a tax deduction is def not one of them. I pay 320.00 dues every month. Only once have they paid for anything that went wrong in my condo when a tree root invaded a pipe. I like most condo owners have a like hate relationship with HOAs... mostly hate

[Lallo]

Originally Posted by Des-Lab

Let the good times roll.

If you aren't already in a place, you MUST buy NOW or you will be priced out forever.

You don't want to end up an angry disgruntled renter your whole life now do you? Hurry. Pick up that phone or get on line and get in touch with a realtor NOW. Time is of the essence here.

Sounds like a realtor to me... the market goes up, then comes down. It will happen again it's just a matter of when. I'm on the fence myself about purchasing. Mostly due to my oldest starting school and not wanting to move her around so much once she starts making friends. If I had to guess, I say in the next 2-3 years the market will turn. Prices may go up, but I don't think by much. It's starting to feel like 2006 again.

[taimaishu]

Originally Posted by Finper

HOA fees are a lot things but a tax or unfortunately a tax deduction is def not one of them. I pay 320.00 dues every month. Only once have they paid for anything that went wrong in my condo when a tree root invaded a pipe. I like most condo owners have a like hate relationship with HOAs... mostly hate

It's a tax. HOA citizens pay the "tax" to get services in returns. And like taxes, most funds aren't used for services. But for other crap.

[expatCA]

Originally Posted by taimaishu

It's a tax. HOA citizens pay the "tax" to get services in returns. And like taxes, most funds aren't used for services. But for other crap.

And the lovely state government run by the left allows that tax to go up 20% a year in an HOA without the vote of the menbers. Imagine if State Income taxes did that. Humm, wonder when they will see the potential?

[CaliRestoration]

Originally Posted by expatCA

And the lovely state government run by the left allows that tax to go up 20% a year in an HOA without the vote of the menbers. Imagine if State Income taxes did that. Humm, wonder when they will see the potential?

But HOAs are considered libertarian by some who post here.

[payutenyodagimas]

just save a lot of cash so that when the downturn comes you can take advantage of it

[taimaishu]

Lets say a typical rent is $1500. HOA tax is $320. Total monthly cost is $1820. That's a 21.33% tax. And here they are crying about a 9.3% state income tax. lol

[Finper]

renters don't pay HOA owners do.

[Electrician4you]

Originally Posted by Finper

renters don't pay HOA owners do.

Maybe not directly but for me the HOA fees are accounted for in the total rent amount. I don't much care what people think about HOAs. Some like them some don't. For me having rentals in a HOA has been very profitable. Since they are rentals HOA fees are deductible. I believe Schedule E as "other". When I lived in a HOA and as a primary residence I could not deduct it. But I also had a new roof on the house and the garage, termite repairs on exterior wood, New paint, landscape, pool and jacuzzi, pool house, gated access, resurfaced asphalt street, and no clown houses or junk clapped out cars on blocks staring at me.


As far as parking some have restrictive parking rules and others don't.