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This is true in my area, too. Homes in ESTABLISHED single family HOAs tend to hold their value better in all markets.
That is good news and that is why I bought all my properties in HOA communities....easy one... almost all communities over here are HOA communities and the rest is very very different to say it.....
I guess there are those who care less about their property rights and need their hand held in life along with the ability to nosey into others business and those who do not.
For those that do, the HOA is for you.
As for why someone would give a crap if someone mowed their grass or not is beyond me, its their property, not yours.
[quote=k350;4760445]I guess there are those who care less about their property rights and need their hand held in life along with the ability to nosey into others business and those who do not.
For those that do, the HOA is for you.
As for why someone would give a crap if someone mowed their grass or not is beyond me, its their property, not yours.[/QUOTE]
Than don't go and live in a HOA community since the people who want in there want to keep their lawns nice and are buying there thinking others will do to...People have an option not to buy in a HOA community and please stay away if you don't want to mow or pay some one to do for you.
It has nothing to do with being nosey, just walking out of your house and seeing nice properties and not car wrecks, grass that is 3 feet high, etc...specially in areas where the grass is growing so fast as in Florida, and getting snakes in that grass, etc.
Your landlord is responsible for giving you the rules and your compliance with them. Many HOAs will only communicate with the owner because there is nothing in it for them to tango with someone else's tennants.
It is curious when people who dislike the concept end up living in an HOA and bucking the system.
A you say, there are so many choices out there, why bother with an HOA, if it's not your cup of tea ?
Apparently you live in some part of the country where there's some subdivision built in the last 20 years that didn't have an involuntary HOA imposed by the county/city? In many parts of the country, the choice isn't HOA or no HOA, the homebuyer is limited to "which HOA".
Given that you are only one [s]election away from disaster there really aren't any of them that is safe. If nothing else perhaps they could protect their equity by putting as little down as possible on that HOA home - particularly in states like Texas where the laws (written by management company owners) are designed to protect extremely unscrupulous practices of the management company owners.
Be particularly wary of any declarant-controlled subdivision. One of the newer trends is to sell homes to people and then burden their property with a "transfer" fee payable to a declarant-controlled foundation. This transfer fee is already 0.5% of the sale price of the home in several places. You never "agreed to it" they simply impose it. I think Realtors should be required to disclose the dangers of purchasing in an HOA rather than simply hawking them. Homeowners have little remedy with an out-of-control HOA. Management companies and their affiliated attorneys often pillage the homeowners. The HOA is nothing but a feeding ground for these entities.
In our area you pay a one time transferable fee amount,when you buy or sell....I know nobody likes it but it isn't that much and it is to makes sure that everything is paid off before you get the title in your name.
In our area you pay a one time transferable fee amount,when you buy or sell....I know nobody likes it but it isn't that much and it is to makes sure that everything is paid off before you get the title in your name. I understand that realtors should disclose this and other fees....that is what their job is...and not waiting until abuyer asks about it, since the previous posters is stating that many people are unaware of this.
In our area you pay a one time transferable fee amount,when you buy or sell....I know nobody likes it but it isn't that much and it is to makes sure that everything is paid off before you get the title in your name. I understand that realtors should disclose this and other fees....that is what their job is...and not waiting until abuyer asks about it, since the previous posters is stating that many people are unaware of this.
I disagree about the purpose of the transfer fee. It's the title company's job to identify and handle (with the owner) any such outstanding amounts. The title company gets paid and in fact the owner typically pays for title insurance for the new buyer. Transfer fees are a newer phenomenon. The most egregious one is a fee imposed upon each resale of the property. In many places this money is imposed by the declarant and made payable to a "foundation". The purpose is to a) get more money from the owners, and b) avoid any scrutiny as to where the money goes. HOAs are not subject to open meetings/open records so it's hard enough to get access when you are a member. The foundation concept is to provide an additional barrier to access. You are not even a member and have no right to find out where the money is going.
Another type of transfer fee is the administrative transfer fee charged by the management companies. They are now trying to hit both the buyer and the seller for such fees. I think the HOA should pay for them because it is the HOA that is enabling the management company to charge them. There really isn't much of an effort involved with updating the name on an address.
There are other fees that these management companies are creating - all associated with the transfer. "Entry fee" is yet another example.
In our area you pay a one time transferable fee amount,when you buy or sell....I know nobody likes it but it isn't that much and it is to makes sure that everything is paid off before you get the title in your name. I understand that realtors should disclose this and other fees....that is what their job is...and not waiting until abuyer asks about it, since the previous posters is stating that many people are unaware of this.
Which subdivision do you live in that there is a transfer fee?
The title company does the search and is in charge of making sure clear title is conveyed.
Realtors do disclose the fees that need to be paid by a buyer. There are forms that actually need to be signed by the buyer stating what the HOA fees are. Not all HOA's have a transfer fee to be paid to the HOA, in fact I know of none in my area that have one.
It has been discussed before and it can be clearly seen now your blind hatred for Realtors. You were ready to post something but realized you didn't have a comment in there about Realtors so you added it and reposted.
LOVE HOA's!!! They keep the area clean and nice and property value up!
That's a myth.
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No HOA
