The Highlands Condominiums.(Hunters Green) what's wrong??? (assessments, ending)

[hshgowner]

Hello,

I am actually a current owner and I bought my 3 bedroom unit as it was in bank auction and I can't say enough nice things about the area. Yes, the traffic sucks but I still believe it is a very nice area to live. I travel an hour and half one way to work everyday and don't mind because I know my family is safe in where we live. I have a young child and there are many things to do within the community with him such as ride bikes down the trails, playgorund, soccer field, baseball field and etc. I have been there for a couple years and have not experienced the issues as some have stated. Granted when we bought our unit it was not appealing at all and we had to put about 15k-20k into to make it feel like home but we love it. With the new HOA Board they are doing their best in bringing the HOA fees down and increasing the value in the units but we first have the fix the problems from the past board members. I agree there are some updating in the community that needs to happen such as our gym, pavement within the parking lot, and pool area but it is all in the near future of enhancements. I hope this helps! Thank you!

[tom11011]

Originally Posted by hshgowner

Hello,

I am actually a current owner and I bought my 3 bedroom unit as it was in bank auction and I can't say enough nice things about the area. Yes, the traffic sucks but I still believe it is a very nice area to live. I travel an hour and half one way to work everyday and don't mind because I know my family is safe in where we live. I have a young child and there are many things to do within the community with him such as ride bikes down the trails, playgorund, soccer field, baseball field and etc. I have been there for a couple years and have not experienced the issues as some have stated. Granted when we bought our unit it was not appealing at all and we had to put about 15k-20k into to make it feel like home but we love it. With the new HOA Board they are doing their best in bringing the HOA fees down and increasing the value in the units but we first have the fix the problems from the past board members. I agree there are some updating in the community that needs to happen such as our gym, pavement within the parking lot, and pool area but it is all in the near future of enhancements. I hope this helps! Thank you!

Do you get an annual budget sent to you? How's the health of the association bank account? Is it a different association then the homes in Hunters Green?

Also, what is included with the $400 per month dues? Does that include water/sewer and cable TV/Internet?

Do you have any opinion as to why there are so many for sale? Seems like maybe 15 for sale.

Thank you.

[hshgowner]

We are currently in the process of rebuilding the association bank account. When I tell you the last Board Members screwed the community they definitely did that for sure. We have had a couple of assessments with a couple more due to come, for our unit it is about $700 every quarter at this time. But we honestly don't mind paying it if it means to update our community to bring value to our home. Remember, we are in the largest unit so our HOA fees and assessment fees would be slightly higher than yours. It is a different association then the homes that are in the community. Currently, the Board Members we have all live in the community and want the best interest for the owners.

I belive the money pays for the streets, lights, pool and landscaping maintenance, common areas and the gates at the 3 entrances, with guards at 2 entrances. The common areas include tennis and basketball courts, children's playground and a building with offices and a meeting room. I think there may be more. It also covers our trash as we have a huge dumpster onsite in our community but does not cover water, sewer, cable/tv or internet.

I also believe there are so many for sale because alot of the homes are either in foreclosure or bank owned. Hence why they are going for such a cheap price.

[tom11011]

Originally Posted by hshgowner

We are currently in the process of rebuilding the association bank account. When I tell you the last Board Members screwed the community they definitely did that for sure. We have had a couple of assessments with a couple more due to come, for our unit it is about $700 every quarter at this time. But we honestly don't mind paying it if it means to update our community to bring value to our home. Remember, we are in the largest unit so our HOA fees and assessment fees would be slightly higher than yours. It is a different association then the homes that are in the community. Currently, the Board Members we have all live in the community and want the best interest for the owners.

I belive the money pays for the streets, lights, pool and landscaping maintenance, common areas and the gates at the 3 entrances, with guards at 2 entrances. The common areas include tennis and basketball courts, children's playground and a building with offices and a meeting room. I think there may be more. It also covers our trash as we have a huge dumpster onsite in our community but does not cover water, sewer, cable/tv or internet.

I also believe there are so many for sale because alot of the homes are either in foreclosure or bank owned. Hence why they are going for such a cheap price.

My guess would be the high cost of HOA and the assessments are why people are selling. You figure those costs alone are probably more than a monthly mortgage payment.

I was thinking about buying one for myself and another as a rental property but there would probably be no way to have a positive cash flow let alone break even on the rental. Are you on the board by chance?

I know alot are short sales which leads me to believe to the banks don't want to forclose. Maybe I'll have a closer look and see if I can figure out which are bank owned, that way I know the dues, assessments, and taxes are all up to date without liens.

[hshgowner]

No I am not a Board Member I am just a homeowner giving feedback.

You could be right that people of selling because of the HOA and assessments. Personally I think the reason we don't mind the cost is because we own our home outright with no loan so the HOA of about $500 a month and an assessement here and there has not been a huge factor for us. As I stated, we have been there a couple years and to my memory we have only had 2 assessments with more to come this year unfortuantely due to our last Board Meeting from the damage that we were left in as mentioned previosuly.

Looking into buying a home that is bank owned would probably be your best bet as we did same and it worked out for the best. Best of luck!

[tom11011]

Thanks it was good speaking with you.

[hshgowner]

You are very welcome good luck in your search!

[WhyisIt]

I, too, am looking at buying one of those condos at Hunter's Green. It is so hard to decide. It is definitely not a "no-brainer". There are too many risks to consider. I agree that they grounds within the community are very nice and serene but the HOA is so high that it is hard to justify. I have been doing some calculations to see whether still a good deal to pay $35K for a place you need to add another $15K to make it feel home plus pay an additional $150 per month of HOA fees than other condos in the area (like Jade in Tampa Palms). OR just pay $60K today for a condo that is move in ready today and the HOA is just $200/month.

At the end, it is all about the numbers.

[WhyisIt]

By the way, thanks everybody for providing candid feedback, it helps all of us outside the community with decision making. Really appreciate it. Keep on posting the truth.

[HK380]

Hello All,

I own a one bed Condo at the Highlands at Hunters Green. However , I live overseas currently. I bought the Condo through a company called BRIC GROUP, which has offices around the world. They liase with me on behalf of the property management (CFRP, based in Altamonte Springs) In summary, I have owned it for exactly a year and recently I received an email from BRIC stating that due to upgrade work going on in the community, my HOA fees (currently $293/month) is going an additional $224 approx., for 6 - 12 months. Obviously I challenged them to give me more details than they provided and its been almost 2 weeks now and no further information except a couple emails apologising and asking for some time to get the information together for me. Can anyone please confirm that this 'upgrade' work has been going on?

Thank you,

HK