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Keep in mind that the covenants are just the RULES for the neighborhood. There are also county and state regulations (rules) that you must obey. Just because you don't have an HOA doesn't mean that you don't have some rules.
I know many people don't want an HOA but when I show homes to buyers, I'd say 9 out of 10 WANT AN HOA.
Vicki
That’s a higher percentage than I expected but not by much. In the harsh economic reality of these troubling times sincere homeowners are looking for every possible avenue to protect the investment they’ve made in their home and HOAs help. This is especially true if for some unforeseen reason like a job transfer or family illness a quick house sale is necessary. No one is going to argue that a clean well kept house in a similarly appointed neighborhood is going to sell faster and at a higher price than an eclectic home with an overgrown yard in a rundown subdivision.
Mostly older neighborhoods. NC state law mandates that every new development have an HOA to manage required storm water facilities.
Remember though that it's not just "HOAs" that people get concerned about - it's often more the restrictive covenants that apply to the proprty (and then the HOA that enforces them). You can have one without the other, although they often go together.
I beg to differ. To me it goes to a very simple premise:
In a HOA you really don't own your property. The HOA does.
That's why they can tell you what to do with it, and slap liens on your or even foreclose on you if you don't do what they say. It's very much like how a landlord would behave towards a tenant.
So you've put yourself 10's perhap's even 100's of thousands in debt to buy a property you don't even own. How does that sit with you?
So squabbling over the convenants is really just noise around the central issue, all you are really complaining about is what how restrictive your landlord is to you.
Whoever thought of the racket to create cookie cutter neighborhood and have people spend thousands of dollars to buy a house in it, and then have them sign over implied ownership to a HOA really had base human psychology down pat.
I beg to differ. To me it goes to a very simple premise:
In a HOA you really don't own your property. The HOA does.
That's why they can tell you what to do with it, and slap liens on your or even foreclose on you if you don't do what they say. It's very much like how a landlord would behave towards a tenant.
So you've put yourself 10's perhap's even 100's of thousands in debt to buy a property you don't even own. How does that sit with you?
So squabbling over the convenants is really just noise around the central issue, all you are really complaining about is what how restrictive your landlord is to you.
Whoever thought of the racket to create cookie cutter neighborhood and have people spend thousands of dollars to buy a house in it, and then have them sign over implied ownership to a HOA really had base human psychology down pat.
I don't even care to live in a neighborhood with an HOA, but this is just silly.
I guarantee you, with or without an HOA, I own my home.
An HOA would have to line up behind the bank and the town and the IRS to stake a claim to my ownership.
What many people who rumble about HOAs fail to address is that many HOAs have no real power, that the residents don't even know who their property manager is, that most people get through life just fine, day to day, year to year, with or without an HOA.
Painting them as a subervision of human decency is ludicrous.
Whoever thought of the racket to create cookie cutter neighborhood and have people spend thousands of dollars to buy a house in it, and then have them sign over implied ownership to a HOA really had base human psychology down pat.
I’d agree except for the fact that when I sold my last place which was in a development with covenants all the proceeds from the sale were mine to keep. In fact, since my house was in such a desirable community, thanks to those covenants and a HOA that rigidly enforced them, my house sold the day before it was scheduled to go on the market.
The guidelines in that neighborhood were never any inconvenience to me since I’ve always had pride in ownership and keep my residences fresh and sharp looking. I do the same with my vehicles and they too fetch top dollar and move quickly when I go to sell ‘em.
I’d agree except for the fact that when I sold my last place which was in a development with covenants all the proceeds from the sale were mine to keep. In fact, since my house was in such a desirable community, thanks to those covenants and a HOA that rigidly enforced them, my house sold the day before it was scheduled to go on the market.
The guidelines in that neighborhood were never any inconvenience to me since I’ve always had pride in ownership and keep my residences fresh and sharp looking. I do the same with my vehicles and they too fetch top dollar and move quickly when I go to sell ‘em.
You definitely did not own it, you bought the right to rent it from the HOA (and from the county since you rent from them as well), then you sold that right to someone else.
Any entity who can foreclose on you for not paying rent (doesn't matter if they call it taxes, HOA dues or whatever), or not doing what they tell you as far as how you use and maintain the property, OWNS the property. Period.
There has not been ownership of private property by individuals in US since the demise of titles held in allodium (allodial titles).
I agree with you that the HOA might have positively impacted to your ability to sell your rental rights, but I wager you still would have been better off having one landlord rather than two. Did you deduct the rent you paid to the HOA during your time of residence from the proceeds of the sale, to come to the real sum you sold the right to rent for? There are plenty of people out there who don't want to live in HOA, and in fact you might have sold for less than you could have had you not been in a HOA. Of course that is speculation.
Congratulations on making the sale.
Last edited by Slinkycat; 03-01-2011 at 06:15 PM..
Reason: grammar
Good point but with all the influx of people from all over the nation there’s no guarantee that you’ll get good neighbors. Case in point, I was watching 60 Minutes a while ago and they were interviewing John Gotti Jr. (former Mob leader of the NY Gambino Crime family) who expressed an interest in relocating to the Raleigh area.
Ultimately my personal belief is that good fences make for good neighbors and good HOAs make for good communities.
So agree with you! I have lived in both and for me, am thankful to have an hoa to be looking after all our interests. I am particularly enjoying your humor tonight...go Grizz!
I beg to differ. To me it goes to a very simple premise:
In a HOA you really don't own your property. The HOA does.
That's why they can tell you what to do with it, and slap liens on your or even foreclose on you if you don't do what they say. It's very much like how a landlord would behave towards a tenant.
So you've put yourself 10's perhap's even 100's of thousands in debt to buy a property you don't even own. How does that sit with you?
So squabbling over the convenants is really just noise around the central issue, all you are really complaining about is what how restrictive your landlord is to you.
Whoever thought of the racket to create cookie cutter neighborhood and have people spend thousands of dollars to buy a house in it, and then have them sign over implied ownership to a HOA really had base human psychology down pat.
Wow, not sure where you get your info from but this is total bosh...no truth to any of it.
I am stunned at the level of ignorance by many on the structure, purpose and powers of an HOA. I've said this before, if the homeowners don't like a rule, they can change it. It's simple...we did it in our HOA a few yrs back. We had a rogue president who let it go to his head and ran all over our board making unsound decisions. We simply had a member call a special meeting, made a proposal to remove him by getting 37 (10% of the homeowners) to vote "Yes", this constituted a quorum - the votes necessary to affect a change, and we got rid of him and then ammended our bylaws and covenants.
The association IS the homeowners...they do have the power. Most don't read their bylaws to learn of their rights.
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From the mouth of a real-estate professional
