Pt. Brittany & other Bayway Isles condo/HO Assns (foreclosures, renters)

[Palm & Sea]

Hi, I am thinking about a condo in Pt. Brittany or other community in Bayway Isles, as a vacation getaway. I am 56.

1. What is the best way to find out the financial situation of the HOA (reserves, foreclosures, any spec. assessments, how many renters, are they collecting HOA fees as expected, etc, etc. etc.) And does anyone have specific information they could share about condos in this area? I know that many areas of FL are in bad situations with condos.

2. What to expect in terms of insurance? HOA fees will most likely cover insurance for outside, anyone know what to expect about insurance for inside of a condo? Will the insurance for a place near the water like this give me sticker shock?

3. I don't want ground floor, but isn't it true that the higher the floor, the more the possibility of wind shear? Having said that, I would still like some view of the water - maybe 3rd to 5th floor. Any opinions?

Do you live here or know anyone who does? Thoughts, opinions, comments? All info is welcome. Thanks!

[Palm & Sea]

Can anyone comment on this? Much appreciated.

[cariad]

I can't help re your questions about hoa and insurance-probably this could best be answered by a realtor; but I can tell you that we looked at a condo in Point Brittany several years ago-just before the collapse-and I did like the building. It was very nice and well maintained then.
the drawback from my perspective was that if you just like looking at views it would be okay if you get the condo with a view, but if I'm going to live that close to the gulf I want to be able to walk out of my condo and walk along the beach, walk to restaurants, etc.

[Jessuf]

I don't know anything about that area but:

1. If you are financing your home, you will generally have to have a condo questionaire filled out by the HOA that will ask questions like number of units, ratio of renters to owners, number of owners in arrears, etc. As for financials, most HOAs will not release financials to non-owners. However, if you are buying a resale, you could get financials from the current owner.

2. I'm not sure how many floors these buildings have, but if they are highrises, they will definitely have pretty substantial insurance coverage including GL, property, wind mitigation, etc. However, that will only cover common elements and the exterior of the building. You would need to obtain homeowner's insurance to cover the inside of your unit (required by law). It shouldn't be too high (unless you are used to something incredibly low where you are now).

3. As for wind shear, I work at a high rise on the water, and we usually don't have an issue with this unless there is an incredibly strong storm. On a normal sunny day, I can go up on the roof or on a balcony on an upper 30's floor and not feel much wind.

[Palm & Sea]

I really appreciate your answers. I have a lot of research to do, but every little bit helps. Thanks again.