I spoke to a lady recently who is probably going to sell her condo. She says she is OVER IT. She was complaining about the HOA and the special assessments (most recent one was for 20K). She’s been there for over 20+ years. That is a big special assessment, and that particular HOA Board is known for arguing while items need to be worked on!
It’s a privilege to own land (or a % of of it, like condos); what is on/in the land; and to be willing to take on the responsibility to maintain what we’ve gotten ourselves into.
Before making the purchase, it’s a great idea to know what you can do to the property, BEFORE making the purchase i.e. folks who buy into Home Owners Associations should read (often they don’t) the CCRs (Conditions, Covenants, and Restrictions) and the rules of the HOA (Home Owners Association). Doing your homework does pay off.
Check out if anything major is being decided by various entities: the city (anything on the agenda or in process with the Planning Board or City Council), the school district/board (what schools may be full, boundaries that may be shifting); streets and sewers (Public Works). There may be much more, depending on your interests and where you choose to live.
Next thing you find out….you’re affected by one more laws (state, local, county, or even HOAs)!
Case in point: Alameda’s Sewer Lateral Ordinance was changed about two years ago, and this change for HOA’s is/will be costly: as in special assessments.
Case in point: Alameda’s adoption in 2016 of a form of rent control. We (Realtors) are still trying to work with this, as rental unit owners are figuring the odinance out, with any/all of it’s intricacies.
I tell my clients to get involved. Find out who the players are. Find out about the inside details. Check with the neighbors. Minimize surprises. Then make your decision.
Alameda Real Estate this Week
Alameda Real Estate Awards this week
Will start again next week…I finished my 6 week online writing class this week so I’ll be out on the Tues Tour, for the most part!
Based on my cell phone’s ability to know the weather…should be dry for the next 6 days! YIPPEE…tired of waiting for the rain to stop. I took a couple of chances and rode my bike on errands in between showers! See ya out there!