Condo owners sue seller, Realtor, Association for nondisclosure of potential $60K assessment
Every day I hear or read about outrageous events in Association Governed Housing Communities. And I see the same issues over and over again. These are not “isolated incidents” as the HOA industry would have the public believe. Two very common issues I encounter: disputes over who should pay for substantial repairs to exterior elements […]
Trumped: House Hunters Get A Lump Of Coal In Christmas Stockings
Home buyers and owners seeking to refinance will find a lump of coal in their Christmas stockings thanks to President-elect Donald Trump. Economists say mortgage rates in early December skyrocketed to a high for 2016 in anticipation of higher inflation under President-elect Trump’s administration and a long-forecasted Federal Reserve Board (Fed) interest hike this week […]
The Many Names For Theft Inside Your HOA: Part TWO
Last week we covered: the kickback, overbilling, expense padding, volunteer compensation and underreporting income. In the final installment of this two-part series, we continue highlighting common examples of how HOA’s can unwittingly be stripped of their monies: Overreporting expenses. Owners should beware when financial statements show an exaggerated amount for recurring regular monthly expenses. For example, […]
FL HOA (Poinciana) Attempting to Become a Municipality
The HOA, Association of Poinciana Villages (FL), wants to become a city. In fact, a group of residents have been attempting to become a municipal corporation for several years. Poinciana Incorporate Now Citizens Home Organization (PINCHOS) has completed a feasibility study submitted to Florida Legislature in August. It seems as though the large subdivision of […]
TRID RULE FOR MORTGAGE DISCLOSURE HELPS HOME BUYERS GET SMARTER
If you are planning to start home-loan hunting to finance the purchase of a new or existing dwelling now or in 2016, better clip this article and keep it so you avoid becoming a mortgage dummy. Once you wade through the alphabet-soup the federal government uses to describe the nation’s newly revised mortgage-application process, understanding […]
The Myth of the Homeowners (& Condo) Association “contract”
By Deborah Goonan, Independent American Communities blog http://independentamericancommunities.com/ In a recent discussion forum on rules regarding display of flags in Common Interest Communities (aka Homeowners Associations), there was some vigorous back and forth about the fact that Association-controlled communities are controlled primarily by the CC&Rs (or Declaration of Condominium) contract, rather than Constitutional law. The […]
MILLENNIALS RENT & WONDER WHATEVER HAPPENED TO THE AMERICAN DREAM OF HOMEOWNERSHIP?
Written By: Don DeBat With more and more Millennials choosing to rent apartments, many housing advocates are asking: “Whatever happened to the American Dream of homeownership?” Owning a home once was considered essential to the stability and future of the United States, experts say. When President Bill Clinton left office in January of 2001, nearly […]
‘EASY’ CONDOMINIUM AND HOA LIVING IS NOT WITHOUT ITS DRAWBACKS
FOR IMMEDIATE RELEASE October 20, 2015 National Community Housing Survey: ‘EASY’ CONDOMINIUM AND HOA LIVING IS NOT WITHOUT ITS DRAWBACKS First of two reports on community-association living. CHICAGO—Seventy-million Americans may reside in condominiums and homeowners associations (HOAs), but it is not a perfect lifestyle. One of the biggest attractions of shared-community ownership is the so-called “carefree living” aspect. Often, there […]
DISPATCHES FROM THE FRONT: DENVER PROPOSES ORDINANCE TO CURB LAWSUITS BROUGHT BY CONDO HOMEOWNER ASSOCIATIONS FOR CONSTRUCTION DEFECTS
This proposed construction defect ordinance highlights the vital importance of condominiums in providing affordable housing for emerging markets, like Denver. However, the proposed legal protection for developers wouldn’t guarantee more condo construction. Denver unveils construction-defects reform proposal to spur condo building10/15/2015By Vic VelaTHE COLORADO STATESMAN Denver Mayor Michael Hancock this week unveiled a proposal aimed at reining […]
DISPATCHES FROM THE FRONT: S. CAROLINA RESPONDS TO CONSUMER OUTCRY REGARDING HOA ABUSE
Bluffton Today: S.C may empower gated-community dwellers against HOAs, managers By Sarita Chourey Morris News Service\September 30, 2015 COLUMBIA — The volume of homeowner association complaints filed with one state regulator since January has already outpaced an earlier year, according to the S.C. Department of Consumer Affairs. There were 40 complaints for a 12-month period […]