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Homeowners Associations

All articles tagged with #homeowners associations

real-estate2 years ago

"2024 Housing Market Predictions: Insights from Experts and Industry Leaders"

Realtor David Anderson and UTSA professor Jon Taylor weigh in on the 2024 real estate market, expressing confidence in a solid market with potential drops in home prices and mortgage rates. Anderson advises sellers to act quickly due to high demand, while Taylor highlights the impact of new laws on property taxes and homeowners associations, including potential property tax cuts and increased transparency for HOA homeowners.

via KSAT San Antonio|
#2024-predictions#homeowners-associations#mortgage-rates
real-estate2 years ago

"Mastering the Art of Vetting HOAs: A Buyer's Guide to Homeowners Associations"

Homebuyers should carefully vet homeowners associations (HOAs) when considering a property purchase. HOAs are governed by elected board members who enforce rules and regulations and maintain common areas. Mandatory HOA membership can be costly, with fees as high as $1,000 per month. Buyers should review HOA paperwork, inquire about fees and budget history, examine reserve funds, check for liens and foreclosures, and attend board or annual meetings to assess the community's financial health and decision-making process. It is important to ask questions and gather information from various sources before making a decision.

via CNBC|
#financial-considerations#hoa-fees#homeowners-associations
real-estate2 years ago

The Rise of Homeowners Associations: A Dominant Force in American Neighborhoods

Homeowners associations (HOAs) are becoming increasingly common in the US, with roughly 84% of newly built, single-family homes sold in 2022 belonging to HOAs. However, some homeowners are experiencing financial burdens and legal disputes with their HOAs. In one case, a couple in Georgia ended up paying over $12,000 in fines and garnished wages to their HOA, in addition to legal fees. While HOAs can help maintain property values and manage shared amenities, there is mixed data on their impact. Homeowners who have disputes with their HOAs often struggle to find help from official government channels, and change in HOA regulations typically happens at the grassroots level.

via CNBC|
#financial-burden#hoas#homeowners-associations
society2 years ago

The Power and Havoc of Homeowners Associations: John Oliver's Take.

Last Week Tonight host John Oliver criticized the private governing structure of homeowners associations (HOAs) in the US, which collect dues to manage amenities and enforce architectural and landscaping guidelines. HOAs can enforce fines and even foreclose on homes, and are largely unregulated, with disputes considered private matters. Oliver suggested measures such as mandating HOAs offer payment plans on unpaid debt before taking legal action and banning foreclosures based on fines and attorneys fees.

via The Guardian|
#hoas#homeowners-associations#private-governance