If practice makes perfect, how can you excel at buying a condominium unit when you’ll probably do it fewer than a half dozen times in your life? What about the first time you buy? You’ll be working without any condo practice at all! Since condo prices start in the tens of thousands of dollars and […]
Real Estate Matters | Is it a good idea to turn FHA-financed condo into a rental?
Editor
/ Owner - November 20, 2013
My daughter and I bought a condominium for about $85,000 last year, and its value has gone up at least 10 to 15 percent since then. She is the primary owner for tax purposes since her Social Security number was used for the loan. With her name and mine on the loan application and property, […]
Welcome to Your New Lifestyle
Editor
/ Owner - October 29, 2013
Moving can often leave people exhausted and unfamiliar with their new surroundings. Those early days provide a golden opportunity for a Welcome Committee to establish a relationship that will be lasting and rewarding for both the new homeowners and the association. The board should establish a Welcome Committee consisting of homeowners who have a positive […]
Evaluating Green Communities
Editor
/ Owner - October 23, 2013
So you’re buying a new home, and you’re committed to “buying green” — a house with good indoor air quality, that doesn’t cost a fortune to heat and cool, is efficient in the use of water, and it resides in an ecologically friendly neighborhood. How do you find out about all that? What do you […]
Things Potential Residents Should Consider Before Moving into a Homeowners Association
Editor
/ Owner - August 5, 2013
Finding your dream home in that great neighborhood is only part of the equation when looking to purchase a home. Buying a home involves much more than just finding the right house. You need to find out about your new neighborhood, including whether or not it’s part of a homeowners association.
Homeowners Associations vs Real Estate Investors
Editor
/ Owner - August 4, 2013
Real estate investors, who seek higher dollar properties, find themselves working hard to satisfy homeowners’ association regulations, while tracking down attractive properties to purchase. They do so in the hopes of generating income by renting the properties out to tenants. The good investors identify which properties are right for them, taking into account the state […]
Las Vegas investors buy HOA liens and then rent out homes
Editor
/ Owner - April 23, 2013
The financial and housing crisis of 2008 has brought about many changes to the housing market. Some have been very good, while others have been bad. It has also brought about new opportunities for investors that did not exist prior to the housing market crash. With so many people going through foreclosure, the demand for […]
Asbestos in the condominium – now what?
Editor
/ Owner - February 20, 2013
The Condominium Act, 1998, SO, c.19 (the “Act”) is sometimes inaccurately viewed as addressing all things related to the function and maintenance of a condominium corporation. The common law and other legislation greatly affect how a corporation must be managed pursuant to section 27(1) of the Act and what responsibilities exist with respect to the […]
Is a Community with a Homeowners Association (HOA) Right for You?
Editor
/ Owner - February 18, 2013
If you ask 100 buyers whether a community with an HOA is right for them you are sure to get a variety of answers ranging from “Absolutely!” to “Are you crazy!” and even “What is an HOA?”. Opinions vary on their purpose and follow-through, and while they are rampant in some parts of the country, […]
Recent Rulings On Condo Contracts Have Widespread Significance
Editor
/ Owner - January 12, 2013
The Interstate Land Sales Full Disclosure Act, a federal statute that was initially designed to prevent unscrupulous land sales of desert land in Arizona and marsh land in Florida, has been one of the primary weapons employed by buyers seeking to recover their contract deposits as a result of the economic downturn starting in 2008. […]
Checking the financial health of HOAs
Editor
/ Owner - November 13, 2012
One of the causalities of the real estate downturn has been the condominium homeowners association. No one could predict five years ago when condos were selling like hot cakes that loose lending and rampant speculation would wreak havoc on a building’s Home Owners Association (HOA) and inhibit future buying and selling of its condominiums. Read More……
Would you feel OK living in an HOA?
Editor
/ Owner - October 30, 2012
Homeowners associations aren’t for everyone. You might be suited to living within a homeowners association if you prefer the company of like-minded neighbors. But an association might not be a good fit if you’re a free spirit — the type who displays a decorative flag for every occasion, for example. Read More……
Short Sales and Homeowner Associations
Editor
/ Owner - August 1, 2012
A short sale is a sale of an owner’s property where the proceeds from the sale will fall short of the balance of debts secured by the liens against the property. Nevertheless, because the owner cannot afford to repay the entire amount, the lien holders agree to release their liens on the real estate and […]
Introduction to Community Association Living
Editor
/ Owner - April 28, 2011
Community Volunteer Leadership Development Program Community volunteer leaders and members can maximize the benefits of community association living by better understanding the history, purpose, and function of community associations. One way to do so is by participating in the Center for Community Association Volunteers’ (CCAV) Community Volunteer Leadership Development Program – offered online or by […]