Seeing Red? | ChampionsGate
March 3, 2013 | ChampionsGate
I get asked this question a lot here in the Disney area. People from all over the world vacation and buy properties here and many of them do not have HOA’s where they live. It is up to us introduce them to the concept and make sure they fully understand what they are and what they do for a homeowner.
A Homeowners Association (HOA) is a non-profit association of homeowners organized under governing, regulated, and enforced rules regarding what can and cannot occur in common-interest developments such as condominiums, townhouses, and some single-family subdivisions. It is typically created by a real estate developer and transferred to the homeowners of the real estate project once a certain number of units have been sold.
When a person buys a home in a community with a Homeowners Association, he/she becomes a member of that particular HOA and is responsible for monthly membership dues. These dues are collected to pay for several services to be covered for the homeowners such as:
- Exterior building maintenance
- Cable TV
- Parking areas and driveways
- Exterior lighting
- Liability insurance
A “board” of directors is elected to advocate the rules called “Covenants” for the neighborhood. HOAs may help keep property values high because…
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Well the November market data is in folks. No big surprises as we head into the slowest period of the fiscal year. The inventory in the Disney area is at a 50 year low. So if you are in the market for a home, you already know the pickings are slim. To top that, if you do find one, you are almost instantly in a multiple offer situation with other buyers. However, if you will be patient the inventory will slowly rise as we head into early spring. If you have a good agent, they will be able to keep a close watch on the market and notify you immediately when something that fits your needs becomes available. For the next several months, timing and a well advised offer will mean the difference to a buyer’s success or what may seem like an endless search for a new home.