Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive)

Spam prevention
Rainmaker
2,635,227
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There could be shenanigans afoot here. I do know that good management is crucial and that doesn't mean whoever made being on the HOA board is a manager either. This mirrors our countries woes

Mar 25, 2016 09:37 AM
Rainmaker
1,716,656
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

This is what happens when non-business savvy condo owners run the Board of Directors, completely oblivious to the consequences of keeping the HOA fees unreasonably low.  It is so prevalent and, you're right, it is pathetic.

Mar 25, 2016 07:38 AM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Someone is power hungry and I would ask to se the books really carefully

Mar 25, 2016 07:24 AM
Rainmaker
4,065,975
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have seen some pretty hefty special assessments in our area but the sales prices are very different than what you have described but it is certainly not the norm.   

Mar 25, 2016 11:23 PM
Rainmaker
4,166,414
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

If I am a buyer, I am running not walking away. If it happens once, it can happen again!

Mar 25, 2016 10:08 PM
Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

HOAs need savvy management and a good group of watchdog owners to keep them lean yet functional.

Mar 25, 2016 06:34 PM
Rainmaker
1,988,128
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

what a nightmare - hard to figure out how to sell a condo with that as an assessment 

Mar 25, 2016 12:48 PM
Ambassador
2,224,117
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

No freaking way.?!!! That is crazy. I did read one of your posts about this over the last week. 

Mar 25, 2016 11:45 AM
Rainmaker
1,879,335
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Their reserve accounts may be too low and don't have suficient funds to cover the cost? 

Mar 25, 2016 09:37 AM
Rainmaker
610,666
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

In Florida, there are so many condo's owned investors who stop paying the HOA fees the minute their rental income drops, so special assesments are a necessity.

Eve

Mar 25, 2016 08:09 AM
Ambassador
5,366,488
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

When you have not choice but to pay or leave, they will charge what they can get away with.

Jun 21, 2019 10:07 PM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I can't believe they are assessing $32k . These kind of assessments will hurt the condo resales.

Mar 25, 2016 09:37 PM
Ambassador
4,560,528
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

That's pretty shocking stuff, Carla. Seems excessive, on top of mis-management. There are several HOAs here that have been sued by the residents for mis-management issues

Mar 25, 2016 08:52 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

The condo budgets are set buy the condo owners through their associations.  If they do not budget enough for their reserves (as many associations don't) , these types of assessment will bite them later on.

Mar 25, 2016 05:32 AM
Rainer
230,924
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

well, it sounds like its a Trump deal, UP yours sounds like something he would say? :)

Mar 25, 2016 05:21 AM