10 reasons first-time homebuyers should avoid the HOA, condo, or co-op
10 reasons first-time homebuyers should avoid the HOA, condo, or co-op : By Deborah Goonan, Independent American Communities   The real estate market is going strong. And the HOA-industry is going out of its way to woo first-time homebuyers, especially millennials. But before you write that deposit check, and sign the mortgage papers, and agree to live under HOA rule, review this ten-point buyer beware checklist. Here are the top ten reasons to avoid mandatory membership HOAs – including condo, and co-op homes in planned, mixed-use, and Continue Reading10 reasons first-time homebuyers should avoid the HOA, condo, or co-op→
Is an “affordable” home or condo a good investment?
Is an “affordable” home or condo a good investment? : by Deborah Goonan, Independent American Community Two hot topics in real estate these days are the current housing affordability crisis and real estate’s investment potential — or lack of it. There’s no sugar-coating the truth. The U.S. real estate market has changed dramatically in the wake of a financial meltdown ten years ago. And today’s housing market is certainly much different from any decade since the post-World War II era. At one time in the Continue ReadingIs an “affordable” home or condo a good investment?→
Urban development: what is the appropriate limit on density?
Urban development: what is the appropriate limit on density? : By Deborah Goonan, Independent American Communities Several readers have contacted me over the past several months, sharing concerns about overdevelopment of multifamily housing, mixed used urban development, and recently approved master planned communities. One reader from Virginia laments that vintage single family and row homes are being demolished to make room for much taller condominium and apartment buildings. Readers in Arizona and California tell me that their adjacent former golf courses, open spaces, and green Continue ReadingUrban development: what is the appropriate limit on density?→
5 ways HOA, condo, & co-ops take control of your property and your life
5 ways HOA, condo, & co-ops take control of your property and your life :   By Deborah Goonan, Independent American Communities   Before you buy into an association-governed common interest community, be aware that you will give up a lot of control  over your own home and personal lifestyle choices. Here are 5 ways that life in HOA-ville limits your rights and control over your home. 1. You’ll have to follow lots of rules Life in HOA-ville is full of rules and restrictions. The industry sells many buyers on Continue Reading5 ways HOA, condo, & co-ops take control of your property and your life→

Retired Chicago condo owners could soon lose their home to deconversion

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By Deborah Goonan, Independent American Communities debgoonan@icloud.com Less than 2 years after they decided to retire in their Chicago condo, Eddie and Colleen Soto were shocked by news of a vote to sell the building to investors for a deconversion. The Sotos have owned their condo a 2 East Oak since 2008. Except for the year they rented their unit to a colleague, they enjoyed their Windy City condo on weekend getaways from their hectic Continue ReadingRetired Chicago condo owners could soon lose their home to deconversion→

HOA, condo & co-op news roundup (Nov. 11, 2019)

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By Deborah Goonan, Independent American Communities Religious discrimination costly for condo association; owners hit with huge special assessments; no solutions in sight for HOA community plagued by sinkholes or condominiums threatened by beach erosion; jury orders bad neighbor to pay $1M to condo association; another condo association near death. New Jersey HOA must pay legal fees for religious discrimination/fair housing lawsuit   A group of Orthodox Jewish residents of the Enclave at the Fairways (Lakewood) Continue ReadingHOA, condo & co-op news roundup (Nov. 11, 2019)→

4 risks for homeowners in developer-controlled HOA communities

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By Deborah Goonan, Independent American Communities debgoonan@icloud.com According to Census data, 3 out of 4 new homes in the U.S. are built in HOA-governed communities. Home buyers are not always aware that each new HOA community is controlled by a real estate developer, and that control often lasts for many years. The HOA industry and home builder trade groups claim that developer control is necessary until most of the lots or units in a common Continue Reading4 risks for homeowners in developer-controlled HOA communities→

Hidden liabilities of HOA ponds, lakes can wreck property values

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By Deborah Goonan, Independent American Communities deborahgoonan@icloud.com   Home buyers are often tempted by the natural beauty and recreational value of ponds and lakes. But condo, HOA, and lake association members don’t always consider the hidden risks and liabilities of life near the water.   WISCONSIN The case of the disappearing pond Homeowners in the Auburn Hills subdivision of Caledonia, Wisconsin, are angry and disappointed, now that they’ve learned that their view of an unattractive Continue ReadingHidden liabilities of HOA ponds, lakes can wreck property values→