Reality check: HOA managers face decline of their industry, like it or not

By Deborah A Goonan, Independent American Communities   How many times have we heard representatives from HOA industry trade groups utter the words, “Homeowner Associations are not going away?” But that, dear readers, is nothing more than wishful thinking. Let’s start with the facts. The construction industry is building fewer new HOA homes and condos …

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Stopping a condo to apartment deconversion is challenging

By Deborah Goonan, Independent American Communities A controversy brewing in Chicago provides more evidence that the market for association-governed housing is on the decline, especially condominiums. River Trails Condominium, 16 buildings 360 units, located in Prospect Heights, Illinois, is one of the latest multifamily housing communities that real estate developers covet for a deconversion. A …

Institutional investors exploiting market for HOA single family homes

Investors move beyond bulk purchase of condos, expanding their inventory of rental properties   By Deborah Goonan, Independent American Communities As a follow up to yesterday's article HOAs are built on foundation of property values, not social values, today's focus is on how institutional investors exploit the real estate market, increasing profits for their shareholders and …

Condo industry investors unhappy about new consumer protections

New Florida statutes make it more difficult to force condo termination and apartment conversions upon unwilling owners By Deborah Goonan, Independent American Communities   Part of the mission here at IAC is to educate housing consumers by exposing the true agenda of the real estate industry. Hint: it is not to serve the needs of …

Do some U.S. homeowners have more private property rights than others?

By Deborah Goonan, Independent American Communities As we celebrate Independence Day in the U.S., it is the appropriate time to reflect on the status of private property rights in America, especially with regard to homeownership and association-governed communities. Legal dictionaries define private property as: The ownership of tangible and intangible goods by an individual who …

Condo to hotel conversion a bad deal for 20% of FL unit owners

Minority investor-owners' investments turn sour, full-time residents are displaced. By Deborah Goonan, Independent American Communities   People buy condo units for several different reasons. Some buyers purchase a unit in a condominium with the intention of making it their primary home. Other buyers may intend to live in their condo full-time or seasonally upon retirement, …

Condo owners forced to sell in a deconversion, like it or not

In Chicago, Illinois, 75% of unit owners can force a bulk sale and termination of the condo association. By Deborah Goonan, Independent American Communities   Although the real estate market has improved in some parts of the country, condo sales in some markets have lagged behind. In Chicago, news outlets are reporting the hottest new …

HOA Legislation updates – March 2017 (CO and FL)

by Deborah Goonan, Independent American Communities Colorado Construction Defects debate heats up, but is compromise possible? A new compromise bill has been introduced in the House, in the hopes that Colorado legislators can finally address the state's highly controversial construction defect laws pertaining to common interest, association-governed communities. In past blogs, I have criticized the …

Florida condo bills address Grand Jury report and condo terminations

By Deborah Goonan, Independent American Communities In Florida, more than a dozen bills related to Association Governed Communities have been submitted for consideration this Legislative session. I highlighted a few of them in an earlier blog.  But on the heels of the recent Miami-Dade Grand Jury report, blasting the Department of Business and Professional Regulation …

Chicago Palatine condo deconversion attempt

By Deborah Goonan, Independent American Communnities   Think condo to apartment conversions only happen in Florida? Or in the core of major cities such as Chicago? Think again. If the latest attempt at deconversion survives a pending lawsuit against investors, The Woods at Countryside will be one of the largest suburban condo communities to go …