Condo to apartment ‘deconversions’ continue in Chicago

Investors take over condo boards, vote to terminate the associations, and force remaining owners to sell at their condos at low prices By Deborah Goonan, Independent American Communities   Fifteen years ago, real estate professionals were touting the benefits and affordability of condo living. So thousands of first-time home buyers and retirees  puchased a condominium …

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Arizona HOA, condo, co-op legislative updates (April 2018)

By Deborah Goonan, Independent American Communities   The Arizona Legislature just took three steps forward toward protecting the rights of homeowners and shareholders in association-governed communities. Governor Doug Ducey has signed all three of the following bills, which are now law in Arizona.   HB-2262: Condominium Termination Compensation In Arizona, the condominium association termination trend …

Investigative journalists confirm abusive nature of HOAs, common interest communities

By Deborah Goonan, Independent American communities   Nearly eight years ago, when my husband and I purchased and moved into a nearly-new home in a master planned community, we had only a vague understanding of what it means to own and reside in an association-governed common interest community. Like most first-time residents of homeowners, condominium, …

From Chicago to Charlotte, condo owners attempt to cash in on their own terms

By Deborah Goonan, Independent American Communities   In cities across the U.S., the real estate market is hot, and land is scarce. Developers are on the lookout for investment opportunities. Some have their eye on older, low-rise condominium buildings and developments located on prime parcels of land. The goal — gain control of the association, …

(OH) City of Whitehall seeks eminent domain, offers to purchase Woodcliff Condos for $9M

By Deborah Goonan, Independent American Communities   UPDATE: Whitehall City Council votes to move forward with condo purchase Meghan Matthews, 10TV.com PUBLISHED: 05/15/18 09:13 PM EDT UPDATED: 05/16/18 05:37 AM EDT WHITEHALL, Ohio A decade-old battle over property in Whitehall came to an end Tuesday night as City Council moved forward to buy it. Council …

Condo association sues three owners fighting condo-to-apartment deconversion, claiming defamation

Why Illinois anti-SLAPP law may not protect condo owners By Deborah Goonan, Independent American Communities   Back in September (2017), I wrote a post about a condo termination controversy at River Trails Condominium in Prospect Heights, Illinois. River Trails meets all of the typical criteria for a good deconversion candidate: Constructed in the 1970s, dated …

HOAs, condos, & co-ops much more than ‘contractual communities’

By Deborah Goonan, Independent American Communities   Last week several readers forwarded a link to California Attorney Tyler Berding’s opinion that association governed communities are ‘contractual.’ Berding makes his case that even though common interest communities appear to have qualities in common with government, they are purely contractual in nature. The Contractual Community Why Community …

Reader’s Choice 2017: Condo owners forced to sell in a deconversion, like it or not

It’s that time of the year. For the rest of the year, I’ll be reposting the 10 most read articles here on IAC. Thanks for following, reading, and sharing. Special thanks to readers who have provided inspiration for blog topics, and for those who have been willing to share their personal HOA stories. Public awareness …

Are condominiums becoming obsolete?

Condo-to-apartment conversions and redevelopment are on the rise By Deborah Goonan, Independent American Communities   Every month I see several reports of condominium associations that are struggling to survive. It’s a growing trend in the U.S., as many condo communities have reached the point where buildings and surrounding grounds require major repair and upgrades. Many …

Reader’s Choice 2017: Can hostile takeovers of condominium associations be prevented?

It’s that time of the year. For the rest of the year, I’ll be reposting the 10 most read articles here on IAC. Thanks for following, reading, and sharing. Special thanks to readers who have provided inspiration for blog topics, and for those who have been willing to share their personal HOA stories. Public awareness …