How will changes in FHA financing affect condo homebuyers?

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By Deborah Goonan, Independent American Communities   FHA to ease condo financing, claims it will boost homeownership If you’ve been following housing news over the past several years, you’ve probably read many articles on proposed revisions to FHA financing. The HOA-industry, including trade group Community Associations Institute (CAI) and the National Association of Realtors (NAR) have been pushing their agenda to ease mortgage qualification standards for condos for several years. Now it looks like stakeholders Continue ReadingHow will changes in FHA financing affect condo homebuyers?

What’s happening in HOAville this week? (July 20)

This week: Homeowners deal with rattlesnakes; retirees face threat of losing their condos in a deconversion; developer builds condos just for Airbnb; townhouse owners plagued by clogged storm drains Continue ReadingWhat’s happening in HOAville this week? (July 20)

Arizona HOA, condo, co-op legislation update (End of session 2019)

Property does not have rights People do

By Deborah Goonan, Independent American Communities End of session summary of several bills impacting HOA-governed communities, tracked by Arizona Homeowners Coalition (AZHOC). Subjects: Applicability of Planned Community Act, HOA foreclosure, Condominium Association termination. A mixed bag for homeowner rights in Arizona’s association —governed common interest communities. Click on “continue reading” below for updates. Arizona Legislative updates: Assessments, HOA foreclosure, Condominium Association termination (2019)

Owners of mold infested condo consider dissolving association

Cough sneeze runny nose mold sick

By Deborah Goonan, Independent American Communities Unit owners are reportedly considering dissolving their leaky, mold-infested condo association in Winter Haven, Florida. In a report from ABC Action news, condo manager Joe Garrison explains that only 60% of owners at Royal Crescent Condominium are paying their monthly assessments, currently about $300. Condo owners say they’ve been complaining about persistent water leaks for at least the past two years. Condo management has not been able to find the Continue ReadingOwners of mold infested condo consider dissolving association