Tag Archives: investment risk

Tenant, owner nightmares continue with leaky, moldy condos

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No money empty pockets poor

The Worthington, Marietta, faces huge financial challenges By Deborah Goonan, Independent American Communities   Here’s another typical “affordable” condominium residential community near the end of its life cycle – The Worthington Condominiums, located in Marietta, Georgia. Cobb County records indicate that The Worthington consists of two buildings at 1960 and 1962 Spectrum Circle, both constructed in 1985. There are 188 units in two 7-story buildings, available in several floor plans with one to three bedrooms. Active Continue ReadingTenant, owner nightmares continue with leaky, moldy condos→

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Where does my money go? Owners frustrated with unaccountable condo, HOA leaders

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By Deborah Goonan, Independent American Communities A collection of association-governed communities that don’t listen to members and fail to take care of the property the are supposed to maintain.  Residents of Del Webb Community complain of mold By deannerobertswcbd Published: February 9, 2018, 7:08 pm SUMMERVILLE, S.C. (WCBD) – Berkeley County homeowners in the Del Webb Community report that mold has been growing in their community’s clubhouse for over three years. On Monday, February 5, Continue ReadingWhere does my money go? Owners frustrated with unaccountable condo, HOA leaders→

HOA residents win in Ahwatukee Lakes Golf Course lawsuit

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By Deborah Goonan, Independent American Communities   Ahwatukee Lakes is one of the many struggling golf course communities I have been following on IAC. Last week, Ahwatukee Foothills News reported an important legal victory for homeowners.   Since Ahwatukee Lakes Golf Course’s 2013 closure by then-owner Wilson Gee, a group of homeowners, who originally bought into the community specifically for the golf and country club lifestyle, have been fighting to prevent redevelopment. Concerned homeowners have raised Continue ReadingHOA residents win in Ahwatukee Lakes Golf Course lawsuit→

Unaccountable developers create big problems for condo, homeowner associations

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By Deborah Goonan, Independent American Communities   Let’s talk about one of the most glaring unintended consequences of enabling real estate developers to control residential communities large and small: no accountability to housing consumers. Allow me to explain. Prior to the 1980s and 1990s, a buyer could purchase a new home from a builder without being forced to “agree” to membership in a mandatory, covenant burdened, deed restricted, association-governed community. Each new home, even if Continue ReadingUnaccountable developers create big problems for condo, homeowner associations→