Comments on: Real Estate Musings http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html Redfin Bay Area Sweet Digs Tue, 07 Feb 2012 16:59:16 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: susan.brady http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2174 susan.brady Sat, 22 Dec 2007 01:19:51 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2174 Thanks for sending that link baglady. that is a horrific story. I have heard numerous stories such as that, although not as awful. I think it is common to have special assessments at some point in time, and it's no worse than having to finance a new roof on a single family home. But it seems the common assumption is that the monthly fee will cover any and all expenses, which does not appear to be the case all too often. Thanks for sending that link baglady. that is a horrific story. I have heard numerous stories such as that, although not as awful. I think it is common to have special assessments at some point in time, and it’s no worse than having to finance a new roof on a single family home. But it seems the common assumption is that the monthly fee will cover any and all expenses, which does not appear to be the case all too often.

]]> By: thebaglady http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2171 thebaglady Sat, 22 Dec 2007 00:05:18 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2171 Hey Susan, thought that you'd be interested in this story: http://baglady.dreamhosters.com/2007/12/18/reader-email-beware-of-crappy-condo-assessment-fees/ a reader of mine sent that to me and it's pretty awful Hey Susan, thought that you’d be interested in this story:
http://baglady.dreamhosters.com/2007/12/18/reader-email-beware-of-crappy-condo-assessment-fees/

a reader of mine sent that to me and it’s pretty awful

]]> By: susan.brady http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2141 susan.brady Tue, 18 Dec 2007 22:52:41 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2141 I definitely think that additional amenities are part of the higher cost, as many did have pools and gyms. Overall, I am not sure if that is the total reason, or if there are others. Maybe one of our SF bloggers will know, or perhaps a reader? I definitely think that additional amenities are part of the higher cost, as many did have pools and gyms. Overall, I am not sure if that is the total reason, or if there are others. Maybe one of our SF bloggers will know, or perhaps a reader?

]]> By: gfw http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2139 gfw Tue, 18 Dec 2007 21:50:02 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2139 Those are pretty interesting stats. Thanks for putting that together. I wonder if the high HOA fees on 50+ unit buildings are due to the fact that larger buildings have more amenities per unit or because of something else. I would guess that larger developments include things like gyms, pools and such. Small developments can't just have smaller pools or gyms-- a gym or a pool has a minimum size... What else could higher HOAs be an indicator of? Would it reflect higher taxes on larger parcels? (Do the HOA fees cover taxes?) Maybe increased wear and tear on common spaces because of a higher number of owners per unit of common space? Higher insurance costs because there are a greater number of owners, and so more can go wrong? Those are pretty interesting stats. Thanks for putting that together. I wonder if the high HOA fees on 50+ unit buildings are due to the fact that larger buildings have more amenities per unit or because of something else. I would guess that larger developments include things like gyms, pools and such. Small developments can’t just have smaller pools or gyms– a gym or a pool has a minimum size…

What else could higher HOAs be an indicator of? Would it reflect higher taxes on larger parcels? (Do the HOA fees cover taxes?) Maybe increased wear and tear on common spaces because of a higher number of owners per unit of common space? Higher insurance costs because there are a greater number of owners, and so more can go wrong?

]]> By: susan.brady http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2135 susan.brady Tue, 18 Dec 2007 18:59:34 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2135 Good clarification. Thank you Broker4you. For those unfamiliar with HOA dues, monies collected are used for both present/ongoing expenses (gardeners, security, etc), as well as large, one-off projects such as roof replacement. The funds for the larger, single repairs are held in a reserve fund. Good clarification. Thank you Broker4you. For those unfamiliar with HOA dues, monies collected are used for both present/ongoing expenses (gardeners, security, etc), as well as large, one-off projects such as roof replacement. The funds for the larger, single repairs are held in a reserve fund.

]]> By: Broker4you http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html/comment-page-1#comment-2134 Broker4you Tue, 18 Dec 2007 18:01:00 +0000 http://blog.redfin.com/sfbay/2007/12/real_estate_musings-2.html#comment-2134 Hello Susan, You forgot to mention that some (if not most) of the association fees include $$ that go to a "reserve fund" that is calculated on a component's life span. An example would be roofing - they figure that in, say, 20 years the roof will need replacement and the asscociation should have the funds ready by then to replace it (when the time comes) If they do not have the funds, then they will have to pass onto the owners a huge assesment to cover the cost of replacement. The same goes for repaving, common unit water heaters, etc etc..... Hope this helps! Hello Susan,
You forgot to mention that some (if not most) of the association fees include $$ that go to a “reserve fund” that is calculated on a component’s life span. An example would be roofing – they figure that in, say, 20 years the roof will need replacement and the asscociation should have the funds ready by then to replace it (when the time comes) If they do not have the funds, then they will have to pass onto the owners a huge assesment to cover the cost of replacement. The same goes for repaving, common unit water heaters, etc etc…..
Hope this helps!

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