Look through the HOA’s reserve study to make sure that the reserves are properly funded. “Usually, if the HOA is 70 percent or more funded, they will be able to make all their repairs on time with enough cash flow,” says Scott Ford, president of residential real estate development consulting firm, California Builder Services. “If they’re less than 40 percent funded, walk away!” he warns.
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Did you know Florida is home to nearly 50,000 HOAs, making it the state with the second-highest number of HOAs in the country, behind California? A recent bill signed by Governor Ron DeSantis, effective this July, aims to offer more leniency to homeowners while providing HOAs with clearer guidelines and restrictions.
The California Department of Real Estate (DRE) is implementing new regulations that impact buyers and sellers. These new regulations will implement higher fees, revised mapping regulations, and new building configurations. Real estate professionals and stakeholders—particularly developers—must familiarize themselves with these updates to navigate the evolving regulatory framework and continue providing high-quality services. We’ve created a blog post with helpful information on the updated filing fees and a full analysis of the changes.
Aside from the fact that we’re all paying higher prices at the grocery checkout and the gas station, inflation is also impacting organizations like homeowners’
Start-up budgets that meet DRE review criteria result in HOA dues that are much higher than you expect them to be. While buyer’s HOA dues
