Streamlining Success in a Limited Timeframe

A national builder bought finished lots in a Golf & Country Club Residential community located in Northern California faced a pressing challenge when they urgently needed a Final Public Report to make an upcoming closing. However, the existing Homeowners Association (HOA) had hired a Reserve Specialist to complete the annual reserve study which had been delayed. This delay was preventing the completion of the Final Public Report. To meet the closing deadline and ensure a smooth transaction, they came to us needing a full Reserve Study immediately. Despite the limited time available, we managed to complete the study within 72 hours!

As a result, we promptly provided the necessary information to the DRE, enabling the builder to obtain their Final Report for their upcoming closings and stay on track with their schedule.

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A Crash Course on Reserve Studies

According to the Foundation for Community Association Research, around 75.5 million people in the United States live in a homeowners association (HOA) community, which is more than 30% of the U.S. housing stock. Reserve studies refers to a vital capital planning tool for Homeowners Associations and condominium associations that provides directional guidance and an in-depth analysis of community assets.

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The Effects of Lower Rates on New and Existing Home Sales

The Federal Reserve is hoping to provide some economic relief to Americans through an interest rate cut made in September, as preparation for a potential recession continues. Higher interest rates have stunted the housing market, as home buyers are pulling back due to high borrowing costs and soaring home prices.

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