Monthly Archives: January 2020

What is a homeowner’s association (HOA)?

A homeowners association (HOA) is an organization in a subdivision, planned community or condominium that makes and enforces rules for the properties and their residents. Homeowners associations are started by property developers, then turned over to the homeowners after a certain number of properties in a subdivision have been sold.

Initially, in a new development, the purpose of a HOA is for marketing and selling homes and lots. After the majority of homes are purchased and occupied, the purpose of the HOA transitions and becomes primarily focused on management and upkeep of home exteriors and any shared communal areas to maintain the corporate property values for the subdivision as a whole, and that it functions fairly and efficiently.

Generally speaking, if a home within the boundaries of an existing HOA is purchased, the new owner becomes a member of that HOA as a compulsory condition of owning the home. As a member, they will be required to pay fees, and agree to abide by all the rules and regulations laid out in any applicable HOA governing documents regarding their home, including but not limited to Articles of Incorporation, CC&Rs (Covenants, Conditions, and Restrictions), and By-laws.

HOAs have a board of directors or governors, elected to enforce and oversee the HOA’s rules and regulations. Typically, the board of directors is comprised of homeowners also living within the boundaries of the HOA. An HOA describes its rules in a document called the Declaration of Covenants, Conditions and Restrictions (CC&Rs), which set certain conditions on owners and their properties. The conditions may include structural restrictions such as the type of fences or landscape allowed, or minor selections such as the color of paint on a house. This document usually also outlines the penalties for violating the CC&Rs, which may include fees, forced compliance or in some cases, litigation.

Some things that may be covered by these types of governing documents include (but aren’t limited to):

• Fencing
• Landscaping/vegetation
• Paint colors
• Maintenance standards
• Parking
• Rental guidelines
• Noise
• Pet restrictions
• Meeting information
• Membership fees
• Fees for Common Area Maintenance (C.A.M.) or amenities
• Penalty disclosure for violation/non-compliance

How prevalent are HOAs?  Approximately 25% of homes today are governed by HOAs.

Pros and Cons of HOAs

Pros:

• Homes governed by HOAs tend to maintain higher property value and resell at premium prices because of overall community standards being kept high.
• A HOA could potentially pay for or subsidize high cost repairs or upgrades such as roof repair or major landscaping.
• HOAs promote tight-knit community bonds, sometimes organizing neighborhood activities such as movie nights, holiday themed events, or babysitting co-ops.
• Safe, clean, and well-maintained common areas and amenities like parks, pools, and community rooms.
• Increased community pride, neighborly communication, and sense of belonging.
• Added layer of support when dealing with issues such as neighbor disputes.
• HOAs are a deterrent for “troublemakers,” thus naturally weeding out less desirable neighbors.

Cons:

• Can be costly.
• Management is different from HOA to HOA.
• Rules can be restrictive, a con for free spirits wanting carte blanche on personalization of home exteriors. Not ideal for those wanting Aquamarine colored homes, or 3 am block parties, for instance.
• If you break the rules, fines up to and including home liens can be imposed against you.
• Total privacy is not a probable expectation.

Before you buy:

When deciding whether to purchase a home governed by a HOA, here are some factors to consider.

First, you will want to read and understand all of the governing documents, and make sure the regulations and restrictions outlined are something with which you are comfortable living. Consider not just move-in, but any future plans might that be affected by the rules listed, such as exterior painting, remodeling, home addition, or outbuilding possibilities.

Secondly, look at the fees, and factor the costs into your home budget to make sure it is financially viable, understanding that many HOA fees are an annual, semi-annual, or even monthly recurring expenses.

Third, you may want to speak personally to a few homeowners within the area you are looking to purchase. Ask them how easy, or difficult, the HOA has been to work with to determine if it is something that suits your family, lifestyle, and temperament.

For some people, living in an HOA-controlled community is the right place for them. Others prefer the freedom and independence of living in a property free of outside oversight. As you select a home or community to live in, a good realtor will help you learn the ins and outs of each neighborhood so that you make the decision that is right for you.

Market on the Move (MOM) is a farmer’s market type event and is being held on the second Saturday of every month through May.  The next Market on the Move is February 8^th  from 8 am to 10 am.  Subsequent markets will be held on March 14^th and April 11^th.

Market on the Move is a great way to stretch your grocery dollars.  A $15 cash donation qualifies you for up to 60 pounds of produce and/or groceries.  Items are on a first come, first served basis.

Come out to Sawmill Crossing Shopping Center and join us!

What is staging? Home staging is the art of preparing your home aesthetically in the best possible light to be shown to potential buyers. Great staging highlights everything a home has to offer and minimizes any blemishes. The goal is twofold: to get you more offers, and to make those offers higher than they would be without staging, and to do both more quickly than would happen without it.

Tips for making the most of staging: Appeal to the largest pool of buyers by using a few key strategies when staging your home.

• Declutter! Most importantly, get rid of excess. Papers, books, games, dishes crowding cupboards….and just, stuff. Box it and store it while the house is being shown. Less is always much, much more. Minimize as much as possible, then minimize more.
• Group furniture strategically. Pull your furniture away from walls and arrange in cozy groupings. Studies have shown that downsized furniture is often used by professional stagers in order to make rooms appear larger, so use the smallest and most delicate furnishings you have.
• Give rooms purpose. If you have a space that could serve as an “office nook” or mudroom, make it appear as such, even if that hasn’t been how your family utilized the space. Make each room count.
• Focus on lighting. Simply increasing the wattage on bulbs can literally shine new light on an area. Different color hues can cast different moods in a room as well.
• Use paint to make spaces larger. Paint is one of the most cost effective ways to give a space a facelift. Monochromatic color between attached rooms can make the whole space appear loftier than it is. Matching paint color to curtain color has the same effect.
• Embrace color. Accent walls, and pops of color in the form of pillows, towels, and accessories do a lot to add appeal to a room.
• Use art creatively. Hang things at unusual heights and spacings. Be bold and distinctive to catch attention.
• Use nature, bring the outside in. Utilize all you can of your native environment when it comes to decor. Branches, local flowers, ivy, fruits and veg from a garden, or distinct stones can all be used attractively to accentuate your home.
• Make the master bedroom an inviting escape. Make a cozy bed and little else the focal point of a master bedroom. Some even buy a frame and a blow up mattress, adorned with beautiful linens to give the correct scale to a bedroom if their own appears to be the incorrect size.
• Don’t forget the details, think hotel spa: luxurious towels rolled, baskets, beautiful toiletries that are attractive on their own atop the counter, decorative mirror framing. These things can be very impressive to buyers.
• Think outside the box and use what you have. Look around the attic, basement or garage for unusual pieces that can be repurposed for display.
• Keep the fur-babies under wraps. Unfortunately, buyers tend to see pets as a negative when viewing a house.
• First impressions count. Entryways are a focal area you should concentrate on.
• Keep your personal life packed away. Religion, politics, excessive family photos should all be relegated to boxes in storage for the time the house is on the market and actively being shown.

What does it cost to stage your home? Staging can be done on a very limited budget, or you can swing for the fences and hire the help of a professional to do the heavy lifting for a higher price tag. The investment is entirely up to you. A do-it-yourself approach is cost effective and very attainable, while professional services have the benefit of experience, resources, and knowing the current industry trends.

 What is the return on the investment of staging your home? What’s in it for you? Good staging is key to getting the best offers the most quickly. Recent studies in the US housing market showed that staged homes sold for 6-20% more compared to unstaged or empty homes in the same area. Potential buyers stay longer in homes that are pleasing to the eye, and people who linger are more likely to buy.