Monthly HOA dues take a dive!
Things are happening pretty quick around here, holiday activity has been great, and we will now have 2 more awesome homeowners ringing in the new year!
AND NOW FOR THE BREAKING NEWS!
Last week, we held our first, "almost-real" homeowners meeting. Not quite the first official HOA meeting for the community, but an important one nonetheless. By unanimous decision, we have lowered the monthly dues to $99 per month! Yep. Just ninety nine bucks.
Voodoo you say?
Nope, just a really sharp pencil and tenacity while re-evaluating the budget. Seems many of the improvement slated for the project was completed by the developer after the initial budget was made, and we are not only strong financially, but overkill with the reserves. Hey, if something crazy came up, the homeowners decided they would rather put in a few extra bucks at that time rather than pumping their hard earned dollars into a pot already overflowing (our reserves currently hover around $80,000.00).
These new HOA dues will kick in starting Jan 1, 2008 and we anticipate, after re-evaluating the budget again for 2009, settling in at around $150.00 per month. Not too shabby. As Cal Worthington would say on his famous car commercials...if you can find lower HOA dues, I'll eat a bug.
Not.


Reader Comments (4)
what year was the condo built?
The property is a condo conversion, and the building was built in 1986.The conversion process took about 2 years, along with the rennovations, and we came to market the beginning of July '07.
What's the footage of the units, both condos and 1-bedroom plus loft?
The one bedroom is about 626, the one bedroom + loft is just under 800.