1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

Homeowners Assoc. Sells Woman's House Over $420 Fee

Discussion in 'BBS Hangout' started by Jeff, Apr 28, 2005.

  1. drapg

    drapg Member

    Joined:
    Mar 18, 2002
    Messages:
    9,683
    Likes Received:
    2
    Damn. I am buying a townhome in May and this news scares the hell out of me!
     
  2. Supermac34

    Supermac34 President, Von Wafer Fan Club

    Joined:
    Mar 31, 2000
    Messages:
    7,110
    Likes Received:
    2,457
    Wow...in NW Houston Champions area, custom home prices have appreciated dramatically in the last few years. Old and new prices have skyrocketed.
     
  3. updawg

    updawg Member

    Joined:
    May 20, 2002
    Messages:
    3,985
    Likes Received:
    166
    I agree with Pole, I don't like them but they are somewhat of a necessary evil for new cookie cutter neighborhoods in the burbs. Once a neighborhood is estavlished it would be nice if they went away, but I doubt that ever happens
     
  4. Dubious

    Dubious Member

    Joined:
    Jun 18, 2001
    Messages:
    18,318
    Likes Received:
    5,090
    #1 Only a frigging idiot would lose a house to a HOA. It ain't that hard...hell sell your dam house and pay off the $420

    #2 You know what the deed restrictions are before you buy the house. If it's not a standard you want to live up to, don't buy the house.

    Of course individual hardships happen but no HOA is going to press the issue if you communicate with the people, they are your neighbors.


    (I have written deed restrictions fo a couple of developments)

    But let's say you bought a nice house, you spend some money on it and the tax value is up to, say, $300,000, You have to change jobs and move so you need to sell quickly. Well your new neighbor just painted his house purple to match his 1968 Charger that's out in the driveway on blocks, he hasn't mowed yet this year, has a grage sell every weekend, and his wife cuts hair with her salon sign out in front. Good luck getting your $300,000.

    Deed restrictions are inteded to preserve property value. That takes some risk out of owning in a particular subdivision and that makes that subdivision more marketable.
     
  5. Pole

    Pole Houston Rockets--Tilman Fertitta's latest mess.

    Joined:
    Feb 15, 1999
    Messages:
    8,570
    Likes Received:
    2,738
    Karma is a b****.

    I just got home to a letter from my HOA. I've got to move my boat out of the driveway as it is a deed restriction, and it's too big for my garage. Looks like I've got to find storage. Oh well.....that's a hundred bucks or so a month I didn't really need.
     
  6. Oski2005

    Oski2005 Member

    Joined:
    Nov 14, 2001
    Messages:
    18,100
    Likes Received:
    447
    You see! It's madness! Maaaaaaaaadness I tells ya!
     
  7. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    oh, it's not??? that's EXACTLY what home values in the area I live in have done. for 40 years...nothing but appreciation.
     
  8. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    in general...i agree with this. seriously...deed restrictions were explained before i ever got to closing...in my case they weren't a big deal. i was told what the HOA fees would be per year. I signed the dotted line. And I knew they could foreclose if I didn't pay them.

    the problem is in the abuse of HOAs. that's it. they're abused. and perhaps their power needs to be tempered because man seems to find a way to abuse any power offered to him.
     
  9. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    46,640
    Likes Received:
    33,647
    For the same reasons that Dubious said, you don't want Joe Neighbor putting up a pink fence and painting his house puke green. I've driven through neighborhoods with strong HOA enforcement and driven through neighborhoods with very weak or no HOA enforcement. There's a lot of differences to be seen. If I'm driving around looking for a house, I'd rather buy one in an area that looks maintained than one where every other house has lawns that haven't been mowed for 2 months, gutters falling off, etc.
     
  10. codell

    codell Member

    Joined:
    Aug 26, 2002
    Messages:
    19,312
    Likes Received:
    715
    It isn't?

    im about to sell my home and ill be making a nice $30K profit that has accumulated since I bought it 3 1/2 years ago

    there are a TON of communities out where I live that appreciate anywhere from 3-5% per year
     
  11. meggoleggo

    meggoleggo Member

    Joined:
    Aug 21, 2003
    Messages:
    4,402
    Likes Received:
    48
    What's wrong with pink and puke green? Some of the houses in Hyde Park (Austin) have that very same color scheme! And that HOA is one tough cookie too.
     
  12. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    and have done so for decades.
     
  13. pirc1

    pirc1 Member

    Joined:
    Dec 9, 2002
    Messages:
    14,137
    Likes Received:
    1,882
    I haven't had any problem with my HOA so far, only been here half a year. However, they should definately contact the owner in person before they resort to forclosing on their home.
     
  14. Fatty FatBastard

    Joined:
    Jul 13, 2001
    Messages:
    15,916
    Likes Received:
    159
    Do y'all live in Houston?!?

    Let's do this. Find a home in your community in the $1-200,000 range. Find its value. Then we'll come back on this in a couple of years.

    The problem with suburbia is that it is constantly producing new homes. Used homes have to be sold at a discount to get people to buy them.

    If you live in a suburb, and are about to make $30k profit after 3 years, thank your lucky stars. It isn't the norm.
     
  15. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    46,640
    Likes Received:
    33,647
    The average home value goes up about 5% a year according to historical data (if I remembered that correctly). But in the Dallas burbs people have been making a killing the past decade in areas such as Plano, Richardson, Frisco, etc. Several people saw their homes appreciate in value over $25,000 - $50,000 in a 5-8 year period. Now, whether or not you'll get a buyer to buy at your appraised value is another story, but tons of people here have done so. Several California real estate investors were buying up homes in the Dallas area due to the cheap costs in comparison to California. They'd either flip them upon appreciation or use them as rental properties. The housing boom has slowed down a bit due to the increase in interest rates, but to dismiss that yes, people were banking over the past 5-10 years in "the suburbs", is silly. It was happening.

    In the Frisco area, homes that used to sell for $175,000, you can't get for under $200,000 now. It's been a new home market and will continue to be one for a while, but in the meantime, people that don't want to move out to the still developing "outer" burbs are gladly paying a premium for existing construction in the "nearer burbs".
     
  16. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    46,640
    Likes Received:
    33,647
    But that's the point :

    You have a common theme possibly in that area - that color scheme probably fits with that scheme. It may fit within the guidelines of what the HOA says is "ok". If I lived in an area of red-brick houses and a puke green and pink house went up, that would be what the HOA should stop. The HOA should enforce what the majority of its residents wants. If they say that puke green and pink is OK, then I should know that going in... and abide/suffer by it.

    BTW, puke green and pink are nasty. Damn Austin. :D
     
  17. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    i live in houston. are you saying that west houston/memorial area is not the suburbs?? if you're saying it's not the suburbs, that's fine...we're just defining terms wrong. but outside the loop on Memorial Drive, west to Eldridge, north to I-10, south to Westheimer....that area has increased in property value for literally 40 years. homes that were $250K 10 years ago now go for around $400-$500K.
     
  18. Fatty FatBastard

    Joined:
    Jul 13, 2001
    Messages:
    15,916
    Likes Received:
    159
    Yes, I'm saying that area is not the suburbs. To me the burbs in houston are: Kingwood, The Woodlands, Sugarland, Katy, Baytown, Pearland, Missouri City, and Champions.
     
  19. Faos

    Faos Member

    Joined:
    May 31, 2003
    Messages:
    15,370
    Likes Received:
    53
    You could get stuck to someone who wants to build a real life Simpson's house.

    [​IMG] Simpsons House
     
  20. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    cool...i agree. particuarly with Katy. if you buy a home there right now, you're probably stuck there a while....way too much new development...why by the used house when you go down the street and have one built exactly the way you want?
     

Share This Page