[quote=SDisGreat]i can’t believe that they underfunded their account, now the current homeowners are definitely feeling it in lower sale prices…
the purchasing power on $415/month is roughly 60k…
so what happens when units like these have too many foreclosures and short sales and owners don’t make their monthly dues? i am assuming the currently homeowners have to pick up the monthly losses in increase HOA fees….[/quote]
Many large condo associations in San Diego have underfunded accts because of either poor planning and/or foreclosures
Purchase power closer to 75k with the current 30yr rate @ 5%
Yes, current homeowners eventually get stuck with the bill.
