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  • March 29, 2011 at 4:05 PM #682680
    PCinSD
    Guest

    When my friend purchased her unit, the HOA fee was approx. $197/month. Then they realized that they were underfunded and began gradually raising the fee. The last fee hike was from approx. $380 to the $415.

    The one time assessment never happened because (not surprisingly) the owners voted it down. Most owners feel that if there is a problem with their particular balcony – they’ll fix it themselves. Most of them don’t even get used, particularly the ones off the 2nd floor.

    The units in this complex are pretty nice, with a much lower HOA fee, but they are a bit more expensive.

    http://www.sdlookup.com/MLS-110016957-1535_Northrim_Ct_251_San_Diego_CA_92111

    March 29, 2011 at 8:17 PM #681574
    SDisGreat
    Participant

    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…

    i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…

    i see other units in sd with 700 hoa and they aren’t even downtown condos…. OUCH…

    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….

    March 29, 2011 at 8:17 PM #681627
    SDisGreat
    Participant

    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…

    i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…

    i see other units in sd with 700 hoa and they aren’t even downtown condos…. OUCH…

    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….

    March 29, 2011 at 8:17 PM #682247
    SDisGreat
    Participant

    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…

    i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…

    i see other units in sd with 700 hoa and they aren’t even downtown condos…. OUCH…

    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….

    March 29, 2011 at 8:17 PM #682387
    SDisGreat
    Participant

    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…

    i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…

    i see other units in sd with 700 hoa and they aren’t even downtown condos…. OUCH…

    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….

    March 29, 2011 at 8:17 PM #682740
    SDisGreat
    Participant

    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…

    i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…

    i see other units in sd with 700 hoa and they aren’t even downtown condos…. OUCH…

    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….

    March 29, 2011 at 8:41 PM #681589
    bearishgurl
    Participant

    [quote=SDisGreat]…i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…[/quote]

    SDisGreat, have you ever checked out single-family homes in Chula Vista (91910)? Most of these $260K+ (asking price) properties are situated in very good, established neighborhoods with above-average size lots. Although 30 mins from USD and 45+ mins from UCSD in rush hour, The bulk of these 700-1200 sf homes have larger lots on peaceful blocks and are very well located one mile or less from the bayfront. Most are “cosmetic-fixers” needing “superficial” interior upgrading.

    Of course, there are no Mello Roos or HOA’s involved with these properties.

    SD Dtn commute is 11-18 mins depending on surface st/fwy taken.

    Just a suggestion, not knowing where your employment is.

    March 29, 2011 at 8:41 PM #681642
    bearishgurl
    Participant

    [quote=SDisGreat]…i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…[/quote]

    SDisGreat, have you ever checked out single-family homes in Chula Vista (91910)? Most of these $260K+ (asking price) properties are situated in very good, established neighborhoods with above-average size lots. Although 30 mins from USD and 45+ mins from UCSD in rush hour, The bulk of these 700-1200 sf homes have larger lots on peaceful blocks and are very well located one mile or less from the bayfront. Most are “cosmetic-fixers” needing “superficial” interior upgrading.

    Of course, there are no Mello Roos or HOA’s involved with these properties.

    SD Dtn commute is 11-18 mins depending on surface st/fwy taken.

    Just a suggestion, not knowing where your employment is.

    March 29, 2011 at 8:41 PM #682262
    bearishgurl
    Participant

    [quote=SDisGreat]…i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…[/quote]

    SDisGreat, have you ever checked out single-family homes in Chula Vista (91910)? Most of these $260K+ (asking price) properties are situated in very good, established neighborhoods with above-average size lots. Although 30 mins from USD and 45+ mins from UCSD in rush hour, The bulk of these 700-1200 sf homes have larger lots on peaceful blocks and are very well located one mile or less from the bayfront. Most are “cosmetic-fixers” needing “superficial” interior upgrading.

    Of course, there are no Mello Roos or HOA’s involved with these properties.

    SD Dtn commute is 11-18 mins depending on surface st/fwy taken.

    Just a suggestion, not knowing where your employment is.

    March 29, 2011 at 8:41 PM #682401
    bearishgurl
    Participant

    [quote=SDisGreat]…i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…[/quote]

    SDisGreat, have you ever checked out single-family homes in Chula Vista (91910)? Most of these $260K+ (asking price) properties are situated in very good, established neighborhoods with above-average size lots. Although 30 mins from USD and 45+ mins from UCSD in rush hour, The bulk of these 700-1200 sf homes have larger lots on peaceful blocks and are very well located one mile or less from the bayfront. Most are “cosmetic-fixers” needing “superficial” interior upgrading.

    Of course, there are no Mello Roos or HOA’s involved with these properties.

    SD Dtn commute is 11-18 mins depending on surface st/fwy taken.

    Just a suggestion, not knowing where your employment is.

    March 29, 2011 at 8:41 PM #682755
    bearishgurl
    Participant

    [quote=SDisGreat]…i rather buy a home for 260k w/o hoa fees then pay 200k and $415 a month…[/quote]

    SDisGreat, have you ever checked out single-family homes in Chula Vista (91910)? Most of these $260K+ (asking price) properties are situated in very good, established neighborhoods with above-average size lots. Although 30 mins from USD and 45+ mins from UCSD in rush hour, The bulk of these 700-1200 sf homes have larger lots on peaceful blocks and are very well located one mile or less from the bayfront. Most are “cosmetic-fixers” needing “superficial” interior upgrading.

    Of course, there are no Mello Roos or HOA’s involved with these properties.

    SD Dtn commute is 11-18 mins depending on surface st/fwy taken.

    Just a suggestion, not knowing where your employment is.

    March 30, 2011 at 9:45 AM #681735
    ljinvestor
    Participant

    [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.

    March 30, 2011 at 9:45 AM #681789
    ljinvestor
    Participant

    [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.

    March 30, 2011 at 9:45 AM #682409
    ljinvestor
    Participant

    [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.

    March 30, 2011 at 9:45 AM #682549
    ljinvestor
    Participant

    [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.

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