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ccutequeen
ParticipantAfter talking to some friends and ppl know more about living/buying into condo, combine with everyone’s input here, I have decided against purchase this condo. The fear of big special assessment bills base on 24% funded number overcame any other feeling I had for the place.
Just want to thank everyone for your input!!!
ParticipantAfter talking to some friends and ppl know more about living/buying into condo, combine with everyone’s input here, I have decided against purchase this condo. The fear of big special assessment bills base on 24% funded number overcame any other feeling I had for the place.
Just want to thank everyone for your input!!!
ParticipantAfter talking to some friends and ppl know more about living/buying into condo, combine with everyone’s input here, I have decided against purchase this condo. The fear of big special assessment bills base on 24% funded number overcame any other feeling I had for the place.
Just want to thank everyone for your input!!!
ParticipantAfter talking to some friends and ppl know more about living/buying into condo, combine with everyone’s input here, I have decided against purchase this condo. The fear of big special assessment bills base on 24% funded number overcame any other feeling I had for the place.
Just want to thank everyone for your input!!!
Participantsd realtor,
yes, I mean Creekwood at River Run. Its the blue and white complex pass 805 on the way to Ikea.sreeb,
Yes, according the management company, the condo just had some bigger expense in pass two years including external painting for buildings, new covering for car ports, re-surface pool and spa, replace 17 out of 18 boiler.To give a full picture of the situation, here are some the stuff that have been disclose to me.
The loan has been approved, so i guess the complex was good enough for the lender to willing to lend the money. The complex has 65% owner occupancy rate. HOA doc show 14 out of 252 are late on their HOA fee. The price is acceptable now after Bank agree to give 2500 toward closing cost, it “only” took one week of negociation.Here is the exact word in their percentage funded report:
“Based on the estimated total current replacement cost of $3,143,098 and estimated service lives and remaining useful lives for the individual reserve components, the annual reserve funding for the hoa is $248,224 and the fully funded reserve as of fiscal year end 31-Dec-2009 is $2,105,260. As of this date, the association has projected $507,398 to be in savings available for reserves. This will be a deficit of $1,597,862 under the fully funded reserve. Based on these numbers, the creekwood hoa will be 24% funded as of 31-Dec-2009”
I am simply not quite sure how to understand this report and not sure how other mission valley HOA are doing. They really should make this kind information public.Participantsd realtor,
yes, I mean Creekwood at River Run. Its the blue and white complex pass 805 on the way to Ikea.sreeb,
Yes, according the management company, the condo just had some bigger expense in pass two years including external painting for buildings, new covering for car ports, re-surface pool and spa, replace 17 out of 18 boiler.To give a full picture of the situation, here are some the stuff that have been disclose to me.
The loan has been approved, so i guess the complex was good enough for the lender to willing to lend the money. The complex has 65% owner occupancy rate. HOA doc show 14 out of 252 are late on their HOA fee. The price is acceptable now after Bank agree to give 2500 toward closing cost, it “only” took one week of negociation.Here is the exact word in their percentage funded report:
“Based on the estimated total current replacement cost of $3,143,098 and estimated service lives and remaining useful lives for the individual reserve components, the annual reserve funding for the hoa is $248,224 and the fully funded reserve as of fiscal year end 31-Dec-2009 is $2,105,260. As of this date, the association has projected $507,398 to be in savings available for reserves. This will be a deficit of $1,597,862 under the fully funded reserve. Based on these numbers, the creekwood hoa will be 24% funded as of 31-Dec-2009”
I am simply not quite sure how to understand this report and not sure how other mission valley HOA are doing. They really should make this kind information public.Participantsd realtor,
yes, I mean Creekwood at River Run. Its the blue and white complex pass 805 on the way to Ikea.sreeb,
Yes, according the management company, the condo just had some bigger expense in pass two years including external painting for buildings, new covering for car ports, re-surface pool and spa, replace 17 out of 18 boiler.To give a full picture of the situation, here are some the stuff that have been disclose to me.
The loan has been approved, so i guess the complex was good enough for the lender to willing to lend the money. The complex has 65% owner occupancy rate. HOA doc show 14 out of 252 are late on their HOA fee. The price is acceptable now after Bank agree to give 2500 toward closing cost, it “only” took one week of negociation.Here is the exact word in their percentage funded report:
“Based on the estimated total current replacement cost of $3,143,098 and estimated service lives and remaining useful lives for the individual reserve components, the annual reserve funding for the hoa is $248,224 and the fully funded reserve as of fiscal year end 31-Dec-2009 is $2,105,260. As of this date, the association has projected $507,398 to be in savings available for reserves. This will be a deficit of $1,597,862 under the fully funded reserve. Based on these numbers, the creekwood hoa will be 24% funded as of 31-Dec-2009”
I am simply not quite sure how to understand this report and not sure how other mission valley HOA are doing. They really should make this kind information public.Participantsd realtor,
yes, I mean Creekwood at River Run. Its the blue and white complex pass 805 on the way to Ikea.sreeb,
Yes, according the management company, the condo just had some bigger expense in pass two years including external painting for buildings, new covering for car ports, re-surface pool and spa, replace 17 out of 18 boiler.To give a full picture of the situation, here are some the stuff that have been disclose to me.
The loan has been approved, so i guess the complex was good enough for the lender to willing to lend the money. The complex has 65% owner occupancy rate. HOA doc show 14 out of 252 are late on their HOA fee. The price is acceptable now after Bank agree to give 2500 toward closing cost, it “only” took one week of negociation.Here is the exact word in their percentage funded report:
“Based on the estimated total current replacement cost of $3,143,098 and estimated service lives and remaining useful lives for the individual reserve components, the annual reserve funding for the hoa is $248,224 and the fully funded reserve as of fiscal year end 31-Dec-2009 is $2,105,260. As of this date, the association has projected $507,398 to be in savings available for reserves. This will be a deficit of $1,597,862 under the fully funded reserve. Based on these numbers, the creekwood hoa will be 24% funded as of 31-Dec-2009”
I am simply not quite sure how to understand this report and not sure how other mission valley HOA are doing. They really should make this kind information public.Participantsd realtor,
yes, I mean Creekwood at River Run. Its the blue and white complex pass 805 on the way to Ikea.sreeb,
Yes, according the management company, the condo just had some bigger expense in pass two years including external painting for buildings, new covering for car ports, re-surface pool and spa, replace 17 out of 18 boiler.To give a full picture of the situation, here are some the stuff that have been disclose to me.
The loan has been approved, so i guess the complex was good enough for the lender to willing to lend the money. The complex has 65% owner occupancy rate. HOA doc show 14 out of 252 are late on their HOA fee. The price is acceptable now after Bank agree to give 2500 toward closing cost, it “only” took one week of negociation.Here is the exact word in their percentage funded report:
“Based on the estimated total current replacement cost of $3,143,098 and estimated service lives and remaining useful lives for the individual reserve components, the annual reserve funding for the hoa is $248,224 and the fully funded reserve as of fiscal year end 31-Dec-2009 is $2,105,260. As of this date, the association has projected $507,398 to be in savings available for reserves. This will be a deficit of $1,597,862 under the fully funded reserve. Based on these numbers, the creekwood hoa will be 24% funded as of 31-Dec-2009”
I am simply not quite sure how to understand this report and not sure how other mission valley HOA are doing. They really should make this kind information public.ParticipantOk, to clarify, the report said something like” Base on the projected spending for the next 5 years, the hoa is 24% funded”. Then it talk about how and how much it would cost to bring hoa to 100% funded in 5 years.
60% ….hmm..this is quite far from it. I just talked to someone i know who just bought a condo. He didnt even read his hoa doc carefully. we looked at it now and it show his hoa is 17% funded.
By the way, this complex is called Creekwood river run. Anyone know anything specific about it?
ParticipantOk, to clarify, the report said something like” Base on the projected spending for the next 5 years, the hoa is 24% funded”. Then it talk about how and how much it would cost to bring hoa to 100% funded in 5 years.
60% ….hmm..this is quite far from it. I just talked to someone i know who just bought a condo. He didnt even read his hoa doc carefully. we looked at it now and it show his hoa is 17% funded.
By the way, this complex is called Creekwood river run. Anyone know anything specific about it?
ParticipantOk, to clarify, the report said something like” Base on the projected spending for the next 5 years, the hoa is 24% funded”. Then it talk about how and how much it would cost to bring hoa to 100% funded in 5 years.
60% ….hmm..this is quite far from it. I just talked to someone i know who just bought a condo. He didnt even read his hoa doc carefully. we looked at it now and it show his hoa is 17% funded.
By the way, this complex is called Creekwood river run. Anyone know anything specific about it?
ParticipantOk, to clarify, the report said something like” Base on the projected spending for the next 5 years, the hoa is 24% funded”. Then it talk about how and how much it would cost to bring hoa to 100% funded in 5 years.
60% ….hmm..this is quite far from it. I just talked to someone i know who just bought a condo. He didnt even read his hoa doc carefully. we looked at it now and it show his hoa is 17% funded.
By the way, this complex is called Creekwood river run. Anyone know anything specific about it?
ParticipantOk, to clarify, the report said something like” Base on the projected spending for the next 5 years, the hoa is 24% funded”. Then it talk about how and how much it would cost to bring hoa to 100% funded in 5 years.
60% ….hmm..this is quite far from it. I just talked to someone i know who just bought a condo. He didnt even read his hoa doc carefully. we looked at it now and it show his hoa is 17% funded.
By the way, this complex is called Creekwood river run. Anyone know anything specific about it?
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