HOA

Home Owners Association or Property Owner Association (POA) Is a private association often formed by a real estate developer for marketing, managing and selling homes in a subdivision or development. Once a certain amount of homes have sold the developer passes control to the homeowners. Any person who wants to move into this subdivision will need to become a member and obey the governing documents which typically include articles of incorporation, CC&Rs (convents, conditions and restrictions) and by-laws, which limit owner’s choices. So no purple home with pink dots unless the HOA approves it. Most HOAs are incorporated, and are subject to state statues that govern non profits. 

HOA’s typically hire a management company that does the administration portion and there is a broad which is typically home owners in that specific subdivision. Most HOAs have anual dues that are due Jan 31st of every year. Some newer subdivisions now have what they call a foundation fee, or capitalization fee and this fee is charged to the buyer at the item of purchase from the builder and sometimes it will be changed every time the house sells until that provision exists. Some have it to where both the buyer and seller pay, sometimes only the buyer pays. Most closings I had last year (2019) had 1. Capitalization fee or foundation fee. 2. Transfer fee. and 3. HOA yearly dues prorated to the day of closing. After you close on the property you will be responsible for payment of the yearly dues. The HOAs can also charge you a fine that typically comes after they have sent you a notice of a violation which gave you time to remedy the problem, if not resolved within that time frame a violation will be issued. 

Anyone looking to buy in a neighborhood with an HOA should read all the documents before they agree to purchase. I strongly encourage you to do so even if they are boring to read.

Make sure to pay your dues by January 31st to avoid any interest on late payment charges.

If you have any questions feel free to reach out to me.

4 Challenges That Come with Marketing Your Own Home

If you’re looking to list your home this year, we have some good news—2020 is forecasted to be a seller’s market, which means most properties will sell quickly and for a higher price than normal. Although buyers are scrambling to find somewhere to settle down, even the most desirable homes still need some marketing to attract a broader audience.

Thinking about selling without the help of an agent? Here are four challenges you might not have thought about—and why you should probably consider working with a pro instead. 

Reaching Out to Buyers

Laptop and phone

Real estate is always evolving, and nowadays, most homebuyers are using the internet, apps, and more to do their research before scheduling an in-person tour. That means if you want to reach an even broader audience, you’ll have to look further than just Zillow. With so many new platforms to choose from, It’s hard to know where to promote your listing—but working with an agent will open the door to even more options (and mean less work for you!).

Not sure where to start? Working with a licensed real estate expert will give you access to the Multiple Listing Service (MLS), which is the number one way that buyers search for homes. The right agent will reach out to their broad network of contacts, host open houses, take advantage of social media, and feature your home on top real estate apps.

Taking Professional Photos

Man holding a camera

Now that we’ve entered the digital age of real estate, it’s essential to get your space looking its best on a screen. Wondering how to make an unforgettable first impression? High-quality listing photos can help lure buyers into your home, especially if you highlight its best features. 

Although smartphone cameras have come a long way, they still can’t hold a candle to the power of a professional photographer. If you want a picture-perfect listing, working with a pro is the way to go—they’ll use the right angles and lighting to make your home appear bigger and brighter. Agents can even create virtual tours and take aerial photographs, which allow buyers to get an in-depth look at your home from the comfort of their couch.

Perfecting Your Listing

Women using a computer

Want to craft a flawless listing? It’s not as easy as you might think. Most buyers prioritize price, square footage, and the number of bedrooms and bathrooms—and you should include all of these in your home’s description. However, there’s more to it than just mentioning the basics. 

Because many buyers preview homes online first, a good description will set your listing apart from the rest. Highlighting special features, such as outdoor entertaining space or custom cabinets, will have potential buyers falling in love at first sight. If writing isn’t your forte, you might want to consider turning to an agent instead. They’ve probably crafted hundreds of listings in your area, so they’ll know how to appeal to prospective buyers.

Pricing Right the First Time

House figure with coin stacks and alarm clock

No matter how well you market your listing, even the most beautiful homes can linger on the market if they aren’t priced correctly. Unless you have plenty of real estate experience under your belt, you could end up making a costly mistake by setting a price without the help of a specialist. If you list too low, you risk losing hard-earned equity—but asking too much will drive buyers away.

If you’re feeling a little lost, you might want to let a professional crunch the numbers for you. The right agent will be familiar with what other homes are selling for in your area, and they’ll be able to figure out how you stack up against the competition.

Take Your Next Steps

Are you ready to team up with an agent and take the hassle out of selling? Let us do the heavy lifting for you! We believe there’s no such thing as too many questions, so feel free to reach out to learn more about navigating the selling process, as well as our effective marketing strategies.