Neighbors forcing neighbors into foreclosure

[flintlock]

Re: Neighbors forcing neighbors into foreclosure

Sounds like hell. :p

Give me a secluded 300 sq ft home surrounded by forest and I will be happy.

Me too. The wife wouldn't go for it though.

[flintlock]

Re: Neighbors forcing neighbors into foreclosure

Play tennis during the day. It stays light till 8 you know.

I don't even play tennis. I was against the lighting, but apparently, if you want to do ALTA(Atlanta Lawn Tennis Association), you have to have lights. And supposedly having ALTA tennis was better for resale. That was the rationale at least.

We've had plenty of foolish and stupid purchases. Like digging up a perfectly good landscape job to replace it. Just this month, we got a new sign at the entry. I thought the old one looked fine.

Everyone says they don't want an HOA until the neighbor from hell moves next door. They can literally make your home unsellable. In Atlanta, there is a guy who wanted the city to allow him to split his lot into two lots. They wouldn't so he painted his house Orange and Blue, Put Florida Gator stuff all over the yard and painted "THE SWAMP" across the roof. lol. I pass it almost every day.

http://www.gatorsports.com/article/2...NEWS/812051001

[karim0028]

Re: Neighbors forcing neighbors into foreclosure

No doubt about it, when you buy into a community like that, you are assuming some risk. Of course buying a home with no HOA can be risky as well. Personally, I wouldn't buy a home without HOA protection unless I had at least about 2 acres of buffer, or the house values were high enough to virtually guarantee people took care of their homes and tended to be responsible.

Even then no guarantee of that. My brother lives in a gated community of about 20 homes. Probably $800,000 up to 3 million. The Televalgelist down the street built a gaudy house with 25 foot tall statues of Cobras and other Bizzare Egyptian looking motifs. lol. The HOA fought him but I think his attitude was, "fine me all you want, I have plenty of money." ( the church's money of course!)

Well, one thing to keep in mind is my comments with regard to HOA's primarily reflect the living conditions of middle class; 100-500K, not really the million dollar plus (circa 1997, not the 2006 million, bc that was really 300K worth)... High end houses can hurt, but they rarely die...

Middle of the road houses can usually collapse and then your stuck with condos/HOA that go broke and die like they did in FL, AZ, etc....

The dynamic really changes when your up in the high end houses... If your living in 2-3MM+ homes by all means have all the HOA's and fines/fees you want bc there its not usually a big expense of the overall value of the house and actually may add value to that clientele (the kind who don't mind litigating over the slightest thing and can afford to do so)...

The cookie cutter crap of FL, CA and AZ that could usually double as rental property though rarely add anything...

[cjppjc]

Re: Neighbors forcing neighbors into foreclosure

I don't even play tennis. I was against the lighting, but apparently, if you want to do ALTA(Atlanta Lawn Tennis Association), you have to have lights. And supposedly having ALTA tennis was better for resale. That was the rationale at least.

Yes. Everyone knows having ALTA is better for resale. I should have guessed.:p:rolleyes:

[SeanO]

Re: Neighbors forcing neighbors into foreclosure

Right, that's what we need, more laws. ;-)

No has to buy into an HOA. If you do, you should have to pay. If you fail to pay you should get kicked out (foreclosed on).

I think the biggest problem is that buyers don't bother to read what they are agreeing to before they buy (much like the problem we've had with loans and folks not taking the time to understand negative equity and rate resets).

I have a feeling folks will better appreciate "Caveat emptor", when this cycle is done.

[karim0028]

Re: Neighbors forcing neighbors into foreclosure

Right, that's what we need, more laws. ;-)

No has to buy into an HOA. If you do, you should have to pay. If you fail to pay you should get kicked out (foreclosed on).

I think the biggest problem is that buyers don't bother to read what they are agreeing to before they buy (much like the problem we've had with loans and folks not taking the time to understand negative equity and rate resets).

I have a feeling folks will better appreciate "Caveat emptor", when this cycle is done.

Sean, In the end you and flintlock are right... No one forces anyone to buy into an HOA.... All i know is i wont be buying into an HOA bc for the life of me, i cant find where it makes sense.... I don't take orders well and dont like being subject to anyone and my home is the last place i would want to be dictated to ;)