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October 2007 ISSUE
We do not make jokes, we simply watch the LA Times, the Orange County Register and CID/HOA board of directors and report the facts!
Mos
So the number of people that lived in associations and complained about them is 69/75 = 92%. This is in stark contrast to Community Association Institute's (CAI) claim that 95% of the people living in associations love them
In
the article titled , YOUR
HOME AS THE GROUP'S CASTLE
published September 30, 2007 by the Wall Street
Journal, the author cites results from a survey of 3,000
newsletter subscribers
conducted by ServiceMagic.com,
a Golden, Colo.-based as “69% of homeowners polled
said associations are either a "major
headache" or a "minor annoyance,"
though 25% of respondents had not lived under an
association”, mentions
two most frequently common interest development (CID)
complaints: “Unexpected
increases in dues and unwelcome rule changes”, then
goes on to advice on what potential CID buyers should
do before they buy--- the CZ Masters Association is no
stranger to these complaints.
An
astute blogger noting that figures do not lie but
liars figure – comments on
how the numbers were
reported in the survey:
69% of respondents (out of 100%) claim problems ranging from minor annoyance to major headache. But 25% (out of that 100%) never lived under an association. So only 75% of the respondents lived in an association. So the number of people that lived in associations and complained about them is 69/75 = 92%. This is in stark contrast to Community Association Institute's (CAI) claim that 95% of the people living in associations love them. Looks more like 92% have issues with them according to this survey"
Buzz:
We specifically sold an investment condo with positive
cash flow because the HOA Board so screwed up the
Association’s finances that I feared the need for
significantly escalating dues would ultimately
negatively impact value. They were already at
$325 a month when we sold with $3.5 million in repair
work that needed to be done and no Reserves to do it.
The only option that did not require a vote of the
Members was 20% dues increases every year as far as
the eye could see to both cover these repairs and
eventually deal with Reserves that were down to almost
nothing.
CZ
probably needs to spend about $3 million or more on
landscaping renovation now with no money to do it or
in Reserves to cover it. Mezger was always
bragging about getting Reserves up to 70% or more; but
there is no money in Reserves to cover landscaping
renovation. So Mezger’s argument was
bogus. When and how does the current CZ Board
plan to deal with landscaping renovation? There
is no strategic plan to deal with this ticking time
bomb. And, unless the CZ Board deals with
subsidies going to non-members, the only way to deal
with this major expense is significant dues increases
for our Members. It is what it is. Why do
you think I keep sounding the alarm bells about
subsidies? Be assured, I am not chicken little.
I know what I am talking about. JM
P.S. It would cost $300,000 or more just to do the face of The Woods and there are many more areas that need major work too
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