Monday, June 09, 2008
There were two interesting articles in the Herald Tribune today.
One mentioned an assessment being levied to the owners of the Renaissance building on South Tamiami Trail for repairs due to "water intrusion". The assessment is reported to be $12,910. for each home owner! It has to do with a long lawsuit that has been brewing between the builder/developers and the home owners over who's liable for water leaks that have been occurring ever since tropical storm Gabrielle hit the building in 2001. Fed up with waiting for this matter to be resolved, the HOA and management decided to get the work done and hopefully recoup their money at a latter date with a favorable outcome of the lawsuit. These kinds of surprises are the reason you should hire a well informed and knowledgeable buyer's broker to protect your side of the transaction. He has a responsibility to you to inform you of any and all pending assessments or other issues that may affect the value of your proposed home or condo.
The other article, on the front page, had a headline "Price them and they'll sell".
It spoke about Cape Coral which is just North of Fort Myers, FL and it's 41% increase in sales over last year. Basically it describes what we in the real estate business have been seeing all spring. That is the buyers are there and waiting for what they perceive as a deal. I guess Cape Coral has figured that out. In Sarasota the "good stuff" that is priced competitively is selling and the marginal properties with "average pricing" is languishing.
Check those articles out if you can at www.heraldtribune.com
One mentioned an assessment being levied to the owners of the Renaissance building on South Tamiami Trail for repairs due to "water intrusion". The assessment is reported to be $12,910. for each home owner! It has to do with a long lawsuit that has been brewing between the builder/developers and the home owners over who's liable for water leaks that have been occurring ever since tropical storm Gabrielle hit the building in 2001. Fed up with waiting for this matter to be resolved, the HOA and management decided to get the work done and hopefully recoup their money at a latter date with a favorable outcome of the lawsuit. These kinds of surprises are the reason you should hire a well informed and knowledgeable buyer's broker to protect your side of the transaction. He has a responsibility to you to inform you of any and all pending assessments or other issues that may affect the value of your proposed home or condo.
The other article, on the front page, had a headline "Price them and they'll sell".
It spoke about Cape Coral which is just North of Fort Myers, FL and it's 41% increase in sales over last year. Basically it describes what we in the real estate business have been seeing all spring. That is the buyers are there and waiting for what they perceive as a deal. I guess Cape Coral has figured that out. In Sarasota the "good stuff" that is priced competitively is selling and the marginal properties with "average pricing" is languishing.
Check those articles out if you can at www.heraldtribune.com
Labels: Assessments at Renaissance
