Dangerous To Your Personal Finances!

We’ve seen this kind of thing over and over. You buy an expensive HOA home next to a golf course or a pretty little lake. You pay an extra high premium for such a nice view.

Suddenly, it all goes away. The golf course is sold to a new developer who hatches a plan to add a whole new subdivision on top of the golf course. The pretty little lake, it turns out, is a drainage basin for the county and the county suddenly decides to drain it.

Where’s your investment? Gone, gone, gone. Welcome to HOA living.

(link to Las Vegas Review Journal story on vanishing golf course)

 

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

4 thoughts on “Dangerous To Your Personal Finances!

  1. Deb

    I lived in an HOA on a golf course. The president of the HOA who was also my landlord lived directly across the fairway. I cant believe all the stuff i got away with. I put up a plastic lattice barrier on my porch 4′ tall and also a canopy in my courtyard to thwart the golf balls. . I was a tenant and was unaware of CCR acceptable structure. It wasnt until we canceled our lease when the Pres revealed that there were many complaints regarding this but didnt tell me until 4 years later. Gotta love the power of the boards in Hoa’s.

    Reply
  2. Nila Ridings

    As we all have learned, what applies to the “pariahs” rarely applies to the board members.

    Thank you for another confirmation of that truth, Deb.

    Reply
  3. Cynthia

    Important update on thei situation, Ward:

    Hundreds attend Silverstone HOA meeting
    Residents say they want Silverstone Ranch Golf Course reopened
    Vanessa Murphy

    By Vanessa Murphy | vmurphy@8newsnow.com, Chris Benka

    Published 09/08 2015 11:00PM

    Updated 09/08 2015 11:25PM

    Entire must read article and video link:
    http://www.lasvegasnow.com/news/hundreds-attend-silverstone-hoa-meeting

    Excerpt:
    LAS VEGAS

    “Hundreds packed a room Tuesday night to fight for the Silverstone Golf Course. Silverstone is embroiled in a legal battle to keep the course open.

    Tom Ells says he and his wife retired in the Silverstone Ranch community near Rainbow Boulevard and Grand Teton for the golf course, which is now shut down.

    “It’s sad that we won’t get to play here anymore,” he said. “A lot different than we had paid for and what we had hoped for.”

    Residents say the clubhouse was locked and maintenance stopped at the course last week, after new owner Desert Lifestyles took over.

    “From indications, the developer has done this before in southern California,” said Las Vegas City Councilman Steve Ross. “He’s got a track record of not treating neighbors very well, so we’re very cognizant as the City of Las Vegas about this.””
    Another excerpt. This one sound familiar”
    ““We’ve heard that we’re not trying to do anything, just sitting around,” said HOA Board President Frank Anderson. “(That) couldn’t be further from the truth.”

    The attorney for the HOA tried to kick 8 News NOW out of the meeting, but residents invited the news media to cover the issue.”

    Reply

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