OK, the biggest reason for a Homeowners Association is to protect property values. Right? Well, let’s visit another of hundreds of thousands of parallel cases around the country. This one involves the Big Wood Springs HOA in Winnsboro, Texas.
I’ve lived in Texas, El Paso and San Antonio, and even as a kid I knew how powerful some of those winter and spring storms could be.
Members of this HOA were trapped when a December storm damaged the only bridge that separates them from the rest of the world. They need tens of thousands of dollars to repair the bridge along with a number of HOA roads which were damaged by the rains. Emergency vehicles can’t reach them, visiting nurses can’t reach elderly homeowners. Government agencies can’t help out because the damaged bridge is on private property. It’s illegal to use state funds to improve or repair privately-owned structures.
The problem is that the former HOA treasurer was recently arrested for embezzling 60 to 80 thousand dollars from the neighborhood’s budget. Now, there’s no money left for the emergency repairs.
Who’d have thought? Who’d have thought that an embezzler could cause an emergency that would risk the lives of an entire community?
What are your property values now, Big Wood Springs?