But My HOA Protects My Property Values!

If you believe that, then you’re visiting the wrong shrink!

No, Your HOA absolutely does not protect your property values. Your HOA is there to keep track of your net worth. Your net worth (not just your home value) is pledged to a community pool which can be used whenever necessary to cover the cost of lawsuits, repairs, maintenance, insurance, embezzling board members.

All neighborhoods age, that’s just a fact of life. But developers get special breaks for cramming more homes into smaller spaces, and often those developers are just self-centered and financially motivated to cut corners. Meanwhile, building inspectors look the other way knowing it’ll be years before construction problems start becoming apparent.

When a mortgage or financial crisis hits and HOAs don’t maintain the common areas wild things start happening. A few homeowners lose their homes. Then a few more. Suddenly, there’s not enough money in the budget to maintain the common areas. More homes or condos are turned into rentals. Crime increases. More lawsuits are filed. Then it gets especially messy as the entire neighborhood collapses. Who’s still around to claim, “Our HOA protects property values?”

A prime example is linked below:

(Georgia condo complex gets trashed)

 

 

Please follow and like us:

Please follow & like us :)

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.

1 thought on “But My HOA Protects My Property Values!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.