But Don’t HOAs Protect Property Values?

LOL! That’s the lie I’ve been railing against for the past half dozen years.

No, HOAs absolutely DO NOT protect property values. And across the country, homeowners are learning about that the hard way. The latest hair-raising story comes from North Carolina.

Police in Wake and Johnson counties confirm they’re investigating possible embezzlement of more than a half million dollars from more than two dozen Homeowners Associations managed by Kornerstone Community Management.

Let’s see, I’ve got a home in The Wellington HOA I’d like to sell. Oh, a special assessment? To cover all embezzlement costs? Now, where did my prospective buyer go? Guess I’ll have to lower the asking price again.

No, your HOA does not protect your property values.

(link to WNCN-CBS news in Raleigh, North Carolina)

 

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.

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Your email address will not be published.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.