Real Estate and foreclosure thread

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HOA horror Stories! (Out of Control!)​

Jun 6, 2024

Here are some horror stories of what can happen in a HOA when rules are out of control!


22:44
 
I stopped at four minutes. Is there any new information here? Of course, the default answer to a property with a HOA is NO!

Buying a property and accepting an HOA is like enlisting with the Turkish military, where they can give you orders that you must follow, regardless of what you expected.

Never buy into an HOA. It is that simple. If you disagree, feel free to face oppression down the road. Do you like "the system" dictating your life and punishing you for minor infractions? If that is your thing and you enjoy the punishment, maybe an HOA is for you.

And if you really enjoy getting psychopath against other people, maybe getting into a HOA board is right for you.
 
What's the legal status on HOAs and how can you exit/invalidate/challenge their authority?

The whole idea is insane. They have no ownership/equity in the property; who the HELL are they to issue orders, control your use of your own property? Government is bad enough; but with government, there's a path to redress.

Not so much a non-government body just placed in charge, and filled with idlers with too much time and low self-esteem, in need of validation, of power, of control.
 
I believe the authority of the HOA is a contractual agreement with the buyer when each sale is made. The first buyer agrees to the HOA and its rules, and also agrees to require the next buyer to agree when selling.

It seems to me that if the seller does NOT require the next buyer to agree to the HOA, the next buyer has no obligation. The HOA could go after the seller for breach of contract, but that is between those two, not the new owner.
 
In my opinion never buy into a property with a hoa.....
 
I believe the authority of the HOA is a contractual agreement with the buyer when each sale is made. The first buyer agrees to the HOA and its rules, and also agrees to require the next buyer to agree when selling.

It seems to me that if the seller does NOT require the next buyer to agree to the HOA, the next buyer has no obligation. The HOA could go after the seller for breach of contract, but that is between those two, not the new owner.

I believe they are done through Deed Restrictions and then contract law. But I hate lawyers so what do I know.
 
Homeowners’ associations (HOAs) are the governing body of many common interest communities (CIC), such as subdivisions, who manage the common areas and interests of the community. When a person buys property in a CIC, there is a legal servitude on the property that binds the owner of the property to follow the covenants, conditions, and restrictions (CC&Rs) that govern all the property in the community. ...

... When you buy the property in a CIC, you cannot opt-out of the authority of the HOA. The CC&Rs determine how broad of authority HOAs have and the limitations on enacting fees. ... As such, it is very important that homeowners look at the CC&Rs for the property they potentially buy.
...

 

Real Estate Investors Are Wiped Out in Bets Fueled by Wall Street Loans​

Lynn Nathe was growing tired of the meager gains from her family’s retirement account. In late 2021, she invested $200,000 with a company that was making 30% returns by buying the hottest ticket in global real estate: US apartments.

Now, she says, most of that money is gone.

For Nathe, a business school graduate who invested earnings from her husband’s dentistry practice in Yakima, Washington, the loss is a personal calamity. Yet the story of her ill-timed bet — and the collision of social-media fueled investing, Wall Street’s securitization machine and sharply higher interest rates — also shows how FOMO and easy money once again combined to burst an American real estate bubble.

Much of the worry over US commercial property has legitimately centered on the office market, where more than $38 billion in buildings were in distress as of March, compared with about $10 billion for apartments, according to MSCI. But multifamily buildings make up the biggest share of properties with potential distress — exceeding even offices — with more than $56 billion worth of real estate at risk of financial trouble, the firm’s data show.

More:

 
I believe they are done through Deed Restrictions and then contract law. But I hate lawyers so what do I know.
I have always found deed restrictions to be intresting....owned some land once that had a "no hog farming" restriction....owned a home once that "required shake shingle roofs" that one got ignored after a house burnt and burning shakes blew like Frisbees thru the neighborhood setting other roofs on fire
 

‘We just can’t take this anymore’: Montana man, 68, begs for ‘moratorium on property taxes’ after his bill reaches $8K a year just ‘to live in our own house’​

A senior from Montana has delivered a viral speech about the sorry state of property taxes in the Treasure State.

“I’m on Social Security, I’m 68-years-old and working just to pay my taxes,” says Kurt, in a clip shared on TikTok by Ryan Busse, who is running to be the next governor of Montana.

Kurt claims that over the last couple of years, his annual property taxes have soared from $895 to almost $8,000 — an increase of around 790% — which he says is like paying almost “$700 a month rent to the state to live in our own house.” The state has an Elderly Homeowner/Renter Tax Credit, and the maximum credit is $1,150.

“There needs to be a moratorium on what we have to pay,” he says, adding that he’s had to continue working into what should be his retirement golden years to cover his mounting property costs. “I’m stubborn enough [that] I don’t want to dig into my bank account to pay them.”

Kurt is one of thousands of Montana homeowners suffering sticker shock over recent property tax hikes. He says: “We just can’t take this anymore. This was a great place and it still is, but the people that made it great can’t afford to live here anymore.”

Here’s what’s going on in the Treasure State.

More:

 
We had/have a similar issue with high property taxes here in Texas. Thankfully, some property tax reform was passed the last year or so and it has helped, but for a while there, the taxes were getting a bit ridiculous.
 
DR Horton looking to dump a whole bunch of new properties because they can't sell them. They might bundle them to a Hedge Fund that will just rent them out. 54 neighborhoods with over 100 homes each. Looking at about $1.7 Billion in value. Look for Really cheap rent in those areas with a lot of new building.

 

‘We just can’t take this anymore’: Montana man, 68, begs for ‘moratorium on property taxes’ after his bill reaches $8K a year just ‘to live in our own house’​

A senior from Montana has delivered a viral speech about the sorry state of property taxes in the Treasure State.

“I’m on Social Security, I’m 68-years-old and working just to pay my taxes,” says Kurt, in a clip shared on TikTok by Ryan Busse, who is running to be the next governor of Montana.

Kurt claims that over the last couple of years, his annual property taxes have soared from $895 to almost $8,000 — an increase of around 790% — which he says is like paying almost “$700 a month rent to the state to live in our own house.” The state has an Elderly Homeowner/Renter Tax Credit, and the maximum credit is $1,150.

“There needs to be a moratorium on what we have to pay,” he says, adding that he’s had to continue working into what should be his retirement golden years to cover his mounting property costs. “I’m stubborn enough [that] I don’t want to dig into my bank account to pay them.”

Kurt is one of thousands of Montana homeowners suffering sticker shock over recent property tax hikes. He says: “We just can’t take this anymore. This was a great place and it still is, but the people that made it great can’t afford to live here anymore.”

Here’s what’s going on in the Treasure State.

More:

Typical of the incompetent political hacks in "news" outlets like MSN, this "article" doesn't tell us where he lives.

It matters. Missoula, Gallatin and Flathead counties (Missoula, Bozeman and Whitefish) are the three hottest areas for real estate right now. Californication is burping out people like a college coed vomiting after her first keg party; and a lot of them are rushing right out here, demanding to buy property RIGHT! NOW! Paying far over asking to close the deal immediately.

I love Montana. Been here ten years, and I'm Montanazized. Resistol hat, long sideburns, pistols, membership in a shooting club. Not the life I lived in Erie County, New York.

MSN's soft suggestion, buttressed by their "experts," was that this guy sell and move to a "lower cost" area.

Where would he move that he could live the way he lives now?

Where would he find the relative safety, without hired guards, that he has in Montana?

That toddler killed in Cleveland...was actually killed in a West Side suburb. The suburb I grew up in. That was a grocery store I traded in, regularly. And when I lived out there, 16 years ago, there weren't animals and dindu nuffinz like that "woman" wandering our streets or that store.

There are now. I escaped it to Montana. And now, Californicators with more money than brains, are gonna out-bid me and this guy. We'll be forced back into the ghettos the Elites are making for Deplorables.
 
Californication is burping out people like a college coed vomiting after her first keg party; and a lot of them are rushing right out here, demanding to buy property RIGHT! NOW! Paying far over asking to close the deal immediately.

Made me smile with this. Need to do some more writing:


You have a way with words (y)
 
Made me smile with this. Need to do some more writing:


You have a way with words (y)
A life lived, my friend. Lived...if not well, at least busily. I write about what I know. And lordy, I know more than I should.

Interesting, though. In the shower, the other day, I was contemplating a sequel...there's places that can go. Captain Savahoe is older, reunited, for a task, with baby-momma...more drama, in a wet Midwestern winter...
 
Just keep writing! I am a programmer, and I like some kinds (embedded), but it does not matter what I am programming, it always goes better as I do more. I can always go back and trim out code that is not so good. And then I keep on going.

As an author, you will write a lot that you later cut out. So what?! You are building a story. Keep building it.
 

‘We just can’t take this anymore’: Montana man, 68, begs for ‘moratorium on property taxes’ after his bill reaches $8K a year just ‘to live in our own house’​

A senior from Montana has delivered a viral speech about the sorry state of property taxes in the Treasure State.

“I’m on Social Security, I’m 68-years-old and working just to pay my taxes,” says Kurt, in a clip shared on TikTok by Ryan Busse, who is running to be the next governor of Montana.

Kurt claims that over the last couple of years, his annual property taxes have soared from $895 to almost $8,000 — an increase of around 790% — which he says is like paying almost “$700 a month rent to the state to live in our own house.” The state has an Elderly Homeowner/Renter Tax Credit, and the maximum credit is $1,150.

“There needs to be a moratorium on what we have to pay,” he says, adding that he’s had to continue working into what should be his retirement golden years to cover his mounting property costs. “I’m stubborn enough [that] I don’t want to dig into my bank account to pay them.”

Kurt is one of thousands of Montana homeowners suffering sticker shock over recent property tax hikes. He says: “We just can’t take this anymore. This was a great place and it still is, but the people that made it great can’t afford to live here anymore.”

Here’s what’s going on in the Treasure State.

More:

Over $1000/mo in NY/NJ
 
... Fitch Ratings has come out with an updated analysis of the US office market, and it doesn’t see the bottom just yet. Far from it.

“CRE office loan performance will continue to weaken as market pressures build,” it said about office loans backing the Commercial Mortgage-Backed Securities (CMBS) it rates.

It maintains its “’deteriorating’ outlook” on the office sector through 2024, ...

More:

 

They put a Fence through the Neighbors house! (Must Watch!)​

Jun 13, 2024

Property line disputes can be pretty wild.


14:03
 

Officials put a FENCE through their own building! (MUST WATCH!)​

Jun 14, 2024

Here is an example when Officials in Real Estate do dumb things.


10:42
 
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