condominiums Archives - Property Blotter

February 6, 2022February 6, 2022

The Importance of a Great Backyard

Backyards are truly something to be enjoyed. They expand the living area of a house and are the location for making memories in solitude, as well as with friends and family. When I show houses and we walk outside to find a really great backyard, it is the cherry that tops the cake of a great house. Here are 8 ideas for creating that great backyard.

Connect the indoors to the outdoors with big windows and easy access doors. From inside, you’ll enjoy looking out and having the opportunity to enjoy the yard every day of the year.
Create an outdoor workspace. Trees and landscaping make a wonderful backdrop to Zoom meetings. In addition, working outside on a nice day is a bit of a gift that you can give to yourself. To do this, you’ll need strong wifi, an exterior electrical outlet, and a sturdy table.
Let’s talk al fresco. I reguarly do large dinners for my family in my yard. When we gather there usually about 15 people. I put tables end to end to create one large dining table. I then use linens and my good china. It feels so luxurious! A covered area in which to dine, along with an outdoor heater, makes this possible any month of the year.
Add some entertainment potential. Again, a good table for board games, and perhaps a mounted television to watch football and movies.
Establish a wildlife habitat. I no longer feed the birds (there was a certain squirrel incident), but I do put out water. I have 5 birdbaths. If they go empty, the birds will literally sit on the rim and squack at me. Landscaping is also a great idea for attracting birds.
Make your yard pet friendly by fencing it. Today the fencing choices are plentiful, including fences that barely obstruct your viewing of the entire yard.
Just like the rest of the house, clutter is a big no no. Store the clutter elsewhere. Particularly when selling the house, it needs to be tidy.
Privacy is super important. If you have a house that looks into your yard, plant a tree or a hedge. In my case, my husband built a privacy screen that goes about 20 feet. Just enough to block my neighbors windows.

I hope that you have found this helpful. Thanks again for reading the blotter!

Dianne

February 4, 2022February 4, 2022

Market Activity Jan 24-30, 2022

The market is still in what I would call “winter mode” with just 2 new listings. 15 pending sales, and 11 sold/closed transactions. The new listings number is a bit in accurate. This is because in reality houses and condos are selling so fast that they go into pending status prior to the market activity report being written. 12 of the 15 pending sales sold in less than a week. This means that the new listings are more accurately 14 or so. I pull the data usually on Tuesday or Wednesday.

I’ve also heard it said that the spring market really kicks off the weekend following the super bowl. Watch for the new listings to kick into gear in the next few weeks.

See below for further RMLS data.

New Listings Jan 24-30, 2022

Address	Type	Price	BR	Baths	Sq Ft
16 Oriole Ln	Detached	$599,950	2	2	1520
15012 Twin Fir Rd	Detached	$2,599,000	5	3.5	3897

Pending Sales Jan 24-30, 2022

Address	Type	Price	BR	Baths	Sq Ft	CDOM
45 Eagle Crest Dr #202	Condo	$215,000	1	1	678	43
44 Eagle Crest Dr #39	Condo	$269,900	2	1	1085	0
16250 Pacific Hwy #45	Condo	$349,000	2	2	1311	45
525 Jean Rd 4501	Condo	$399,900	3	2	1500	3
5788 Kimball Ct	Detached	$530,000	4	1.5	1148	4
871 Country Club Rd	Detached	$569,000	3	1.5	1449	5
5309 West Sunset Dr	Detached	$611,000	4	2	1449	5
5207 Coventry Ct	Detached	$759,698	3	2	1858	3
351 3rd St	Attached	$924,900	3	3.5	2042	3
837 Oak St	Detached	$999,950	3	2.5	2796	5
580 Weidman Ct	Detached	$1,100,000	5	3.5	3952	5
12975 Elk Rock Rd	Detached	$1,379,000	5	3.5	4569	4
589 7th St	Detached	$1,549,000	5	4.5	3387	3
21 D Ave #9	Condo	$2,000,800	2	2.5	2411	0
13649 Goodall Rd	Detached	$2,499,900	4	4.5+.5	5288	56

Sold/Closed Jan 24-30, 2022

Address	Type	List Price	Sold Price	Sq Feet	DOM
572 State St 8C	Condo	$324,900	$317,500	914	47
16250 Pacific Hwy #75	Condo	$355,000	$350,000	1593	29
1694 Bonniebrae	Attached	$415,000	$445,000	864	2
16191 Lake Forest Blvd	Detached	$550,000	$550,000	864	14
1247 Cedar St	Detached	$550,000	$600,000	2,022	9
6472 Dawn St	Detached	$695,000	$624,016	1032	110
12363 Clara Ln	Detached	$699,999	$709,000	1390	3
770 5th St	Detached	$975,000	$975,000	3180	45
1011 Spruce St	Detached	$1,049,000	$1,019,000	2101	4
6720 Childs Rd	Detached	$2,395,000	$2,200,000	6898	64
1475 Oak Terr	Detached	$4,349,000	$4,100,000	3674	114

Criteria:Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

January 23, 2022January 23, 2022

The Best Playground, Ever

The playground at Hallinan Elementary School is, in my opinion, the best playground that I have experienced with both my kids and with my grand kids. It’s HUGE with so many slides, things to climb on, and a vast array of simple to complex physical challenges for kids.

Before I moved to Lake Oswego, over 20 years ago, I lived in SE Portland. I must have discovered this playground while showing houses in the neighborhood. After I found it, I began driving to Lake Oswego with my children to enjoy it with them.

Along with the playground, there is a huge field that has a walking path around it. When my kids got older, I could bring them there and take a walk while having a visual on them as they played.

Bear in mind that it’s only available when school is not in session. The school is located at 16800 Hawthorne Dr in the Hallinan neighborhood of Lake Oswego.

Get out there and enjoy the fresh air with your kids and your grand kids! And, as always, thanks for reading the blotter.

Dianne

December 16, 2021December 16, 2021

Market Activity Dec 6-12, 2021

While a bit slower than the market when we are not in the Holiday Season, real estate continues to chug along. Last week in Lake Oswego there were 8 new listings, 17 pending sales, and 13 sold/closed transactions. That is strong activity for this time of year.

See below for RMLS data.

New on the Market Dec 6-12, 2021

Address	Type	Price	BR	Baths	Sq Ft
4000 Carman Dr #92	Condo	$349,000	2	2	999
16250 Pacific Hwy #75	Condo	$355,000	3	2	1593
200 Burnham Rd #206	Condo	$358,000	2	1	1199
4 Preakness Ct	Attached	$550,000	3	2	1985
8 Pheasant Run	Detached	$649,950	4	2.5	1845
1720 Kilkenny Dr	Detached	$685,000	3	2.5	1348
17617 Sydni Ct	Condo	$799,900	5	2.5	2634
18000 Sarah Hill Ln	Detached	$1,999,900	4	2.5	3280

Pending Sales Dec 6-12, 2021

Address	Type	Price	BR	Baths	Sq Ft	CDOM
100 Kerr Pkwy #19	Condo	$170,000	1	1	617	52
100 Kerr Pkwy #51	Condo	$179,000	1	1	617	7
58 Galen St	Condo	$209,900	2	1	689	25
9 Oswego Summit	Condo	$218,000	1	1	764	6
44 Eagle Crest Dr #36	Condo	$250,000	2	1	903	3
4000 Carman Dr #81	Condo	$289,000	2	2	1129	4
86 Kingsgate Rd E-203	Condo	$325,000	2	2	924	3
4429 Thunder Vista Ln	Condo	$459,900	2	2.5	2002	111
1455 Hallinan St	Detached	$639,900	3	2.5	1325	5
52 Northview Ct	Attached	$649,900	3	2.5	2198	3
17347 Ashley Ct	Attached	$650,000	4	2.5	2117	34
13470 Peters Rd	Attached	$799,500	2	2.5	2324	4
5756 Ridgetop Ct	Detached	$935,000	4	3	3162	5
1011 Spruce St	Detached	$1,049,000	3	2.5	2101	4
425 Kenwood Rd	Detached	$1,090,000	3	2.5	3527	6
1500 Morning Sky Ct	Detached	$1,148,000	5	3.5	4402	107
1155 Crestline Ct	Detached	$1,995,000`	5	4.5	7438	73

Sold/Closed Dec 6-12, 2021

Address	Type	List Price	Sold Price	Sq Feet	DOM
4 Touchstone #78	Condo	$224,999	$212,000	1351	30
324 Cervantes Circle	Condo	$229,000	$241,000	832	3
204 Cervantes Circle	Condo	$305,000	$332,000	1138	3
5077 W Sunset Dr	Attached	$500,000	$500,000	1720	47
4301 Lakeview Blvd	Detached	$635,000	$617,000	1,223	19
1335 Laurel St	Detached	$850,000	$699,000	1898	62
3225 Tempest Dr	Detached	$799,000	$800,000	2231	12
3795 Tempest Dr	Detached	$815,000	$860,000	2753	19
6810 Childs Rd	Detached	$950,000	$935,000	3282	2
14145 Redwood Ct	Detached	$825,000	$975,000	2519	5
18 Touchstone	Detached	$998,000	$1,055,000	4378	18
17561 Lake Haven Dr	Detached	$500,000	$1,720,000	3879	0
456 Lake Bay Ct	Detached	$1,600,000	$1,725,000	2393	2

November 30, 2021November 30, 2021

Tinseltown Trolley

The Lake Oswego Trolley is a favorite of mine. The trolley runs from State Street, along the Willamette River to the South waterfront in Portland. It’s a blast! One year, I packed a picnic and took my Mom for a trolley ride for her birthday.

The scenery is lovely. It meanders along through Dunthorpe ( a gorgeous neighborhood!) and has expansive views of the river. There is also a long tunnel that is pitch dark inside, except for the lights of the trolley.

This year the trolley is offering a Tinseltown experience. The event is December 10, 11, and 12. Departure times vary with 3 rides on Friday the 10th, 6 on Saturday the 11th. and 6 on Sunday the 12th. The cost is $20 for adults and $17 for youth (0-17). The trolley is decorated for the season and there is a special guest on board from the North Pole. For more details, click here.

What a fun holiday event for everyone!

Seasons greetings, and, as always, thanks for reading the blotter.

Dianne

November 20, 2021November 20, 2021

Worshipping options in and near Lake Oswego

I once worked with a family who was being transferred from another part of the country. One of the first questions that I was asked was, does it matter what church you belong to? It was the one and only time that I’ve ever gotten that question. And it’s a fair question.

My answer was then, and still is today, no. There is no social pressure to be affliated with an organized faith group. However, there are quite a few worship options should you be inclined to want to join one.

Lake Oswego has 25 christian churches, including a Mormon Temple. There is also a Jewish Synagogue. 2 miles South of Lake Oswego is the Cambodian Buddhist Society. Within 5 miles of Lake Oswego there is a Hindu Temple and 3 more Jewish Synagogues.

I hope you find this information helpful, and, as always, thank you for reading the blotter.

Dianne

July 16, 2021July 16, 2021

Market Activity July 5-11, 2021

Last weeks market activity appears to have been more balanced with 19 new listings, 18 pending sales, and 23 closed/sold properties. The fact that the pending numbers were fewer than the new listings my have been a result of the July 4th holiday. It’s too soon to know if this is some sort of trend.

See below for RMLS data.

New on the market July 5-11, 2021

Address	Type	Price	BR	Baths	Sq Ft
200 Cervantes	Condo	$289,000	3	1.5	1138
12 Oswego Summit	Condo	$300,000	2	2	1140
1 Peacock Pl	Detached	$529,000	3	2.5	1336
4980 Galen St	Attached	$589,000	2	2.5	1552
18811 Reao Ct	Detached	$639,900	3	2.5	1916
6227 Wayzata Ct	Detached	$649,999	3	1.5	1232
15115 Quarry Rd	Detached	$650,000	4	3	2865
49 Da Vinci St	Detached	$739,000	3	2	2351
18260 Indian Creek Dr	Detached	$759,000	3	2	2082
17730 Marylbrook Dr	Detached	$850,000	3	2.5	2951
4222 Cobb Way	Detached	$1,089,000	4	3	2243
1739 Palisades Terrace Dr	Detached	$1,095,000	4	2.5	3654
1776 Oak St	Detached	$1,550,000	4	3.5	4012
4531 West Rd	Detached	$1,595,000	3	3.5	3926
2165 Rodge Pointe Dr	Detached	$2,100,000	5	4	4749
1626 Englewood Dr	Detached	$2,495,000	4	2.5+.5	5581
13700 Fielding Rd	Detached	$4,998,000	5	4.5+.5	5802
14390 Uplands Dr	Detached	$5,399,000	4	4.5	7839
2470 Summit Ct	Detached	$5,498,000	4	3.5+.5	7180

Pending sales July 5-11, 2021

Address	Type	Price	BR	Baths	Sq Ft	CDOM
47 Eagle Crest Dr #54	Condo	$180,000	1	1	672	37
42 Cervantes Circle 4B	Condo	$250,000	2	1.5	912	8
86 Kingsgate Rd G101	Condo	$265,000	2	2	840	2
1367 Bonniebrae Dr	Attached	$399,000	2	1.5	1008	2
186 D Ave	Attached	$650,000	3	2.5	1637	7
5071 Tualata Ln	Detached	$675,000	3	3	1540	51
18426 Sandpiper Way	Detached	$688,000	4	3	1884	5
5051 Tualata Ln	Detached	$695,000	4	2	1581	37
217 Hidalgo St	Detached	$749,900	3	2.5	4312	37
32 Morningview Circle	Detached	$750,000	3	2.5	2718	7
537 Country Club Rd	Detached	$775,000	3	2	1901	93
4099 Coltsfoot Ln	Detached	$830,000	5	2.5	3149	15
2440 Overlook Dr	Detached	$839,900	4	3	3850	15
1503 Pine St	Detached	$875,000	4	3	2842	4
1724 Fern Pl	Detached	$950,000	3	3	2160	21
12723 Adrian Ct	Detached	$1,098,000	4	3	3190	4
915 Cedar St	Detached	$1,550,000	4	3.5	3219	3
2254 Knaus Rd	Detached	$3,950,000	4	5.5	7436	11

Closed/sold properties July 5-11, 2021

Address	Type	List Price	Sold Price	Sq Ft	CDOM
4619 Lakeview Blvd	Condo	$200,000	$205,000	753	8
4 Touchstone #68	Condo	$219,000	$245,000	984	58
4 Touchstone #124	Condo	$239,000	$245,500	1351	22
4000 Carman Dr B27	Condo	$269,000	$300,000	869	2
103 Kingsgate Rd	Detached	$525,000	$525,000	1352	5
1 Eagle Crest Dr	Detached	$549,000	$610,000	1290	4
2710 SW Orchard Hill Ln	Detached	$611,900	$656,000	2087	4
830 Laurel St	Detached	$645,000	$685,000	1400	3
20 Preakness Ct	Attached	$625,000	$700,000	1790	5
14307 Camden Ln	Detached	$719,000	$740,000	1932	0
2604 Glen Haven Rd	Detached	$729,900	$799,000	2,104	3
17310 Canyon Dr	Detached	$750,000	$805,000	2716	$3
18768 Wood Duck St	Detached	$925,000	$965,000	3016	4
1455 Nelson Ct	Detached	$835,000	$975,000	2210	2
1585 Patton Rd	Detached	$915,000	$1,025,000	3331	3
4137 Orchard Way	Detached	$975,000	$1,052,000	3680	2
3250 Westview Ct	Detached	$1,200,000	$1,161,000	3928	235
4379 Snowbrush Ct	Detached	$1,050,000	$1,161,000	3596	2
640 9th St	Detached	$1,450,000	$1,450,000	3321	5
858 10th St	Detached	$1,650,000	$1,650,000	2410	6
1475 Chandler Rd	Detached	$3,200,000	$3,150,000	4515	0
3230 Upper Dr	Detached	$3,300,000	$3,300,000	5338	0
1190 Fairway Rd	Detached	$5,495,000	$5,200,000	5855	9

February 25, 2021

Market Activity February 15-22, 2021

I think that the fact that our current real estate market is lacking inventory is pretty well known. There are many more buyers trying to buy homes than there are homes for sale. Preparing this market activity report a first has happened. Last week in Lake Oswego there was just one new listing. In all of the many years that Linda and I have been writing the blotter, I don’t recall that this has happened before. Hopefully it’s just a fluke and in the coming weeks the inventory will start to build up to meet the spring demand. Last week there were also 12 properties that accepted offers and went into pending status, as well as 18 closed/sold houses.

See below for RMLS data explanations

New on the market February 15-22, 2021

Address	Type	Price	BR	Baths	Sq Ft
4832 Redwing Way	Detached	$599,900	3	2	1472

Pending sales February 15-21, 2021

Address	Type	Price	BR	Baths	Sq Ft	CDOM
100 Kerr Pkwy #5	Condo	$169,000	1	1	617	171
3930 Lake Grove Ave 1B	Condo	$215,000	2	1	958	11
4320 Botticelli ST #11	Attached	$309,900	2	2.5+.5	2260	18
16880 Cortez Ct	Detached	$599,900	3	3	2313	3
5091 Tualata Ln	Detached	$625,000	3	2	1500	6
853 E Ave	Detached	$650,000	2	1	750	6
19603 River Run Dr	Detached	$800,000	4	2.5	2656	6
15606 Manchester Dr	Detached	$849,900	3	2.5	2656	3
1920 Park Forest Ave	Detached	$1,125,000	3	3	2679	19
17884 Kelok Rd	Detached	$1,229,000	4	3.5	4124	19
2230 Wembley Park Rd	Detached	$1,785,000	5	4.5	4607	36
907 Terrace Dr	Detached	$2,875,000	6	4.5+.5+.5	7296	128

Closed/Sold February 15-22, 2021

Address	Type	List Price	Sold Price	Sq Ft	CDOM
3872 Botticelli St	Condo	$289,900	$293,000	1171	124
16250 Pacific Hwy #59	Condo	$319,000	$319,000	1,305	9
5225 Jean Rd #510	Condo	$305,000	$335,000	1100	5
750 1st St E34	Condo	$335,000	$335,000	1350	3
16250 Pacific Hwy #73	Condo	$319,000	$341,000	1305	87
18667 Benfield Ave	Detached	$485,000	$529,000	1414	5
17104 Canal Circle	Detached	$650,000	$625,000	1416	36
1427 Greentree Circle	Detached	$605,000	$650,000	2239	5
17160 Wall St	Detached	$850,000	$888,000	3246	2
2145 Summit Dr	Detached	$1,000,000	$1,000,000	3111	48
4146 Chad Dr	Detached	$1,099,900	$1,030,000	3637	143
54 Wilbur St	Attached	$1,247,000	$1,170,000	3600	79
18460 Ray Ridge Dr	Detached	$1,249,000	$1,224,000	3769	34
72 Nansen Summit	Detached	$1,369,000	$1,240,000	4485	7
978 10th St	Detached	$1,495,000	$1,400,000	2578	25
3175 Douglas Circle	Detached	$1,425,000	$1,500,000	5400	3
13594 Goodall Rd	Detached	$1,700,000	$1,700,000	3732	0
16470 Phantom Bluff Ct	Detached	$2,695,000	$2,684,515	5188	11

March 26, 2017March 26, 2017

A bit About Condos

I have always felt that my real estate business goes in waves. There have been times when I was heavily working waterfront on the lake, times when all my business seemed to be new construction, and times when I seemed to be selling older houses. Today I am in a condo wave. I have two listings that are condos and this weekend I have written offers on two more condos. I am up to my ears in condos. I think it is the universe telling me that I need to write a blog post about condos. So here are a few things to keep in mind if you are considering buying a condo.

First, and in my opinion the most important, is that you are not just buying a home, you are buying into a community. Condominiums are governed by Home Owner’s Associations. Your home inspection will have all of the usual criteria for checking out the structure and the components, but you will also have an inspection of the HOA documents.

HOA documents include rules and regulations that tell you what is and what is not allowed. All usually have a clause for “nuisance” behavior, but some can be pretty restrictive. I have seen rules that don’t let you have anything showing inside of your window that could be objectionable. The two most common issues that you will want to be sure of is whether or not pets are allowed and whether or not rentals are allowed. You need to know these things going in and not after you own it.

Other important documents are about the financial health of the association. You want to see that they have money in reserve to take care of maintenance and repairs. This will include the current year’s budget, and also a reserve study. The reserve study projects into the future for replacement of big items like roofs and siding. While I know everyone hates to pay a monthly HOA fee, and often will rule out buying a condo because the fee seems too high, it is actually super important that the fees collected are enough to not just pay for the current maintenance like mowing the lawns and paying for garbage removal, but also are enough to over time add up to some rather significant amounts of savings. If proper saving isn’t done, then when the time comes to do major repairs the association will be forced to do a special assessment to cover the costs. A special assessment is much more financially painful than smaller amounts collected monthly over time.

You will also want to see the meeting notes from the HOA meetings of the last year. If there is a problem in the complex, they are likely talking about it at the meetings.

Financing of a condo can also be challenging when you go to get a mortgage. Most HOA’s restrict how many units can be rented out and this is important. Fannie Mae lending guidelines require that at least 50% of the units be owner occupied. For financing such as VA and FHA, the criteria to obtain these types of loans require that the Home Owner’s Association apply for the qualification. The VA loan application is a one time issue and runs with the complex forever once it’s approved. FHA is more complicated and must be renewed every few years at a cost of both time and money. So to have FHA approval it requires a Board of Directors that is motivated and on the ball.

Condos are terrific because they are generally less expensive than a house, require much less personal labor to up keep, and are ideal if you want a lifestyle where you can lock your door and be away for extended periods. With the cost of housing being a premium, they are truly the only option for many people.

There are also a really wide variety of condos. Some are super luxurious with top-of-the-line finishes and services. Others are bare bones and feel like what they once were, apartments. The least expensive condo for sale in Lake Oswego right now is a 1 bedroom, 1 bath unit on State Street. It has 829 square feet and is for sale for $170,000. The most expensive has 4 bedrooms, 4.5 baths, with 4911 square feet and is listed for $1,798,000.

If you have other questions, please contact any one of us. Linda, Whitney and I are all here to help.
Dianne

October 26, 2011

Buying A Condo

Condos appeal to buyers for a couple of very specific reasons. First is the appeal of having all of the exterior maintenance taken care of for them. If you travel a lot, are physically unable to do yard work, or simply prefer having someone else take care of things, a condo might be a good fit in your life. The other significant reason people may choose a condo is it is a great first purchase. Condos can often be bought for significantly less than a detached home.

Lake Oswego has a very large assortment of condos. Mountain Park was one of the first planned communities in the U.S. and a big part of that plan was an assortment of condominiums. At the very top of Mountain Park is Oswego Summit with it’s 2 swimming pools and views of Mt. Hood. Then there are the luxury condos that have been built on the Willamette River, on the Lake, and in First Addition. These complexes are located in highly desirable areas and have features such as secured parking and large terraces.

Some quick stats:
There are currently 68 condos for sale in Lake Oswego priced from a low of $43,500 (932 square feet with 2 bedrooms and 1 bath) to a high of $1,895,000 (on the Willamette River with 4784 square feet, 3 bedrooms and 3 1/2 baths).

21 Condos are in escrow with accepted offers waiting to be closed.

54 condos have sold in the last 6 months.

At any given time you’ll find a good selection to choose from.

There are some specific things you need to think about if you are considering a condo purchase. When you make an offer, make sure it is subject to review of these items:

Ask to read the last 12 months of minutes from the Home Owner Association meetings. If there are problems in the complex, people will be talking about them at these meetings. This is probably the easiest way to find out issues.

Make your offer subject to obtaining and approving of financial statements for the HOA (Home Owner’s Association). You want to see that the HOA has been doing maintenance and upkeep. That they have reserves being built up on account for significant repairs such as roof replacement or paving. And you want to see that they are projecting future expenses and not just working on an emergency basis.

Ask the seller for full disclosure of any upcoming special assessments or any litigation that the HOA may be involved in.

When you have your home inspection done, have the inspector walk the complex and inspect it as well. Does he/she see dry rot on decks or worn roofing shingles? If so, find out if the HOA has plans to address correcting these issues.

Buying a condo is different from buying a house. You are buying into a community with shared responsibilities and obligations. You want to make sure the HOA will be a good fit for you and not throw any surprises your way after you move in.

There is a tendency to want to buy a condo with small HOA dues. The HOA dues are paid monthly, in most cases, and cover things like landscape maintenance and repair of the exterior of buildings. Sure, it’s nice to have small monthly expenses. But the problem with small HOA dues is that money is then not collected for future expenses. And when those expenses arise and there is not enough money in reserve, then all of the members of the HOA have to pony up and pay a special assessment. These assessments can be in the thousands of dollars. So do your homework and get to know the HOA before you buy. Don’t necessarily opt to buy a condo just because the HOA dues are small. Small monthly dues can mean big special assessments later.

Please let us know if you have any questions about condos. Linda and I are here to help.
Dianne