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Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

Meanwhile, homeowners association (HOA) fees multiplied for many condo buildings in the aftermath of the 2021 Surfside condo collapse. In May 2022, the Florida Legislature introduced a new condominium safety law, which mandates more rigorous inspections and stronger financial reserves for HOAs.

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Going to Extremes

Appraisal Buzz

Couple that with the new Florida regulation requiring HOAs to maintain reserve funds for future expenses related to maintenance and inspections, and it’s no surprise that HOA dues are soaring. And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket.

HOA 370
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6 things you should do after moving into your new home

Housing Wire

Understand HOA Rules. One of the first things you should do when you move is gain an understanding of HOA rules. Some HOAs require status updates on the property, like when the mortgage is transferred. Make sure you inspect your HVAC system to see if anything is broken or looks like it’s on the verge of being broken.

HOA 466
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11 Things to Consider When Buying a Home in Raleigh NC

Raleigh Realty

Home inspections This should be a necessity for anyone who is buying real estate. A home inspection can spot these and other things that are wrong with the house, which gives you far more negotiating power, and it gives you a reasonable idea of what to expect in terms of expenses for the future. The HVAC was shot.

HOA 148
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New Regulations Put in Place for Condos in Florida

Lamacchia Realty

million condo units, with 28,000 condo associations across the state, and nearly a year after the Champlain Tower collapse in Surfside, Florida, stricter condo regulations have been put in place to mandate more frequent condo inspections. There will be two phases of inspections for recertification. Florida is home to over 1.5

HOA 36
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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. There are two main parts to a Home Appraisal: Inspection of the property. Type and age of plumbing and other systems (condition would be determined during a home inspection ).

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Five Contract Contingencies Home Buyers Should Consider

Will Springer Realtor

INSPECTION While the first two contingencies are extremely important, I like to think this one is the most critical. More on home inspections.) An HOA typically has a wealth of documents related to both the community at large – whether a traditional high-rise condo or gated community – and the property for sale.