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Old Home Inspections: What to look for

October 28, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

Portland is rich with historic homes, and we often work with properties that are 80, 90, or even 120 years old. These homes are filled with charm and character, but with age also comes a unique set of maintenance items and concerns that buyers should consider. While home inspections are crucial for any property, older homes require an extra layer of knowledge and care to understand what’s expected and what might need extra attention.

old home - portland

Below, we’ll go over essential areas to inspect, common issues to anticipate, and whether these issues should be deal breakers, so you can feel prepared when exploring some of Portland’s classic properties.

Radon

Radon is a naturally occurring gas that’s undetectable without specific testing and common in the Pacific Northwest. It seeps up through cracks in the foundation, crawlspaces, or the slab. Since radon isn’t automatically included in inspections, we recommend adding it because it’s the #2 cause of lung cancer in America. The test runs for two days and provides an average reading. If elevated levels are found, installing a mitigation system is straightforward, effective, and relatively affordable (about $1,900). For us, radon is not a deal breaker because a mitigation system resolves the issue easily.

Sewer Lines

Older homes often have original sewer lines, usually made of clay or cast iron, which can deteriorate with age. Tree roots often infiltrate these lines, leading to blockages or leaks that are expensive to repair. A sewer scope—a camera inspection of the sewer line— helps identify potential issues before they escalate. This is not always included in the general inspections so be sure to add it on! If the inspection finds a failing line, it’s common for sellers to cover repairs. As long as it’s fixed, this isn’t a deal breaker for us.

Electrical Systems

Electrical issues are common in older homes, so let’s focus on the more serious ones. First, we often find knob-and-tube wiring, usually in attics or basements. This type of wiring is dangerous as it’s fabric-wrapped and prone to fire. The simplest solution is to disconnect any active knob-and-tube wiring. If it’s not active, it’s usually safe to leave in place. However, if active knob-and-tube is found and the seller won’t agree to remove it, that’s a deal breaker for us. Most insurance companies now require knob-and-tube to be removed.

knob and tube

Another issue is outdated or undersized electrical panels. Many older homes have 100-amp panels, which are often inadequate for today’s electrical needs. We also look out for Federal Pacific panels, which have a history of catching fire. Fortunately, replacing an electrical panel is straightforward (about $2,900). If these issues come up, they’re easy to remedy.

Finally, other electrical issues that appear frequently include ungrounded outlets, reverse polarity outlets, and non-GFCI outlets. While these can be annoying, they’re typical for older homes and can be easily fixed by an electrician.

Plumbing

Many older Portland homes still have galvanized steel pipes, which corrode from the inside over time. This corrosion restricts water flow and can lead to leaks or bursts. An early sign of heavy corrosion is an increase in water pressure. Eventually, the pipes will need replacing. This can be done in sections as needed, or all at once. While re-piping a home costs more upfront, it’s often cheaper in the long run, with prices starting around $8,000–$10,000 for a small home. If pipes are corroded or actively leaking during inspection, they should be replaced immediately. As long as a seller fixes these critical issues, we don’t consider galvanized pipes a deal breaker since they’re so common.

Mold in the Attic

mold

Oregon’s wet climate makes proper attic ventilation essential. During inspections, any visual signs of mold should be checked further by a mold specialist. The most common causes of attic mold are leaking roofs, improperly vented bathrooms or kitchen fans, and lack of airflow. Mold issues range from simple, inexpensive fixes to large, costly repairs. For example, a fan venting improperly into the attic is an easy fix, while mold from a failing roof is a bigger issue. Whether mold is a deal breaker depends on its cause and the buyer’s sensitivity, but the root cause must be addressed to prevent health problems.

Foundations

Foundations are a major area of concern in older homes, so we’ll focus on the big issues. The good news? Portland’s historic homes often have foundations made from Portland cement, a durable material widely used in the early 20th century. While it may look crumbly on the surface, this isn’t necessarily a red flag.

Here’s what we look out for: vertical or hairline cracks are usually normal. Concrete naturally shifts over time. However, horizontal cracks or cracks that appear to be expanding are warning signs. Also, keep an eye out for walls that lean inward or bulge, as these mean the soil is putting too much pressure on the foundation and threatening its structural integrity. Repairing foundations is expensive, often costing tens of thousands of dollars, so serious foundation issues are a major deal breaker for us.

Water intrusion is another foundation issue to watch for. Portland’s rainy climate can lead to water seepage, visible as white stains on walls and floors. Some degree of staining is typical, especially in basements or crawl spaces. Light stains without active moisture usually indicate past exposure and can be managed with proper sealing and ventilation. However, large areas of water staining, active leaks, or dampness indicate potential drainage or waterproofing issues that may require significant repairs.

Final Thoughts

Older homes bring character and charm, but they also come with unique maintenance considerations. By understanding these common inspection findings and preparing for potential upgrades, you’ll be ready to make informed decisions and address any necessary repairs. Working closely with an experienced inspector and Realtor ensures you’ll be fully aware of what to expect and can confidently embrace the unique aspects of Portland’s historic homes.

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5 Reasons to Move to Portland, OR

May 31, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

Portland, Oregon, is a city that offers a unique blend of vibrant city life, stunning natural beauty, and a strong sense of community. Whether you’re seeking outdoor adventures, a thriving food scene, or a commitment to sustainability, Portland has something for everyone. Here are five compelling reasons to move to Portland and make it your new home.

1. Outdoor Adventures

Portland is a paradise for nature lovers, surrounded by breathtaking landscapes that offer endless opportunities for outdoor activities.

  • Hiking in the Columbia River Gorge: Just a short drive from the city, the Columbia River Gorge offers stunning hikes with waterfalls, panoramic views, and lush forests. It’s a hiker’s dream destination.
  • Exploring Forest Park: Within the city, Forest Park provides over 80 miles of trails, making it one of the largest urban forests in the country. Perfect for a weekend walk or an early morning run.
  • Cycling on the Springwater Corridor: Portland is also known for its biking culture. The Springwater Corridor, a multi-use trail, is a favorite among cyclists and offers a scenic route through the city and beyond.
  • Water Activities on the Willamette River: The Willamette River is ideal for kayaking, paddleboarding, and even dragon boat racing. There’s no shortage of adventure in Portland.

2. The Food Scene

Portland’s culinary landscape is diverse and innovative, catering to every palate.

  • Food Truck Culture: Portland’s food truck culture is legendary. From Korean BBQ to vegan comfort food, the city’s food trucks offer a world of flavors. These pods are a favorite lunchtime destination for locals.
  • Farm-to-Table Restaurants: For a more upscale experience, Portland’s farm-to-table restaurants emphasize fresh, local ingredients. Chefs here are passionate about creating seasonal dishes that highlight the best of the Pacific Northwest.
  • Portland Farmers Market: Don’t miss the Portland Farmers Market, where you can find everything from organic produce to artisanal cheeses. It’s a great way to support local farmers and discover new ingredients.
  • Salt & Straw Ice Cream: For a sweet treat, head to Salt & Straw, where you’ll find unique ice cream flavors crafted with local ingredients. It’s a must-visit for any foodie.

3. Arts and Culture

Portland’s creative spirit is evident in its thriving arts scene.

  • Art Galleries: Art lovers will appreciate the city’s numerous galleries showcasing works from local and international artists. First Thursday in the Pearl District is a popular monthly event where galleries open their doors for evening receptions.
  • Live Music: Live music is a big part of Portland’s culture. From intimate venues like Mississippi Studios to larger stages like the Crystal Ballroom, there’s always a show to catch. The city’s music scene is diverse, featuring everything from indie bands to jazz ensembles.
  • Street Art: Portland’s streets are adorned with vibrant murals and street art. These pieces reflect the city’s creative energy and provide colorful backdrops throughout the neighborhoods.

4. Sustainable Living

Portland is at the forefront of sustainable and eco-friendly practices.

  • Public Transportation: The city boasts an extensive public transportation system, including buses, light rail, and streetcars, making it easy to get around without a car. This commitment to public transit helps reduce the city’s carbon footprint.
  • Green Spaces: Green spaces are abundant in Portland. The city is home to over 275 parks, including community gardens where residents can grow their own produce. These spaces promote a healthy, active lifestyle and a strong sense of community.
  • Eco-Friendly Initiatives: Eco-friendly initiatives are everywhere. From zero-waste stores to city-wide composting programs, Portland residents are dedicated to sustainable living. It’s a city where being environmentally conscious is a way of life.

5. Community and Lifestyle

Portland is known for its welcoming and inclusive community.

  • Diverse Neighborhoods: Portland’s neighborhoods each have their own unique charm. From the historic homes of Irvington to the trendy boutiques of the Pearl District, there’s a neighborhood for everyone.
  • Community Events: Community events are a big part of life here. Street fairs, farmers’ markets, and neighborhood festivals bring people together and create a strong sense of belonging.
  • Friendly Locals: The friendly and inclusive nature of Portland’s residents makes it easy to connect with others. Whether you’re chatting with a barista at your favorite coffee shop or joining a local club, you’ll find a warm and welcoming community.

Bonus: Affordability

Portland is the most affordable major city on the West Coast.

  • Cost of Living: Compared to other West Coast cities like San Francisco, Seattle, and Los Angeles, Portland offers a more affordable cost of living. Housing, groceries, and utilities are all more budget-friendly, making it easier to enjoy a high quality of life without breaking the bank.
  • Value for Money: Despite its affordability, Portland doesn’t skimp on amenities. You’ll still enjoy top-notch dining, entertainment, and cultural experiences without the hefty price tag found in other major cities.

There you have it – five amazing reasons, plus a bonus, to move to Portland, Oregon. Ready to make the move? Let us help you find your dream home in this incredible city. Contact us today to start your journey to Portland. We can’t wait to welcome you to your new home.

Portland Real Estate Market May 2024

May 1, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

Navigating Portland’s Dynamic Market in 2024

It’s May which means it is time to look back on the previous month and analyze the real estate trends and market conditions. As we venture deeper into 2024, the Portland real estate market is showing signs of holding steady. While rates had started coming down, beacause of the positive jobs report and increased inflation, they went back up into the 7s again. This has again led to some uncertainty in the market. There are still buyers in the market, but the buyer pool is smaller than it typically is this time of year. We are still seeing appreciation month over month, up 2.3% from the previous month. Inventory still continues to be the main driving factor driving home prices upwards. If we do see rates stay down continuously, expect to see appreciation jump into the 5-6% range.

The Most and Least Expensive Homes Sold Last Month

The Portland real estate market is diverse, ranging from luxury to affordability. Last month’s sales highlight this range vividly.

An exemplar of luxury, the most expensive home sold last month in Portland was located in King Heights. This beautiful property has 6 bedrooms, 7 full bathrooms and 1 half bathroom. With over 8900 square feet this home sits on just under 1 acre. This home sold for a remarkable $4,558,000. There were 4 other homes that sold in Portland last month for over 2 million showcasing the strength of Portland’s high-end market.

Contrasting this luxury, the least expensive home sold offers a glimpse into the market’s affordability. Situated in SE Portland, this cottage has 3 bedrooms and 1 bathroom. The home also has just over 1100 sqft and sold for just $249,000. The home definitely needs a little bit of work, but if you are willing to do some sweat equity, this home was a great deal! There were multiple other homes that sold for under $250,000 but they were either condemned or tear-downs. There were however multiple cute homes in the $250-$300K range.

For Sellers: Seizing the Moment

While this spring market has not been as hot as markets in the past couple years we are still seeing multiple offers on homes that are priced well and showing well. This often means that the homes are fully or partially staged. The buyers that we are seeing in the market are very well qualified which leads to fewer sales falling apart. This is good news as sellers so if you are considering a sale. Now could be the perfect time.

For Buyers: Know your Strength

Inventory and interest rates have led to a less than ideal market for buyers this spring. Top economists were expecting rates to come down to ease affordability concerns but unfortunately they have held steady in the high 6% to low 7% range. With low inventory some homes are still seeing multiple offers so if you are looking in the 500-800 range and in the highly coveted neighborhoods, expect to be writing against other buyers. The good news is if you are open to doing some finishing work or painting, you can likely get a good deal and have the seller buy down your interest rate.

Tailored Advice and Guidance

Whether you’re looking to buy, sell, or simply explore your options in Portland’s real estate market, personalized advice is key. For strategies, market timing, affordability, or property valuation, feel free to reach out. Together, we can navigate the evolving landscape of Portland’s real estate market in 2024.

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Portland Real Estate Market Feb 2024: Trends, Extremes, and Opportunities

February 1, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

Navigating Portland’s Dynamic Market in 2024

It’s February which means it is time to look back on the previous month and analyze the real estate trends and market conditions. As we venture deeper into 2024, the Portland real estate market is showing signs of significant change. The last few months have seen a drop in interest rates, resulting in an increased influx of buyers. Although rates are higher than the lows of 2021, there’s an emerging acceptance of these figures as the new normal. Reflecting on 2023, a year marked by a downturn in real estate, it’s notable that the average home price still rose by 3.5%. With the recent increase in market activity, we’re anticipating an appreciation of over 5% in 2024, a projection in line with most economists’ expectations.

The Most and Least Expensive Homes Sold Last Month

The Portland real estate market is diverse, ranging from luxury to affordability. Last month’s sales highlight this range vividly.

An exemplar of luxury, the most expensive home sold last month in Portland was located in Dunthorpe. This stunning property, with 5 bedrooms and 4 bathrooms and 3 half bathrooms over 7450 square feet, sat on 1.1 Acres. This home sold for a remarkable $3,250,000 showcasing the strength of Portland’s high-end market.

Contrasting this luxury, the least expensive home sold offers a glimpse into the market’s affordability. Situated in NE Portland, this cottage with 1bedroom and 1 bathroom, and a total area of 640 sqft, sold for just $298,000. Despite its modesty, it was cute, move in ready and had a large yard, proving that the Portland market caters to a wide range of budgets.

For Sellers: Seizing the Moment

The onset of Portland’s spring market this February brings new opportunities for sellers. With inventory levels dipping and buyer interest spiking, well-priced homes in popular areas are again attracting multiple offers. Recent experiences, like my offer being $60K over yet fourth in line, hint at a competitive season ahead. Sellers contemplating the right time to list might find the current market conditions ideal, especially with the trend of multiple offers expected to continue until around June.

For Buyers: Strategies in a Competitive Market

Buyers should brace for a competitive landscape. Homes are quickly becoming sought-after, often drawing multiple offers. While the highest offer often wins, we have several strategies to make your offer stand out. Currently, interest rates are around 6.5%, but a further decrease expected in spring could intensify competition. For those seeking less competition, exploring homes that have been on the market longer or are in less popular areas might be advantageous. Remember, the best time to buy is when it feels right for you, but with prices likely to rise, acting sooner may be beneficial.

Tailored Advice and Guidance

Whether you’re looking to buy, sell, or simply explore your options in Portland’s real estate market, personalized advice is key. For strategies, market timing, affordability, or property valuation, feel free to reach out. Together, we can navigate the evolving landscape of Portland’s real estate market in 2024.

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Unveiling Real Estate Trends in Portland: June 2023

June 13, 2023 by Jessica Berger and Tekela Fisher Leave a Comment

The real estate market in Portland is dynamic. It’s influenced by various factors, including supply and demand, economic indicators, and shifting buyer preferences. We will dissect key statistics to offer insights into the current state of the Portland real estate market. Our analysis will encompass crucial areas, including new listings, inventory levels, closed sales, time properties spend on the market, and average and median sale prices. We will examine these data points to reveal emerging trends and provide expert predictions for the Portland real estate market. As a reminder, statistics always come out one month behind, so the current market is slightly different.

New Listings:

In May 2023, the Portland real estate market witnessed 3,240 new listings—a 15.9% decrease compared to May 2022. However, a resounding 22.1% surge was observed compared to the preceding month, April 2023. These statistics signify an upward fluctuation in the availability of homes for sale in the Portland area, indicative of both changing market conditions and shifting buyer behavior. Buyers are starting to get used to the high interest rates and are entering the market again.

Inventory in Months:

The inventory in months—an essential metric gauging housing supply relative to the current sales pace—presents a compelling narrative in the Portland real estate market. Throughout 2023, the Portland market has experienced wide fluctuations in inventory levels. In January, the Portland market had a robust 2.7 months of inventory, only to decrease to 1.6 months by March. With another rise in interest rates an upward trajectory returned, with inventory stabilizing at 1.9 months for both April and May. This signals that while the number of houses being listed has remained fairly steady through the year the changes in interest rates are directly affecting how many buyers are entering the market.

Closed Sales:

Closed sales, representing successfully concluded transactions, offer a tangible indicator of market performance in the Portland real estate market. May 2023 witnessed 2,008 closed sales in Portland, registering a 31.1% decline relative to May 2022. Yet, an astounding recovery of 17.6% was experienced when juxtaposed with April 2023. This again indicates that buyer demand is tied directly to interest rates and even the seasonal spring push can’t cause us to rebound back to 2021 and 2022 numbers.

Time on Market:

The inventory level in the Portland real estate market underscores a prevailing seller’s market, where demand outstrips supply, leading to intensified competition among buyers. However, the total market time is much higher than what is expected for a sellers market. The average days a home took to sell still decreased substantially this past month to an average of just 40 days in Portland. When compared to what we are seeing on the ground day to day, this number seems high. Many homes that are priced well and presented well are selling in a week or less. So while we know demand is there, as a seller having a real estate professional is more important than ever.

market time, portland real estate May 2023
Year-to-Date Summary:

When comparing the first five months of 2023 with the same period in 2022, a slowdown in market activity emerges. New listings registered a notable decline of 23.5%. This also caused pending sales and closed sales to drop by 29.0% and 34.0%, respectively. When we consider these numbers next to the end of year numbers from 2022 we see a different story. May of 2022 was when the market notably shifted towards the downward trend. This continued into the summer before leveling out in the fall. Since the fall of 2022 we have seen a slow but steady climb in pricing, inventory and buyer demand which all point to a recovering real estate market.

Average and Median Sale Prices:

Analyzing the average and median sale prices in the Portland real estate market offers invaluable insights into the market’s overall price trajectory. Through May 2023, the average sale price in Portland decreased by 4.5%, from $615,600 to $588,200. Similarly, the median sale price had a comparable decrease of 4.4%, dropping from $549,000 to $525,000. If we compare these numbers to last month as opposed to last May we actually see an increase of 2.1% for the average and 3.8% for the median. This again points to a recovering and growing real estate market.

Average sales Price May 2023
Conclusion:

Through an analysis of the real estate statistics, we have witnessed undeniable fluctuations in new listings, pending and closed sales, inventory levels, and average and median sale prices in the Portland real estate market. While market activity has slowed compared to the previous year, month-over-month data reflects a resilient rebound. If you are thinking of selling, personal timing matters more than anything. With home prices climbing you don’t have to have a fear of missing the top. If you are on the fence about buying, the longer you wait, the more expensive things will continue to get. Interest rates do play a huge part into what the monthly payment will be, but we don’t expect them to suddenly drop. Hopefully this information is helpful as you consider whether now is the right time to jump into the real estate market or not. If you are thinking of buying and want to know what you might qualify for, We have all our favorite lenders listed HERE. And if you are ready to start looking at homes, you can do that HERE. Wondering what your home is worth? FInd out HERE

Why should you move to Oregon?

March 1, 2023 by Jessica Berger and Tekela Fisher Leave a Comment

Are you thinking of moving to the Beautiful state of Oregon? We put together this quick video which highlights just a couple reasons why we think you will love it here.

Oregon, known as the “Beaver State”, is one of the most beautiful places in the United States. It’s located in the Pacific Northwest and is filled with stunning scenery, a rich culture, and diverse communities. If you’re thinking about moving, here are some reasons why Oregon should be at the top of your list.

First of all, Oregon has a vibrant urban scene. Portland, the largest city in the state, is known for its lively downtown, trendy neighborhoods, and quirky culture. From craft beer to farm-to-table cuisine, Portland is a foodie’s paradise. And if you’re into biking or walking, Portland is one of the most bike-friendly cities in the country, with over 350 miles of bike lanes.

outside the city

But Oregon isn’t just about the city life. The state also boasts over 360 miles of beautiful coastline, with stunning beaches, rugged cliffs, and picturesque lighthouses. Whether you’re into surfing, kayaking, or just lounging on the beach, Oregon has something for everyone.

If you’re an outdoor enthusiast, you’ll find plenty to love in Oregon. The state is home to Crater Lake National Park, one of the most breathtaking natural wonders in the world. The lake, which was formed by a collapsed volcano, is the deepest in the United States and is surrounded by beautiful forests and mountains.

If you’re a wine lover, you’ll be happy to know that Oregon has a thriving wine industry. The state is known for its Pinot Noir, and the Willamette Valley is home to over 500 wineries. Whether you’re a connoisseur or just enjoy a good glass of wine, you’ll find something to love in the Oregon wine country.

Finally, if you’re a fan of the arts, Oregon has plenty to offer. The state is home to the Oregon Shakespeare Festival, one of the most prestigious theater festivals in the country. And if you’re more into music, the state is known for its thriving indie music scene, with countless venues and festivals throughout the year.

in conclusion

From the bustling city life to the peaceful wilderness, we truly have it all. With its beautiful scenery, vibrant culture, and endless opportunities for adventure, there’s never been a better time to make the move to the Beaver State.

Do we have you convinced? You can search for homes HERE. Or learn more about Jessica HERE. We look forward to connecting soon.

Be Ready to Buy

October 24, 2022 by Jessica Berger and Tekela Fisher Leave a Comment

You need to be ready to buy when the market shifts. 

We still have an inventory crisis, and that will keep the market from crashing.  Pricing will continue going down as long as the interest rates continue to climb. As soon as inflation is back under control, they will drop the rates again.  When they do, you want to be ready to buy so you can enjoy the climb and build wealth.  

What do you need to do to be a ready to buy? Here are the 4 things I would focus on to best position yourself for a future purchase. 

Save your money.

You’ll need a downpayment and the more money you can put down, the better the house will be. Set aside a percentage of every paycheck, somewhere you can’t touch it, and let it build up as much as you can. If the bulk of your money is tied up in investments, I’d pull it and hold the cash so the stock market isn’t deciding how large of a downpayment you have. Of course talk with your financial advisor about this strategy, but stocks are also predicted to continue declining.  

Pay down your debts.

Your debt to income ratio is a huge part of being able to buy a house. Start with paying off your smaller debts and then wrap those payments into the larger debts. This will put yourself in as strong a position as possible.  

Work on your credit score.

This will improve naturally as you pay your debts down. You also want to make sure you stay up to date on all your payments and remove any past delinquencies that may still be showing up.  Free credit report sites can give you a quick overview, but for a better look I’d head over to one of the actual reporting agencies.  

Hone what you want to buy.

Once interest rates come back down, there will be a frenzy again because we don’t have any inventory.  Knowing exactly what you want to buy will put you in the best position to immediately jump on it when it comes on the market.  

This market is different than anything we have ever seen before, and as such we are all learning something new everyday.  If it were my money, I’d be buying homes as soon as the interest rates hit 5.5%. If you want to talk about a buying strategy, or what this could mean for you, please reach out!

Want to meet with us? You can schedule with us HERE

Is this a good HOA?

December 1, 2021 by Jessica Berger and Tekela Fisher Leave a Comment

Buying a home could mean dealing with a homeowners’ association. This begs the question, how can you tell if the HOA is doing a good job? Watch to find out!

HOA’s manage, maintain, and regulate everything that is outside of the home — Such as the structure of the building, the common areas, the landscaping, and the recreation areas, if they have them. But unlike the membership of other community organizations, you can’t resign if you’re unhappy with the way the organization is run.

If the community you are searching in passes these 4 checks, you are probably in good hands!

#1 – Community looks nice

If the community looks good, it usually means that something positive has impacted the community. Of course, the opposite is also true. If you’re thinking about buying into a community, take an objective look at its appearance. Is the structure of the building in good repair? Are the trees pruned, the beds weeded and the landscaping well maintained? Is the pool clean? Are any of the homes in the community eyesores? Your answers to these questions reflect on whether the HOA is performing its duties properly and requiring homeowners to do the same. The proof, as they say, is in the pudding.

#2 – Strong Communication

This is your community and you have every right to know what’s going on in it. Do your research. Figure out how the HOA board communicates with homeowners. The options are numerous and include newsletters, websites, annual reports and emails. Check for flyers advertising community meetings. If homeowners are invited to attend committee meetings, it’s a good sign that their input is heard and valued.

#3 – Strong Money Management

The best HOA’s put checks and balances in place to safeguard against the risk of financial mismanagement. They employ a second set of eyes – someone not on the board – to collect the dues, pay the bills, and review checks and invoices to make sure the HOAs financial affairs are in good order. Often the second pair of eyes is a professional property manager, a lawyer, or an accountant on staff. We also want to be sure that they have a clear budget for addressing repairs, whether it is unforeseen circumstances or scheduled maintenance.

#4 – Clear HOA Rules

HOA’s tend to have a set of rules called Covenants, Conditions, and Restrictions. CC&R’s supercede city, county, and state laws and come with hefty fines if they are violated. So it’s really important to know if you’re moving into a community with a strict HOA. CC&R’s are meant to be applied objectively and fairly throughout the community – but sometimes they’re only enforced if a neighbor complains. The best way to tell if CC&R’s are applied consistently (or not) is to take a tour around the community. If everyone’s landscaping is immaculate, the HOA is probably very strict. But if some homes look run-down, and others don’t, it’s a good sign that the HOA is pretty lax on enforcing their rules.

Now that you know what to look for, let us help guide you into the perfect community! Even if that means avoiding HOAs all together! Contact us below!

Ready to get started? You can chat with us, or our lenders! Learn more about them over on our preferred lenders page

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