Thoughtfulness in Spending and Saving

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Thoughtfulness in Spending and Saving

Post  GJFArtist on Thu Dec 20, 2012 7:35 pm

Greetings, Fellow HomeOwners of Casa Los Cerros,

Honest, open, transparent- these issues involving your dollars need to be addressed in a forthright manner. YOU DESERVE to know what and how a Board Member would vote on issues.


We need to address the continuation with the $25 Monthly Assessment Fee- We need to stay with the plan for the repair of the roofs and the replacement of the asphalt, two major projects we face these next few years.


As a former Banker, it makes no sense to me to stop the payment of the $25 monthly special assessment fee.

If I may illustrate:

If you were a person wanting to buy a home, you would save for it. The bank looks at this as dependability, creating an history of your willingness to repay the credit you are seeking from the bank when you take out a home loan.

If you are denied the loan, because you have too short history of repayment, the market is full of people seeking loans making it difficult to get an home loan, you may have bruised credit, are you going to stop putting money aside for your dream home you wish to buy? Not if you are smart, you wouldn't. This is just how a bank looks at a loan application. The bank want assurances that you are going to repay that loan even if you have issues with your home.

Casa Los Cerros was denied a loan for the roof repair as I understand it. We cannot stop paying into the funds we need to replace the other roofs that need repair. If you have been paying into this fund, other roofs have been repaired, isn't it your right to get work necessary to your roof done, too? Of course it is your right. We cannot let others tell you to stop this savings. To do so is to also cause the reserves of the HOA to be tapped when we don't have enough money in our monthly budget to pay for needed repairs or improvements.

Furthermore, an Investor, or homebuyer, looks to the reserves to see if there is money for the ongoing repairs and upkeep to keep the property in good repair. If the reserves are low, their loan may be denied. The sale of your condo may be jeopardized by low reserves. Who wants to buy into a complex that is bankrupt and there is no money for upkeep or repairs? Thats where the real assessments will be in play, thousands of dollars in extra fees.

If this hasn't convinced you, think about this. The more money we have to pay for these projects upfront, the less interest we have to pay on the loan, again, money saved.

Let's assume that we can save money in this coming year. Perhaps we move to make some additional improvement OR we add it to the reserves specifically for the roof or asphalt. Either way, saving is saving. If was can save and end the assessments, I am all for it. However, fair is fair. Everyone deserves a roof in good repair!

As a former Banker, Real Estate Professional, Interior Design Professional and Supervisor or Building Projects, and as a Home Owner with real ideas, a background with real Leadership, I am a Builder. a Saver, a Planner.

Let's Build a community. Let's add to our amenities and improve the quality of life here.
Let's Save where we can by evaluating our expenditures in a thoughtful, intelligent manner.
Let's Plan our community well to attract and maintain quality people who care about their home.

Gloria Fredricks - Campaigning for 5 to the Board--

"Go Confidently in the direction of your dreams! Dare to live the life you've imagined!"

GJFArtist

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Maintain current fees

Post  Bree215 on Sat Jan 12, 2013 12:38 am

As an owner expecting my property value to remain stable or to increase, I think it's wise to invest in our own property's maintenance. I think it's worth paying an additional $25 until the projects are complete.
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