Quote:
Originally Posted by Retired Ole Guy
It will be an issue since one of our members is trying to sell and he got his real estate agent to send a letter to all of us saying how they have lost 4 or 5 sales and our property values could be down by 20% because of it. The letter frosts me cause God forbid that the agent have to work harder to make a sale and since I have no intention of selling Dilligaf if my alleged property values are down by a mythical figure of 20 %. And if my family ever did decide to sell I can assure you that it will not be with that agent or firm.
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The above hold true to any 55+ association with rules written more than a decade ago. 'The new 60 is 40' is the buzzward of the AARP crowd. Condos should adopt the rules to accomodate the 'baby boomers' not the 'Geritol' generation.
Many of the units that were for sale came off the market and became rental properties. Condo rules forbid rental units yet they do not take a stand fearing they will not get their fees. Money talks! A number of units fell into foreclosure and the lien for condo fees were waived. This hurt the association as many of the owners don't want to pay for the hit.
According to the realtors, the above scenario is caused be strict condo rules. The condo association was told time and time again to change the rules. The old fuddy duddies refused to listen.