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Home Values Increase Faster in HOAs
Recent research conducted in Northern Virginia by a professor and student at George Mason University indicates that community associations can add a 5-6 percent increase in property values over similar homes in nearby non-association communities.
Writing in Regulation magazine, the authors say that the increase in home value attributed to community associations is “especially remarkable when one considers that (HOA) residents pay twice for many local services—once in taxes and then again in HOA fees.”
The authors also pose valid questions, such as: Do community associations increase home values because they offer better-quality services than local government or because they offer services that local governments cannot offer (like more restrictive zoning) or do not offer (like greater security)?
To Read the Article Click Here .
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Condominiums: Gateway to the Good Life? The origins of the condominium concept stretch back 2,000 years to the Roman Empire. Condominiums involve individual ownership of units (living spaces) and joint ownership of common areas (such as siding, roofs and recreational areas). Tips on getting delinquent owners to pay up Collecting assessments for your community association takes more than passing out coupon booklets and waiting for checks to roll in. That's the passive approach. Sometimes you've got to be downright aggressive about getting your money.
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