Category: Active adult communities
Updated May, 2020 (originally published in 2010). Given the tough economic times ahead in 2020 and 2021 and the problems that might ensue with developers and homeowners caught in a bind, this seems like a good time to revisit the topic.
This article is Part 3 in our series about Home Owners Associations (HOA's). Part 1 was called "Meet the New Boss - Your HOA", and Part 2 was "What You Need to Know about Your Home Owners Association". Both of those generated numerous interesting comments which are worth reading. We are grateful to Joe West, CEO of the Community Associations Network, for his assistance in preparing this series.
Home Owners Associations (also called Community Associations or condo associations) and their homeowners face a
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Published on March 2, 2010
Comments 42
Category: Active adult communities
The growing problem of delinquencies is a very serious problem that is starting to affect almost every Home Owners Association (HOA) in the country. And unfortunately, the problem gets worse every day.
At the Kensington of Royal Palm Beach condominiums on Florida's east coast, 70 percent of the owners are in arrears on their association fees. Many other associations have delinquencies in the 40-50% range. These fees typically pay for insurance, maintenance, landscaping, some taxes, staff, and energy. Clearly when not everyone pays their dues, which represent an equitable sharing of costs among all the owners, financial problems will ensue. Usually that means the remaining owners in the community association
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Published on January 25, 2010
Comments 3
Category: Active adult communities
Stay and Play Packages are a great option as you contemplate retirement. You, and perhaps your significant other, might be obsessing about how to find your best place to retire, and what you might do once you get to the state of retirement. The process is fun for many folks, but an intimidating hassle for others. Wherever you come out on this spectrum, this article, in which we will discuss Fly and Stay packages, will be a help.
Stay and Play Packages
Stay and Play packages (also called Discover and Stay, Weekend Getaway, etc.) are the fun and low risk way to check out various best places to retire. You can usually purchase them at low cost from active adult communities, or you can make up your own for the towns you might be considering. The offers are so attractive that you just shouldn't pass them up (but hurry, the high season is starting
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Published on January 18, 2010
Comments 5
Category: Active adult communities
Updated October 17, 2016 -- This is the 2nd of a 3 part series of articles about homeowners associations, the organizations that have an outsized influence on your life in a condo, 55+, or active adult community. Sometimes they are called Property Owners Associations, or simply Community Associations. The first article, “Meet the New Boss, Your HOA”, talked about many of the problems to be of aware of concerning Home Owners Associations. Part 3 focuses on "What You Need to Know When the HOA Takes Over from the Developer". In this article we were fortunate to gain an in-depth interview with Joe West, CEO of Community Associations Network, who provided his insight on the basics everyone should know before they commit to living in any
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Published on December 1, 2009
Comments 15
Category: Active adult communities
Updated Sept. 2016 - This updates our 2009 article on Home Owner Associations, the introductory piece of a 3 part series about these important, but controversial organizations (often called Community Associations). The 2nd in the series features an insightful interview with Joe West, CEO of the Community Associations Network about the issues buyers should know about Home Owners Associations before they sign on the dotted line. Part 3 focuses
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Published on November 9, 2009
Comments 94
Category: Active adult communities
Our latest installment, "When Active Adult Communities Go Bad", might have put the fear of the Lord into many of our readers. This week's article is intended to provide the basic steps you can follow to minimize your risk in buying into an active adult community, and help you take advantage
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Published on July 13, 2009
Comments 2
Category: Active adult communities
Note: This article was originally posted in 2009. Although things have improved in some communities, most of these same issues remain in 2011.
With prices in some very interesting active adult communities sliced in half from just 2 years ago, it is tempting to buy a retirement home. But as many thoughtful people have pointed out, those bargain prices could have...
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Published on June 30, 2009
Comments 3
Category: Active adult communities
The first part of the definition is easy - there are a lot of people who are 55 years of age or older. By the year 2010 there will be 74 million people who fit that category in the U.S. - nearly 1 in 4 people.
Arguably the term "55 plus active adult" includes just about everybody in this age group-except for those in prison, hospitals, or who live a sedentary lifestyle. But realistically, the term
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Published on June 13, 2009
Comments 3
Category: Active adult communities
Update: July 27, 2009. As promised, the IRS has expanded its audit of the tax-free status of more bonds after failing to reach a settlement with Community Development Districts at The Villages. The investigation now covers almost $400 million in recreation and other bonds, up from $64 million in the original audit. See the Bond Buyer Story for more.
Original Story: The Villages, the giant active adult community south of Ocala, FL, has received a proposed settlement from the IRS to resolve an investigation of tax-free bonds issued by 2 of its Community Development Districts (CDDs). The Bond Buyer reports that the settlement would mean that the Village Center and Sumter Landing Districts would redeem over $355 million bonds issued in 2003, pay the federal government $2.85 million, and refrain from issuing more tax-exempt bonds. The IRS suggested that
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Published on June 2, 2009
Comments 2
Category: Active adult communities
In 2006 Central Florida was shocked and titillated to read this headline in the Orlando News: "STDs Running Rampant in Retirement Community". The community in question being The Villages, the sprawling active adult enclave spanning several towns and home to over 60,000 people. Dr. Colleen McQuade, a gynecologist, was quoted that she "treats more cases of herpes and the human papilloma
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Published on May 24, 2009
Comments 15
