City Filled wit HOAs resists downward trend in property values
We often hear from some folks that mandatory community associations drag down property values. Dictatorial boards, botched elections, disgruntled owners, missing reserve funds, none of these stories paint a rosy picture of the community association lifestyle but how much of an impact does all that really have on property values?
According to a recent Bloomberg Businessweek survey, the city of Weston, FL, which is comprised almost entirely of mandatory associations, has seen a 15.1% increase in property values from February, 2009 to August, 2011. This increase occurred during the same time period that most homeowners across South Florida saw their property values drop by as much as half! Read more