Transparency, yet again

I sat in the webinar, via youtube, yesterday and came away with the sense that I have little hope the exercise is worth it.

First, the prevailing idea that as a home buyer, you will stop the closing proceedings for an hour and a half while you read the HOA governing documents, by-laws, rules and regulations is unrealistic. Let's be fair, you're excited to finally be at that moment and it may be one of the most important financial decisions you will make. What if, once the offer has been accepted by the seller, there is an immediate transfer of those documents AND a year's worth of the meeting minutes? I would have taken the time to read those documents and quite possibly of known of the construction defect lawsuit being pursued by the HOA and quite possibly have made a different decision about whether this was the home for my family. I was not given the opportunity, by the seller, by the HOA or the real estate agent.

Secondly, when members of the task force use the CAI Satisfaction Survey (89% love the HOA) be honest the CAI is a lobbying organization for community management. The Zogby Survey they use (CAI) does not contain (as far as I could find) the data set from which their results were derived. Rocket Mortgage also has a survey of 57% dissatisfaction and 43% expressing satisfaction.

Third, as tragic and devastating as the collapse of the Champlain Towers South, the NIST report has not been concluded and the investigation is continuing. Preliminary evaluations (September 2023) are suggesting design deviations. The report is not expected until June 2025.

Fourth, many HOAs have public facing websites. This is a very good thing. Even GVR has a public facing website and yes, you can look at their budget, financial statements and governing documents. I think after looking at their budget, one can say they are not your "traditional" idea of an HOA. A budget where the first income item is fines and ~$440,000 is budgeted for attorneys. One thing they do extremely well is list the rules and expectations clearly and concisely. There are many but at least the homeowner knows exactly where they stand.

Finally, the use of tropes and stereotypes are not helpful. Does it matter to any individual if they lose their home in foreclosure from the HOA whether they are one or many? To be cavalier in the attitude "it's only X amount" minimizes the trauma and loss to that individual and family. Be respectful, these are not just houses.

I Google every so often, looking for that lime green house we are all so afraid of! I haven't found it yet. I did find a lime green door and oddly enough, I wasn't offended by it in the least. Perhaps tolerance is something we should encourage.

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Thank you for visiting the community engagement tool for the HOA Homeowners’ Rights Task Force.  

Pursuant to HB23-1105, this project has now concluded. On behalf of the Department of Regulatory Agencies and the Division of Real Estate, thank you for your interest and participation.