137 replies to this topic

[Andrea V]

They know about it, and think it is a great place to live... nice rules, and they just have to pay some money for someone ELSE to take care of everything... but then... something changes, and they no longer want to pay.

What is the HUGE change that makes people whine about the fees they AGREED to? haa!

[mylo]

They know about it, and think it is a great place to live... nice rules, and they just have to pay some money for someone ELSE to take care of everything... but then... something changes, and they no longer want to pay.

What is the HUGE change that makes people whine about the fees they AGREED to? haa!

Well, I don't think the rates have changed much, perhaps a resident can give us an update?

Perhaps it's their adjustable mortgages kicking it?

[cw68]

Well, I don't think the rates have changed much, perhaps a resident can give us an update?

Perhaps it's their adjustable mortgages kicking it?

Sometimes people just realize that people telling them what to do sucks so they complain about the fact that they themselves pay those people to do just that, regardless of the amount.

[Andrea V]

But if they HATE it so much, then why don't they shut up and MOVE??

It is a not a hard decision... they had enough money to move IN there, do they not have enough to move OUT?

If they changed their mind and no longer want a community that has HOA's then why do they stay, and then whine to us about poor them.... having to pay for something they chose!

[Orangetj]

Exactly. If I decide I no longer want to live here for any reason and my dislike of the area is sufficient to justify the expense of moving, I'll move. It's as simple as that. There's just no point in griping about something I've already agreed to. In case it hasn't been evident in my previous posts (not likely!) - I love it here! We have had precisely zero "run ins" with the HOA, probably because the regulations we agreed to are simply not that difficult to adhere to - bring in the garbage can on the same day it's picked up, don't park in the street overnight, don't park on the grass, don't raise chickens in the front yard, etc..

[palango]

I decide to stay because I CHOOSE to make the life of these stupid white yuppies @ the Associctaion a miserable hell.

They have done absolutely NOTHING in a way of competitive bidding as they love to waste peoples money/association dues on their golf buddies getting fat contracts for landscapping, security, etc.

A newhomebuyer does NOT get the ENTIRE Serrano contract where they have their stupid rules about the list approved plants, no oil changes, no overnight parking, needing a permit going to the bathroom, etc.

The main reason for my tantrum is twofold. First, I do NOT want another soul to make the same mistake as I did and fall so in love with the big trees, open space, clean streets, etc. and not to conduct their own exhaustive research BEFORE they consider on moving to Serrano.

Secondly, I would like for the folks to realize that Serrano has taken a HUGE hit in decreasing values. When a NEW homebuilder such as Shea Homes decreases their price by over a 150K WITH upgrades and when you look at the MLS and compare Serrano Bankowned,short sales, and Foreclosures against ENTIRE Folsom and other areas of EDH, you can see that Serrano has more Foreclosures than ENTIRE Folsom and other areas of EDH combined. Sure you can try to sugarcoat it and put a positive spin and try to put in "context", but numbers dont lie.

[Warren G]

Why not move? Well, for one thing the realtor commissions and closing costs are near 10% of the sale price.

[Andrea V]

I decide to stay because I CHOOSE to make the life of these stupid white yuppies @ the Associctaion a miserable hell.

Ahhh you are racist... makes sense why you bug the crap out of me!

[jafount]

I decide to stay because I CHOOSE to make the life of these stupid white yuppies @ the Associctaion a miserable hell.

They have done absolutely NOTHING in a way of competitive bidding as they love to waste peoples money/association dues on their golf buddies getting fat contracts for landscapping, security, etc.

A newhomebuyer does NOT get the ENTIRE Serrano contract where they have their stupid rules about the list approved plants, no oil changes, no overnight parking, needing a permit going to the bathroom, etc.

In short, you're a whiney, sniveling, malcontent. We get that.

The main reason for my tantrum is twofold. First, I do NOT want another soul to make the same mistake as I did and fall so in love with the big trees, open space, clean streets, etc. and not to conduct their own exhaustive research BEFORE they consider on moving to Serrano.

Yeah. Clean streets, Big trees, open space. Sounds like pure hell.

You didn't conduct exhaustive research? You mean you didn't talk to anyone, didn't ask a realtor and didn't read the CC&R's, depsite the fact you have to sign that you "read and approved" them prior to your final papers being closed on the house? Shame on you then.

Secondly, I would like for the folks to realize that Serrano has taken a HUGE hit in decreasing values. When a NEW homebuilder such as Shea Homes decreases their price by over a 150K WITH upgrades and when you look at the MLS and compare Serrano Bankowned,short sales, and Foreclosures against ENTIRE Folsom and other areas of EDH, you can see that Serrano has more Foreclosures than ENTIRE Folsom and other areas of EDH combined. Sure you can try to sugarcoat it and put a positive spin and try to put in "context", but numbers dont lie.

So what? In 1992 the median price of a home in California was $127k. As a percentage, home values dropped faster in 92 than they are today. However, had you bought ten $127k homes in 1992, today you would be in {roughly} a $3.380 MILLION equity position, assuming you hadn't paid a dime toward principal from then until now.

The chief economist with the NAR projects that the median price in California will skyrocket to nearly $1 million within 8 years. At that rate, I wish I had 10 average Serrano homes today. Of course, I'm sure you already "knew" this. Just imagine what you'll "know" tomorrow?

[Dr. Folsom]

The chief economist with the NAR projects that the median price in California will skyrocket to nearly $1 million within 8 years. At that rate, I wish I had 10 average Serrano homes today. Of course, I'm sure you already "knew" this. Just imagine what you'll "know" tomorrow?

The chief economist with the NAR is paid by NAR and is not an expert in real estate. NAR's purpose is the sell property regardless of market condtions.

"it's a great time to buy or sell!"

[bishmasterb]

So what? In 1992 the median price of a home in California was $127k. As a percentage, home values dropped faster in 92 than they are today. However, had you bought ten $127k homes in 1992, today you would be in {roughly} a $3.380 MILLION equity position, assuming you hadn't paid a dime toward principal from then until now.

Yes, you can make money at real estate. You can also lose money, over a long period of time even. I dug out an old post I put together a while back, which shows that an average CA house bought in 1989 took 13 years to make any profit, BEFORE transaction costs (in constant dollars).

Just for fun, here are the average California home prices for 1989-2004 in both nominal and real (inflation adjusted, CPI, 2005 constant) dollars. Note that an average house purchased in 1989 took 13 years to recover it's value.

Year Nominal$ Real$
1989 $196,120 $305,838
1990 $193,770 $288,201
1991 $200,660 $283,158
1992 $197,030 $266,829
1993 $188,240 $247,500
1994 $185,010 $236,168
1995 $178,160 $221,161
1996 $177,270 $215,174
1997 $186,490 $219,772
1998 $200,100 $231,870
1999 $217,510 $248,075
2000 $241,350 $268,028
2001 $262,350 $284,521
2002 $316,130 $337,446
2003 $371,520 $390,326
2004 $450,990 $463,133

[Steve Heard]

Why not move? Well, for one thing the realtor commissions and closing costs are near 10% of the sale price.

Not true.

You don't have to pay a penny in commissions if you don't want to. Many people sell without agents. It's not always an easy thing to do, but it can be done.

Even when you do pay commissions, they are negotiable, and I've never heard of anyone paying 10%. 6% has been the standard for years, but on higher priced properties 5% is more common. In a hot market, even less.

Closing costs are negotiable as well, but usually include transfer tax, escrow and title charges. Perhaps 1% of the sales price.

So today, commissions and closing costs are closer to 6 or 7%.

[palango]

Ahhh you are racist... makes sense why you bug the crap out of me!

I am not a racist. Just merely stating the facts.

How many minorities sit on the Association board???? 0

Yuppie is not a racist comment. Its an opinion.

[mylo]

How many minorities sit on the Association board???? 0

If they're all white, then all are minorities in California

[Orangetj]

A newhomebuyer does NOT get the ENTIRE Serrano contract where they have their stupid rules about the list approved plants, no oil changes, no overnight parking, needing a permit going to the bathroom, etc.

Secondly, I would like for the folks to realize that Serrano has taken a HUGE hit in decreasing values. When a NEW homebuilder such as Shea Homes decreases their price by over a 150K WITH upgrades and when you look at the MLS and compare Serrano Bankowned,short sales, and Foreclosures against ENTIRE Folsom and other areas of EDH, you can see that Serrano has more Foreclosures than ENTIRE Folsom and other areas of EDH combined. Sure you can try to sugarcoat it and put a positive spin and try to put in "context", but numbers dont lie.

Hmmm....I must have just gotten lucky, then, as I had all of the information about the CCR's prior to signing.

With regards to the second statement - do you have these numbers? If so, it would be interesting to see them. It's hard for me to believe that an area with just over 3,000 homes could have more foreclosures and/or bank ownership than the entirety of Folsom and the rest of EDH, but I suppose anything is possible. To me, foreclosures say more about financial problems of homeowners than they do about the relative value of their homes since the varying value of a home has little to do with one's ability to make the payments to which they committed when they purchased the home.

If you really want to stay even though you have such a strong dislike for the HOA, that's your call and your blood pressure. Personally, I think life is too short to spend it so angry and discontent. On the other hand, if you purchased at the top of the recent market and now can't afford to sell, I can understand your frustration but that experience isn't limited to Serrano.