Waterfront properties have concerns: erosion and resulting depletion; open space wind ferocities; sun-baked landscapes; and indigous insect proliferations. But the aesthetics are more determinative of value than the concerns. Anything is worth what someone will pay for it. Sunsets and expansive views are difficult to quantify but are easy to justify in increased value.
Shareholdersâ€™ Digital Rights
Now that most television signals are digital, can shareholders require that the expense of a â€œcommon (usually rooftop) antenna, to convert the entire building to digital, be assumed by the co-op as a â€œcommonâ€ expense, i.e., shared by all the shareholders? Generally a co-op board is given discretionary power, under the by-laws and proprietary leases, to originate or terminate â€œcommonâ€ services. The board may be influenced to install such a converter with â€œsignificantâ€ shareholder interest, but, absent a by-law shareholder voting requirement for such decisions, the board would not be required to act at the request of shareholders, even a majority, in such instances. Shareholdersâ€™ remedy would be in the election process.
Conditional Co-op Approvals
Â Co-op Boards will not usually consider a potential buyerâ€™s application on singular merits but, instead, review each facet in the context of the entire application. Requests made in an application and the contract of sale are reviewed as part of the total package. Even though conditions of acceptance cannot (or should not) be arbitrarily imposed, co-op boards can nonetheless be selective in the extent to which conditions of acceptance are applied. For example, a potential buyer of a â€œpet friendlyâ€ co-op could be approved on the condition that he/she could only have one of two dogs that were both requested in the application. In this case the board would probably be acting within their scope of its authority and the applicant would not be entitled to a return of the application fee, if so requested
Start lowâ€”stop when the price becomes too high. Sometimes the contract price will be below listing price and sometimes above. Bidding activity can assure a fair market price for buyers and sellers. Considerâ€”if the line is long at a restaurant then the food must be goodâ€”right?
Maybe Borrow Sooner Rather Than Later
Hereâ€™s a formula for higher interest rates: decrease in foreign demand for US Treasuries plus a projected increase in the budget deficit plus an increase in government spending to stimulate the economy yields â€œtighteningâ€ of lending which corresponds to higher interest rates. Watch the trend; keep an eye on statistics; donâ€™t miss the train.Â Â
Uncle Sam Not Paying the Bill
Despite tax credits and rebates associated with the purchase and installation of pellet stoves and solar water heaters, the big picture may be a bigger picture when it comes to saving any money on the total bill. You can easily pay $4,000 to $8,000 for such heating systems and wait for years to recoup the initial costs as well as on-going maintenance expenses. There are a lot of variables in the heating cost equation including, but not limited to, space usage, current fuel price guidelines and trends, home value and even the â€œlook,â€ â€“eg., curb appeal of solar panels, tubes, mats on the roof, or a large roof mounted water tank. So, before taking Uncle Samâ€™s stimulus package, consult an energy professional and consider that you can cut your heating and cooling expenses as much as 20% by simply adjusting thermostat temperatures five to ten degrees at night and when you are out and about.Â