Typical HOA is between $250-395 for your area and price range. There may be a few that are higher and even lower. Generally those have extra amenitites such as nice pools, great workout rooms and maybe even extra security. Aside from amenities it is the age of the building that determines what HOA dues are going to be. Some start real low and have lots of deferred menitenance that creep up on the owners in the later years, i.e. if the balconies were never maintained and the building is over 30 years old, at some point someone is going to have to pay to get those back into shape.
Make sure you not only pay attention to the interior of the unit you are looking to purchase, but pay very close attention to the outside and structural integrity of the whole complex.
Good luck finding the Right Condo at the Right Price.
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Home Sales Pro
In the current market, with months of foreclosures in the pipeline, the general trend for HOA fees is UP! As more condo/TH are foreclosed on, more of the operating cost the must be placed on those that still remain. One important bit of information you may want to uncover as you review a project is the percentage of occupancy - the higher the better! Percentage of occupancy may also be an issue for your financing if it is too low.
As of 12/7/10, all condo projects FHA-approved PRIOR to 10/1/08 will EXPIRE. If you plan on using FHA financing your loan broker can order a "FHA case number" on any of currently approved projects prior to 12/7 and still close after the 12/7 expiration date (provided the project review required on each individual loan transaction is clean). All expired projects will have 6 months to get recertified, but no case numbers will be issued until they are. If the project fails to get recertified within the 6 month period, a full new approval package must be sent to HUD.
Condo projects approved PRIOR to 1/1/00 cannot be recertified and a full package project approval must be submitted to HUD as if they had never been approved. This process may take 8 weeks or longer depending on the volume of new project packages HUD receives.
Condo projects approved AFTER 10/1/08 will expire upon the 2 year anniversary of their last approval or last recertification.
You can search for FHA-Approved condo projects here: https://entp.hud.gov/idapp/html/condlook.cfm
I live and work in Sherman Oaks. HOA fees really vary from complex to complex, but I would say that under $300,000 you would have slim pickings with probably a one bedroom condo north of the 101 and HOA fees could be anywhere from 250-400 on average. Hope this helps.
JohnHart Real Estate Redefined
15125 Ventura Blvd
Sherman Oaks, CA 91403
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Let me know if you have an specific complex and I would be happy to find the fees for you
Good luck to you! Let us know if we can be of any assistance.
David Hitt & Susan Kim
Keller Williams Realty
HOA fees range from $200 to $500 depending on the amenities of the building. I had a listing on Addison St. and the fee was $328. There's a wide range of prices, however, this is something you know up front when looking for condos/townhomes.
Please let me know if I can be of help.
Dilbeck Real Estate
The HOA Dues are usually going to run $250 to $500 a month. Factors that effect the HOA dues are if the property has a pool, earthquake insurance, amenities.
The Carrabba Group
Keller WIlliams Hollywood Hills
Happy House Hunting. If there is anything I can do to help, let me know. I live and work in Sherman Oaks.
John Aaroe Group
Sherman Oaks | Beverly Hills
I took a quick scan and there are 32 condo's in that price range this morning. The HOA range from 152 for the unit on Burbank Blvd. to 592 for a unit on Moorpark.
One thing to be careful of when shopping for a condo. You might see the HOA fee but then you will see a plus sign and another number. That other number is a special assessment. This means that you have a larger amount to pay each month.
For example, if you take another unit on Moorpark, the HOA is listed at 495 plus 65. That means that the normal HOA is 495 but that they are also charging an addition 65 for a period of time. In this case you might want to find out how long the special assessment is going to be in place.
Usually a special assessment is to cover a major repair. Suppose the pool develops a leak and they have to have it repaired. They give everyone in the complex a special assessment for two or three years to pay for the repairs.
You also might want to ask when shopping for condo's if the HOA has been increased in recent times. Both how many time and how much are good to know. A final thought is to ask if they have reserves in their budget. This will help to cover unexpected repairs and will help avoid unnecessary special assessments.
Hope that helps. Let me know if you need assistance in your home search.
The typical HOA fees for condos in this price range can vary anywhere from the $200's per month on the low end, to as high as $400 or more on the high end. Usually complexes that are newer and have more amenities will have higher monthly HOA fees. The majority of the condos in this range will be somewhere in the neighborhood of $250 to $300 per month or so. Hope this helps - good luck in your search!
Coldwell Banker Residential Brokerage