jenholzworth, Home Buyer in Carlsbad, CA

Are HOA fees monthly or yearly?

Asked by jenholzworth, Carlsbad, CA Sun Feb 10, 2013

This question was asked from http://www.trulia.com/property/3091862972-2685-Alameda-Cir-C…

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15
Sinead McAllister’s answer
Hi Jen,
Typically they are paid monthly. If the HOA is doing a big project and needs more funds, they vote to levy a special assessment for that project. The monthly dues at this project are $210.00. If you would like to go check it out in person, feel free to contact me directly. It is a really nice project.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
http://www.McAllisterHomes.com
1 vote Thank Flag Link Tue Feb 12, 2013
Most HOA's for Homes are generally due monthly but some secondary HOA's are paid on a quarterly basis. They are usually for common areas in & around Planned Developments.
0 votes Thank Flag Link Wed Apr 3, 2013
HOA fees (Home Owner's Association) are charged monthly and cover general common area items; lawn care & tree trimming, exterior pest control & roof maintenance (if a condo), pool and recreational areas.

Mello Roos (Special Assessment Taxes) are generally paid bi-annually or in conjunction with general property taxes. These typically cover new schools and parks and recreational areas within a community.
0 votes Thank Flag Link Wed Mar 6, 2013
HOA fees are paid monthly, so always add that to your mortgage payment when figuring what you can afford to buy!
0 votes Thank Flag Link Mon Feb 11, 2013
Your Homeowners Fees are posted monthly
0 votes Thank Flag Link Sun Feb 10, 2013
Your loan officer will usually give you an idea of your monthly expenses for PITI+HOA: principal and interest for your loan, property taxes, homeowner's insurance, and homeowner's association dues. If you have an impound(or escrow) account, the PITI will be paid monthly to your lender and will be a little more than the actual amounts to build up a cushion in the impound account. The lender will then take care of your annual insurance bill and twice yearly property tax bill. You would still pay your HOA dues monthly directly to the property management company.
0 votes Thank Flag Link Sun Feb 10, 2013
Jen:
HOA assessments commonly referred to as monthly dues are set by the HOA Board of directors
once a year announced in the annual membership report. HOA dues are usually calculated as
an annual expense, payable monthly. Some CC&Rs may include provisions for a unit owner to
forfeit the option to pay monthly dues ie: if they fall behind/default.

It's hard to not get emotionally caught up with the exiting prospect of owning your own home instead of paying off your landlord's mortgage, still there is much to understand before you make
that huge commitment:
1> Condos are not risk free investments.
2> HOA rules can rub you the wrong way - check them out first.
3> Construction defect litigation is almost expected. If you purchase a new unit or one less than
ten years old, check that out as best you can. If you purchase a unit over ten years old, find out
if there are deferred maintenance issues. And how strong their reserve fund is.
4> Why bother? Multi million dollar "Special Assessments" are not uncommon. Your share could
turn what you thought was a good investment into a money pit! $210/mo. dues may seem fine,
but if it proves to be unrealistic, you'll see that dues rising, so don't bank on it staying so low.
If your unit is new, you can almost bet the developer has under estimated the operating and
reserve costs for long term maintenance in order to sell the units with low monthly dues.
5> Is it less headache to own a condo where you act like a renter when the roof leaks? Well, roof
leaks are hard to dispute, but we know of a place that's had rats and mice since day one, and
the HOA never wanted to spend the money to get rid of them. The owners are still suffering with
it over 12 years later. If your appliances breakdown: stove, microwave, washer, dishwasher,
water heater, furnace, they are normally your personal responsibility to fix. Getting the right HO6
insurance may help.
6> The cost to own a condo should generally not be much different from owning a single family
home of the same size if you could find one. Condo seem to not hold their value or appreciate
as fast as a SFH will in the same location.
7> Each HOA is different, depending on what you want: quiet, family friendly, college kids, or resort
style community. If possible rent there first to see if it's right for you before you buy.

Tony
0 votes Thank Flag Link Sun Feb 10, 2013
Yes. HOA fees are monthly.
0 votes Thank Flag Link Sun Feb 10, 2013
HOA (Home Owner's Association) fees are charged monthly. Not to be confused with Mello- Roos fees which are typically charged bi-annually for newer built properties.
Sherri Dolan GRI Realtor
Broker Associate
760-889-3149
Westhaven Real Estate Services
Carlsbad
http://www.sherridolan.com
0 votes Thank Flag Link Sun Feb 10, 2013
This is a community that the CIty of Carlsbad had some units set aside for sale only to people whose income is below certain levels.Family Size of 1 Person = $45,000
Family Size of 2 People = $51,400
Family Size of 3 People = $57,850
Family Size of 4 People = $64,250
Family Size of 5 People = $69,400\
The HOA fee of $210 is payable monthly/

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Your Broker
The San Diego Property Shop
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jerry.sdps@cox.net
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0 votes Thank Flag Link Sun Feb 10, 2013
Generally, HOA fees are paid each month.
0 votes Thank Flag Link Sun Feb 10, 2013
Generally HoA fees are paid on a monthly basis. They are a separate bill sent directly to you from the property management company that is hired by the community. Sometimes if you have your mortgage as an "impounded" account your HOA fees, mortgage payment, taxes and insurance will all be paid from an escrow account. It just depends how your loan is structured.
0 votes Thank Flag Link Sun Feb 10, 2013
Hi Jen, the HOA fees of $210/month are monthly fees. This cute condo is designated by the City of Carlsbad as Affordable Housing. For more information, go to this link http://www.mulberryatbressiranch.com/

If you'd like to see this condo or explore other options in Carlsbad, please contact me at:

Kim Sinclair
REALTOR
Real Living Lifestyles, CA DRE #01435354
300 Carlsbad Village Drive, Suite 224
Carlsbad, CA 92008

KimSinclair.re@gmail.com
Call or text me at: 760-845-4365
eFax: 858-432-5019
0 votes Thank Flag Link Sun Feb 10, 2013
HOA Fees are a monthly fee.
This property also has some income restrictions as part of an affordable housing program that you will need to get qualified for. If you have any questions, feel free to call me.
Tiffany Boyd, Realtor
Keller Williams Realty Carlsbad
email Tiffanyhomes @ yahoo.com
750 5332244
Ca Bre#01899986
0 votes Thank Flag Link Sun Feb 10, 2013
Good Afternoon Jen,

The HOA Fees for this property are monthly and include Common Area Maintenance, Exterior (Landscaping), Exterior Bldg Maintenance, Limited Insurance, Roof Maintenance, Termite.

If you would like to see this property or any others in the area please let me know.

Michael Urlacher
Realtor®
Prudential California Realty
Cell 858-207-7583
mikeu@prusd.com
DRE# 01916452
0 votes Thank Flag Link Sun Feb 10, 2013
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