Patti, Home Buyer in Illinois

How much are the monthly fees for Desert Mirage ? What is a Stock Co op ?

Asked by Patti, Illinois Fri Sep 7, 2012

This question was asked from http://www.trulia.com/property/3068067975-69850-Highway-111-…

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3
Purchasing a stock co-op means that you become a stock holding member, sharing in a common interest in the corporation, with an exclusive right to occupy a particular unit.
0 votes Thank Flag Link Sat Sep 8, 2012
Hello Patti,

There is not an HOA at Desert Mirage. It is a very nice small community and currently there is only one property for sale which just hit the market today. Good Luck!

Angela Galioto
0 votes Thank Flag Link Fri Sep 7, 2012
Patti -

The quick answer is - there are no HOA fees at Desert Mirage - nice, huh? It's a small group of homes in the city of Palm Desert, 29 of them and well-located for access to all the advantages of owning in Palm Desert - location, location, location.

Secondly, a stock coop is land and/or buildings that are owned by a corporation. Each of the property owners is then a shareholder in that corporation, and is entitled to all the rights and attributes of an owner. We don't see this too much in the desert area, but the structure works and somtimes gives owners a step up in "pride of ownership" scale. Still, it's a community with wants and needs like any other, and owners need to work with each other to get things done and keep the are in order.
0 votes Thank Flag Link Fri Sep 7, 2012
Thanks, but isn't there some sort of monthly fee for maintance or for taxes ? I use to live in a co op in illinois and the monthly fee went to cover the corporations taxes.
Flag Fri Sep 7, 2012
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