Jerry_L_Evans, Home Buyer in Mesa, AZ

Why are the HOA fees so high on this property?

Asked by Jerry_L_Evans, Mesa, AZ Wed Jan 23, 2013

This question was asked from http://www.trulia.com/property/3105446809-7126-N-19th-Ave-15…

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Answers

10
I beleive, according to other listings, that this unit also includes your electric bill. So that is why it is so high.
1 vote Thank Flag Link Thu Jan 24, 2013
Brentwood Condominium is NOT a HUD property. Almost all of the interiors, if not all separate condo units has been upgrade and renovated to each owners'. Some may have made too significant interior renovations.
0 votes Thank Flag Link Sun Jun 9, 2013
HOA includes :
1. Water and hot water
2. Electric
3. Heat & cooling
4. Garbage dumpster service
5. Monthly HVAC air filter change
6. Fire insurances

The above items are typically separate from HOA in newer CONDOs. Brentwood is in a boiler system and force cooling system for the whole complex. There is no going to APS or any deposits for water. Its already live in. It is a true turn-key operation. The listed items are a necessary part of living and you pay for it one-way-or-another. In this case it is all inclusive and you don't have to worry for making separate payment each month for those items. It's all conveniently included in the HOA,

The rest of the cost of HOA cover for shared maintenances of the common area and exterior building. The rest are placed on HOA account for maintaining reserves as mandated by county condo regulation.
0 votes Thank Flag Link Sun Jun 9, 2013
The townhouse I asked about is for sale . So how could that include electric bill?
Flag Thu Jan 9, 2014
Jerry,

I work with investors and I created a system to identify the best investment opportunities in different neighborhoods and zip codes. It is very rare that my system picks a townhouse or condo as a good investment opportunity. Usually because of the high HOA fees.

In your price range you will find a lot of competition. The good investments opportunities do not stay long on the market. To be successful you will need to be able to identify them fast (before most of the other investors) and act fast. I can help.

I will be glad to send you information about good investment opportunities in your price range. Just give me a call or send me an email and I will set you up.

Jose Dias, REALTOR
(623) 418-5700
Jose@MyFirstHouseAZ.com
http://www.MyFirstHouseAZ.com
0 votes Thank Flag Link Sat Jan 26, 2013
Well the area you are looking is a good candidate for low priced properties that rent easily. However, if you paln on renting it I would avoid properties with high HOAs like the one you described in your orignal question. It will kill your cash flow,

The price range you are looking is very competative for investment homes. I would look for a property without HOA, low taxes and in decent condition. Avoid making it a showplace. Make sure everything works and put it on the market.
0 votes Thank Flag Link Sat Jan 26, 2013
What is the best area for rental property investments. I am not looking for luxary, but more cash flow. And since this will be my first, I only want to spend $35k to $50k.
0 votes Thank Flag Link Fri Jan 25, 2013
There are a few questions that should be answered. Are you looking to rent the properties, or flip them. Do you have a desired area to purchase?

While HOA's have some benefit with maintenance expenses, if you are choosing to rent a property they will eat away at your bottom line.

I have set up two MLS searches for you:

This one is just single family residential properties. In this price range there are currently only properties in Central/South Phoenix:
http://www.flexmls.com/link.html?zl9izlorgqx,12,1

This search includes all property types, which will include listings closer to this property:
http://www.flexmls.com/link.html?zl9izpdv0ih,12,1

If you would like more information feel free to contact me or any of these other agents directly. There is no cost for working with a Realtor on the buyers side.

Good luck with your investments Jerry!
Flag Fri Jan 25, 2013
I believe Rachel is correct that your Heat/AC is included in the HOA fee. You should verify, but if that is true then the HOA is actually a bargain as your AC bill in the summer could easily reach $200 mo.

This is great if you are going to live there full time, not so great for a part timer. You just have to decide if it is right for you.
0 votes Thank Flag Link Fri Jan 25, 2013
$340/month does seem high even considering what is included. I have helped a few clients buy, sell and invest in townhomes. In my experience, similar townhomes typically have HOA around $250/month.

This is a HUD home. Chances are HUD did not know the HOA amount and the person who listed the property copied the amount from another listing in the same neighborhood. A telltale sign that this happened is the fact that there is no information about the HOA name and telephone on the listing.

The property went to auction earlier this month and did not sell. It is still available and HUD is opening bids on a daily basis now.

If you would like to see other properties in 85021 you can check them at http://www.MyFirstHouseAZ.com/index.php?filter=all&Check…

Good luck!

Jose Dias, REALTOR
(623) 418-5700
Jose@MyFirstHouseAZ.com
http://www.MyFirstHouseAZ.com
0 votes Thank Flag Link Fri Jan 25, 2013
I agree with the other answers, but it's always best to call the HOA to confirm. Agents have been known to accidently enter information incorrectly.

Hope this helps.

Debbie Nieman
Keller Williams Sonoran Living
602-799-5239
diverdebi@cox.net

http://www.diverdebi.com
http://www.diverdebirealty.com
0 votes Thank Flag Link Thu Jan 24, 2013
Typically you should expect to pay fairly high HOA fees in Townhomes and Condos. This particular properties HOA covers the following:

Exterior Mnt of Unit; Roof Repair; Roof Replacement; Blanket Ins Policy; Garbage Collection; Front Yard Maint; Common Area Maint; Street Maint

If you would like more information for this properties HOA, you can call Casa Del Pueblo which is the agency that manages this property directly at 480-941-1077.

Hope this helps!

Chris Boughton
HomeSmart Biltmore
0 votes Thank Flag Link Wed Jan 23, 2013
Thanks Chris. Do you know the condition of the pool?
Flag Wed Jan 23, 2013
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