Ruth, Home Buyer in Pleasant Hill, CA

what are the homeowners dues? Is this a short-sale?

Asked by Ruth, Pleasant Hill, CA Mon Jan 23, 2012

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This question is about this property: http://www.trulia.com/property/3073640924-119-Woodsworth-Ln-…

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Hello Ruth,

The HOA dues are $415 ..quite normal for that area. I usually try to steer people towards purchasing a smaller detached home ...better appreciation and better resale value in the long term.

If you like, I can send you a list of homes in the same price category. Some may need a bit of TLC but well worth it.
0 votes Thank Flag Link Mon Jan 23, 2012
Hi Ruth,
I hope you have a fantastic realtor to work with! If not, any one of us is ready to repressent your best interests. Short sales can be a bit tricky, so make sure you have someone very knowlegeable with them.
Best of luck to you,
Suzanne Looker
0 votes Thank Flag Link Mon Jan 23, 2012
Hi Ruth,

As Johnny said below the HOA dues are $415 per month. That is a nice community so it's worth looking into. If you plan to finance a condo/townhouse with an HOA one of the most important questions to have the answer to is, what is the HOA default rate. In other words, how many owners are behind on their monthly dues. Typically if the default rate is above 20% (and it is for many) than it will be considerably more difficult to find financing. Check with your loan agent about this.

Also, consider this. HOA dues of $415 per month are roughly equivalent to an additional $85,000 in borrowing power at an interest rate of 4.5% . In other words you could buy this property for $260k and pay the $415 per month. Or you could buy a property without the HOA fees for $345k and the total monthly payments would be essentially the same. Plus you would probably get additional tax write off on the interest of that additional $85k (check with your CPA) Where as you don't get an tax write off for HOA fees unless it is an investment property. Something to think about. :)
0 votes Thank Flag Link Mon Jan 23, 2012
HOA Dues are $415 a month and it is a short sale.
0 votes Thank Flag Link Mon Jan 23, 2012
Hi Ruth, the HOA dues here are $415/monthly and yes, it is a short sale. Let me know if there are other questions I can help with! I'm located in Walnut Creek and sell many homes in Pleasant Hill!
Web Reference: http://www.diablovalley.net
0 votes Thank Flag Link Mon Jan 23, 2012
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