Asked by Kate(owner), Stacey(manager), Anaheim, CA Wed Feb 9, 2011

hi, thanks for all the answers about my asking. I really appreciate that.
o.k I'll narrow more for my asking.
I was living in apartment next to 1100 wilshire high rise condo in downtown L.A. we were living there about 3or 4 4 years so we think we know that location well. that's the good location to live. it was not in downtown but it looks like living in downtown and close to koreatown too. and hospitals,restaurants,ralphs. and I also heard that football stadium might be bulid. I see downtown is growing up. but hoa is so high. when I'm counting my mortgage payment will be here, it includes hoa fee too, right? only 1 bed, i have to pay 2000$.
and Hoa will be going up in certain ways? i mean, for example, about some business contract, every 4 year landlord makes rent up.
once i buy condo and until I sold to someone in the future, hoa fee is always same like in the beginning?

and I'm living in anaheim now. and we don' have kids yet. and family and friends are all over around.

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Connie De Gr…, Agent, Los Angeles, CA
Mon Feb 14, 2011
I agree with the other responses, just want to add one thing: you can not write off the HOA's. You should look at HOA's as maintenance to a property. If you had a house SFR, you would have to repair things from time to time. The HOA's get high when there is a pool, gym and other such facilities that require maintenance and insurance.
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Lance King, Agent, San Francisco, CA
Thu Feb 10, 2011

Lenders here use the amount of the HOA fee to calculate what buyers can afford in terms of mortgage payment, but I have NEVER seen them included in the mortgage payment in California. They do have impounds for taxes sometimes, but not HOA fees in my experience.
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, ,
Thu Feb 10, 2011
Hi Kelly,
You certainly have received a lot of answers here, and good info, but not sure the answers related to your question. As I read your post, you wish to know if your 2000 dollars a month mortgage payment will include your condo fee, and as a corrollary, you wish to know if the condo fees will increase over time.
Simply ask your mortgage professional if that $2000 includes the condo fee. When I quote a monthly payment to a condo purchaser, I ALWAYS include the condo fee. Likewise, with a town home or single family, we include the HOA dues. It is impossible for us to tell you what your 2000 dollar payment includes.

Now, to the Condo fee itself. I think it is reasonable to assume the condo fee will escalate over time. How fast and by how much depends on your management company, the age of the property, and utility cost escalations, deferred maintanance savings, ground maintanance costs including pools and common areas...many areas touched on in your other answers.
Bottom line, call the person that quoted you the 2000 dollar a month figure, and get a full explanation what is included in your quote.

Best wishes, Jim, HSOA.
0 votes
Alisha Chen, Agent, Irvine, CA
Wed Feb 9, 2011
Hi Kelly:

It sounds like you are concerned about the HOA and the potential of HOA fees going up. There is actually no definite guidelines on if the HOA will be going up and how much. HOA are usually public facilities, common areas and utilities and amenity costs. If everyone in the complex pays the HOA on time, not much rise in the utility bills for the complex and not much repairs are needed for these items, HOA may not go up as much. However, anytime there's a repair or cost to maintain the HOA coverage items, everyone need to chip in. High rises usually includes the pools, recreation areas, community park, 24 hour guards, utilities, etc. I've sold a bank owned high rises in the financial district, within walking distance to the Staples Center. A few things you might want to find out is how much does the HOA community have as far as the cash flow. How many people are delinquent on their HOA, the condition of the existing HOA amenity areas, last major repairs or upgrades for the amenities, any anticipated major costs coming up for this building. This will give you some idea of future HOA increases.
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Richard "RJ"…, Agent, Beverly Hills, CA
Wed Feb 9, 2011
Hi Kelly,
I am a downtown specialist and it all depends on the building. Most of these building came public within the last 7 years so major problems needing increases in hoa are not likely. If you are in a smaller building and the building is going through some growing pains like lots of shortsales/foreclosures then there may be an issue even buying there... again, I can guide you regarding which buildings would fall into this category... Unless you let your mortgage broker know in advance what the hoa is, then the chances are that the mortgage payment is a total without the hoa included... more than likely, it is principle, interest, taxes and insurance. Let your lender know what the hoa amounts are on average. If you do not know and you are looking at downtown LA, I can give you a ball park figure depending on the building and services you desire. The fees can be as low as $300/mo up to over $2000/monthly. Keep in mind though, this is going to cover in most cases, your water, parking, partial gas, trash, and some insurance requirements... like fire and flood. I would be happy to further assist you...
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes
Deborah Brem…, Agent, Los Angeles, CA
Wed Feb 9, 2011
Hi Kelly;
I can see through your questions that you are not getting quite the SPECIFIC answers you need. I am not familiar ENOUGH with the arc of growth downtown to answer for you, but I can point you to the woman who is.
You need to contact :
Natalie Neith and Ken Catbagan of The John Aaroe Group
Natalie Neith: 323 317-9696
Ken Catbagan: 323 317-9697
Fax: 213 417-9135
Their combined 32 years of experience in the industry provides a wealth of expertise and they are LIVING and WORKING and SPECIALIZING in downtown LA, where both their home and office are located. Call them, and tell them I sent you!
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) 818.564.6591
0 votes
Lance King, Agent, San Francisco, CA
Wed Feb 9, 2011

As Jeffrey indicated, HOA dues are not included in your mortgage, and they are not tax deductible either. He is also correct that the dues can change, not only on the monthly amount but large special assessments can be assessed to deal with major repairs.

There are three places in particular to look in the disclosure docs for information on this subject - the CC&Rs, the meeting minutes, and the reserve study.

The CC&Rs will tell you what the maximum increase in monthly assessment can be from one year to the next - typical in San Francisco is 20% - and also what the maximum special assessment can be (without a vote).

The meeting minutes will potentially tell you if there are major repair issues in the building as they will be discussed among owners if present, and the reserve study will let you know how financially sound the building is.

This is not to say you shouldn't read ALL the disclosures - you should - but these documents are where you should look for answers about the issues you raised.

Find a reputable, experienced local agent/broker to help you. They know exactly where to find this information and can point it out to you, help you with negotiations, etc...

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes
Jeffrey White, Agent, Beverly HIlls, CA
Wed Feb 9, 2011
Thanks for your questions. Mortgage payments do not include your HOA dues. This will be an additional monthly fee. To answer your second question, these fees can change with regards to the needs of the building. If there are larger repairs needed and the reserves are not enough the HOA can levy an assessment which can be a one time fee or also they can raise the monthly dues. Reviewing all HOA documents is a contingency of purchase and one of the most important parts of the condo purchase process.

Call me anytime for a consultation and I can answer further questions. I am very experienced with the downtown LA market and the specifics involved with many different buildings.

Jeffrey White
Keller Williams Beverly Hills
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