I live in Rossmoor and sell in Rlossmoor. I also preview every new listing in Rossmoor on Tuesday with the Rossmoor Marketing Group. If you are interested in Rossmoor, get in touch with me. Yes, it is true that you must have over $70,000 liquid assests after you buy in Rossmoor and four times the monthly HOA income. But there are ways around the requirements. Again. if you are considering Rossmoor, call me.
Judith Brickman, 925-876-1669
Many agents are but I would advise you to find someone whith experience in Rossmoor. Their Byzantine administrative process requires some knowledge in order to have repairs done, and transfer all documentation properly. It's not impossible to learn but it is easily fouled up.
Good questions. Actually ALL coops are listed as condos. That's because the Contra Costa
Association of Realtors Multiple Listing Service does not have a category for "coop", so it's not a question of listing agents being knowledgeable. Buyer's agents may be a different story.
Also, the HOA fee quoted almost always includes property taxes. Depending on when the seller purchased the unit that may or may not be a significant amount.
If you don't have the necessary income, a relative can sign a form that in effect says they have enough income and will guarantee your payments. Sort of like a co-signer on a loan, but in this case there's no loan. It's quite common to do it this way.
Your best tool for buying in Rossmoor is a local agent familiar with all the ins and outs of this very nice senior community.
It's my opinion that all of the 'affordable' units in Rossmoor are co-ops and I report on Rossmoor sales every month. Yes, the HOA is hefty, but you are receiving a good set of amenities in return. And yes, the HOA is hefty whether condo or co-op. I don't know of any HOA fees in Rossmoor below mid-$500's (per month). All residents, condo or co-op must pay the $7000 Golden Rain Foundation one-time initiation fee to purchase in Rossmoor. You can find monthly market snapshots for low and high selling price units Rossmoor at http://vickiesellshomes.com/category/walnut-creek-ca/walnut- Reports also include number of units sold, median home price, etc.
p.s.- Many of the listings 'say' condo when they are co-ops...
Keller Williams Realty