What is a home owners assessment fee?

Asked by Laurie Logan, Baltimore, MD Mon Jan 28, 2013

This question was asked from this property: http://www.trulia.com/property/3098728105-5308-Mallard-Grove…

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Rocio V Rojas’ answer
Rocio V Rojas, Agent, Raleigh, NC
Thu Jan 31, 2013
Hi Laurie,

As everyone has mentioned here, these assesments cover several things in the neighborhood. they can be lower or higher. I've seen some as low as $27 a month.

Also take into consideration that some subdivisions don't have pools but they will still charge a HOA fee for common areas. I've had clients interested in certain subdivisions, only to find that no pools are included and have them write them off the list. If this is something that's important to you then please inform you're agent up front.

Enjoy your day!

Rocio V Rojas
3 votes
Lisa Stanley, Agent, Raleigh, NC
Tue Jan 29, 2013
Hi Laurie,
The HOA (Home Owners Association) fees for this house are $90 per quarter or $360.00 annually.
Normally these fees cover any amenities, as well as street lights, maintenance of common areas etc.

I am very familiar with this sub-division and would be more then happy to assist you in iewing it.
I can also get you any information you may need with regards to Restrictive Covenents, Ameneties, Comparable Market Prices etc etc.

Please do not hesitate to call or e-mail me at 919-291-8502.
Also to find out more about me and my experience as a North Carolina Real Estate Broker, as well as about what we at Allen Tate can offer you as a buyer/seller please take a moment to check out my website at http://www.allentate.com/flisastanley.

I look forward to hearing from you and sharing the experience of purchasing a home with you and your family. If you contact me within the next 24 hours I will reward you with a $15 cash card once we have viewed this home.

F. Lisa Stanley
1 vote
Ernie Behrle, Agent, Raleigh, NC
Tue Jan 29, 2013
Homeowners fees are common amoung what are know as PUDS...Planned Unit Developments, which basically are most of the neighborhoods in the Triangle. They typically cover maintenance fees of all the common areas but can also cover use of amenities such as a community swimming pool and salaries of the HOA employees. Some communities may have different rates within the community based upon the types of dwellings. For example, if you own a townhouse, the fees are typically higher because your grounds and some exterior maintenance may also covered.

If you have any questions, feel free to contact me or visit my website at http://www.RaleighHomeSite.com . This was a good question that is asked quite often. Thanks
1 vote
Roy Mcintyre, , Bridgeport, WV
Fri Dec 6, 2013
Is $266 a month kinda seem high for a place that's 215k?
0 votes
Sheri Moritz, Agent, Raleigh, NC
Mon Jan 28, 2013
They are the home owner association fees of $90/quarter. This covers the maintenance of the common areas in the neighborhood. Are you working with an agent that can get you more information? If not feel free to contact me here through Trulia and I can get you more information on this or any other home you see listed here.
0 votes
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