What are the HOA fees????

Asked by Victoria Starr, Tucson, AZ Mon Feb 21, 2011

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7
David Anders…, Agent, Ponte Vedra Beach, FL
Mon Feb 21, 2011
This is the abbreviation for Homeowners Association (HOA) and deals with the fees of a particular group of homes to cover expenses for "common" areas. Usually it refers to specific communities that have residential homes. But it is also sometimes used for the same kind of fees for condos and townhomes. In most MLS listings you will see a couple of different fees that fall under the general area of Extra Fees. You need to be very careful with these fees. Some of them can be VERY high... especially in tall condo towers. Depending on the community and especially how many amenities there are in the community including gated communities... these fees can run from under $100 per month to over a $1,000 per month. Sometimes you will also see a CDD fee. These fees are charged in a few places around our area. These are 30 year bond fees that the buyers pay. Be aware if you see them. Just an additional cost.

Hope this has been helpful.

David Anderson 904-803-4545
1 vote
Lynn Brier-De…, Agent, Jacksonville, FL
Mon Feb 21, 2011
Good morning Victoria,

Can you please provide an address or an MLS listing number? I'd be happy to look this up for you...

Lynn Brier-De La Cruz, REALTOR, LMC
904-343-8586
1 vote
Donald Mcamis, Agent, Jacksonville, FL
Mon Feb 21, 2011
HOA fees are charges for expenses incurred by a community's Home Owner's Association for expenses they incur. They vary from community to community. A gated community will typically have significantly higher fees because they will be responsible for upkeep of roads and other types of infrastructure. Ungated communities do not have this responsibility. For example, in Pablo Bay, the ungated community in which I live, the HOA fees are currently $750 per year.
0 votes
Donald Price, , Orange Park, FL
Mon Feb 21, 2011
Home Owners Association(HOA) fees are collected from every homeowner in a neighborhood either monthly, quarterly or yearly by the association. Most neighborhoods have a Community Association Management(CAM) that manages the association. They pay for insurance, water maintenance(ponds), pools, common areas and lawn maintence of common areas. Fees range from $50.00 per year to $1200.00 a year, depending on the size and amenities of your neighborhood. Email or call me and I will look up the neighborhood and give you the amount it pays 904-962-8089 or dprice@agentlink.net
0 votes
Julie Thomps…, Agent, Jacksonville, FL
Mon Feb 21, 2011
The Home Owner Association fees vary from community to communtiy and are related to the expenses for community amenities maintenance , staff, security, landscaping, insurance and upgrading the amenities as needed for the future. It is also related to the number of homes in the community and how those costs are shared by a certian number of homeowners. Some communities have just a pool and maybe a playground and can be as low as $420 a year whereas some communities have golf, tennis courts, basketball courts, soccer fields and playgrounds and gated entries. Please feel free to call me at 904-294-0232 and I can answer your questions about all the communities. Have a great day!
0 votes
Martha Gardn…, , Jacksonville, FL
Mon Feb 21, 2011
Victoria,

The HOA of the home in Corsica is only $227 a year. The house is great! let me know if you have any questions. Thanks for your inquiry.
0 votes
Edyta Gryc, Agent, Naperville, IL
Mon Feb 21, 2011
Homeowners Association (HOA) fees are funds that are collected from homeowners to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs, cable tv, security etc. Fees are normally set by the HOA's board of directors and adjusted annually -they will vary from complex to complex.
0 votes
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