Get 6 months of free community web site hosting from Community123.com!
Thursday, July 02, 2009
Banking Solutions for Community Associations (NCB) (National Bank)
Finance repair projects or deposit reserve accounts with NCB, an industry leader with over 25 years experience. Learn More…
HOA Websites by Community123.com (National Community Website Provider)
We built HOATalk and we'll build your community website for free!  Click here for information on a free trial website.
IHG Insurance (National Insurance Provider)
Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability.
Community Associations Network (National HOA Reference Library)
News, articles and blogs about condos/HOA's
Only members have access to all features.
Click here to join HOATalk for Free! Members click here to login and access all features.
Forums > Homeowner Association > HOA Discussions
Subject: New Condos lead to decreased home values
Prev Next
You are not authorized to post a reply.
Author Messages
ChadU
(Ohio)

Posts:1
03/26/2006 6:53 PM  
I live in a new community in which the developer still runs the HOA. The developer also owned the land in which my neighborhood currently exists. His personal property(22 acres) is adjacent to my neighborhood and he has annexed it into a different township and recently put in for a zoning change to build 250 condos on his 22 acres. The residents of my community oppose this because of the increased traffic it will create and also feel that our property values will go down as the previous wooded lots are torn down and replaced with condos.

I feel this represents a conflict of interest and am wondering if we have any legal rights in 1.removing him from head of the HOA or 2. create an opposition,through the HOA, against the condo development because of the negative effect it will have on the houses in my neighborhood (i.e decreased property value).

RogerB
(Colorado)

Posts:3852
03/26/2006 8:13 PM  
1. Removing the developer from President of the HOA depends on whether you have enough votes to do so.

2. If the developer has to go through a planning commission you can organize and oppose the condo development during their hearings. You will have a better case if the land is not currently zoned to allowed condos.
Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 Email Roger at this address.
*See legal notice below (end of page) or go to www.hoatalk.com/legal
LuciusD
(Colorado)

Posts:139
03/26/2006 8:48 PM  
If "still runs the HOA" means the association is still in the "Declarant's Control Period" it may not matter how many votes you have.
It seems to me the first step is to inspect your declaration very carefully to determine what the declarant's rights and reservations are and what the specificed procedures are for relinquishment of declarant control.
If you are still in the legal "Declarant Control Period" the developer is in charge. In this case there is no "conflict of interests". He is serving his own interests. Why do you think he built your sub-division in the first place?
LisaS
(Illinois)

Posts:339
03/29/2006 8:39 PM  
As a Realtor (from your brief description), I agree with your assessment that home values will decrease. 250 condos on 22 acres in a lot!

The best avenue to oppose this is liekly at the zoning hearings. While you may not win (even if you are able to organize) you may at the very least be able to have some input for the project. For instance, if you have a strong argument regarding traffic, it can be diverted to another path. Existing tree line? Request it remain as a buffer. Too much density for the traffic on surrounding roads? request lower density.

Be prepared for the fact that your developer likely has a good attorney (there's lots of $$ involved for him...)and you municipality may be in bed with him (again, there lots of $$ involved...)
Lisa
You are not authorized to post a reply.
Forums > Homeowner Association > HOA Discussions > New Condos lead to decreased home values


General Legal Notice:  The content of forum messages are from the posting member and have not been reviewed nor endorsed by HOATalk.com.  Messages posted by HOATalk or other members are for informational purposes only, are not legal or professional advice and do not constitute an attorney-client relationship.  Readers should not act upon this information without seeking professional counsel.  HOATalk is not a licensed attorney, CPA, tax advisor, financial advisor or any other licensed professional.  HOATalk accepts ads from sponsors but does not verify sponsor qualifications nor endorse/guarantee any sponsor's product or service.
HindmanSanchez Legal Notice:  (For messages posted by HindmanSanchez) This message has been prepared by HindmanSanchez for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Members of HOATalk.com should not act on this information without seeking professional counsel. Please do not send us confidential information unless you speak with one of our attorneys and get authorization to send that information to us. If you wish to initiate possible representation, please contact an attorney in our firm. Our attorneys are licensed to practice law in the state of Colorado only.
Legal Notice For Messages Posted by Sponsoring Attorneys: This message has been prepared by the sponsoring attorney for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Readers of HOATalk.com should not act on this information without seeking professional counsel. Please do not send any sponsoring attorney confidential information unless you speak with the sponsoring attorney or an attorney from the sponsoring attorney’s firm and get authorization to send that information to them. If you wish to initiate possible representation, please contact an attorney in the firm of the sponsoring attorney. Sponsoring attorneys that post messages here are licensed to practice law in a specific state or states as indicated in their message signature or sponsor’s profile page. (NOTE: A ‘sponsoring attorney’ is an attorney that is a HOATalk.com official sponsor and is identified as such in the posted message or on our sponsor page.)

Copyright HOA Talk.com, A Service of Community123 LLC ( Homeowners Association Discussions )   Terms Of Use  Privacy Statement