Re: USA MORTGAGE
Originally Posted by shaunos
(Post 9213890)
What's HOA? Is this some sort of community association, for street maintenance etc?
They cover the local stuff like making sure you cut the grass to a certain length, you only have certain coloured fences etc. In a block of flats, the rate you pay goes up when there aren't many people living their to cover the costs, so with a lot of places going into foreclosure, in some instances you can find the HOA fee is higher than the mortgage payment and you won't know how bad these things are happening really unless you're living in the area. |
Re: USA MORTGAGE
Originally Posted by Bob
(Post 9213944)
Yes, housing association, if you live in a condo, block of flats or certain subdivision/gated communities.
They cover the local stuff like making sure you cut the grass to a certain length, you only have certain coloured fences etc. In a block of flats, the rate you pay goes up when there aren't many people living their to cover the costs, so with a lot of places going into foreclosure, in some instances you can find the HOA fee is higher than the mortgage payment and you won't know how bad these things are happening really unless you're living in the area. |
Re: USA MORTGAGE
Originally Posted by shaunos
(Post 9213890)
What's HOA? Is this some sort of community association, for street maintenance etc?
|
Re: USA MORTGAGE
Originally Posted by meauxna
(Post 9215974)
It depends.. something like you describe, and they are all different from each other. http://en.wikipedia.org/wiki/Homeowner_association
When looking for houses, I turned down two that were perfectly fine apart from the neighbours in HOA-less areas. Nothing like that where I am right now. |
Re: USA MORTGAGE
I live inside the city; we don't have HOAs either, but we have neighborhood associations, which are organized groups & part of city gov't. We help people figure out how to help themselves, ideally.
At least no one is ratting each other out for laundry flyingin the back yard & stuff like that. We may get the occasional purple house, but I think it makes life interesting. :) |
Re: USA MORTGAGE
Originally Posted by Bob
(Post 9211644)
Flogging a house costs a shed load more over here than it does in England though, you'd realistically need to be living in it for a good 5-7 years to make it worth it unless you're willing to make a loss over all. Of course that'll depend exactly on local housing market, but it's a ball park amount of time.
And even if you owned, you might still never know your neighbours either. Fair comment about knowing your neighbours - that was definitely true in the first house we owned back home, though we had fab neighbours at our last house. I hadn't really bargained for how unfriendly and isolating our little rental complex would be though. I think because it is a short term rental complex people just don't care. At least in your own house you can paint and decorate! Don't mean to sound like I'm ranting - I've just got cabin fever in our apartment and spent yet another fruitless day looking for a house to buy :( |
Re: USA MORTGAGE
Originally Posted by MadRad
(Post 9220260)
...At least in your own house you can paint and decorate!
Something to check about in the lease. |
Re: USA MORTGAGE
Originally Posted by Bob
(Post 9220282)
A lot of rentals allow you to do that as well though...just as long as you leave it in a decent shape after your lease, holes filled in etc.
Something to check about in the lease. Sadly not - we're in a month-to-month place and don't have a lease. Can't do anything apart from shuffle the furniture about a bit. We never expected to be in here so long, but it took a while to sell our place back home and then then place we were buying here fell through. Not a great deal else on the market yet. Still, I've kind of learned to love (or at least ignore) the animal print decor! (no joke!!):eek: |
Re: USA MORTGAGE
Originally Posted by Bob
(Post 9220282)
A lot of rentals allow you to do that as well though...just as long as you leave it in a decent shape after your lease, holes filled in etc.
Something to check about in the lease. speaking of closing costs... came across yet another bs garbage fee on the HUD of my buyers, from a place with initials WF - "shopping on-line fee" to the tune of $98!! lol. Words were exchanged! |
Re: USA MORTGAGE
Originally Posted by Tarkak9
(Post 9224368)
speaking of closing costs... came across yet another bs garbage fee on the HUD of my buyers, from a place with initials WF - "shopping on-line fee" to the tune of $98!! lol. Words were exchanged!
|
Re: USA MORTGAGE
Originally Posted by MadRad
(Post 9226265)
You mean your buyers were actually shopping online then trying to charge you for whatever they'd bought???? That's classic!
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Re: USA MORTGAGE
Hi, Having moved to Florida from the UK summer 2010 I am delighted to be renting and not a US homeowner as we intended.
1. The local market in Lakeland central Florida has dropped around 10% since we were looking for a house last March. 2. The lifestyle is so different to the UK who wants to decorate / fix stuff at the weekend when there is so much fun to be had! 3. I totally agree that any house or area that looks a bargain or the right area may not turn out to be. We would not buy in our neighbourhood as it is far too snooty! 4. HOA's are jobsworths, got a letter complaining that we left our kids basketball hoop out on the drive when not in use, makes you feel as if you just dont fit, horrible! 5. Market is likely to track sideways at best for some years, if the market picks up that will stimulate building, supply / demand kicks in and the market will remain steady at best. my 2c! 6. Foreign exchange risk and selling price costs if it doesnt work out. If the dollar tanks and you want to move back to the UK you could lose a fortune regardless of the housing market. And 6% commission to sell a house? Madness but true. 7. I am a happy hassle free tenant and I never imagined being a tenant - take the low risk option for a year and settle in first. 8. Good luck. |
Re: USA MORTGAGE
Desinflorida,
I would like to make contact with you but as I am a new joiner I have to wait until I post 3 messages so here is No1. We are a family seeking a move to Lakeland within the next year and visited the area last week. We are hoping to buy an exisiting business in a area next to Lake Parker. We looked at property in the North of the area, near I4 (SR33)(Bridgewater), although the general opinion seems to be to rent. We visited Wendell Watson Elementary school and believe that an area around it suits us. It would be good to be in contact with some one local and I would appreciate any local information that may help us. |
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