Home Owners Association Shapes Community
ALISO VIEJO, CA, July 20, 2007 – There is an estimated 250,000 Home Owner Associations (HOAs) in the United States according to the Community Association Institute. Since HOAs govern property usage these groups have increased their power over the desirability of neighborhood of the last decade. An understanding of the rules and regulations add relevance to the service that the real estate professional provides. This is but one more added skill attained when agents take the new Certified Neighborhood Specialist (CNS) program designed to help agents become true “Neighborhood Experts.”
Most new developments are being created with a Home Owners Association attached, often times this is required by the city council prior to building the neighborhood. But regardless if an agent specializes in a new or an established neighborhood with a Home Owners Associations, he or she must know all the details. Theses details are more than just the basics such as the dues and when they are accessed. As a “Neighborhood Specialist” agents must understand the rules and regulations that can impact future homebuyers. According to the Community Association Institute this could include many aspects such as Pets, Solar Panels, Roofing, Maintenance, Home Businesses, Gardens, Clotheslines and Exterior Decorations.
Knowing the details of your neighborhood association and asking qualifying questions to potential purchasers can save vast amounts of time. Save time by enabling your buyers to avoid making offers on homes that would only be voided once the buyer found out about restrictions that they would not be able to live with. Gain credibility by knowing the facts of any association and passing this information to your client.
Additionally, a true neighborhood expert should have a good understanding of their finances…more than just the dues, but assessments, cash-flow, delinquencies, etc. During a normal process of closing, a typical buyer has less than two days to read Covenants and/or Community Rules of a Home Owners Association, not nearly enough time to make an informed decision. By having the necessary understanding of your neighborhood association agents will be empowered to ensure that their clients are purchasing the right home.
Become a “Neighborhood Specialist” and learn more homeowners associations and all the 101 other aspects that impact neighborhoods across the country by becoming CNS certified. For more information visit www.cnsdesignation.com.