Robert Wiechelt, a highly visible Realtor in the San Diego downtown market was also present and shared his experience from a Realtor’s perspective.
Ned was asked to share his expertise on basic topics such as “What is an HOA?” and more in-depth topics like “What can buyers expect in terms of amenities and assessments in the San Diego urban arena?” He shared his insight regarding the types of amenities that are common in urban buildings, such as full time security and fitness centers, and he reminded the listeners that they should know what they are paying for when purchasing a condo. “In essence, what do people want, and what are they willing to pay for it? Everything has a cost attached to it, so if full time 24-hour security service is important to the HOA community, the service is certainly out there and available at a cost” Ned pointed out. Ned went on to say that “good board of directors are looking at the needs and desires of the homeowners.”
The discussion focused on the need for HOA assessments, and that at the end of the day the HOA exists for the benefit and overall maintenance of the building, which translates to increased value of the homeowner’s investment. Ned, Craig and Robert all agreed that the HOA model is a turnkey solution, especially when buying in a downtown high-rise.
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