Value of HOA Covenants?
The HOA Covenants and Restictions in our neighborhood of single family homes is up for renewal at end of the year and would like imput from buyers/sellers/ RE agents as to positive or negative impact on property values of having C & R's. in place?
Total Comments 6
Comments
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It really depends on the area. Many clients do not like them but just as many do. Tell me which hood and I will tell you what my history may have been about your particular neighborhood.Posted 05-18-2008 at 09:01 AM by Bobby J
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Excluding goats probably helps values. As well as the obvious abandoned cards, mobule homes, minimum SF, etc.Posted 05-19-2008 at 07:14 AM by SoWalSally
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BJ - the neighborhood is Seabreeze next to Camp Creek Lake. Annual dues are only $200 so I can't see anyone making an argument of cost.Posted 05-19-2008 at 01:01 PM by tsutcli 
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There are good and bad things which go along with Home Owner Association covenants and restrictions. Some people look for active HOAs, while others avoid them like the Plague.
The covenants and restrictions aren't bad or good. That is left up to the judgment of the person who is reading them. Some people might want to park their six, unrestored "collector's" cars in the front yard, while others want to be assured that they know exactly what their neighbors' homes will look like, right down to the color of the exterior paint.
Value of HOA Covenants and Restrictions? They will have different value to different people. Tell a man that he cannot park his collector cars in the front yard, or that he has to paint his house, "Martha Stewart, Sandy Oaks," and he will say the C&Rs have zero value and will look to buy elsewhere. If you like knowing that you don't have to look at someone's junk cars from your front porch, that value of C&R's which cover that, increases greatly. How does one place a price on that? I don't know. It is a tough one, and it will vary from a positive number to a negative number, depending on the buyer/owner. It is purely subjective in my opinion.
If you are looking for particular feedback on Seabreeze C&Rs, to determine value for you, we would need to see how it fits your needs and wants.Posted 05-19-2008 at 05:05 PM by murray
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Murray is correct that is a tough one. I would think in your hood, reasonable C&R's would be helpful for value. Personally, I would prefer not to have them. The county guidelines protect you pretty well. It is tough because not really sure if it is necessary and we all know we have enough rules. If not reasonable, it may hurt you.Posted 05-19-2008 at 05:56 PM by Bobby J
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I'm surprised that they are up for renewal since most are carved in stone, unless a 2/3 majority vote to change. Are these C&R's or just rules and restrictions which usually require an annual renewal?Posted 05-27-2008 at 11:50 PM by SWGB
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