Archive for the ‘Condo/Townhouse Common Interest Development’ Category

Cupertino Schools: De Vargas Elementary, Hyde Middle, Cupertino High

June 15, 2013

Cupertino Schools: De Vargas Elementary, Hyde Middle, Cupertino High
3bed 2bath 1230sqft townhouse with garage + carport

PropertyFlierDeVargasHydeCupertinoHigh4545CarawayCtSanJose95129

 

 

 

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New California Real Estate Laws Coming 2012: Water-Conserving, Mining, No Fee Bundling for HOA Disclosures

November 17, 2011

Three New California Real Estate Laws Coming in 2012 are:
1. Senate Bill 837: Sellers Disclose Water-Conserving Plumbing Fixtures
2. Senate Bill 110: NHD Companies Disclose Mining Operations
3. Assembly Bill 771: No Fee Bundling for HOA Disclosures

In more detail:
1. Senate Bill 837: Sellers Disclose Water-Conserving Plumbing Fixtures
Effective January 1, 2012, the Transfer Disclosure Statement (TDS) will include a check-box in Section A for the seller to disclose whether the property has water-conserving plumbing fixtures (e.g. low-flow toilets, shower heads, and faucets under section 1101.3 of the California Civil Code.

2. Senate Bill 110: NHD Companies Disclose Mining Operations
Starting January 1, 2012, any natural hazard disclosure (NHD) must disclose whether the property is located within one mile of a mining operation, according to the map coordinate data from the Office of Mine Reclamation.

3. Assembly Bill 771: No Fee Bundling for HOA Disclosures
The HOA cannot bundle the fee for providing required HOA disclosures with any other fees, fines, or assessments. This law will prevent an HOA’s third-party document preparation company from bundling together both mandatory and non-mandatory HOA documents and charging a higher fee for providing ALL the documents.

Also, the HOA is prohibited from charging any additional fees for electronic delivery. These must be available to a requesting party if the HOA maintains the documents electronically.

Additionally, at buyer’s request, the HOA must provide 12 months of approved minutes of the association board of directors meeting.

Delivery of the required HOA documents must be accompanied by a cover sheet itemizing the documents.
Posted by Robert Real Estate (408) 596-3188 at 8:14 PM
Labels: 2012, Bundling, California, Coming, Conserving, Disclosures, Fee, HOA, Laws, Mining, new, No, Real Estate, water

Mountain View Townhouses / Condos with Garages

March 8, 2010

Mountain View Townhouses/Condos appeal to many young software gurus that work in that area. Townhouses and condos have the advantage of no yard for maintenance, but what about storing your stuff? Here I’ve listed a few townhouse/condo complexes in Mtn View that provide each unit with a garage for car and storage space.

Rock Street (Townhouse):
Walking distance to Google Campus
1 Car Garage Detached
3 Large Bedrooms + 3 Full Bathrooms (all 3 with separate vanity areas)
2 Master Suites with Vaulted Ceilings
Solar System
Loft Area for Office or Library
Inside Laundry
Association Fee $348
Price high $600s

Showers Drive (Townhouse, “The Crossings”)
Walk to Caltrain Station + San Antonio Shopping Center
1 Car Garage Attached
Los Altos Schools (Covington Elem, Egan Intermed, Los Altos High)
Vaulted Ceiling
Open Floorplan
Central Heating and A/C
Association Fee $156
Price low/mid $600s

Latham (Condo):
1 block from El Camino
1 Car Garage Detached
2 Bed 2 Bath

HOA too low could be a red flag

February 3, 2009

Nobody likes to pay very high HOA dues. However, buyers should also be wary of complexes in which the HOA is very low. For example, if a 15 year old condo complex only collects $180/month, then you should worry whether the association is collecting enough for reserves. What if later the roofs of the entire complex need to be replaced? Depending on the size of the complex, this could easily cost in the ballpark of $3-6 Million. Dividing that by the number of units, this could result in a special assessment of $40k – $60k for each unit in the complex. That’s a big financial shock to most owners.

Beware of condos approaching 10 yrs old

February 3, 2009

Condo homeowner associations have a 10 year window in which they can sue the builder. Due to this time limit, HOAs usually sue the builder just before the 10 year deadline approaches. During this time, the homeowners cannot refinance, see no appreciation, and have trouble selling their home. The average litigation lasts 4 years.