This Is our Village

Tuesday, March 26, 2013

Another CV news clip- CNBC

http://money.msn.com/top-stocks/post.aspx?post=17ffd4b9-2cdf-490f-bc37-0b2ea29a10a5
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2 comments:

  1. ejs2283March 27, 2013 at 8:33 PM

    The following is a cut and paste of my earlier comment on this subject. I truly hope something is in the works to address "renegade" condo boards.

    My mom often said "be careful what you wish for, sometimes you get it." Getting C.V.'s name out there is a good thing. Units selling for 8-10k may even be a good thing. However, given the recent propensity of certain condo corporations to ignore UCO's recommendations concerning the sale/occupancy of units, I am very concerned about the financial stability and background of these new prospective owners. Will the new wave of owners be financially stable? Will there be a growing trend of more condo corporations ignoring UCO's recommendations in an effort to meet the condo's financial requirements?

    As I see it, one of the greatest challenges our leadership here at C.V. faces is establishing some oversight and control over those condo corporations who choose to ignore the rules that have kept our development a beautiful and safe place for over a half of a century.

    The slope is a slippery one when some condos do not "play" by the rules and/or choose to ignore them because they can. After a while others will follow suit.

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  2. Lanny HoweMarch 27, 2013 at 10:47 PM

    Everything takes time. When the current deep recession hit a few years ago, I couldn't understand why prices didn't drop more quickly in the Village. Owners wanted to sell, but not at even a slightly reduced price. (Why were they so boneheaded? I wondered.) Result: Nobody would buy at the still-high prices.

    When prices did come down, it surprised me how far they dropped, and then it surprised me why more people weren't snapping up the bargains.

    It simply all took time.

    Now the younger people (younger to us, we might keep in mind) are catching on.

    One of the lacks our associations have had is ABLE-BODIED residents who can help out physically with association needs and take an active part on our boards. Getting some younger people in should help--IF WE DO THIS RIGHT, as ejs2283 points out above.

    As our condos now begin to sell, it should also help reduce the number of nonpaying units--AGAIN, IF WE DO THIS RIGHT, and investigate and screen people properly. Nonpaying units were killing our associations, which had to make up for the shortage by letting some things go and charging the paying units more.

    UCO is limited in what it can do. Because we are separate, autonomous condo associations, making for the most part all our own decisions, UCO can only take a leadership role, acting in an advisory capacity. UCO can recommend, prod and cajole, and continue to do this, but that's about all. I hope our associations will all pull together to meet the need. I have hopes.

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