Latest / Connor with Honor: AI, Real Estate and Real Life / Home owners Associations and other Stevenson Ranch real estate data and updates including a new years resolution warning
Transcript
- 0:00hey everyone so you're thinking about maybe Stevenson Ranch is your next home especially with the holidays just around the corner oh yeah fun right talk about festive housewarming party definitely but uh you know before you start packing those boxes we've got to talk about HOA's oh yeah homeowners association yeah they're basically a given in Stevenson Ranch and we're gonna take a deep dive into what that really means for you as a potential homeowner or buyer okay and we're gonna use some insights from local expert Connor oh yeah Connor and his real estate update from December 17th, 2024 alright so Connor's update you know it really got me thinking about New Year's resolutions we always you know put things off yeah but sometimes the best time to start is right now and I think that applies to understanding HOA is too that's true it's easy to get caught up in all the excitement of house hunting oh totally just kind of push those details aside we just want the house you want the house especially in a market as hot as Santa Clarita is right now oh my gosh Connor's update mentioned almost 500 active listings with an average price around $916,000 yeah things are moving fast that's a lot of money yeah you know but those numbers actually I think hint at something super crucial about HOA's okay and their impact on property values hmm you see that 916,000 dollar average it's likely being driven up by these newer developments that are popping up everywhere makes sense and guess what newer developments tend to have higher HOA fees hold on I thought HOA fees were just for like keeping the community looking nice right why would newer developments have higher fees also developers often frontload those shiny new amenities to attract buyers so think you know resort style pools right state of the art gyms meticulously landscape parks uh huh you know all that stuff yeah those costs get built into the HOA fees make sense and since there are fewer homeowners in the beginning no to share those costs right the initial fees are often higher okay so it's not just about keeping things tidy right it's about paying for those luxury perks exactly got it hmm but back to Stevenson Ranch Connor basically said it's an HOA kingdom it's true every property seems to have one is that really the case it is very common in planned communities like Stevenson Ranch um think of it this way you're buying into a very specific vision hmm a curated lifestyle okay the HOA is there to maintain that vision right and ensure a certain level of consistency I got it okay so I can see the appeal of like you know a well maintained community yeah Boconner mentioned HOA fees ranging from $50 to over $1,000 a month yeah a lot how can there be such a huge difference that's where things get really interesting okay the range really reflects the diversity of HOA's and what they offer okay so basic HOA might just cover essential services like landscaping and common area maintenance right resulting in a lower fee okay but those communities with the resort style amenities that we just talked about right those can push the fees way up to the high end wow so it's not just about location right it's about lifestyle it is you're essentially paying for access to certain amenities exactly and a certain level of community management yeah you're buying a lifestyle I got it and don't forget about those hidden HOA costs that don't show up in the monthly fees okay Connor's update had a great point about understanding those covenants conditions and restrictions oh yeah the CCRs or CCRs yeah I've heard of those I've heard about those but honestly they kind of seem like a snooze fest I get it yeah they're not exactly you know light reading no but here's why they really matter okay imagine yo you fall in love with the house uh huh you're ready to sign on the dotted line yeah and then discover that the HOA has a restriction against say home businesses or maybe they have really strict rules about guest parking oh which could be a nightmare during the holidays okay now you've got my attention yeah those are definitely things I would not wanna find out right after I've moved in exactly and that's just the tip of the iceberg okay ccnrs can cover everything wow from the color you can paint your house the type of fencing you're allowed to install really some even have rules about holiday decorations believe it or not wait seriously they can like dictate what my house looks like during the holidays they can and that's why Connor's advice to really dig into those ccnrs uh huh before making an offer is so crucial no it's not just about the monthly fee right it's about understanding the rules of the game got it and making sure they align with your lifestyle yeah and your plans for the property okay so we've established HOA's are a big deal yeah Stevenson Ranch and those CCRs are something to really scrutinize definitely um but what about tax deductions yeah can you write off those HOA fees so Connor mentioned that yeah and he's right it's a tricky area okay tax deductions for HOA fees depend on a lot of factors like whether the property is your primary residence or an investment property that you're renting out okay it's always best to consult a tax professional to make sure you're following all the rules for sure maximizing any potential deduction yeah don't mess with the IRS especially not during the holidays especially not during the holidays right but um back to those HOA's and what they actually do on a day to day basis so their main job is to enforce yeah those CCRs that we just talked about okay think of them as the guardians of community harmony they wanna make sure everyone's playing by the rules right maintaining a certain standard okay so if my neighbor decides to paint their house bright orange and put up inflatable reindeer year round oh no the HOA can step in they certainly can really Connor used a great example in his update about a homeowner who painted their house black and orange wow very Halloween chic but not exactly in line with the community aesthetic yeah no the HOA stepped in and let's just say things got a little interesting oh HOA drama I know right sounds like a reality TV show it really does waiting to happen but beyond those colorful anecdotes yeah it's important to remember that HOA's have different approaches to enforcement okay and that brings us to the two types that Connor described you mean corporate versus self manage yes car made it sound like corporate HOA's are like the strict rule enforcers uh huh while self manage HOA's are more let's say flexible that's a good way to put it okay corporate HOA's tend to operate with a buy the book mentality you know they have standardized procedures right professional management companies handling the details okay and often less room for negotiation so if I wanted to put up a giant inflatable Santa oh a corporate HOA might give me a hard time they might they're really focused on consistency okay and upholding those CCNRs to the letter got it on the other hand self managed HOA's are run by the homeowners themselves hmm which can lead to a more personalized okay and sometimes more dramatic approach so with a self managed HOA it's more about who you know yeah and how well you can negotiate those holiday decorations it can be self managed HOA's offer the potential for more community involvement and flexibility in tailoring rules to specific needs but they also rely heavily on the personalities in dynamics of the people involved so potentially less strict yeah but maybe more drama possibly it's tough trade off it is but before we get too deep into HOA management styles okay let's take a step back sounds of a good plan we've covered a lot of ground and I think it's time to address the big question okay are HOA's really unnecessary evil or can they actually be well good good question that's the million dollar question right yeah are HOA's just a financial burden yeah and a source of endless rules or can they actually enhance your living experience I've always kind of leaned toward that like necessary evil camp you know all the fees and the restrictions it all feels a little much get it yeah but what if we shift our perspective a bit okay you know imagine this you move into your beautiful new home in Stevenson Ranch huh and instead of seeing the HOA as like the enemy right you see it as a resource a partner in creating a thriving community okay I'm trying to picture that yeah but it's hard to see past those monthly fees I know I get it but think about what those fees provide okay you know it's not just about landscaping and maintenance yeah it's about fostering a sense of community okay many HOA's organize social events holiday gatherings oh even neighborhood watch programs hmm I hadn't really thought about that side of it I guess a well run HOA could actually bring people together exactly and those amenities we talked about earlier the pools the gyms the parks yeah they become more than just perks they become spaces where neighbors can connect yeah kids can play and a sense of belonging can flourish so instead of like dreading those HOA meetings right maybe I should see them as a chance to like get involved yeah and actually shape the community now you're getting it yeah instead of just complaining about the landscaping imagine attending a meeting to propose a community garden or a neighborhood book club okay I'm starting to see the potential here but what about those CCNRs yeah aren't those just a recipe for like conflict and resentment they can be if they're not well crafted or enforced fairly hmm but think of them as a framework for creating a harmonious living environment okay those rules about property appearance noise levels right even pet restrictions uh huh they're designed to ensure that everyone's rights and preferences are respected it's a good point I guess I wouldn't want my neighbor right
- 10:17blasting heavy metal music at 3: 00am either exactly and those restrictions on home businesses yeah they might seem annoying at first uh huh but they're also protecting property values okay by preventing say a noisy auto repair shop right from setting up next door okay so maybe those CC and R's aren't just about being picky right they're about maintaining a certain quality of life for everyone precisely and that's why it's so important to review those documents carefully uh huh before buying a property okay you need to make sure the HOA's vision aligns with your own right and that you're comfortable with the rules of the game so it's all about finding the right fit it is an HOA that reflects your values and lifestyle exactly and remember you have a voice hmm you can attend those HOA meetings yeah voice your concerns right and even run for a position on the board if you're feeling ambitious okay maybe running for the board is a bit much yeah but I like the idea of being active participant yeah rather than just a passive resident that's the spirit yeah and remember Connor's update highlighted a really important point okay HOA involvement can actually pay off financially really how so what a well managed HOA can actually increase property values think about it okay a community with well maintained amenities a strong sense of community right and proactive leadership yeah is going to be more desirable to potential buyers that makes sense so those HOA fees aren't just in expense they're an investment yeah in the long term value of my property exactly and beyond the financial benefits there's the intangible value of living in a community where people care yeah where neighbors look out for each other right and where you feel a sense of belonging okay you've officially made me rethink my stance on Hois good I'm starting to see them in a whole new light that's what we aim for on the deep dive to go beyond the surface and uncover those hidden layers of insight I like it so for our listener who's on the fence about HOA's yeah especially in a community like Stevenson Ranch uh huh where they are so prevalent right what's the key take away here don't just write them off as unnecessary evil okay instead approach them with an open mind hmm do your research yeah consider the potential benefits they can offer and remember you have a voice yes don't be afraid to get involved hmm ask questions hmm and advocate for what you wanna see in your community exactly now back to Connor's update he had some great advice about navigating the Santa Corrita market especially during this busy holiday season yeah he really emphasized the importance of being prepared in your research yeah and understanding the nuances of Hua's yes before making an offer he also suggested a great strategy for getting a feel for the Hua VI oh yeah he recommended reaching out to current residents okay maybe even attending an HOA meeting or two hmm before you buy that's a great idea yeah I would love to get a sense of the community dynamics yeah and see those CCNRs in action so to speak and who knows you might even make some new friends in the process okay maybe I won't go that far yeah but I definitely see the value in doing my due diligence uh huh on the HOA front remember knowledge is power yeah the more you understand about HOA's right the better equipped you'll be to navigate the home buying process for sure and find the perfect community for new so before you fall head over heels yes for that charming Victorian with the white picket fence uh huh make sure you've done your homework on the HOA yes they could make all the difference in your home buying experience absolutely and speaking of home buying experiences yeah Connor's update had a great anecdote about some of his clients oh yeah who initially swore off HOA's oh yeah what happened there well they ended up changing their minds once they saw the benefits firsthand really yeah they were looking for that like low maintenance lifestyle okay and were initially put off by the whole idea of HOA fees yeah make sense but then they visited this community uh huh with a really active HOA and they were blown away really by the beautifully maintained common areas okay the resort style amenities and just the strong sense of community so they realized that they were essentially getting a lot of value yeah for their money exactly it's like having a built in concierge service taking care of all those like tedious tasks like landscaping pool maintenance even security patrols okay and then beyond those practical benefits right they discovered this real sense of belonging yeah this network of neighbors who looked out for each other and organized like fun community events I guess sometimes you have to see it to believe it absolutely yeah and that brings us back to Connor's philosophy yeah with embracing those New Year's resolutions now rather than later right if you're thinking about buying a home in Stevenson Ranch yeah don't wait until January to start exploring your options and understanding that HOA landscape that's great advice yeah don't let those house hunting goals yeah get lost in the holiday shuffle exactly and remember knowledge is power hmm the more you understand about HOA's right the better equipped you'll be to navigate that whole home buying process for sure and find that perfect community for you speaking of knowledge yes Connor is a wealth of information oh yeah on the Santa Clarita market definitely be sure to check out his updates for more local insights for sure and hey maybe this deep dive has even inspired you yeah to embrace a new HOA related resolution like attending an HOA meeting hmm you never know you might discover a hidden talent right for community leadership okay maybe not the board meeting just yet but I definitely feel more empowered to approach HOA's with an open mind and see them as an opportunity right to shape my living experience that's the spirit and remember yeah the best communities are built by engaged residents hmm like so to our listener who's ready to conquer the Santa Clarita market yes armed with their HOA knowledge and a positive attitude we say good luck and happy house hunting and remember don't just buy a house yeah buy into a community