Villages of Columbus - Columbus Square - Camden Place

NEW -> Contingent Buyer Assistance Program
<em>asianvasian, I would not recommend not paying. They can foreclose on your house. It is in you CC&Rs</em>



What happens if <strong>everyone</strong> stopped paying? Are they going to foreclose everyone? Then they certainly will get no money.
 
<p>Would you rely upon your neighbor to keep up the fight when threatened with foreclosure? I would not. Unions are not as strong as they used to be. I am also not aware of any laws against "retalitory" foreclosures based on failure to pay HOA fees.</p>
 
how can they tell you that the hoa will be 323 at final build out and now it jumps to 400 bucks and the final build out is not even done yet. man 400 bucks a month is quite alot...... you will have a hard time reselling the place when you tell your potential buyer that hoa is 400 and mello roos is around 1.8%. on top of your asking price of say 492k.... got to add that 6% commission in. tough sell.....
 
<p><em>how can they tell you that the hoa will be 323 at final build out and now it jumps to 400 bucks and the final build out is not even done yet.</em></p>

<p><strong>You buys your tickets...you takes your chances</strong>. Especially true in this market where communities aren't even built out 100%. </p>
 
<p>jbatz, </p>

<p>The CC&R allows for adjustments for the HOA fees depending on situations. Generally, that means a reduction of HOAs but not in this case. </p>
 
doesn't that depends.... i always thought it would go up since there is more to maintain and the builder's money that they put in at the begin runs out.
 
Man, how times do change! I posted a while back about the insanity of paying $1000 HOA/fees/taxes, etc. for Clarendon units, and the homedebtors attacked. They stated that they liked HOAs and the ease of someone else doing external maintenance, community amenities, etc.



Fine, but when did money stop costing money??? $400/mo is crazy!



My RENT in Costa Mesa is $1000/mo - close to the bluffs, south of 17th Street, great neighborhood, etc. There are co-workers paying $1700/mo. for 1 bdrm. IAC units near the Spectrum that are smaller than my place, and they can hear everything their neighbors do, have to negotiate stairways, elevators and hallways to get to their front doors, park remotely, etc.



Yes, my place is old. No, I don't live in a complex with amenities. But I don't have upstairs neighbors, its built like a fortress - I can't hear anything my neighbors do, I have a huge fenced patio, and live in a fantastic neighborhood blocks from the bluffs overlooking Newport Harbor.



Why do people pay so damn much money to live in these apartment complexes sprouting up all over the place, and why would anyone pay $1000+ in HOA dues/taxes/fees, etc.? My female coworkers love the perceived safety, the pools, and gym, which I do understand. But it still seems like people just pay too much for marginal products.



I sincerely don't understand...
 
CM_dude. i think you got really lucky getting your place for only 1k a month. is it privately own? the owner probably don't know what they can get for your units or maybe just don't care. you can't get the same now even if you look around that area. i pay 1200 for 550sqft apt in HB and it isn't great. but it will do for now since everything else around is cost more.
 
CM_Dude - how big is your place. $1000/month is amazing! We have a 2b/2b IAC apt and our rent is $1900- I looked into Costa Mesa before moving into Irvine and I could only save $200 max per month and not have an in-apt washer and dryer which is a huge inconvenience. If I could save substantially more, I would consider it but not for $200.
 
jbatzmaru and rkp - the key is small complexes owned by private owners. My place wasn't advertised, it had a "for rent" sign, hand-lettered and stuck in the grass by the curb. It was built in 1958, is about 750 sq ft, has inadequate closet space and isn't insulated - BUT, the ceilings are vaulted and the heater works great. The patios is huge and I have a nice ploy of dirt where I grow vegetables. The landlords are a great elderly couple, and they have handymen who do maintenance. It ain't IAC, I don't have a pool or gym, but I wouldn't trade it for the world. I've been here a while, and new tenants pay $1200. When the market gets more realistic, I'll buy.



Costa Mesa is filled with these places. They have "character" and are often quite inexpensive. You won't find them in any apartment guide or rent.com, I found this by driving up and down the Eastside CM streets for two months looking for signs.
 
<p><em>Translation: I live in a dump.</em></p>

<p>Uhhhh hardly. He lives in east side Costa Mesa and the area is far from a dump. Still has that family feel of the 1960's and is still an extremely desirable place to live. The area is littered with $900K homes and is not in a distressed/foreclosed area. </p>
 
asianinvasian,



On the Westside, you would generally be right, but Seventhree is absolutely correct, my neighborhood is bordered by Ogle St. to the north, Irvine Ave. to the east, E. 15th St. to the south and Orange Ave. to the west. Do a quick little tour on Zillow or Redfin - it is a very affluent area of wide streets, great homes (not tract homes, either) and huge lots, with these little 4 - 10 unit apartment complexes sprinkled about. One block of Ogle is entirely 3-unit apartments, which some opportunists are converting to condos and selling for $600k.



If you need a point of reference, look at the location of Heller Park in Costa Mesa. My apartment is old. By character I mean old - louvered windows, small closets, small bathroom, small kitchen with a small oven and refrigerator cut-out (by today's standards). The rooms themselves are huge - as is the patio.
 
<p>If the current rent is $1200 for 750 sq ft, thats $1.60 per sq ft. My apt. is 1030 sq ft so it would be $1648. That means that I am paying $250 more than the same sized place in Costa Mesa. However, I doubt it comes with all appliances including laundry and is nice inside as a new IAC apt. </p>

<p>I am not trying to saying anything is wrong with what you are renting. Just saying that its about the right price for the product. I could get a 2b/2b IAC apt for $1700 which is older and doesn't have a washer and dryer in unit. </p>
 
rkp,



With new tenants paying $1200, it isn't such a fantastic deal from an amenities and price/sq. ft. perspective. It is very close to the beach, and the price for me is a very recent increase from $925.



I think you hit the nail on the head - you get what you want to pay for. I could care less about standard IAC amenities and I have a serious dislike of large complexes. Not saying they're all bad, I lived in Baywood and those places are quiet as a church, but some of the newer, super-pricey ones have terrible noise insulation. I dated a woman that lived in Newport Bluffs, and you could hear everything the neighbors did upstairs, people entering and leaving the stairwells, etc.



BUT, new appliances, gyms, pools, in-apartment laundry, etc. are worth hundreds of dollars for folks who want them. My girlfriend lives in a HUGE 2bd/2ba, yard, attached garage, in-apartment laundry, closets galore, huge kitchen unit in Lake Forest, pays $1720 and wouldn't leave it for anything.



We live in an expensive area, and it just blows my mind that it is now considered reasonable to pay what used to be a mortgage payment on a decent place for a ONE BEDROOM apartment!
 
VOC is not any better or worse than any other new community... the only reason some others are a little cheaper right now is because the IC is pitching in... otherwise portola and woodbury etc... would be even more...



yes it's a lot of extra non-mortgage cost, but that is fully disclosed before you signed on the dotted line...
 
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