At one time in the not to distant past one could make a valid argument for the need of a HOA in a new community. Among its strongest arguments was the idea that a good HOA keeps the home prices from falling below value simply because homeowner are required to maintain their homes. It protected those in the community and insured that the home you were buying was a valuable asset when it came time for you to sell, BUT....
Now that the housing industry has tanked and homes are below mortgaged value in many cases I believe we need to re-evaluate the benifits of these HOA's. In a market where selling is a difficult thing already, is it not concievable that a buyer would pass up a home where they are required to pay a monthly or yearly fee to an HOA? Does this then mean that those who COULD HAVE sold their homes and NOT faced a forclosure are being FORCED by the STATE into forclosure simple because they DEMAND there be HOA's. Is it not at that point that the HOA become a liability and no longer an asset??
Should we as faithfull homeowners who are struggling to make our mortgage payments really be faced with the added stress and worry that we can be pushed into losing our homes BECAUSE WE DON'T PAY OUR HOA DUES?
I propose that it is high time that the State of Florida gets the heck out of the housing industry and stops requiring new developments to have HOA's, as well as giving the right of home owner ship back to those of us who do own a home by allowing us to OPT OUT of existing HOA's that are now causing more problems than they are solving.
Bottom line...i signed a contract with my MORTGAGE company to purchase my home...NOT the STATE OF FLORIDA and I think I should have the right to OWN MY HOME without a bunch of bored individuals wasting my money every month or threatening to take my home from me.
