HOA Assessments are going up for new developments!
As Chair of CBIA's Department of Real Estate (DRE) Committee, we have seen the DRE's new pricing manual for new homeowner associations. There are a lot of changes, but the main one is a 25% increase from their current pricing manual, among others. We have been given a 30-day window for comments and to request changes to the document before DRE implements it at the start of the year. I would love to hear from YOU about what this means for your communities and builders.
We all know prices are going up, but we also want to make homeownership affordable and stay within what is being seen by the industry.
As your sales pace may slow down and costs go up, this is a perfect time to rephase your development and lower your carrying cost of HOA dues on unsold lots.
Please contact us if you have any questions or concerns. We can answer any questions about your current project, future project plans, or others. We're here to help through these times.