Real Estate Agent · San Diego, CA · Member since 2015 · 293 posts · 109 votes
So I've been driving for dollars lately in areas that have no HOA attached to them. These areas are about 30 miles from my primary residence and I am wanting to find stuff that is closer to home if possible. The only problem with that is that all the communities around where I live are newer and are all part of HOA's.
My question is how do I find the distressed/vacant properties when they are tied to an HOA? Areas with no HOA make it easier to discern which houses are most likely vacant, does this ring true in HOA neighborhoods as well?
So far, the little bit of driving for dollars I've done around my home area, I haven't noticed any "distressed" looking properties, and I am wondering if I may be missing some potential investments.
If the home is vacant, is there anyone who is then responsible for maintaining HOA standards, or should it fall into disrepair just like non-HOA properties?
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
9y
Why does it matter if it has an HOA or not. If it is vacant, and it does have a HOA association, there may or may not have any HOA fines. It depends on how the house was taken care of. I don't know how it is in Arizona, but here in Florida many people own houses here but only live in them part of the year. Do you call these vacant?
Real Estate Agent · San Diego, CA · Member since 2015 · 293 posts · 109 votes
9y
I would not consider those vacant - we have the same situation here in Arizona. By vacant I mean truly vacant, no one living there.
As far as why it matters if it has an HOA, I am asking because HOA's make the property owner maintain the appearance of the house. However, if the house is truly vacant, would the HOA be able to enforce the appearance standards in order to keep the house looking nice, or would the typical distressed property signs start showing up, I.e. over grown vegetation, newspapers piling up, etc.?
Basically I'm just trying to figure out how to find the vacant properties in neighborhoods with HOA's.