Beware - Southridge HOA Driving Down ...

Beware - Southridge HOA Driving Down Values Through Covenants

Posted in the Marengo Forum

Southridge

Portage, IN

#1 Apr 18, 2009
In this economy and horrific real estate crisis, you would think that people would want to assist in doing whatever it takes to protect the little value we have left in our real estate investments. This applies to everyone except the Southridge HOA Board. This group of individuals would rather enforce crazy HOA covenants not allowing fences or storage sheds on certain lots instead of protecting our real estate investment.
As a homeowner in Southridge, I have had my home on the market for 14 months. About 3 months into this process, I had a buyer for the home that had negotiated verbally (I came down $15,000) and just needed to firm up the offer in writing. All was going well until they saw the HOA bylaws prohibiting a fence. The HOA Board was approached and the agent was instructed that a fence was not allowed - put up trees. The buyer backed out. 2 months later, we ended up lowering the price of our home $75K, which caused a chain reaction through the neighborhood where multiple homes were for sale. As a result, 4,000 sq ft homes that were once valued in the mid-$400K's are now worth on average $75K less across the board.
This week, I finally had another buyer ready to place an offer. Deja vue - this couple wanted to build a storage shed. Upon reading the covenants which prohibit this, they decided not to write an offer unless a waiver was received. Round 2 with the Southridge HOA Board. Upon approaching them, the answer is no. Unfortunately, I even tried to devalue my home more by offering to lower the price another $10,000 - clearly the storage shed was important.
I'm now having to try to contact my neighbor behind me who is not part of the subdivision to buy a very small sliver of their lot for the sole purpose of offering my buyer the ability to build a shed.
If you live in Southridge, be very concerned. These people that are supposedly protecting your investment are actually making very uninformed decisions and devaluing your investment.
Hmmm

Janesville, WI

#2 Apr 19, 2009
We live in a different community but I can feel your pain. We have been selling our house for about a year now and our HOA is not helping either. We are not allowed to park on the driveways or streets. WHERE ARE PEOPLE SUPPOSE TO PARK? I wish you luck in selling your home.

“WTF”

Since: Jan 09

Glen Ellyn, IL

#3 Apr 20, 2009
Southridge - I, too, live in a subdivision with ridiculous covenants. I agree with some and not others but the purpose is to keep the value up in the subdivision. For the longest time, we were not allowed to fence our property until the neighborhood jackass went ahead and did so without board approval. I have to say, it is one ugly site and, in my opinion, has ruined the look of the subdivision. Fences are now allowed and I pray no one else installs one. I do sympathize with your situation but I think you may be hurting yourself by lowering the price of your home. I think you just haven't found the right buyer. Do you have to sell right now? Maybe it would be to your advantage to take you house off the market for awhile. I wish you luck!
HeartlandPatriot

Genoa City, WI

#4 May 7, 2009
Rules are rules . Many neighborhoods forbid fences. Get over it. You knew this when you built and / or bought there, correct?? I don't find this a ridiculous rule. It is very common.

Without covenants your neighborhood would not be the nice area Southridge is. It would look like Doral Ridge.The have covenants but do not inforce. Then all the yahoos in there do what they want- tack or not.
Red one13

Genoa City, WI

#5 May 9, 2009
Yeah!
Feelinit2

Harvard, IL

#6 May 13, 2009
It seems in the case of a shed it should be allowed. The association could review the construction plan for the shed(the appearance of the shed)to ensure it is not "tacky" - and allow it. Some lots in the neighborhood have sheds, some do not, what gives? The association needs to be a bit more flexible particularly in these times.
The Past Board

Scottsdale, AZ

#7 Apr 1, 2012
In response to the homeowner from Southridge. When you purchased the home, you did so with the excitement of the covenants you are now complaining about. We take pride in our neighborhood and as a homeowner myself, value the covenants to keep us apart from the same old look as other subdivisions. From what I recall, that was a selling point for your move into Southridge to begin with.

You chose to lower your home value, it had nothing to do with the HOA. Not only were your requests against covenants, but any alternative suggestions were immediatly ignored. Furthermore, it would have made the property out of complience with the County as well as the Covenants.

We, as an HOA have guidelines to follow, not only from the original HOA, but from the County as well. What you wanted to do, just to make a sale could not have been done, even if we wanted to allow it. There are things called easements and drainage systems and lot lines and septic fields.

You are so angry at your own decisions that you feel it necessary to blame whoever you can, when the fact of the matter is that, the same conenants exsisted when you moved in to protect your home, and the same ones exsisted when you left. So the fact you didn't get what you want for your home is not our problem, it is yours. If you wouldn't have badmouthed every potential buyer about the HOA, you would have sold it alot sooner.

You only have yourself to blame...
Jan Michael Vincent

United States

#8 Apr 5, 2012
HOA are run by mostly people who were never important. Now drunk with power they screw up the basic intentions of the HOA

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