Hours of research has been done into the topic of the value of an HOA. Millions of words published and countless video's produced. I've spent hours looking for something simple amongst all the information out there and haven't found it. I do have something in mind though, that I think simplifies the value of an HOA and the metrics by which we can measure success towards a goal. There are just two parts two it. One easily measurable (real estate values) and one less so (enjoyment of life).
It's this:
When market real estate prices are increasing, Fairway Springs homes should increase at a higher rate than that of the closest neighborhoods feeding the same schools (competing neighborhoods).
Inversely, when market real estate prices are falling, Fairway Springs homes should decrease at a lower or slower rate than that of the closest neighborhoods feeding the same schools. Simultaneously, the community offers as much peace and solitude or events and activities as are sought for optimum personal enjoyment.
That's it. Dead simple and easy to track. Useful for measurable progress to our objective.
All the deed restrictions compliance, rules and regulations, enforcement activities, architectural form filling, yard work and house care serve but one purpose; that of curb appeal. In real estate terms, curb appeal is that unmistakable attractiveness of a home when viewed from the street.
You know curb appeal when you see it. The lawn is beautifully manicured, green, and well edged at the sidewalks, driveways and around the flower beds. Trees, shrubs and bushes are well cared for and look like it. Roofs are new or clean. Driveways and sidewalks have no mildew or stains. Paint on walls, doors and window frames is consistent and not patchy or flaking. Unsightly clutter, trash and things not in keeping are hidden from sight.
We already have the largest lots and widest streets of any of our competing neighborhoods. We're one step up as a neighborhood. Sure, our houses are older, but they were built well and with creativity and care, the insides can be at least as attractive and functional as some of the newer builds.
Add in a clubhouse and pool that some neighborhoods do not have and we become more attractive. Layer in a functioning calendar, full of events in the daytimes and evenings, weekdays and weekends, for the young and the old, for individuals and for families, clubs of likeminded individuals and community gatherings and our attractiveness increases considerably.
Now, if we can get it all right, of the 100K people a day who are moving to Florida each day from across the country, our little oasis of a neighborhood, stands out. We'll have curb appeal of the whole community as seen from 54, curb appeal of each one of the 406 homes in our neighborhood, widest streets, biggest lots and an active community spirit with fun for all or the quiet relaxing back yards to sit in and relax and we'll have nailed it. Our house prices will be protected and our enjoyment lifted.
That's the value of an HOA and that's the value that this Board, and I hope, subsequent ones, will work towards for Fairway Springs homeowners.
We'd love your thoughts on this and any other topics like this, so please, take to the comments below. Let's always have open dialogue. We are listening.
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