HOA Orders TARDIS Removed From In Front of Parrish Home 320
An anonymous reader writes A Florida couple learned that they are much bigger fans of Doctor Who than their homeowner association, after receiving a notice to remove the TARDIS from their driveway. Leann Moder and her husband David were given 15 days to get rid of the big blue box. From the article: "It was built by Moder's father as a wedding set piece, and she and her husband, David, were married in front of it. 'My husband mentioned, "Do you want to do a Doctor Who themed wedding?"' Moder said. 'That could be fun.' Since then, their TARDIS has been used at sci-fi conventions and parties, and was even the focus of a Halloween haunt the Moders set up on their driveway in October." The HOA had no comment on their stance on sonic screwdrivers, or the Eye of Harmony.
Conform or be expelled (Score:5, Funny)
The homeowners association demands that unless every single house has a TARDIS in their front yard, yours must go.
Re:Conform or be expelled (Score:5, Insightful)
If you don't want to conform, don't buy a home there.
HOAs are completely up front about those things and if you don't read the bylaws before buying, you're a dumb motherfucker.
Re:Conform or be expelled (Score:5, Informative)
That's all fine and good when there are infinite houses to choose from. In the real world, resources are limited, and most nice places already have overlords controlling them.
Re:Conform or be expelled (Score:5, Funny)
That's your fault for buying a house in a Zerg area.
Re:Conform or be expelled (Score:4, Informative)
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Re:Conform or be expelled (Score:5, Informative)
Actually very few areas in the US have HOAs. It's just that they are the more rich, white areas, which are more desirable. I've never lived in a place with an HOA, and only a handful of people I know live in such areas. They are often more expensive, as you are paying for the "privileged" of having someone boss you around. There must be lots of people into that. Though my current house is in an HOA area, but the HOA wasn't strong enough, so I bought the house from people who didn't sign the HOA paperwork (no idea how many owners before them didn't), so I own a non HOA house in an HOA neighborhood. Or maybe only the homes that have a plot at the local airstrip have to join the HOA.
Inaccurate. My sister's condo in a not fantastic area of Salt Lake City, Utah, has an HOA, and typical unit price is ~$80-$100K, which will buy you ... nothing ... in most richer areas.
Typically, an HOA is a corporation the developer creates to market and sell lots and houses in a subdivision (or units in a condo complex). After that, membership becomes part of the restrictive covenants on the deeds of the properties sold within the development boundaries, and after a certain number of units have been sold, the ownership and responsibility is passed off to the owners within the development.
HOAs cover about 25 million houses in the U.S., and close to 60 million people, which i to say, 20% of the U.S. population.
Last time I checked, not even 20% of the U.S. population count as "wealthy" (i.e. not having to work unless they choose to do so).
Re:Conform or be expelled (Score:4, Interesting)
The main difference between HOA and non-HOA development is not the price range of the development, but rather the age of it. Up until something like the '70s or '80s almost no new subdivisions had HOAs; by the '90s almost all of them did. Therefore, if you want to live in a house less than 30 years old or so, you're probably going to have to accept an HOA.
The correlation with richer, whiter areas is merely a consequence of white flight.
Re:Conform or be expelled ( no fined ) (Score:3)
Disclosure: I am a realtor, mostly on the sell side 96% of the time, not representing the buyer. 4% representing the buyer. So I will speak from the selling side. And a big Doctor Who fan from the 80's
HOA's, condo's, and Co-op's are a form of corporations (non-profit) that run the land you are on and issue a set of rules you need to abide by.
When you buy into any of the above, you are required to abide by those rules. When I do a transaction I am required to present to you the rules of the association, some
Re:Conform or be expelled (Score:5, Informative)
Actually very few areas in the US have HOAs. It's just that they are the more rich, white areas, which are more desirable.
Not in my experience (for whatever that's worth). I was part of a HOA with the first home I ever bought, which was part of a very middle-class neighborhood of townhouses. The development was a mix of older middle class families and younger first-time home buyers or - increasingly - immigrants who were taking advantage of the mid-2000s real estate situation to buy homes. I received a number of asinine warnings from the HOA about stuff like "you need to repaint your gutters within 30 days or zOMG CONTRACTUAL HELL WILL RAIN DOWN," which was enough to make me hate HOAs forever. But the real ire of the HOA was reserved for the immigrant families.
And, at the risk of being very politically incorrect, what the HOAs were doing there was fighting behavior that had a potential impact on property values for the whole development. Townhouses with 5-8 cars parked outside around the clock, indicating huge over-occupancy; men hanging out all over the steps and front yard all day; loud parties late into the night, etc. Why? Potential racism aside, it was because the people in the neighborhood were not so well off that a decline in property values due to their neighbors' actions wouldn't have a big impact on them. Years later, when I moved into a much nicer/richer neighborhood, there was no HOA to be found - nor would the proudly wealthy and independent residents have stood for anyone telling them what to do with their property.
I am not condoning targeting any group for HOA persecution, and again I was very put off by my experience with a HOA. But I am saying that HOAs are not generally needed in neighborhoods that are so rich that anyone who would degrade the property value couldn't move in there anyway. HOAs will tend to be most prevalent in those areas which are "kinda white" and/or "kinda rich" where there is some worry that people who could move in there might disrupt the community or lower property values. In truly rich/white places, there is simply no need for that.
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This is why I told my real estate agent that I didn't want anything with a hoa... I don't want anyone telling me I can't install a large patio with fire fit and grill... My house isn't worth near that but depending what state you are in mine may be bigger.
a $400k home in my area usually doesn't have neighbors and comes with 3 - 5 acres and are in the 4k sq ft range. $700k homes are usually over 4k sq ft with 5 or more acres private lakes or ponds and stables.... These guys don't worry about hoa
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Re:Conform or be expelled (Score:5, Insightful)
Not in my case. I didn't see the bylaws of my HOA until I had been it's president for 18 months. It didn't help that it was in a messed up master-sub association hierarchy intended to leave the power in the hands of the developer, so there were multiple sets of rules flying around, only a subset of of which were passed to homeowners.
Fortunately, that leaves the HOA relatively powerless if it comes to a lawsuit and my goal as president was to stop the crazies trying to use the HOA as a tool to crap on their neighbors and settle old differences.
HOAs are evil, in that they are perfectly constructed to set neighbor against neighbor. We would be better off without them.
Re:Conform or be expelled (Score:4, Insightful)
And to think, some folks think we could have *no* government at all because private parties would never do such things...
Re:Conform or be expelled (Score:5, Insightful)
No matter where you go though there will be petty politics when you arrive. If you ever find a group of like minded and enlightened indivuduals maybe things will work out briefly until someone cranky moves in and disagrees with everyone else. Soon you get a big collection of nutty guys in the neighborhood and they start getting elected to the HOA board, which is actually pretty common because the sane people want nothing to do with being on the board.
Then it turns out that to "take your business elsewhere" is an extremely onerous task - uproot yourself and the family, sell the house at a loss, move to another neighborhood, and take your chances all over again.
Re:Conform or be expelled (Score:4, Interesting)
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Re:Conform or be expelled (Score:4, Informative)
Woefully wrong interpretation of the law in the jursidictions that I'm familiar with.
The whole reason that rather tony old neighborhoods do not have HOAs while rather tony new neighborhoos tend to have HOAs is that HOAs are created through a deed restriction. When you create the subdivision you create the HOA. Where the subdivision already exists, there's no single body that owns the properties and can tie their deeds together.
You're on constructive notice concerning deed restrictions. If you fail to research the bylaws and regulations springing out those restrictions, it's on you -- the HOA will likely win the suit that they bring against you.
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That's wrong. It's the seller's responsibility to ensure that the buyer is aware of the CC&Rs. If the seller fails in that responsibility, he may be liable to the buyer because the buyer didn't get what he thought he was paying for. But the CC&Rs still apply.
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Re:Conform or be expelled (Score:4, Informative)
If you don't get the bylaws before you buy, and sign them before you buy, then you aren't bound by them.
That is completely false.
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You should have asked for the CC&Rs when you bought the place. If you didn't, it's your fault. If you did and the seller put in writing that they were none, it's his fault and he is liable.
You're free to buy in places without HOAs.
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Sometimes you run into problems though:
1. Life changes. People get married and trade in their coupe for a 4 door or even a SUV when they start having kids. However, a home is a much longer term investment.
2. Not being aware - they should be, but many have the blinders on for the purchase of their new home. Like anything, home buying is something experience makes you better at.
3. The character of the HOA itself changing - the old busybody dies or retires, you get a new one that's even more a fussbudget
Re:Conform or be expelled (Score:5, Interesting)
"HOAs are completely up front about those things and if you don't read the bylaws before buying, you're a dumb motherfucker."
Wrong. The "consent" to the "contract" is usually a legal fiction known as "constructive notice"; i.e., the H.O.A. corporation's governing documents were filed with the county, therefore the homeowner should have known about them.
This concept was best illustrated in that scene from "The Hitchhiker's Guide To The Galaxy", when the construction foreman informs Arthur Dent that "the plans were on display".
I've been trying to get documents and records -- including the governing documents, rules and regulations, etc., from my H.O.A. for several years. In response, they decided to stop accepting my H.O.A. dues payments so they could turn around and sue me for not paying them.
See my web site, madisonhillhoa.com [madisonhillhoa.com] , for details (it hasn't been updated because I've been busy with the court case). You can also get a free copy of my book in PDF form from that site, at madisonhillhoa.com/book [madisonhillhoa.com]
Re:Conform or be expelled (Score:4, Insightful)
I agree with AC. By sending the money directly to a board member you may be exposing them to risk (losing the money, misusing it etc). You are playing the passive aggressive approach and then getting upset that they are fining you. You are causing the fight.
I am in Australia and HOA are totally unknown to me. The closest is the agreements that unit (condo) owners have to abide by and i have heard of similar petty issues. One was where the association would not agree to having cable TV laid throughout the condo building so most owners had to install satellite instead. That happened simply because some older owners did not want cable themselves so would not allow the buildings funds to used to install it. Even though it would add value to the building, even if they don't use it themselves. Sometimes people just look for something to fight about.
Re:Conform or be expelled (Score:5, Insightful)
This is not exactly true. Many HOA's "make it up as they go" and you find out later you are in violation of somebody's made up rule.
Mine, for instance, sent me a warning letter giving me 15 days to remove an "above ground pool" from my back yard (that had been there 4 years previously) but nowhere is "above ground pool" or anything approaching that even mentioned in the deed restrictions. I know, I read though the 30 pages three times looking for it. I even called the property management company and asked them where it was and THEY couldn't find it. Turns out, it was in ANOTHER document, one that I was not aware existed and one that the HOA board had authored well after the deed restrictions where filed on my home, without my knowledge or consent.
So, what you say is NOT always true. They often do change the rules AFTER the fact and Realtors often gloss over the HOA's authority except to tell you if there are any dues. Usually there is the "transfer paperwork" that is supposed to give you all the details, or at least warn you that there are details you should be warned about, but that is presented to the buyer at closing to sign in a 3 inch stack of paper with hundreds of "initial here" and "Sign here" stickers and who has time to actually understand all that mess? Besides, the REAL details of the HOA are in the deed restrictions and in the 5+ closings in two separate states I've attended in my lifetime I've NEVER seen them in the stack of paperwork.
Personally, I think HOA's are an OK idea that has been made into a really bad one by the builders who use them. My primary problem with them is that they NEVER ever end. It doesn't matter what happens to my current house, in 100 years the HOA will STILL be there. Something tells me that in 100 years, circumstances are likely to change and the HOA will be a legal problem with no good solution.
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but that is presented to the buyer at closing to sign in a 3 inch stack of paper with hundreds of "initial here" and "Sign here" stickers and who has time to actually understand all that mess?
The most expensive and important purchase in your life ... and you sign your name without bothering to read it? Seriously?
Dumbass, thats your own fault.
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If you read the fine print on everything you do every day, you would have about 6 hours a year left to work, sleep, eat, and go on vacation. Secondly, the stuff is such a convoluted mish mash of boilerplate from different sources, an attorney spending a week on the documents would likely only be able to tell you what it means in terms of probabilities (section XI.3.a probably means ______, but it could also mean _____ when read in conjunction with 4.e, etc. etc.).
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Now, in my experience they also don't notify you of pending changes, so it's still pretty shady. Once while I was biking through my neighborhood on a route I don't usually take, I happened to go by the elementary school. There was a small sign next to the driveway where people drop off
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It's really not the realtor's function to make sure you understand what you're buying.
Really - then what is their job? Just to show you around the house, and take 5% of cream off the top?
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HOAs are kind of like unions. Yes you know about them up front, but you can't do anything to opt out, except buy elsewhere. If an HOA is completely opt-in, then I'm okay with it. More and more, though, HOAs are thinly disguised vehicles for keeping property prices artificially inflated. I'm kind of surprised they have the power to force a home buyer to become a part of it (except in the case of a condo complex perhaps, or an area where the grounds are kept by a third party).
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Re:Conform or be expelled (Score:4, Funny)
The HOA are a way to have European like snobbery, without complicated birthrights.
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You can, if you buy private land. If you buy in an HOA, you cannot.
This works exactly the same way in Europe: you can buy private land, and there are a variety of restrictions, easements, and rules depending on wher
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This works exactly the same way in Europe: you can buy private land, and there are a variety of restrictions, easements, and rules depending on where you buy.
Yet all the regulations where I live are municipal, and the people responsible for them are elected town officials. We don't have any paragovernmental commercial organizations here.
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Also, in many cases, the HOA bylaws are not made available to you until closing. By that time, going back on the deal could cause you to lose thousands of dollars in earnest money. The agents know that if you have access to the bylaws, it lowers your chance of wanting to buy in that subdivision as no one wants to have the largest investment in their life subject to the desires of some nosy neighbor who has no investm
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Your approval of the CC&Rs is a contingency that you need to remove. If you don't remove that contingency, it's no different than if the house fails inspection. It's in the seller's interest to get you the CC&Rs ASAP so that you remove that contingency ASAP.
Maybe you need to find a better a
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Also, in many cases, the HOA bylaws are not made available to you until closing.
That is bananas. Here in British Columbia you don't have HOAs, but when you buy a condo or townhouse you fall under the condo board's bylaws. It's perfectly reasonable to ask for them during the due diligence process (and in some cases they're publicly online for all to read, e.g. http://www.freesiavancouver.co... [freesiavancouver.com] ).
You may be asked to cover the cost of photocopying them, but that's it.
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A HOA is upfront about the fact that they don't want a TARDIS in your driveway? I doubt it.
My bylaws, for example, state that:
Only licensed vehicles with current registration and insurance can be left on the driveways, that they must not hang out onto the road, and all wheels must be on the driveway.
It also has specific exclusions disallowing the long term storage of trailers, boats, and RVs on the driveway (or front yard).
A tardis, while not mentioned specifically, is definitely against the rules, along wi
Re:Conform or be expelled (Score:4, Insightful)
A HOA is upfront about the fact that they don't want a TARDIS in your driveway? I doubt it.
This may be the reason why so few Doctor Who episodes are set in the States...
Re:Conform or be expelled (Score:4, Funny)
If you don't want to conform, don't buy a home there.
HOAs are completely up front about those things and if you don't read the bylaws before buying, you're a dumb motherfucker.
A compulsory regulation on your home that exists in nearly every neighborhood you could possibly buy in the town you live is in no way "Optional" In my opion HOA's should be illegal.
I would never sign an HOA, and when I buy a house that's usually a problem because there are very few houses in town that do not have them. On the bright side, they are not that hard to ruin should you so chose and not mind alienating your neighbors. There are always loopholes, and ways you can make your house so annoying they'll eventually relent and let you do what you want to do. For example, they cannot prevent the construction of an amateur radio tower unless it's unsafe. There are long and drawn out discussions out on the net about how to pull this off, so I'll not get into it. But if done correctly you have a giant geeky eysore up for under $1000
A fellow around here went to a lawyer and picked appart his HOA contract until he finally settled on blanketing his front yard with toilets. He put daisies in the bowl of each one and called them "Flower pots"
After hearing all that I almost wish I'd been stupid enough to sign one. I would thoroughly enjoy pranking them constantly.
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You are exactly why I like having an HOA, even when they don't work in my favor...
Get into an expensive enough neighborhood and your pranks won't go over very well, people with more money than you have can bankrupt you with lawyer costs.
Winning isn't required, just ruining you is...
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What? You can't go back in time? Well, then you don't have a TARDIS, you just have a POLICE BOX.
Re:Conform or be expelled (Score:4, Insightful)
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Because the HOA will have a vague rule along the lines of "nothing unsightly will be stored in any home's yard". This covers anything the current board members dislike and allows them to lord it over the other homeowners. HOAs are the modern equivalent of brown shirts.
Re:Conform or be expelled (Score:5, Funny)
Nobody has said it yet..... (Score:2)
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That's why you should check the CC&Rs before you buy something somewhere. If you don't like the restrictions, don't buy.
Remove the goddamn box (Score:5, Insightful)
Leaving a TV prop replica sitting in your driveway is douchey. Store it in the garage, or your storage shed, or the back yard, or a storage facility. Nobody in your neighborhood likes Doctor Who so much that they want to come home to your driveway TARDIS every day. Stop being a douche.
Re: Remove the goddamn box (Score:4, Funny)
using words like doucey is just as douchey and should be cause for instant expultion from any proper HOA.
Re:Remove the goddamn box (Score:5, Insightful)
No. No it isn't. It's fine. You Americans love your freedom of speech, but when it comes to living next door to a slightly more interesting house than the usual cookie-cutter bland beige boxes you get all hot under the collar and start using words like "douchey".
Which, of course, isn't a word.
Just get over it. HOAs *should* be illegal, and I wonder how far they'd get if tested in a court of actual law.
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Leaving a TV prop replica sitting in your driveway is douchey. Store it in the garage, or your storage shed, or the back yard, or a storage facility.
This thing looks big enough to be a problem for our local zoning board. Basically a full-sized shed or playhouse more less permanently installed on your front yard --- which is not a particularly good idea for any number of reasons.
live by the sword (Score:2, Insightful)
Die by the sword. If you dislike the rules, don't go live in an HOA. Zero sympathy.
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"These days it's hard to find a new construction home that isn't part of a neighborhood that has a HOA"
Municipal governments have been requiring H.O.A. corporations as a condition of granting building permits to housing developers.
That way, the home owner gets to pay the private H.O.A. corproation for traditional municipal functions like parks, street maintenance, trash removal, etc., while the government still gets to collect taxes for those goods and services they no longer have to provide.
The home owners
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It's a good thing Americans revolted over that whole taxation without representation thing and completely removed it from their country for all time, never to be reinstated.
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Now if some unforeseen event happens so that attacking NK would be warranted, you could probably add a couple more Asian countries to the list, plus Australia and the majority of the EU, to the coalition. Hmm, where have I heard that phrase before, "coalition forces"...
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If enough people were to infiltrate the HOA, could the HOA vote to disband itself? That might be a fun hobby...
Depends on your specific HOA covenants. They will dictate what course of action is necessary to do so. The most common I'm familiar with:
1) The builder actually maintains final authority over the HOA, so it couldn't possibly be disbanded unless the builder agreed (ie: not gonna happen)
2) If there is no builder with final authority (mostly that's older HOAs) then the board can decide to put disbandment up for a vote, in which case a certain percentage (either of all homeowners, or of actual voters) would hav
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Re:live by the sword (Score:4, Informative)
Don't buy a new home then. Resale homes are an excellent buy and often are in better shape than brand new homes which haven't had the proverbial bugs worked out yet.
Oh, he can buy a new home, he just shouldn't buy one from a Developer who is building in that fashion. Honestly, if you really must have a new home, it's usually better to take the time to actually have one built for you.
I've heard some people try to claim that HOA regulations are no different than zoning codes in a City. That's simply not true- there are far more legal protections for property owners under zoning ordinances than for "members" of a HOA. And a dirty little secret is a HOA is actually a type of Corporation, which can be sued, go bankrupt, and have other bad things happen... and when they do? Guess what, "your" property is part of the Assets and YOU are partially responsible as a 'member'.
Don't fall for the HOA bullshit. Many people get sucked in because the prices seem better (they're not, dues always go up and never go away). Some like it because it promises a legal method to a segregated community, as long as the other bigots are on board with you and don't put it in writing. Many just like the idea of being able to get a position of power and become a Mini-Dictator over the neighborhood. For most sane people, HOA's are something to be avoided at all costs.
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nonsense, it is possible to fight an HOA and win. all about tactics and psychology.
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Die by the sword. If you dislike the rules, don't go live in an HOA. Zero sympathy.
I'd agree with you if it was REQUIRED that prospective byers be notified of more than just the annual cost of the HOA's dues by the seller. Buyers should be presented with the deed restrictions that establish the HOA at the time they make their offer and have a customary length of time to read, get legal advice on and accept the restrictions and costs or be released from the contract to buy. I would also agree with you if HOA's could only enforce rules which are actually recorded each and every deed expli
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I'd agree with you if it was REQUIRED that prospective byers be notified of more than just the annual cost of the HOA's dues by the seller.
It has been where I've signed in. I've never been part of an HOA, but the condo rules for the two condos I've had both had the full covenants available at closing. If they aren't there, walk away.
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HOAs are there to maintain property values. If your backyard is in some way repulsive, and it can be seen from your neighbor's house, it can also be seen by anyone buying your neighbor's house. If you're in townhouse community, you've shit-canned the whole block.
The problem in many cases is that "repulsive" usually means that there are multiple violations, but all of the regulations need to be enforced consistently and so you get sometimes get dinged by some petty neighbor.
Consider yourself lucky. Your n
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I live in a home with an HOA, and part of the reason why is that the HOA covers lawn work, exterior maintenance on the house, and snow removal. I could by an ordinary single family home and arrange to have all of that done, but I like letting the HOA take care of it. And just like you, I am on the board of the association because nobody else wants to be, and the same few suckers keep volunteering to keep the lights on.
No doubt some boards can be total asshats, and even worse, the nice laid back association
It kinda looks just dumped there (Score:3)
Looking at the photos it kinda looks like it is just left on the driveway. But that said I don't like the idea of being told that I have to remove it.
Would they have more luck if they placed it on a plinth and maybe had it decorated in with a cyberman?
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House needs a few statues now . . . (Score:5, Funny)
Re:House needs a few statues now . . . (Score:5, Funny)
That's not a threat, even if it is believed that they are ruthless killer aliens as the constant net curtain twitching that happens by the local busybodies will ensure the angels remain phase locked and can't hurt anybody...
It's about time (Score:3)
bada boom
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Speaking of "About Time", I recommend the movie of that name. It was a bit sad, but I felt worth the ride. Haunting musical score, too.
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Speaking of "About Time", I recommend the movie of that name. It was a bit sad, but I felt worth the ride. Haunting musical score, too.
I recommend the 1960s TV comedy series by that name ("It's About Time").
Oooo! Oooo!
https://www.youtube.com/watch?... [youtube.com]
Strat
Silly story (Score:4, Interesting)
HOA rules: You can't have $(object X) sitting in your driveway.
$(object X) being a TARDIS neither makes me outraged, nor makes this news for nerds.
Re: Silly story (Score:2)
and now you are just being silly.
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HOA rules: You can't have $(object X) sitting in your driveway.
$(object X) being a TARDIS neither makes me outraged, nor makes this news for nerds.
It amazes me, that in the self-appointed "land of the free" one in his private property has to follow some oddball rules about what is allowed and what is not allowed. Oddball rules that are not readily available to read, and not written by some democratically elected body. Besides I don't like nosy people watching what I'm doing in my home: i always wonders why in the US the houses don't have walls and fences...
As A Corporation, An H.O.A. Is A Defective Product (Score:2, Informative)
As a corporation, an H.O.A. is a defective product.
The purpose of a corporation is to protect an investor's personal assets from the debts and liabilities of the corporation.
For example, if you owned 1,000 shares of Enron, the only thing you had at risk were those shares. The creditors of Enron could not go after your house, your car, your bank account, etc.
But an H.O.A. corporation works exactly the opposite. The assets of an H.O.A. corporation are the obligations of the home owners to pay the uninsured
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What is... "This story"? (Score:2)
I'll take "Reasons why I'll never live in a house governed by an HOA", for $1000, Alex?
If I can pay for a house (Score:2)
If I can pay for a house I would summarily refuse to be a member of a homeowners association. At the time of buying, I'd check and make sure there's no Home owner's association or if there was make sure the contract said I was somehow exempt or just not a member of the association and not subjects to its bylaws. Possibly having police or attorney presence.
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Actually, you most likely are not exempt. Most HOA's are a deed restriction on the property and it is explicitly worded in such a way that it carries over to all subsequent owners automatically by virtue of you accepting title to the property. It works in the same manner as being a part of your city or township. When you close on the house, you don't sign anything which states you agree you are subject to the ordinances of your city or township, but that doesn't mean you are exempt from those ordinances. Th
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Can they give it to Disney? (Score:2)
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My understanding is that (under "normal" real estate conditions which we haven't seen for a while now), the break-even point between renting and buying is supposed to be after about 5 years. At that point, you should have made enough money back in tax deductions (it's nearly impossible to beat the standard deduction without a couple $10k in mortgage interest deductions) and appreciation to cover the closing costs, property taxes, etc. vs. renting a place for a similar monthly payment for 5 years.
After tha
Re: (Score:2)
Home ownership baffles me. Besides the fact that you own nothing, it's far more expensive than renting and much riskier.
But my name is on the title and if I sold it I'd have quite a large wad of cash (around $100k) left over after the loan balance was paid.
Not bad for only putting $25K down and paying what you would for the same floor space, maybe less. In another 10 years, all I will be paying is taxes and insurance while you still will be paying rent.
Oh, and one more thing... Remember that your rent really is paying somebody's mortgage anyway. The standing rule of thumb is that rent is 1% of a home's value (Single fami
Re: (Score:2)
Home ownership baffles me. Besides the fact that you own nothing, it's far more expensive than renting and much riskier.
You own your house more than you own your TV. And it's more expensive and riskier, despite appreciating better than inflation for every time period greater than the average home ownership since records began. My house bought 3 years ago appreciated more in that time than the average person makes in 10 years. The "risk" is in *not* buying.
Re:Good for the HOA. (Score:4, Insightful)
I once had a next door neighor that had 4 cars on blocks in his driveway.
A) This guy is cooler than any neighbor I've ever had in an HOA
B) This guy's car collection did not devalue my home one bit or make it harder for me to sell it (location baby).
HOAs are just an affront to your personal liberties and a money pit. Their enforced conformity preserves nothing and gives you nothing (except some light fascism).
They don't even enforce the useful (safety) rules.
Re: (Score:2, Interesting)
> I would be pissed if some douche had this in his front yard, just like I'd be pissed if you had trash in your yard
> or broken down cars in front of your house. My home is an investment and I don't want you dragging that investment down,
> because you're a piece of shit. If you want that, put it in your back yard.
MY investment carries no obligation in regards to your investment and/or property! You got, what you paid for, extending exactly to the borders of your property.
With other words, shove yo