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Market Court Going Under Wraps: Proof of Solid HOA

September 12, 2008 by  
Filed under Market Court

Before anyone else puts a negative spin on Market Court for going under wraps, we wanted to be the first to applaud their HOA for the way they have decided to handle their upcoming maintenance.  The reputable building will soon be receiving new windows and siding due to substandard repairs made nearly a decade ago.  Rather than playing the defensive role and acting like victims, the building’s modern day homeowners are standing together to take an offensive stand on how to make the community better.

There’s no doubt that the new improvements will be costly, however the actions taken should maintain a steady value since there will be no litigation.  In addition, the HOA will be making improvements to the roof, although there’s been no report on any defects.

So, what can future buyers learn from this?  Making an investment in a downtown condo is not just about the price, view, year built, etc..  When consulting with buyers, endorsing a new condo purchase the buyer must consider neighborhood trends, zoning (especially downtown), building reputation, and in many other cases, a well ran homeowner association.

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