Thursday, May 15, 2014
IT ONLY TAKES 51% OF MEMBERSHIP VOTE TO DISSOLVE SCCA
DEED RESTRICTED PROPERTIES ARE THE MOST INFERIOR TITLES OF ALL OWNERSHIP
Fifty + years of experience with thousands of home owners associations across the nation have taught lenders that the most inferior of all property titles are those with titles with "deed restrictions'. Lenders have quickly learned that the appreciation or depreciation of value in an HOA is directly attached to the capricious whim of HOA Boards and their CC&R's. Incompetent HOA Boards can as readily depreciate the value of property as they arbitrarily demean member's quality of life as a result of over zealous enforcement of CC&R's.
Though it is not always possible in many deed restricted properties to dissolve an association because of its type of physical structure--such as condominiums where all that is really owned is air space or a particular gated community. These factors do not exist in the SCCA Core. It is neither an air space only HOA nor a gated community. It is a corporation owned by the members. As a corporation run and owned by the titleholders its members have the right to vote to dissolve it. Then have all the common properties owned by SCCA--the Campus, Corbett Park and others appraised and sold. The net proceeds of the sale be equally distributed among the 4762 members. What if the combined total of common properties were appraised for twelve million ($12,000, 000) and sold for ten million? Supposing that netted to $9,000,000. $9,000,000 divided by 4762 members = $1889.96. Who wouldn't want to receive a check like that instead of a $500 fine because the palm fronds weren't cut in time? THESE ARE ONLY GUESTIMATE NUMBERS. THE PROPETIES COULD APPRAISE MUCH HIGHER THE NET PROFITS MIGHT BE HIGHER, TOO.
Deed restricted properties deprive home owners of obtaining the highest market value and quality of life. If you want to enjoy true market value of your property, live without invasive codes enforcement, stop attending endless, useless meetings, update your property without limiting CC&R’s and enjoy remuneration from selling off SCCA “Campus”, then start organizing to get 51% of the membership vote to dissolve SCCA. In a non-deed restricted community, you would no LONGER be in jeopardy of losing your property via non judicial foreclosure nor in constant conflict with SCCA board over fines and trivial CC&R’s. Menifee city governorship is all that is necessary.
DISSOLVE SCCA! ONLY 51% OF MEMBERSHIP VOTE TO DO SO!