Monday, January 29, 2007

Hayden Ferry HOA

Hayden Ferry (Edgewater, Bridgeview, etc...) just raised their HOA to about 55 cents per square foot. I don't understand this. Crystal Point, with only 63 units has fees of approximately 38 cents per square foot. Why does a larger community (currently about 60 but soon to have another 100 and ultimately a total of almost 400) with fewer amenities than Crystal Point, that also has the added benefit of sharing a portion of their common area with surrounding commercial buildings, need to charge so much? I represented several buyers at Hayden Ferry last year and at the time I was very confident that management would be able to keep the HOA down under 40 cents a foot. Ideas???