” If you work hard on your job, you could make a living. If you work hard on yourself, you could make a fortune. Your income is primarily determined by your philosophy, not the economy. Success is something you attract by becoming an attractive perso…

Why?

Because of STUPID architectural design that is absolutely NOT suited for a wet climate like we have here.

On buildings with absolutely no roof overhang, 100% of the walls get wet during rainy weather (especially true of two-story and taller structures). This water runs down and sits on every window sill, ledge, siding joint, protrusion, and opening on the surface of the wall. If each and every one of these locations is not perfectly sealed, the water gets inside the walls and the building starts rotting from the outside-in, or inside-out (and let’s not even mention the ‘M’ word).

In a poorly-built wood-framed building (typical of many apartments and condos) that is always growing and shrinking due to changes in humidity, it is very difficult to keep everything sealed, especially when contractors use 99 cent/tube caulk that may actually seal for only the first year or two.

And then there is the so-called ’stucco’ that they love to use on mulitple-unit buildings around here that isn’t suited for our climate either. I have seen numerous buildings of this type require a complete re-skin, at considerable expense to the building owner(s).

Buyer beware. You need to clearly understand the quality of construction and climate suitability of any multiple-unit building that you are buying into. Ignorance may cost you dearly at a later date.

One of the bonuses of my 1970s rambler is that it has generous eaves which keep virtually all of the walls dry during a rainstorm, unless it is really windy. So even if I have gaps in my siding (I do – it’s vertical cedar), I don’t have to get all stressed out about it. Look at the design of your own structure and see if it makes sense for the location and climate.

Not so. A siding job should be a one time special assessment, not a dues increase in a condo complex.

The dues have nothing to do with “work” specifically”, simply lots and lots of operating costs for such a large place as well as a need to keep high reserves.

If you look at a reserve study, you will see that one of the major needs for reserves are elevators. Sixty-01 has lots of townhomes, but they also have 8 midrise buildings with elevators. It may look like they have a lot of reserves when they are over a million in reserves, but when you look at the reserve study and the cost of replacement for such a large complex, the amount is not necessarily sufficient simply because it is large.

Improvements do not cause dues to go up if the reserves are maintained properly. Improvements should have nothing to do with monthly dues jumping up and down…if the HOA knows how to structure things properly.

WA does not have as many safeguards in effect as CA in that regard, unfortunately.

I saw on project last year with high dues and not immaculate upkeep. Not a good combination.

There is a lot of area to maintain, so the dues really can’t be lower. 8 elevator buildings, 10 acres and lakes and fountains and a huge clubhouse, etc…

I think the dues are appropriate for what they have to maintain. I saw some newer roofs, great quality. Not all done yet, but the ones that are looked fabulous.

The value issue had to do with no loose financing there for a long time. While everyone was getting 100% financing making prices jump, 60-01 could not be bought with zero down. That held it back for a long time. They are over double in value since that situation changed, but still relatively low compared to the rest of the area.

With over 700 units, there’s always something that needs fixing. But that’s normal. I’d rather see a complex fixing all the time instead of keeping dues low and buildng up deferred maintenance.

Still you have to be careful about price and choosing the best value. Often a substandard unit will try to get the same price as the better one that just sold. So you have to stay on your toes.