RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Over 65 Million Americans Live in Homeowner, Community Associations

May 4, 2015 2:21 am

According to a recent review by the Community Association Institute (CAI), an estimated 66.7 million Americans live in common-interest communities, including homeowners associations, condominium communities and cooperatives. Between 1970 and 2014, the number of community associations has swelled from 10,000 to 333,600, the CAI reports.

Homeowners associations account for 51 to 55 percent of the 333,600 associations, with condominiums representing 42 to 45 percent and cooperatives 3 to 4 percent. States with the most associations are Florida (47,100), California (43,300), Texas (19,400) and Illinois (18,150).

"Community associations are an increasingly vital segment of the U.S. housing market—and are increasingly desired by smart homebuyers," says CAI Chief Executive Officer Thomas M. Skiba, CAE. "Not only do they provide options, alternatives, facilities and amenities that most Americans could not otherwise enjoy, they protect property values by preserving the nature and character of the communities."

The estimated value of homes in associations is $4.95 trillion. Associations collect an estimated $70 billion in assessments from their homeowners. Assessments fund association services, such as professional management, utilities and maintenance, and a wide variety of amenities, including pools, club houses and social events. About $22 billion of assessment dollars are contributed to association reserve funds for the repair, replacement and enhancement of common property.

An estimated 30 to 40 percent of associations are self-managed, meaning they do not employ a community manager or management company.

An estimated 2.3 million Americans serve on community association boards and committees at any one time. They perform an estimated 78 million hours of service annually; the value of their volunteer time is estimated at $1.6 billion.

Source: CAI

Published with permission from RISMedia.


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Buyers Place Higher Value on Fire-Protected Homes

May 4, 2015 2:21 am

Homeowners are more likely to buy a home – and assign it more value – if it’s protected by fire sprinklers, according to a recent Harris Poll survey. Nearly eight in 10 respondents said fire sprinklers provide the ultimate protection for residents.

"It's certainly encouraging to see that 59 percent of homeowners say fire safety is very important to them and that the majority would rather buy a sprinklered home," says Home Fire Safety Coalition (HFSC) President Lorraine Carli. "But we are also reminded of how much awareness work there still is to do. For example, just half the homeowners recognize the increased fire hazards associated with lightweight residential construction to residents and firefighters, and only about a third understand how open design increases the danger of a home fire."

The common myth that all the fire sprinklers spray water at once when a fire breaks out remains a roadblock to homeowner interest. While homeowners often receive information about home safety features from their builder, 93 percent of them said that firefighters are a more trustworthy source for fire safety. Nearly half say they have more confidence in homebuilders who offer sprinklers than those who do not.

Source: HFSC

Published with permission from RISMedia.


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