Comments on: Capital Fee, Why you should vote NO

By: Very Concerned

Very Concerned — Mon, 23 Jun 2008 13:22:29 +0000

Yesterday, I met a couple who built a new home this year in North Georgia (not Big Canoe). Their first choice was Big Canoe, until they were told of the monthly fees. They were shocked to hear of the new proposed fees. It is clear that the POA Board is destroying Big Canoe’s property values.

By: Alley_Cat

Alley_Cat — Mon, 23 Jun 2008 02:25:39 +0000

Bert, I can’t imagine the frustrations of being a realtor at this time. You were probably fortunate enough to have the foresight to save some nuts for a “lean winter”. I just hope these poor kids with families selling real estate have done the same…they’re kids who probably haven’t seen this.

If it were only as easy to blame the differences of opinion on the lack of interest. Instead it is probably more likely the macro economy, the overall real estate bubble burst and high energy costs that bode poorly for rural communities as ours.

The continued destruction of wealth will mean that the second home market dries up even more significantly. The rentals market up here is in a major downturn according to numerous friends who own rentals here. I just heard yesterday of a fella going belly up who owns 7 properties here all going into foreclosure. The downturn extends for several years complicated by the fact at some point soon the Fed will have to raise interest rates to combat the inflation we see everyday.

The pure folly would be to act before the dust settles on the recent improvements. I keep asking myself WHY would the board be so insistent to ram this through…do they know something that they don’t want to share with the rest of us??? I don’t know but this doesn’t make sense in my gut.

Best of luck to you Bert!!

By: Leaving

Leaving — Sat, 07 Jun 2008 13:41:13 +0000

“if this differences of opinions grows any larger in public awareness, the drop in outside interest in building in Big Canoe will grow to disastrous proportions.”

Welcome to the world-wide-web. Do you suggest that we hide our financial problems behind the closed gates of Big Canoe?

There is a disclosure problem here. All Big Canoe realtors should be telling new Big Canoe homebuyers of the ins and outs of this new “adjustable-rate” Capital Fee. Realtors can’t hide it from the outside world.

By: Bert Hamrick

Bert Hamrick — Sat, 07 Jun 2008 11:14:25 +0000

The Capital Initiation Fee is the most effective way to establish a separate acountable fund for future capital facilities needs.
To add to the existing PIOA monthly assessment is pure folly and will drive buyers and existing owners out leaving a plethora of vacant, unoccupied, properties that contribute no revenue to operate.
Further if this differences of opinions grows any larger in public awareness, the drop in outside interest in buing in Big Canoe will grow to disaterous proportions.