From the Smoke Signals - Online:
“Special guest Jan Landry, finance and communications manager for the Wild Dunes development near Charleston, S.C., spoke for 10 minutes about her experience in introducing a similar capital reserve fee in Wild Dunes in January 2002.
The measure passed with an 89 percent “yes” vote, and response has been almost uniformly positive, Landry said.”
Wild Dunes Internet research:
The Wild Dunes HOA transfer fee is ½% of the purchase price. (Note that Big Canoe is proposing a 1% fee).
There are currently 118 (MLS) homes for sale at Wild Dunes. About 80+% of those homes are for sale at a price greater than $1,000,000.
$5,999,000 - $5,300,000 2 homes for sale
$4,200,000 - $3,500,000 6 homes for sale
$3,499,000 - $3,150,000 6 homes for sale
$2,999,000 - $2,500,000 15 homes for sale
$2,495,000 - $2,000,000 12 homes for sale
$1,949,000 - $1,000,000 53 homes for sale
Yes, Ms. Landry is most likely right, I’m sure that these multi-million dollar homeowners don’t mind paying ½% extra upon the resale of their houses.
Do you think that they would mind paying twice that much, or the 1% fee our POA Board is proposing?
1 user commented in " The “Similar Capital Reserve Fee” presentation given at the Town Hall Meeting. "
Follow-up comment rss or Leave a TrackbackAt the Town Hall meeting I heard the finance committee make a recommendation to the Board. The Board has not made any recommendation to the property owners. They will not do that until June after hearing the feedback.