Yes, you’re right. They should do that. And then the HOA can show how each one of them voted when the budget was being discussed and when the HOA board was being elected. Some people think low charges are a great thing even when they can see the complex deteriorating
You don't understand how HOAs work here. Every condo unit owner is responsible for participating in the maintenance of the building. An HOA is a nonprofit corporation whose officers are unpaid homeowner volunteers. Unless it can be proved the HOA board illegally mismanaged funds, there is no class action lawsuit. Incompetence isn't illegal. More owners should have regularly attended meetings to oversee board actions.
If they voted against an assessment for a repair- the lawsuit is void. Maintenance is maintenance: grass cutting, trash pool… capital improvements needed extra money and many residents voted against. Also the HOA are residents and condo owners.
People are treating condos and apts like cars- they just keep living in them without doing the proper routine maintenance that is needed to keep it running strong. Your car can only go so long without an oil change before the engine seizes.
The same for apartments and town houses. Many times you cannot do the repairs unless the building is empty. In the case of some apartments and condos some people stay for decades and that means adequate repairs cannot be made for decades
Call they going to do is sell the place to some rich developer and make a ton of profit while the residents has been supporting the place for years or homeless. Classic
Yes that’s exactly what I believe is happening here watch in a few months they will be newly done and the rents will be no less then 3,000 for a 1 bedroom.
They will demolish it n build a bigger better one with high rent. Too late to rehab serious structural damage. Land will be sold after demolished then build new fancy high rent.
@@126missday The insides aren’t the issue here the outside are structurally deficient. So if they want to do all of the proper repairs and we have the units then yeah they can rent them out again.
Exactly. People wouldn’t move out so let the building fall into despair force them all out. Fix the building and raise the price for the new set of residents.
Condo board members are elected by unit owners. They can be voted out or even recalled if they fail to do their fiduciary duty. Clearly the unit owners weren't paying attention.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Jessica Lee Horst" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Probably because the ONE person in the section said NO! My grandfather’s air conditioner falls under the upstairs neighbor and she had NEVER allowed maintenance to work on any of the air conditioners! These idiots don’t read what they enforce! It screws over everyone!
Sadly, this is what happens when there is zero oversight. Repairs and increased HOA costs should have started decades ago, but when no one is held accountable…
These are NOT homeowners. They are renters.That should be made clear. Each condo unit is individually owned and was rented out by landlords and there are hundreds of landlords in that complex.
Wow! That never crossed my mind. But how does that change the equation?? Are you saying that each "Landlord" would be responsible for upkeep of their respective units?? Or is there a Super Landlord responsible for everything?? I'm not sure how that works.
It’s a condo and each unit pays for strata fees HOA, but I don’t think they had paid enough into the contingency fund and didn’t do any repairs over the years.
Hard lesson for Florida to learn. A need for checks and balances in the construction companies. Building in sub tropical areas need special attention to building materials and maintenance schedules
@@HughJass-jv2lt The condo owners failed to maintain their own property. Fix a problem when it happens or before it happens, not 10 years down the road
@@UncleDavesKitchen Have you *NEVER* lived in a Condo? "MAINTAINING" the community is the Responsibility of the *H.O.A.* That is one of the primary REASONS a person decides to live in a condo; Some other Party maintains the Development. They want more space/freedom compared to a Renter... But LESS Responsibility compared to a traditional Homeowner. Have a Nice day 🍋🍋
@@UncleDavesKitchen Regarding the original comment; He was trying to put the BLAME on the "builder/developer". Which is absurd. This is clearly a Case Study of *NEGLECT.* Granted, you say it's the fault of the "condo owners"... I say it's the fault of the H.O.A. To be fair... it may be a Distinction without a Difference. But I think both of us Agree... this is Not the Fault of the original Builder ☀️☀️
This has nothing to do with the new Florida SB-4 legislation DeSantis signed into law requiring structural building inspection. SB-4 only applies to Condominium Owners Associations (COA) communities that are 3 stories or greater and 25 or 30 yo. These buildings look like they are only 2-stories. The new law does not apply to HOA’s.
If you are paying the mortgage and get evicted due to the HOA/COA negligence. They should have to take over the mortgage until it's livable again. Never will i ever buy a condo.
i think they could use better materials that don't degrade so fast possibly Hemp or Hempcrete it is 10 times stronger than steel. and if they made cars with it there would not be as much hail damage if any. Ford made the Model T from Hemp it ran on Hemp fuel he hit it with a sledge hammer and it did not dent the car so i have heard. So ok its a strong material and so why are we not using that instead?
You should see all of the dilapidated rentals in the city of Houston, everywhere snd it affects hundreds of tenants all over the city ,rats snd mold and monster cockroaches from hell, all corners of the city ,garbage poled up, sewer lines seeping out into the parking lots, third world city ,znd nobody cares@😮
@@joechen353 I've been around and seen some of these cheap crap condos in Florida built and always knew none of them would last. They are made out of wood with a cheap facade ina salty environment with natural ground water that rests above ground prior it being drained to build homes. Regardless the ground in the majority of Florida where homes are now on is always wet ground. And some areas have high water tables only a few feet below ground. This destroys these homes quickly. Just a money grab and bag holding opportunity to loot unsuspecting northerners
Don’t buy a condo anywhere at anytime! My grandfather lives in one in Ohio, the upstairs neighbor essentially OWNES the air conditioners because of the law and how the condos were built (no one thought ahead)! When that condo owner says NO to someone coming in to repair, THEY CAN’T DO SH!T!! Condos are a SCAM, especially for the elderly!!
Every HOA should have a newsletter sent to all the residents on a monthly basis. Among other info would be a breakdown, or itemized list, of how fees are spent. Any discrepancies would appear & be accountable. This should be mandatory for ALL HOAs. 🙏❤😊
😡😡?????????? WHAT WERE THEY DOING? ROBBING EVERYBODY!! THE USUAL FRAUD HERE IN MIAMI THEY ALL BECOME CHUMMY-CHUMMY FRIENDS AMONG THEMSELVES AND STEAL EVERYBODY'S MONEY DON'T DO ANYTHING FOR THE BUILDING BUT CUT GRASS AND SLAP A NEW PAINT JOB OVER MILDEW😡
They're not going to repair these buildings but knock them down. The owners are counting on people not paying their assessment fees. The land will then be purchased by the developer at a hefty price, making the landlords millions.
Never ever buy a condo. I'm a former realtor. Want to be a homeowner? Educate yourself on what it takes to buy and maintain a house and then buy one. FYI, even with fixed rate mortgages, monthly payments go up due to insurance and property taxes increasing.
It's insane. We have never owned a home. Fail to pay 1 penny in your property taxes, guess what happens? Boom The privately owned Federal Reserves and it's sicario partner, the IRS, will come and take your fully paid house. Life is beautiful
Condo owners are a collective of owners of the property. Moving out is leaving their responsibilities to another. These are lessons they deserve to be responsible to know. Neglecting your responsibilities will cost you. They should have kept up the maintenance of their property.
This is a long time coming, the residents knew they were eventually going to leave why wait till the last minute? So what happened when they are property owners? Will they lose all the investments in the property, still owe on the mortgage?? The call them apartments then say there are owners, too.
Condominiums are NOT HOA's!!! Condominium associations are governed by different laws in Florida because they are vastly different from homeowner associations. Referring to condominium associations as HOA's is the first clue that people don't know what they're talking about.
This is a classic case of deferred maintenance over the years. People (owners) who never wanted their condo fees increased to fund reserves as a lot of the arguments made is that they won't be there in 20 years so why pay. It is a shame they are in this situations. I've been on boards in Miami beach where most owners were investors who did not want to pay reserve as they made more money the less they paid. I just sold and left. Now owners are blaming the HOA but in reality they are the culprit.
Yep. I viewed these condos 10 years ago & they were unfit then & now to live. No one mentioned the condition of the lake behind them, not a pretty sight.
I've lived in South Florida for several decades now. Thwy weren't always liek this. When no one is held accountable for overseeing HOA funds and ensuring repairs are done but the residents are responsible for continuing to pay HOA fees, this will happen.
🙄I’m retiring soon but I’m glad that real estate is going through a madness phase. Once the dust settles settle I can make an informed decision. ☹️🤔sad what those folks are going through.
It's insane. We have never owned a home. Fail to pay 1 penny in your property taxes, guess what happens? Boom The privately owned Federal Reserves and it's sicario partner, the IRS, will come and take your fully paid house. Life is beautiful
Karma has came in a full circle because most of these people are the same people who have snubbed the true “ FBA” out of any existing chance to be able to own a home or condo for years….
What about her mortgage, seems like a plan all along and Blackrock will swoop in and buy the property when everyone is in foreclosure because paying rent and a mortgage.
So if Charlie Crist would have been the governor would this have been his fault? If you bother to research the history on corrupt HOAs this goes back over 20 years.
For decades condo associations couldn’t get owners to vote for money to do inspections and repairs. For decades no one wanted to pay….now the bill is really coming due. The new law in Florida has been the law for decades every where else. Cheap condo fees for decades means the building will fall down from lack of maintenance. Like a statewide game of hot potato…sell before the collapse….leave the next buyer with the bag. Someone was going to get stuck…now we see it.
Is a rather odd thing to treat Florida real estate as having so awesome a value. So much of the Florida population is transient/transitory with even be worse so many owners of property living out of State so this is a policy issue that is very much in need of a State of Florida response as the worst possible outcome is suddenly *"everyone loses/no one wins"* in what is of course a massive down market...hardly the only one in the USA with this problem but yes *"this problem."* The *GREAT* news is that new builds are being had and this includes for actual Homes as well. I still look at a Home in Florida for $40,000 US Dollars as about right actually so some possibly an enormity might need to understand that once you start building on a property you're actually driving the value of that property *DOWN* not up. Yes once the appropriate public services become available that can change. That doesn't mean this will happen tho. "Build something there and suddenly everything becomes worthless" is pretty normative in US History actually. I was just reading up on Newburgh, New York of Orange County Choppers fame...once ine of the most beautiful places outside of New York City then completely crashed and burned...now seeing a dramatic revival tho on account of people having a passion for, well...living somewhere that truly is beautiful actually. Hopefully the next chapter in all of this is that! This much supply of housing in all of the USA and no one living in any of this is not new to me as a New Yorker anyways😊
@@petermike22 we are keeping the war there so it doesn't come here. We are paying to keep it THERE. We are doing it for our own interest. We aren't doing anyone any favors.
You now worried about Ukraine, you wasn't worried about the massive increase trump gave to the military industrial complex? its all the same, and when he gets elected that budget will increase.
Very odd situation. So 15 buildings were condemned when you were planning to move in two months ago and you (lady with pony tail and grey t-shirt) didn't think there was concern but still moved in? Anywhere near the water is an issue; and the majority of problems for same complex for many years. Seems also, notices from last year that buildings will be condemned, so people actually did have time to move and get their deposits back from the "condo". Where are the HOA fees to keep that place maintained? Hope they all found somewhere else to reside.
The condo owners in all of these situations should start class action lawsuits against the HOAs for failure to to maintain the building.
These HOA ain't loyal... They really don't care tbh
So they will have to sue themselves 😅
Yes, you’re right. They should do that. And then the HOA can show how each one of them voted when the budget was being discussed and when the HOA board was being elected.
Some people think low charges are a great thing even when they can see the complex deteriorating
You don't understand how HOAs work here. Every condo unit owner is responsible for participating in the maintenance of the building. An HOA is a nonprofit corporation whose officers are unpaid homeowner volunteers. Unless it can be proved the HOA board illegally mismanaged funds, there is no class action lawsuit. Incompetence isn't illegal. More owners should have regularly attended meetings to oversee board actions.
If they voted against an assessment for a repair- the lawsuit is void. Maintenance is maintenance: grass cutting, trash pool… capital improvements needed extra money and many residents voted against. Also the HOA are residents and condo owners.
People are treating condos and apts like cars- they just keep living in them without doing the proper routine maintenance that is needed to keep it running strong. Your car can only go so long without an oil change before the engine seizes.
These were built wrong for the environment
The same for apartments and town houses. Many times you cannot do the repairs unless the building is empty. In the case of some apartments and condos some people stay for decades and that means adequate repairs cannot be made for decades
Yes!
I would like to know what the hoa fees are for if not for upkeep and repairs. Someone needs to go to jail.
It's the management company and the condos president's fault.
Call they going to do is sell the place to some rich developer and make a ton of profit while the residents has been supporting the place for years or homeless. Classic
it's going to be a mess fixing all this, have to tear it down to get to the infrastructure.
Those poor people. My prayers are with them.
They know they can get more for those units so they push everyone out, renovate and charge $3,000 for rent
Yes that’s exactly what I believe is happening here watch in a few months they will be newly done and the rents will be no less then 3,000 for a 1 bedroom.
They will demolish it n build a bigger better one with high rent. Too late to rehab serious structural damage. Land will be sold after demolished then build new fancy high rent.
Why did you explain to me how you rent out for $2500 an apartment that has no certificate of occupancy.
@@126missday
The insides aren’t the issue here the outside are structurally deficient. So if they want to do all of the proper repairs and we have the units then yeah they can rent them out again.
Exactly. People wouldn’t move out so let the building fall into despair force them all out. Fix the building and raise the price for the new set of residents.
Who the hell was on the condo board to let it go so long without upkeep. I bet they are doing just fine. Shamefull
Condo board members are elected by unit owners. They can be voted out or even recalled if they fail to do their fiduciary duty. Clearly the unit owners weren't paying attention.
The board (aka the people)! HOA’s should be illegal!
the board members live in the condos too
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Jessica Lee Horst" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
People dont get how serious the florida real estate market crash is going to be.
Go woke- go broke.
I don’t think people get how hard the US crash is gonna be.
Perfect timing for me to get a few cribs
@@Rolling2MuchBlackrock will beat you to the punch.
There will be no crash.
Well, as a former homeless military veteran, it's better to be alive and homeless than dead and crushed because a building collapsed and killed you.
God bless you! Thank you for your service and I hope you are in a good living situation now.
@@bonniebriggs3880 Thank you. By the grace of God and no assistance from the government, I'm blessed beyond what I deserve.
Looks like 0 maintenance or repairs have been done.
I wonder if they downvoted every assessment for repairs for decades.
@@zoemayne the problem all started at construction with the wood. It's was guaranteed to fail and no one canl fix this issue.
Probably because the ONE person in the section said NO! My grandfather’s air conditioner falls under the upstairs neighbor and she had NEVER allowed maintenance to work on any of the air conditioners! These idiots don’t read what they enforce! It screws over everyone!
Sadly, this is what happens when there is zero oversight. Repairs and increased HOA costs should have started decades ago, but when no one is held accountable…
They are taking after our federal govt and the national debt.
Seems obvious things were left bad to get worse. Bet they rebuild something that requires higher class clientele
What happen to the HOA? Stole all the money or everyone was too cheap?
Too cheap.
Or a combination of both
Poorly constructed and yet no mention of the builders.
That place is a dump.
These are NOT homeowners. They are renters.That should be made clear. Each condo unit is individually owned and was rented out by landlords and there are hundreds of landlords in that complex.
Wow! That never crossed my mind.
But how does that change the equation?? Are you saying that each "Landlord" would be responsible for upkeep of their respective units?? Or is there a Super Landlord responsible for everything?? I'm not sure how that works.
It’s a condo and each unit pays for strata fees HOA, but I don’t think they had paid enough into the contingency fund and didn’t do any repairs over the years.
@@nickyb7266 "They" meaning the HOA?
What are you talking about? They clearly stated that woman was paying her mortgage.
I like gumbo
That’s Florida for ya.
THAT’S EVERY CONDO ASSOCIATION! Do not buy a condo, they are all criminals!
Disgusting this should be criminal
This is happening all over
They want that land for new people
WOW. That took years to dive into disrepair. Shameful!
Sadly any homes built frame wont last more than 50yrs. Alot of condos here in FL that was built recently wont last more than 40yrs old.
The entire state of florida up in the or under water senator & governor quietly listening whilst doing nothing
Hard lesson for Florida to learn. A need for checks and balances in the construction companies. Building in sub tropical areas need special attention to building materials and maintenance schedules
as squishy as the ground is there, the state bird for Florida is the sinkhole, I can imagine infrastructure problems would easily be a consideration.
You FAILED the lesson.
This is a story about NEGLECT...
@@HughJass-jv2lt The condo owners failed to maintain their own property. Fix a problem when it happens or before it happens, not 10 years down the road
@@UncleDavesKitchen
Have you *NEVER* lived in a Condo?
"MAINTAINING" the community is the Responsibility of the *H.O.A.*
That is one of the primary REASONS a person decides to live in a condo; Some other Party maintains the Development.
They want more space/freedom compared to a Renter...
But LESS Responsibility compared to a traditional Homeowner.
Have a Nice day 🍋🍋
@@UncleDavesKitchen
Regarding the original comment;
He was trying to put the BLAME on the "builder/developer".
Which is absurd.
This is clearly a Case Study of *NEGLECT.*
Granted,
you say it's the fault of the "condo owners"...
I say it's the fault of the H.O.A.
To be fair...
it may be a Distinction without a Difference.
But I think both of us Agree...
this is Not the Fault of the original Builder ☀️☀️
How is this the governor fault ?
It’s not
It's not those are probably Chinese bots. Russia and China setup bot farms to sow discord in western countries.
It’s not.
This has nothing to do with the new Florida SB-4 legislation DeSantis signed into law requiring structural building inspection. SB-4 only applies to Condominium Owners Associations (COA) communities that are 3 stories or greater and 25 or 30 yo. These buildings look like they are only 2-stories. The new law does not apply to HOA’s.
Aka - Condo HOA’s NOT DOING THEIR JOBS! Never, ever, ever buy a condo!!
No problem, Venezuelans are moving in.
They fix it tomorrow
Illegal aliens from Venezuela and Argentina
😅🕺
Hardworking Haitian too
I truly feel for them
Boy is she lucky she’s has good friends that charged her to help move
I wish I had friends like that
Thanks, Mr. Padilla you rock
If you are paying the mortgage and get evicted due to the HOA/COA negligence. They should have to take over the mortgage until it's livable again. Never will i ever buy a condo.
Where is the HOA accountability? They have a bunch of power, but lack responsibility.
How did the owners and association let it get that bad?
i think they could use better materials that don't degrade so fast possibly Hemp or Hempcrete it is 10 times stronger than steel. and if they made cars with it there would not be as much hail damage if any. Ford made the Model T from Hemp it ran on Hemp fuel he hit it with a sledge hammer and it did not dent the car so i have heard. So ok its a strong material and so why are we not using that instead?
Wtf going on in miami with these apartments. This is very sad
You should see all of the dilapidated rentals in the city of Houston, everywhere snd it affects hundreds of tenants all over the city ,rats snd mold and monster cockroaches from hell, all corners of the city ,garbage poled up, sewer lines seeping out into the parking lots, third world city ,znd nobody cares@😮
Condos, not apartments! HOA’s should be illegal!
Pembroke Pines is in Broward County
@arthurm.358 ok who cares wat I say but you
Mercy Lord, i no what it is to not living anywhere n not used to, im going through it..😮
Sell the property, distribute proceeds to the condo owners and let the new owners demolish the structure and build something else.
In this case that is the only way forward.
I always knew the surface was too pretty but underneath was crap
Sound like you use to live there, and relocated other complex. Smart.😁
@@joechen353 I've been around and seen some of these cheap crap condos in Florida built and always knew none of them would last. They are made out of wood with a cheap facade ina salty environment with natural ground water that rests above ground prior it being drained to build homes. Regardless the ground in the majority of Florida where homes are now on is always wet ground. And some areas have high water tables only a few feet below ground. This destroys these homes quickly. Just a money grab and bag holding opportunity to loot unsuspecting northerners
So sad. Wish I was rich. I hope they all find help.
Don’t buy a condo anywhere at anytime! My grandfather lives in one in Ohio, the upstairs neighbor essentially OWNES the air conditioners because of the law and how the condos were built (no one thought ahead)! When that condo owner says NO to someone coming in to repair, THEY CAN’T DO SH!T!! Condos are a SCAM, especially for the elderly!!
Every HOA should have a newsletter sent to all the residents on a monthly basis. Among other info would be a breakdown, or itemized list, of how fees are spent. Any discrepancies would appear & be accountable. This should be mandatory for ALL HOAs. 🙏❤😊
The problem is those aren't condos they are regular apt
Sad, smh
Praying for the peeps and the entire situation 🙏
For a building to get that bad, the owners must have either not cared or had a HOA manager that was incredibly neglectful.
Whats was hoa doing?
Mismanagement of $.
Embezzling money
😡😡?????????? WHAT WERE THEY DOING? ROBBING EVERYBODY!! THE USUAL FRAUD HERE IN MIAMI THEY ALL BECOME CHUMMY-CHUMMY FRIENDS AMONG THEMSELVES AND STEAL EVERYBODY'S MONEY DON'T DO ANYTHING FOR THE BUILDING BUT CUT GRASS AND SLAP A NEW PAINT JOB OVER MILDEW😡
This is disingenuous. These buildings were condemned. That's not the "condo crisis"
What charactrizes the differences between Apt, Condo and Townhouse today?
Sue the condo owners
If they can find them it's many investors that switch up. They call themselves a COMPANY not by name and just disappear
I’ve been seeing a lot of videos like this.
Looks like cheap construction from the builder and lax codes in the state.
How’s voting for deregulation worked out for y’all?
Wow America is done
Great job DeSantis. FL wanted him and they got him.
They love him here in Florida. High property taxes, home & car insurance, HOA fees , rent to dam high. Keep seeing these condos on MLS (Heron Pond).
this one had nothing to do with Ronnie
😂 👉 @@tofuyam7361
MAGA Ron Desantis!
What does this have to do with DeSantis? Obviously the association was not doing their job using the funds to maintain the bldgs.
They're not going to repair these buildings but knock them down. The owners are counting on people not paying their assessment fees. The land will then be purchased by the developer at a hefty price, making the landlords millions.
Space underneath Miami’s over passes are getting full😳
Never ever buy a condo. I'm a former realtor. Want to be a homeowner? Educate yourself on what it takes to buy and maintain a house and then buy one. FYI, even with fixed rate mortgages, monthly payments go up due to insurance and property taxes increasing.
It's insane. We have never owned a home. Fail to pay 1 penny in your property taxes, guess what happens? Boom The privately owned Federal Reserves and it's sicario partner, the IRS, will come and take your fully paid house. Life is beautiful
Slum lord
So what I hear you saying is that the home owners took care of their houses but the hoa fumbled the bag?
Sue the city council for giving the building permits. Sue the developers who build these crappy unsafe condos and apartments.
Condo owners are a collective of owners of the property. Moving out is leaving their responsibilities to another. These are lessons they deserve to be responsible to know. Neglecting your responsibilities will cost you. They should have kept up the maintenance of their property.
Hope there mortgage companies understand, so sad 🙏
That’s a rental community, no HOA. The owners are responsible for the maintenance.
Orlando’s gonna have a field day with this.
They sold the complex to a friend for dirt cheap. I think theyre in the process of either remodelling or reselling it to a foreign investor.
That’s crazy
It seems the particular mini climate corrodes buildings faster in Florida.
building house and apartments out of carboard and cheap wood was never a good idea. 😢 We living la vida loca, the fall of Wonderland in America. 🎉
This is a long time coming, the residents knew they were eventually going to leave why wait till the last minute? So what happened when they are property owners? Will they lose all the investments in the property, still owe on the mortgage?? The call them apartments then say there are owners, too.
Condominiums are NOT HOA's!!! Condominium associations are governed by different laws in Florida because they are vastly different from homeowner associations. Referring to condominium associations as HOA's is the first clue that people don't know what they're talking about.
It sucks. But every year the owners in these condos voted to not increase their fees they voted for this inevitability
I have to get paid because I am a worker 😂😂😂
Don't contribute to your reserve fund for years then act surprise when the place falls apart!
Wow😢
This is a classic case of deferred maintenance over the years. People (owners) who never wanted their condo fees increased to fund reserves as a lot of the arguments made is that they won't be there in 20 years so why pay. It is a shame they are in this situations. I've been on boards in Miami beach where most owners were investors who did not want to pay reserve as they made more money the less they paid. I just sold and left. Now owners are blaming the HOA but in reality they are the culprit.
Is this planned?
Looks like a ghetto complex
Yep. I viewed these condos 10 years ago & they were unfit then & now to live. No one mentioned the condition of the lake behind them, not a pretty sight.
I've lived in South Florida for several decades now. Thwy weren't always liek this. When no one is held accountable for overseeing HOA funds and ensuring repairs are done but the residents are responsible for continuing to pay HOA fees, this will happen.
@bumblebay9559 what is the lake like?
🙄I’m retiring soon but I’m glad that real estate is going through a madness phase. Once the dust settles settle I can make an informed decision. ☹️🤔sad what those folks are going through.
It's insane. We have never owned a home. Fail to pay 1 penny in your property taxes, guess what happens? Boom The privately owned Federal Reserves and it's sicario partner, the IRS, will come and take your fully paid house. Life is beautiful
why would you buy a place in this junkhole
Well that's not good 😞😞😞
Tear it down and make it a golf course. It’s seems like this is what the governor wants.
Those must be section 8 condos.
Maintenance is a must for everything.
Karma has came in a full circle because most of these people are the same people who have snubbed the true “ FBA” out of any existing chance to be able to own a home or condo for years….
It’s those people again
Wait mortgage I thought these was rentals. Oh goodness.
Thanks for nothing Ron.
What about her mortgage, seems like a plan all along and Blackrock will swoop in and buy the property when everyone is in foreclosure because paying rent and a mortgage.
the residents supposed to fix there own condo
All DeSantis fault .
So if Charlie Crist would have been the governor would this have been his fault? If you bother to research the history on corrupt HOAs this goes back over 20 years.
@@patfrederick7327 There u go ... he didnt even pick him 🤣
For decades condo associations couldn’t get owners to vote for money to do inspections and repairs. For decades no one wanted to pay….now the bill is really coming due. The new law in Florida has been the law for decades every where else. Cheap condo fees for decades means the building will fall down from lack of maintenance. Like a statewide game of hot potato…sell before the collapse….leave the next buyer with the bag. Someone was going to get stuck…now we see it.
the HOA let it get like that
Is a rather odd thing to treat Florida real estate as having so awesome a value. So much of the Florida population is transient/transitory with even be worse so many owners of property living out of State so this is a policy issue that is very much in need of a State of Florida response as the worst possible outcome is suddenly *"everyone loses/no one wins"* in what is of course a massive down market...hardly the only one in the USA with this problem but yes *"this problem."* The *GREAT* news is that new builds are being had and this includes for actual Homes as well. I still look at a Home in Florida for $40,000 US Dollars as about right actually so some possibly an enormity might need to understand that once you start building on a property you're actually driving the value of that property *DOWN* not up. Yes once the appropriate public services become available that can change. That doesn't mean this will happen tho. "Build something there and suddenly everything becomes worthless" is pretty normative in US History actually. I was just reading up on Newburgh, New York of Orange County Choppers fame...once ine of the most beautiful places outside of New York City then completely crashed and burned...now seeing a dramatic revival tho on account of people having a passion for, well...living somewhere that truly is beautiful actually. Hopefully the next chapter in all of this is that! This much supply of housing in all of the USA and no one living in any of this is not new to me as a New Yorker anyways😊
Anyone saw what I saw !!!
This is 50k tops nothing more
Sofla is a mess!
well we send billions to ukraine and israel, but not to people in Florida
This is a state issue not a federal one. I live in Iowa & don't want to pay for condo repairs in Florida. I pay for my own home repairs.
@@jackwilson3121 last time i checked florida and iowa are part of the US, Ukraine and Israel are thousands of miles away
@@petermike22 we are keeping the war there so it doesn't come here. We are paying to keep it THERE. We are doing it for our own interest. We aren't doing anyone any favors.
@@safety36 yeah right lol
You now worried about Ukraine, you wasn't worried about the massive increase trump gave to the military industrial complex? its all the same, and when he gets elected that budget will increase.
Where’s Governor DeSantis? What is he doing to help them?
Lol
Anyone remember the names of the people who told them how good of an investment are?
Maralago tent city!
DeSantis where are you! Put down your hairspray and high heeled boots and do something to help
Movers are superheroes
Actually the mover interviewed was being paid for his time wouldn't that make him a Contractor not a Superhero?
Very odd situation. So 15 buildings were condemned when you were planning to move in two months ago and you (lady with pony tail and grey t-shirt) didn't think there was concern but still moved in? Anywhere near the water is an issue; and the majority of problems for same complex for many years. Seems also, notices from last year that buildings will be condemned, so people actually did have time to move and get their deposits back from the "condo". Where are the HOA fees to keep that place maintained? Hope they all found somewhere else to reside.
The crisis is here.