Community Associations Network Industry News

ENCINITAS, Calif., April 10 /PRNewswire/ -- After months of looking, you have found the perfect condo. The price is right, the layout is spacious, and the commute to work is easy. What you see looks great. But what you hear -- or don't hear -- could make the difference after you move in.

Getting an approximate idea of the noise -- or lack of it -- in a multi-family residence can be accomplished by looking for a few things and asking a few questions, said Mike Komula,
an acoustician with Dudek, an Encinitas, Calif. environmental consulting firm that works with homebuilders.

While Komula employs sophisticated instruments and techniques to measure and analyze noise for builders designing multi-family housing, he offered tips for the weekend condo shopper:

* Have a companion go to the adjacent unit to run simple tests -- turn on a radio at various volumes; flush toilets; walk along the floors and turn on bath and sink taps. Plumbing noise can be an issue when pipes are too small or transmit vibrations to the walls. * In multi-story complexes, see if compatible rooms are stacked above your rooms to minimize occasions for possible footfall or pipe noise. For example, you want another bedroom above your bedroom rather than a kitchen or a bath. * Check the windows for single or dual panes. Dual panes absorb more sound. Thicker panes and wider air gap between the panes will increase sound reduction. * Expect to find hollow doors on the interior; swapping them out for solid-core doors will help reduce interior noise.
"Some key issues won't be visible because they are between the walls and below the floor," Komula said. Komula said condo shoppers can ask the following questions if the builder is accessible:

* Are the shared walls "double walls"? Two rather than one 2 x 4 stud walls are used to absorb more noise by creating an air gap and separating the walls. * How many layers of drywall are on each side? Two layers absorb more noise. * Do the walls and ceilings use resilient metal channels? These inserts act as shock absorbers to reduce sound and vibrations from passing through the wall or ceiling. * Does the floor have a lightweight concrete layer on top? This adds more mass to the floor to reduce the transmission of airborne noise and impact noise of people walking, even on a carpeted floor. * What is the Sound Transmission Class (STC) rating for party walls and floor-ceiling construction? California and the Uniform Building Code require a minimum rating of 50. Komula said a 60 STC rating indicates the acoustical privacy between the units is considerably better than 50. A 65 STC rating indicates very high quality in terms of noise reduction, he said.
"The builders we work with are increasingly aware that managing noise makes their multi-family projects much more attractive to buyers," Komula said.

Dudek is an engineering and environmental consulting firm that works with land developers, builders and public agencies. The firm is headquartered in Encinitas with offices in Orange, Riverside, Los Angeles, Santa Barbara and Placer counties. For more information, e-mail info@dudek.com.

Contact: Christine Clinton Dudek 760.479.4275

Posted by Joe at 10:37 AM | Permalink

Robert J. Bruss
Inman News

If you want to avoid costly mistakes when buying a condo, co-op or townhouse, "Tips and Traps When Buying a Condo, Co-op, or Townhouse, Second Edition" by Robert Irwin explains virtually all the potential pitfalls and how to avoid them. This easy-reading book is filled with many examples from the author's experiences with these unique types of housing, which require more than just casual investigation.

Irwin explains both the advantages and disadvantages of what he calls "shared ownership properties." But don't be misled. He does not even mention the popular "tenant in common" (TIC) residences that have become popular in several cities to avoid the legal aspects of condominiums.

Purchase Bob Bruss reports online.

Although the book's emphasis is on the negatives of condos and co-ops, as it should be, the author occasionally discusses the benefits of this special type of housing. But he spends much of the book warning what to look for and avoid in apartment buildings that have been converted to condos or co-ops.

This ultra-complete book uses many pages warning about the negatives of cooperative apartment buildings, found mostly in New York, Chicago, Florida and a few California cities. The huge negative of the board of directors' inquisition approval or disapproval of prospective co-op buyers and renters, Irwin warns, holds down the market value of co-ops compared to equivalent condominiums that do not require approval of prospective buyers.

As the current and previous owner of several condominiums, Irwin shamelessly shows his battle scars from dealing with boards of directors and architectural committees. He warns condo buyers to read the CC&Rs (covenants, conditions and restrictions), by-laws and rules before purchase, but don't think you can change these limitations after you buy.

If the book has a drawback it would be it is too positive about buying a condominium. Irwin fails to emphasize the possible drawbacks prospective buyers should consider, such as poor soundproofing, living close to your neighbors, restrictions on pets, limitations or prohibitions against renting to tenants, and other rules that were enacted to benefit the condo owners.

For example, Irwin omits the reasons why condo boards of directors struggle to limit or prohibit rentals because when rentals pass 20 percent to 30 percent of the units, mortgage lenders either stop lending in the complex or charge buyers abnormally high interest rates due to the increased risk of foreclosures.

Although Irwin obviously has considerable personal experience with condominiums, as a critical reader I wondered why he made some statements.

To illustrate, he says: "You owe it to yourself to attend at least one board meeting before buying a unit in any development. After all, these are the people who will be setting and enforcing the rules under which you'll be expected to live." First, the author makes it sound like the condo (or co-op) board of directors is the enemy, although they act on behalf of the owners. Second, I doubt whether prospective buyers would even be allowed to attend most monthly board meetings.

Chapter topics include "Is It a Good Investment?" "How to Decide if a Condo, Co-op, or Townhouse is Right for You"; "Nine 'Red Flag' Questions You Must Ask Before You Buy"; "Buy Old, Buy New or Buy a Conversion?" "How to Evaluate What You are Buying"; "Checking the Inspection and Disclosure Reports"; "Living by the Rules"; "Beware the Architectural Committee"; "Fighting the Board"; "Can I Rent Out My Condo, Co-op or Townhouse?" "Tips on Financing a Condo or Co-op"; "Just for Condo Buyers"; "Just for Co-op Buyers"; "Just for Townhouse Buyers"; and "Tips for Selling Your Condo, Co-op or Townhouse."

This is an excellent book for anyone considering the purchase of a condo or co-op. It raises virtually all the unique issues that confront owners of these specialized types of housing. On my scale of one to 10, this ultra-complete book rates a solid 10.

"Tips and Traps When Buying a Condo, Co-Op, or Townhouse, Second Edition," by Robert Irwin (McGraw-Hill, New York), 2007, $16.95, 202 pages; available in stock or by special order at local bookstores, public libraries and www.Amazon.com.

Posted by Joe at 1:14 PM | Permalink

This January, communities across the nation will lead activities and host special events to increase awareness of the health effects of radon exposure and to promote radon testing, mitigation, and radon-resistant new construction. EPA invites you to join our outreach efforts to help prevent thousands of lung cancer deaths.
Throughout the year, EPA works with communities interested in increasing public understanding of radon. But January is a special time of year because EPA has designated it as National Radon Action Month.

Keep up to date on the latest National Radon Action Month news here and learn how to get involved. Find helpful tools and resources to support your radon activities. Also find out about radon awareness efforts across the country and share your own.

Share Your Activities

To share information about your own National Radon Action Month event, visit www.cadmusgroup.com/dev/nram/ . If you have questions or problems submitting this form, please send an e-mail to radonevents@cadmusgroup.com. Please note that from the time you submit your information, it may take two or more business days to post. The Cadmus Group, Inc. is a contractor supporting EPA's NRAM activities.

For more information and materials visit the EPA's Radon Site

Posted by Joe at 8:05 AM | Permalink

St.Croix (PRWEB) September 7, 2006 -- Before investing in a Condo Hotel project potential investors need to read a case study prepared by Frank Arena Editor of investsmartnewsletter.com

Case study 101
There are many different types of condo hotels. Condo hotels sell for $300,000 to millions of dollars. Let’s review two examples of condo hotels being offered in the Orlando/Kisssimmee Florida area.

One option is new construction ranging from $400 per square foot to $700 per square foot.

A second option is conversion of an exiting franchise hotel. These units are 331 sq.ft. and sells for $272 psf. Let’s compare the two investments and see which one makes good dollar and cents.

If you purchase a 400 sq. ft. unit for $600 per sq. ft., your purchase price would be $240,000. With 10% down and 30 year amortization at 6.5% interest rate, payments would be $1,390 per month.

The monthly income for this condo hotel based on the national occupancy rate average of 57.1% (percentage of hotel rooms used) and national average daily rate of $94.94 (the amount charged per room), according to Smith Travel Research would be $1700. per month. Most condo hotels take 50% of the profit as their fee for handling daily operations plus an HOA fee. For this example let’s keep the HOA, property taxes the same on both case studies.

57.1% (national average rented) x 30 days per month = 17 days rented

17 days rented X $100 per day = $1,700 per month income
50-50 split with management company = $ 850 per month to them and $850 per month to owner

Monthly mortgage $1,390 per month
HOA fee 515 per month
Property Taxes 100 per month
Insurance 200 per month

Total Expenses $2,205 per month

Expenses $2,205. – Income $850 = Monthly loss $1,355 X 12 months = $16,260 loss per year

This would obviously not be what you would call a smart investment.

Now lets do the math on the existing franchise conversion unit selling for $272 psf. For simplicity sake, rounded cost is up to $300 psf.

57.1% x 30 days per month = 17 days rented

17 days a month X $100 per day = $1,700 per month
(So far all is equal regarding income)
4% Management Fee = $68 per month to them and $1,632 per month to the condo hotel owner

Monthly Mortgage $567
HOA fee 515
Property Taxes 100
Insurance (included in HOA fee) 0

Total Expenses $1,182

Income $1,632 – Expenses $1,182. = Net monthly profit $450 X 12 months = $5,400 income

Now that is what you would call a smart investment.

That seems like a very fair deal. Don’t even look at condo hotels that are splitting revenue 50-50. Pay no more then 10% per month in management fees. The best management programs are under 5%.

Savvy people are always looking for real property in their state. But smart money goes where the deals are. Even if the value is thousands of miles from home, in today’s real estate market you have to go where the investment makes dollar and cents.

We hope this article helps prospective investors in condotel short for condo hotel smarter investor. Make a smart condo hotel investment

About Frank Arena
Frank is a free lance journalist who writes for http://www.investsmartnewsletter.com

Posted by Joe at 10:18 AM | Permalink

For American Homeowners Association (AHA) president and founder Richard J. Roll, Bridgeport’s latest fire fatality is much more than a statistic. It IS family.

The March 29 fire killed AHA employee Ramona Holliday, along with her father and 2-year-old daughter. The lack of working smoke alarms was blamed in connection with their deaths.

“Ramona and her family are just three of the nearly 4,000 individuals who die each year in home fires – deaths that might be prevented with increased awareness of basic, yet critical, smoke alarm facts,” said Richard Roll, AHA Founder and President. “We designed this initiative to prevent needless tragedies by spreading vital smoke alarm-related information and reaching everyone who thinks ‘It can’t happen to me.’”

Consumers can obtain their free UL-Listed, Kidde Smoke Alarm ($20 retail value), by visiting www.ahahome.com/freesmokealarm.

In addition to the smoke alarm, participants will receive a trial membership in the AHA to use without obligation for 60 days. A small $1.95 processing fee applies to help defray the cost of shipping and handling. It is not necessary to be a homeowner, and all renters and landlords are invited to obtain the free smoke alarm through this program.

“This isn’t just a Bridgeport problem. Home fires are taking the lives of individuals from California to New York,” said Roll. “Our goal is to make people aware that a working smoke alarm is a matter of life or death and provide them with tools that can help them avert such tragedies.”

TOP 10 SMOKE ALARM TIPS

According to the U.S. Fire Administration, having a working smoke alarm reduces one’s chance of dying in a fire by nearly 50 percent because it provides individuals with an early warning and gives them additional time to escape.

American Homeowners Association (AHA) compiled the following list of Top 10 Tips for purchasing, maintaining and installing smoke alarms and Underwriters Laboratories, a not-for-profit product safety certification organization, has tested the Kidde Smoke Alarm that AHA is giving away:
1. You may need several smoke alarms to adequately protect your family – install at least one on every level of your home, including the basement and outside each sleeping area;
2. If you or family members sleep with the bedroom door closed, install smoke alarms inside the bedroom;
3. Some individuals, particularly children, older people, and those with special needs, may not wake up to the sound of a smoke alarm. You should be aware of this when developing a home fire escape plan;
4. Follow the manufacturer’s instructions for installing smoke alarms;
5. Install smoke alarms far enough away from ordinary cooking smoke to avoid false alarms, a common and dangerous reason for disarming smoke alarms;
6. Don't disconnect a smoke alarm or "borrow" the batteries;
7. Test smoke alarms at least once a month;
8. Replace batteries in all smoke alarms twice a year;
9. Replace the smoke alarm every 10 years, or as the manufacturer recommends; and
10. When you purchase a smoke alarm, look for the UL Mark. The symbol indicates representative samples of the alarm have met UL’s stringent safety standards.

American Homeowners Association (AHA), often called the “AAA” for Homeowners, is giving away $5 million of Kidde Smoke Alarms to educate people about the importance of smoke alarms. AHA: adding lifetimes of value to your home and $1000s of savings. To get your f^ree Kidde Smoke Alarm and learn more, visit: www.ahahome.com/freesmokealarm

About The American Homeowners Association
The American Homeowners Association (AHA), America's leading homeowner membership and advocacy group, has delivered buying power, influence and consumer advice to millions of homeowners in every state since 1994. Frequently called "the AAA for homeowners," AHA has its headquarters in Stamford, Conn. AHA provides its members with more than 30 key benefits that save them money; provide opportunities for improving their lives, security and safety at home; educate and inform them on homeowner topics and transactions; and provide a unified voice to elected officials on behalf of homeowners on important issues. For more information, visit www.ahahome.com/freesmokealarm

Posted by Joe at 9:52 AM | Permalink

For American Homeowners Association (AHA) president and founder Richard J. Roll, Bridgeport's latest fire fatality is much more than a statistic. It is family.

The March 29 fire killed AHA employee Ramona Holliday, along with her father and 2-year-old daughter. The lack of working smoke alarms was blamed in connection with their deaths.

As a memorial to Holliday and to prevent similar tragedies, the AHA initiated a year-long, national home smoke alarm safety campaign during a news conference at Bridgeport City Hall today. "The Ramona Holliday National Smoke Alarm Safety Campaign" includes giving away $5 million worth of smoke alarms and a smoke alarm reminder service that will alert consumers when it's time to check their smoke alarms and change the batteries.

"Ramona and her family are just three of the nearly 4,000 individuals who die each year in home fires -- deaths that might be prevented with increased awareness of basic, yet critical, smoke alarm facts," said Roll. "We designed this initiative to prevent needless tragedies by spreading vital smoke alarm- related information and reaching everyone who thinks 'it can't happen to me.'"

The Mayor of Bridgeport, John Michael Fabrizi, joined Roll during the news conference. The press conference also featured an open Q&A session with Bridgeport Deputy Fire Chief Tom Connor and Fire Chief Brian Rooney, and John Drengenberg, manager of Consumer Affairs for Underwriters Laboratories, a not- for-profit product safety certification organization. The panel addressed some of today's most pressing smoke alarm-related issues, including the:

-- Decreased escape time in fires;
-- Urgency to ensure working smoke alarms;
-- Best smoke alarm-related practices by landlords;
-- Goal of the U.S. fire community to eliminate fire deaths by 2020; and
-- Common mistakes that lead to fire-related fatalities.

"Since smoke alarms were introduced, fire deaths have been cut in half," said Drengenberg. "By providing an early warning in the event of a fire combined with practicing a well-developed home fire escape plan, smoke alarms allow you and your family sufficient time to reach safety."

Roll said the AHA is offering the free reminder service by e-mail to every homeowner, landlord and renter in America to remind them when to check their smoke alarms and when to change the batteries. The service is free and available for sign up at http://www.ahahome.com/remindme .

To obtain a free UL-Listed, Kidde smoke alarm ($20 retail value), consumers should visit http://www.ahahome.com/saveme . In addition to the smoke alarm, participants will receive a trial membership in the AHA to use without obligation for 60 days. A small $1.95 processing fee applies to help defray the cost of shipping and handling. It is not necessary to be a homeowner, and all renters and landlords are invited to obtain the free smoke alarm through this program.

"This isn't just a Bridgeport problem. Home fires are taking the lives of individuals from California to New York," said Roll. "Our goal is to make people aware that a working smoke alarm is a matter of life or death and provide them with tools that can help them avert such tragedies."

Additional Information:
"Smoke Alarms Invaluable As Home Fires Burn Hotter, Faster"
http://www.ul.com/media/newsrel/nr100305.html

"Family Fire Escape Plans Require Practice To Be Perfect"
http://www.ul.com/media/newsrel/nr091604.html

TOP 10 SMOKE ALARM TIPS

According to the U.S. Fire Administration, having a working smoke alarm reduces one's chance of dying in a fire by nearly 50 percent because it provides individuals with an early warning and gives them additional time to escape.

Underwriters Laboratories, a not-for-profit product safety certification organization that has been testing products for more than 110 years, offers these Top 10 Tips for purchasing, maintaining and installing smoke alarms:

1. You may need several smoke alarms to adequately protect your family --

install at least one on every level of your home, including the
basement and outside each sleeping area;
2. If you or family members sleep with the bedroom door closed, install
smoke alarms inside the bedroom;
3. Some individuals, particularly children, older people, and those with
special needs, may not wake up to the sound of a smoke alarm. You
should be aware of this when developing a home fire escape plan;
4. Follow the manufacturer's instructions for installing smoke alarms;
5. Install smoke alarms far enough away from ordinary cooking smoke to
avoid false alarms, a common and dangerous reason for disarming smoke
alarms;
6. Don't disconnect a smoke alarm or "borrow" the batteries;
7. Test smoke alarms at least once a month;
8. Replace batteries in all smoke alarms twice a year;
9. Replace the smoke alarm every 10 years, or as the manufacturer
recommends; and
10. When you purchase a smoke alarm, look for the UL Mark. The symbol
indicates representative samples of the alarm have met UL's stringent
safety standards.

Posted by Joe at 9:54 AM | Permalink

SACRAMENTO, Calif.--(BUSINESS WIRE)--April 24, 2006--California based ForeclosureS.com, a real estate investment advisory firm specializing in distressed property and nationwide foreclosure property listings, reported that a combination of overbuilding and rampant speculation in the South Florida condo market could lead to a severe price correction.

"According to a recent study by the PMI Group, the Miami metro area has a 32.7% chance of a price correction in the next two years," said ForeclosureS.com president Alexis McGee, adding, "but the condo market appears to be much more vulnerable than that."

Citing a recent report in Forbes magazine, she said that 25,000 condos were under construction in the Miami-Dade area, more than the total that have sold in the last nine years, and that speculators held 75% of them.

"Local realtors there report that the speculators were selling to each other," said Ms. McGee. "We've seen that before, in Phoenix, AZ and Las Vegas, NV. Sooner or later they come to the end of the line and foreclosures jump.

"Foreclosures are already happening at twice the national average," she pointed out, adding that the number unsold condos in that area has reportedly doubled in the last year.

ForeclosureS.com has been tracking housing markets, assisting foreclosure investors since 1992 and publishes foreclosure property lists nationwide.

"Our goal," said Ms. McGee, "is to help investors locate homeowners in distress and create win-win solutions to their problem that benefit both the homeowner and investor." She went on to say that she applauded the efforts of local and state law enforcement agencies to put a stop to so-called foreclosure rescue scams. She added, "Those people are simply crooks, bent on fleecing people in distress out of money and property. There is an honest and ethical way to deal in foreclosures, and that's what we teach and what we do."

Ms. McGee pointed out that Florida's rapid population growth might mitigate a price correction somewhat. "1000 people a day are reportedly coming into the state, but not all of them are going to buy half million dollar condos," she stated. "That market is getting seriously overbuilt."

She added that, with such rampant speculation going on, there wasn't much her investor clients could do but stand by and watch. "It's very possible that our clients will wind up helping as many lenders as homeowners when properties start going back to the banks," Ms. McGee concluded.

Posted by Joe at 11:10 AM | Permalink

KANSAS CITY, Mo., April 24 /PRNewswire/ -- As the home selling season swings into high gear and many people begin Spring home improvement projects, the National Association of Insurance Commissioners (NAIC) has compiled a wealth of information about homeowner's and renter's insurance for individuals and families-all organized by life stage needs and available at the NAIC's newly launched consumer education web site, http://www.InsureUonline.org.

Most Americans -- approximately three quarters -- insure their homes and personal possessions against fire, theft and other damages, according to a recent NAIC consumer survey. However, there's one notable exception: young singles. Only 34 percent of Americans who own a home or rent an apartment at this life stage have homeowner's or renter's insurance.

Homeowner's insurance covers a home's physical structure and the owner's personal property. In contrast, renter's insurance only protects personal property. Everyone -- homeowners and renters -- benefits from liability coverage, which provides financial protection in case others are injured while visiting their home.

"Understanding your options with regard to homeowner's/renter's insurance is the first step in making sure you get the right type and amount of coverage to fit your individual needs," said Alessandro A. Iuppa, NAIC president and Superintendent of the Maine Bureau of Insurance. "We've identified many of the key considerations by life stage on the NAIC's Insure U web site."

Important Considerations for all Homeowners/Renters

Consumers should understand the major factors that affect their homeowner's/renter's insurance costs:

* Where a consumer lives makes a big difference in the cost of coverage.
People in states prone to hurricanes, high winds and/or hail typically
pay higher premiums for homeowner's insurance, as those risk factors
have a big impact on insurance costs. According to the most recent NAIC
data, in 2003 the average cost to insure a home was $668.

* Many consumers are not aware that they have the option to insure their
home and belongings for either the replacement cost or the actual cash
value. Actual cash value is the amount it would take to repair a home or
replace damaged possessions after factoring in depreciation. Replacement
cost is the amount it would take to repair a home with materials of
similar kind and quality, or to purchase new possessions without
deducting for depreciation. Understandably, insuring property to cover
replacement costs is more expensive than insuring it for its actual cash
value, but may be worth the difference if a consumer can afford the
higher premiums.

* Another simple tip that can save consumers time and aggravation if they
ever need to file a claim: make an inventory of personal belongings and
save receipts for major items, along with a photograph or video of each
room. This documentation should be stored in a safe place outside the
home, such as a safe deposit box, in case the dwelling is destroyed.

* As many consumers learned from last year's violent hurricane season,
damage to a home or belongings caused by flooding is NOT typically
included in a homeowner's policy. Consumers who live in areas prone to
flooding should inquire about flood insurance through the federal
government's National Flood Insurance Program (NFIP).

* People who own expensive valuables-like jewelry, antiques or art-will
probably want to purchase an endorsement to their homeowner's policy, as
these types of valuables are typically not covered by basic policies.

Tips to Help Consumers Lower their Homeowner's or Renter's Premiums

Many factors that affect insurance costs are within the control of consumers:

* Shop around and compare the costs of comparable coverage from different
insurers to get the best value.

* Install smoke detectors in key locations; keep fire extinguishers handy,
especially in the kitchen.

* Install dead-bolt locks and a burglar alarm system, particularly one
that directly contacts the police or fire department or an external
monitoring service.

* Keep up a solid credit history, as many insurance companies offer better
rates to individuals with good credit ratings.

* If you can absorb the higher out of pocket expenses in the event of a
loss, select a policy with a higher deductible (the amount not
reimbursed by your insurance); the higher the deductible, the lower the
premium.

* Consolidate homeowner's and auto policies with the same insurer to
qualify for a multi-policy discount.

Homeowner's/Renter's Insurance Tips for Different Life Stages

At different life stages, consumers' homeowner's/ renter's insurance needs are likely to change. For example:

* Young singles, who typically rent rather than own and may have one or
more unrelated roommates, should know that each leaseholder needs
his/her own individual renter's policy to protect his/her own
possessions and against liability for accidents that happen on their
premises.

* Young families who may be buying their first home should know that in
most instances it only makes sense to insure their home itself and
belongings-not the land on which the home sits. Also if they install a
swing set or trampoline for their kids, they should consider additional
umbrella liability insurance to cover them in the event a visiting child
is injured while on their property.

* Established families that may be remodeling or building an addition to
their home should update their homeowner's policy to reflect these
enhancements, particularly if they add $5,000 or more to the value of
their home.

* Seniors should ask if they are eligible for discounts. And if they've
just paid off their mortgage-and their homeowner's insurance was
previously paid through their mortgage company-they need to alert their
insurance company to send the premium bills directly to them and to pay
on time so that their homeowner's policy doesn't lapse.

"All consumers need to protect themselves from being scammed by fake insurance companies selling bogus insurance policies," noted Catherine J. Weatherford, NAIC Executive Vice President and CEO. "All they need to do is take a few minutes to stop, call their state insurance department and confirm that a company is legitimate and authorized to sell insurance in their state before purchasing insurance."

Posted by Joe at 11:07 AM | Permalink