As a homeowner, one of the most significant investments you make is purchasing a home. As such, it is essential to maintain and improve your property's value over time. However, lawsuits against an HOA can have serious repercussions for property values. All your hard work is adversely affected by the actions of others, leaving you with a declining home value.
Lawsuits against an HOA can have a significant impact on property values. Litigation weighs on the property's value and stability in the eyes of the banks that offer much needed mortgages to prospective home buyers. For this reason, over the past five months, the board has settled a number of lawsuits that were giving mortgage companies cold feet with our property. The hard work is paying off and you're the direct beneficiary.
As of March 14, 2023, records indicate that property values at Lisle Place/Naper Place have risen 25%! A one bedroom and one bathroom unit was sold for $124,000 on the property. A unit with the same floor plan had a market value of just $100,000 in April of 2021. According to Redfin's Market Analyzer, condominium values in DuPage have risen 6% in the last year. This means that Lisle Place outpaced the market by 18%.
Opmerkingen