Re: historical examples of coho development in falling market?
From: Sharon Villines (sharonsharonvillines.com)
Date: Tue, 3 Mar 2009 09:30:41 -0800 (PST)

On Mar 3, 2009, at 12:00 PM, Ann Zabaldo wrote:

I would suggest getting your take out mortgage money lined up in
advance.

And mortgage approvals. Adding to all the excellent things Ann said, you need to know that your prospective purchasers can afford the estimated price of your units. Mortgage brokers will "pre-qualify" your members so they know how much they can afford. And right now brokers are being very conservative -- finally.

And to answer the next question people ask, I personally don't think the group has to have copies of the pre-certification. In most cases when you are dealing one-on-one with people, you know if they are being honest when they say "yes, I was pre-certified."

Pre-certification just tells people that you are serious and can go a long way to disabusing people of the notion that cohousing is a charity.

We have one member who still thinks, 9 years in, that we should be subsidized or get grants from the city. And residents not infrequently, even though they own their units, think we qualify for various programs targeted at non-profit organizations.

It reminds me of a running shoe store owner who said one of his biggest problems was runners who felt so noble for running that they believed they should get free shoes.

Sharon
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Sharon Villines
Takoma Village Cohousing,Washington DC
http://www.takomavillage.org




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