Re: Replacement reserves | <– Date –> <– Thread –> |
From: Elizabeth Stevenson (tamgoddess![]() |
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Date: Fri, 9 Apr 2004 08:12:58 -0700 (PDT) |
Co-ops ARE groovier. The reason it's hard to get a bank to finance a co-op is that they don't make a profit for the homeowner. I may have some details wrong, but you basically get out of it what you put into it when you sell. If it requires 5K (or a percentage, whatever) to buy in, you get 5K when you leave, and the next person gets the same deal. So, for instance if you live in California and property values skyrocket, as they often do, you are stuck in your co-op, unless you have plenty of money to start over somewhere else. You don't build equity. I personally would be unable to buy another house in Sacramento without the equity I now have in my house, which has more than doubled in value in a really short time, maybe 18 months or so. If there were a lot of co-ops here, it would be do-able, but there aren't. It would require legislation, I guess, so that may never happen. In a more stable market like Ithaca, it makes more sense, especially if you want to attract lower-income buyers and have units that are earmarked for affordability. The units stay affordable, and people aren't as trapped after living there. Maybe I'll retire in Ithaca... -- Liz Stevenson Southside Park Cohousing Sacramento, California lilbert [at] comcast.net Sponsor me shaving my head for childhood cancer: http://www.stbaldricks.org Click on "Sponsor a Shavee" and enter my name as written above. Before and after pictures are posted! > From: Joe Nolan <jnolan [at] adobe.com> > Reply-To: Developing cohousing - collaborative housing communities > <cohousing-l [at] cohousing.org> > Date: Fri, 09 Apr 2004 10:54:21 -0400 > To: Developing cohousing - collaborative housing communities > <cohousing-l [at] cohousing.org> > Subject: Re: [C-L]_ Replacement reserves > > Elizabeth Stevenson wrote: > >> I wasn't even aware there were co-op cohousings, so that's how rare you are >> (or unaware I am)! >> >> > We have 2 coop coho neighborhoods at EcoVillage. > Not sure why it was chosen instead of condo. > It does sound groovier. > ;)
- Re: replacement reserves, (continued)
- Re: replacement reserves Howard Landman, April 7 2004
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Replacement reserves Harriet Lewis, April 8 2004
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Re: Replacement reserves Elizabeth Stevenson, April 8 2004
- Re: Replacement reserves Joe Nolan, April 9 2004
- Re: Replacement reserves Elizabeth Stevenson, April 9 2004
- Re: Replacement reserves Joe Nolan, April 9 2004
- Re: Replacement reserves Elizabeth Stevenson, April 9 2004
- Re: Replacement reserves Sharon Villines, April 11 2004
- Re: Replacement reserves Elizabeth Stevenson, April 12 2004
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Re: Replacement reserves Elizabeth Stevenson, April 8 2004
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