Preserving Property Value Property value in an association-governed community depends on more than market trends or location. It relies heavily on how well shared infrastructure is maintained. When amenities decline, resale values follow. A reserve study protects against that downward slide by ensuring necessary repairs and replacements are adequately funded and timed. Deferred maintenance signals [...]
Property owners in Skagit, Island and Whatcom counties, take note: significant changes are on the horizon for how common interest communities operate, with many new provisions of the Washington Uniform Common Interest Ownership Act (WUCIOA) set to take effect sooner than anticipated. This impacts condominiums, plat communities, and other homeowner associations (HOAs) across our region, [...]
Heads up, Washington homeowners! That condo collapse in Florida back in 2021 was more than just a tragic news story – it's sent shockwaves through HOAs and condominium associations nationwide, including right here in Washington State. Why should you care? Because those ripple effects mean higher fees, bigger headaches, and a fresh look at what [...]
The changes to HUD under the Trump administration have a complex and potentially far-reaching impact on both current and future homeowners. Key Changes and Potential Impacts Rollback of the Affirmatively Furthering Fair Housing (AFFH) Rule: The rollback of the AFFH rule could potentially lead to increased segregation and unequal access to housing opportunities. This could [...]
WUCIOA how did we get here? It's important to understand the history of Washington State's laws regarding common interest communities, including condominiums. The laws are undergoing significant changes, particularly with the implementation of the Washington Uniform Common Interest Ownership Act (WUCIOA). Here's a breakdown of the changes over time: Key Legislative Shifts: Washington Condominium Act [...]
For condominium and homeowners associations, strategic winter planning is crucial, especially when budgeting for services like snow removal. Tools like the Farmers' Almanac, with its long history of weather predictions, can offer valuable insights. This past winter, the Almanac forecasted a "wet and cold" season for the Pacific Northwest, influenced by La Niña, predicting a [...]
As of early 2025, the Corporate Transparency Act (CTA) remains a significant compliance factor for incorporated community associations nationwide, including those in Washington State. While the initial BOI (Beneficial Ownership Information) reporting deadline has passed, continuous compliance and awareness of potential updates are vital. The CTA's implementation and enforcement are still subject to refinement, and [...]
Waking up this morning (March 3rd 2025) to a 4.5 earthquake was a reminder that mother nature can throw a disaster our way which can have financial implications to the associations. Condominium associations in the Pacific Northwest face a unique set of natural disaster risks, primarily fire, flood, and earthquakes. Proactive risk mitigation is essential [...]
Fannie Mae and Freddie Mac, two government-controlled giants of the mortgage finance world, have been under federal conservatorship for nearly 17 years. But the idea of privatizing these entities is gaining traction again in Washington, D.C. This raises important questions about the potential impact on homeowners in Washington state. Why are Fannie and Freddie so [...]
The Impact of Reserve Studies in Light of the Corporate Transparency Act The Corporate Transparency Act (CTA), a federal law, has introduced new reporting obligations for incorporated community associations, impacting how these associations, and their boards, operate. While the CTA's implementation and enforcement are subject to change due to ongoing legal challenges, understanding its implications, [...]