Welcome to the Olde Ivy 2010 Townhomes Annual Meeting
Olde Ivy at Vinings Townhomes Association Annual Meeting November 10, :00 PM Clubhouse Welcome Scott Schuck Establish QuorumKen Baggs Approval of 2009 minutesScott Schuck Election of 2010 OfficersKen Baggs President’s ReportScott Schuck Financial ReportsJerry Crow Property Manager’s ReportKen Baggs QuestionsScott Schuck Election ResultsKen Baggs Closing RemarksScott Schuck Adjourn Social
Townhomes BOD Scott Schuck- President Keiffer Phillips – Vice President Melinda McDonald - Secretary Jerry Crow – Acting Treasurer
2011 Townhomes Budget
Roofing
Barry Laughon
Are things getting better? Not a YES or NO answer! Historic low interest rates! 50 % of the buyers are moving up! 24 th consecutive year to year decline in WD. 23 rd consecutive year to year decline in EXP.
Atlanta Overview September 2010 Increased sales in 34% of the zip codes! All zip codes experienced a decline in value! Best Zip Codes 30080, 30024, 30223! 31% of Atlanta homes are under 100K! 22% of Atlanta homes are under 50K!
Olde Ivy September 2010 Total sales 2010 – 10 total units! 1 Patio Home – $410K 3 Townhomes – $257K 6 Manors – 2bdrm $213.5 – 3 bdrm $275K 0 Lofts sold so far this year!
Supply and Demand! months
Current market! You must price ahead of the market! It’s a beauty pageant! Buyers shop in price tiers! You’re either IN or OUT of the market! If priced right you don’t get low ball offers! Updates and remodels are essential to sale! Values - approximately 30% less than peak!
Your HOA is very important! Maximum 30% renters to owners ratio! Diligent in collecting delinquent HOA fees. Must have adequate reserves! Budgets for capital maintenance! Monthly HOA dues must stay reasonable!
When will the market return? Once we hit bottom – 5 to 6 years! Foreclosures & Job concerns are the biggest problems.
Call anytime under no obligation
Your HOA is very important! Maximum 30% renters to owners ratio! Diligent in collecting delinquent HOA fees. Must have adequate reserves! Budgets for capital maintenance! Monthly HOA dues must stay reasonable!
Delinquency Report
Townhomes Financial Model
What If…
Property Manager’s Report
We Need Volunteers!!!
Questions & Answers
Election Results
Closing Remarks
Please stay for our social gathering