The Daily Sun-Up

HOA issues trickling into Colorado condo sales

6 snips
Apr 1, 2025
Tamara Chuang, a Colorado Sun business reporter, discusses how HOA insurance issues are creating headaches for condo buyers. She reveals how guidelines from Fannie Mae and Freddie Mac are putting properties on a blacklist, making them unsellable. The rising insurance costs are putting a strain on HOA fees, impacting property marketability. Tamara also touches on the importance of adequate capital reserves for condos after events like the Florida collapse, and highlights community advocacy efforts to address these pressing challenges.
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ANECDOTE

Seller's HOA Challenge

  • One seller had difficulty selling their condo due to deductible issues with their HOA.
  • They rejoined the board to fix the issue and finally sold after six months.
INSIGHT

David's HOA Experience

  • David Krause had a similar experience in 2018 when his loan was canceled two days before closing.
  • The HOA lacked sufficient funds in its capital reserves, highlighting the importance of HOA compliance.
ANECDOTE

Aurora Complex Insurance Hike

  • Randy Garlington, HOA president of an Aurora complex, saw insurance premiums triple in 2024.
  • Condo fees increased by $200 per unit monthly, impacting affordability.
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