Tag Archives: HOA

Do it yourself

How to Keep a Suburban from Running over sprinklers and keep snooty people away

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By dnspade

One of my lines of sprinklers runt to the side and parallel to a driveway which is on a fairly steep incline. Lot’s not quite square, so rock walls, driveways, buildings all seem to distort like a Dali painting. It gets people confused. They reun into the rock wall (oh well), and others, particularly when its snowing, don’t quite find the driveway and run their prized chevy over a specific sprinkler.

Like the coverage and layout, so am thinking just a couple of bricks or concrete bricks adjacent that would take the brunt of the force of the tires. It’s going to have that great white trash look, so I fully expect to get a letter from the shadowy fringe of the HOA.

Anybody have a better idea on how to keep me from breaking the sprinkler?

…read more

Source: DoItYourself.com

Do it yourself

Not sure where I can deduct expenses not tied to a property I own

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By MiamiCuse

Going through and figuring out all my real estate income/expenses.

It seems all these numbers have to be allocated to a specific property. That makes sense.

However, are there any provisions to deduct expenses that does not belong to any properties that I own?

My specific case is a foreclosured property. I ALMOST bought it but fell apart last minute. But I incurred expenses leading up to it.

Paid $500 for an inspection.
$300 for a mold test.
$150 for two separate termite tests.
$500 for attorney to review contracts and shadow title process.
$250 for HOA governing documents.
$200 to apply for HOA membership approval, credit checks etc…
$400 for survey.
and loan expenses.

Then, the day before closing, the bank says no deal, the title of the property is not cleared, sorry.

I was out all this expenses, but no where to deduct for tax purposes.

From: http://www.doityourself.com/forum/home-land-property-buying-selling/493218-not-sure-where-i-can-deduct-expenses-not-tied-property-i-own.html

News, Politics, Government

Trayvon Martin's parents settle with Fla. HOA

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Trayvon Martin’s parents have settled a wrongful-death claim against the homeowners association of the Florida subdivision where their teenage son was killed.

The Orlando Sentinel (http://thesent.nl/YYnBB7 ) reports that Sybrina Fulton and Tracy Martin’s attorney, Benjamin Crump, filed that paperwork in Seminole County. Crump told The Associated Press that the filing was confidential.

The newspaper reports that the settlement amount was marked out in five pages made available for public review. In the agreement, the parties specify that they will keep the amount confidential.

Martin was fatally shot by then-neighborhood watch volunteer George Zimmerman during a confrontation in a Sanford subdivision a year ago. Zimmerman is pleading not guilty to second-degree murder, claiming self-defense. His trial is set for June.

A month-and-a-half delay in Zimmerman’s arrest led to nationwide protests.

…read more

Source: FULL ARTICLE at Fox US News

Business, Finance, Occupation & Industry

Diamond Resorts Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

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By Business Wirevia The Motley Fool

Filed under:

Diamond Resorts Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

LAS VEGAS–(BUSINESS WIRE)– Diamond Resorts Corporation, together with Diamond Resorts Parent, LLC and its subsidiaries (“Diamond” or the “Corporation”), today announced results for the quarter and year ended December 31, 2012. “We remain pleased with the continued year over year improvement in our operating performance and continue to focus on the growth of our integrated hospitality platform,” said David F. Palmer, President and Chief Executive Officer.

Full Year 2012 Highlights

  • Adjusted EBITDA for the consolidated operations of Diamond Resorts Parent, LLC, increased $51.4 million to $109.9 million for the year ended December 31, 2012 from $58.5 million for the year ended December 31, 2011. For 2012, Adjusted EBITDA included $3.3 million non-cash stock-based compensation expense and a $5.0 million charge related to termination payments in connection with the Tempus Acquisition. For 2011, Adjusted EBITDA included $9.7 million water intrusion assessment levied by the HOA of one of our managed resorts.
  • Hospitality and Management Services grew 6.9%, contributing another $5.6 million to Net Income for 2012 compared to 2011.
  • Vacation Interest revenues grew by $107.2 million, or 50.7% between the 2012 and 2011. This growth was driven by:
    • an increase in tours of 34,721 to 180,981
    • an increase in closing percentage of 0.4% to 14.8%
    • an increase in average transaction price of $2,020 to $12,510
  • Advertising, sales and marketing expense as a percentage of vacation interest sales decreased 4.9 percentage points to 56.0%.
  • On October 5, 2012, we completed the acquisition of Aegean Blue Holdings Plc, adding five more resorts and new owners to our system. On May 21, 2012, we completed the acquisition of Pacific Monarch Resorts, Inc., and its affiliates adding nine more resorts, four management contracts, and new owners to our system.

Fourth Quarter 2012 Highlights

  • Adjusted EBITDA for the consolidated operations of Diamond Resorts Parent, LLC, increased $28.4 million to $32.5 million for the quarter ended December 31, 2012 from $4.1 million for the quarter ended December 31, 2011. For 2012, Adjusted EBITDA included $3.3 million non-cash …read more
    Source: FULL ARTICLE at DailyFinance
Science & Technology

Homeowner associations can support native species in suburban neighborhoods

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(Phys.org) —Although it’s known that construction of homes in suburban areas can have negative impacts on native plants and animals, a recent study led by University of Massachusetts Amherst ecologist Susannah Lerman suggests that well- managed residential development such as provided by homeowners associations (HOA) can in fact support native wildlife. …read more
Source: FULL ARTICLE at Phys.org

Business, Finance, Occupation & Industry

Pacific Premier Bancorp, Inc. Announces Completion of Acquisition of First Associations Bank

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By Business Wirevia The Motley Fool

Filed under:

Pacific Premier Bancorp, Inc. Announces Completion of Acquisition of First Associations Bank

IRVINE, Calif.–(BUSINESS WIRE)– Pacific Premier Bancorp, Inc. (NAS: PPBI) (“Pacific Premier” or the “Company”) today announced that, on Friday March 15, 2013, it completed the acquisition of First Associations Bank (“FAB“), a Dallas, Texas-based state chartered bank exclusively focused on serving homeowners associations (“HOAs”) and HOA management companies nationwide. The acquisition of FAB is expected to add approximately $375.7 million in assets and approximately $319.8 million in deposits.

Effective immediately, FAB will operate as a division of Pacific Premier Bank. John Carona, FAB‘s largest shareholder and director, has been added as a director on the Boards of Directors of the Company and Pacific Premier Bank.

Under the terms of the definitive agreement, FAB shareholders, in exchange for their shares of FAB common stock, will be entitled to receive an aggregate of $37.2 million in cash and 1,279,217 shares of Pacific Premier common stock. The value of the total deal consideration was approximately $56.7 million, which includes $16.0 million of stock consideration (based on the closing stock price of Pacific Premier common stock on March 15, 2013), $37.2 million of cash consideration and $3.5 million of cash consideration to the holders of FAB stock options and warrants.

“We are very pleased to complete our acquisition of FAB and welcome its national roster of HOA-related clients to Pacific Premier,” said Steven R. Gardner, President and Chief Executive Officer of Pacific Premier Bancorp. “We have been actively preparing for the integration of FAB into our operations over the past several months, including solidifying relationships with its largest customers, identifying additional banking talent that can further build our HOA-related business, and repositioning our balance sheet to take advantage of the liquidity and low-cost deposit base provided by FAB. As a result of the upfront planning we have done, we believe we are well positioned to quickly realize the synergies projected from this transaction and also continue growing our share of the national market for HOA banking services in the coming years.”

On a pro forma combined basis with the FAB acquisition and the proposed acquisition of San Diego Trust Bank, Pacific Premier is expected to have total assets of $1.7 billion.


Advisors

Pacific Premier was advised in this transaction by …read more
Source: FULL ARTICLE at DailyFinance