Cost of Ownership: 

Resell Difficulties

One of the things you eventually find is that,
with Scott, loyalty doesn't run both ways...
He is very principled - with other people's bottom line.
Former Board Member

Beaver Ridge is easy to buy into, but harder to sell.  It is becoming known as a 'White Elephant' of sorts due largely to the reputation that long-time board members have for manufacturing issues that ruin the investment value and quality of experience of those who purchased in good faith.  Uncertainty as to the emotional maturity of those in charge makes any community highly unattractive to smart buyers, irrespective of price.

Distribution of power can also be an issue, particularly when it is concentrated in the hands of one or two people feared by those to whom they should be accountable.  At Beaver Ridge, one couple essentially picks fellow board members, screens tenants, enforces the rules, levies fines, collects fines, imposes liens, collects the money, spends the money, denies votes, counts votes, crafts official communication to members, sets the agenda and effectively controls the association. 

About 1 in 4 units are officially for sale – with the unofficial figure (including those who have given up) thought to be at least as high.  Some owners are facing a 40% loss largely because of controversial decisions sanctioned by weaker board members unwilling to stand up to the president and his wife (who, as they like to remind us, are attorneys).  

This is a very unique HOA, where property value is of surprisingly low importance to those in charge.  Members who want to leave are of no value to leadership and, in a way, demonstrate their disloyalty to the group by wanting out.

Values have declined by at least 33% since the current president seized power in 2006.  There is a totalitarian feel to the association and some owners privately advise others not to buy here. 

Those with a financial interest in Beaver Ridge sometimes speak up for "the boss" and deny rumors of anti-social behavior.  But, they are careful to limit what they say to their own experience.  If you ask obvious questions about his treatment of others, or the persistence of reputation issues, the responses get vague.  There is an inconvenient secret concerning power and personality.

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