Does the presence of an association raise property values?
This is a frequently-heard opinion about real estate that is part of association; but there is no unbiased research to support this claim. For example, condominium developments have common property, such as pools, community buildings, golf courses, etc. After all construction is completed and the developer is ready to leave, an association is created to manage the common property. This common property, which is frequently co-owned by the residents, needs an organization to maintain it for the use of all owners. The association itself does not raise the property values, but can cause individual property values to decline if it allows the common property to deteriorate. A Harvard University student conducted research into property values of three types of real estate developments in Harris County, Texas. – communities with associations that used foreclosure to collect unpaid dues – communities with associations that did not use foreclosure – communities without associations Property valu
