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Welcome to the Olde Ivy 2010 Townhomes Annual Meeting

Welcome to the Olde Ivy 2010 Townhomes Annual Meeting. Olde Ivy at Vinings Townhomes Association Annual Meeting November 10, 2010 7:00 PM Clubhouse. Welcome Scott Schuck Establish Quorum Ken Baggs Approval of 2009 minutes Scott Schuck Election of 2010 Officers Ken Baggs

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Welcome to the Olde Ivy 2010 Townhomes Annual Meeting

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  1. Welcome to the Olde Ivy 2010 Townhomes Annual Meeting

  2. Olde Ivy at Vinings Townhomes AssociationAnnual MeetingNovember 10, 2010 7:00 PMClubhouse Welcome Scott Schuck Establish Quorum Ken Baggs Approval of 2009 minutes Scott Schuck Election of 2010 Officers Ken Baggs President’s Report Scott Schuck Financial Reports Jerry Crow Property Manager’s Report Ken Baggs Questions Scott Schuck Election Results Ken Baggs Closing Remarks Scott Schuck Adjourn Social

  3. Townhomes BOD Scott Schuck- President Keiffer Phillips – Vice President Melinda McDonald - Secretary Jerry Crow – Acting Treasurer

  4. 2011 Townhomes Budget

  5. Roofing

  6. Barry Laughon 770-384-1851

  7. Are things getting better? Not a YES or NO answer! Historic low interest rates! 50 % of the buyers are moving up! 24th consecutive year to year decline in WD. 23rd consecutive year to year decline in EXP.

  8. Atlanta OverviewSeptember 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!

  9. 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!

  10. Supply and Demand! months

  11. 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!

  12. Your HOA is very important! Maximum30% renters to owners ratio! Diligent in collecting delinquent HOA fees. Must have adequate reserves! Budgets for capital maintenance! Monthly HOA dues must stay reasonable!

  13. When will the market return? Once we hit bottom – 5 to 6 years! Foreclosures & Job concerns are the biggest problems.

  14. Call anytime under no obligation 770-384-1851 barry@barrysoldme.com www.barrysoldme.com

  15. Your HOA is very important! Maximum30% renters to owners ratio! Diligent in collecting delinquent HOA fees. Must have adequate reserves! Budgets for capital maintenance! Monthly HOA dues must stay reasonable!

  16. Delinquency Report

  17. Townhomes Financial Model

  18. What If…

  19. Property Manager’s Report

  20. We Need Volunteers!!!

  21. Questions & Answers

  22. Election Results

  23. Closing Remarks

  24. Please stay for our social gathering

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