This complex on Rubion Circle....Google it, it is one small street in the complex is managed by senior citizens. I'd say the average age of the typical occupent is over 60 years old. The complex is clean and there is certainly a small town community within it. However, the association is doing nothing to improve property values. The rooves are covered in green moss/mold, the shake brown wood exteriors of the units remind me of the early 70s, and the entire complex looks it's age aesthetically.
The idiots running the association would rather spend money on a tennis court for 70-80 year olds than make the place look modern. For a small price, they could high pressure water blast the mold off the red tiled rooves. Also, by just painting the exteriors white, the place could look at least cira 1990s instead of 1970s. The outer appearence of the complex is killing property values throughout. Although coparable sales would have you believe 110k to 130k, noone in their right mind would buy a unit there with $270 association fee's when they could own a single family home around the corner for the same price and not be saddled by this obscene payment.
Until the place is managed by someone with a Real Estate mind, property values will continue to decline, year after year. To put it into perspective, the $270 a month = the equivalent of a $50,000 mortgage payment at todays rates. So, even though comparables in the area say 110k to 130k, the association dues drag down values into the 60 to 70k price range.
The association is bankrupting its members. All those in charge of the Madison Vista association should be removed at once and a younger smarter person should take charge to save what little is left in the value of the complex.
